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Swedish (OMX) Tech Sector Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies144
  • 7D-0.3%
  • 3M5.4%
  • 1Y2.6%
  • YTD-5.8%

Over the last 7 days, the Tech industry has dropped 1.4%, driven by Telefonaktiebolaget LM Ericsson declining 2.4%. In contrast, NCAB Group has gained 13%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025SEK 842.5bSEK 457.6bSEK 25.1b30.7x33.6x1.8x
Sat, 16 Aug 2025SEK 834.7bSEK 458.5bSEK 25.6b30.2x32.6x1.8x
Mon, 14 Jul 2025SEK 889.3bSEK 464.8bSEK 11.2b26.5x79.6x1.9x
Wed, 11 Jun 2025SEK 889.4bSEK 464.3bSEK 10.7b26.5x83.5x1.9x
Fri, 09 May 2025SEK 859.5bSEK 462.0bSEK 10.2b25.6x84.5x1.9x
Sun, 06 Apr 2025SEK 826.1bSEK 461.4bSEK 9.0b24.3x92x1.8x
Tue, 04 Mar 2025SEK 982.9bSEK 462.1bSEK 11.3b26.6x86.9x2.1x
Thu, 30 Jan 2025SEK 958.3bSEK 465.1bSEK 4.5b25.9x211.5x2.1x
Sat, 28 Dec 2024SEK 923.2bSEK 465.2bSEK 3.2b25x288.8x2x
Mon, 25 Nov 2024SEK 864.8bSEK 463.9bSEK 3.4b23.6x254.6x1.9x
Wed, 23 Oct 2024SEK 894.7bSEK 462.6bSEK 7.0b26.5x128.2x1.9x
Fri, 20 Sep 2024SEK 865.3bSEK 464.4b-SEK 27,430,571,472.3928.1x-31.5x1.9x
Sun, 18 Aug 2024SEK 852.4bSEK 464.8b-SEK 27,532,986,324.7326.1x-31x1.8x
Tue, 16 Jul 2024SEK 884.6bSEK 465.3b-SEK 28,150,643,690.2828.8x-31.4x1.9x
Thu, 13 Jun 2024SEK 867.1bSEK 467.1b-SEK 18,039,513,498.1727.7x-48.1x1.9x
Sat, 11 May 2024SEK 858.1bSEK 472.7b-SEK 17,171,712,925.3827.6x-50x1.8x
Mon, 08 Apr 2024SEK 843.6bSEK 483.0b-SEK 18,688,692,728.3928.2x-45.1x1.7x
Wed, 06 Mar 2024SEK 842.3bSEK 482.5b-SEK 19,284,553,337.5927.1x-43.7x1.7x
Fri, 02 Feb 2024SEK 821.0bSEK 480.9b-SEK 19,189,566,605.0032.2x-42.8x1.7x
Sun, 31 Dec 2023SEK 857.8bSEK 494.5b-SEK 16,342,005,402.0030.3x-52.5x1.7x
Tue, 28 Nov 2023SEK 730.9bSEK 496.9b-SEK 16,334,301,049.0028.1x-44.7x1.5x
Thu, 26 Oct 2023SEK 662.7bSEK 497.4b-SEK 18,455,556,347.0022.4x-35.9x1.3x
Sat, 23 Sep 2023SEK 697.8bSEK 501.7bSEK 17.5b21.2x39.9x1.4x
Mon, 21 Aug 2023SEK 712.2bSEK 501.6bSEK 17.5b23.4x40.7x1.4x
Wed, 19 Jul 2023SEK 755.5bSEK 496.5bSEK 18.3b23.7x41.4x1.5x
Fri, 16 Jun 2023SEK 853.2bSEK 494.3bSEK 23.4b23.2x36.5x1.7x
Sun, 14 May 2023SEK 802.5bSEK 491.2bSEK 23.4b25.1x34.4x1.6x
Tue, 11 Apr 2023SEK 820.4bSEK 479.8bSEK 24.2b26.8x33.8x1.7x
Thu, 09 Mar 2023SEK 816.5bSEK 453.8bSEK 23.9b28.1x34.1x1.8x
Sat, 04 Feb 2023SEK 859.3bSEK 448.4bSEK 28.0b28.2x30.6x1.9x
Mon, 02 Jan 2023SEK 770.9bSEK 429.2bSEK 30.5b27.4x25.3x1.8x
Wed, 30 Nov 2022SEK 800.2bSEK 427.5bSEK 30.2b26.9x26.5x1.9x
Fri, 28 Oct 2022SEK 751.1bSEK 421.5bSEK 35.0b25.5x21.5x1.8x
Sun, 25 Sep 2022SEK 730.8bSEK 404.9bSEK 35.1b23.5x20.8x1.8x
Price to Earnings Ratio

