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Swedish (OMX) Market Analysis & Valuation

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies796
  • 7D-0.6%
  • 3M2.1%
  • 1Y3.0%
  • YTD3.2%

The Consumer Staples sector gained 3.1% while the market remained flat over the last week. Similarly, the market is flat for the past 12 months. Looking forward, earnings are forecast to grow by 14% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

Has the Swedish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025SEK 11.5tSEK 5.8tSEK 547.6b21.6x20.9x2x
Sat, 15 Nov 2025SEK 11.4tSEK 5.8tSEK 544.3b22.1x21x2x
Mon, 13 Oct 2025SEK 11.2tSEK 5.8tSEK 484.6b22.7x23.2x1.9x
Wed, 10 Sep 2025SEK 11.0tSEK 5.8tSEK 480.1b23.1x23x1.9x
Fri, 08 Aug 2025SEK 11.0tSEK 5.7tSEK 471.2b23.5x23.4x1.9x
Sun, 06 Jul 2025SEK 11.0tSEK 5.8tSEK 497.1b23.3x22.2x1.9x
Tue, 03 Jun 2025SEK 10.8tSEK 5.8tSEK 496.0b22.6x21.7x1.8x
Thu, 01 May 2025SEK 10.6tSEK 5.8tSEK 463.2b21.5x22.9x1.8x
Sat, 29 Mar 2025SEK 10.9tSEK 5.9tSEK 547.2b21.4x20x1.9x
Mon, 24 Feb 2025SEK 11.7tSEK 5.9tSEK 537.9b23.3x21.8x2x
Wed, 22 Jan 2025SEK 11.3tSEK 6.0tSEK 588.6b23.4x19.2x1.9x
Fri, 20 Dec 2024SEK 10.7tSEK 6.0tSEK 587.9b23.1x18.2x1.8x
Sun, 17 Nov 2024SEK 10.7tSEK 6.0tSEK 586.6b22.2x18.3x1.8x
Tue, 15 Oct 2024SEK 11.2tSEK 5.9tSEK 496.0b23.7x22.6x1.9x
Thu, 12 Sep 2024SEK 11.3tSEK 6.1tSEK 553.9b23.8x20.4x1.9x
Sat, 10 Aug 2024SEK 11.2tSEK 6.1tSEK 549.0b22.9x20.3x1.8x
Mon, 08 Jul 2024SEK 11.5tSEK 6.1tSEK 514.8b23x22.3x1.9x
Wed, 05 Jun 2024SEK 11.5tSEK 6.0tSEK 513.2b23x22.4x1.9x
Fri, 03 May 2024SEK 11.1tSEK 6.1tSEK 559.8b22.4x19.8x1.8x
Sun, 31 Mar 2024SEK 11.3tSEK 6.0tSEK 516.3b21.6x21.9x1.9x
Tue, 27 Feb 2024SEK 10.9tSEK 6.0tSEK 485.8b21.1x22.4x1.8x
Thu, 25 Jan 2024SEK 10.3tSEK 6.0tSEK 451.8b21.4x22.8x1.7x
Sat, 23 Dec 2023SEK 10.5tSEK 6.0tSEK 440.2b21.9x23.9x1.7x
Mon, 20 Nov 2023SEK 9.6tSEK 6.0tSEK 445.7b19.4x21.6x1.6x
Wed, 18 Oct 2023SEK 9.3tSEK 6.0tSEK 492.2b17.4x18.9x1.6x
Fri, 15 Sep 2023SEK 9.4tSEK 6.0tSEK 489.4b18x19.3x1.6x
Sun, 13 Aug 2023SEK 9.6tSEK 5.9tSEK 489.3b19.5x19.6x1.6x
Tue, 11 Jul 2023SEK 9.6tSEK 5.7tSEK 410.1b19.1x23.4x1.7x
Thu, 08 Jun 2023SEK 10.1tSEK 5.6tSEK 411.5b19.2x24.6x1.8x
Sat, 06 May 2023SEK 10.1tSEK 5.6tSEK 411.3b20x24.4x1.8x
Mon, 03 Apr 2023SEK 9.0tSEK 5.3tSEK 402.7b19.2x22.4x1.7x
Wed, 01 Mar 2023SEK 9.2tSEK 5.3tSEK 404.6b19.3x22.6x1.7x
Fri, 27 Jan 2023SEK 9.1tSEK 5.1tSEK 516.2b17.1x17.5x1.8x
Sun, 25 Dec 2022SEK 9.1tSEK 5.1tSEK 511.7b15.6x17.9x1.8x
Price to Earnings Ratio

