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Swedish (OMX) Software Industry Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies66
  • 7D-5.6%
  • 3M-27.3%
  • 1Y-37.8%
  • YTD-8.6%

Over the last 7 days, the Software industry has dropped 5.6%, driven by Sinch declining 8.9%. In contrast, Clavister Holding AB (publ.) has gained 24%. The industry has fallen 38% in the last year. Looking forward, 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
Tue, 20 Jan 2026SEK 65.2bSEK 48.0bSEK 2.2b25.7x29.9x1.4x
Thu, 18 Dec 2025SEK 71.7bSEK 48.1bSEK 2.2b26.1x32.2x1.5x
Sat, 15 Nov 2025SEK 74.9bSEK 49.0bSEK 2.3b26.9x32.8x1.5x
Mon, 13 Oct 2025SEK 90.7bSEK 49.9b-SEK 3,689,446,022.3331.9x-24.6x1.8x
Wed, 10 Sep 2025SEK 93.6bSEK 49.9b-SEK 3,714,483,267.4335.3x-25.2x1.9x
Fri, 08 Aug 2025SEK 99.1bSEK 50.0b-SEK 3,434,560,356.2934.2x-28.9x2x
Sun, 06 Jul 2025SEK 162.3bSEK 52.5b-SEK 2,674,080,075.1733.6x-60.7x3.1x
Tue, 03 Jun 2025SEK 153.8bSEK 52.4b-SEK 2,700,745,377.7630.2x-57x2.9x
Thu, 01 May 2025SEK 157.8bSEK 52.1b-SEK 2,677,539,924.5131.6x-58.9x3x
Sat, 29 Mar 2025SEK 145.2bSEK 51.5b-SEK 3,144,293,891.4835x-46.2x2.8x
Mon, 24 Feb 2025SEK 160.9bSEK 49.9b-SEK 4,876,062,134.7141.9x-33x3.2x
Wed, 22 Jan 2025SEK 151.1bSEK 49.6b-SEK 9,686,211,888.6343.1x-15.6x3x
Fri, 20 Dec 2024SEK 145.4bSEK 49.3b-SEK 9,688,549,509.7440.4x-15x3x
Sun, 17 Nov 2024SEK 140.5bSEK 48.5b-SEK 9,785,313,618.2840x-14.4x2.9x
Tue, 15 Oct 2024SEK 144.4bSEK 47.7b-SEK 4,170,467,913.4437.9x-34.6x3x
Thu, 12 Sep 2024SEK 141.1bSEK 47.7b-SEK 4,210,532,956.0537.6x-33.5x3x
Sat, 10 Aug 2024SEK 140.5bSEK 47.4b-SEK 4,307,694,273.4053.7x-32.6x3x
Mon, 08 Jul 2024SEK 138.4bSEK 47.4b-SEK 4,444,811,098.4255.1x-31.1x2.9x
Wed, 05 Jun 2024SEK 137.6bSEK 47.6b-SEK 4,454,891,721.1055.3x-30.9x2.9x
Fri, 03 May 2024SEK 143.0bSEK 50.4b-SEK 4,642,579,906.6153.1x-30.8x2.8x
Sun, 31 Mar 2024SEK 147.5bSEK 51.2b-SEK 4,777,725,190.5048.7x-30.9x2.9x
Tue, 27 Feb 2024SEK 159.7bSEK 52.0b-SEK 5,133,001,516.8860.5x-31.1x3.1x
Thu, 25 Jan 2024SEK 151.5bSEK 50.4b-SEK 4,774,985,434.0067x-31.7x3x
Sat, 23 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,646,823,793.0065.9x-32.2x3x
Mon, 20 Nov 2023SEK 126.0bSEK 51.1b-SEK 4,842,295,008.0053.1x-26x2.5x
Wed, 18 Oct 2023SEK 122.3bSEK 50.8b-SEK 9,457,513,047.0043.7x-12.9x2.4x
Fri, 15 Sep 2023SEK 120.6bSEK 51.0b-SEK 9,553,270,116.0044.2x-12.6x2.4x
Sun, 13 Aug 2023SEK 129.4bSEK 50.9b-SEK 9,626,269,315.0045.9x-13.4x2.5x
Tue, 11 Jul 2023SEK 125.3bSEK 50.5b-SEK 9,578,931,106.0039.1x-13.1x2.5x
Thu, 08 Jun 2023SEK 129.3bSEK 50.5b-SEK 9,593,808,512.0041.2x-13.5x2.6x
Sat, 06 May 2023SEK 135.3bSEK 50.1b-SEK 9,327,798,667.0041.6x-14.5x2.7x
Mon, 03 Apr 2023SEK 135.5bSEK 49.7b-SEK 9,213,100,096.0042.9x-14.7x2.7x
Wed, 01 Mar 2023SEK 137.5bSEK 49.4b-SEK 8,969,433,127.0038x-15.3x2.8x
Fri, 27 Jan 2023SEK 147.2bSEK 46.3b-SEK 4,785,275,034.0030.9x-30.8x3.2x
Price to Earnings Ratio

