Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Application Software Industry Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies58
  • 7D-2.7%
  • 3M-18.3%
  • 1Y-39.7%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 2.7%, driven by Sinch declining 3.4%. Overall the industry is down 40% in 12 months. Looking forward, earnings are forecast to grow by 32% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026SEK 49.9bSEK 42.8b-SEK 1,668,653,463.3922.7x-29.9x1.2x
Tue, 10 Mar 2026SEK 46.8bSEK 42.2b-SEK 1,740,341,889.4922x-26.9x1.1x
Thu, 05 Feb 2026SEK 51.7bSEK 44.7bSEK 1.9b23.1x26.9x1.2x
Sat, 03 Jan 2026SEK 61.2bSEK 44.8bSEK 2.0b27.4x31.2x1.4x
Mon, 01 Dec 2025SEK 63.4bSEK 44.9bSEK 2.0b26.5x32.1x1.4x
Wed, 29 Oct 2025SEK 75.5bSEK 46.7b-SEK 3,985,865,247.8629.9x-19x1.6x
Fri, 26 Sep 2025SEK 76.4bSEK 46.7b-SEK 3,968,270,187.4031.1x-19.3x1.6x
Sun, 24 Aug 2025SEK 81.1bSEK 46.7b-SEK 3,923,800,354.9532.3x-20.7x1.7x
Tue, 22 Jul 2025SEK 139.4bSEK 49.3b-SEK 2,964,213,604.1434.9x-47x2.8x
Thu, 19 Jun 2025SEK 140.9bSEK 49.2b-SEK 3,087,100,541.4328.4x-45.7x2.9x
Sat, 17 May 2025SEK 139.6bSEK 48.3b-SEK 3,089,226,579.9422.2x-45.2x2.9x
Mon, 14 Apr 2025SEK 133.3bSEK 48.6b-SEK 3,172,518,318.1228.4x-42x2.7x
Wed, 12 Mar 2025SEK 127.1bSEK 48.5b-SEK 3,551,528,610.2628.7x-35.8x2.6x
Fri, 07 Feb 2025SEK 140.9bSEK 46.6b-SEK 9,940,474,956.5039.6x-14.2x3x
Sun, 05 Jan 2025SEK 125.5bSEK 46.5b-SEK 10,024,126,645.6741.1x-12.5x2.7x
Tue, 03 Dec 2024SEK 122.3bSEK 46.3b-SEK 10,072,887,094.8540.9x-12.1x2.6x
Thu, 31 Oct 2024SEK 126.6bSEK 44.9b-SEK 4,142,024,648.1237.8x-30.6x2.8x
Sat, 28 Sep 2024SEK 120.8bSEK 44.7b-SEK 4,220,885,731.2236.9x-28.6x2.7x
Mon, 26 Aug 2024SEK 116.7bSEK 44.8b-SEK 4,382,806,503.8435.2x-26.6x2.6x
Wed, 24 Jul 2024SEK 119.5bSEK 44.8b-SEK 4,529,508,704.1636.7x-26.4x2.7x
Fri, 21 Jun 2024SEK 113.2bSEK 44.7b-SEK 4,486,584,937.6450.6x-25.2x2.5x
Sun, 19 May 2024SEK 129.4bSEK 47.6b-SEK 4,649,072,902.7250.8x-27.8x2.7x
Tue, 16 Apr 2024SEK 125.7bSEK 48.5b-SEK 4,882,947,581.9252.8x-25.7x2.6x
Thu, 14 Mar 2024SEK 132.1bSEK 48.3b-SEK 4,712,185,309.9257.6x-28x2.7x
Sat, 10 Feb 2024SEK 132.2bSEK 49.4b-SEK 4,919,973,151.7959.6x-26.9x2.7x
Mon, 08 Jan 2024SEK 134.4bSEK 49.6b-SEK 4,669,303,098.0058.6x-28.8x2.7x
Wed, 06 Dec 2023SEK 124.5bSEK 49.5b-SEK 4,714,811,107.0054.2x-26.4x2.5x
Fri, 03 Nov 2023SEK 101.2bSEK 50.3b-SEK 9,750,764,784.0044.8x-10.4x2x
Sun, 01 Oct 2023SEK 116.0bSEK 50.0b-SEK 9,402,541,616.0043.9x-12.3x2.3x
Tue, 29 Aug 2023SEK 119.3bSEK 50.2b-SEK 9,473,976,153.0042.1x-12.6x2.4x
Thu, 27 Jul 2023SEK 136.8bSEK 49.9b-SEK 9,404,983,865.0043.2x-14.5x2.7x
Sat, 24 Jun 2023SEK 124.7bSEK 49.7b-SEK 9,501,306,109.0041.8x-13.1x2.5x
Mon, 22 May 2023SEK 134.5bSEK 49.5b-SEK 9,400,928,845.0039.3x-14.3x2.7x
Wed, 19 Apr 2023SEK 131.2bSEK 48.7b-SEK 9,145,311,740.0039.1x-14.3x2.7x
Price to Earnings Ratio

