Narrative Update • May 11
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- 7D4.7%
- 3M30.1%
- 1Y-28.7%
- YTD2.3%
Over the last 7 days, the Software industry has risen 1.5%, driven by gains from Vitec Software Group of 15%. In the same time, SmartCraft Group was down 5.9%. In contrast, the industry has lost 30% in the last 12 months. Earnings are forecast to grow by 34% 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, 21 May 2026 | SEK 73.6b | SEK 45.3b | -SEK 1,337,141,690.85 | 27.7x | -55x | 1.6x |
| Sat, 18 Apr 2026 | SEK 63.1b | SEK 46.0b | -SEK 1,506,636,388.38 | 27.6x | -41.9x | 1.4x |
| Mon, 16 Mar 2026 | SEK 55.8b | SEK 45.5b | -SEK 1,599,957,486.30 | 24x | -34.9x | 1.2x |
| Wed, 11 Feb 2026 | SEK 62.2b | SEK 48.1b | SEK 2.2b | 24.3x | 28x | 1.3x |
| Fri, 09 Jan 2026 | SEK 71.0b | SEK 48.1b | SEK 2.2b | 27.7x | 32.5x | 1.5x |
| Sun, 07 Dec 2025 | SEK 73.5b | SEK 48.1b | SEK 2.2b | 27.3x | 33.1x | 1.5x |
| Tue, 04 Nov 2025 | SEK 86.4b | SEK 50.0b | -SEK 3,687,655,881.07 | 31.1x | -23.4x | 1.7x |
| Thu, 02 Oct 2025 | SEK 90.3b | SEK 49.9b | -SEK 3,689,602,874.10 | 31.7x | -24.5x | 1.8x |
| Sat, 30 Aug 2025 | SEK 94.4b | SEK 49.9b | -SEK 3,629,598,679.62 | 37.2x | -26x | 1.9x |
| Mon, 28 Jul 2025 | SEK 156.9b | SEK 52.1b | -SEK 2,629,577,608.35 | 36.5x | -59.7x | 3x |
| Wed, 25 Jun 2025 | SEK 155.1b | SEK 52.4b | -SEK 2,693,688,763.34 | 32.4x | -57.6x | 3x |
| Fri, 23 May 2025 | SEK 152.3b | SEK 51.5b | -SEK 2,694,183,120.75 | 29.4x | -56.5x | 3x |
| Sun, 20 Apr 2025 | SEK 155.3b | SEK 51.7b | -SEK 2,765,181,774.99 | 31.7x | -56.2x | 3x |
| Tue, 18 Mar 2025 | SEK 150.6b | SEK 51.6b | -SEK 3,147,147,100.73 | 34.8x | -47.9x | 2.9x |
| Thu, 13 Feb 2025 | SEK 163.7b | SEK 49.7b | -SEK 9,272,398,018.98 | 38.7x | -17.7x | 3.3x |
| Sat, 11 Jan 2025 | SEK 140.6b | SEK 49.6b | -SEK 9,704,707,590.29 | 42.5x | -14.5x | 2.8x |
| Mon, 09 Dec 2024 | SEK 154.3b | SEK 49.3b | -SEK 9,733,512,761.22 | 41.4x | -15.8x | 3.1x |
| Wed, 06 Nov 2024 | SEK 155.2b | SEK 47.9b | -SEK 3,983,989,009.47 | 42.4x | -39x | 3.2x |
| Fri, 04 Oct 2024 | SEK 143.0b | SEK 47.7b | -SEK 4,184,488,388.02 | 38x | -34.2x | 3x |
| Sun, 01 Sep 2024 | SEK 144.8b | SEK 47.7b | -SEK 4,165,588,722.28 | 37.9x | -34.8x | 3x |
| Tue, 30 Jul 2024 | SEK 147.1b | SEK 47.6b | -SEK 4,480,874,394.66 | 55.3x | -32.8x | 3.1x |
| Thu, 27 Jun 2024 | SEK 138.6b | SEK 47.4b | -SEK 4,414,965,386.45 | 55.2x | -31.4x | 2.9x |
| Sat, 25 May 2024 | SEK 147.5b | SEK 49.9b | -SEK 4,490,918,687.00 | 59.2x | -32.9x | 3x |
| Mon, 22 Apr 2024 | SEK 138.8b | SEK 51.3b | -SEK 4,820,758,737.30 | 45.9x | -28.8x | 2.7x |
| Wed, 20 Mar 2024 | SEK 145.7b | SEK 51.1b | -SEK 4,690,851,714.15 | 48.9x | -31.1x | 2.9x |
| Fri, 16 Feb 2024 | SEK 160.0b | SEK 50.2b | -SEK 4,983,034,631.06 | 63.7x | -32.1x | 3.2x |
| Sun, 14 Jan 2024 | SEK 149.4b | SEK 50.4b | -SEK 4,740,745,652.00 | 67.7x | -31.5x | 3x |
| Tue, 12 Dec 2023 | SEK 142.4b | SEK 50.4b | -SEK 4,730,583,008.00 | 59.5x | -30.1x | 2.8x |
| Thu, 09 Nov 2023 | SEK 119.3b | SEK 51.1b | -SEK 4,923,140,724.00 | 45.7x | -24.2x | 2.3x |
| Sat, 07 Oct 2023 | SEK 115.1b | SEK 50.8b | -SEK 9,480,394,090.00 | 45.1x | -12.1x | 2.3x |
| Mon, 04 Sep 2023 | SEK 122.0b | SEK 50.9b | -SEK 9,552,476,581.00 | 46.3x | -12.8x | 2.4x |
| Wed, 02 Aug 2023 | SEK 135.3b | SEK 50.7b | -SEK 9,509,410,417.00 | 49.5x | -14.2x | 2.7x |
| Fri, 30 Jun 2023 | SEK 126.8b | SEK 50.5b | -SEK 9,606,705,431.00 | 38.8x | -13.2x | 2.5x |
| Sun, 28 May 2023 | SEK 131.1b | SEK 50.4b | -SEK 9,577,956,764.00 | 40.4x | -13.7x | 2.6x |
Price to Earnings Ratio
-13.7x
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 2.5x is higher than the industry's current PS ratio of 1.6x.
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 3.5% 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 Market | 2.00% | |
| Tech | 4.40% | |
| Software | 4.71% | |
| Systems Software | 6.06% | |
| Application Software | 4.52% | |
Industry PE
- Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 49.6x.
- Analysts are expecting annual earnings growth of 37.9%, which is higher than its past year's earnings decline of 41.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 38% over the next 5 years.
- This is better than its past earnings decline of 41% per year.
- In contrast, the Application Software industry is expected to see its earnings grow by 34% 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 | |
|---|---|---|---|---|---|
| VIT B Vitec Software Group | SEK 283.00 | 15.4% +SEK 1.6b | -39.3% | PE26.6x | |
| SINCH Sinch | SEK 38.77 | 4.9% +SEK 1.3b | 48.5% | PE77.2x | |
| YUBICO Yubico | SEK 60.75 | 10.7% +SEK 501.8m | -58.4% | PE53x | |
| LIME Lime Technologies | SEK 228.00 | 9.6% +SEK 266.5m | -43.8% | PE26.7x | |
| CLAV Clavister Holding AB (publ.) | SEK 4.78 | 12.9% +SEK 202.8m | -9.8% | PS8.2x |