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Swedish (OMX) Software Industry Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies66
  • 7D-2.7%
  • 3M-18.8%
  • 1Y-46.6%
  • YTD-14.0%

Over the last 7 days, the Software industry has dropped 2.7%, driven by a pullback from Sinch of 5.9%. Meanwhile, Vitec Software Group actually outperformed within the industry, gaining 6.7% in the last week. However, the industry is down 47% over the past year. Earnings are forecast to grow by 44% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Feb 2026SEK 61.2bSEK 48.1bSEK 2.2b23.9x27.5x1.3x
Thu, 08 Jan 2026SEK 71.5bSEK 48.0bSEK 2.2b26.8x32.1x1.5x
Sat, 06 Dec 2025SEK 73.3bSEK 48.1bSEK 2.2b27.3x33x1.5x
Mon, 03 Nov 2025SEK 86.8bSEK 50.0b-SEK 3,687,615,523.7531.2x-23.5x1.7x
Wed, 01 Oct 2025SEK 91.2bSEK 49.9b-SEK 3,689,446,403.3032.6x-24.7x1.8x
Fri, 29 Aug 2025SEK 95.0bSEK 49.9b-SEK 3,629,603,658.2037.5x-26.2x1.9x
Sun, 27 Jul 2025SEK 156.9bSEK 52.1b-SEK 2,629,577,608.3536.5x-59.7x3x
Tue, 24 Jun 2025SEK 153.6bSEK 52.5b-SEK 2,694,127,301.8431.9x-57x2.9x
Thu, 22 May 2025SEK 156.0bSEK 51.5b-SEK 2,695,051,192.0829.7x-57.9x3x
Sat, 19 Apr 2025SEK 155.3bSEK 51.7b-SEK 2,765,181,774.9931.7x-56.2x3x
Mon, 17 Mar 2025SEK 149.7bSEK 51.6b-SEK 3,147,165,626.7835.1x-47.6x2.9x
Wed, 12 Feb 2025SEK 163.4bSEK 49.7b-SEK 9,543,153,716.7439.5x-17.1x3.3x
Fri, 10 Jan 2025SEK 144.8bSEK 49.6b-SEK 9,701,210,989.9742.7x-14.9x2.9x
Sun, 08 Dec 2024SEK 154.3bSEK 49.3b-SEK 9,733,512,761.2241.4x-15.8x3.1x
Tue, 05 Nov 2024SEK 154.5bSEK 47.9b-SEK 3,967,654,057.1742x-38.9x3.2x
Thu, 03 Oct 2024SEK 143.2bSEK 47.6b-SEK 4,130,379,087.3238.6x-34.7x3x
Sat, 31 Aug 2024SEK 144.8bSEK 47.7b-SEK 4,176,264,581.2839.7x-34.7x3x
Mon, 29 Jul 2024SEK 147.4bSEK 47.6b-SEK 4,492,162,260.3055.8x-32.8x3.1x
Wed, 26 Jun 2024SEK 137.2bSEK 47.4b-SEK 4,401,228,950.8955x-31.2x2.9x
Fri, 24 May 2024SEK 150.9bSEK 50.0b-SEK 4,505,833,152.5759.9x-33.5x3x
Sun, 21 Apr 2024SEK 138.8bSEK 51.3b-SEK 4,820,758,737.3045.9x-28.8x2.7x
Tue, 19 Mar 2024SEK 146.5bSEK 51.1b-SEK 4,695,481,687.0249.2x-31.2x2.9x
Thu, 15 Feb 2024SEK 149.2bSEK 50.2b-SEK 4,996,745,833.7862.1x-29.9x3x
Sat, 13 Jan 2024SEK 149.3bSEK 50.4b-SEK 4,740,745,652.0067.7x-31.5x3x
Mon, 11 Dec 2023SEK 140.7bSEK 50.3b-SEK 4,721,583,263.0059.1x-29.8x2.8x
Wed, 08 Nov 2023SEK 117.7bSEK 51.0b-SEK 9,752,940,151.0042.6x-12.1x2.3x
Fri, 06 Oct 2023SEK 114.3bSEK 50.9b-SEK 9,490,198,033.0044.4x-12x2.2x
Sun, 03 Sep 2023SEK 122.0bSEK 50.9b-SEK 9,552,476,581.0046.3x-12.8x2.4x
Tue, 01 Aug 2023SEK 135.8bSEK 50.7b-SEK 9,482,727,157.0048.8x-14.3x2.7x
Thu, 29 Jun 2023SEK 123.5bSEK 50.5b-SEK 9,598,965,019.0039.7x-12.9x2.4x
Sat, 27 May 2023SEK 131.1bSEK 50.4b-SEK 9,570,646,338.0040.4x-13.7x2.6x
Mon, 24 Apr 2023SEK 128.2bSEK 49.6b-SEK 9,212,301,951.0043.5x-13.9x2.6x
Wed, 22 Mar 2023SEK 129.5bSEK 49.3b-SEK 9,147,191,678.0044.8x-14.2x2.6x
Fri, 17 Feb 2023SEK 147.2bSEK 46.7b-SEK 4,636,185,831.0043x-31.7x3.2x
Price to Earnings Ratio

