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Swedish (OMX) Software Industry Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies66
  • 7D-4.0%
  • 3M-23.0%
  • 1Y-50.8%
  • YTD-19.1%

Over the last 7 days, the Software industry has dropped 4.0%, and Lime Technologies contributed the most with a 26% decline. Meanwhile, Vitec Software Group actually outperformed within the industry, gaining 5.3% in the last week. Overall the industry is down 51% in 12 months. As for the next few years, earnings are expected to grow by 45% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Feb 2026SEK 57.5bSEK 48.1bSEK 2.2b20.4x25.9x1.2x
Sun, 11 Jan 2026SEK 71.5bSEK 48.0bSEK 2.2b27.7x32.8x1.5x
Tue, 09 Dec 2025SEK 73.1bSEK 48.1bSEK 2.2b27.1x32.9x1.5x
Thu, 06 Nov 2025SEK 76.6bSEK 49.5b-SEK 3,790,036,575.5329.2x-20.2x1.5x
Sat, 04 Oct 2025SEK 91.3bSEK 49.9b-SEK 3,689,625,942.8632.9x-24.8x1.8x
Mon, 01 Sep 2025SEK 94.5bSEK 50.0b-SEK 3,632,239,636.0337.3x-26x1.9x
Wed, 30 Jul 2025SEK 100.4bSEK 50.0b-SEK 3,400,677,307.0735.4x-29.5x2x
Fri, 27 Jun 2025SEK 156.2bSEK 52.5b-SEK 2,694,107,394.6633.1x-58x3x
Sun, 25 May 2025SEK 151.6bSEK 52.3b-SEK 2,714,349,197.8929.7x-55.8x2.9x
Tue, 22 Apr 2025SEK 155.3bSEK 51.7b-SEK 2,764,304,421.3531.7x-56.2x3x
Thu, 20 Mar 2025SEK 152.1bSEK 51.6b-SEK 3,147,111,193.0234.9x-48.3x2.9x
Sat, 15 Feb 2025SEK 162.9bSEK 50.7b-SEK 9,649,254,798.3439.9x-16.9x3.2x
Mon, 13 Jan 2025SEK 140.6bSEK 49.6b-SEK 9,701,948,217.8642.5x-14.5x2.8x
Wed, 11 Dec 2024SEK 151.6bSEK 49.3b-SEK 9,734,168,441.7441.5x-15.6x3.1x
Fri, 08 Nov 2024SEK 142.3bSEK 48.4b-SEK 9,980,865,126.7141.2x-14.3x2.9x
Sun, 06 Oct 2024SEK 144.1bSEK 47.7b-SEK 4,188,841,432.1538.7x-34.4x3x
Tue, 03 Sep 2024SEK 142.4bSEK 47.7b-SEK 4,165,137,891.6138.3x-34.2x3x
Thu, 01 Aug 2024SEK 149.1bSEK 47.5b-SEK 4,418,774,911.3556.8x-33.7x3.1x
Sat, 29 Jun 2024SEK 139.4bSEK 47.4b-SEK 4,442,797,276.3855.4x-31.4x2.9x
Mon, 27 May 2024SEK 136.4bSEK 47.2b-SEK 4,609,918,687.0058.1x-29.6x2.9x
Wed, 24 Apr 2024SEK 143.1bSEK 50.8b-SEK 4,781,264,540.5947x-29.9x2.8x
Fri, 22 Mar 2024SEK 149.1bSEK 51.1b-SEK 4,707,437,891.5548.4x-31.7x2.9x
Sun, 18 Feb 2024SEK 161.1bSEK 51.0b-SEK 4,472,010,792.0058.3x-36x3.2x
Tue, 16 Jan 2024SEK 144.5bSEK 50.4b-SEK 4,752,260,606.0067.5x-30.4x2.9x
Thu, 14 Dec 2023SEK 143.6bSEK 50.4b-SEK 4,723,781,174.0058.9x-30.4x2.9x
Sat, 11 Nov 2023SEK 120.7bSEK 51.3b-SEK 4,893,469,641.0050.6x-24.7x2.4x
Mon, 09 Oct 2023SEK 115.1bSEK 50.8b-SEK 9,485,555,063.0045.1x-12.1x2.3x
Wed, 06 Sep 2023SEK 122.4bSEK 50.9b-SEK 9,551,696,106.0045.6x-12.8x2.4x
Fri, 04 Aug 2023SEK 130.8bSEK 50.8b-SEK 9,542,971,776.0046.2x-13.7x2.6x
Sun, 02 Jul 2023SEK 126.4bSEK 50.5b-SEK 9,593,379,065.0038.5x-13.2x2.5x
Tue, 30 May 2023SEK 128.7bSEK 50.4b-SEK 9,580,691,756.0040.7x-13.4x2.6x
Thu, 27 Apr 2023SEK 130.2bSEK 50.0b-SEK 9,208,801,702.0043.5x-14.1x2.6x
Sat, 25 Mar 2023SEK 128.3bSEK 49.3b-SEK 9,176,060,547.0044.6x-14x2.6x
Mon, 20 Feb 2023SEK 143.7bSEK 48.8b-SEK 5,358,081,035.0042.3x-26.8x2.9x
Price to Earnings Ratio

