Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Software Industry Analysis

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies64
  • 7D4.8%
  • 3M26.7%
  • 1Y-30.5%
  • YTD3.0%

Over the last 7 days, the Software industry has risen 4.8%, driven by gains from Sinch of 5.6%. During this same period, the Safestate Group underperformed, falling 5.9%. In contrast, the industry has lost 30% in the last 12 months. Looking forward, earnings are forecast to grow by 37% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026SEK 74.7bSEK 45.5b-SEK 1,403,560,142.8324.8x-53.2x1.6x
Tue, 02 Jun 2026SEK 74.0bSEK 45.3b-SEK 1,358,052,322.0625.2x-54.5x1.6x
Thu, 30 Apr 2026SEK 63.0bSEK 46.1b-SEK 1,473,030,597.0825x-42.8x1.4x
Sat, 28 Mar 2026SEK 54.0bSEK 46.0b-SEK 1,536,576,916.5322.7x-35.1x1.2x
Mon, 23 Feb 2026SEK 55.5bSEK 45.6bSEK 506.0m22.4x109.7x1.2x
Wed, 21 Jan 2026SEK 64.7bSEK 48.0bSEK 2.2b25.8x29.7x1.3x
Fri, 19 Dec 2025SEK 72.4bSEK 48.1bSEK 2.2b26.6x32.5x1.5x
Sun, 16 Nov 2025SEK 75.1bSEK 49.0bSEK 2.3b27.1x32.9x1.5x
Tue, 14 Oct 2025SEK 90.7bSEK 49.9b-SEK 3,689,599,127.8331.9x-24.6x1.8x
Thu, 11 Sep 2025SEK 93.1bSEK 49.9b-SEK 3,714,614,797.5435x-25.1x1.9x
Sat, 09 Aug 2025SEK 97.7bSEK 50.0b-SEK 3,434,579,526.3535.2x-28.4x2x
Mon, 07 Jul 2025SEK 162.3bSEK 52.5b-SEK 2,674,080,075.1733.6x-60.7x3.1x
Wed, 04 Jun 2025SEK 157.9bSEK 52.4b-SEK 2,701,179,618.0030.9x-58.5x3x
Fri, 02 May 2025SEK 157.8bSEK 52.1b-SEK 2,667,387,804.2031.6x-59.2x3x
Sun, 30 Mar 2025SEK 145.3bSEK 51.5b-SEK 3,144,293,891.4835x-46.2x2.8x
Tue, 25 Feb 2025SEK 162.0bSEK 49.9b-SEK 4,871,858,224.9742.2x-33.2x3.2x
Thu, 23 Jan 2025SEK 151.1bSEK 49.6b-SEK 9,690,835,185.9743.2x-15.6x3x
Sat, 21 Dec 2024SEK 145.8bSEK 49.3b-SEK 9,682,184,653.7040.4x-15.1x3x
Mon, 18 Nov 2024SEK 140.5bSEK 48.5b-SEK 9,785,313,618.2840x-14.4x2.9x
Wed, 16 Oct 2024SEK 142.9bSEK 47.7b-SEK 4,173,278,697.8137.6x-34.2x3x
Fri, 13 Sep 2024SEK 138.8bSEK 47.7b-SEK 4,186,089,830.6739.1x-33.2x2.9x
Sun, 11 Aug 2024SEK 140.5bSEK 47.4b-SEK 4,307,694,273.4053.7x-32.6x3x
Tue, 09 Jul 2024SEK 140.5bSEK 47.5b-SEK 4,487,485,573.6655.8x-31.3x3x
Thu, 06 Jun 2024SEK 139.9bSEK 47.6b-SEK 4,426,611,266.2856.4x-31.6x2.9x
Sat, 04 May 2024SEK 143.5bSEK 50.4b-SEK 4,639,295,220.3052.2x-30.9x2.8x
Mon, 01 Apr 2024SEK 147.5bSEK 51.2b-SEK 4,777,848,190.5048.7x-30.9x2.9x
Wed, 28 Feb 2024SEK 160.4bSEK 52.0b-SEK 5,127,603,656.3957.1x-31.3x3.1x
Fri, 26 Jan 2024SEK 151.4bSEK 50.4b-SEK 4,762,863,878.0067.7x-31.8x3x
Sun, 24 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,645,700,895.0065.9x-32.2x3x
Tue, 21 Nov 2023SEK 128.5bSEK 51.1b-SEK 4,842,208,555.0054x-26.5x2.5x
Thu, 19 Oct 2023SEK 115.6bSEK 50.8b-SEK 9,490,304,024.0043.5x-12.2x2.3x
Sat, 16 Sep 2023SEK 120.6bSEK 51.0b-SEK 9,553,270,116.0044.2x-12.6x2.4x
Mon, 14 Aug 2023SEK 129.4bSEK 50.9b-SEK 9,626,269,315.0045.9x-13.4x2.5x
Wed, 12 Jul 2023SEK 126.5bSEK 50.4b-SEK 9,530,199,692.0041.2x-13.3x2.5x
Price to Earnings Ratio

