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Swedish (OMX) Tech Sector Analysis

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies140
  • 7D-1.6%
  • 3M-1.5%
  • 1Y-5.2%
  • YTD-5.4%

Over the last 7 days, the Tech industry has dropped 1.6%, driven by Hexagon declining 3.1%. On the other hand Tobii is actually up 40%. The industry has fallen 5.2% in the last year. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

Has the Swedish Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025SEK 845.5bSEK 450.4bSEK 35.8b26x23.6x1.9x
Sat, 15 Nov 2025SEK 885.5bSEK 451.3bSEK 35.6b26.8x24.9x2x
Mon, 13 Oct 2025SEK 851.4bSEK 458.1bSEK 25.3b28.9x33.7x1.9x
Wed, 10 Sep 2025SEK 849.1bSEK 457.6bSEK 25.1b29.8x33.8x1.9x
Fri, 08 Aug 2025SEK 838.8bSEK 458.5bSEK 25.7b29.4x32.7x1.8x
Sun, 06 Jul 2025SEK 895.9bSEK 465.1bSEK 11.1b25.3x81.1x1.9x
Tue, 03 Jun 2025SEK 874.6bSEK 463.9bSEK 10.3b24.7x84.7x1.9x
Thu, 01 May 2025SEK 863.5bSEK 462.6bSEK 10.6b26.2x81.5x1.9x
Sat, 29 Mar 2025SEK 891.7bSEK 460.1bSEK 11.0b25.9x80.8x1.9x
Mon, 24 Feb 2025SEK 990.9bSEK 461.0bSEK 9.3b27.2x106.2x2.1x
Wed, 22 Jan 2025SEK 974.4bSEK 464.0bSEK 3.2b25.2x307.5x2.1x
Fri, 20 Dec 2024SEK 914.9bSEK 464.7bSEK 3.2b24.8x286.8x2x
Sun, 17 Nov 2024SEK 865.9bSEK 463.7bSEK 3.4b24x256.7x1.9x
Tue, 15 Oct 2024SEK 866.4bSEK 464.4b-SEK 27,442,004,535.7927.1x-31.6x1.9x
Thu, 12 Sep 2024SEK 839.5bSEK 465.0b-SEK 27,418,756,546.2226.9x-30.6x1.8x
Sat, 10 Aug 2024SEK 827.1bSEK 464.7b-SEK 27,413,620,292.9625.9x-30.2x1.8x
Mon, 08 Jul 2024SEK 882.0bSEK 467.5b-SEK 17,947,484,896.1229.2x-49.1x1.9x
Wed, 05 Jun 2024SEK 861.7bSEK 467.8b-SEK 17,551,575,926.4127x-49.1x1.8x
Fri, 03 May 2024SEK 819.8bSEK 472.5b-SEK 17,206,951,383.3227.8x-47.6x1.7x
Sun, 31 Mar 2024SEK 867.0bSEK 483.0b-SEK 18,694,785,293.2628.5x-46.4x1.8x
Tue, 27 Feb 2024SEK 850.8bSEK 481.9b-SEK 19,536,062,613.3430.6x-43.6x1.8x
Thu, 25 Jan 2024SEK 825.2bSEK 480.9b-SEK 18,930,303,379.0031.2x-43.6x1.7x
Sat, 23 Dec 2023SEK 844.7bSEK 493.9b-SEK 16,391,831,475.0029.3x-51.5x1.7x
Mon, 20 Nov 2023SEK 718.0bSEK 497.3b-SEK 16,202,034,452.0027.1x-44.3x1.4x
Wed, 18 Oct 2023SEK 695.9bSEK 499.0bSEK 17.2b21.4x40.4x1.4x
Fri, 15 Sep 2023SEK 702.8bSEK 502.0bSEK 17.6b22.7x40x1.4x
Sun, 13 Aug 2023SEK 736.5bSEK 500.9bSEK 17.4b24.1x42.3x1.5x
Tue, 11 Jul 2023SEK 815.0bSEK 495.9bSEK 23.6b22.5x34.5x1.6x
Thu, 08 Jun 2023SEK 838.2bSEK 494.3bSEK 23.5b23.3x35.6x1.7x
Sat, 06 May 2023SEK 806.4bSEK 490.6bSEK 23.4b26.9x34.5x1.6x
Mon, 03 Apr 2023SEK 826.9bSEK 478.2bSEK 24.1b27.4x34.3x1.7x
Wed, 01 Mar 2023SEK 804.5bSEK 452.5bSEK 24.0b27.4x33.6x1.8x
Fri, 27 Jan 2023SEK 815.6bSEK 446.4bSEK 27.7b27x29.4x1.8x
Sun, 25 Dec 2022SEK 772.6bSEK 429.2bSEK 30.5b26.6x25.4x1.8x
Price to Earnings Ratio

25.4x


Total Market Cap: SEK 772.6bTotal Earnings: SEK 30.5bTotal Revenue: SEK 429.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.7x202320242025
Current Industry PE
  • Investors are pessimistic on the Swedish Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 23.6x which is lower than its 3-year average PE of 38.7x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 5.5% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Swedish Tech sector?

