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Swedish (OMX) Software Industry Analysis

UpdatedJul 18, 2026
DataAggregated Company Financials
Companies66
  • 7D0.7%
  • 3M16.1%
  • 1Y-25.1%
  • YTD2.4%

The Software is pretty flat in the last 7 days, but Yubico has stood out, gaining 7.9%. Unfortunately though, the industry is down 25% over the past 12 months. Earnings are forecast to grow by 37% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 18 Jul 2026SEK 77.3bSEK 45.5b-SEK 1,408,949,575.7522.1x-54.8x1.7x
Mon, 15 Jun 2026SEK 71.4bSEK 45.5b-SEK 1,385,429,647.8123.7x-51.5x1.6x
Wed, 13 May 2026SEK 71.9bSEK 45.1b-SEK 1,336,428,910.5327.3x-53.8x1.6x
Fri, 10 Apr 2026SEK 57.2bSEK 46.0b-SEK 1,516,791,494.3323.3x-37.7x1.2x
Sun, 08 Mar 2026SEK 56.5bSEK 45.5b-SEK 1,596,337,409.0725x-35.4x1.2x
Tue, 03 Feb 2026SEK 63.0bSEK 48.0bSEK 2.2b24.6x28.8x1.3x
Thu, 01 Jan 2026SEK 73.4bSEK 48.1bSEK 2.2b27.8x32.9x1.5x
Sat, 29 Nov 2025SEK 74.5bSEK 48.9bSEK 2.3b27.5x32.9x1.5x
Mon, 27 Oct 2025SEK 89.2bSEK 50.0b-SEK 3,706,279,642.6829.7x-24.1x1.8x
Wed, 24 Sep 2025SEK 92.7bSEK 49.9b-SEK 3,689,539,799.1733x-25.1x1.9x
Fri, 22 Aug 2025SEK 95.9bSEK 49.9b-SEK 3,656,595,934.5034.6x-26.2x1.9x
Sun, 20 Jul 2025SEK 154.4bSEK 52.6b-SEK 2,577,392,103.3934.2x-59.9x2.9x
Tue, 17 Jun 2025SEK 156.8bSEK 52.4b-SEK 2,724,829,315.4934.7x-57.6x3x
Thu, 15 May 2025SEK 155.9bSEK 51.6b-SEK 2,690,194,935.2029.7x-58x3x
Sat, 12 Apr 2025SEK 151.1bSEK 51.8b-SEK 2,768,653,318.1230.4x-54.6x2.9x
Mon, 10 Mar 2025SEK 153.0bSEK 51.6b-SEK 3,144,087,827.2836.3x-48.7x3x
Wed, 05 Feb 2025SEK 159.8bSEK 49.6b-SEK 9,622,957,484.5540.1x-16.6x3.2x
Fri, 03 Jan 2025SEK 150.8bSEK 49.6b-SEK 9,677,463,476.9042.4x-15.6x3x
Sun, 01 Dec 2024SEK 144.4bSEK 49.3b-SEK 9,724,493,138.4142.1x-14.9x2.9x
Tue, 29 Oct 2024SEK 153.8bSEK 47.8b-SEK 3,964,651,471.4443.5x-38.8x3.2x
Thu, 26 Sep 2024SEK 142.7bSEK 47.7b-SEK 4,172,647,229.3338.7x-34.2x3x
Sat, 24 Aug 2024SEK 147.2bSEK 47.8b-SEK 4,282,248,570.8446.7x-34.4x3.1x
Mon, 22 Jul 2024SEK 144.8bSEK 47.5b-SEK 4,461,725,035.1757.6x-32.5x3x
Wed, 19 Jun 2024SEK 138.2bSEK 47.5b-SEK 4,402,840,317.1855.1x-31.4x2.9x
Fri, 17 May 2024SEK 150.1bSEK 50.4b-SEK 4,563,190,976.1754.5x-32.9x3x
Sun, 14 Apr 2024SEK 144.3bSEK 51.2b-SEK 4,811,461,017.3849.5x-30x2.8x
Tue, 12 Mar 2024SEK 157.3bSEK 52.1b-SEK 4,938,555,660.1157.1x-31.8x3x
Thu, 08 Feb 2024SEK 144.2bSEK 50.0b-SEK 4,727,324,501.8659.7x-30.5x2.9x
Sat, 06 Jan 2024SEK 147.5bSEK 50.4b-SEK 4,722,543,793.0065.5x-31.2x2.9x
Mon, 04 Dec 2023SEK 133.7bSEK 50.3b-SEK 4,754,525,427.0056.6x-28.1x2.7x
Wed, 01 Nov 2023SEK 109.1bSEK 51.1b-SEK 9,716,132,155.0038x-11.2x2.1x
Fri, 29 Sep 2023SEK 116.2bSEK 50.8b-SEK 9,463,215,103.0044.1x-12.3x2.3x
Sun, 27 Aug 2023SEK 119.6bSEK 51.0b-SEK 9,555,265,948.0045x-12.5x2.3x
Tue, 25 Jul 2023SEK 136.2bSEK 50.7b-SEK 9,459,245,033.0047.7x-14.4x2.7x
Price to Earnings Ratio

-14.4x


Total Market Cap: SEK 136.2bTotal Earnings: -SEK 9,459,245,033.00Total Revenue: SEK 50.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -25.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish 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 1.7x.
Past Earnings Growth
  • The earnings for companies in the Software industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 3.6% 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 Trends

Which industries have driven the changes within the Swedish Tech industry?