-13.3x


Total Market Cap: SEK 126.5bTotal Earnings: -SEK 9,530,199,692.00Total Revenue: SEK 50.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -25.2x202420252026
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 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Software industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 3.4% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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

SE Market3.36%
Tech0.95%
Software4.77%
Systems Software4.79%
Application Software4.77%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 54.9x.
    • Analysts are expecting annual earnings growth of 44.7%, which is higher than its past year's earnings decline of 41.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings decline of 41% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 36% 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
SINCH SinchSEK 39.805.6%
+SEK 1.6b		36.8%PE79.3x
TRUE B TruecallerSEK 14.9017.6%
+SEK 730.5m		-77.7%PE15.3x
YUBICO YubicoSEK 60.104.8%
+SEK 235.9m		-56.6%PE52.4x
CLAV Clavister Holding AB (publ.)SEK 5.3713.1%
+SEK 230.3m		14.4%PE566.8x
VIT B Vitec Software GroupSEK 233.802.2%
+SEK 199.5m		-52.6%PE20.7x

Latest News

YUBICO
SEK 60.10
Yubico
7D
4.8%
1Y
-56.6%
Narrative Update • Jul 02

YUBICO: Growing FIPS Certifications And EU Cyber Ties Will Support Future Profitability

Analysts have reduced their Yubico price target from SEK 80 to SEK 70, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together support a more conservative valuation framework. What’s in the News for Yubico Yubico was accepted as a member of the European Cyber Security Organisation, aligning the company with a pan European public private group focused on phishing resistant authentication and modern digital identity standards in Europe.
TRUE B
SEK 14.90
Truecaller
7D
17.6%
1Y
-77.7%
STATE
SEK 23.95
Safestate Group
7D
-5.9%
1Y
-3.6%
SMCRT
SEK 15.84
SmartCraft Group
7D
3.7%
1Y
n/a
SINCH
SEK 39.80
Sinch
7D
5.6%
1Y
36.8%
Narrative Update • Jun 30

SINCH: Future Returns Will Rely On AI Execution And Capital Actions

Analysts have modestly lifted their Sinch price target to SEK38.63 from SEK36.86, citing updated assumptions for revenue growth, profit margins and future P/E levels. What's in the News Sinch appointed Jonas Dahlberg as acting CEO from June 8, 2026, after Laurinda Pang decided to step down.
LIME
SEK 212.00
Lime Technologies
7D
5.2%
1Y
-47.6%
VIT B
SEK 233.80
Vitec Software Group
7D
2.2%
1Y
-52.6%
Narrative Update • Jun 17

VIT B: Higher Reported Margins And Quarterly Dividend Plan Will Support Upside

Analysts have kept their SEK fair value estimate for Vitec Software Group steady at SEK 444.57. They have updated their assumptions to reflect a slightly higher discount rate, a marginally stronger profit margin outlook, and a lower future P/E multiple that together support the unchanged price target.
VERT B
SEK 55.80
Vertiseit
7D
-2.1%
1Y
-13.1%
CLAV
SEK 5.37
Clavister Holding AB (publ.)
7D
13.1%
1Y
14.4%
RPLAN
SEK 1.20
Ranplan Group
7D
-39.4%
1Y
65.5%
SKOLON
SEK 19.10
Skolon
7D
-9.0%
1Y
-45.6%
ADVE
SEK 19.52
Advenica
7D
-2.4%
1Y
-32.5%
FREJA
SEK 19.40
Freja eID Group
7D
18.7%
1Y
63.7%
NORDIG
SEK 0.66
Nord Insuretech Group
7D
-10.8%
1Y
200.0%
DONE
SEK 8.96
Done.ai Group
7D
-2.9%
1Y
-14.2%
QBNK
SEK 6.75
QBNK Holding
7D
-23.3%
1Y
n/a