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Swedish (OMX) Software Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies66
  • 7D0.3%
  • 3M-18.3%
  • 1Y-27.8%
  • YTD0.3%

The Software industry has been flat over the last week, but Yubico has lost 4.8%. Unfortunately though, the industry is down 28% over the past 12 months. As for the next few years, earnings are expected to grow by 47% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026SEK 71.5bSEK 48.0bSEK 2.2b27.7x32.8x1.5x
Tue, 09 Dec 2025SEK 73.1bSEK 48.1bSEK 2.2b27.1x32.9x1.5x
Thu, 06 Nov 2025SEK 76.6bSEK 49.5b-SEK 3,790,036,575.5329.2x-20.2x1.5x
Sat, 04 Oct 2025SEK 91.3bSEK 49.9b-SEK 3,689,625,942.8632.9x-24.8x1.8x
Mon, 01 Sep 2025SEK 94.5bSEK 50.0b-SEK 3,632,239,636.0337.3x-26x1.9x
Wed, 30 Jul 2025SEK 100.4bSEK 50.0b-SEK 3,400,677,307.0735.4x-29.5x2x
Fri, 27 Jun 2025SEK 156.2bSEK 52.5b-SEK 2,694,107,394.6633.1x-58x3x
Sun, 25 May 2025SEK 151.6bSEK 52.3b-SEK 2,714,349,197.8929.7x-55.8x2.9x
Tue, 22 Apr 2025SEK 155.3bSEK 51.7b-SEK 2,764,304,421.3531.7x-56.2x3x
Thu, 20 Mar 2025SEK 152.1bSEK 51.6b-SEK 3,147,111,193.0234.9x-48.3x2.9x
Sat, 15 Feb 2025SEK 162.9bSEK 50.7b-SEK 9,649,254,798.3439.9x-16.9x3.2x
Mon, 13 Jan 2025SEK 140.6bSEK 49.6b-SEK 9,701,948,217.8642.5x-14.5x2.8x
Wed, 11 Dec 2024SEK 151.6bSEK 49.3b-SEK 9,734,168,441.7441.5x-15.6x3.1x
Fri, 08 Nov 2024SEK 142.3bSEK 48.4b-SEK 9,980,865,126.7141.2x-14.3x2.9x
Sun, 06 Oct 2024SEK 144.1bSEK 47.7b-SEK 4,188,841,432.1538.7x-34.4x3x
Tue, 03 Sep 2024SEK 142.4bSEK 47.7b-SEK 4,165,137,891.6138.3x-34.2x3x
Thu, 01 Aug 2024SEK 149.1bSEK 47.5b-SEK 4,418,774,911.3556.8x-33.7x3.1x
Sat, 29 Jun 2024SEK 139.4bSEK 47.4b-SEK 4,442,797,276.3855.4x-31.4x2.9x
Mon, 27 May 2024SEK 136.4bSEK 47.2b-SEK 4,609,918,687.0058.1x-29.6x2.9x
Wed, 24 Apr 2024SEK 143.1bSEK 50.8b-SEK 4,781,264,540.5947x-29.9x2.8x
Fri, 22 Mar 2024SEK 149.1bSEK 51.1b-SEK 4,707,437,891.5548.4x-31.7x2.9x
Sun, 18 Feb 2024SEK 161.1bSEK 51.0b-SEK 4,472,010,792.0058.3x-36x3.2x
Tue, 16 Jan 2024SEK 144.5bSEK 50.4b-SEK 4,752,260,606.0067.5x-30.4x2.9x
Thu, 14 Dec 2023SEK 143.6bSEK 50.4b-SEK 4,723,781,174.0058.9x-30.4x2.9x
Sat, 11 Nov 2023SEK 120.7bSEK 51.3b-SEK 4,893,469,641.0050.6x-24.7x2.4x
Mon, 09 Oct 2023SEK 115.1bSEK 50.8b-SEK 9,485,555,063.0045.1x-12.1x2.3x
Wed, 06 Sep 2023SEK 122.4bSEK 50.9b-SEK 9,551,696,106.0045.6x-12.8x2.4x
Fri, 04 Aug 2023SEK 130.8bSEK 50.8b-SEK 9,542,971,776.0046.2x-13.7x2.6x
Sun, 02 Jul 2023SEK 126.4bSEK 50.5b-SEK 9,593,379,065.0038.5x-13.2x2.5x
Tue, 30 May 2023SEK 128.7bSEK 50.4b-SEK 9,580,691,756.0040.7x-13.4x2.6x
Thu, 27 Apr 2023SEK 130.2bSEK 50.0b-SEK 9,208,801,702.0043.5x-14.1x2.6x
Sat, 25 Mar 2023SEK 128.3bSEK 49.3b-SEK 9,176,060,547.0044.6x-14x2.6x
Mon, 20 Feb 2023SEK 143.7bSEK 48.8b-SEK 5,358,081,035.0042.3x-26.8x2.9x
Wed, 18 Jan 2023SEK 150.4bSEK 46.3b-SEK 4,760,777,409.0031.5x-31.6x3.3x
Price to Earnings Ratio

