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Swedish (OMX) Market Analysis & Valuation

UpdatedDec 13, 2025
DataAggregated Company Financials
Companies797
  • 7D-0.4%
  • 3M3.7%
  • 1Y3.7%
  • YTD4.5%

Over the last 7 days, the market has remained flat, although notably the Utilities sector declined by 3.4%. As for the longer term, the market has risen 3.7% in the past 12 months. 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
Sun, 14 Dec 2025SEK 11.6tSEK 5.8tSEK 546.8b22.2x21.2x2x
Tue, 11 Nov 2025SEK 11.4tSEK 5.8tSEK 544.8b22.1x21x2x
Thu, 09 Oct 2025SEK 11.4tSEK 5.8tSEK 484.0b23.1x23.5x2x
Sat, 06 Sep 2025SEK 11.0tSEK 5.8tSEK 480.2b23.2x22.9x1.9x
Mon, 04 Aug 2025SEK 10.8tSEK 5.7tSEK 471.3b22.9x22.9x1.9x
Wed, 02 Jul 2025SEK 10.9tSEK 5.8tSEK 496.7b23.2x21.9x1.9x
Fri, 30 May 2025SEK 10.9tSEK 5.8tSEK 495.4b22.3x21.9x1.9x
Sun, 27 Apr 2025SEK 10.5tSEK 5.8tSEK 468.7b21.2x22.5x1.8x
Tue, 25 Mar 2025SEK 11.3tSEK 5.9tSEK 547.9b22x20.6x1.9x
Thu, 20 Feb 2025SEK 11.9tSEK 5.9tSEK 519.8b24x22.9x2x
Sat, 18 Jan 2025SEK 11.2tSEK 6.0tSEK 588.5b23.1x19x1.9x
Mon, 16 Dec 2024SEK 11.0tSEK 6.0tSEK 588.0b23.2x18.7x1.8x
Wed, 13 Nov 2024SEK 10.8tSEK 6.0tSEK 587.8b22.3x18.4x1.8x
Fri, 11 Oct 2024SEK 11.2tSEK 5.9tSEK 495.0b23.6x22.6x1.9x
Sun, 08 Sep 2024SEK 11.3tSEK 6.1tSEK 553.7b23.4x20.3x1.8x
Tue, 06 Aug 2024SEK 10.9tSEK 6.1tSEK 543.8b22x20x1.8x
Thu, 04 Jul 2024SEK 11.5tSEK 6.1tSEK 513.5b22.5x22.3x1.9x
Sat, 01 Jun 2024SEK 11.6tSEK 6.0tSEK 512.2b23.3x22.6x1.9x
Mon, 29 Apr 2024SEK 11.1tSEK 6.1tSEK 559.8b21.7x19.9x1.8x
Wed, 27 Mar 2024SEK 11.4tSEK 6.0tSEK 515.6b21.6x22.1x1.9x
Fri, 23 Feb 2024SEK 10.8tSEK 6.0tSEK 479.1b21.3x22.6x1.8x
Sun, 21 Jan 2024SEK 10.1tSEK 6.1tSEK 452.7b21.4x22.2x1.7x
Tue, 19 Dec 2023SEK 10.5tSEK 6.0tSEK 441.2b21x23.8x1.7x
Thu, 16 Nov 2023SEK 9.6tSEK 6.0tSEK 446.9b20x21.5x1.6x
Sat, 14 Oct 2023SEK 9.3tSEK 6.0tSEK 493.1b17.5x18.9x1.6x
Mon, 11 Sep 2023SEK 9.4tSEK 6.0tSEK 489.3b18.4x19.1x1.6x
Wed, 09 Aug 2023SEK 9.6tSEK 5.9tSEK 489.0b19.4x19.6x1.6x
Fri, 07 Jul 2023SEK 9.6tSEK 5.7tSEK 415.6b18.8x23x1.7x
Sun, 04 Jun 2023SEK 10.1tSEK 5.6tSEK 411.1b19.3x24.5x1.8x
Tue, 02 May 2023SEK 10.2tSEK 5.6tSEK 425.4b20x23.9x1.8x
Thu, 30 Mar 2023SEK 8.7tSEK 5.3tSEK 402.6b19x21.6x1.6x
Sat, 25 Feb 2023SEK 9.0tSEK 5.3tSEK 410.4b18.9x22x1.7x
Mon, 23 Jan 2023SEK 9.6tSEK 5.1tSEK 498.3b17.1x19.3x1.9x
Wed, 21 Dec 2022SEK 9.0tSEK 5.1tSEK 511.1b15.6x17.7x1.8x
Price to Earnings Ratio