-14.3x


Total Market Cap: SEK 131.2bTotal Earnings: -SEK 9,145,311,740.00Total Revenue: SEK 48.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Application Software Industry Price to Earnings3Y Average -17.8x202420252026
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 4.2% 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 Market4.42%
Tech4.40%
Software-1.90%
Application Software-2.65%
Systems Software3.82%
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 3.742.2%
+SEK 28.4m		-43.7%PS0.8x
VERT B VertiseitSEK 55.601.5%
+SEK 24.3m		-9.7%PE279.4x
SKOLON SkolonSEK 22.604.1%
+SEK 23.9m		-28.5%PS2.9x
GREAT Greater ThanSEK 12.1011.0%
+SEK 22.5m		-58.0%PS17.5x
FPIP Formpipe SoftwareSEK 23.301.7%
+SEK 21.6m		-12.1%PS5.2x

Latest News

CFISH
SEK 2.91
Crunchfish
7D
8.0%
1Y
226.8%
SINCH
SEK 24.46
Sinch
7D
-3.4%
1Y
29.1%

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.
GREAT
SEK 12.10
Greater Than
7D
11.0%
1Y
-58.0%
SMCRT
SEK 16.16
SmartCraft Group
7D
-6.8%
1Y
n/a
TRUE B
SEK 10.35
Truecaller
7D
-2.9%
1Y
-84.1%

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 3.74
Cint Group
7D
2.2%
1Y
-43.7%
VIT B
SEK 231.20
Vitec Software Group
7D
-4.4%
1Y
-54.5%

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.
SKOLON
SEK 22.60
Skolon
7D
4.1%
1Y
-28.5%
FPIP
SEK 23.30
Formpipe Software
7D
1.7%
1Y
-12.1%
LIME
SEK 199.80
Lime Technologies
7D
-3.2%
1Y
-44.7%

LIME: AI Expansion And Buyback Authorization Will Support Future Upside

Analysts have nudged their price target for Lime Technologies slightly higher to SEK332.75 from SEK332, reflecting small model adjustments to revenue growth, profit margins and future P/E assumptions. What's in the News Lime Technologies has a proposal for a split dividend in 2026, with the first record date on 4 May 2026 and expected payment on 7 May 2026 through Euroclear Sweden AB, subject to approval at the annual general meeting (Key Developments).
VERT B
SEK 55.60
Vertiseit
7D
1.5%
1Y
-9.7%
4C
SEK 8.91
4C Group
7D
5.6%
1Y
-41.2%
NEO B
SEK 4.22
Neovici Holding
7D
-8.9%
1Y
-29.4%
AVEN
SEK 7.48
Avensia
7D
7.5%
1Y
-19.6%
BIM
SEK 4.52
BIMobject
7D
-4.8%
1Y
-36.0%
OBSE
SEK 0.38
Observit
7D
-9.4%
1Y
-16.0%