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Swedish (OMX) Software Industry Analysis

UpdatedJan 22, 2026
DataAggregated Company Financials
Companies66
  • 7D-6.1%
  • 3M-28.4%
  • 1Y-41.2%
  • YTD-10.1%

Over the last 7 days, the Software industry has dropped 6.7%, driven by a pullback from Sinch of 7.1%. Meanwhile, Clavister Holding AB (publ.) actually outperformed within the industry, gaining 26% in the last week. However, the industry is down 40% over the past year. As for the next few years, earnings are expected to grow by 45% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 22 Jan 2026SEK 64.1bSEK 48.0bSEK 2.2b25.5x29.4x1.3x
Sat, 20 Dec 2025SEK 72.0bSEK 48.1bSEK 2.2b27x32.4x1.5x
Mon, 17 Nov 2025SEK 75.1bSEK 49.0bSEK 2.3b27.1x33x1.5x
Wed, 15 Oct 2025SEK 90.3bSEK 50.0b-SEK 3,689,388,545.1531.8x-24.5x1.8x
Fri, 12 Sep 2025SEK 91.5bSEK 49.9b-SEK 3,714,662,937.4934.2x-24.6x1.8x
Sun, 10 Aug 2025SEK 97.7bSEK 50.0b-SEK 3,434,579,526.3535.2x-28.4x2x
Tue, 08 Jul 2025SEK 160.8bSEK 52.4b-SEK 2,673,156,803.9433.1x-60.1x3.1x
Thu, 05 Jun 2025SEK 157.8bSEK 52.4b-SEK 2,701,103,317.1932.1x-58.4x3x
Sat, 03 May 2025SEK 160.1bSEK 51.1b-SEK 2,662,747,988.3332x-60.1x3.1x
Mon, 31 Mar 2025SEK 145.3bSEK 51.5b-SEK 3,144,293,891.4835x-46.2x2.8x
Wed, 26 Feb 2025SEK 161.1bSEK 51.3b-SEK 4,804,643,012.2841.7x-33.5x3.1x
Fri, 24 Jan 2025SEK 153.5bSEK 49.6b-SEK 9,691,923,480.1443.5x-15.8x3.1x
Sun, 22 Dec 2024SEK 145.8bSEK 49.3b-SEK 9,714,992,901.0540.4x-15x3x
Tue, 19 Nov 2024SEK 139.0bSEK 48.5b-SEK 9,780,403,618.2842x-14.2x2.9x
Thu, 17 Oct 2024SEK 141.8bSEK 47.7b-SEK 4,202,417,432.2338x-33.7x3x
Sat, 14 Sep 2024SEK 139.6bSEK 47.7b-SEK 4,159,453,364.7638.5x-33.6x2.9x
Mon, 12 Aug 2024SEK 140.5bSEK 47.4b-SEK 4,307,694,273.4053.7x-32.6x3x
Wed, 10 Jul 2024SEK 138.6bSEK 47.5b-SEK 4,471,270,677.6855.3x-31x2.9x
Fri, 07 Jun 2024SEK 139.9bSEK 47.6b-SEK 4,427,769,868.7456.4x-31.6x2.9x
Sun, 05 May 2024SEK 143.5bSEK 50.4b-SEK 4,619,516,305.2750x-31.1x2.8x
Tue, 02 Apr 2024SEK 147.5bSEK 51.2b-SEK 4,783,648,081.4548.7x-30.8x2.9x
Thu, 29 Feb 2024SEK 159.5bSEK 52.1b-SEK 5,152,207,987.8057.7x-31x3.1x
Sat, 27 Jan 2024SEK 153.4bSEK 50.4b-SEK 4,773,063,677.0067.9x-32.1x3x
Mon, 25 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,645,700,895.0065.9x-32.2x3x
Wed, 22 Nov 2023SEK 129.4bSEK 51.1b-SEK 4,826,970,042.0053.4x-26.8x2.5x
Fri, 20 Oct 2023SEK 117.6bSEK 50.8b-SEK 9,483,738,791.0045.4x-12.4x2.3x
Sun, 17 Sep 2023SEK 119.1bSEK 51.0b-SEK 9,558,807,874.0044.2x-12.5x2.3x
Tue, 15 Aug 2023SEK 129.7bSEK 50.9b-SEK 9,603,627,188.0046x-13.5x2.5x
Thu, 13 Jul 2023SEK 128.3bSEK 50.3b-SEK 9,467,096,029.0041.7x-13.6x2.6x
Sat, 10 Jun 2023SEK 128.6bSEK 50.5b-SEK 9,584,041,106.0040.2x-13.4x2.5x
Mon, 08 May 2023SEK 135.3bSEK 50.1b-SEK 9,336,787,119.0041.6x-14.5x2.7x
Wed, 05 Apr 2023SEK 133.7bSEK 49.7b-SEK 9,214,369,757.0040.3x-14.5x2.7x
Fri, 03 Mar 2023SEK 139.3bSEK 49.4b-SEK 8,991,537,362.0036.9x-15.5x2.8x
Sun, 29 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 29.7x which is higher than its 3-year average PE of -24.2x.
  • The 3-year average PS ratio of 2.7x 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 Market-0.55%
Tech-2.97%
Software-6.08%
Systems Software-5.08%
Application Software-6.25%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 41.5x.
    • 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 47% 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
CLAV Clavister Holding AB (publ.)SEK 4.0225.1%
+SEK 497.7m		88.5%PS6.9x
DONE Done.ai GroupSEK 8.9025.7%
+SEK 151.5m		-55.3%PE0.4x
MODEL ModelonSEK 12.009.1%
+SEK 18.2m		-6.3%PS2.8x
TERRNT B TerranetSEK 0.0675.1%
+SEK 7.4m		-48.5%PS22.2x
NEO B Neovici HoldingSEK 2.236.7%
+SEK 6.1m		-72.1%n/a

Latest News

YUBICO
SEK 69.64
Yubico
7D
-6.4%
1Y
-71.6%

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 2.67
Cint Group
7D
-9.7%
1Y
-75.3%

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 267.40
Vitec Software Group
7D
-7.0%
1Y
-51.9%
CLAV
SEK 4.02
Clavister Holding AB (publ.)
7D
25.1%
1Y
88.5%
SINCH
SEK 26.05
Sinch
7D
-6.8%
1Y
22.2%

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

Jan 17
Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?
TRUE B
SEK 15.06
Truecaller
7D
-12.4%
1Y
-76.7%

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 8.90
Done.ai Group
7D
25.7%
1Y
-55.3%
ONEF
SEK 22.20
Oneflow
7D
0.9%
1Y
-41.4%

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
FPIP
SEK 23.60
Formpipe Software
7D
-5.2%
1Y
0%
LIME
SEK 266.00
Lime Technologies
7D
-4.3%
1Y
-21.1%
SKOLON
SEK 27.80
Skolon
7D
0.7%
1Y
-8.9%

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
MODEL
SEK 12.00
Modelon
7D
9.1%
1Y
-6.3%
PREC
SEK 2.22
Precise Biometrics
7D
3.2%
1Y
-45.9%
TERRNT B
SEK 0.067
Terranet
7D
5.1%
1Y
-48.5%
BRIX
SEK 19.90
Briox
7D
-4.8%
1Y
306.1%

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

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?
NEO B
SEK 2.23
Neovici Holding
7D
6.7%
1Y
-72.1%