Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Software Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies67
  • 7D6.5%
  • 3M-20.1%
  • 1Y-43.1%
  • YTD-19.7%

Over the last 7 days, the Software industry has risen 6.5%, driven by gains from Sinch of 8.9%. In the past year, the industry is down 43%. As for the next few years, earnings are expected to grow by 32% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026SEK 57.4bSEK 46.0b-SEK 1,541,087,825.2224.6x-37.3x1.2x
Tue, 03 Mar 2026SEK 55.0bSEK 45.5b-SEK 1,544,049,579.7723.2x-35.7x1.2x
Thu, 29 Jan 2026SEK 65.9bSEK 48.0bSEK 2.2b26.2x30.1x1.4x
Sat, 27 Dec 2025SEK 72.0bSEK 48.1bSEK 2.2b27.9x32.4x1.5x
Mon, 24 Nov 2025SEK 72.1bSEK 48.9bSEK 2.3b26.6x31.6x1.5x
Wed, 22 Oct 2025SEK 91.5bSEK 49.9b-SEK 3,685,652,766.1031.4x-24.8x1.8x
Fri, 19 Sep 2025SEK 94.5bSEK 49.9b-SEK 3,714,611,407.6233.4x-25.4x1.9x
Sun, 17 Aug 2025SEK 94.9bSEK 49.9b-SEK 3,540,040,824.1134.7x-26.8x1.9x
Tue, 15 Jul 2025SEK 156.8bSEK 52.5b-SEK 2,682,465,020.1433.3x-58.5x3x
Thu, 12 Jun 2025SEK 156.2bSEK 52.4b-SEK 2,724,926,125.1531.5x-57.3x3x
Sat, 10 May 2025SEK 155.6bSEK 51.4b-SEK 2,668,238,664.6530.6x-58.3x3x
Mon, 07 Apr 2025SEK 151.3bSEK 51.7b-SEK 2,771,332,001.6433.8x-54.6x2.9x
Wed, 05 Mar 2025SEK 153.4bSEK 51.6b-SEK 3,162,746,579.9135.5x-48.5x3x
Fri, 31 Jan 2025SEK 157.7bSEK 49.6b-SEK 9,673,196,562.0940.9x-16.3x3.2x
Sun, 29 Dec 2024SEK 148.4bSEK 49.6b-SEK 9,704,120,582.0940.3x-15.3x3x
Tue, 26 Nov 2024SEK 144.4bSEK 48.5b-SEK 9,742,810,209.2141.1x-14.8x3x
Thu, 24 Oct 2024SEK 144.7bSEK 47.9b-SEK 4,175,324,725.5437.8x-34.7x3x
Sat, 21 Sep 2024SEK 146.5bSEK 47.7b-SEK 4,180,036,531.7238.9x-35x3.1x
Mon, 19 Aug 2024SEK 141.9bSEK 47.6b-SEK 4,275,627,966.7252.1x-33.2x3x
Wed, 17 Jul 2024SEK 144.0bSEK 47.8b-SEK 4,472,008,676.0857.1x-32.2x3x
Fri, 14 Jun 2024SEK 141.8bSEK 47.6b-SEK 4,423,180,882.7057.2x-32.1x3x
Sun, 12 May 2024SEK 145.0bSEK 50.3b-SEK 4,610,968,882.2653.2x-31.5x2.9x
Tue, 09 Apr 2024SEK 145.8bSEK 51.2b-SEK 4,752,774,763.2350.1x-30.7x2.8x
Thu, 07 Mar 2024SEK 158.8bSEK 52.1b-SEK 5,113,916,100.4456.4x-31.1x3.1x
Sat, 03 Feb 2024SEK 147.0bSEK 50.6b-SEK 4,751,090,498.0058x-30.9x2.9x
Mon, 01 Jan 2024SEK 154.4bSEK 50.3b-SEK 4,687,325,291.0067.2x-32.9x3.1x
Wed, 29 Nov 2023SEK 130.7bSEK 51.1b-SEK 4,797,956,913.0058x-27.2x2.6x
Fri, 27 Oct 2023SEK 113.3bSEK 51.1b-SEK 9,736,311,149.0044.8x-11.6x2.2x
Sun, 24 Sep 2023SEK 120.4bSEK 51.0b-SEK 9,577,202,634.0046.6x-12.6x2.4x
Tue, 22 Aug 2023SEK 123.8bSEK 51.0b-SEK 9,661,851,771.0046x-12.8x2.4x
Thu, 20 Jul 2023SEK 133.2bSEK 50.7b-SEK 9,345,730,924.0042.3x-14.2x2.6x
Sat, 17 Jun 2023SEK 131.1bSEK 50.4b-SEK 9,597,095,300.0039.1x-13.7x2.6x
Mon, 15 May 2023SEK 136.5bSEK 50.2b-SEK 9,416,783,081.0039.3x-14.5x2.7x
Wed, 12 Apr 2023SEK 133.3bSEK 49.8b-SEK 9,266,761,812.0040x-14.4x2.7x
Price to Earnings Ratio

-14.4x


Total Market Cap: SEK 133.3bTotal Earnings: -SEK 9,266,761,812.00Total Revenue: SEK 49.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -22.3x202420252026
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 2.6x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Software industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 2.6% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

Which industries have driven the changes within the Swedish Tech industry?

