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Swedish (OMX) Software Industry Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies66
  • 7D-1.6%
  • 3M-23.2%
  • 1Y-43.0%
  • YTD-10.1%

Over the last 7 days, the Software industry has dropped 1.6%, driven by Vitec Software Group declining 5.3%. In contrast, Done.ai Group has gained 31%. Overall the industry is down 43% in 12 months. Looking forward, earnings are forecast to grow by 45% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 30 Jan 2026SEK 64.2bSEK 48.0bSEK 2.2b25.5x29.3x1.3x
Sun, 28 Dec 2025SEK 72.0bSEK 48.1bSEK 2.2b27.9x32.4x1.5x
Tue, 25 Nov 2025SEK 72.6bSEK 48.9bSEK 2.3b26.5x31.8x1.5x
Thu, 23 Oct 2025SEK 92.4bSEK 49.9b-SEK 3,681,705,171.8631.6x-25.1x1.9x
Sat, 20 Sep 2025SEK 93.1bSEK 50.0b-SEK 3,714,505,370.4633x-25.1x1.9x
Mon, 18 Aug 2025SEK 95.2bSEK 49.9b-SEK 3,632,286,824.1134.7x-26.2x1.9x
Wed, 16 Jul 2025SEK 156.4bSEK 52.5b-SEK 2,683,057,523.4033.4x-58.3x3x
Fri, 13 Jun 2025SEK 156.3bSEK 52.4b-SEK 2,724,593,373.2930.7x-57.4x3x
Sun, 11 May 2025SEK 155.6bSEK 51.4b-SEK 2,668,238,664.6530.6x-58.3x3x
Tue, 08 Apr 2025SEK 146.4bSEK 51.7b-SEK 2,771,698,206.5133.1x-52.8x2.8x
Thu, 06 Mar 2025SEK 157.3bSEK 51.6b-SEK 3,160,400,518.9735.8x-49.8x3x
Sat, 01 Feb 2025SEK 161.0bSEK 49.6b-SEK 9,680,959,986.5341.7x-16.6x3.2x
Mon, 30 Dec 2024SEK 148.4bSEK 49.6b-SEK 9,704,120,582.0940.3x-15.3x3x
Wed, 27 Nov 2024SEK 143.8bSEK 48.5b-SEK 9,747,577,271.6241.4x-14.7x3x
Fri, 25 Oct 2024SEK 149.9bSEK 47.7b-SEK 3,905,284,502.4737.8x-38.4x3.1x
Sun, 22 Sep 2024SEK 146.5bSEK 47.7b-SEK 4,180,036,531.7238.9x-35.1x3.1x
Tue, 20 Aug 2024SEK 144.4bSEK 47.6b-SEK 4,238,697,974.5953.4x-34.1x3x
Thu, 18 Jul 2024SEK 143.9bSEK 47.8b-SEK 4,468,193,162.7056.9x-32.2x3x
Sat, 15 Jun 2024SEK 138.3bSEK 47.6b-SEK 4,425,700,800.0556.8x-31.3x2.9x
Mon, 13 May 2024SEK 145.0bSEK 50.3b-SEK 4,610,968,882.2653.2x-31.5x2.9x
Wed, 10 Apr 2024SEK 145.6bSEK 51.2b-SEK 4,748,693,486.4950x-30.7x2.8x
Fri, 08 Mar 2024SEK 160.4bSEK 52.1b-SEK 4,944,039,377.3957.5x-32.4x3.1x
Sun, 04 Feb 2024SEK 147.0bSEK 50.6b-SEK 4,751,090,498.0058x-30.9x2.9x
Tue, 02 Jan 2024SEK 154.4bSEK 50.3b-SEK 4,687,325,291.0067.2x-32.9x3.1x
Thu, 30 Nov 2023SEK 133.4bSEK 51.1b-SEK 4,802,576,103.0057.3x-27.8x2.6x
Sat, 28 Oct 2023SEK 105.0bSEK 51.1b-SEK 9,726,912,726.0044x-10.8x2.1x
Mon, 25 Sep 2023SEK 120.4bSEK 51.0b-SEK 9,577,202,634.0046.6x-12.6x2.4x
Wed, 23 Aug 2023SEK 124.2bSEK 50.9b-SEK 9,640,800,122.0046x-12.9x2.4x
Fri, 21 Jul 2023SEK 132.3bSEK 50.3b-SEK 9,450,105,788.0041.5x-14x2.6x
Sun, 18 Jun 2023SEK 131.1bSEK 50.4b-SEK 9,597,095,300.0039.1x-13.7x2.6x
Tue, 16 May 2023SEK 137.3bSEK 50.2b-SEK 9,410,826,301.0038.4x-14.6x2.7x
Thu, 13 Apr 2023SEK 131.3bSEK 49.8b-SEK 9,250,140,659.0040.9x-14.2x2.6x
Sat, 11 Mar 2023SEK 136.4bSEK 49.4b-SEK 9,235,109,070.0042.1x-14.8x2.8x
Mon, 06 Feb 2023SEK 150.9bSEK 46.6b-SEK 4,820,041,452.0040.8x-31.3x3.2x
Price to Earnings Ratio

