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Swedish (OMX) IT Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies22
  • 7D1.2%
  • 3M-3.4%
  • 1Y-0.4%
  • YTD1.3%

Knowit is up 2.7%, leading the way for the IT industry, which has gained 1.2%. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 21% per annum.

Industry Valuation and Performance

Has the Swedish IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026SEK 30.9bSEK 27.3bSEK 1.4b18.1x22.4x1.1x
Fri, 12 Dec 2025SEK 30.8bSEK 27.3bSEK 1.4b17x22.4x1.1x
Sun, 09 Nov 2025SEK 30.9bSEK 27.5bSEK 1.1b16.5x28.7x1.1x
Tue, 07 Oct 2025SEK 30.6bSEK 28.1bSEK 1.1b15x27.1x1.1x
Thu, 04 Sep 2025SEK 32.2bSEK 28.1bSEK 1.2b14.9x27.9x1.1x
Sat, 02 Aug 2025SEK 32.2bSEK 28.1bSEK 1.4b15.3x23.6x1.1x
Mon, 30 Jun 2025SEK 33.5bSEK 29.6bSEK 1.4b15.3x24x1.1x
Wed, 28 May 2025SEK 32.3bSEK 29.3bSEK 1.1b16.3x29.8x1.1x
Fri, 25 Apr 2025SEK 31.8bSEK 30.4bSEK 1.2b14.6x26.6x1x
Sun, 23 Mar 2025SEK 33.7bSEK 30.5bSEK 1.2b15.2x28.2x1.1x
Tue, 18 Feb 2025SEK 35.1bSEK 30.8bSEK 1.5b15.3x22.7x1.1x
Thu, 16 Jan 2025SEK 31.7bSEK 31.1bSEK 1.4b15.3x22.5x1x
Sat, 14 Dec 2024SEK 33.9bSEK 31.2bSEK 1.3b15.5x25.5x1.1x
Mon, 11 Nov 2024SEK 33.8bSEK 30.9bSEK 1.4b15.1x24.7x1.1x
Wed, 09 Oct 2024SEK 34.1bSEK 30.0bSEK 1.2b16.9x28.2x1.1x
Fri, 06 Sep 2024SEK 34.5bSEK 30.0bSEK 1.2b20.4x28.4x1.1x
Sun, 04 Aug 2024SEK 34.6bSEK 29.7bSEK 1.2b19.7x29.3x1.2x
Tue, 02 Jul 2024SEK 37.8bSEK 29.2bSEK 524.4m19.7x72.1x1.3x
Thu, 30 May 2024SEK 38.0bSEK 29.5bSEK 802.9m18.7x47.3x1.3x
Sat, 27 Apr 2024SEK 36.0bSEK 30.5bSEK 916.1m16.3x39.3x1.2x
Mon, 25 Mar 2024SEK 35.9bSEK 30.2bSEK 924.0m16.8x38.8x1.2x
Wed, 21 Feb 2024SEK 35.4bSEK 30.6bSEK 674.0m17.3x52.5x1.2x
Fri, 19 Jan 2024SEK 30.3bSEK 30.5bSEK 606.9m15.4x49.9x1x
Sun, 17 Dec 2023SEK 30.3bSEK 30.5bSEK 608.7m16.1x49.8x1x
Tue, 14 Nov 2023SEK 27.7bSEK 30.3bSEK 581.2m15.5x47.7x0.9x
Thu, 12 Oct 2023SEK 26.2bSEK 30.1bSEK 676.9m14.2x38.6x0.9x
Sat, 09 Sep 2023SEK 26.7bSEK 30.1bSEK 678.0m14.5x39.4x0.9x
Mon, 07 Aug 2023SEK 28.7bSEK 29.7bSEK 673.2m16x42.7x1x
Wed, 05 Jul 2023SEK 30.2bSEK 29.4bSEK 1.5b16.3x20.4x1x
Fri, 02 Jun 2023SEK 35.9bSEK 29.1bSEK 1.5b14.3x24.3x1.2x
Sun, 30 Apr 2023SEK 41.5bSEK 28.4bSEK 1.5b16.3x28x1.5x
Tue, 28 Mar 2023SEK 39.2bSEK 26.9bSEK 1.4b16.3x27.6x1.5x
Thu, 23 Feb 2023SEK 39.2bSEK 26.7bSEK 1.4b18.8x28.3x1.5x
Sat, 21 Jan 2023SEK 36.8bSEK 25.2bSEK 1.2b15.4x29.5x1.5x
Price to Earnings Ratio

29.5x


Total Market Cap: SEK 36.8bTotal Earnings: SEK 1.2bTotal Revenue: SEK 25.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish IT Industry Price to Earnings3Y Average 33.2x202420252026
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 22.4x which is lower than its 3-year average PE of 33.2x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 3.4% per year over the last three years.
  • Revenues for these companies have grown 2.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

