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Swedish (OMX) Application Software Industry Analysis

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies58
  • 7D10.3%
  • 3M-0.3%
  • 1Y-33.1%
  • YTDn/a

The Application Software industry is up 10% in the last week, with Sinch up 17%. However, the industry is down 35% over the past year. 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
Thu, 23 Apr 2026SEK 56.5bSEK 42.8b-SEK 1,649,749,152.2926.6x-34.2x1.3x
Sat, 21 Mar 2026SEK 44.9bSEK 42.2b-SEK 1,748,778,321.9021x-25.7x1.1x
Mon, 16 Feb 2026SEK 49.8bSEK 44.8bSEK 1.8b20.1x27.1x1.1x
Wed, 14 Jan 2026SEK 59.1bSEK 44.8bSEK 1.9b27.2x30.8x1.3x
Fri, 12 Dec 2025SEK 64.4bSEK 44.9bSEK 2.0b25.4x32.9x1.4x
Sun, 09 Nov 2025SEK 62.8bSEK 45.7bSEK 2.0b24.7x31.3x1.4x
Tue, 07 Oct 2025SEK 76.6bSEK 46.7b-SEK 3,968,435,196.3930.5x-19.3x1.6x
Thu, 04 Sep 2025SEK 75.4bSEK 46.7b-SEK 3,914,994,503.3731.8x-19.3x1.6x
Sat, 02 Aug 2025SEK 83.5bSEK 46.7b-SEK 3,804,454,812.2230.7x-21.9x1.8x
Mon, 30 Jun 2025SEK 142.8bSEK 49.2b-SEK 3,087,387,657.0928.9x-46.3x2.9x
Wed, 28 May 2025SEK 137.7bSEK 49.1b-SEK 3,108,401,856.4222x-44.3x2.8x
Fri, 25 Apr 2025SEK 136.2bSEK 48.7b-SEK 3,170,093,004.4620.5x-43x2.8x
Sun, 23 Mar 2025SEK 132.1bSEK 48.5b-SEK 3,547,947,480.6629.8x-37.2x2.7x
Tue, 18 Feb 2025SEK 140.3bSEK 47.0b-SEK 10,037,275,692.0533.3x-14x3x
Thu, 16 Jan 2025SEK 120.8bSEK 46.5b-SEK 10,037,762,790.8540.4x-12x2.6x
Sat, 14 Dec 2024SEK 124.7bSEK 46.2b-SEK 10,068,752,120.7941.6x-12.4x2.7x
Mon, 11 Nov 2024SEK 116.3bSEK 45.8b-SEK 10,153,388,976.0036.2x-11.5x2.5x
Wed, 09 Oct 2024SEK 116.5bSEK 44.8b-SEK 4,306,486,820.4635.8x-27x2.6x
Fri, 06 Sep 2024SEK 114.0bSEK 44.8b-SEK 4,319,381,865.7335.4x-26.4x2.5x
Sun, 04 Aug 2024SEK 114.7bSEK 44.7b-SEK 4,466,441,783.5937.2x-25.7x2.6x
Tue, 02 Jul 2024SEK 117.2bSEK 44.7b-SEK 4,557,595,378.6651.1x-25.7x2.6x
Thu, 30 May 2024SEK 115.9bSEK 44.4b-SEK 4,684,468,655.8947.6x-24.7x2.6x
Sat, 27 Apr 2024SEK 125.4bSEK 48.1b-SEK 4,775,904,062.5149.3x-26.3x2.6x
Mon, 25 Mar 2024SEK 131.5bSEK 48.4b-SEK 4,819,043,223.8257.8x-27.3x2.7x
Wed, 21 Feb 2024SEK 136.5bSEK 50.1b-SEK 4,402,913,235.0651.8x-31x2.7x
Fri, 19 Jan 2024SEK 130.3bSEK 49.6b-SEK 4,739,532,450.0060.1x-27.5x2.6x
Sun, 17 Dec 2023SEK 138.9bSEK 49.5b-SEK 4,657,583,968.0054.6x-29.8x2.8x
Tue, 14 Nov 2023SEK 108.7bSEK 50.4b-SEK 4,828,629,626.0055.5x-22.5x2.2x
Thu, 12 Oct 2023SEK 113.6bSEK 50.0b-SEK 9,408,659,166.0043.3x-12.1x2.3x
Sat, 09 Sep 2023SEK 117.6bSEK 50.1b-SEK 9,486,316,941.0041.1x-12.4x2.3x
Mon, 07 Aug 2023SEK 131.2bSEK 49.9b-SEK 9,438,025,945.0042.2x-13.9x2.6x
Wed, 05 Jul 2023SEK 125.1bSEK 49.7b-SEK 9,535,237,101.0040.2x-13.1x2.5x
Fri, 02 Jun 2023SEK 128.7bSEK 49.7b-SEK 9,484,271,306.0039.4x-13.6x2.6x
Sun, 30 Apr 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 Market0.56%
Tech3.58%
Software9.61%
Application Software10.30%
Systems Software4.91%
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 28.8016.8%
+SEK 3.0b		33.8%PE97.3x
VIT B Vitec Software GroupSEK 273.209.4%
+SEK 991.7m		-41.6%PE26.6x
TRUE B TruecallerSEK 12.1911.3%
+SEK 403.2m		-82.4%PE10.2x
SMCRT SmartCraft GroupSEK 15.787.3%
+SEK 173.0m		n/aPE30.6x
LIME Lime TechnologiesSEK 229.504.6%
+SEK 133.2m		-38.5%PE26.8x