SE Market-0.60%
Tech-1.62%
IT0.30%
Communications-0.36%
Semiconductors-0.68%
Tech Hardware-1.72%
Software-2.31%
Electronic Equipment and Components-2.62%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 35.2x.
    • Analysts are expecting annual earnings growth of 19.5%, which is higher than its past year's earnings decline of 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 68% over the next 5 years.
  • In contrast, the Communications industry is expected to see its earnings decline by 9.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ADVE AdvenicaSEK 18.2024.8%
+SEK 159.2m		84.2%PE34.2x
BERNER B Berner IndustrierSEK 96.208.3%
+SEK 141.1m		181.3%PE30.9x
TOBII TobiiSEK 2.1936.6%
+SEK 137.2m		14.6%PS0.6x
SINCH SinchSEK 31.260.5%
+SEK 136.4m		56.1%PS0.9x
NTEK B NovotekSEK 84.006.3%
+SEK 53.0m		16.7%PE12.4x

Latest News

ADVE
SEK 18.20
Advenica
7D
24.8%
1Y
84.2%
BERNER B
SEK 96.20
Berner Industrier
7D
8.3%
1Y
181.3%
TRUE B
SEK 18.60
Truecaller
7D
-18.1%
1Y
-63.6%
HEXA B
SEK 106.80
Hexagon
7D
-1.2%
1Y
0.8%
NCAB
SEK 47.30
NCAB Group
7D
-10.5%
1Y
-24.4%

Does NCAB Group (STO:NCAB) Have A Healthy Balance Sheet?

Dec 16
Does NCAB Group (STO:NCAB) Have A Healthy Balance Sheet?
TOBII
SEK 2.19
Tobii
7D
36.6%
1Y
14.6%

A Piece Of The Puzzle Missing From Tobii AB (publ)'s (STO:TOBII) 30% Share Price Climb

Dec 16
A Piece Of The Puzzle Missing From Tobii AB (publ)'s (STO:TOBII) 30% Share Price Climb
SINCH
SEK 31.26
Sinch
7D
0.5%
1Y
56.1%
MYCR
SEK 216.60
Mycronic
7D
-1.9%
1Y
8.8%

MYCR: Expanding Asian Orders Will Support Steady Earnings And Balanced Prospects

Analysts have nudged their price target for Mycronic slightly higher to approximately SEK 219 per share, reflecting modestly increased discount rate and future P E assumptions, while maintaining a generally stable view on long term revenue growth and profitability. What's in the News Mycronic secured a new Asian customer for its SLX semiconductor mask writer, an energy efficient system with an order value between USD 5 million and 7 million, with revenue recognized in the current quarter (company announcement).
HMS
SEK 416.80
HMS Networks
7D
-6.8%
1Y
-5.3%

HMS: Acquisition-Fueled Expansion Will Drive Stronger Long-Term Earnings Power

Analysts have trimmed their price target on HMS Networks by SEK 20 to SEK 575, reflecting slightly more cautious assumptions on revenue growth and profit margins, while also applying a marginally lower discount rate and a modestly higher future P E multiple. What's in the News HMS Networks plans to actively pursue further acquisitions, aiming to drive roughly half of its future growth through M&A and half through organic expansion (company presentation).
LAGR B
SEK 208.80
Lagercrantz Group
7D
-2.8%
1Y
-0.2%
ANOD B
SEK 96.90
Addnode Group
7D
-2.1%
1Y
-3.8%

ANOD B: Ongoing Acquisitions Will Drive Future Upside As Integration Progresses

Analysts have modestly raised their price target on Addnode Group to SEK 132.25, reflecting slightly higher discount rate and valuation assumptions while maintaining broadly unchanged expectations for revenue growth, profit margins, and future earnings multiples. What's in the News Addnode Group continues to actively seek acquisitions, with management confirming that M and A remains a core growth strategy despite recently completing its largest deal to date (Key Developments).
ERIC B
SEK 90.12
Telefonaktiebolaget LM Ericsson
7D
-0.2%
1Y
1.0%

ERIC B: Evolving 5G Bans And New Contracts Will Shape Risk Reward Balance

Analysts have nudged up their price target on Telefonaktiebolaget LM Ericsson by SEK 5 to SEK 95, citing higher post Q3 revenue and margin expectations while maintaining a generally cautious stance on the shares. Analyst Commentary Recent target price revisions reflect a more constructive view on Ericsson's near term execution, tempered by lingering concerns over its longer term growth profile and industry headwinds.
DONE
SEK 6.30
Done.ai Group
7D
11.1%
1Y
-73.4%

There Are Some Holes In Done.ai Group's (STO:DONE) Solid Earnings Release

Nov 28
There Are Some Holes In Done.ai Group's (STO:DONE) Solid Earnings Release
PREV B
SEK 93.40
Prevas
7D
4.1%
1Y
-18.1%

Market Might Still Lack Some Conviction On Prevas AB (STO:PREV B) Even After 27% Share Price Boost

Nov 14
Market Might Still Lack Some Conviction On Prevas AB (STO:PREV B) Even After 27% Share Price Boost
NTEK B
SEK 84.00
Novotek
7D
6.3%
1Y
16.7%
BRIX
SEK 18.50
Briox
7D
3.4%
1Y
270.0%

Will Briox (NGM:BRIX) Spend Its Cash Wisely?

Sep 10
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