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Swedish (OMX) Application Software Industry Analysis

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies57
  • 7D0.9%
  • 3M1.7%
  • 1Y-37.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has remained flat, although notably Sinch gained 3.3%. As for the longer term, the industry has declined 37% in the last year. 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
Tue, 05 May 2026SEK 55.7bSEK 42.8b-SEK 1,607,881,590.2024.9x-34.7x1.3x
Thu, 02 Apr 2026SEK 51.0bSEK 42.8b-SEK 1,686,151,283.2823.7x-30.2x1.2x
Sat, 28 Feb 2026SEK 46.9bSEK 42.3b-SEK 1,689,121,983.0721.9x-27.8x1.1x
Mon, 26 Jan 2026SEK 56.3bSEK 44.7bSEK 1.9b24.9x29.4x1.3x
Wed, 24 Dec 2025SEK 61.7bSEK 44.8bSEK 2.0b26.4x31.5x1.4x
Fri, 21 Nov 2025SEK 60.9bSEK 45.7bSEK 2.0b24.1x30.2x1.3x
Sun, 19 Oct 2025SEK 76.2bSEK 46.7b-SEK 3,964,240,413.3729.6x-19.2x1.6x
Tue, 16 Sep 2025SEK 76.5bSEK 46.6b-SEK 3,993,745,186.8732.3x-19.1x1.6x
Thu, 14 Aug 2025SEK 79.9bSEK 46.7b-SEK 3,821,212,600.2030.4x-20.9x1.7x
Sat, 12 Jul 2025SEK 146.9bSEK 49.1b-SEK 3,066,257,881.5230.6x-47.9x3x
Mon, 09 Jun 2025SEK 140.9bSEK 49.1b-SEK 3,094,869,196.4528.4x-45.5x2.9x
Wed, 07 May 2025SEK 138.4bSEK 47.9b-SEK 3,083,907,158.3422.7x-44.9x2.9x
Fri, 04 Apr 2025SEK 137.1bSEK 48.4b-SEK 3,169,940,792.4730.1x-43.2x2.8x
Sun, 02 Mar 2025SEK 137.6bSEK 48.5b-SEK 3,560,241,283.6628.2x-38.7x2.8x
Tue, 28 Jan 2025SEK 130.8bSEK 46.5b-SEK 10,043,304,295.1339.9x-13x2.8x
Thu, 26 Dec 2024SEK 122.3bSEK 46.5b-SEK 10,074,636,144.8137.5x-12.1x2.6x
Sat, 23 Nov 2024SEK 114.5bSEK 45.4b-SEK 10,079,879,321.9137.8x-11.4x2.5x
Mon, 21 Oct 2024SEK 116.6bSEK 44.9b-SEK 4,325,182,681.5435.4x-27x2.6x
Wed, 18 Sep 2024SEK 118.0bSEK 44.8b-SEK 4,294,025,710.8836.2x-27.5x2.6x
Fri, 16 Aug 2024SEK 113.6bSEK 44.7b-SEK 4,442,574,886.5638.3x-25.6x2.5x
Sun, 14 Jul 2024SEK 116.9bSEK 45.0b-SEK 4,533,557,921.9554.2x-25.8x2.6x
Tue, 11 Jun 2024SEK 116.6bSEK 44.8b-SEK 4,526,609,720.5152x-25.8x2.6x
Thu, 09 May 2024SEK 123.0bSEK 47.7b-SEK 4,699,766,821.7152x-26.2x2.6x
Sat, 06 Apr 2024SEK 128.2bSEK 48.5b-SEK 4,869,722,438.9353.3x-26.3x2.6x
Mon, 04 Mar 2024SEK 142.3bSEK 49.4b-SEK 5,179,622,622.5954.1x-27.5x2.9x
Wed, 31 Jan 2024SEK 138.4bSEK 49.6b-SEK 4,685,485,322.0061.7x-29.5x2.8x
Fri, 29 Dec 2023SEK 140.7bSEK 49.5b-SEK 4,598,372,242.0058.9x-30.6x2.8x
Sun, 26 Nov 2023SEK 117.5bSEK 50.3b-SEK 4,775,487,883.0054.8x-24.6x2.3x
Tue, 24 Oct 2023SEK 102.7bSEK 50.3b-SEK 9,443,986,772.0043.4x-10.9x2x
Thu, 21 Sep 2023SEK 119.6bSEK 50.2b-SEK 9,517,844,888.0044.2x-12.6x2.4x
Sat, 19 Aug 2023SEK 121.8bSEK 50.1b-SEK 9,607,237,864.0038.3x-12.7x2.4x
Mon, 17 Jul 2023SEK 131.3bSEK 49.9b-SEK 9,285,327,748.0041.4x-14.1x2.6x
Wed, 14 Jun 2023SEK 130.8bSEK 49.6b-SEK 9,463,600,971.0042.2x-13.8x2.6x
Fri, 12 May 2023SEK 134.0bSEK 49.4b-SEK 9,305,695,388.0040.1x-14.4x2.7x
Price to Earnings Ratio