SE Market0.052%
Tech-6.05%
Software0.73%
Systems Software2.65%
Application Software0.39%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 56.6x.
    • Analysts are expecting annual earnings growth of 42.0%, which is higher than its past year's earnings decline of 41.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 42% over the next 5 years.
  • This is better than its past earnings decline of 41% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 37% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
YUBICO YubicoSEK 64.357.9%
+SEK 403.1m		-51.3%PE56.1x
TRUE B TruecallerSEK 15.917.2%
+SEK 348.9m		-73.4%PE16.3x
LIME Lime TechnologiesSEK 216.005.1%
+SEK 143.8m		-43.4%PE24.1x
BRIX BrioxSEK 18.609.9%
+SEK 127.8m		93.3%PS40.2x
VERT B VertiseitSEK 58.805.4%
+SEK 100.9m		-15.8%PE2675.6x

Latest News

TRUE B
SEK 15.91
Truecaller
7D
7.2%
1Y
-73.4%
VERT B
SEK 58.80
Vertiseit
7D
5.4%
1Y
-15.8%
LIME
SEK 216.00
Lime Technologies
7D
5.1%
1Y
-43.4%
Analysis Article • Jul 17

Lime Technologies AB (publ) Just Beat EPS By 8.2%: Here's What Analysts Think Will Happen Next

Lime Technologies AB (publ) ( STO:LIME ) just released its latest quarterly results and things are looking bullish...
MSAB B
SEK 84.00
Micro Systemation
7D
2.2%
1Y
52.7%
Narrative Update • Jul 17

MSAB B: 2030 Revenue Goal And Rising Margins Will Drive Upside Potential

Analysts have revised their price target for Micro Systemation to SEK 96.00 from SEK 78.25, citing updated assumptions for revenue growth, profit margin and future P/E as key drivers of the higher valuation. What’s in the News for Micro Systemation Micro Systemation issued revenue guidance for the second quarter of 2026, estimating SEK 122 million in revenue.
VIT B
SEK 223.20
Vitec Software Group
7D
-2.1%
1Y
-42.2%
Narrative Update • Jul 16

VIT B: Higher Margins And Rising Dividend Will Support Future Upside

Analysts have revised their price target for Vitec Software Group to SEK 500 from SEK 580. The change reflects updated assumptions for a higher discount rate, more moderate revenue growth, a slightly stronger profit margin, and a lower future P/E multiple.
NTECH
SEK 57.60
Stockholm Nordtech Group
7D
-1.7%
1Y
n/a
SINCH
SEK 39.06
Sinch
7D
-0.5%
1Y
33.2%
Narrative Update • Jul 14

SINCH: Lower Profitability Assumptions Will Likely Pressure Future Earnings Multiple

Analysts have lowered their Sinch price target from SEK 21.50 to SEK 20.00, reflecting updated assumptions for revenue growth, profit margins, the discount rate, and future P/E multiples in their valuation models. What’s in the News for Sinch Sinch appointed Jonas Dahlberg as acting CEO, effective June 8, 2026, after Laurinda Pang decided to step down.
SKOLON
SEK 21.60
Skolon
7D
8.0%
1Y
-35.1%
Analysis Article • Jul 07

We Think Skolon (STO:SKOLON) Can Easily Afford To Drive Business Growth

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
YUBICO
SEK 64.35
Yubico
7D
7.9%
1Y
-51.3%
Narrative Update • Jul 02

YUBICO: Growing FIPS Certifications And EU Cyber Ties Will Support Future Profitability

Analysts have reduced their Yubico price target from SEK 80 to SEK 70, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together support a more conservative valuation framework. What’s in the News for Yubico Yubico was accepted as a member of the European Cyber Security Organisation, aligning the company with a pan European public private group focused on phishing resistant authentication and modern digital identity standards in Europe.
STATE
SEK 26.95
Safestate Group
7D
8.9%
1Y
16.4%
BLINC B
SEK 0.10
BlincVision
7D
-9.9%
1Y
2.5%
BRIX
SEK 18.60
Briox
7D
9.9%
1Y
93.3%
CLAV
SEK 4.83
Clavister Holding AB (publ.)
7D
-6.5%
1Y
7.8%
AVEN
SEK 6.12
Avensia
7D
-14.0%
1Y
-39.7%
ADVE
SEK 16.40
Advenica
7D
-7.8%
1Y
-38.6%
FREJA
SEK 22.30
Freja eID Group
7D
-5.5%
1Y
74.2%