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Swedish (OMX) Software Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies66
  • 7D-0.8%
  • 3M-20.8%
  • 1Y-48.1%
  • YTD-15.1%

The Software is pretty flat in the last 7 days, but Vitec Software Group has stood out, gaining 7.3%. Unfortunately though, the industry is down 48% over the past 12 months. Earnings are forecast to grow by 45% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Feb 2026SEK 60.4bSEK 48.0bSEK 2.2b23.2x27.2x1.3x
Sat, 10 Jan 2026SEK 71.5bSEK 48.0bSEK 2.2b27.7x32.8x1.5x
Mon, 08 Dec 2025SEK 73.5bSEK 48.1bSEK 2.2b27.3x33.1x1.5x
Wed, 05 Nov 2025SEK 85.3bSEK 50.0b-SEK 3,687,553,936.6329.6x-23.1x1.7x
Fri, 03 Oct 2025SEK 91.0bSEK 49.9b-SEK 3,689,534,107.7031.7x-24.7x1.8x
Sun, 31 Aug 2025SEK 94.5bSEK 50.0b-SEK 3,631,663,636.0337.3x-26x1.9x
Tue, 29 Jul 2025SEK 102.3bSEK 50.0b-SEK 3,400,682,140.1635.3x-30.1x2x
Thu, 26 Jun 2025SEK 155.5bSEK 52.4b-SEK 2,693,667,414.4333.2x-57.7x3x
Sat, 24 May 2025SEK 151.4bSEK 52.3b-SEK 2,714,349,197.8929.7x-55.8x2.9x
Mon, 21 Apr 2025SEK 155.3bSEK 51.7b-SEK 2,764,381,774.9931.7x-56.2x3x
Wed, 19 Mar 2025SEK 150.9bSEK 51.6b-SEK 3,146,643,422.6935.3x-48x2.9x
Fri, 14 Feb 2025SEK 163.7bSEK 49.9b-SEK 9,260,463,836.6238.9x-17.7x3.3x
Sun, 12 Jan 2025SEK 140.6bSEK 49.6b-SEK 9,701,948,217.8642.5x-14.5x2.8x
Tue, 10 Dec 2024SEK 152.9bSEK 49.3b-SEK 9,725,155,420.9842.1x-15.7x3.1x
Thu, 07 Nov 2024SEK 145.2bSEK 47.9b-SEK 3,960,178,010.3843x-36.7x3x
Sat, 05 Oct 2024SEK 144.1bSEK 47.7b-SEK 4,188,841,432.1538.7x-34.4x3x
Mon, 02 Sep 2024SEK 144.8bSEK 47.7b-SEK 4,165,588,722.2837.9x-34.8x3x
Wed, 31 Jul 2024SEK 148.9bSEK 47.5b-SEK 4,446,709,378.8156.3x-33.5x3.1x
Fri, 28 Jun 2024SEK 138.7bSEK 47.5b-SEK 4,453,759,493.5255.2x-31.1x2.9x
Sun, 26 May 2024SEK 136.4bSEK 47.2b-SEK 4,609,918,687.0058.1x-29.6x2.9x
Tue, 23 Apr 2024SEK 138.8bSEK 51.3b-SEK 4,820,758,737.3045.9x-28.8x2.7x
Thu, 21 Mar 2024SEK 145.6bSEK 51.1b-SEK 4,696,441,628.1747.9x-31x2.8x
Sat, 17 Feb 2024SEK 161.1bSEK 50.3b-SEK 4,884,015,792.0063.6x-33x3.2x
Mon, 15 Jan 2024SEK 149.4bSEK 50.4b-SEK 4,740,745,652.0067.7x-31.5x3x
Wed, 13 Dec 2023SEK 142.0bSEK 50.4b-SEK 4,725,129,376.0059.9x-30x2.8x
Fri, 10 Nov 2023SEK 120.9bSEK 51.1b-SEK 4,910,272,445.0045.7x-24.6x2.4x
Sun, 08 Oct 2023SEK 115.1bSEK 50.8b-SEK 9,485,555,063.0045.1x-12.1x2.3x
Tue, 05 Sep 2023SEK 122.7bSEK 50.9b-SEK 9,544,478,761.0046.4x-12.9x2.4x
Thu, 03 Aug 2023SEK 132.5bSEK 50.8b-SEK 9,544,943,500.0048.2x-13.9x2.6x
Sat, 01 Jul 2023SEK 126.4bSEK 50.5b-SEK 9,593,379,065.0038.5x-13.2x2.5x
Mon, 29 May 2023SEK 131.1bSEK 50.4b-SEK 9,577,956,764.0040.4x-13.7x2.6x
Wed, 26 Apr 2023SEK 127.4bSEK 49.6b-SEK 9,209,306,831.0041.7x-13.8x2.6x
Fri, 24 Mar 2023SEK 130.5bSEK 49.3b-SEK 9,164,799,842.0044.7x-14.2x2.6x
Sun, 19 Feb 2023SEK 143.7bSEK 48.9b-SEK 5,355,166,035.0042.3x-26.8x2.9x
Price to Earnings Ratio

