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Swedish (OMX) Application Software Industry Analysis

UpdatedApr 24, 2026
DataAggregated Company Financials
Companies58
  • 7D1.8%
  • 3M-3.9%
  • 1Y-34.0%
  • YTDn/a

The Application Software industry is up 1.8% in the last week, with Vitec Software Group up 3.7%. In the same time, Cint Group was down 5.2%. In the past year, the industry is down 34%. Looking forward, 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
Fri, 24 Apr 2026SEK 55.4bSEK 42.8b-SEK 1,654,762,182.9126.5x-33.5x1.3x
Sun, 22 Mar 2026SEK 44.8bSEK 42.2b-SEK 1,748,778,321.9021x-25.6x1.1x
Tue, 17 Feb 2026SEK 49.1bSEK 44.8bSEK 1.8b20.3x26.7x1.1x
Thu, 15 Jan 2026SEK 58.4bSEK 44.8bSEK 1.9b26.6x30.5x1.3x
Sat, 13 Dec 2025SEK 90.0bSEK 44.9bSEK 2.0b25.5x45.9x2x
Mon, 10 Nov 2025SEK 62.8bSEK 45.7bSEK 2.0b24.7x31.3x1.4x
Wed, 08 Oct 2025SEK 77.3bSEK 46.6b-SEK 3,968,504,615.2130.4x-19.5x1.7x
Fri, 05 Sep 2025SEK 75.5bSEK 46.7b-SEK 3,914,905,850.1931.6x-19.3x1.6x
Sun, 03 Aug 2025SEK 83.5bSEK 46.7b-SEK 3,821,115,812.2230.7x-21.9x1.8x
Tue, 01 Jul 2025SEK 145.0bSEK 49.1b-SEK 3,066,431,657.3330.7x-47.3x3x
Thu, 29 May 2025SEK 137.0bSEK 49.0b-SEK 3,110,770,618.1826.3x-44x2.8x
Sat, 26 Apr 2025SEK 137.7bSEK 48.8b-SEK 3,044,367,957.5321.4x-45.2x2.8x
Mon, 24 Mar 2025SEK 132.1bSEK 48.5b-SEK 3,547,947,480.6629.8x-37.2x2.7x
Wed, 19 Feb 2025SEK 144.0bSEK 47.0b-SEK 10,031,013,324.2832.2x-14.4x3.1x
Fri, 17 Jan 2025SEK 123.3bSEK 46.5b-SEK 10,039,828,227.6940.8x-12.3x2.7x
Sun, 15 Dec 2024SEK 124.8bSEK 46.2b-SEK 10,064,246,041.4841.6x-12.4x2.7x
Tue, 12 Nov 2024SEK 118.2bSEK 45.8b-SEK 10,134,972,026.5836.5x-11.7x2.6x
Thu, 10 Oct 2024SEK 117.6bSEK 44.8b-SEK 4,318,028,120.6435.6x-27.2x2.6x
Sat, 07 Sep 2024SEK 113.5bSEK 44.8b-SEK 4,334,157,191.6237x-26.2x2.5x
Mon, 05 Aug 2024SEK 114.7bSEK 44.7b-SEK 4,466,441,783.5937.2x-25.7x2.6x
Wed, 03 Jul 2024SEK 117.2bSEK 44.7b-SEK 4,545,401,003.7351x-25.8x2.6x
Fri, 31 May 2024SEK 116.3bSEK 44.4b-SEK 4,660,167,499.1748.8x-25x2.6x
Sun, 28 Apr 2024SEK 125.4bSEK 48.1b-SEK 4,775,904,062.5149.3x-26.3x2.6x
Tue, 26 Mar 2024SEK 132.8bSEK 48.4b-SEK 4,837,797,503.7556.7x-27.4x2.7x
Thu, 22 Feb 2024SEK 136.6bSEK 50.1b-SEK 4,376,288,353.1951.5x-31.2x2.7x
Sat, 20 Jan 2024SEK 130.2bSEK 49.6b-SEK 4,739,323,710.0059.8x-27.5x2.6x
Mon, 18 Dec 2023SEK 139.0bSEK 49.5b-SEK 4,657,583,968.0054.6x-29.8x2.8x
Wed, 15 Nov 2023SEK 116.4bSEK 50.4b-SEK 4,803,408,381.0058.7x-24.2x2.3x
Fri, 13 Oct 2023SEK 112.9bSEK 50.0b-SEK 9,413,710,830.0043x-12x2.3x
Sun, 10 Sep 2023SEK 117.6bSEK 50.1b-SEK 9,488,862,356.0041.1x-12.4x2.3x
Tue, 08 Aug 2023SEK 128.8bSEK 49.9b-SEK 9,443,100,644.0041.2x-13.6x2.6x
Thu, 06 Jul 2023SEK 123.7bSEK 49.8b-SEK 9,573,930,478.0039.1x-12.9x2.5x
Sat, 03 Jun 2023SEK 130.4bSEK 49.6b-SEK 9,456,982,953.0039.1x-13.8x2.6x
Mon, 01 May 2023SEK 133.9bSEK 49.3b-SEK 9,287,330,907.0041.2x-14.4x2.7x
Price to Earnings Ratio

