Narrative Update • Aug 12
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- 7D-1.6%
- 3M-6.8%
- 1Y-35.4%
- YTD-31.9%
Over the last 7 days, the IT industry has dropped 1.6%, driven by a pullback from Addnode Group of 5.3%. On the other hand Novotek is actually up 6.9%. The industry has fallen 35% in the last year. Looking forward, earnings are forecast to grow by 26% annually.
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, 16 Aug 2026 | SEK 20.8b | SEK 27.4b | SEK 988.7m | 16.2x | 21x | 0.8x |
| Tue, 14 Jul 2026 | SEK 20.8b | SEK 27.3b | SEK 897.3m | 16.3x | 23.2x | 0.8x |
| Thu, 11 Jun 2026 | SEK 21.9b | SEK 27.3b | SEK 904.0m | 16.1x | 24.2x | 0.8x |
| Sat, 09 May 2026 | SEK 21.9b | SEK 27.3b | SEK 911.5m | 16.4x | 24.1x | 0.8x |
| Mon, 06 Apr 2026 | SEK 24.4b | SEK 27.3b | SEK 833.4m | 17x | 29.2x | 0.9x |
| Wed, 04 Mar 2026 | SEK 24.7b | SEK 27.3b | SEK 834.5m | 17x | 29.7x | 0.9x |
| Fri, 30 Jan 2026 | SEK 29.1b | SEK 27.3b | SEK 1.4b | 16.8x | 21.1x | 1.1x |
| Sun, 28 Dec 2025 | SEK 30.6b | SEK 27.3b | SEK 1.4b | 17.1x | 22.2x | 1.1x |
| Tue, 25 Nov 2025 | SEK 30.4b | SEK 27.5b | SEK 1.4b | 16.3x | 22.4x | 1.1x |
| Thu, 23 Oct 2025 | SEK 32.1b | SEK 28.1b | SEK 1.1b | 15x | 28.5x | 1.1x |
| Sat, 20 Sep 2025 | SEK 32.8b | SEK 28.1b | SEK 1.1b | 14.7x | 29.1x | 1.2x |
| Mon, 18 Aug 2025 | SEK 32.1b | SEK 28.1b | SEK 1.4b | 16x | 23.5x | 1.1x |
| Wed, 16 Jul 2025 | SEK 33.8b | SEK 28.3b | SEK 1.5b | 14.9x | 23x | 1.2x |
| Fri, 13 Jun 2025 | SEK 32.3b | SEK 29.3b | SEK 1.4b | 16.4x | 23.8x | 1.1x |
| Sun, 11 May 2025 | SEK 29.6b | SEK 29.3b | SEK 1.1b | 16.3x | 27.9x | 1x |
| Tue, 08 Apr 2025 | SEK 29.5b | SEK 30.5b | SEK 1.2b | 13.8x | 24.7x | 1x |
| Thu, 06 Mar 2025 | SEK 33.6b | SEK 30.5b | SEK 1.5b | 14.7x | 22.5x | 1.1x |
| Sat, 01 Feb 2025 | SEK 35.1b | SEK 31.2b | SEK 1.5b | 15.1x | 23.5x | 1.1x |
| Mon, 30 Dec 2024 | SEK 33.6b | SEK 31.2b | SEK 1.3b | 15.3x | 25.3x | 1.1x |
| Wed, 27 Nov 2024 | SEK 33.2b | SEK 30.9b | SEK 1.4b | 15.1x | 24.2x | 1.1x |
| Fri, 25 Oct 2024 | SEK 35.9b | SEK 30.9b | SEK 1.4b | 15.7x | 25.1x | 1.2x |
| Sun, 22 Sep 2024 | SEK 34.9b | SEK 30.0b | SEK 1.2b | 19.6x | 28.8x | 1.2x |
| Tue, 20 Aug 2024 | SEK 35.2b | SEK 29.7b | SEK 1.2b | 19.7x | 29.9x | 1.2x |
| Thu, 18 Jul 2024 | SEK 36.5b | SEK 29.7b | SEK 572.2m | 20.3x | 63.8x | 1.2x |
| Sat, 15 Jun 2024 | SEK 36.2b | SEK 29.1b | SEK 525.6m | 19.2x | 68.9x | 1.2x |
| Mon, 13 May 2024 | SEK 36.0b | SEK 29.5b | SEK 839.7m | 16.4x | 42.9x | 1.2x |
| Wed, 10 Apr 2024 | SEK 37.0b | SEK 30.1b | SEK 920.1m | 16.7x | 40.2x | 1.2x |
| Fri, 08 Mar 2024 | SEK 34.8b | SEK 30.1b | SEK 910.0m | 16.9x | 38.2x | 1.2x |
| Sun, 04 Feb 2024 | SEK 33.5b | SEK 30.7b | SEK 583.5m | 15.8x | 57.5x | 1.1x |
| Tue, 02 Jan 2024 | SEK 31.2b | SEK 30.5b | SEK 608.7m | 16.1x | 51.2x | 1x |
| Thu, 30 Nov 2023 | SEK 29.0b | SEK 30.5b | SEK 605.7m | 15.7x | 47.8x | 0.9x |
| Sat, 28 Oct 2023 | SEK 26.1b | SEK 30.1b | SEK 654.9m | 14.6x | 39.9x | 0.9x |
| Mon, 25 Sep 2023 | SEK 25.8b | SEK 30.1b | SEK 677.2m | 14.1x | 38.1x | 0.9x |
| Wed, 23 Aug 2023 | SEK 28.1b | SEK 29.9b | SEK 683.1m | 15.3x | 41.2x | 0.9x |
Price to Earnings Ratio
41.2x
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 21.0x which is lower than its 3-year average PE of 32.6x.
- The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.76x.
Past Earnings Growth
- The earnings for companies in the IT industry have grown 13% per year over the last three years.
- Meanwhile revenues for these companies have declined 2.8% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Swedish Tech industry?
| SE Market | -1.02% | |
| Tech | -0.16% | |
| IT | -1.63% | |
| Data Processing Services | 0% | 0 |
| Internet Services and Infrastructure | -0.20% | |
| IT Consulting | -1.69% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 30.7x.
- Analysts are expecting annual earnings growth of 26.5%, which is higher than its past year's earnings growth of 0.8% 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 27% over the next 5 years.
- This is better than its past earnings growth rate of 0.8% per year.
- In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 15% 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 | |
|---|---|---|---|---|---|
| NTEK B Novotek | SEK 63.80 | 6.9% +SEK 43.5m | -34.9% | PE19.6x | |
| SOLIDX Solidx | SEK 3.00 | 57.9% +SEK 39.5m | -2.9% | PS0.7x | |
| ENEA Enea | SEK 64.00 | 3.1% +SEK 35.7m | -16.9% | PE11.1x | |
| CX CombinedX | SEK 35.00 | 3.2% +SEK 21.4m | -5.4% | PE5x | |
| WPTG B White Pearl Technology Group | SEK 15.00 | 2.0% +SEK 9.3m | -11.2% | PE6.3x |