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Swedish (OMX) Software Industry Analysis

UpdatedJan 24, 2026
DataAggregated Company Financials
Companies66
  • 7D-2.6%
  • 3M-23.3%
  • 1Y-40.2%
  • YTD-7.6%

Over the last 7 days, the Software industry has dropped 4.2%, driven by Vitec Software Group declining 7.5%. Overall the industry is down 41% in 12 months. Looking forward, earnings are forecast to grow by 46% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 24 Jan 2026SEK 65.8bSEK 48.0bSEK 2.2b25.1x30.1x1.4x
Mon, 22 Dec 2025SEK 72.0bSEK 48.1bSEK 2.2b27x32.3x1.5x
Wed, 19 Nov 2025SEK 71.3bSEK 49.0bSEK 2.3b27.1x31.5x1.5x
Fri, 17 Oct 2025SEK 91.3bSEK 49.9b-SEK 3,689,553,061.4731.7x-24.7x1.8x
Sun, 14 Sep 2025SEK 91.6bSEK 49.9b-SEK 3,714,859,386.4433.7x-24.7x1.8x
Tue, 12 Aug 2025SEK 96.8bSEK 50.0b-SEK 3,434,446,970.4634.6x-28.2x1.9x
Thu, 10 Jul 2025SEK 163.4bSEK 52.4b-SEK 2,673,144,458.7733.1x-61.1x3.1x
Sat, 07 Jun 2025SEK 157.4bSEK 52.4b-SEK 2,701,516,196.4533.2x-58.3x3x
Mon, 05 May 2025SEK 160.1bSEK 51.1b-SEK 2,665,650,988.3332x-60.1x3.1x
Wed, 02 Apr 2025SEK 159.2bSEK 51.5b-SEK 3,142,562,205.0734.6x-50.7x3.1x
Fri, 28 Feb 2025SEK 161.1bSEK 51.3b-SEK 4,806,337,855.5140.1x-33.5x3.1x
Sun, 26 Jan 2025SEK 154.4bSEK 49.6b-SEK 9,691,726,185.3343.9x-15.9x3.1x
Tue, 24 Dec 2024SEK 145.8bSEK 49.6b-SEK 9,714,816,206.5740x-15x2.9x
Thu, 21 Nov 2024SEK 137.7bSEK 48.5b-SEK 9,803,614,352.7141.7x-14x2.8x
Sat, 19 Oct 2024SEK 141.4bSEK 47.8b-SEK 4,191,510,711.5438x-33.7x3x
Mon, 16 Sep 2024SEK 139.3bSEK 47.7b-SEK 4,134,642,814.7638x-33.7x2.9x
Wed, 14 Aug 2024SEK 133.5bSEK 47.4b-SEK 4,316,960,049.8952.9x-30.9x2.8x
Fri, 12 Jul 2024SEK 138.6bSEK 47.5b-SEK 4,469,557,438.9255.6x-31x2.9x
Sun, 09 Jun 2024SEK 139.8bSEK 47.6b-SEK 4,482,262,472.9055.2x-31.2x2.9x
Tue, 07 May 2024SEK 144.6bSEK 50.4b-SEK 4,623,741,057.6448.8x-31.3x2.9x
Thu, 04 Apr 2024SEK 145.9bSEK 51.2b-SEK 4,784,587,323.6249.5x-30.5x2.8x
Sat, 02 Mar 2024SEK 163.1bSEK 52.1b-SEK 5,096,438,622.5959x-32x3.1x
Mon, 29 Jan 2024SEK 153.4bSEK 50.4b-SEK 4,773,063,677.0067.9x-32.1x3x
Wed, 27 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,650,226,870.0065.9x-32.1x3x
Fri, 24 Nov 2023SEK 130.2bSEK 51.1b-SEK 4,828,211,688.0051.8x-27x2.5x
Sun, 22 Oct 2023SEK 115.1bSEK 51.0b-SEK 9,475,404,799.0044.1x-12.1x2.3x
Tue, 19 Sep 2023SEK 118.6bSEK 51.0b-SEK 9,558,395,901.0043.6x-12.4x2.3x
Thu, 17 Aug 2023SEK 126.7bSEK 50.9b-SEK 9,639,535,971.0044.2x-13.1x2.5x
Sat, 15 Jul 2023SEK 133.2bSEK 50.7b-SEK 9,341,176,226.0041.5x-14.3x2.6x
Mon, 12 Jun 2023SEK 128.6bSEK 50.4b-SEK 9,598,887,908.0040.2x-13.4x2.6x
Wed, 10 May 2023SEK 132.6bSEK 50.1b-SEK 9,328,048,446.0039.9x-14.2x2.6x
Fri, 07 Apr 2023SEK 132.6bSEK 49.8b-SEK 9,257,511,374.0038.5x-14.3x2.7x
Sun, 05 Mar 2023SEK 142.4bSEK 49.2b-SEK 9,030,928,588.0037.7x-15.8x2.9x
Tue, 31 Jan 2023SEK 141.3bSEK 46.3b-SEK 4,794,221,977.0040.8x-29.5x3x
Price to Earnings Ratio