-14.4x


Total Market Cap: SEK 133.9bTotal Earnings: -SEK 9,287,330,907.00Total Revenue: SEK 49.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Application Software Industry Price to Earnings3Y Average -18x202420252026
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 2.3x is higher than the industry's current PS ratio of 1.3x.
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 4.6% 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 Market-0.30%
Tech0.96%
Software2.16%
Application Software1.75%
Systems Software5.08%
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
SINCH SinchSEK 27.871.3%
+SEK 271.1m		25.5%PE94.1x
SMCRT SmartCraft GroupSEK 16.369.9%
+SEK 237.1m		n/aPE31.7x
TERRNT B TerranetSEK 0.0827.4%
+SEK 38.5m		-27.3%PS24.2x
UPSALE Upsales TechnologySEK 28.005.7%
+SEK 25.3m		-14.4%PE21.1x
XMR XMRealitySEK 0.0468.6%
+SEK 19.8m		161.8%PS2.5x

Latest News

VIT B
SEK 269.60
Vitec Software Group
7D
-1.8%
1Y
-41.4%
LIME
SEK 230.50
Lime Technologies
7D
-0.9%
1Y
-39.0%

Earnings Release: Here's Why Analysts Cut Their Lime Technologies AB (publ) (STO:LIME) Price Target To kr313

Apr 24
Earnings Release: Here's Why Analysts Cut Their Lime Technologies AB (publ) (STO:LIME) Price Target To kr313
TERRNT B
SEK 0.08
Terranet
7D
27.4%
1Y
-27.3%

Is Terranet (STO:TERRNT B) In A Good Position To Deliver On Growth Plans?

Apr 23
Is Terranet (STO:TERRNT B) In A Good Position To Deliver On Growth Plans?
UPSALE
SEK 28.00
Upsales Technology
7D
5.7%
1Y
-14.4%
TRUE B
SEK 11.61
Truecaller
7D
-3.1%
1Y
-83.9%

TRUE B: Multi Partner Messaging Shift And New Buy Rating Will Support Repricing

Analysts keep the fair value estimate steady at SEK 68.0, balancing Deutsche Bank's new SEK 15 Buy rating with Nordea's downgrade to Hold, and reflecting slightly updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts highlight the SEK 15 price target as support for upside potential relative to the current fair value estimate of SEK 68.0, maintaining a constructive view on the balance of risk and reward.
SLEEP
SEK 18.48
Sleep Cycle
7D
3.9%
1Y
-44.8%

SLEEP: Respiratory Research And Apnea Launch Will Support 2027 Margin Recovery

Analysts keep their SEK35.0 price target for Sleep Cycle unchanged, citing offsetting shifts in key model inputs such as slightly lower revenue growth assumptions, a reduced profit margin outlook, a marginally lower discount rate and a higher future P/E multiple. What's in the News Sleep Cycle renewed its partnership with Revolut through June 2027, keeping its premium features bundled into Revolut’s Premium, Metal and Ultra tiers and extending reach to Revolut’s global user base (Client Announcements).
OPTER
SEK 86.00
Opter
7D
3.4%
1Y
-20.7%
SMCRT
SEK 16.36
SmartCraft Group
7D
9.9%
1Y
n/a

Slow AI Adoption And Gradual ARR Shift Will Shape Future Prospects

Catalysts About SmartCraft Group SmartCraft Group provides software tools that help smaller construction and property management businesses plan work, run projects and manage daily workflows more efficiently. What are the underlying business or industry changes driving this perspective?
SINCH
SEK 27.87
Sinch
7D
1.3%
1Y
25.5%
DONE
SEK 8.86
Done.ai Group
7D
-3.5%
1Y
-14.3%
GREAT
SEK 11.55
Greater Than
7D
7.4%
1Y
-60.2%
CINT
SEK 4.21
Cint Group
7D
-6.2%
1Y
-41.8%
SKOLON
SEK 20.00
Skolon
7D
-6.5%
1Y
-33.3%
FPIP
SEK 23.10
Formpipe Software
7D
-1.7%
1Y
-10.1%
XMR
SEK 0.04
XMReality
7D
68.6%
1Y
161.8%
NORDIG
SEK 0.60
Nord Insuretech Group
7D
-13.0%
1Y
100.0%

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