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Swedish (OMX) Software Industry Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies66
  • 7D-0.4%
  • 3M15.0%
  • 1Y-23.4%
  • YTD2.6%

Last week, the Software industry hasn't moved much but Yubico is up 9.2% in that time. Unfortunately though, the industry is down 23% over the past 12 months. As for the next few years, earnings are expected to grow by 38% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026SEK 77.5bSEK 45.3b-SEK 1,500,349,134.9121.7x-51.6x1.7x
Thu, 18 Jun 2026SEK 69.3bSEK 45.5b-SEK 1,392,970,702.6924.3x-49.8x1.5x
Sat, 16 May 2026SEK 72.1bSEK 45.3b-SEK 1,369,413,463.5626.9x-52.6x1.6x
Mon, 13 Apr 2026SEK 56.9bSEK 46.0b-SEK 1,521,678,463.3923.7x-37.4x1.2x
Wed, 11 Mar 2026SEK 54.8bSEK 45.4b-SEK 1,575,607,244.0124.6x-34.8x1.2x
Fri, 06 Feb 2026SEK 60.1bSEK 48.0bSEK 2.2b23.1x27.5x1.3x
Sun, 04 Jan 2026SEK 71.4bSEK 48.1bSEK 2.2b26.9x32x1.5x
Tue, 02 Dec 2025SEK 73.2bSEK 48.2bSEK 2.2b27.1x33x1.5x
Thu, 30 Oct 2025SEK 85.4bSEK 50.0b-SEK 3,704,864,567.8930.8x-23.1x1.7x
Sat, 27 Sep 2025SEK 90.3bSEK 49.9b-SEK 3,689,606,460.0931.7x-24.5x1.8x
Mon, 25 Aug 2025SEK 97.0bSEK 49.9b-SEK 3,643,996,354.9535.1x-26.6x1.9x
Wed, 23 Jul 2025SEK 158.2bSEK 52.1b-SEK 2,628,577,876.1535.2x-60.2x3x
Fri, 20 Jun 2025SEK 153.3bSEK 52.4b-SEK 2,693,817,341.5532.8x-56.9x2.9x
Sun, 18 May 2025SEK 155.5bSEK 51.5b-SEK 2,692,381,579.9431.9x-57.8x3x
Tue, 15 Apr 2025SEK 153.9bSEK 51.8b-SEK 2,767,118,392.1630.4x-55.6x3x
Thu, 13 Mar 2025SEK 147.8bSEK 51.6b-SEK 3,150,503,566.7034.4x-46.9x2.9x
Sat, 08 Feb 2025SEK 164.0bSEK 49.7b-SEK 9,567,742,484.4239.9x-17.1x3.3x
Mon, 06 Jan 2025SEK 147.8bSEK 49.6b-SEK 9,682,020,675.6742.3x-15.3x3x
Wed, 04 Dec 2024SEK 148.3bSEK 49.3b-SEK 9,748,420,400.1042.2x-15.2x3x
Fri, 01 Nov 2024SEK 153.2bSEK 47.8b-SEK 3,934,540,319.3842.4x-38.9x3.2x
Sun, 29 Sep 2024SEK 145.7bSEK 47.6b-SEK 4,087,936,761.2239x-35.6x3.1x
Tue, 27 Aug 2024SEK 146.2bSEK 47.7b-SEK 4,252,771,870.7738.7x-34.4x3.1x
Thu, 25 Jul 2024SEK 146.2bSEK 47.5b-SEK 4,424,708,700.2955.9x-33x3.1x
Sat, 22 Jun 2024SEK 135.9bSEK 47.4b-SEK 4,393,242,705.2154.2x-30.9x2.9x
Mon, 20 May 2024SEK 150.8bSEK 50.4b-SEK 4,550,081,902.7258.2x-33.1x3x
Wed, 17 Apr 2024SEK 143.2bSEK 51.2b-SEK 4,829,435,189.4747.6x-29.6x2.8x
Fri, 15 Mar 2024SEK 149.7bSEK 51.1b-SEK 4,648,503,717.8756.9x-32.2x2.9x
Sun, 11 Feb 2024SEK 146.5bSEK 50.2b-SEK 4,979,385,835.7963x-29.4x2.9x
Tue, 09 Jan 2024SEK 148.5bSEK 50.4b-SEK 4,719,118,029.0066.5x-31.5x2.9x
Thu, 07 Dec 2023SEK 137.6bSEK 50.4b-SEK 4,715,799,010.0059x-29.2x2.7x
Sat, 04 Nov 2023SEK 113.8bSEK 51.0b-SEK 9,765,353,701.0041.2x-11.6x2.2x
Mon, 02 Oct 2023SEK 118.0bSEK 50.8b-SEK 9,465,729,000.0045.2x-12.5x2.3x
Wed, 30 Aug 2023SEK 121.9bSEK 51.0b-SEK 9,523,622,153.0045.2x-12.8x2.4x
Fri, 28 Jul 2023SEK 138.7bSEK 50.7b-SEK 9,459,137,187.0047.8x-14.7x2.7x
Price to Earnings Ratio

-14.7x


Total Market Cap: SEK 138.7bTotal Earnings: -SEK 9,459,137,187.00Total Revenue: SEK 50.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Software Industry Price to Earnings3Y Average -25.7x202420252026
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 Market-0.20%
Tech-7.36%
Software-0.38%
Systems Software3.31%
Application Software-1.02%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 57.0x.
    • Analysts are expecting annual earnings growth of 41.9%, which is lower than the prior year's growth of 96.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 42% over the next 5 years.
  • However this is lower than its past earnings growth rate of 96% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 38% 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 66.009.2%
+SEK 476.0m		-50.1%PE57.6x
TRUE B TruecallerSEK 16.504.3%
+SEK 221.1m		-69.8%PE21.4x
STATE Safestate GroupSEK 27.7511.4%
+SEK 114.6m		23.3%PS23.6x
LIME Lime TechnologiesSEK 215.003.4%
+SEK 97.1m		-43.3%PE24x
BRIX BrioxSEK 18.686.7%
+SEK 89.7m		92.6%PS40.3x

Latest News

CINT
SEK 5.98
Cint Group
7D
1.7%
1Y
-16.8%
ONEF
SEK 19.95
Oneflow
7D
17.4%
1Y
-18.9%
VERT B
SEK 58.60
Vertiseit
7D
4.6%
1Y
-20.8%
AVEN
SEK 6.08
Avensia
7D
-13.9%
1Y
-42.6%
TRUE B
SEK 16.50
Truecaller
7D
4.3%
1Y
-69.8%
ADVE
SEK 17.30
Advenica
7D
-4.5%
1Y
-26.7%
LIME
SEK 215.00
Lime Technologies
7D
3.4%
1Y
-43.3%
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...
VIT B
SEK 222.00
Vitec Software Group
7D
-4.4%
1Y
-42.8%
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.
SINCH
SEK 39.02
Sinch
7D
-2.7%
1Y
34.8%
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.
4C
SEK 7.90
4C Group
7D
-9.6%
1Y
-57.9%
YUBICO
SEK 66.00
Yubico
7D
9.2%
1Y
-50.1%
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 27.75
Safestate Group
7D
11.4%
1Y
23.3%
BRIX
SEK 18.68
Briox
7D
6.7%
1Y
92.6%
CLAV
SEK 4.81
Clavister Holding AB (publ.)
7D
-6.6%
1Y
10.2%
FREJA
SEK 20.30
Freja eID Group
7D
-13.2%
1Y
58.0%
BIM
SEK 4.95
BIMobject
7D
-4.4%
1Y
-22.5%