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Swedish (OMX) Software Industry Analysis

UpdatedJan 21, 2026
DataAggregated Company Financials
Companies66
  • 7D-6.7%
  • 3M-27.4%
  • 1Y-40.3%
  • YTD-9.3%

Over the last 7 days, the Software industry has dropped 5.6%, driven by Sinch declining 7.1%. Meanwhile, Clavister Holding AB (publ.) actually outperformed within the industry, gaining 26% in the last week. The industry has fallen 38% in the last year. 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
Wed, 21 Jan 2026SEK 64.7bSEK 48.0bSEK 2.2b25.8x29.7x1.3x
Fri, 19 Dec 2025SEK 72.4bSEK 48.1bSEK 2.2b26.6x32.5x1.5x
Sun, 16 Nov 2025SEK 75.1bSEK 49.0bSEK 2.3b27.1x32.9x1.5x
Tue, 14 Oct 2025SEK 90.7bSEK 49.9b-SEK 3,689,599,127.8331.9x-24.6x1.8x
Thu, 11 Sep 2025SEK 93.1bSEK 49.9b-SEK 3,714,614,797.5435x-25.1x1.9x
Sat, 09 Aug 2025SEK 97.7bSEK 50.0b-SEK 3,434,579,526.3535.2x-28.4x2x
Mon, 07 Jul 2025SEK 162.3bSEK 52.5b-SEK 2,674,080,075.1733.6x-60.7x3.1x
Wed, 04 Jun 2025SEK 157.9bSEK 52.4b-SEK 2,701,179,618.0030.9x-58.5x3x
Fri, 02 May 2025SEK 157.8bSEK 52.1b-SEK 2,667,387,804.2031.6x-59.2x3x
Sun, 30 Mar 2025SEK 145.3bSEK 51.5b-SEK 3,144,293,891.4835x-46.2x2.8x
Tue, 25 Feb 2025SEK 162.0bSEK 49.9b-SEK 4,871,858,224.9742.2x-33.2x3.2x
Thu, 23 Jan 2025SEK 151.1bSEK 49.6b-SEK 9,690,835,185.9743.2x-15.6x3x
Sat, 21 Dec 2024SEK 145.8bSEK 49.3b-SEK 9,682,184,653.7040.4x-15.1x3x
Mon, 18 Nov 2024SEK 140.5bSEK 48.5b-SEK 9,785,313,618.2840x-14.4x2.9x
Wed, 16 Oct 2024SEK 142.9bSEK 47.7b-SEK 4,173,278,697.8137.6x-34.2x3x
Fri, 13 Sep 2024SEK 138.8bSEK 47.7b-SEK 4,186,089,830.6739.1x-33.2x2.9x
Sun, 11 Aug 2024SEK 140.5bSEK 47.4b-SEK 4,307,694,273.4053.7x-32.6x3x
Tue, 09 Jul 2024SEK 140.5bSEK 47.5b-SEK 4,487,485,573.6655.8x-31.3x3x
Thu, 06 Jun 2024SEK 139.9bSEK 47.6b-SEK 4,426,611,266.2856.4x-31.6x2.9x
Sat, 04 May 2024SEK 143.5bSEK 50.4b-SEK 4,639,295,220.3052.2x-30.9x2.8x
Mon, 01 Apr 2024SEK 147.5bSEK 51.2b-SEK 4,777,848,190.5048.7x-30.9x2.9x
Wed, 28 Feb 2024SEK 160.4bSEK 52.0b-SEK 5,127,603,656.3957.1x-31.3x3.1x
Fri, 26 Jan 2024SEK 151.4bSEK 50.4b-SEK 4,762,863,878.0067.7x-31.8x3x
Sun, 24 Dec 2023SEK 149.5bSEK 50.3b-SEK 4,645,700,895.0065.9x-32.2x3x
Tue, 21 Nov 2023SEK 128.5bSEK 51.1b-SEK 4,842,208,555.0054x-26.5x2.5x
Thu, 19 Oct 2023SEK 115.6bSEK 50.8b-SEK 9,490,304,024.0043.5x-12.2x2.3x
Sat, 16 Sep 2023SEK 120.6bSEK 51.0b-SEK 9,553,270,116.0044.2x-12.6x2.4x
Mon, 14 Aug 2023SEK 129.4bSEK 50.9b-SEK 9,626,269,315.0045.9x-13.4x2.5x
Wed, 12 Jul 2023SEK 126.5bSEK 50.4b-SEK 9,530,199,692.0041.2x-13.3x2.5x
Fri, 09 Jun 2023SEK 128.6bSEK 50.5b-SEK 9,589,808,263.0042.1x-13.4x2.5x
Sun, 07 May 2023SEK 135.3bSEK 50.1b-SEK 9,336,617,819.0039.3x-14.5x2.7x
Tue, 04 Apr 2023SEK 133.1bSEK 49.7b-SEK 9,231,025,053.0041.5x-14.4x2.7x
Thu, 02 Mar 2023SEK 140.2bSEK 49.4b-SEK 8,989,668,313.0037.9x-15.6x2.8x
Sat, 28 Jan 2023SEK 148.5bSEK 46.3b-SEK 4,791,841,060.0041.3x-31x3.2x
Price to Earnings Ratio

