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Swedish (OMX) Market Analysis & Valuation

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies794
  • 7D1.3%
  • 3M5.5%
  • 1Y8.2%
  • YTD6.3%

In the last week, the market has been flat. More promisingly, the market is up 7.5% over the past year. 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
Wed, 31 Dec 2025SEK 11.8tSEK 5.8tSEK 547.3b22.2x21.6x2x
Fri, 28 Nov 2025SEK 11.5tSEK 5.8tSEK 546.8b22.3x21.1x2x
Sun, 26 Oct 2025SEK 11.7tSEK 5.8tSEK 535.7b23.4x21.8x2x
Tue, 23 Sep 2025SEK 11.1tSEK 5.8tSEK 480.5b22.9x23x1.9x
Thu, 21 Aug 2025SEK 11.2tSEK 5.7tSEK 473.2b23.4x23.6x2x
Sat, 19 Jul 2025SEK 11.0tSEK 5.7tSEK 479.8b23.3x23x1.9x
Mon, 16 Jun 2025SEK 10.6tSEK 5.8tSEK 496.1b22.5x21.5x1.8x
Wed, 14 May 2025SEK 11.0tSEK 5.8tSEK 468.4b22.4x23.5x1.9x
Fri, 11 Apr 2025SEK 9.9tSEK 6.1tSEK 536.2b20.4x18.4x1.6x
Sun, 09 Mar 2025SEK 11.5tSEK 5.9tSEK 547.9b22.3x21x2x
Tue, 04 Feb 2025SEK 11.6tSEK 5.9tSEK 512.1b23.2x22.6x2x
Thu, 02 Jan 2025SEK 10.8tSEK 6.0tSEK 588.0b23.2x18.3x1.8x
Sat, 30 Nov 2024SEK 10.8tSEK 6.0tSEK 589.2b22x18.3x1.8x
Mon, 28 Oct 2024SEK 11.1tSEK 6.0tSEK 572.6b23.3x19.4x1.9x
Wed, 25 Sep 2024SEK 11.7tSEK 6.1tSEK 553.7b23.8x21.2x1.9x
Fri, 23 Aug 2024SEK 11.5tSEK 6.1tSEK 547.9b22.9x21x1.9x
Sun, 21 Jul 2024SEK 11.6tSEK 6.1tSEK 546.4b23x21.3x1.9x
Tue, 18 Jun 2024SEK 11.3tSEK 6.0tSEK 511.3b23x22.2x1.9x
Thu, 16 May 2024SEK 11.8tSEK 6.1tSEK 534.0b23.1x22.1x1.9x
Sat, 13 Apr 2024SEK 11.1tSEK 6.0tSEK 523.3b21.9x21.3x1.8x
Mon, 11 Mar 2024SEK 11.1tSEK 6.0tSEK 513.2b20.6x21.6x1.8x
Wed, 07 Feb 2024SEK 10.5tSEK 6.0tSEK 509.2b21.6x20.7x1.7x
Fri, 05 Jan 2024SEK 10.4tSEK 6.0tSEK 440.5b22.1x23.6x1.7x
Sun, 03 Dec 2023SEK 9.8tSEK 6.0tSEK 442.0b20.4x22.2x1.6x
Tue, 31 Oct 2023SEK 8.8tSEK 6.0tSEK 449.7b17.8x19.6x1.5x
Thu, 28 Sep 2023SEK 9.1tSEK 6.0tSEK 486.9b17.7x18.8x1.5x
Sat, 26 Aug 2023SEK 9.2tSEK 6.0tSEK 489.5b18.5x18.9x1.6x
Mon, 24 Jul 2023SEK 9.7tSEK 5.9tSEK 486.4b19.3x20x1.6x
Wed, 21 Jun 2023SEK 9.9tSEK 5.7tSEK 412.3b19.1x24.1x1.8x
Fri, 19 May 2023SEK 9.9tSEK 5.6tSEK 401.0b19.3x24.8x1.8x
Sun, 16 Apr 2023SEK 9.3tSEK 5.3tSEK 409.8b19.9x22.7x1.7x
Tue, 14 Mar 2023SEK 8.8tSEK 5.3tSEK 403.9b18.7x21.7x1.7x
Thu, 09 Feb 2023SEK 9.3tSEK 5.2tSEK 468.0b17.9x19.9x1.8x
Sat, 07 Jan 2023SEK 9.3tSEK 5.1tSEK 505.3b16.2x18.4x1.8x
Price to Earnings Ratio