-31.7x


Total Market Cap: SEK 147.2bTotal Earnings: -SEK 4,636,185,831.00Total Revenue: SEK 46.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -23.1x202420252026
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 27.5x which is higher than its 3-year average PE of -23.1x.
  • The 3-year average PS ratio of 2.6x 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 Market1.62%
Tech-1.64%
Software-2.69%
Systems Software-1.90%
Application Software-2.83%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 42.4x.
    • Analysts are expecting annual earnings growth of 27.7%, which is lower than the prior year's growth of 31.6% 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 3.3% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 28% 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
VIT B Vitec Software GroupSEK 261.006.7%
+SEK 654.2m		-58.3%PE23.9x
MSAB B Micro SystemationSEK 72.4010.7%
+SEK 129.3m		25.3%PE27.2x
EYEW Eye WorldSEK 20.359.8%
+SEK 72.8m		28.8%PS20.7x
RPLAN Ranplan GroupSEK 1.23209.0%
+SEK 64.2m		n/aPS4.2x
BIM BIMobjectSEK 4.994.1%
+SEK 28.8m		-16.6%PS4.1x

Latest News

YUBICO
SEK 61.80
Yubico
7D
-5.4%
1Y
-73.5%
UPSALE
SEK 24.20
Upsales Technology
7D
-17.7%
1Y
-26.2%
VIT B
SEK 261.00
Vitec Software Group
7D
6.7%
1Y
-58.3%

Here's What Analysts Are Forecasting For Vitec Software Group AB (publ) (STO:VIT B) After Its Full-Year Results

Feb 09
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SLEEP
SEK 16.22
Sleep Cycle
7D
-32.4%
1Y
-63.6%

These Analysts Just Made An Downgrade To Their Sleep Cycle AB (publ) (STO:SLEEP) EPS Forecasts

Feb 09
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TRUE B
SEK 14.30
Truecaller
7D
-4.5%
1Y
-79.4%

TRUE B: Family Features And Verified Business Calls Will Support Repricing

Narrative Update: Truecaller Analysts have kept their fair value estimate for Truecaller steady at SEK 68.0, citing a slightly higher discount rate and marginally stronger medium term revenue growth and profit margin assumptions as the key reasons for reaffirming their price view. Analyst Commentary Recent sector commentary around online auto platforms highlights Truecaller as part of a broader group of digital marketplaces that investors are watching closely.
SINCH
SEK 24.79
Sinch
7D
-5.9%
1Y
-0.6%

SINCH: Future Repricing Hinges On Execution And Profitability Delivery

Analysts have nudged their price expectations for Sinch higher, with the fair value estimate moving from SEK 35.57 to about SEK 35.94. They cite recent sector-wide rating adjustments and updated views on discount rates, revenue growth, profit margins and future P/E assumptions.
MSAB B
SEK 72.40
Micro Systemation
7D
10.7%
1Y
25.3%
CLAV
SEK 3.83
Clavister Holding AB (publ.)
7D
-5.2%
1Y
87.5%
RPLAN
SEK 1.23
Ranplan Group
7D
209.0%
1Y
n/a
LIME
SEK 242.00
Lime Technologies
7D
-4.2%
1Y
-24.1%
SKOLON
SEK 25.90
Skolon
7D
-12.8%
1Y
-19.8%

After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar

Dec 13
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BIM
SEK 4.99
BIMobject
7D
4.1%
1Y
-16.6%
NEO B
SEK 2.36
Neovici Holding
7D
26.2%
1Y
-68.5%
NORDIG
SEK 0.62
Nord Insuretech Group
7D
6.9%
1Y
87.9%

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
EYEW
SEK 20.35
Eye World
7D
9.8%
1Y
28.8%
CDMIL
SEK 16.40
CodeMill
7D
7.2%
1Y
10.8%