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Swedish (OMX) Tech Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies136
  • 7D3.4%
  • 3M0.8%
  • 1Y-7.9%
  • YTD2.9%

Over the last 7 days, the Tech industry has risen 3.4%, driven by gains from Telefonaktiebolaget LM Ericsson of 3.7%. In the same time, Done.ai Group was down 17%. However, the industry is down 7.9% over the past year. Earnings are forecast to grow by 8.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026SEK 868.8bSEK 441.3bSEK 34.9b22.5x24.9x2x
Thu, 29 Jan 2026SEK 849.1bSEK 444.6bSEK 39.3b25.6x21.6x1.9x
Sat, 27 Dec 2025SEK 852.5bSEK 448.7bSEK 35.6b27.3x23.9x1.9x
Mon, 24 Nov 2025SEK 859.1bSEK 451.7bSEK 35.9b26.3x23.9x1.9x
Wed, 22 Oct 2025SEK 890.4bSEK 451.9bSEK 32.5b28.8x27.4x2x
Fri, 19 Sep 2025SEK 861.1bSEK 457.9bSEK 25.1b30.8x34.3x1.9x
Sun, 17 Aug 2025SEK 834.7bSEK 458.6bSEK 25.6b30.2x32.6x1.8x
Tue, 15 Jul 2025SEK 885.2bSEK 464.5bSEK 11.3b25.5x78.6x1.9x
Thu, 12 Jun 2025SEK 886.0bSEK 464.4bSEK 10.7b26.2x83x1.9x
Sat, 10 May 2025SEK 860.8bSEK 462.3bSEK 10.2b26.6x84.7x1.9x
Mon, 07 Apr 2025SEK 826.1bSEK 461.4bSEK 9.0b24.3x92x1.8x
Wed, 05 Mar 2025SEK 944.9bSEK 462.3bSEK 11.3b26.7x83.3x2x
Fri, 31 Jan 2025SEK 958.4bSEK 465.2bSEK 4.5b25.9x211.2x2.1x
Sun, 29 Dec 2024SEK 923.2bSEK 465.2bSEK 3.2b25x288.9x2x
Tue, 26 Nov 2024SEK 873.5bSEK 464.0bSEK 3.4b24x259.8x1.9x
Thu, 24 Oct 2024SEK 895.5bSEK 462.9bSEK 7.0b26.5x127.7x1.9x
Sat, 21 Sep 2024SEK 863.6bSEK 464.5b-SEK 27,423,330,476.1327.9x-31.5x1.9x
Mon, 19 Aug 2024SEK 852.4bSEK 464.8b-SEK 27,531,312,324.7326.1x-31x1.8x
Wed, 17 Jul 2024SEK 896.6bSEK 465.2b-SEK 28,184,855,772.0828.7x-31.8x1.9x
Fri, 14 Jun 2024SEK 885.1bSEK 467.2b-SEK 18,027,618,581.3427.4x-49.1x1.9x
Sun, 12 May 2024SEK 858.2bSEK 472.7b-SEK 17,171,712,925.3827.6x-50x1.8x
Tue, 09 Apr 2024SEK 849.8bSEK 482.7b-SEK 18,713,315,338.0228.9x-45.4x1.8x
Thu, 07 Mar 2024SEK 852.2bSEK 482.2b-SEK 19,306,790,828.4726.7x-44.1x1.8x
Sat, 03 Feb 2024SEK 817.7bSEK 481.6b-SEK 19,219,255,830.0031.5x-42.5x1.7x
Mon, 01 Jan 2024SEK 857.4bSEK 494.5b-SEK 16,342,005,402.0030.3x-52.5x1.7x
Wed, 29 Nov 2023SEK 728.9bSEK 496.5b-SEK 16,365,202,016.0028.1x-44.5x1.5x
Fri, 27 Oct 2023SEK 662.7bSEK 497.7b-SEK 18,587,325,795.0023.1x-35.7x1.3x
Sun, 24 Sep 2023SEK 697.8bSEK 501.7bSEK 17.5b21.2x39.9x1.4x
Tue, 22 Aug 2023SEK 712.2bSEK 501.6bSEK 17.5b23.6x40.7x1.4x
Thu, 20 Jul 2023SEK 764.6bSEK 497.2bSEK 17.7b24.2x43.2x1.5x
Sat, 17 Jun 2023SEK 858.2bSEK 494.5bSEK 23.4b22.7x36.6x1.7x
Mon, 15 May 2023SEK 802.5bSEK 491.2bSEK 23.4b25.1x34.4x1.6x
Wed, 12 Apr 2023SEK 826.7bSEK 479.8bSEK 24.2b27.6x34.1x1.7x
Fri, 10 Mar 2023SEK 819.0bSEK 453.8bSEK 23.9b27.9x34.2x1.8x
Price to Earnings Ratio

