Is It Too Late To Consider Buying Fortnox AB (publ) (STO:FNOX)?
Nov 14
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Swedish (OMX) Software Industry Analysis
UpdatedNov 21, 2024
DataAggregated Company Financials
Companies69
- 7D-4.3%
- 3M-5.1%
- 1Y16.9%
- YTD3.7%
Over the last 7 days, the Software industry has dropped 4.3%, driven by declines in Fortnox and Sinch of 6.1% and 13%, respectively. In the past year, the industry has gained 17%. As for the next few years, earnings are expected to grow by 40% per annum.
Industry Valuation and Performance
Has the Swedish Software Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 21 Nov 2024 | SEK 137.7b | SEK 48.5b | -SEK 9,803,614,352.71 | 41.7x | -14x | 2.8x |
| Sat, 19 Oct 2024 | SEK 141.4b | SEK 47.8b | -SEK 4,191,510,711.54 | 38x | -33.7x | 3x |
| Mon, 16 Sep 2024 | SEK 139.3b | SEK 47.7b | -SEK 4,134,642,814.76 | 38x | -33.7x | 2.9x |
| Wed, 14 Aug 2024 | SEK 133.5b | SEK 47.4b | -SEK 4,316,960,049.89 | 52.9x | -30.9x | 2.8x |
| Fri, 12 Jul 2024 | SEK 138.6b | SEK 47.5b | -SEK 4,469,557,438.92 | 55.6x | -31x | 2.9x |
| Sun, 09 Jun 2024 | SEK 139.8b | SEK 47.6b | -SEK 4,482,262,472.90 | 55.2x | -31.2x | 2.9x |
| Tue, 07 May 2024 | SEK 144.6b | SEK 50.4b | -SEK 4,623,741,057.64 | 48.8x | -31.3x | 2.9x |
| Thu, 04 Apr 2024 | SEK 145.9b | SEK 51.2b | -SEK 4,784,587,323.62 | 49.5x | -30.5x | 2.8x |
| Sat, 02 Mar 2024 | SEK 163.1b | SEK 52.1b | -SEK 5,096,438,622.59 | 59x | -32x | 3.1x |
| Mon, 29 Jan 2024 | SEK 153.4b | SEK 50.4b | -SEK 4,773,063,677.00 | 67.9x | -32.1x | 3x |
| Wed, 27 Dec 2023 | SEK 149.5b | SEK 50.3b | -SEK 4,650,226,870.00 | 65.9x | -32.1x | 3x |
| Fri, 24 Nov 2023 | SEK 130.2b | SEK 51.1b | -SEK 4,828,211,688.00 | 51.8x | -27x | 2.5x |
| Sun, 22 Oct 2023 | SEK 115.1b | SEK 51.0b | -SEK 9,475,404,799.00 | 44.1x | -12.1x | 2.3x |
| Tue, 19 Sep 2023 | SEK 118.6b | SEK 51.0b | -SEK 9,558,395,901.00 | 43.6x | -12.4x | 2.3x |
| Thu, 17 Aug 2023 | SEK 126.7b | SEK 50.9b | -SEK 9,639,535,971.00 | 44.2x | -13.1x | 2.5x |
| Sat, 15 Jul 2023 | SEK 133.2b | SEK 50.7b | -SEK 9,341,176,226.00 | 41.5x | -14.3x | 2.6x |
| Mon, 12 Jun 2023 | SEK 128.6b | SEK 50.4b | -SEK 9,598,887,908.00 | 40.2x | -13.4x | 2.6x |
| Wed, 10 May 2023 | SEK 132.6b | SEK 50.1b | -SEK 9,328,048,446.00 | 39.9x | -14.2x | 2.6x |
| Fri, 07 Apr 2023 | SEK 132.6b | SEK 49.8b | -SEK 9,257,511,374.00 | 38.5x | -14.3x | 2.7x |
| Sun, 05 Mar 2023 | SEK 142.4b | SEK 49.2b | -SEK 9,030,928,588.00 | 37.7x | -15.8x | 2.9x |
| Tue, 31 Jan 2023 | SEK 141.3b | SEK 46.3b | -SEK 4,794,221,977.00 | 40.8x | -29.5x | 3x |
| Thu, 29 Dec 2022 | SEK 131.5b | SEK 46.2b | -SEK 4,761,568,055.00 | 31.2x | -27.6x | 2.8x |
| Sat, 26 Nov 2022 | SEK 132.4b | SEK 45.6b | -SEK 4,814,753,477.00 | 33.3x | -27.5x | 2.9x |
| Mon, 24 Oct 2022 | SEK 121.6b | SEK 41.9b | SEK 51.2m | 33.5x | 2375.6x | 2.9x |
| Wed, 21 Sep 2022 | SEK 117.1b | SEK 41.6b | SEK 37.4m | 36.8x | 3133.1x | 2.8x |
| Fri, 19 Aug 2022 | SEK 144.3b | SEK 41.3b | SEK 173.9m | 41.5x | 830.1x | 3.5x |
| Sun, 17 Jul 2022 | SEK 127.3b | SEK 36.8b | SEK 135.2m | 39.1x | 941.5x | 3.5x |
| Tue, 14 Jun 2022 | SEK 148.0b | SEK 37.2b | SEK 227.3m | 35.9x | 651x | 4x |
| Thu, 12 May 2022 | SEK 153.7b | SEK 36.7b | SEK 91.1m | 38.9x | 1687.3x | 4.2x |
| Sat, 09 Apr 2022 | SEK 186.9b | SEK 32.0b | -SEK 128,552,478.00 | 57.2x | -1453.9x | 5.8x |
| Mon, 07 Mar 2022 | SEK 172.6b | SEK 32.1b | SEK 128.4m | 52.4x | 1343.7x | 5.4x |
| Wed, 02 Feb 2022 | SEK 216.5b | SEK 26.8b | SEK 660.1m | 76.4x | 327.9x | 8.1x |
| Fri, 31 Dec 2021 | SEK 264.6b | SEK 26.7b | SEK 643.8m | 81.9x | 411x | 9.9x |
| Sun, 28 Nov 2021 | SEK 254.5b | SEK 26.1b | SEK 739.5m | 75.5x | 344.1x | 9.7x |
Price to Earnings Ratio
344.1x
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 3.6x is higher than the industry's current PS ratio of 2.8x.
Past Earnings Growth
- Total earnings for the Software industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 23% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Swedish Tech industry?
| SE Market | -2.05% | |
| Tech | -2.36% | |
| Software | -4.30% | |
| Systems Software | 3.41% | |
| Application Software | -5.83% | |
Industry PE
- Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 16.1x.
- Analysts are expecting annual earnings growth of 31.2%, which is lower than the prior year's growth of 109.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 42% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Systems Software industry is expected to see its earnings grow by 31% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| YUBICO Yubico | SEK 256.00 | 3.9% +SEK 818.1m | 150.0% | PE63.8x | |
| PREC Precise Biometrics | SEK 4.64 | 58.4% +SEK 132.3m | 409.9% | PS4.2x | |
| VERT B Vertiseit | SEK 58.40 | 5.8% +SEK 73.3m | 174.2% | PE38x | |
| TRUE B Truecaller | SEK 46.30 | 0.5% +SEK 68.5m | 57.5% | PE32.4x | |
| QBIT QuickBit eu | SEK 3.59 | 8.1% +SEK 37.8m | 744.7% | PS0.5x |