SE Market3.68%
Tech1.83%
Software6.50%
Application Software6.67%
Systems Software5.23%
Industry PE
  • Investors are most optimistic about the Systems Software industry, which is trading close to its 3-year average PE ratio of 45.9x.
    • Analysts are expecting annual earnings growth of 34.4%, which is lower than the prior year's growth of 43.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 34% over the next 5 years.
  • However this is lower than its past earnings growth rate of 43% per year.
  • In contrast, the Application 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 25.328.9%
+SEK 1.5b		43.9%PE85.5x
VIT B Vitec Software GroupSEK 241.809.8%
+SEK 861.6m		-52.7%PE22.2x
SMCRT SmartCraft GroupSEK 17.348.1%
+SEK 208.3m		n/aPE34.4x
YUBICO YubicoSEK 35.016.9%
+SEK 196.2m		-80.5%PE23.6x
TRUE B TruecallerSEK 10.655.8%
+SEK 185.9m		-84.1%PE9x

Latest News

VIT B
SEK 241.80
Vitec Software Group
7D
9.8%
1Y
-52.7%
SMCRT
SEK 17.34
SmartCraft Group
7D
8.1%
1Y
n/a
YUBICO
SEK 35.01
Yubico
7D
6.9%
1Y
-80.5%

YUBICO: Expanded Service Platform And New Hubs Will Support Long-Term Profitability

Analysts have reduced their fair value estimate for Yubico to SEK 80.00 from SEK 100.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E that indicate a more measured outlook for the shares. What's in the News Yubico expanded its YubiKey as a Service Enrollment offering to support in-the-field enrollment of YubiKeys for Microsoft and PingID environments, including a new Enroll app in Limited Early Access for Android and an SDK option planned to help enterprises tailor onboarding and recovery workflows.
CFISH
SEK 2.69
Crunchfish
7D
-3.8%
1Y
283.7%
MSAB B
SEK 65.60
Micro Systemation
7D
8.6%
1Y
34.2%

MSAB B: Higher Margin Outlook And Dividend Policy Will Support Upside

Analysts have lifted their price target on Micro Systemation from SEK 70 to SEK 81, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple as key factors behind the revised outlook. What's in the News Micro Systemation plans a Capital Markets Day focused on MSAB's strategy for growth, market positioning and financial outlook, including presentations on key initiatives, customer cases and its mobile forensics technology (company event).
LIME
SEK 206.50
Lime Technologies
7D
3.8%
1Y
-39.4%

LIME: AI Expansion And Buyback Authorization Will Support Future Upside

Analysts have nudged their price target for Lime Technologies slightly higher to SEK332.75 from SEK332, reflecting small model adjustments to revenue growth, profit margins and future P/E assumptions. What's in the News Lime Technologies has a proposal for a split dividend in 2026, with the first record date on 4 May 2026 and expected payment on 7 May 2026 through Euroclear Sweden AB, subject to approval at the annual general meeting (Key Developments).
SINCH
SEK 25.32
Sinch
7D
8.9%
1Y
43.9%

SINCH: Future Upside Will Hinge On AI Agent Execution

Sinch’s analyst price target range is now SEK 18 to SEK 29, reflecting a mix of lower targets such as Goldman Sachs at SEK 18 and higher ones like SEK 29, as analysts reassess the stock based on updated ratings and sector views. Analyst Commentary Recent Street research on Sinch shows a split view, with some analysts turning more constructive while others stay cautious or move to more neutral stances.
TRUE B
SEK 10.65
Truecaller
7D
5.8%
1Y
-84.1%

TRUE B: Global Ad Reseller Deals And Buybacks Will Support Future Rerating

Analysts now anchor their Truecaller view around a SEK 15.0 price target. The change in stance reflects mixed rating actions but broadly consistent assumptions on fair value, discount rate and future P/E multiples.
VERT B
SEK 54.80
Vertiseit
7D
-2.8%
1Y
0%
QBNK
SEK 6.75
QBNK Holding
7D
-23.3%
1Y
n/a
TENEO
SEK 0.49
Teneo AI
7D
-2.9%
1Y
-23.0%
4C
SEK 8.44
4C Group
7D
-3.9%
1Y
-44.5%
AMIDO
SEK 3.64
Amido
7D
-8.5%
1Y
-6.7%
RPLAN
SEK 1.10
Ranplan Group
7D
-12.0%
1Y
n/a
CLAV
SEK 4.39
Clavister Holding AB (publ.)
7D
6.4%
1Y
21.8%
VALUNO
SEK 0.25
Valuno Group
7D
-8.8%
1Y
-89.4%