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Swedish (OMX) Market Analysis & Valuation

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies779
  • 7D1.7%
  • 3M-2.9%
  • 1Y9.3%
  • YTD2.2%

Over the last 7 days, the market has risen 1.7%, driven by gains of 1.5% in the Industrials sector. In contrast, the Energy sector is lagging, dropping 9.5%. As for the past 12 months, the market is up 9.3%. Looking forward, earnings are forecast to grow by 8.5% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 May 2026SEK 12.1tSEK 5.8tSEK 701.3b20.9x17.2x2.1x
Fri, 10 Apr 2026SEK 12.0tSEK 5.8tSEK 646.0b20.7x18.6x2.1x
Sun, 08 Mar 2026SEK 11.9tSEK 5.8tSEK 648.1b21.3x18.4x2x
Tue, 03 Feb 2026SEK 12.2tSEK 5.8tSEK 632.4b22.8x19.2x2.1x
Thu, 01 Jan 2026SEK 11.8tSEK 5.8tSEK 547.3b22.2x21.6x2x
Sat, 29 Nov 2025SEK 11.5tSEK 5.8tSEK 547.0b22.4x21x2x
Mon, 27 Oct 2025SEK 11.7tSEK 5.8tSEK 532.5b23.7x22x2x
Wed, 24 Sep 2025SEK 11.2tSEK 5.8tSEK 480.5b22.8x23.2x1.9x
Fri, 22 Aug 2025SEK 11.1tSEK 5.7tSEK 474.8b23.4x23.4x1.9x
Sun, 20 Jul 2025SEK 11.0tSEK 5.7tSEK 476.3b23.3x23.2x1.9x
Tue, 17 Jun 2025SEK 10.8tSEK 5.8tSEK 496.1b22.9x21.7x1.8x
Thu, 15 May 2025SEK 11.0tSEK 5.8tSEK 471.5b22.2x23.3x1.9x
Sat, 12 Apr 2025SEK 9.9tSEK 5.9tSEK 536.9b20.3x18.4x1.7x
Mon, 10 Mar 2025SEK 11.5tSEK 5.9tSEK 548.0b22.3x21x2x
Wed, 05 Feb 2025SEK 11.4tSEK 5.9tSEK 512.3b23.2x22.3x1.9x
Fri, 03 Jan 2025SEK 10.9tSEK 6.0tSEK 587.9b23.5x18.5x1.8x
Sun, 01 Dec 2024SEK 10.9tSEK 6.0tSEK 589.8b22.9x18.4x1.8x
Tue, 29 Oct 2024SEK 11.2tSEK 5.9tSEK 572.3b23.4x19.6x1.9x
Thu, 26 Sep 2024SEK 11.8tSEK 6.1tSEK 554.1b23.5x21.3x1.9x
Sat, 24 Aug 2024SEK 11.6tSEK 6.1tSEK 548.7b23.1x21.1x1.9x
Mon, 22 Jul 2024SEK 11.6tSEK 6.1tSEK 546.7b23.3x21.3x1.9x
Wed, 19 Jun 2024SEK 11.4tSEK 6.0tSEK 511.1b23.1x22.2x1.9x
Fri, 17 May 2024SEK 11.6tSEK 6.1tSEK 533.9b22.8x21.8x1.9x
Sun, 14 Apr 2024SEK 11.1tSEK 6.0tSEK 523.3b21.9x21.3x1.8x
Tue, 12 Mar 2024SEK 11.1tSEK 6.0tSEK 513.3b20.6x21.5x1.8x
Thu, 08 Feb 2024SEK 10.5tSEK 6.0tSEK 508.6b21.6x20.7x1.8x
Sat, 06 Jan 2024SEK 10.3tSEK 6.0tSEK 440.8b22x23.4x1.7x
Mon, 04 Dec 2023SEK 9.8tSEK 6.0tSEK 442.0b20.4x22.2x1.6x
Wed, 01 Nov 2023SEK 8.9tSEK 6.0tSEK 450.9b17.8x19.8x1.5x
Fri, 29 Sep 2023SEK 9.2tSEK 6.0tSEK 489.3b17.4x18.7x1.5x
Sun, 27 Aug 2023SEK 9.2tSEK 6.0tSEK 489.8b18.5x18.9x1.6x
Tue, 25 Jul 2023SEK 9.8tSEK 5.9tSEK 483.6b19.4x20.2x1.7x
Thu, 22 Jun 2023SEK 9.8tSEK 5.7tSEK 412.1b19.1x23.9x1.7x
Sat, 20 May 2023SEK 10.1tSEK 5.6tSEK 400.9b19.5x25.2x1.8x
Price to Earnings Ratio

25.2x


Total Market Cap: SEK 10.1tTotal Earnings: SEK 400.9bTotal Revenue: SEK 5.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21.1x202420252026
Current Market PE
  • Investors are pessimistic on the Swedish market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 17.2x which is lower than its 3-year average PE of 21.1x.
Past Earnings Growth
  • The earnings for Swedish listed companies have grown 20% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Swedish Market?

