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Swedish (OMX) Financials Sector Analysis

UpdatedAug 09, 2026
DataAggregated Company Financials
Companies67
  • 7D2.6%
  • 3M14.9%
  • 1Y29.4%
  • YTD16.0%

In the last week, the Financials industry is up 2.6%, with Investor up 3.0%. This means that the industry has gained 29% over the past year. Looking forward, earnings are forecast to decline by 12% per year.

Sector Valuation and Performance

Has the Swedish Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Aug 2026SEK 3.5tSEK 733.8bSEK 451.8b12.4x7.7x4.8x
Tue, 07 Jul 2026SEK 3.4tSEK 640.3bSEK 355.0b13.2x9.5x5.2x
Thu, 04 Jun 2026SEK 3.1tSEK 637.9bSEK 354.5b11.6x8.9x4.9x
Sat, 02 May 2026SEK 3.1tSEK 632.0bSEK 352.5b12.3x8.8x4.9x
Mon, 30 Mar 2026SEK 2.9tSEK 595.7bSEK 317.0b12.2x9.2x4.9x
Wed, 25 Feb 2026SEK 3.2tSEK 593.9bSEK 317.6b12.1x9.9x5.3x
Fri, 23 Jan 2026SEK 3.2tSEK 501.2bSEK 208.9b16.5x15.4x6.4x
Sun, 21 Dec 2025SEK 3.0tSEK 500.0bSEK 208.3b15.9x14.6x6.1x
Tue, 18 Nov 2025SEK 2.9tSEK 501.4bSEK 207.5b16.7x14.1x5.8x
Thu, 16 Oct 2025SEK 2.9tSEK 459.4bSEK 162.1b16.4x17.8x6.3x
Sat, 13 Sep 2025SEK 2.7tSEK 453.6bSEK 160.2b16.1x17x6x
Mon, 11 Aug 2025SEK 2.7tSEK 452.9bSEK 157.6b16.7x17.4x6.1x
Wed, 09 Jul 2025SEK 2.7tSEK 475.0bSEK 178.9b16x15x5.7x
Fri, 06 Jun 2025SEK 2.6tSEK 463.9bSEK 170.0b15.5x15.4x5.6x
Sun, 04 May 2025SEK 2.6tSEK 470.7bSEK 177.2b14.9x14.6x5.5x
Tue, 01 Apr 2025SEK 2.6tSEK 553.5bSEK 258.5b12.3x10.1x4.7x
Thu, 27 Feb 2025SEK 2.9tSEK 546.3bSEK 258.3b12.1x11.1x5.2x
Sat, 25 Jan 2025SEK 2.8tSEK 573.9bSEK 281.1b9.1x9.9x4.9x
Mon, 23 Dec 2024SEK 2.5tSEK 656.1bSEK 366.7b8.5x6.8x3.8x
Wed, 20 Nov 2024SEK 2.5tSEK 654.3bSEK 364.9b8.1x6.9x3.8x
Fri, 18 Oct 2024SEK 2.6tSEK 648.9bSEK 348.8b8.6x7.4x4x
Sun, 15 Sep 2024SEK 3.0tSEK 748.1bSEK 372.9b8.6x8.1x4x
Tue, 13 Aug 2024SEK 2.9tSEK 751.0bSEK 373.2b8.6x7.7x3.8x
Thu, 11 Jul 2024SEK 2.9tSEK 724.9bSEK 344.8b12.9x8.5x4.1x
Sat, 08 Jun 2024SEK 3.0tSEK 733.0bSEK 353.3b14.4x8.4x4x
Mon, 06 May 2024SEK 2.8tSEK 734.4bSEK 369.5b12.1x7.7x3.9x
Wed, 03 Apr 2024SEK 2.9tSEK 689.1bSEK 327.9b11.5x8.8x4.2x
Fri, 01 Mar 2024SEK 2.9tSEK 681.9bSEK 326.3b11.7x8.9x4.2x
Sun, 28 Jan 2024SEK 2.8tSEK 689.9bSEK 347.3b9.8x8x4x
Tue, 26 Dec 2023SEK 2.7tSEK 668.5bSEK 331.0b9.9x8x4x
Thu, 23 Nov 2023SEK 2.5tSEK 673.5bSEK 332.8b9.1x7.4x3.6x
Sat, 21 Oct 2023SEK 2.4tSEK 681.8bSEK 343.6b8.7x6.9x3.5x
Mon, 18 Sep 2023SEK 2.4tSEK 674.2bSEK 336.0b9.2x7.2x3.6x
Wed, 16 Aug 2023SEK 2.4tSEK 667.6bSEK 330.9b8.8x7.2x3.6x
Price to Earnings Ratio

7.2x


Total Market Cap: SEK 2.4tTotal Earnings: SEK 330.9bTotal Revenue: SEK 667.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Financials Sector Price to Earnings3Y Average 10.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 7.7x which is lower than its 3-year average PE of 10.2x.
  • The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 3.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Swedish Financials sector?