-14.4x


Total Market Cap: SEK 134.0bTotal Earnings: -SEK 9,305,695,388.00Total Revenue: SEK 49.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Application Software Industry Price to Earnings3Y Average -18.2x202420252026
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 4.7% 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 Market-1.89%
Tech-0.095%
Software0.72%
Application Software0.87%
Systems Software-0.30%
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 33.7417.8%
+SEK 3.7b		42.4%PE113.9x
TRUE B TruecallerSEK 12.775.7%
+SEK 225.3m		-83.2%PE10.7x
SMCRT SmartCraft GroupSEK 17.408.8%
+SEK 224.3m		n/aPE33.4x
TERRNT B TerranetSEK 0.1998.9%
+SEK 209.3m		88.0%PS56.9x
CINT Cint GroupSEK 5.722.7%
+SEK 54.2m		-24.5%PS1.3x

Latest News

FPIP
SEK 18.60
Formpipe Software
7D
-19.5%
1Y
-31.4%
4C
SEK 6.45
4C Group
7D
-39.7%
1Y
-54.6%
VIT B
SEK 260.00
Vitec Software Group
7D
-1.9%
1Y
-43.2%

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).
SMCRT
SEK 17.40
SmartCraft Group
7D
8.8%
1Y
n/a

Recurring Revenue And AI Adoption Will Support Future Stability For Construction Software

Catalysts About SmartCraft Group SmartCraft Group provides software solutions that help small and mid-sized construction, electro, HVAC and property management companies plan work, manage workflows and run projects more efficiently. What are the underlying business or industry changes driving this perspective?
SLEEP
SEK 15.34
Sleep Cycle
7D
-17.9%
1Y
-50.5%

Earnings Release: Here's Why Analysts Cut Their Sleep Cycle AB (publ) (STO:SLEEP) Price Target To kr29.00

May 02
Earnings Release: Here's Why Analysts Cut Their Sleep Cycle AB (publ) (STO:SLEEP) Price Target To kr29.00
CFISH
SEK 3.58
Crunchfish
7D
12.6%
1Y
280.3%
VERT B
SEK 53.80
Vertiseit
7D
-3.9%
1Y
-7.9%
OPTER
SEK 75.40
Opter
7D
-10.0%
1Y
-26.1%
LIME
SEK 221.50
Lime Technologies
7D
-1.8%
1Y
-42.3%

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).
CINT
SEK 5.72
Cint Group
7D
2.7%
1Y
-24.5%
TERRNT B
SEK 0.19
Terranet
7D
98.9%
1Y
88.0%
UPSALE
SEK 28.80
Upsales Technology
7D
2.5%
1Y
-6.5%
SINCH
SEK 33.74
Sinch
7D
17.8%
1Y
42.4%
TRUE B
SEK 12.77
Truecaller
7D
5.7%
1Y
-83.2%

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.
BRIX
SEK 17.90
Briox
7D
-6.8%
1Y
205.5%

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
NORDIG
SEK 0.80
Nord Insuretech Group
7D
14.3%
1Y
220.0%

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