-26.8x


Total Market Cap: SEK 143.7bTotal Earnings: -SEK 5,358,081,035.00Total Revenue: SEK 48.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -22.9x202420252026
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 25.9x which is higher than its 3-year average PE of -22.9x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.2x.
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 Market0.078%
Tech-1.84%
Software-4.03%
Application Software-3.38%
Systems Software-7.69%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 42.6x.
    • Analysts are expecting annual earnings growth of 26.7%, 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 48% 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 27% 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 238.005.3%
+SEK 478.7m		-62.6%PE21.8x
BRIX BrioxSEK 21.4010.6%
+SEK 155.9m		289.1%PS60.3x
EYEW Eye WorldSEK 23.0014.4%
+SEK 116.6m		23.7%PS23.5x
NEO B Neovici HoldingSEK 3.2993.0%
+SEK 69.3m		-56.1%n/a
SDS Seamless Distribution SystemsSEK 9.8018.8%
+SEK 33.3m		53.1%PS1.1x

Latest News

CINT
SEK 2.24
Cint Group
7D
-12.1%
1Y
-73.7%

Take Care Before Jumping Onto Cint Group AB (publ) (STO:CINT) Even Though It's 27% Cheaper

Feb 13
Take Care Before Jumping Onto Cint Group AB (publ) (STO:CINT) Even Though It's 27% Cheaper
LIME
SEK 178.00
Lime Technologies
7D
-25.8%
1Y
-53.2%

Some Confidence Is Lacking In Lime Technologies AB (publ) (STO:LIME) As Shares Slide 39%

Feb 13
Some Confidence Is Lacking In Lime Technologies AB (publ) (STO:LIME) As Shares Slide 39%
VIT B
SEK 238.00
Vitec Software Group
7D
5.3%
1Y
-62.6%

Vitec Software Group (STO:VIT B) Has Announced A Dividend Of SEK0.90

Feb 13
Vitec Software Group (STO:VIT B) Has Announced A Dividend Of SEK0.90
BRIX
SEK 21.40
Briox
7D
10.6%
1Y
289.1%

Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation

Feb 13
Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation
YUBICO
SEK 52.66
Yubico
7D
-15.0%
1Y
-75.1%
UPSALE
SEK 22.60
Upsales Technology
7D
-17.8%
1Y
-31.5%
TRUE B
SEK 14.31
Truecaller
7D
-3.3%
1Y
-78.9%

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 23.88
Sinch
7D
-3.9%
1Y
-17.6%

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 70.00
Micro Systemation
7D
2.3%
1Y
27.3%
SDS
SEK 9.80
Seamless Distribution Systems
7D
18.8%
1Y
53.1%

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%
DONE
SEK 9.98
Done.ai Group
7D
4.0%
1Y
-48.2%
RPLAN
SEK 1.12
Ranplan Group
7D
49.3%
1Y
n/a
ONEF
SEK 19.50
Oneflow
7D
-14.1%
1Y
-40.9%

We're Hopeful That Oneflow (STO:ONEF) Will Use Its Cash Wisely

Jan 08
We're Hopeful That Oneflow (STO:ONEF) Will Use Its Cash Wisely
VERT B
SEK 47.70
Vertiseit
7D
-17.2%
1Y
-25.5%

Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
NEO B
SEK 3.29
Neovici Holding
7D
93.0%
1Y
-56.1%
EYEW
SEK 23.00
Eye World
7D
14.4%
1Y
23.7%