-31x


Total Market Cap: SEK 148.5bTotal Earnings: -SEK 4,791,841,060.00Total Revenue: SEK 46.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -24.2x202420252026
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 29.9x which is higher than its 3-year average PE of -24.2x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 1.4x.
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-1.01%
Tech-3.89%
Software-6.73%
Systems Software-6.03%
Application Software-6.85%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 41.5x.
    • Analysts are expecting annual earnings growth of 32.3%, which is lower than the prior year's growth of 204.3% 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 2.3% per year.
  • In contrast, the Systems 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
CLAV Clavister Holding AB (publ.)SEK 4.2126.3%
+SEK 531.1m		101.2%PS7.2x
ADVE AdvenicaSEK 19.482.6%
+SEK 22.0m		104.6%PE36.6x
CFISH CrunchfishSEK 2.8010.9%
+SEK 20.3m		180.1%PS24.6x
DONE Done.ai GroupSEK 7.222.1%
+SEK 12.5m		-63.4%PE0.3x
LITI LitiumSEK 15.003.1%
+SEK 8.7m		51.5%PS3.3x

Latest News

CINT
SEK 2.66
Cint Group
7D
-12.8%
1Y
-75.9%

Is It Too Late To Consider Buying Cint Group AB (publ) (STO:CINT)?

Jan 21
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VIT B
SEK 274.00
Vitec Software Group
7D
-6.2%
1Y
-49.9%
CLAV
SEK 4.21
Clavister Holding AB (publ.)
7D
26.3%
1Y
101.2%
SINCH
SEK 26.27
Sinch
7D
-7.1%
1Y
22.4%

Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?

Jan 17
Does Sinch (STO:SINCH) Have A Healthy Balance Sheet?
TRUE B
SEK 15.35
Truecaller
7D
-12.8%
1Y
-75.4%

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Analysts have trimmed their price target on Truecaller to $68 from $95, citing updated assumptions for revenue growth, profit margins and future P/E that they see as better aligned with the company’s current risk profile and earnings outlook. Analyst Commentary Recent Street research around online auto marketplaces has centered on corporate actions and competitive shifts, with TrueCar in focus due to its pending acquisition and the broader conversation around third party listing platforms that connect buyers and sellers.
DONE
SEK 7.22
Done.ai Group
7D
2.1%
1Y
-63.4%
YUBICO
SEK 68.90
Yubico
7D
-9.3%
1Y
-71.8%

YUBICO: Wider Retail Distribution Will Support Future Upside Despite Hold Downgrade

Analysts have trimmed their price expectations for Yubico, cutting the fair value estimate from €124.67 to €108.00. They cite a shift toward more conservative assumptions on revenue growth, profit margins and future P/E multiples, alongside a recent downgrade to Hold in Street research.
CFISH
SEK 2.80
Crunchfish
7D
10.9%
1Y
180.1%

Is Crunchfish (STO:CFISH) In A Good Position To Invest In Growth?

Jan 04
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ADVE
SEK 19.48
Advenica
7D
2.6%
1Y
104.6%

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Dec 21
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FPIP
SEK 23.50
Formpipe Software
7D
-7.8%
1Y
-3.3%
LIME
SEK 275.00
Lime Technologies
7D
-5.8%
1Y
-18.0%
LITI
SEK 15.00
Litium
7D
3.1%
1Y
51.5%
PREC
SEK 2.27
Precise Biometrics
7D
3.7%
1Y
-45.4%
TERRNT B
SEK 0.068
Terranet
7D
4.0%
1Y
-49.7%
EFFH
SEK 4.56
Effnetplattformen Holding
7D
9.6%
1Y
33.3%
BRIX
SEK 20.30
Briox
7D
-6.5%
1Y
256.1%

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Sep 10
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