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Swedish (OMX) Application Software Industry Analysis

UpdatedMay 07, 2026
DataAggregated Company Financials
Companies57
  • 7D7.3%
  • 3M14.2%
  • 1Y-31.3%
  • YTDn/a

The Application Software industry is up 6.1% in the last week, with Sinch up 17%. In the same time, Formpipe Software was down 15%. In contrast, the industry has lost 32% in the last 12 months. Earnings are forecast to grow by 35% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 07 May 2026SEK 59.3bSEK 42.8b-SEK 1,575,929,702.0424.8x-37.6x1.4x
Sat, 04 Apr 2026SEK 50.7bSEK 42.8b-SEK 1,688,062,825.2223.4x-30x1.2x
Mon, 02 Mar 2026SEK 46.9bSEK 42.3b-SEK 1,689,934,579.7721.9x-27.7x1.1x
Wed, 28 Jan 2026SEK 55.4bSEK 44.7bSEK 1.9b25.6x28.9x1.2x
Fri, 26 Dec 2025SEK 61.8bSEK 44.8bSEK 2.0b26.4x31.6x1.4x
Sun, 23 Nov 2025SEK 60.9bSEK 45.7bSEK 2.0b26.4x30.2x1.3x
Tue, 21 Oct 2025SEK 78.1bSEK 46.7b-SEK 3,964,287,681.9429.7x-19.7x1.7x
Thu, 18 Sep 2025SEK 77.2bSEK 46.7b-SEK 3,993,520,145.9032.4x-19.3x1.7x
Sat, 16 Aug 2025SEK 80.0bSEK 46.7b-SEK 3,835,098,824.1131.8x-20.9x1.7x
Mon, 14 Jul 2025SEK 142.6bSEK 49.2b-SEK 3,075,501,415.1431.5x-46.4x2.9x
Wed, 11 Jun 2025SEK 139.9bSEK 49.1b-SEK 3,118,138,571.4728.8x-44.9x2.9x
Fri, 09 May 2025SEK 137.2bSEK 48.0b-SEK 3,102,112,975.7421.4x-44.2x2.9x
Sun, 06 Apr 2025SEK 133.3bSEK 48.5b-SEK 3,172,977,001.6429.6x-42x2.7x
Tue, 04 Mar 2025SEK 136.6bSEK 48.5b-SEK 3,558,634,241.1732.1x-38.4x2.8x
Thu, 30 Jan 2025SEK 133.8bSEK 46.5b-SEK 10,032,628,084.6740.9x-13.3x2.9x
Sat, 28 Dec 2024SEK 124.9bSEK 46.5b-SEK 10,047,220,586.3939.5x-12.4x2.7x
Mon, 25 Nov 2024SEK 114.4bSEK 45.4b-SEK 10,030,928,554.4037.8x-11.4x2.5x
Wed, 23 Oct 2024SEK 116.5bSEK 44.9b-SEK 4,299,682,200.2135.5x-27.1x2.6x
Fri, 20 Sep 2024SEK 123.6bSEK 44.8b-SEK 4,304,307,419.1236.6x-28.7x2.8x
Sun, 18 Aug 2024SEK 112.7bSEK 44.7b-SEK 4,409,021,966.7238.3x-25.6x2.5x
Tue, 16 Jul 2024SEK 115.7bSEK 45.0b-SEK 4,568,417,300.7854.4x-25.3x2.6x
Thu, 13 Jun 2024SEK 116.2bSEK 44.8b-SEK 4,506,655,096.2153x-25.8x2.6x
Sat, 11 May 2024SEK 124.9bSEK 47.7b-SEK 4,679,294,882.2652.5x-26.7x2.6x
Mon, 08 Apr 2024SEK 128.2bSEK 48.5b-SEK 4,869,722,438.9353.3x-26.3x2.6x
Wed, 06 Mar 2024SEK 137.8bSEK 49.4b-SEK 5,227,674,755.6754.6x-26.4x2.8x
Fri, 02 Feb 2024SEK 133.9bSEK 49.6b-SEK 4,691,446,947.0059.7x-28.5x2.7x
Sun, 31 Dec 2023SEK 140.9bSEK 49.5b-SEK 4,632,764,907.0058.7x-30.4x2.8x
Tue, 28 Nov 2023SEK 118.2bSEK 50.3b-SEK 4,768,292,251.0054.8x-24.8x2.4x
Thu, 26 Oct 2023SEK 102.1bSEK 50.3b-SEK 9,465,431,793.0043.7x-10.8x2x
Sat, 23 Sep 2023SEK 118.4bSEK 50.2b-SEK 9,515,010,475.0045.4x-12.4x2.4x
Mon, 21 Aug 2023SEK 121.8bSEK 50.1b-SEK 9,619,284,856.0039.8x-12.7x2.4x
Wed, 19 Jul 2023SEK 129.0bSEK 49.9b-SEK 9,270,621,230.0041.9x-13.9x2.6x
Fri, 16 Jun 2023SEK 128.4bSEK 49.6b-SEK 9,471,811,820.0043x-13.6x2.6x
Sun, 14 May 2023SEK 134.6bSEK 49.5b-SEK 9,348,745,081.0038.4x-14.4x2.7x
Price to Earnings Ratio

