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Swedish (OMX) Market Analysis & Valuation

UpdatedDec 29, 2025
DataAggregated Company Financials
Companies796
  • 7D0.4%
  • 3M4.7%
  • 1Y6.5%
  • YTD5.0%

The market has stayed flat over the 7 days. As for the longer term, the market has risen 6.5% 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
Mon, 29 Dec 2025SEK 11.7tSEK 5.8tSEK 547.1b21.8x21.3x2x
Wed, 26 Nov 2025SEK 11.4tSEK 5.8tSEK 546.5b22x20.8x2x
Fri, 24 Oct 2025SEK 11.6tSEK 5.8tSEK 535.3b23.1x21.6x2x
Sun, 21 Sep 2025SEK 11.1tSEK 5.8tSEK 480.6b23.1x23.1x1.9x
Tue, 19 Aug 2025SEK 11.0tSEK 5.7tSEK 473.1b23.4x23.3x1.9x
Thu, 17 Jul 2025SEK 11.0tSEK 5.8tSEK 519.5b23.2x21.1x1.9x
Sat, 14 Jun 2025SEK 10.6tSEK 5.8tSEK 496.7b22.4x21.4x1.8x
Mon, 12 May 2025SEK 10.7tSEK 5.8tSEK 469.4b21.9x22.8x1.8x
Wed, 09 Apr 2025SEK 9.7tSEK 5.9tSEK 536.5b20.3x18.1x1.6x
Fri, 07 Mar 2025SEK 11.5tSEK 5.9tSEK 554.8b22.1x20.8x2x
Sun, 02 Feb 2025SEK 11.6tSEK 5.9tSEK 512.3b23.6x22.6x2x
Tue, 31 Dec 2024SEK 10.8tSEK 6.0tSEK 587.9b23.2x18.3x1.8x
Thu, 28 Nov 2024SEK 10.7tSEK 6.0tSEK 586.7b22x18.2x1.8x
Sat, 26 Oct 2024SEK 11.2tSEK 6.0tSEK 572.5b23.1x19.5x1.9x
Mon, 23 Sep 2024SEK 11.7tSEK 6.1tSEK 554.2b23.7x21.2x1.9x
Wed, 21 Aug 2024SEK 11.4tSEK 6.1tSEK 547.4b22.6x20.9x1.9x
Fri, 19 Jul 2024SEK 11.8tSEK 6.1tSEK 522.4b23.8x22.5x1.9x
Sun, 16 Jun 2024SEK 11.4tSEK 6.0tSEK 511.4b22.9x22.2x1.9x
Tue, 14 May 2024SEK 11.7tSEK 6.1tSEK 552.2b23x21.1x1.9x
Thu, 11 Apr 2024SEK 11.2tSEK 6.0tSEK 521.8b22x21.5x1.9x
Sat, 09 Mar 2024SEK 11.1tSEK 6.0tSEK 513.2b20.6x21.6x1.8x
Mon, 05 Feb 2024SEK 10.4tSEK 6.0tSEK 502.0b21.5x20.8x1.7x
Wed, 03 Jan 2024SEK 10.6tSEK 6.0tSEK 441.3b22.4x23.9x1.7x
Fri, 01 Dec 2023SEK 9.7tSEK 6.0tSEK 443.1b20.2x22x1.6x
Sun, 29 Oct 2023SEK 8.8tSEK 6.0tSEK 450.8b17.5x19.5x1.5x
Tue, 26 Sep 2023SEK 9.3tSEK 6.0tSEK 487.6b17.8x19x1.6x
Thu, 24 Aug 2023SEK 9.3tSEK 6.0tSEK 490.0b18.6x19x1.6x
Sat, 22 Jul 2023SEK 9.7tSEK 5.9tSEK 486.4b19.3x20x1.6x
Mon, 19 Jun 2023SEK 10.1tSEK 5.7tSEK 411.7b19.3x24.6x1.8x
Wed, 17 May 2023SEK 9.9tSEK 5.6tSEK 403.8b19.6x24.6x1.8x
Fri, 14 Apr 2023SEK 9.2tSEK 5.3tSEK 412.0b19.5x22.2x1.7x
Sun, 12 Mar 2023SEK 8.9tSEK 5.3tSEK 404.1b18.9x22.1x1.7x
Tue, 07 Feb 2023SEK 9.3tSEK 5.2tSEK 472.5b17.7x19.8x1.8x
Thu, 05 Jan 2023SEK 9.3tSEK 5.1tSEK 505.1b16.2x18.3x1.8x
Price to Earnings Ratio

18.3x


Total Market Cap: SEK 9.3tTotal Earnings: SEK 505.1bTotal 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 4.5% 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 Market0.44%
Telecom0.90%
Financials0.83%
Healthcare0.53%
Real Estate0.47%
Industrials0.41%
Energy0.41%
Consumer Discretionary0.14%
Materials0.12%
Tech-0.12%
Utilities-0.54%
Consumer Staples-0.81%
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 29.9% 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 3.5% 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 529.203.2%
+SEK 8.7b		126.4%PE54.8xIndustrials
EQT EQTSEK 356.001.2%
+SEK 4.9b		14.8%PE46.1xFinancials
INVE A InvestorSEK 323.500.5%
+SEK 4.6b		10.7%PE14.1xFinancials
SWED A SwedbankSEK 318.701.0%
+SEK 3.4b		46.5%PB1.6xFinancials
ATCO A Atlas CopcoSEK 164.950.3%
+SEK 2.2b		-2.3%PE29.1xIndustrials
See more