-31.6x


Total Market Cap: SEK 150.4bTotal Earnings: -SEK 4,760,777,409.00Total Revenue: SEK 46.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -24.8x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.8x which is higher than its 3-year average PE of -24.8x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 1.5x.
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 Market2.90%
Tech1.12%
Software0.29%
Application Software0.88%
Systems Software-3.29%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 41.0x.
    • 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 49% 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
SINCH SinchSEK 31.432.4%
+SEK 601.8m		66.1%PS0.9x
LIME Lime TechnologiesSEK 288.005.5%
+SEK 199.9m		-20.4%PE37x
VIT B Vitec Software GroupSEK 291.400.5%
+SEK 55.8m		-43.6%PE29.3x
CLAV Clavister Holding AB (publ.)SEK 3.035.8%
+SEK 51.1m		33.8%PS4.3x
MSAB B Micro SystemationSEK 63.803.6%
+SEK 40.6m		19.0%PE27.9x

Latest News

SINCH
SEK 31.43
Sinch
7D
2.4%
1Y
66.1%

SINCH: Share Buybacks Will Support Future Upside Despite Cautious Margin Outlook

Analysts have kept their fair value estimate for Sinch steady at SEK 46.00. The unchanged target reflects a balance between a slightly lower discount rate and more cautious assumptions on revenue growth, profit margins and future P/E multiples.
TRUE B
SEK 18.21
Truecaller
7D
-1.6%
1Y
-64.4%
VIT B
SEK 291.40
Vitec Software Group
7D
0.5%
1Y
-43.6%

VIT B: Higher Growth Assumptions Will Likely Support A Stronger Share Price

Analysts have trimmed their price target for Vitec Software Group to SEK450. The change is largely tied to a lower assumed future P/E of about 27.8x, a slightly higher discount rate, a revised revenue growth assumption of 15.29% and a profit margin assumption of 14.47%.
TENEO
SEK 0.59
Teneo AI
7D
11.0%
1Y
24.5%
ONEF
SEK 24.00
Oneflow
7D
-4.0%
1Y
-36.5%

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
YUBICO
SEK 69.52
Yubico
7D
-4.8%
1Y
-67.4%

YUBICO: Wider Retail Distribution Will Support Future Upside Despite Hold Downgrade

Analysts have trimmed their price expectations for Yubico, cutting the fair value estimate from €124.67 to €108.00. They cite a shift toward more conservative assumptions on revenue growth, profit margins and future P/E multiples, alongside a recent downgrade to Hold in Street research.
GREAT
SEK 18.00
Greater Than
7D
-9.1%
1Y
-36.8%
ADVE
SEK 19.08
Advenica
7D
-4.2%
1Y
95.9%

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 25.50
Formpipe Software
7D
-1.9%
1Y
-1.5%
LIME
SEK 288.00
Lime Technologies
7D
5.5%
1Y
-20.4%
MSAB B
SEK 63.80
Micro Systemation
7D
3.6%
1Y
19.0%
COMINT
SEK 3.38
Comintelli
7D
67.3%
1Y
-19.5%
CLAV
SEK 3.03
Clavister Holding AB (publ.)
7D
5.8%
1Y
33.8%

Clavister Holding AB (publ.) (STO:CLAV) Stocks Pounded By 29% But Not Lagging Industry On Growth Or Pricing

Dec 02
Clavister Holding AB (publ.) (STO:CLAV) Stocks Pounded By 29% But Not Lagging Industry On Growth Or Pricing
SDS
SEK 10.40
Seamless Distribution Systems
7D
13.0%
1Y
33.3%

Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge

Nov 06
Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge
BRIX
SEK 21.00
Briox
7D
-1.9%
1Y
337.5%

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

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?
EYEW
SEK 18.66
Eye World
7D
-4.6%
1Y
24.4%