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Swedish (OMX) Software Industry Analysis

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies66
  • 7D1.7%
  • 3M-15.7%
  • 1Y-30.2%
  • YTD-30.5%

Over the last 7 days, the Software industry has risen 3.2%, driven by gains from Sinch of 7.7%. In the past year, the industry is down 19%. Looking forward, earnings are forecast to grow by 55% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Dec 2025SEK 73.9bSEK 48.1bSEK 2.2b27.1x33.2x1.5x
Tue, 11 Nov 2025SEK 75.4bSEK 49.0bSEK 2.3b27.2x32.8x1.5x
Thu, 09 Oct 2025SEK 93.0bSEK 49.9b-SEK 3,689,696,544.7032.6x-25.2x1.9x
Sat, 06 Sep 2025SEK 92.2bSEK 49.9b-SEK 3,683,480,522.1334.2x-25x1.8x
Mon, 04 Aug 2025SEK 98.2bSEK 50.0b-SEK 3,434,415,812.2234.2x-28.6x2x
Wed, 02 Jul 2025SEK 160.4bSEK 52.4b-SEK 2,673,078,657.3333.3x-60x3.1x
Fri, 30 May 2025SEK 152.8bSEK 52.3b-SEK 2,717,538,256.7728.3x-56.2x2.9x
Sun, 27 Apr 2025SEK 157.6bSEK 52.0b-SEK 2,628,812,957.5333.9x-59.9x3x
Tue, 25 Mar 2025SEK 152.1bSEK 51.6b-SEK 3,145,349,216.7835.1x-48.4x3x
Thu, 20 Feb 2025SEK 165.6bSEK 50.1b-SEK 9,630,648,354.2841.4x-17.2x3.3x
Sat, 18 Jan 2025SEK 146.9bSEK 49.6b-SEK 9,707,498,586.1542.1x-15.1x3x
Mon, 16 Dec 2024SEK 149.7bSEK 49.3b-SEK 9,722,140,071.4842.2x-15.4x3x
Wed, 13 Nov 2024SEK 145.1bSEK 48.3b-SEK 9,952,789,511.8640.9x-14.6x3x
Fri, 11 Oct 2024SEK 141.6bSEK 47.7b-SEK 4,181,734,550.5338.7x-33.9x3x
Sun, 08 Sep 2024SEK 138.4bSEK 47.7b-SEK 4,201,208,221.6240x-32.9x2.9x
Tue, 06 Aug 2024SEK 134.0bSEK 47.5b-SEK 4,380,389,023.5751.3x-30.6x2.8x
Thu, 04 Jul 2024SEK 137.6bSEK 47.4b-SEK 4,427,271,509.8455.6x-31.1x2.9x
Sat, 01 Jun 2024SEK 138.4bSEK 47.1b-SEK 4,536,371,329.3352.5x-30.5x2.9x
Mon, 29 Apr 2024SEK 144.3bSEK 50.8b-SEK 4,695,152,062.5147.6x-30.7x2.8x
Wed, 27 Mar 2024SEK 152.3bSEK 51.2b-SEK 4,755,147,590.6848.6x-32x3x
Fri, 23 Feb 2024SEK 158.6bSEK 52.0b-SEK 4,299,869,728.4456.8x-36.9x3x
Sun, 21 Jan 2024SEK 144.1bSEK 50.4b-SEK 4,793,884,094.0065.6x-30x2.9x
Tue, 19 Dec 2023SEK 151.0bSEK 50.3b-SEK 4,700,212,383.0060.3x-32.1x3x
Thu, 16 Nov 2023SEK 125.2bSEK 51.1b-SEK 4,815,332,110.0053.3x-26x2.5x
Sat, 14 Oct 2023SEK 120.9bSEK 50.8b-SEK 9,476,381,229.0044.7x-12.8x2.4x
Mon, 11 Sep 2023SEK 119.6bSEK 50.9b-SEK 9,552,049,740.0046.2x-12.5x2.3x
Wed, 09 Aug 2023SEK 129.6bSEK 50.8b-SEK 9,541,000,597.0045.3x-13.6x2.6x
Fri, 07 Jul 2023SEK 121.6bSEK 50.5b-SEK 9,596,447,418.0040x-12.7x2.4x
Sun, 04 Jun 2023SEK 132.3bSEK 50.4b-SEK 9,562,163,616.0040.8x-13.8x2.6x
Tue, 02 May 2023SEK 135.8bSEK 48.3b-SEK 9,347,444,523.0042.4x-14.5x2.8x
Thu, 30 Mar 2023SEK 129.6bSEK 49.7b-SEK 9,204,455,516.0041.6x-14.1x2.6x
Sat, 25 Feb 2023SEK 131.4bSEK 49.3b-SEK 8,996,260,168.0043.7x-14.6x2.7x
Mon, 23 Jan 2023SEK 144.5bSEK 46.2b-SEK 4,758,610,269.0031.5x-30.4x3.1x
Wed, 21 Dec 2022SEK 130.1bSEK 45.9b-SEK 4,756,146,223.0031.9x-27.4x2.8x
Price to Earnings Ratio