-29.5x


Total Market Cap: SEK 141.3bTotal Earnings: -SEK 4,794,221,977.00Total Revenue: SEK 46.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -24x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Software 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 29.8x which is higher than its 3-year average PE of -24.1x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • Total earnings for the Software industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

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

SE Market-1.18%
Tech1.01%
Software-2.56%
Application Software-2.19%
Systems Software-4.70%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 41.6x.
    • Analysts are expecting annual earnings growth of 32.2%, which is lower than the prior year's growth of 204.3% per year.
  • Investors are most pessimistic about the Application Software 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 Application Software industry, expecting annual earnings growth of 48% over the next 5 years.
  • This is better than its past earnings decline of 2.3% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 32% 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
TRUE B TruecallerSEK 17.054.0%
+SEK 210.5m		-74.1%PE12x
DONE Done.ai GroupSEK 10.3631.3%
+SEK 205.7m		-47.4%PE0.5x
ADVE AdvenicaSEK 20.605.5%
+SEK 47.5m		124.4%PE38.7x
CLAV Clavister Holding AB (publ.)SEK 3.991.7%
+SEK 24.1m		85.3%PS6.8x
ONEF OneflowSEK 21.501.4%
+SEK 8.5m		-42.0%PS3x

Latest News

TENEO
SEK 0.31
Teneo AI
7D
-39.3%
1Y
-45.6%
TRUE B
SEK 17.05
Truecaller
7D
4.0%
1Y
-74.1%
YUBICO
SEK 69.10
Yubico
7D
-6.2%
1Y
-71.9%

YUBICO: Reset Expectations And Retail Expansion Will Support Long-Term Profitability

Analysts have lowered their price target on Yubico from $145.00 to $120.00, citing updated views on growth, profitability, and future P/E assumptions following recent rating changes on the stock. Analyst Commentary While the recent price target cut to $120.00 and rating change signal a more cautious stance, some elements of the updated research still point to areas that more optimistic investors tend to focus on.
SLEEP
SEK 23.50
Sleep Cycle
7D
-10.5%
1Y
-41.7%

SLEEP: Expanding Licensing And AI Coaching Will Drive Long Term Upside

Analysts have maintained their fair value estimate for Sleep Cycle at $43.00. They cite more cautious assumptions on revenue growth and profit margins, together with a higher future P/E outlook, as key factors behind the unchanged target.
VIT B
SEK 267.00
Vitec Software Group
7D
-7.5%
1Y
-52.4%
CLAV
SEK 3.99
Clavister Holding AB (publ.)
7D
1.7%
1Y
85.3%
SINCH
SEK 27.09
Sinch
7D
-1.3%
1Y
24.3%

Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?

Jan 17
Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?
DONE
SEK 10.36
Done.ai Group
7D
31.3%
1Y
-47.4%
ONEF
SEK 21.50
Oneflow
7D
1.4%
1Y
-42.0%

We're Hopeful That Oneflow (STO:ONEF) Will Use Its Cash Wisely

Jan 08
We're Hopeful That Oneflow (STO:ONEF) Will Use Its Cash Wisely
VERT B
SEK 63.40
Vertiseit
7D
-2.5%
1Y
26.3%

Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
ADVE
SEK 20.60
Advenica
7D
5.5%
1Y
124.4%

After Leaping 29% Advenica AB (publ) (STO:ADVE) Shares Are Not Flying Under The Radar

Dec 21
After Leaping 29% Advenica AB (publ) (STO:ADVE) Shares Are Not Flying Under The Radar
LIME
SEK 270.00
Lime Technologies
7D
-3.6%
1Y
-18.4%
SFTR
SEK 4.36
Safeture
7D
4.8%
1Y
-35.9%
NEO B
SEK 2.21
Neovici Holding
7D
5.7%
1Y
-75.2%
EYEW
SEK 16.68
Eye World
7D
-9.0%
1Y
11.2%
NOWO
SEK 5.75
Nowonomics
7D
3.6%
1Y
45.9%