SE Market2.04%
Financials2.62%
Capital Markets6.17%
Diversified Financial2.74%
Banks0.98%
Mortgage Finance0%0
Consumer Finance-0.44%
Insurance-1.60%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 23.8%, which is lower than the prior year's growth of 33.9% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 9.8x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 24% over the next 5 years.
  • However this is lower than its past earnings growth rate of 34% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 42% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
INVE A InvestorSEK 416.103.0%
+SEK 37.1b		44.2%PE4.9x
EQT EQTSEK 347.707.4%
+SEK 28.1b		3.3%PE35.5x
SWED A SwedbankSEK 384.400.9%
+SEK 3.8b		43.8%PB2.1x
SHB A Svenska HandelsbankenSEK 147.301.1%
+SEK 3.3b		21.1%PB1.6x
INDU A AB IndustrivärdenSEK 556.501.4%
+SEK 3.2b		51.1%PE3.8x

Latest News

MANG
SEK 1,660.00
Mangold Fondkommission
7D
-4.0%
1Y
-21.0%
LINC
SEK 73.50
Linc
7D
-0.8%
1Y
-8.5%
HOFI
SEK 214.40
Hoist Finance
7D
-0.7%
1Y
108.4%
Narrative Update • Aug 06

HOFI: Future Returns Will Depend On Framework Clarity And Savings Franchise Potential

Analysts have raised their price target for Hoist Finance from SEK 186 to about SEK 211. They cite updated fair value estimates, a slightly lower discount rate, modestly adjusted revenue growth and profit margin assumptions, and a higher future P/E multiple.
EQT
SEK 347.70
EQT
7D
7.4%
1Y
3.3%
SWED A
SEK 384.40
Swedbank
7D
0.9%
1Y
43.8%
Narrative Update • Aug 05

SWED A: Higher Baltic Rates And Cost Cuts Will Shape Earnings Outlook

Swedbank's analyst price target has been updated from SEK 390 to about SEK 425, with analysts pointing to refinements in discount rate assumptions, revenue growth forecasts, profit margins and P/E expectations. Analyst Commentary Recent research on Swedbank shows a cluster of upward price target revisions and a key rating upgrade that together signal improving confidence in the stock.
AJA B
SEK 53.50
Byggmästare Anders J Ahlström Holding
7D
-2.7%
1Y
-14.4%
SAVE
SEK 356.80
Nordnet
7D
-2.2%
1Y
31.8%
AZA
SEK 402.20
Avanza Bank Holding
7D
2.8%
1Y
12.1%
Narrative Update • Jul 26

AZA: Mixed Views On Premium P/E And Denmark Move Will Shape Pricing Power

Analysts have lifted their price target for Avanza Bank Holding to SEK 414.60 from about SEK 400.86, citing updated assumptions on profitability, a slightly adjusted discount rate, a lower future P/E of about 21.7, and recent Street research that now highlights Avanza as a preferred platform in its sector. Analyst Commentary Recent Street research on Avanza Bank Holding focuses on how current valuation connects to execution risks and potential growth in its core platform business.
LUND B
SEK 583.50
L E Lundbergföretagen
7D
2.1%
1Y
20.0%
Analysis Article • Jul 25

Here's Why We Think L E Lundbergföretagen (STO:LUND B) Is Well Worth Watching

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
CAT B
SEK 19.84
Catella
7D
-1.0%
1Y
-34.1%
Narrative Update • Jul 24

CAT B: Future Returns Will Rely On Higher Margins And Lower P E

Analysts have reduced their price target on Catella from SEK 33 to SEK 21, citing updated assumptions around revenue growth, profit margins and a lower future P/E multiple in their revised valuation work. What’s in the News for Catella No recent Catella specific news items were identified in the provided primary news sources.
SEB A
SEK 224.20
Skandinaviska Enskilda Banken
7D
0.4%
1Y
27.9%
Narrative Update • Jul 22

SEB A: Future Returns Will Reflect Execution And Disciplined Share Repurchases

The analyst fair value estimate for Skandinaviska Enskilda Banken has been raised from SEK 197.12 to SEK 205.35, with analysts pointing to a series of higher SEK 204 to SEK 230 price targets and slight adjustments to growth, margin and P/E assumptions as key drivers. Analyst Commentary Recent Street research on Skandinaviska Enskilda Banken shows a mix of higher and lower price targets within a relatively tight SEK 170 to SEK 230 range.
SHB A
SEK 147.30
Svenska Handelsbanken
7D
1.1%
1Y
21.1%
SFAB
SEK 104.20
Solid Försäkringsaktiebolag
7D
-2.1%
1Y
40.2%
INVE A
SEK 416.10
Investor
7D
3.0%
1Y
44.2%
INDU A
SEK 556.50
AB Industrivärden
7D
1.4%
1Y
51.1%
CASE
SEK 21.00
Case Group
7D
-3.7%
1Y
-3.7%