-14.4x


Total Market Cap: SEK 134.6bTotal Earnings: -SEK 9,348,745,081.00Total Revenue: SEK 49.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Application Software Industry Price to Earnings3Y Average -18.3x202420252026
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 1.4x.
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 4.7% 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 Market3.67%
Tech3.76%
Software7.83%
Application Software7.34%
Systems Software11.39%
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 33.4717.4%
+SEK 3.6b		41.6%PE113x
VIT B Vitec Software GroupSEK 264.405.4%
+SEK 576.4m		-39.4%PE24.8x
TRUE B TruecallerSEK 12.797.4%
+SEK 287.3m		-83.0%PE10.7x
4C 4C GroupSEK 6.7013.4%
+SEK 30.2m		-53.3%PS0.8x
AVEN AvensiaSEK 8.309.8%
+SEK 27.5m		-24.2%PE14.2x

Latest News

CINT
SEK 5.73
Cint Group
7D
-1.9%
1Y
-24.4%
SINCH
SEK 33.47
Sinch
7D
17.4%
1Y
41.6%
RPLAN
SEK 0.84
Ranplan Group
7D
-23.6%
1Y
n/a
FPIP
SEK 20.30
Formpipe Software
7D
-15.4%
1Y
-24.8%
4C
SEK 6.70
4C Group
7D
13.4%
1Y
-53.3%
VIT B
SEK 264.40
Vitec Software Group
7D
5.4%
1Y
-39.4%
Narrative Update • May 03

VIT B: Rising Dividend Track Record Will Support Future Share Upside

Analysts have revised their price target for Vitec Software Group to SEK580 from SEK568.30, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E multiples. What's in the News The board approved a dividend of SEK 3.68 per share for the 2025 financial year, to be paid in four quarterly installments of SEK 0.92 per share, with a cap of SEK 156,344,798 in total dividends (Key Developments).
CFISH
SEK 3.19
Crunchfish
7D
-9.0%
1Y
262.3%
VERT B
SEK 51.20
Vertiseit
7D
-6.6%
1Y
-10.5%
LIME
SEK 219.00
Lime Technologies
7D
-2.7%
1Y
-42.4%
Narrative Update • Apr 28

LIME: Dividend And Planned Share Buyback Authorization Will Support Long-Term Upside

Analysts have adjusted their price target for Lime Technologies from SEK 332.75 to SEK 313.00, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E expectations. What's in the News The annual general meeting approved a dividend of SEK 4.50 per share, to be paid in two equal installments of SEK 2.25 per share through Euroclear Sweden AB, with record dates on 4 May 2026 and 3 November 2026 (AGM resolution).
TERRNT B
SEK 0.11
Terranet
7D
7.4%
1Y
17.9%
UPSALE
SEK 28.80
Upsales Technology
7D
2.9%
1Y
-5.6%
QBNK
SEK 6.75
QBNK Holding
7D
-23.3%
1Y
n/a
TRUE B
SEK 12.79
Truecaller
7D
7.4%
1Y
-83.0%
Narrative Update • Apr 21

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.
DONE
SEK 8.82
Done.ai Group
7D
-4.6%
1Y
-25.4%
AVEN
SEK 8.30
Avensia
7D
9.8%
1Y
-24.2%
SDS
SEK 7.75
Seamless Distribution Systems
7D
17.4%
1Y
23.0%