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Swedish (OMX) Application Software Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies58
  • 7D-0.3%
  • 3M-15.1%
  • 1Y-42.0%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 2.2%, driven by Sinch declining 2.8%. Meanwhile, Cint Group actually outperformed within the industry, gaining 9.3% in the last week. The industry has fallen 41% in the last year. Earnings are forecast to grow by 33% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026SEK 50.8bSEK 42.8b-SEK 1,660,197,730.7623.3x-30.6x1.2x
Fri, 13 Mar 2026SEK 47.2bSEK 42.2b-SEK 1,741,768,290.2421.8x-27.1x1.1x
Sun, 08 Feb 2026SEK 51.5bSEK 44.8bSEK 2.0b22.9x26.4x1.1x
Tue, 06 Jan 2026SEK 60.8bSEK 44.8bSEK 2.0b26.8x31x1.4x
Thu, 04 Dec 2025SEK 62.0bSEK 44.9bSEK 2.0b27.5x31.7x1.4x
Sat, 01 Nov 2025SEK 74.6bSEK 46.7b-SEK 3,993,549,665.7530.3x-18.7x1.6x
Mon, 29 Sep 2025SEK 75.5bSEK 46.7b-SEK 3,968,393,602.0931.2x-19x1.6x
Wed, 27 Aug 2025SEK 80.5bSEK 46.7b-SEK 3,865,319,994.1331.8x-20.8x1.7x
Fri, 25 Jul 2025SEK 141.9bSEK 48.8b-SEK 3,013,839,632.3136.3x-47.1x2.9x
Sun, 22 Jun 2025SEK 138.4bSEK 49.2b-SEK 3,087,731,121.6828.5x-44.8x2.8x
Tue, 20 May 2025SEK 139.2bSEK 48.2b-SEK 3,086,006,264.4022.1x-45.1x2.9x
Thu, 17 Apr 2025SEK 138.0bSEK 48.6b-SEK 3,168,969,119.5221.1x-43.6x2.8x
Sat, 15 Mar 2025SEK 129.3bSEK 48.5b-SEK 3,552,894,146.7830.5x-36.4x2.7x
Mon, 10 Feb 2025SEK 139.6bSEK 46.6b-SEK 9,938,025,422.5839.6x-14x3x
Wed, 08 Jan 2025SEK 123.4bSEK 46.5b-SEK 10,047,883,842.7341.4x-12.3x2.7x
Fri, 06 Dec 2024SEK 125.7bSEK 46.2b-SEK 10,056,826,550.9737.3x-12.5x2.7x
Sun, 03 Nov 2024SEK 124.3bSEK 44.9b-SEK 4,108,889,067.6436.5x-30.2x2.8x
Tue, 01 Oct 2024SEK 120.1bSEK 44.8b-SEK 4,287,377,489.4636.6x-28x2.7x
Thu, 29 Aug 2024SEK 116.3bSEK 44.8b-SEK 4,340,693,797.4633.4x-26.8x2.6x
Sat, 27 Jul 2024SEK 120.5bSEK 44.8b-SEK 4,602,303,260.3038x-26.2x2.7x
Mon, 24 Jun 2024SEK 113.3bSEK 44.7b-SEK 4,487,345,820.8050.6x-25.2x2.5x
Wed, 22 May 2024SEK 129.8bSEK 47.6b-SEK 4,625,563,940.9350.4x-28.1x2.7x
Fri, 19 Apr 2024SEK 122.7bSEK 48.6b-SEK 4,924,507,881.0550.2x-24.9x2.5x
Sun, 17 Mar 2024SEK 129.8bSEK 48.4b-SEK 4,754,668,473.8255.1x-27.3x2.7x
Tue, 13 Feb 2024SEK 133.9bSEK 49.3b-SEK 4,889,317,615.7059.7x-27.4x2.7x
Thu, 11 Jan 2024SEK 134.1bSEK 49.5b-SEK 4,665,464,715.0060.6x-28.8x2.7x
Sat, 09 Dec 2023SEK 129.0bSEK 49.5b-SEK 4,666,503,167.0056.5x-27.6x2.6x
Mon, 06 Nov 2023SEK 102.6bSEK 50.2b-SEK 9,694,115,692.0044.3x-10.6x2x
Wed, 04 Oct 2023SEK 114.7bSEK 50.0b-SEK 9,420,910,072.0043.9x-12.2x2.3x
Fri, 01 Sep 2023SEK 120.9bSEK 50.2b-SEK 9,477,871,330.0042.9x-12.8x2.4x
Sun, 30 Jul 2023SEK 134.3bSEK 49.9b-SEK 9,435,639,307.0042.8x-14.2x2.7x
Tue, 27 Jun 2023SEK 122.7bSEK 49.7b-SEK 9,508,696,601.0041.8x-12.9x2.5x
Thu, 25 May 2023SEK 129.6bSEK 49.6b-SEK 9,442,271,510.0039.6x-13.7x2.6x
Sat, 22 Apr 2023SEK 126.5bSEK 48.9b-SEK 9,129,936,870.0040.9x-13.9x2.6x
Price to Earnings Ratio

-13.9x


Total Market Cap: SEK 126.5bTotal Earnings: -SEK 9,129,936,870.00Total Revenue: SEK 48.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Application Software Industry Price to Earnings3Y Average -17.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 2.4x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 4.3% 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 Comparison

How does Swedish Application Software compare with similar industries?