18.4x


Total Market Cap: SEK 9.3tTotal Earnings: SEK 505.3bTotal Revenue: SEK 5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21.4x20242025
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 2.7% per year over the last three years.
  • Revenues for these companies have grown 4.4% 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 Market0.88%
Real Estate2.13%
Telecom1.70%
Materials1.50%
Consumer Discretionary1.21%
Financials0.83%
Healthcare0.81%
Industrials0.70%
Energy0.48%
Tech0.45%
Consumer Staples0.44%
Utilities-1.23%
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 30.0% 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 30% 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 3.6% 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
INVE A InvestorSEK 328.701.6%
+SEK 15.9b		12.5%PE14.3xFinancials
EQT EQTSEK 363.802.2%
+SEK 9.1b		18.9%PE46.9xFinancials
VOLV B AB VolvoSEK 295.901.4%
+SEK 8.1b		10.2%PE16.9xIndustrials
HEXA B HexagonSEK 109.502.4%
+SEK 6.8b		3.7%PE40.4xTech
SAND SandvikSEK 300.601.5%
+SEK 5.4b		51.6%PE25.5xIndustrials
See more

Market Insights

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VOLV B
SEK 295.90
AB Volvo
7D
1.4%
1Y
10.2%

Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist

Dec 28
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SAND
SEK 300.60
Sandvik
7D
1.5%
1Y
51.6%

SAND: Medium Term Margin Expansion And Cash Generation Will Drive Further Share Upside

The analyst price target for Sandvik has been increased modestly in SEK terms as analysts highlight slightly stronger revenue growth expectations, marginally higher profit margins and a marginally lower discount rate, offset by a small reduction in expected future P E multiples. Analyst Commentary Bullish analysts have become increasingly positive on Sandvik, with a series of price target hikes reflecting confidence in both the company’s execution and medium term growth profile.
ATCO A
SEK 166.05
Atlas Copco
7D
0.7%
1Y
-1.7%

What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?

Dec 26
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BIOA B
SEK 310.80
BioArctic
7D
-2.9%
1Y
55.8%

BIOA B Future Long Term Margin Upside Will Not Offset Demand Risks

Analysts have modestly raised their price target on BioArctic to SEK 230 (from SEK 230 previously), reflecting slightly lower perceived risk and a substantially improved long term profit margin outlook, despite marginally weaker revenue growth assumptions and a lower projected future P/E multiple. What's in the News Leqembi, developed by BioArctic and Eisai, has been included in China’s new Commercial Insurance Innovative Drug List.
ALIF B
SEK 159.10
AddLife
7D
-2.0%
1Y
15.9%

ALIF B Stable Margins And Discount Rate Will Support Future Upside Potential

Analysts have slightly reduced their price target on AddLife by SEK 5 to SEK 208.50, citing a modestly higher discount rate, somewhat softer long term revenue growth assumptions, and a marginally lower profit margin outlook, partly offset by a small increase in expected future valuation multiples. Valuation Changes The fair value estimate has fallen slightly from SEK 213.50 to SEK 208.50.
HEXA B
SEK 109.50
Hexagon
7D
2.4%
1Y
3.7%

HEXA B: Rating Upgrade And Margin Delivery Will Drive Upside Potential

Hexagon's analyst price target has edged slightly lower to approximately SEK 120 from about SEK 121, as analysts factor in a marginally higher discount rate and slightly softer long term margin expectations despite a series of recent target hikes and one notable rating upgrade. Analyst Commentary Analysts remain divided on Hexagon, with recent target changes and rating moves reflecting a balance between confidence in the companys structural growth prospects and caution around valuation and execution risk.
EQT
SEK 363.80
EQT
7D
2.2%
1Y
18.9%
BUFAB
SEK 100.56
Bufab
7D
-1.3%
1Y
14.5%

Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)

Dec 21
Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)
NOBA
SEK 117.80
NOBA Bank Group
7D
-1.4%
1Y
n/a
ASKER
SEK 84.40
Asker Healthcare Group
7D
-1.2%
1Y
n/a
SEB A
SEK 195.10
Skandinaviska Enskilda Banken
7D
1.2%
1Y
28.8%

SEB A: Higher Price Views Will Support Balanced Outlook Amid Sector Risks

Analysts have nudged their price target on Skandinaviska Enskilda Banken higher to about SEK 184 from roughly SEK 183, reflecting slightly stronger expectations for revenue growth, profit margins, and forward valuation multiples. Analyst Commentary Recent research updates highlight a constructive but measured stance from the Street, with modest price target increases signaling confidence in Skandinaviska Enskilda Banken's ability to execute on its strategy while acknowledging a balanced risk reward profile.
TFBANK
SEK 163.74
TF Bank
7D
-1.9%
1Y
34.6%
INVE A
SEK 328.70
Investor
7D
1.6%
1Y
12.5%
NORION
SEK 68.90
Norion Bank
7D
-3.5%
1Y
89.3%
EPI A
SEK 209.90
Epiroc
7D
2.0%
1Y
9.0%

Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected

Dec 02
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VSURE
€14.00
Verisure
7D
-3.3%
1Y
n/a