Market Insights

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Latest News

VOLV B
SEK 291.90
AB Volvo
7D
-0.3%
1Y
8.7%

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

Dec 28
Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist
SAND
SEK 296.30
Sandvik
7D
-0.3%
1Y
49.4%

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.
VOLCAR B
SEK 29.70
Volvo Car AB (publ.)
7D
-1.7%
1Y
23.9%

VOLCAR B: Future EV Margin Pressures Will Temper Moderately Improved Earnings Outlook

Analysts have nudged their price target on Volvo Car AB (publ.) higher to approximately SEK 28.27 from about SEK 26.82, citing a somewhat richer future earnings multiple that offsets softer assumptions for revenue growth and profit margins. Analyst Commentary Bullish analysts interpret the higher price target as a signal that the market is becoming more comfortable with Volvo Car AB's earnings trajectory, even if top line expectations remain conservative.
ESSITY B
SEK 263.30
Essity
7D
-0.7%
1Y
-11.3%

ESSITY B: Margin Discipline And Cost Savings Will Drive Future Upside Potential

Analysts have made only modest adjustments to their SEK price targets for Essity, with a small net decrease as updated post Q3 models reflect slightly softer long term revenue growth and margins, partially offset by expectations for a marginally higher future P/E multiple. Analyst Commentary Bullish analysts continue to view Essity's Q3 delivery as broadly supportive of the equity story, with updated models signaling confidence in the company’s ability to defend margins and gradually reaccelerate growth.
ATCO A
SEK 164.95
Atlas Copco
7D
0.3%
1Y
-2.3%

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

Dec 26
What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?
SHB A
SEK 133.40
Svenska Handelsbanken
7D
0.7%
1Y
16.8%

SHB A: Future Returns Will Rely On Margins As Revenue Expectations Cool

Svenska Handelsbanken's analyst price target has inched higher to SEK 128 from SEK 122, as analysts point to slightly firmer profitability expectations that more than offset tempered revenue growth assumptions. Analyst Commentary Recent price target increases reflect a generally balanced stance among the analyst community, with modest upgrades aligning with incremental improvements in profitability expectations rather than a major shift in growth outlook.
ERIC B
SEK 89.74
Telefonaktiebolaget LM Ericsson
7D
-0.8%
1Y
-0.2%

ERIC B Will Benefit From Emerging European Shift Away From Chinese 5G Vendors

The analyst fair value estimate for Telefonaktiebolaget LM Ericsson has been raised from SEK 99.00 to SEK 106.00, as analysts factor in higher sector price targets and modestly improved long term earnings visibility, despite tempered expectations for revenue growth and profit margins. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson has turned incrementally more constructive, with several bullish analysts lifting their price targets in response to improving fundamentals and clearer earnings visibility.
HEXA B
SEK 106.95
Hexagon
7D
-0.4%
1Y
1.3%

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 356.00
EQT
7D
1.2%
1Y
14.8%
LIFCO B
SEK 349.40
Lifco
7D
-0.7%
1Y
9.0%
SWED A
SEK 318.70
Swedbank
7D
1.0%
1Y
46.5%

SWED A: Future Returns Will Reflect Margin Resilience Amid Ongoing Legal And Regulatory Risks

Swedbank's analyst price target has edged higher to about SEK 290 from roughly SEK 285, as analysts factor in slightly stronger profit margins, modestly improved long term growth expectations, and a marginally lower perceived risk profile despite mixed recent target revisions on the Street. Analyst Commentary Street commentary on Swedbank reflects a fairly balanced view, with modest upward revisions to price targets offset by lingering concerns over relative valuation and growth quality.
SAAB B
SEK 529.20
Saab
7D
3.2%
1Y
126.4%

SAAB B: Future Defense Backlog And Execution Risks Will Shape Returns Ahead

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 38.93
Telia Company
7D
1.0%
1Y
26.9%

TELIA: Cost Discipline And Efficiency Will Drive Stronger Profitability Ahead

Analysts have raised their fair value estimate for Telia Company from SEK 45.24 to SEK 48.00, citing recent price target increases and expectations that disciplined capital allocation and cost efficiency will continue to support improving profitability, even with slightly weaker revenue growth assumptions. Analyst Commentary Recent Street research indicates that bullish analysts are incrementally more confident in Telia Company's ability to execute on its strategic priorities, reflected in a series of upward price target revisions.
INVE A
SEK 323.50
Investor
7D
0.5%
1Y
10.7%
EPI A
SEK 205.70
Epiroc
7D
-0.6%
1Y
6.8%

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

Dec 02
Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected
VSURE
€14.47
Verisure
7D
1.1%
1Y
n/a