SE Market5.71%
Tech4.50%
Software1.12%
Application Software-0.29%
Systems Software12.06%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CINT Cint GroupSEK 4.2415.5%
+SEK 202.3m		-35.6%PS0.9x
LIME Lime TechnologiesSEK 210.005.1%
+SEK 135.9m		-45.9%PE25.1x
VIT B Vitec Software GroupSEK 239.601.3%
+SEK 127.1m		-56.0%PE23.3x
UPSALE Upsales TechnologySEK 24.5020.7%
+SEK 70.7m		-26.6%PE18.4x
VERT B VertiseitSEK 56.803.6%
+SEK 60.7m		-9.0%PE285.4x

Latest News

UPSALE
SEK 24.50
Upsales Technology
7D
20.7%
1Y
-26.6%
LIME
SEK 210.00
Lime Technologies
7D
5.1%
1Y
-45.9%

LIME: AI And Buyback Authorization Will Support Long-Term Upside Potential

Analysts keep their price target for Lime Technologies steady around SEK332.75, pointing to only small tweaks in assumptions, such as a slightly lower discount rate, a modestly higher revenue growth outlook, a marginally softer profit margin, and a nearly unchanged forward P/E. What's in the News Lime Technologies AB (publ) has a proposed dividend split into two parts, with a suggested record date of 4 May 2026 for the first part and 3 November 2026 for the second part, subject to approval at the annual general meeting (Key Developments).
ONEF
SEK 17.60
Oneflow
7D
-5.4%
1Y
-37.1%
SINCH
SEK 24.85
Sinch
7D
-2.0%
1Y
18.7%

SINCH: Future Upside Will Depend On Executing AI Agent Rollout

Sinch's updated analyst price target increases slightly to SEK 32.64 from SEK 32.21, as analysts balance mixed rating changes and price targets with adjusted assumptions for the discount rate, revenue growth, profit margins, and future P/E. Analyst Commentary Recent research shows a split in how analysts view Sinch, with some highlighting upside potential and others focusing on execution risks and rating downgrades.
SMCRT
SEK 15.30
SmartCraft Group
7D
-8.6%
1Y
n/a
TRUE B
SEK 10.69
Truecaller
7D
-3.0%
1Y
-84.5%

TRUE B: Multi Partner Messaging Shift Will Support Future Repricing

Analysts have revised their collective price target on Truecaller to SEK 15, with the shift reflecting updated views on revenue growth, profit margins and future P/E multiples following both an upgrade to Buy and a downgrade to Hold in recent research. Analyst Commentary Recent research has produced a mixed but constructive view on Truecaller, with one upgrade to Buy and one downgrade to Hold anchoring the new SEK 15 price target.
CINT
SEK 4.24
Cint Group
7D
15.5%
1Y
-35.6%
VIT B
SEK 239.60
Vitec Software Group
7D
1.3%
1Y
-56.0%

VIT B: Dividend Reliability And Buybacks Will Support Long Term Thesis

Analysts have nudged their price target for Vitec Software Group slightly higher from SEK 570.41 to SEK 574.11, reflecting updated assumptions for revenue growth, profit margins, and future P/E following recent research such as the upgrade from SEB Equities. Analyst Commentary Recent research points to a generally constructive view on Vitec Software Group, with the higher price target of SEK 574.11 indicating that bullish analysts see support for the current valuation based on updated revenue and margin assumptions.
FPIP
SEK 23.50
Formpipe Software
7D
1.3%
1Y
-10.0%
VERT B
SEK 56.80
Vertiseit
7D
3.6%
1Y
-9.0%
4C
SEK 8.96
4C Group
7D
5.4%
1Y
-42.4%
NEO B
SEK 4.09
Neovici Holding
7D
-13.0%
1Y
-32.1%
SDS
SEK 7.40
Seamless Distribution Systems
7D
12.1%
1Y
8.8%
BRIX
SEK 19.00
Briox
7D
-1.6%
1Y
240.5%

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
MODEL
SEK 8.55
Modelon
7D
-11.9%
1Y
-23.7%
NORDIG
SEK 0.60
Nord Insuretech Group
7D
-13.0%
1Y
104.1%

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