17.9x


Total Market Cap: SEK 9.1tTotal Earnings: SEK 511.7bTotal Revenue: SEK 5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21.4x202320242025
Current Market PE
  • Investors are relatively neutral on the Swedish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 21.4x.
Past Earnings Growth
  • The earnings for Swedish listed companies have grown 2.3% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Swedish Market?

SE Market-0.60%
Consumer Staples3.06%
Telecom1.73%
Materials1.11%
Real Estate0.37%
Consumer Discretionary0.37%
Financials-0.27%
Healthcare-1.31%
Industrials-1.46%
Tech-1.62%
Utilities-2.16%
Energy-8.15%
Sector PE
  • Investors favour the Healthcare sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 29.5% which is higher than its past year's earnings decline of 3.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 3.9% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 3.3% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
HM B H & M Hennes & MauritzSEK 181.154.0%
+SEK 11.2b		19.1%PE26.9xConsumer Discretionary
EQT EQTSEK 333.301.6%
+SEK 6.2b		3.3%PE42.5xFinancials
ESSITY B EssitySEK 267.403.3%
+SEK 5.8b		-9.3%PE14.9xConsumer Staples
BOL BolidenSEK 491.903.5%
+SEK 4.7b		54.2%PE17.3xMaterials
TELIA Telia CompanySEK 38.482.6%
+SEK 3.8b		26.7%PE28xTelecom
See more

Market Insights

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7D
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EQT
SEK 333.30
EQT
7D
1.6%
1Y
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Analysts have modestly raised their price target on EQT, reflecting an increase in estimated fair value from approximately SEK 295 to about SEK 323, supported by expectations for slightly faster revenue growth, improved profit margins, and a stable premium valuation multiple. Analyst Commentary Recent Street research updates have generally supported a constructive view on EQT, with major houses lifting price targets while largely maintaining existing ratings.
HEXA B
SEK 105.50
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7D
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SAAB B
SEK 491.20
Saab
7D
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1Y
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Analysts have nudged their price target on Saab higher by SEK 30 to SEK 460, citing slightly improved long term earnings visibility and a modestly higher valuation multiple. Analyst Commentary Analyst reactions to the updated target reflect a nuanced view of Saab's risk reward profile, balancing improved long term earnings visibility against lingering concerns on valuation and execution.
TELIA
SEK 38.48
Telia Company
7D
2.6%
1Y
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ATCO A
SEK 160.10
Atlas Copco
7D
-3.8%
1Y
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ATCO A Will Balance Acquisition Push With Cycle And Margin Risks

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ALFA
SEK 448.80
Alfa Laval
7D
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SAND
SEK 284.30
Sandvik
7D
-2.3%
1Y
38.4%

SAND: Medium Term Revenue Outlook Will Support Upside From Recent Buy Upgrades

We raise our Sandvik fair value estimate to SEK 335 from SEK 300, reflecting analysts' higher price targets and improved expectations for medium term revenue growth, which are partly offset by slightly lower margin assumptions and a marginally higher discount rate. Analyst Commentary Bullish analysts have recently reiterated a constructive stance on Sandvik, highlighting a combination of solid execution, improving end market conditions, and scope for further margin enhancement as key drivers of upside to the current share price.
VOLCAR B
SEK 29.96
Volvo Car AB (publ.)
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ESSITY B
SEK 267.40
Essity
7D
3.3%
1Y
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INVE A
SEK 316.90
Investor
7D
-1.6%
1Y
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SWED A
SEK 310.30
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7D
0.9%
1Y
42.7%
HM B
SEK 181.15
H & M Hennes & Mauritz
7D
4.0%
1Y
19.1%

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BOL
SEK 491.90
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7D
3.5%
1Y
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EPI A
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1Y
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