-26.8x


Total Market Cap: SEK 143.7bTotal Earnings: -SEK 5,355,166,035.00Total Revenue: SEK 48.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -23x202420252026
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 27.2x which is higher than its 3-year average PE of -23.0x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.3x.
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 Market0.12%
Tech-1.84%
Software-0.79%
Systems Software0.82%
Application Software-1.07%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 42.5x.
    • Analysts are expecting annual earnings growth of 27.9%, which is lower than the prior year's growth of 31.6% 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 47% over the next 5 years.
  • This is better than its past earnings decline of 3.3% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 28% 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
VIT B Vitec Software GroupSEK 250.407.3%
+SEK 678.1m		-60.4%PE22.9x
EYEW Eye WorldSEK 22.3515.3%
+SEK 119.4m		30.2%PS22.8x
RPLAN Ranplan GroupSEK 1.16191.5%
+SEK 58.8m		n/aPS4x
NEO B Neovici HoldingSEK 2.9660.0%
+SEK 48.5m		-58.7%n/a
BRIX BrioxSEK 20.302.5%
+SEK 38.0m		256.1%PS57.2x

Latest News

YUBICO
SEK 63.84
Yubico
7D
0.6%
1Y
-74.2%
VIT B
SEK 250.40
Vitec Software Group
7D
7.3%
1Y
-60.4%

Here's What Analysts Are Forecasting For Vitec Software Group AB (publ) (STO:VIT B) After Its Full-Year Results

Feb 09
Here's What Analysts Are Forecasting For Vitec Software Group AB (publ) (STO:VIT B) After Its Full-Year Results
SLEEP
SEK 15.82
Sleep Cycle
7D
-18.5%
1Y
-64.4%

These Analysts Just Made An Downgrade To Their Sleep Cycle AB (publ) (STO:SLEEP) EPS Forecasts

Feb 09
These Analysts Just Made An Downgrade To Their Sleep Cycle AB (publ) (STO:SLEEP) EPS Forecasts
TRUE B
SEK 14.28
Truecaller
7D
-6.0%
1Y
-79.0%

TRUE B: Family Features And Verified Business Calls Will Support Repricing

Narrative Update: Truecaller Analysts have kept their fair value estimate for Truecaller steady at SEK 68.0, citing a slightly higher discount rate and marginally stronger medium term revenue growth and profit margin assumptions as the key reasons for reaffirming their price view. Analyst Commentary Recent sector commentary around online auto platforms highlights Truecaller as part of a broader group of digital marketplaces that investors are watching closely.
SINCH
SEK 24.56
Sinch
7D
-2.4%
1Y
-0.5%

SINCH: Future Repricing Hinges On Execution And Profitability Delivery

Analysts have nudged their price expectations for Sinch higher, with the fair value estimate moving from SEK 35.57 to about SEK 35.94. They cite recent sector-wide rating adjustments and updated views on discount rates, revenue growth, profit margins and future P/E assumptions.
FREJA
SEK 15.80
Freja eID Group
7D
-10.0%
1Y
60.9%
CLAV
SEK 3.62
Clavister Holding AB (publ.)
7D
-6.1%
1Y
68.1%
SDS
SEK 9.90
Seamless Distribution Systems
7D
19.3%
1Y
65.0%

Seamless Distribution Systems AB (publ)'s (NGM:SDS) Price Is Right But Growth Is Lacking After Shares Rocket 29%

Jan 14
Seamless Distribution Systems AB (publ)'s (NGM:SDS) Price Is Right But Growth Is Lacking After Shares Rocket 29%
RPLAN
SEK 1.16
Ranplan Group
7D
191.5%
1Y
n/a
VERT B
SEK 54.40
Vertiseit
7D
-5.2%
1Y
-16.3%

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

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
LIME
SEK 227.00
Lime Technologies
7D
-3.4%
1Y
-37.8%
SKOLON
SEK 25.00
Skolon
7D
-12.3%
1Y
-22.1%

After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar

Dec 13
After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar
BRIX
SEK 20.30
Briox
7D
2.5%
1Y
256.1%

Will Briox (NGM:BRIX) Spend Its Cash Wisely?

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?
NEO B
SEK 2.96
Neovici Holding
7D
60.0%
1Y
-58.7%
RMDX
SEK 1.32
Railway Metrics and Dynamics Sweden
7D
15.8%
1Y
22.8%
EYEW
SEK 22.35
Eye World
7D
15.3%
1Y
30.2%