-31.3x


Total Market Cap: SEK 150.9bTotal Earnings: -SEK 4,820,041,452.00Total Revenue: SEK 46.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -23.7x202420252026
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 29.3x which is higher than its 3-year average PE of -23.7x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 1.3x.
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-0.32%
Tech2.89%
Software-1.55%
Application Software-1.22%
Systems Software-3.48%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 41.9x.
    • Analysts expect its future annual earnings growth (28.8%) to be largely in line with prior year's earnings growth.
  • 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 2.3% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 29% 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
DONE Done.ai GroupSEK 12.5431.0%
+SEK 247.3m		-37.3%PE0.6x
MSAB B Micro SystemationSEK 67.8011.9%
+SEK 133.0m		22.8%PE25.5x
FREJA Freja eID GroupSEK 16.408.3%
+SEK 35.7m		43.9%PS7.9x
ONEF OneflowSEK 23.305.0%
+SEK 31.2m		-42.3%PS3.3x
TRUE B TruecallerSEK 15.190.6%
+SEK 30.2m		-77.0%PE10.6x

Latest News

VIT B
SEK 255.00
Vitec Software Group
7D
-5.3%
1Y
-55.8%

Vitec Software Group AB (publ)'s (STO:VIT B) Intrinsic Value Is Potentially 51% Above Its Share Price

Jan 30
Vitec Software Group AB (publ)'s (STO:VIT B) Intrinsic Value Is Potentially 51% Above Its Share Price
MSAB B
SEK 67.80
Micro Systemation
7D
11.9%
1Y
22.8%
FREJA
SEK 16.40
Freja eID Group
7D
8.3%
1Y
43.9%

Is It Time To Consider Buying Freja eID Group AB (publ) (STO:FREJA)?

Jan 28
Is It Time To Consider Buying Freja eID Group AB (publ) (STO:FREJA)?
YUBICO
SEK 66.10
Yubico
7D
-7.3%
1Y
-74.2%
SINCH
SEK 26.69
Sinch
7D
-0.5%
1Y
13.0%
TRUE B
SEK 15.19
Truecaller
7D
0.6%
1Y
-77.0%

TRUE B: Marketplace Model Concerns Will Create Longer Term Entry Opportunity

Analysts now see Truecaller’s fair value at $21.00, down from $60.00. This reflects more cautious assumptions on revenue growth, profit margins and future P/E multiples in light of recent sector commentary that highlights slower rollout timelines and more listing-style business models at peers.
TENEO
SEK 0.26
Teneo AI
7D
-47.1%
1Y
-56.2%

Teneo AI AB (publ) (STO:TENEO) Might Not Be As Mispriced As It Looks After Plunging 37%

Jan 24
Teneo AI AB (publ) (STO:TENEO) Might Not Be As Mispriced As It Looks After Plunging 37%
DONE
SEK 12.54
Done.ai Group
7D
31.0%
1Y
-37.3%
ONEF
SEK 23.30
Oneflow
7D
5.0%
1Y
-42.3%

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 59.00
Vertiseit
7D
-7.2%
1Y
7.7%

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

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
ADVE
SEK 20.05
Advenica
7D
-5.0%
1Y
107.6%

After Leaping 29% Advenica AB (publ) (STO:ADVE) Shares Are Not Flying Under The Radar

Dec 21
After Leaping 29% Advenica AB (publ) (STO:ADVE) Shares Are Not Flying Under The Radar
LIME
SEK 258.00
Lime Technologies
7D
-3.2%
1Y
-24.3%
TERRNT B
SEK 0.077
Terranet
7D
15.9%
1Y
-34.3%
BIM
SEK 4.80
BIMobject
7D
4.1%
1Y
-12.1%
BRIX
SEK 19.90
Briox
7D
-4.3%
1Y
258.6%

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

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?
NORDIG
SEK 0.64
Nord Insuretech Group
7D
10.3%
1Y
113.3%

Here's Why Nord Insuretech Group (NGM:NORDIG) Can Afford Some Debt

Jun 25
Here's Why Nord Insuretech Group (NGM:NORDIG) Can Afford Some Debt