17.7x


Total Market Cap: SEK 9.0tTotal Earnings: SEK 511.1bTotal Revenue: SEK 5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21.3x202320242025
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 21.3x.
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-0.44%
Consumer Discretionary0.48%
Materials0.24%
Financials-0.14%
Energy-0.26%
Industrials-0.30%
Consumer Staples-0.65%
Tech-1.00%
Real Estate-1.36%
Healthcare-1.76%
Telecom-2.18%
Utilities-3.37%
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 29.4% 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
SAAB B SaabSEK 507.703.8%
+SEK 9.9b		119.1%PE52.6xIndustrials
SWED A SwedbankSEK 309.102.0%
+SEK 6.7b		41.1%PB1.6xFinancials
HM B H & M Hennes & MauritzSEK 180.502.2%
+SEK 6.1b		15.4%PE26.8xConsumer Discretionary
BOL BolidenSEK 478.103.1%
+SEK 4.1b		46.6%PE16.9xMaterials
EQT EQTSEK 331.900.6%
+SEK 2.5b		5.3%PE42.5xFinancials
See more

Market Insights

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SOBI
SEK 329.60
Swedish Orphan Biovitrum
7D
-3.8%
1Y
4.6%
ATCO A
SEK 166.25
Atlas Copco
7D
-0.9%
1Y
-6.1%

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SINCH
SEK 31.05
Sinch
7D
7.7%
1Y
46.5%

SINCH: Share Buybacks Will Support Stronger Future Earnings Per Share

Analysts have modestly raised their price target for Sinch from $44.00 to $46.00, citing a slightly higher long term valuation multiple, despite marginally softer assumptions for revenue growth and profit margins. What's in the News Completed share buyback of 15,279,642 shares, equal to 1.81% of outstanding capital, for a total consideration of SEK 519 million under the program announced on August 12, 2025 (company disclosure) The buyback window ran from July 24, 2025 to September 30, 2025, signaling continued capital return to shareholders and management confidence in the equity valuation (company disclosure) The finalization of the SEK 519 million repurchase provides incremental support to earnings per share metrics through a lower share count in future reporting periods (company disclosure) Valuation Changes Fair Value: risen slightly from SEK 44.0 to SEK 46.0, reflecting a modestly higher long term valuation.
CLAS B
SEK 285.60
Clas Ohlson
7D
-20.9%
1Y
29.7%
RUSTA
SEK 82.95
Rusta
7D
16.0%
1Y
18.9%

RUSTA: Leadership Transition Will Support Future Nordic Expansion And Margin Improvement

Analysts have lifted their price target on Rusta from SEK 75.00 to SEK 87.50. This reflects increased confidence in slightly faster revenue growth, improving profit margins and a modestly higher justified future P/E multiple.
VOLCAR B
SEK 32.70
Volvo Car AB (publ.)
7D
-4.6%
1Y
29.4%
INVE A
SEK 319.60
Investor
7D
-0.6%
1Y
7.8%
SWED A
SEK 309.10
Swedbank
7D
2.0%
1Y
41.1%
EQT
SEK 331.90
EQT
7D
0.6%
1Y
5.3%
EMBRAC B
SEK 60.59
Embracer Group
7D
-29.1%
1Y
-69.0%
HEXA B
SEK 108.50
Hexagon
7D
-2.2%
1Y
1.5%

HEXA B: Rating Shifts And Execution Will Shape Balanced Near-Term Share Outlook

The analyst price target for Hexagon has been raised modestly, supported by analysts highlighting incremental improvements in long term revenue growth and profitability expectations, despite a slightly higher discount rate. Analyst Commentary Recent Street research paints a mixed but generally constructive picture, with incremental target price increases and rating adjustments reflecting debate around Hexagon's risk reward profile.
SSAB A
SEK 70.92
SSAB
7D
2.8%
1Y
47.5%

SSAB A: Future Returns Will Hinge On Low Carbon Projects And Execution

Analysts have raised their price target on SSAB to SEK 73 from SEK 70, reflecting slightly stronger assumptions for long term revenue growth, profit margins and valuation multiples, even as recent Street research has modestly trimmed targets amid a more cautious sector backdrop. Analyst Commentary Recent updates from JPMorgan and other Street sources show a mixed but generally constructive stance on SSAB, with modest target trims offset by continued confidence in the companys strategic execution and earnings power.
HM B
SEK 180.50
H & M Hennes & Mauritz
7D
2.2%
1Y
15.4%

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BOL
SEK 478.10
Boliden
7D
3.1%
1Y
46.6%

BOL: Gold And Silver Exposure Will Shape Future Earnings And Risks

The analyst price target for Boliden has been raised by approximately SEK 21 to reflect analysts' growing confidence in the company's volume growth potential and earnings leverage from gold and silver exposure. Analyst Commentary Recent research updates highlight a generally constructive stance on Boliden, with several price target increases reflecting improving sentiment on the company’s growth prospects and earnings profile.
VSURE
€13.97
Verisure
7D
-4.7%
1Y
n/a
SAAB B
SEK 507.70
Saab
7D
3.8%
1Y
119.1%

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