34.2x


Total Market Cap: SEK 819.0bTotal Earnings: SEK 23.9bTotal Revenue: SEK 453.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.4x202420252026
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 24.9x which is lower than its 3-year average PE of 38.4x.
  • 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 13% 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 Market1.88%
Tech3.45%
Electronic Equipment and Components4.64%
Semiconductors3.77%
Communications2.89%
IT2.03%
Tech Hardware1.38%
Software-0.24%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 36.9x.
    • Analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings decline of 7.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 92% over the next 5 years.
  • In contrast, the Communications industry is expected to see its earnings decline by 4.9% 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
ERIC B Telefonaktiebolaget LM EricssonSEK 104.553.7%
+SEK 12.3b		17.2%PE12.3x
HEXA B HexagonSEK 100.552.1%
+SEK 5.7b		-18.1%PE40.8x
HANZA HanzaSEK 161.4021.7%
+SEK 1.8b		108.7%PE41.3x
MYCR MycronicSEK 203.804.1%
+SEK 1.6b		-10.5%PE25.5x
HMS HMS NetworksSEK 409.405.7%
+SEK 1.1b		-16.5%PE47.2x

Latest News

VERT B
SEK 54.00
Vertiseit
7D
-6.6%
1Y
-14.0%
LIME
SEK 199.40
Lime Technologies
7D
9.0%
1Y
-46.1%

AI Adoption And Recurring CRM Subscriptions Will Transform Long Term Prospects Here

Catalysts About Lime Technologies Lime Technologies provides CRM software and related services that help companies manage sales and customer care. What are the underlying business or industry changes driving this perspective?
DONE
SEK 9.58
Done.ai Group
7D
-16.7%
1Y
-50.9%
HANZA
SEK 161.40
Hanza
7D
21.7%
1Y
108.7%
LAGR B
SEK 214.20
Lagercrantz Group
7D
1.6%
1Y
-5.3%
ERIC B
SEK 104.55
Telefonaktiebolaget LM Ericsson
7D
3.7%
1Y
17.2%
SKOLON
SEK 20.00
Skolon
7D
-14.2%
1Y
-32.2%
HMS
SEK 409.40
HMS Networks
7D
5.7%
1Y
-16.5%

HMS: Recent Rating Upgrades And Dividend Proposal Will Support Future Upside

Analysts have lifted their price target on HMS Networks to SEK 550, up from SEK 480, citing updated research that points to slightly stronger assumptions for long term growth and profitability, supported by recent rating upgrades. Analyst Commentary Recent research has pointed to a more constructive view on HMS Networks, with bullish analysts updating their models and signalling greater confidence in the company’s long term growth and profitability assumptions.
MYCR
SEK 203.80
Mycronic
7D
4.1%
1Y
-10.5%

MYCR: Asian Orders And 2026 Guidance Will Shape Balanced Outlook

Analysts now keep their SEK 215.0 price target for Mycronic broadly unchanged, with slight adjustments in the discount rate, revenue growth expectations, profit margin assumptions, and future P/E multiples shaping the latest narrative update. What's in the News Mycronic issued earnings guidance for 2026, indicating expected net sales of SEK 8.25b for the period (company guidance).
VIT B
SEK 233.60
Vitec Software Group
7D
-1.4%
1Y
-60.8%

VIT B: Higher Future P/E And Buybacks Will Likely Support Stronger Share Price

Analysts have trimmed their price target on Vitec Software Group from SEK 450 to SEK 400, citing more cautious assumptions on revenue growth, profit margins and discount rate. At the same time, they are factoring in a higher future P/E multiple supported by recent research such as the SEB Equities upgrade.
DUST
SEK 1.48
Dustin Group
7D
-3.8%
1Y
-63.1%
YUBICO
SEK 50.40
Yubico
7D
-1.6%
1Y
-76.7%

YUBICO: Expanded Security Accreditation In Spain Will Support Future Upside

Analysts have revised their SEK 108.00 price target on Yubico to SEK 78.33. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
SINCH
SEK 22.18
Sinch
7D
5.0%
1Y
-7.0%
HEXA B
SEK 100.55
Hexagon
7D
2.1%
1Y
-18.1%

HEXA B: Refined Assumptions Will Support Future Share Outperformance Despite SEK 5 Trim

Analysts have lowered their Hexagon price target by SEK 5, reflecting updated views on fair value, the discount rate, and long-term assumptions on revenue growth, profit margins, and future P/E multiples. Analyst Commentary Bullish analysts see the SEK 5 adjustment to the Hexagon price target as a fine tuning of assumptions rather than a shift in overall conviction.
4C
SEK 8.50
4C Group
7D
-17.9%
1Y
-54.9%
BRIX
SEK 19.60
Briox
7D
-3.9%
1Y
380.4%

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Feb 13
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