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Swedish (OMX) Market Analysis & Valuation

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies800
  • 7D1.4%
  • 3M3.2%
  • 1Y3.9%
  • YTD4.3%

The market is up 1.4% over the last week, with the Financials sector leading the way, up 2.1%. In the last year, the market has climbed 3.9%. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 15 Nov 2025SEK 11.5tSEK 5.8tSEK 544.4b22x21.2x2x
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
Tue, 22 Nov 2022SEK 9.3tSEK 5.1tSEK 512.1b16.3x18.1x1.8x
Price to Earnings Ratio

18.1x


Total Market Cap: SEK 9.3tTotal Earnings: SEK 512.1bTotal 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 2.1% 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 Market1.37%
Utilities7.11%
Consumer Discretionary4.04%
Healthcare2.37%
Materials2.34%
Financials2.14%
Industrials1.11%
Consumer Staples1.04%
Tech-0.41%
Real Estate-0.57%
Telecom-1.99%
Energy-3.35%
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 30.1% 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 3.2% 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
INVE A InvestorSEK 317.602.3%
+SEK 21.4b		7.7%PE13.8xFinancials
EQT EQTSEK 335.005.0%
+SEK 18.6b		14.0%PE42.5xFinancials
HM B H & M Hennes & MauritzSEK 181.905.3%
+SEK 14.6b		16.8%PE27xConsumer Discretionary
VOLV B AB VolvoSEK 266.502.1%
+SEK 11.0b		-2.2%PE15.2xIndustrials
CAMX CamurusSEK 643.5018.1%
+SEK 5.9b		12.9%PE49.1xHealthcare
See more

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CAMX
SEK 643.50
Camurus
7D
18.1%
1Y
12.9%
EQT
SEK 335.00
EQT
7D
5.0%
1Y
14.0%

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ESSITY B
SEK 261.50
Essity
7D
-2.2%
1Y
-12.0%
SOBI
SEK 340.20
Swedish Orphan Biovitrum
7D
4.4%
1Y
14.1%
SKF B
SEK 239.10
AB SKF
7D
-6.3%
1Y
16.2%
HEXA B
SEK 112.60
Hexagon
7D
-1.9%
1Y
19.8%

HEXA B: Recent Rating Upgrades And Downgrades Will Define Near-Term Direction

Hexagon’s analyst price target has increased from SEK 116.68 to SEK 121.94. This reflects analysts’ improved outlook on profit margins and valuation following several upward price target revisions and ratings changes.
TEL2 B
SEK 146.75
Tele2
7D
-3.4%
1Y
31.9%
VOLCAR B
SEK 33.28
Volvo Car AB (publ.)
7D
-2.2%
1Y
41.5%
HM B
SEK 181.90
H & M Hennes & Mauritz
7D
5.3%
1Y
16.8%

HM B: Margin Pressure Will Likely Hinder Durable Share Price Recovery

Narrative Update: H & M Hennes & Mauritz Analyst Price Target Analysts have modestly increased their price targets for H & M Hennes & Mauritz. New valuations raise the fair value estimate by approximately SEK 2 to SEK 149.78, reflecting updated profit margin forecasts and adjustments in discount rates.
LATO B
SEK 232.60
Investment AB Latour
7D
3.3%
1Y
-15.9%
TELIA
SEK 37.07
Telia Company
7D
-2.7%
1Y
21.1%

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NIBE B
SEK 32.88
NIBE Industrier
7D
-9.2%
1Y
-34.4%

NIBE B: Margin Upgrades And Positive Outlook Signal Renewed Upside Potential

Analysts have slightly lowered their price target for NIBE Industrier from SEK 45.89 to SEK 45.19. This revision is due to updated views on growth prospects, even though there was a recent upgrade in the stock rating based on improved margin expectations and a positive outlook from research firms.
VOLV B
SEK 266.50
AB Volvo
7D
2.1%
1Y
-2.2%

VOLV B: Margin Improvements Will Drive Upside Despite Tariff Headwinds

AB Volvo’s analyst price target was reduced from SEK 294.88 to SEK 289.50, as analysts pointed to softer anticipated revenue growth and persistent margin concerns. Analyst Commentary Recent street research surrounding AB Volvo reflects a mix of optimistic and cautionary perspectives as analysts adjust price targets and ratings, citing evolving business dynamics.
INVE A
SEK 317.60
Investor
7D
2.3%
1Y
7.7%
SAAB B
SEK 525.40
Saab
7D
1.9%
1Y
123.6%

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Saab's fair value price target has been raised from SEK 473 to SEK 481. Analysts cite upgraded revenue growth expectations, although they continue to note ongoing concerns around valuation and scale.
SAGA A
SEK 204.00
AB Sagax
7D
-3.3%
1Y
-16.0%

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