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Swedish (OMX) Software Industry Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies66
  • 7D-4.2%
  • 3M-24.2%
  • 1Y-40.6%
  • YTD-8.7%

In the last week, the Software industry is down 4.2% with Vitec Software Group down the most at 6.5%. Meanwhile, Done.ai Group actually outperformed within the industry, gaining 28% in the last week. Overall the industry is down 41% in 12 months. 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
Fri, 23 Jan 2026SEK 65.1bSEK 48.0bSEK 2.2b26x29.8x1.4x
Sun, 21 Dec 2025SEK 72.0bSEK 48.1bSEK 2.2b27x32.3x1.5x
Tue, 18 Nov 2025SEK 72.9bSEK 49.0bSEK 2.3b27.6x32x1.5x
Thu, 16 Oct 2025SEK 91.0bSEK 49.9b-SEK 3,689,499,677.2131.2x-24.7x1.8x
Sat, 13 Sep 2025SEK 91.5bSEK 49.9b-SEK 3,714,859,386.4433.7x-24.6x1.8x
Mon, 11 Aug 2025SEK 97.7bSEK 50.0b-SEK 3,434,579,526.3535.2x-28.4x2x
Wed, 09 Jul 2025SEK 162.4bSEK 52.4b-SEK 2,673,283,298.2033.8x-60.8x3.1x
Fri, 06 Jun 2025SEK 157.6bSEK 52.4b-SEK 2,701,181,190.5933.2x-58.3x3x
Sun, 04 May 2025SEK 160.1bSEK 51.1b-SEK 2,662,747,988.3332x-60.1x3.1x
Tue, 01 Apr 2025SEK 157.6bSEK 51.5b-SEK 3,144,962,432.8134.7x-50.1x3.1x
Thu, 27 Feb 2025SEK 163.6bSEK 51.3b-SEK 4,806,079,621.3139.7x-34x3.2x
Sat, 25 Jan 2025SEK 154.4bSEK 49.6b-SEK 9,692,744,650.6743.9x-15.9x3.1x
Mon, 23 Dec 2024SEK 145.8bSEK 49.3b-SEK 9,714,992,901.0540.4x-15x3x
Wed, 20 Nov 2024SEK 138.7bSEK 48.5b-SEK 9,781,770,940.4843.2x-14.2x2.9x
Fri, 18 Oct 2024SEK 139.1bSEK 47.8b-SEK 4,182,023,710.4537.8x-33.3x2.9x
Sun, 15 Sep 2024SEK 139.3bSEK 47.7b-SEK 4,134,642,814.7638x-33.7x2.9x
Tue, 13 Aug 2024SEK 139.6bSEK 47.4b-SEK 4,320,997,185.4353.9x-32.3x2.9x
Thu, 11 Jul 2024SEK 138.2bSEK 47.5b-SEK 4,475,186,876.3555.4x-30.9x2.9x
Sat, 08 Jun 2024SEK 139.8bSEK 47.6b-SEK 4,482,048,065.4755.2x-31.2x2.9x
Mon, 06 May 2024SEK 143.5bSEK 50.4b-SEK 4,619,516,305.2750x-31.1x2.8x
Wed, 03 Apr 2024SEK 145.2bSEK 51.2b-SEK 4,796,614,926.8048.7x-30.3x2.8x
Fri, 01 Mar 2024SEK 158.3bSEK 52.1b-SEK 5,139,741,046.7859.1x-30.8x3x
Sun, 28 Jan 2024SEK 153.4bSEK 50.4b-SEK 4,773,063,677.0067.9x-32.1x3x
Tue, 26 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,645,700,895.0065.9x-32.2x3x
Thu, 23 Nov 2023SEK 129.9bSEK 51.1b-SEK 4,826,970,042.0053.4x-26.9x2.5x
Sat, 21 Oct 2023SEK 115.1bSEK 50.9b-SEK 9,486,872,525.0044.1x-12.1x2.3x
Mon, 18 Sep 2023SEK 119.1bSEK 51.0b-SEK 9,558,807,874.0044.2x-12.5x2.3x
Wed, 16 Aug 2023SEK 127.6bSEK 50.9b-SEK 9,621,632,976.0045.4x-13.3x2.5x
Fri, 14 Jul 2023SEK 129.9bSEK 50.3b-SEK 9,481,460,132.0040.6x-13.7x2.6x
Sun, 11 Jun 2023SEK 128.6bSEK 50.4b-SEK 9,598,887,908.0040.2x-13.4x2.6x
Tue, 09 May 2023SEK 133.6bSEK 50.1b-SEK 9,329,861,257.0040.2x-14.3x2.7x
Thu, 06 Apr 2023SEK 130.6bSEK 49.7b-SEK 9,241,478,615.0039.8x-14.1x2.6x
Sat, 04 Mar 2023SEK 142.4bSEK 49.4b-SEK 9,018,843,336.0037.7x-15.8x2.9x
Mon, 30 Jan 2023SEK 148.5bSEK 46.3b-SEK 4,791,950,774.0041.3x-31x3.2x
Price to Earnings Ratio