20.8x


Total Market Cap: SEK 730.8bTotal Earnings: SEK 35.1bTotal Revenue: SEK 404.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.4x202320242025
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 33.4x which is lower than its 3-year average PE of 38.3x.
  • 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 declined 11% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

SE Market-0.22%
Tech-0.29%
Electronic Equipment and Components0.33%
IT-0.30%
Communications-0.86%
Software-1.11%
Semiconductors-1.33%
Tech Hardware-2.07%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 48.7%, which is higher than its past year's earnings growth of 18.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 106% over the next 5 years.
  • In contrast, the Communications industry is expected to see its earnings grow by 3.7% 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
HEXA B HexagonSEK 109.951.3%
+SEK 3.8b		10.3%PE28.5x
NCAB NCAB GroupSEK 54.659.7%
+SEK 906.8m		-28.0%PE55.5x
SINCH SinchSEK 31.031.7%
+SEK 447.8m		0.8%PS0.9x
YUBICO YubicoSEK 129.651.9%
+SEK 207.4m		-40.3%PE44x
MYCR MycronicSEK 212.250.5%
+SEK 195.8m		12.5%PE21.1x

Latest News

HEXA B
SEK 109.95
Hexagon
7D
1.3%
1Y
10.3%
TOBII
SEK 3.57
Tobii
7D
15.3%
1Y
41.0%
INT
SEK 142.80
Intellego Technologies
7D
-31.7%
1Y
555.0%
VIT B
SEK 333.60
Vitec Software Group
7D
-3.4%
1Y
-32.3%
LAGR B
SEK 223.40
Lagercrantz Group
7D
-2.3%
1Y
19.0%

Here's What To Make Of Lagercrantz Group's (STO:LAGR B) Decelerating Rates Of Return

Sep 16
Here's What To Make Of Lagercrantz Group's (STO:LAGR B) Decelerating Rates Of Return
HMS
SEK 444.00
HMS Networks
7D
-2.7%
1Y
14.2%
SINCH
SEK 31.03
Sinch
7D
1.7%
1Y
0.8%
MYCR
SEK 212.25
Mycronic
7D
0.5%
1Y
12.5%
ERIC B
SEK 74.60
Telefonaktiebolaget LM Ericsson
7D
-0.7%
1Y
-0.7%

Accelerating 5G And AI Expansion Will Drive Telecom Modernization

As both the forward P/E and revenue growth forecasts for Telefonaktiebolaget LM Ericsson remained essentially flat, analyst estimates on fair value were unchanged, with the price target holding steady at SEK78.65. What's in the News Ericsson is in advanced talks to invest several hundred million dollars for a minority stake in Intel's newly spun-off networking and edge business, NEX, deepening an already close supplier relationship; Intel is seeking additional investors and continues to retain a stake in NEX (Bloomberg, Key Developments).
LIME
SEK 310.00
Lime Technologies
7D
-7.0%
1Y
-4.6%
NCAB
SEK 54.65
NCAB Group
7D
9.7%
1Y
-28.0%
YUBICO
SEK 129.65
Yubico
7D
1.9%
1Y
-40.3%
DYVOX
SEK 116.50
Dynavox Group
7D
-3.6%
1Y
106.9%

Expanding Global Presence Will Unlock Untapped Market Demand

The upward revision in Dynavox Group's price target reflects higher earnings expectations as evidenced by increases in both forecast P/E and net profit margin, raising the consensus fair value from SEK120.50 to SEK132.33. Valuation Changes Summary of Valuation Changes for Dynavox Group The Consensus Analyst Price Target has risen from SEK120.50 to SEK132.33.
TRUE B
SEK 43.64
Truecaller
7D
-3.0%
1Y
13.9%
HANZA
SEK 125.40
Hanza
7D
3.0%
1Y
110.8%
EYEW
SEK 23.90
Eye World
7D
16.0%
1Y
-12.5%