Latest News

VERT B
SEK 59.80
Vertiseit
7D
7.6%
1Y
-7.7%
LIME
SEK 229.50
Lime Technologies
7D
4.6%
1Y
-38.5%
BIM
SEK 4.93
BIMobject
7D
12.6%
1Y
-37.4%
QBNK
SEK 6.75
QBNK Holding
7D
-23.3%
1Y
n/a
TRUE B
SEK 12.19
Truecaller
7D
11.3%
1Y
-82.4%

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.
4C
SEK 10.88
4C Group
7D
15.7%
1Y
-27.5%
VIT B
SEK 273.20
Vitec Software Group
7D
9.4%
1Y
-41.6%

VIT B: Dividend Growth And Share Buybacks Will Support Future Upside

Analysts have slightly adjusted their SEK price target for Vitec Software Group to reflect updated views on fair value, discount rates, revenue growth assumptions, profit margins and future P/E expectations. What's in the News Proposed dividend per share for the 2025 financial year is SEK 3.68, compared with SEK 3.60, and is described as being in line with earnings per share growth if approved (Key Developments).
SMCRT
SEK 15.78
SmartCraft Group
7D
7.3%
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 28.80
Sinch
7D
16.8%
1Y
33.8%
DONE
SEK 8.75
Done.ai Group
7D
-0.9%
1Y
-12.3%
SKOLON
SEK 20.80
Skolon
7D
-2.8%
1Y
-30.7%
FPIP
SEK 22.80
Formpipe Software
7D
-3.0%
1Y
-12.3%
FLOWS
SEK 3.02
Flowscape Technology
7D
-7.4%
1Y
-3.8%
BRIX
SEK 18.44
Briox
7D
-3.5%
1Y
202.3%

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
VALUNO
SEK 0.19
Valuno Group
7D
-9.5%
1Y
-92.2%
MEGR
SEK 5.75
Mediacle Group
7D
-4.2%
1Y
-43.6%

Mediacle Group AB (publ)'s (NGM:MEGR) Price Is Right But Growth Is Lacking After Shares Rocket 30%

Nov 18
Mediacle Group AB (publ)'s (NGM:MEGR) Price Is Right But Growth Is Lacking After Shares Rocket 30%