SE Market2.43%
Tech-0.43%
IT1.20%
IT Consulting1.25%
Data Processing Services0%0
Internet Services and Infrastructure-0.21%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 30.4x.
    • Analysts are expecting annual earnings growth of 21.1%, which is higher than its past year's earnings decline of 6.3% 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 Internet Services and Infrastructure industry, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 52% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 21% 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
KNOW KnowitSEK 120.202.7%
+SEK 87.4m		-9.5%PE33.7x
ANOD B Addnode GroupSEK 93.700.6%
+SEK 81.3m		2.5%PE33.6x
PACT Proact IT GroupSEK 114.202.0%
+SEK 57.4m		2.9%PE18.8x
WPTG B White Pearl Technology GroupSEK 17.0511.4%
+SEK 51.8m		142.9%PE6.7x
ENEA EneaSEK 80.402.7%
+SEK 40.1m		-19.3%PE15.1x

Latest News

TPGR
SEK 2.12
Time People Group
7D
-31.2%
1Y
-76.4%

Time People Group AB (publ) (NGM:TPGR) Shares Fly 32% But Investors Aren't Buying For Growth

Jan 13
Time People Group AB (publ) (NGM:TPGR) Shares Fly 32% But Investors Aren't Buying For Growth
WPTG B
SEK 17.05
White Pearl Technology Group
7D
11.4%
1Y
142.9%
ENEA
SEK 80.40
Enea
7D
2.7%
1Y
-19.3%

ENEA: Telecom Security Contracts And Buybacks Will Support Balanced Long Term Outlook

Analysts have nudged their price target for Enea slightly higher to reflect a modestly lower discount rate and a small adjustment to the assumed future P/E multiple, while keeping fair value unchanged at €80.00. What's in the News Enea secured a US$3.7 million contract with a government customer in Northern Africa to provide Traffic Management and Traffic Intelligence solutions.
ANOD B
SEK 93.70
Addnode Group
7D
0.6%
1Y
2.5%

ANOD B: Ongoing Acquisition Pipeline Will Drive Future Upside Potential

Analysts have nudged their price target on Addnode Group slightly higher to SEK131.0, a modest adjustment that reflects fine tuning of assumptions such as a marginally lower discount rate, stable revenue growth and profit margin expectations, and a similar forward P/E profile. What's in the News Addnode Group AB (publ) is actively looking for acquisitions, with management indicating that additional deals remain on the agenda even after a recently described large acquisition (Key Developments).
KNOW
SEK 120.20
Knowit
7D
2.7%
1Y
-9.5%

KNOW: New Long Term Nordic Tech Contracts Will Support Future Upside

Analysts have reduced their fair value estimate for Knowit from SEK195.00 to SEK155.00, mainly reflecting more cautious assumptions for revenue growth and profit margins, as well as a higher future P/E multiple. What's in the News Knowit signed a new three year agreement with Equinor to further develop and operate Equinor's Distributed Fiber Optic Sensing platform, including software development, system integration, and technology advisory services (Key Developments).
INFRA
SEK 24.30
InfraCom Group
7D
-0.8%
1Y
14.1%

Here's Why InfraCom Group (NGM:INFRA) Can Manage Its Debt Responsibly

Dec 24
Here's Why InfraCom Group (NGM:INFRA) Can Manage Its Debt Responsibly
CYB1
€0.0022
Cyber Security 1
7D
-21.4%
1Y
-73.8%

Cyber Security 1 AB (publ)'s (STO:CYB1) Shares Bounce 43% But Its Business Still Trails The Industry

Nov 28
Cyber Security 1 AB (publ)'s (STO:CYB1) Shares Bounce 43% But Its Business Still Trails The Industry
CX
SEK 36.00
CombinedX
7D
-2.2%
1Y
5.9%
PREV B
SEK 98.00
Prevas
7D
2.9%
1Y
-9.4%

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
SOLIDX
SEK 3.00
Solidx
7D
57.9%
1Y
-2.9%
NODE
SEK 22.40
Nodebis Applications
7D
-4.3%
1Y
135.8%

What You Can Learn From Nodebis Applications AB (publ)'s (NGM:NODE) P/S

Nov 10
What You Can Learn From Nodebis Applications AB (publ)'s (NGM:NODE) P/S
NTEK B
SEK 84.80
Novotek
7D
3.9%
1Y
20.1%
EXALT
SEK 0.36
Exalt
7D
-10.9%
1Y
-16.7%
EXS
SEK 148.50
Exsitec Holding
7D
-3.6%
1Y
14.2%

Earnings Beat: Exsitec Holding AB (publ) Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Oct 28
Earnings Beat: Exsitec Holding AB (publ) Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
PACT
SEK 114.20
Proact IT Group
7D
2.0%
1Y
2.9%
AIXIA B
SEK 148.50
Aixia Group
7D
-1.3%
1Y
-5.4%