-31x


Total Market Cap: SEK 148.5bTotal Earnings: -SEK 4,791,950,774.00Total Revenue: SEK 46.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -24.1x202420252026
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-1.41%
Tech-3.62%
Software-4.17%
Systems Software-3.79%
Application Software-4.23%
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
DONE Done.ai GroupSEK 9.5727.6%
+SEK 172.4m		-51.9%PE0.4x
ADVE AdvenicaSEK 21.109.9%
+SEK 83.6m		128.4%PE39.6x
ONEF OneflowSEK 22.204.7%
+SEK 28.4m		-40.2%PS3.1x
CDMIL CodeMillSEK 16.107.3%
+SEK 15.0m		17.5%PE79.3x
EFFH Effnetplattformen HoldingSEK 4.5810.6%
+SEK 6.0m		33.9%n/a

Latest News

YUBICO
SEK 71.32
Yubico
7D
-5.8%
1Y
-70.2%

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.
CINT
SEK 2.73
Cint Group
7D
-6.4%
1Y
-75.0%

Is It Too Late To Consider Buying Cint Group AB (publ) (STO:CINT)?

Jan 21
Is It Too Late To Consider Buying Cint Group AB (publ) (STO:CINT)?
VIT B
SEK 269.20
Vitec Software Group
7D
-6.5%
1Y
-51.7%
SINCH
SEK 26.82
Sinch
7D
-2.9%
1Y
23.8%

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

Jan 17
Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?
TRUE B
SEK 15.10
Truecaller
7D
-10.7%
1Y
-77.0%

TRUE B: Family Protection Rollout And Business Calling Suite Will Drive Repricing

Analysts have trimmed their price target on Truecaller to $68 from $95, citing updated assumptions for revenue growth, profit margins and future P/E that they see as better aligned with the company’s current risk profile and earnings outlook. Analyst Commentary Recent Street research around online auto marketplaces has centered on corporate actions and competitive shifts, with TrueCar in focus due to its pending acquisition and the broader conversation around third party listing platforms that connect buyers and sellers.
DONE
SEK 9.57
Done.ai Group
7D
27.6%
1Y
-51.9%
ONEF
SEK 22.20
Oneflow
7D
4.7%
1Y
-40.2%

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 63.60
Vertiseit
7D
-2.8%
1Y
28.0%

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 21.10
Advenica
7D
9.9%
1Y
128.4%

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
FPIP
SEK 23.60
Formpipe Software
7D
-6.7%
1Y
-3.7%
LIME
SEK 266.50
Lime Technologies
7D
-3.8%
1Y
-24.0%
DLAB
SEK 2.68
Dlaboratory Sweden
7D
7.2%
1Y
8.5%
EFFH
SEK 4.58
Effnetplattformen Holding
7D
10.6%
1Y
33.9%
NEO B
SEK 2.21
Neovici Holding
7D
6.3%
1Y
-73.6%
CDMIL
SEK 16.10
CodeMill
7D
7.3%
1Y
17.5%
TIRO
SEK 0.036
Transiro Holding
7D
12.5%
1Y
80.0%

Is Transiro Holding (NGM:TIRO) Weighed On By Its Debt Load?

Mar 30
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