-30.8x


Total Market Cap: SEK 147.2bTotal Earnings: -SEK 4,785,275,034.00Total Revenue: SEK 46.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -24.2x202420252026
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 29.9x 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 1.4x.
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-0.82%
Tech-3.91%
Software-5.60%
Systems Software-0.75%
Application Software-6.40%
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 32.3%, 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 4.2126.3%
+SEK 531.1m		101.2%PS7.2x
NORDIG Nord Insuretech GroupSEK 0.6313.6%
+SEK 27.0m		73.6%PS65.8x
ADVE AdvenicaSEK 19.482.6%
+SEK 22.0m		104.6%PE36.6x
CFISH CrunchfishSEK 2.8010.9%
+SEK 20.3m		180.1%PS24.6x
DONE Done.ai GroupSEK 7.222.1%
+SEK 12.5m		-63.4%PE0.3x

Latest News

VIT B
SEK 274.00
Vitec Software Group
7D
-6.2%
1Y
-49.9%
CLAV
SEK 4.21
Clavister Holding AB (publ.)
7D
26.3%
1Y
101.2%
SINCH
SEK 26.27
Sinch
7D
-7.1%
1Y
22.4%

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

Jan 17
Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?
SDS
SEK 9.90
Seamless Distribution Systems
7D
5.3%
1Y
36.6%

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%
TRUE B
SEK 15.35
Truecaller
7D
-12.8%
1Y
-75.4%

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 7.22
Done.ai Group
7D
2.1%
1Y
-63.4%
YUBICO
SEK 68.90
Yubico
7D
-9.3%
1Y
-71.8%

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.
CFISH
SEK 2.80
Crunchfish
7D
10.9%
1Y
180.1%

Is Crunchfish (STO:CFISH) In A Good Position To Invest In Growth?

Jan 04
Is Crunchfish (STO:CFISH) In A Good Position To Invest In Growth?
CINT
SEK 2.66
Cint Group
7D
-12.8%
1Y
-75.9%
VERT B
SEK 64.00
Vertiseit
7D
-3.3%
1Y
22.1%

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 19.48
Advenica
7D
2.6%
1Y
104.6%

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 23.50
Formpipe Software
7D
-7.8%
1Y
-3.3%
LIME
SEK 275.00
Lime Technologies
7D
-5.8%
1Y
-18.0%
LITI
SEK 15.00
Litium
7D
3.1%
1Y
51.5%
PREC
SEK 2.27
Precise Biometrics
7D
3.7%
1Y
-45.4%
NORDIG
SEK 0.63
Nord Insuretech Group
7D
13.6%
1Y
73.6%

Here's Why Nord Insuretech Group (NGM:NORDIG) Can Afford Some Debt

Jun 25
Here's Why Nord Insuretech Group (NGM:NORDIG) Can Afford Some Debt