Analysis Article • Jul 29
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- 7D2.3%
- 3M11.4%
- 1Y-11.4%
- YTD12.9%
The Software is pretty flat in the last 7 days, but Sinch has stood out, gaining 3.4%. Unfortunately though, the industry is down 13% over the past 12 months. Earnings are forecast to grow by 31% annually.
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, 20 Aug 2026 | SEK 83.8b | SEK 43.6b | SEK 516.1m | 24.6x | 162.4x | 1.9x |
| Sat, 18 Jul 2026 | SEK 77.3b | SEK 45.5b | -SEK 1,408,949,575.75 | 22.1x | -54.8x | 1.7x |
| Mon, 15 Jun 2026 | SEK 71.4b | SEK 45.5b | -SEK 1,385,429,647.81 | 23.7x | -51.5x | 1.6x |
| Wed, 13 May 2026 | SEK 71.9b | SEK 45.1b | -SEK 1,336,428,910.53 | 27.3x | -53.8x | 1.6x |
| Fri, 10 Apr 2026 | SEK 57.2b | SEK 46.0b | -SEK 1,516,791,494.33 | 23.3x | -37.7x | 1.2x |
| Sun, 08 Mar 2026 | SEK 56.5b | SEK 45.5b | -SEK 1,596,337,409.07 | 25x | -35.4x | 1.2x |
| Tue, 03 Feb 2026 | SEK 63.0b | SEK 48.0b | SEK 2.2b | 24.6x | 28.8x | 1.3x |
| Thu, 01 Jan 2026 | SEK 73.4b | SEK 48.1b | SEK 2.2b | 27.8x | 32.9x | 1.5x |
| Sat, 29 Nov 2025 | SEK 74.5b | SEK 48.9b | SEK 2.3b | 27.5x | 32.9x | 1.5x |
| Mon, 27 Oct 2025 | SEK 89.2b | SEK 50.0b | -SEK 3,706,279,642.68 | 29.7x | -24.1x | 1.8x |
| Wed, 24 Sep 2025 | SEK 92.7b | SEK 49.9b | -SEK 3,689,539,799.17 | 33x | -25.1x | 1.9x |
| Fri, 22 Aug 2025 | SEK 95.9b | SEK 49.9b | -SEK 3,656,595,934.50 | 34.6x | -26.2x | 1.9x |
| Sun, 20 Jul 2025 | SEK 154.4b | SEK 52.6b | -SEK 2,577,392,103.39 | 34.2x | -59.9x | 2.9x |
| Tue, 17 Jun 2025 | SEK 156.8b | SEK 52.4b | -SEK 2,724,829,315.49 | 34.7x | -57.6x | 3x |
| Thu, 15 May 2025 | SEK 155.9b | SEK 51.6b | -SEK 2,690,194,935.20 | 29.7x | -58x | 3x |
| Sat, 12 Apr 2025 | SEK 151.1b | SEK 51.8b | -SEK 2,768,653,318.12 | 30.4x | -54.6x | 2.9x |
| Mon, 10 Mar 2025 | SEK 153.0b | SEK 51.6b | -SEK 3,144,087,827.28 | 36.3x | -48.7x | 3x |
| Wed, 05 Feb 2025 | SEK 159.8b | SEK 49.6b | -SEK 9,622,957,484.55 | 40.1x | -16.6x | 3.2x |
| Fri, 03 Jan 2025 | SEK 150.8b | SEK 49.6b | -SEK 9,677,463,476.90 | 42.4x | -15.6x | 3x |
| Sun, 01 Dec 2024 | SEK 144.4b | SEK 49.3b | -SEK 9,724,493,138.41 | 42.1x | -14.9x | 2.9x |
| Tue, 29 Oct 2024 | SEK 153.8b | SEK 47.8b | -SEK 3,964,651,471.44 | 43.5x | -38.8x | 3.2x |
| Thu, 26 Sep 2024 | SEK 142.7b | SEK 47.7b | -SEK 4,172,647,229.33 | 38.7x | -34.2x | 3x |
| Sat, 24 Aug 2024 | SEK 147.2b | SEK 47.8b | -SEK 4,282,248,570.84 | 46.7x | -34.4x | 3.1x |
| Mon, 22 Jul 2024 | SEK 144.8b | SEK 47.5b | -SEK 4,461,725,035.17 | 57.6x | -32.5x | 3x |
| Wed, 19 Jun 2024 | SEK 138.2b | SEK 47.5b | -SEK 4,402,840,317.18 | 55.1x | -31.4x | 2.9x |
| Fri, 17 May 2024 | SEK 150.1b | SEK 50.4b | -SEK 4,563,190,976.17 | 54.5x | -32.9x | 3x |
| Sun, 14 Apr 2024 | SEK 144.3b | SEK 51.2b | -SEK 4,811,461,017.38 | 49.5x | -30x | 2.8x |
| Tue, 12 Mar 2024 | SEK 157.3b | SEK 52.1b | -SEK 4,938,555,660.11 | 57.1x | -31.8x | 3x |
| Thu, 08 Feb 2024 | SEK 144.2b | SEK 50.0b | -SEK 4,727,324,501.86 | 59.7x | -30.5x | 2.9x |
| Sat, 06 Jan 2024 | SEK 147.5b | SEK 50.4b | -SEK 4,722,543,793.00 | 65.5x | -31.2x | 2.9x |
| Mon, 04 Dec 2023 | SEK 133.7b | SEK 50.3b | -SEK 4,754,525,427.00 | 56.6x | -28.1x | 2.7x |
| Wed, 01 Nov 2023 | SEK 109.1b | SEK 51.1b | -SEK 9,716,132,155.00 | 38x | -11.2x | 2.1x |
| Fri, 29 Sep 2023 | SEK 116.2b | SEK 50.8b | -SEK 9,463,215,103.00 | 44.1x | -12.3x | 2.3x |
| Sun, 27 Aug 2023 | SEK 119.6b | SEK 51.0b | -SEK 9,555,265,948.00 | 45x | -12.5x | 2.3x |
Price to Earnings Ratio
-12.5x
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 163x which is higher than its 3-year average PE of -25.3x.
- The 3-year average PS ratio of 2.4x is higher than the industry's current PS ratio of 1.9x.
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 declined 5.1% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Swedish Tech industry?
| SE Market | -1.13% | |
| Tech | -0.23% | |
| Software | 2.27% | |
| Application Software | 2.60% | |
| Systems Software | 0.69% | |
Industry PE
- Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 29.5%, which is higher than its past year's earnings decline of 8.2% per year.
- Investors are most pessimistic about the Systems Software industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 60.4x.
Forecasted Growth
- Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 36% over the next 5 years.
- However this is lower than its past earnings growth rate of 96% per year.
- In contrast, the Application Software industry is expected to see its earnings grow by 30% 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 | |
|---|---|---|---|---|---|
| SINCH Sinch | SEK 43.93 | 3.4% +SEK 1.0b | 48.3% | PE68.8x | |
| VIT B Vitec Software Group | SEK 249.80 | 4.9% +SEK 462.3m | -33.5% | PE21.4x | |
| TRUE B Truecaller | SEK 20.07 | 4.6% +SEK 284.8m | -56.4% | PE25.7x | |
| YUBICO Yubico | SEK 93.20 | 2.3% +SEK 180.1m | -30.4% | PE52.9x | |
| LIME Lime Technologies | SEK 238.50 | 5.8% +SEK 173.5m | -28.6% | PE26.6x |