-27.4x


Total Market Cap: SEK 130.1bTotal Earnings: -SEK 4,756,146,223.00Total Revenue: SEK 45.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -26.3x202320242025
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 45.1x which is higher than its 3-year average PE of -26.4x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.1x.
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-0.46%
Tech-1.24%
Software1.72%
Application Software2.40%
Systems Software-2.27%
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 56.7%, which is higher than its past year's earnings decline of 2.3% per year.
  • Investors are most pessimistic about the Systems Software industry, which is trading close to its 3-year average of 39.7x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 57% 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 35% 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 31.057.7%
+SEK 1.8b		46.5%PS0.9x
BRIX BrioxSEK 18.3514.7%
+SEK 174.9m		236.7%PS50.6x
SKOLON SkolonSEK 34.2010.7%
+SEK 87.6m		13.2%PS4.9x
SDS Seamless Distribution SystemsSEK 10.1027.8%
+SEK 47.2m		34.7%PS1.1x
SLEEP Sleep CycleSEK 24.306.1%
+SEK 28.4m		-36.1%PE8.3x

Latest News

SKOLON
SEK 34.20
Skolon
7D
10.7%
1Y
13.2%

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

Dec 13
After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar
VIT B
SEK 306.00
Vitec Software Group
7D
-0.4%
1Y
-40.1%
SINCH
SEK 31.05
Sinch
7D
7.7%
1Y
46.5%

SINCH: Share Buybacks Will Support Stronger Future Earnings Per Share

Analysts have modestly raised their price target for Sinch from $44.00 to $46.00, citing a slightly higher long term valuation multiple, despite marginally softer assumptions for revenue growth and profit margins. What's in the News Completed share buyback of 15,279,642 shares, equal to 1.81% of outstanding capital, for a total consideration of SEK 519 million under the program announced on August 12, 2025 (company disclosure) The buyback window ran from July 24, 2025 to September 30, 2025, signaling continued capital return to shareholders and management confidence in the equity valuation (company disclosure) The finalization of the SEK 519 million repurchase provides incremental support to earnings per share metrics through a lower share count in future reporting periods (company disclosure) Valuation Changes Fair Value: risen slightly from SEK 44.0 to SEK 46.0, reflecting a modestly higher long term valuation.
TRUE B
SEK 22.88
Truecaller
7D
-0.8%
1Y
-57.0%

TRUE B: Expanding Verified Call Solutions Will Drive Recovery As Execution Uncertainty Eases

Analysts have trimmed their blended price target for Truecaller from about SEK 56.50 to roughly SEK 50.80. They cite slightly higher discount rates, marginally softer long term growth and profitability assumptions, and a lower future earnings multiple, while still acknowledging the company’s solid fundamental profile.
YUBICO
SEK 80.34
Yubico
7D
-2.1%
1Y
-69.2%

YUBICO: Wider Retail Access Will Drive Future Demand Despite Recent Downgrade

Analysts trimmed their price target on Yubico to $124.67 from $124.67, a marginal adjustment that reflects slightly higher perceived risk and a more cautious stance following recent downgrades to Hold. Analyst Commentary Analysts describe the latest downgrade as a shift toward a more balanced risk reward profile, with the new Hold rating signaling tempered expectations for near term outperformance rather than a structural change in the company thesis.
LITI
SEK 13.85
Litium
7D
6.1%
1Y
77.1%
VERT B
SEK 61.80
Vertiseit
7D
-4.9%
1Y
11.6%
FPIP
SEK 26.70
Formpipe Software
7D
-4.0%
1Y
6.0%
CLAV
SEK 2.94
Clavister Holding AB (publ.)
7D
2.4%
1Y
47.1%

Clavister Holding AB (publ.) (STO:CLAV) Stocks Pounded By 29% But Not Lagging Industry On Growth Or Pricing

Dec 02
Clavister Holding AB (publ.) (STO:CLAV) Stocks Pounded By 29% But Not Lagging Industry On Growth Or Pricing
SLEEP
SEK 24.30
Sleep Cycle
7D
6.1%
1Y
-36.1%
SDS
SEK 10.10
Seamless Distribution Systems
7D
27.8%
1Y
34.7%

Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge

Nov 06
Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge
LIME
SEK 310.50
Lime Technologies
7D
-3.7%
1Y
-9.9%

Lime Technologies (STO:LIME) Has Announced A Dividend Of SEK2.00

Oct 28
Lime Technologies (STO:LIME) Has Announced A Dividend Of SEK2.00
BIM
SEK 4.82
BIMobject
7D
-3.9%
1Y
9.4%
BRIX
SEK 18.35
Briox
7D
14.7%
1Y
236.7%

Will Briox (NGM:BRIX) Spend Its Cash Wisely?

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?
EYEW
SEK 17.90
Eye World
7D
-7.9%
1Y
54.6%
NOWO
SEK 6.20
Nowonomics
7D
11.7%
1Y
106.7%