There May Be Reason For Hope In CombinedX's (STO:CX) Disappointing Earnings
Feb 19
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- 7D-4.7%
- 3M-21.2%
- 1Y-28.7%
- YTD-21.5%
Over the last 7 days, the IT industry has dropped 4.7%, driven by Addnode Group declining 6.9%. Meanwhile, Solidx actually outperformed within the industry, gaining 58% in the last week. Overall the industry is down 29% in 12 months. As for the next few years, earnings are expected to grow by 25% per annum.
Industry Valuation and Performance
Has the Swedish IT Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 22 Mar 2026 | SEK 23.9b | SEK 27.3b | SEK 833.3m | 16.8x | 28.7x | 0.9x |
| Tue, 17 Feb 2026 | SEK 25.8b | SEK 27.2b | SEK 904.7m | 16.3x | 28.6x | 1x |
| Thu, 15 Jan 2026 | SEK 30.5b | SEK 27.3b | SEK 1.4b | 17.9x | 22.1x | 1.1x |
| Sat, 13 Dec 2025 | SEK 30.9b | SEK 27.3b | SEK 1.4b | 17x | 22.4x | 1.1x |
| Mon, 10 Nov 2025 | SEK 30.9b | SEK 27.5b | SEK 1.1b | 16.5x | 28.6x | 1.1x |
| Wed, 08 Oct 2025 | SEK 30.4b | SEK 28.1b | SEK 1.1b | 15.1x | 27x | 1.1x |
| Fri, 05 Sep 2025 | SEK 32.4b | SEK 28.1b | SEK 1.2b | 15.2x | 28.1x | 1.2x |
| Sun, 03 Aug 2025 | SEK 32.2b | SEK 28.1b | SEK 1.4b | 15.3x | 23.6x | 1.1x |
| Tue, 01 Jul 2025 | SEK 33.1b | SEK 29.2b | SEK 1.4b | 15x | 23.4x | 1.1x |
| Thu, 29 May 2025 | SEK 32.1b | SEK 29.3b | SEK 1.1b | 16.6x | 29.7x | 1.1x |
| Sat, 26 Apr 2025 | SEK 30.0b | SEK 30.4b | SEK 1.2b | 16.4x | 25.9x | 1x |
| Mon, 24 Mar 2025 | SEK 33.7b | SEK 30.5b | SEK 1.2b | 15.2x | 28.2x | 1.1x |
| Wed, 19 Feb 2025 | SEK 34.9b | SEK 30.4b | SEK 1.4b | 15.8x | 24.2x | 1.2x |
| Fri, 17 Jan 2025 | SEK 31.7b | SEK 31.1b | SEK 1.4b | 15.3x | 22.5x | 1x |
| Sun, 15 Dec 2024 | SEK 33.9b | SEK 31.2b | SEK 1.3b | 15.5x | 25.5x | 1.1x |
| Tue, 12 Nov 2024 | SEK 34.3b | SEK 30.9b | SEK 1.4b | 15.4x | 25x | 1.1x |
| Thu, 10 Oct 2024 | SEK 34.6b | SEK 30.0b | SEK 1.2b | 17.5x | 28.6x | 1.2x |
| Sat, 07 Sep 2024 | SEK 34.0b | SEK 30.0b | SEK 1.2b | 20x | 28.1x | 1.1x |
| Mon, 05 Aug 2024 | SEK 34.6b | SEK 29.7b | SEK 1.2b | 19.7x | 29.3x | 1.2x |
| Wed, 03 Jul 2024 | SEK 37.8b | SEK 29.2b | SEK 524.4m | 19.7x | 72.1x | 1.3x |
| Fri, 31 May 2024 | SEK 38.1b | SEK 29.5b | SEK 802.9m | 18.4x | 47.5x | 1.3x |
| Sun, 28 Apr 2024 | SEK 36.0b | SEK 30.5b | SEK 916.1m | 16.3x | 39.3x | 1.2x |
| Tue, 26 Mar 2024 | SEK 35.8b | SEK 30.2b | SEK 924.0m | 16.8x | 38.8x | 1.2x |
| Thu, 22 Feb 2024 | SEK 35.2b | SEK 30.6b | SEK 673.1m | 17x | 52.3x | 1.1x |
| Sat, 20 Jan 2024 | SEK 30.2b | SEK 30.5b | SEK 606.9m | 15.5x | 49.8x | 1x |
| Mon, 18 Dec 2023 | SEK 30.3b | SEK 30.5b | SEK 608.7m | 16.1x | 49.8x | 1x |
| Wed, 15 Nov 2023 | SEK 28.7b | SEK 30.3b | SEK 581.2m | 14.8x | 49.4x | 0.9x |
| Fri, 13 Oct 2023 | SEK 26.0b | SEK 30.1b | SEK 676.9m | 14.2x | 38.4x | 0.9x |
| Sun, 10 Sep 2023 | SEK 26.7b | SEK 30.1b | SEK 678.0m | 14.5x | 39.4x | 0.9x |
| Tue, 08 Aug 2023 | SEK 28.8b | SEK 29.7b | SEK 673.2m | 16x | 42.8x | 1x |
| Thu, 06 Jul 2023 | SEK 30.3b | SEK 29.4b | SEK 1.5b | 16.2x | 20.4x | 1x |
| Sat, 03 Jun 2023 | SEK 37.5b | SEK 29.1b | SEK 1.5b | 14.6x | 25.4x | 1.3x |
| Mon, 01 May 2023 | SEK 41.5b | SEK 28.4b | SEK 1.5b | 16.3x | 28x | 1.5x |
| Wed, 29 Mar 2023 | SEK 38.7b | SEK 26.9b | SEK 1.4b | 16x | 27.2x | 1.4x |
Price to Earnings Ratio
27.2x
Current Industry PE
- Investors are pessimistic on the Swedish IT 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 28.7x which is lower than its 3-year average PE of 33.1x.
- The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.88x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 16% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, 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 industry?
| SE Market | -4.91% | |
| Tech | -3.80% | |
| IT | -4.72% | |
| Data Processing Services | 0% | 0 |
| Internet Services and Infrastructure | -3.41% | |
| IT Consulting | -4.79% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry, which is trading close to its 3-year average PE ratio of 30.6x.
- Analysts are expecting annual earnings growth of 26.0%, which is higher than its past year's earnings decline of 19.0% per year.
- Investors are most pessimistic about the Internet Services and Infrastructure industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings decline of 19% per year.
- In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 16% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SOLIDX Solidx | SEK 3.00 | 57.9% +SEK 39.5m | -2.9% | PS0.7x | |
| CAG CAG Group | SEK 110.00 | 3.3% +SEK 25.1m | -1.8% | PE16.5x | |
| CX CombinedX | SEK 30.70 | 1.3% +SEK 7.8m | -18.4% | PE15.9x | |
| SOF B Softronic | SEK 21.20 | 0.5% +SEK 5.3m | -7.6% | PE16.7x | |
| CYB1 Cyber Security 1 | €0.0008 | 33.3% +€242.5k | -76.5% | PS0.02x |