SE Market1.70%
Materials5.19%
Real Estate2.83%
Healthcare2.71%
Tech2.28%
Utilities1.69%
Industrials1.53%
Financials1.32%
Consumer Discretionary1.21%
Telecom1.02%
Consumer Staples0.20%
Energy-9.55%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 23.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.0%, which is higher than its past year's earnings growth of 0.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 0.9% per year.
  • In contrast, the Financials sector is expected to see its earnings decline by 7.2% 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
ERIC B Telefonaktiebolaget LM EricssonSEK 114.303.5%
+SEK 13.0b		37.5%PE15.1xTech
BOL BolidenSEK 522.006.5%
+SEK 9.1b		66.3%PE13.4xMaterials
EPI A EpirocSEK 270.501.7%
+SEK 5.4b		21.5%PE38.5xIndustrials
VSURE Verisure€11.354.2%
+€475.6m		n/aPS3.1xIndustrials
ATCO A Atlas CopcoSEK 176.200.6%
+SEK 5.1b		7.9%PE33xIndustrials
See more

Market Insights

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Latest News

ERIC B
SEK 114.30
Telefonaktiebolaget LM Ericsson
7D
3.5%
1Y
37.5%
SAAB B
SEK 510.10
Saab
7D
-11.4%
1Y
19.6%
EQT
SEK 304.10
EQT
7D
-2.6%
1Y
1.9%
SINCH
SEK 38.29
Sinch
7D
15.7%
1Y
53.5%
Analysis Article • May 11

Sinch AB (publ) Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Sinch AB (publ) ( STO:SINCH ) just released its latest quarterly results and things are looking bullish. It was overall...
GETI B
SEK 190.95
Getinge
7D
4.7%
1Y
-1.5%
Narrative Update • May 08

GETI B: Higher Dividend And Profitability Assumptions Will Support Future Confidence

Analysts have maintained their SEK 270.0 price target for Getinge, with slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E, resulting in a more refined view of the stock's risk and earnings profile. What's in the News Getinge AB approved a dividend of SEK 4.75 per share at its Annual General Meeting held on April 21, 2026, following the proposal from the Board of Directors and the CEO (Key Developments).
INVE A
SEK 362.10
Investor
7D
-0.8%
1Y
23.3%
SAND
SEK 360.00
Sandvik
7D
-5.7%
1Y
65.3%
Narrative Update • May 08

SAND: Higher Multiple Expectations Will Likely Cap Returns Despite Mixed Sector Positioning

Analysts have lifted the Sandvik fair value estimate from SEK 329.30 to SEK 381.65. This reflects a series of recent price target increases in the SEK 12 to SEK 80 range and several upgrades that highlight expectations for higher revenue growth, slightly stronger margins and a higher future P/E multiple.
HM B
SEK 159.50
H & M Hennes & Mauritz
7D
-3.6%
1Y
8.7%
ATCO A
SEK 176.20
Atlas Copco
7D
0.6%
1Y
7.9%
ASSA B
SEK 343.80
ASSA ABLOY
7D
-1.7%
1Y
10.3%
EPI A
SEK 270.50
Epiroc
7D
1.7%
1Y
21.5%
NIBE B
SEK 42.03
NIBE Industrier
7D
-8.1%
1Y
-10.8%
Narrative Update • May 07

NIBE B: Dividend Visibility And Execution Delivery Will Support Future Upside

Analysts are maintaining their SEK 55.0 price target for NIBE Industrier, reflecting a mix of views. Some highlight support for the stock with an upbeat rating, while others have turned more cautious, leading to only slight adjustments in underlying growth, margin and P/E assumptions.
HEXA B
SEK 94.16
Hexagon
7D
-3.5%
1Y
-6.5%
Analysis Article • May 07

The Hexagon AB (publ) (STO:HEXA B) Analysts Have Been Trimming Their Sales Forecasts

Market forces rained on the parade of Hexagon AB (publ) ( STO:HEXA B ) shareholders today, when the analysts downgraded...
VSURE
€11.35
Verisure
7D
4.2%
1Y
n/a
ESSITY B
SEK 248.10
Essity
7D
1.9%
1Y
-9.0%
Narrative Update • May 05

ESSITY B: Pricing Roll Off And JPMorgan Downgrade Will Pressure Sentiment

Essity's analyst fair value estimate has shifted from SEK 220.0 to SEK 215.0 as analysts factor in a slightly higher discount rate, updated views on revenue growth and margins, and a series of recent SEK price target cuts from major banks. Analyst Commentary Recent Street research on Essity has tilted more cautious, with several bearish analysts cutting SEK price targets and, in one case, JPMorgan moving to a more negative stance on the stock.
BOL
SEK 522.00
Boliden
7D
6.5%
1Y
66.3%
Narrative Update • May 01

BOL: Future Garpenberg Investment And Restart Will Support Re Rating

Analysts have trimmed the fair value estimate for Boliden from SEK 676.74 to about SEK 645.13, reflecting updated assumptions around discount rates, revenue growth, margins, and recent shifts in Street price targets that have included both increases and cuts across several banks. Analyst Commentary Recent Street research on Boliden has been mixed, with several banks adjusting price targets in both directions and some issuing rating changes.