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Swedish (OMX) Financials Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies71
  • 7D-0.09%
  • 3M8.4%
  • 1Y24.0%
  • YTD5.0%

In the last week, the Financials industry is flat overall, with EQT standing out by going down 8.8%. The past year has been better, since the industry has gained 24% in that time. In the next few years, earnings are forecast to decline by 7.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026SEK 3.2tSEK 640.1bSEK 355.0b12.6x9.1x5.1x
Sat, 23 May 2026SEK 3.2tSEK 633.7bSEK 354.6b12x9.1x5.1x
Mon, 20 Apr 2026SEK 3.2tSEK 598.6bSEK 319.8b13.8x10.1x5.4x
Wed, 18 Mar 2026SEK 3.1tSEK 595.3bSEK 317.7b12.6x9.7x5.2x
Fri, 13 Feb 2026SEK 3.1tSEK 602.9bSEK 314.7b12.9x10x5.2x
Sun, 11 Jan 2026SEK 3.2tSEK 500.4bSEK 208.4b16.5x15.2x6.3x
Tue, 09 Dec 2025SEK 3.0tSEK 500.2bSEK 207.9b17.1x14.3x6x
Thu, 06 Nov 2025SEK 2.9tSEK 500.9bSEK 207.1b17.4x14.1x5.8x
Sat, 04 Oct 2025SEK 2.9tSEK 460.4bSEK 163.2b16.5x17.6x6.2x
Mon, 01 Sep 2025SEK 2.7tSEK 455.4bSEK 160.1b15.6x17.1x6x
Wed, 30 Jul 2025SEK 2.7tSEK 452.9bSEK 157.6b16.8x17.3x6x
Fri, 27 Jun 2025SEK 2.6tSEK 466.6bSEK 169.7b15.9x15.3x5.6x
Sun, 25 May 2025SEK 2.6tSEK 464.7bSEK 171.1b15.2x15.1x5.6x
Tue, 22 Apr 2025SEK 2.4tSEK 545.3bSEK 250.1b12.5x9.6x4.4x
Thu, 20 Mar 2025SEK 2.8tSEK 552.7bSEK 258.6b12.4x10.9x5.1x
Sat, 15 Feb 2025SEK 2.8tSEK 554.8bSEK 259.7b12x11x5.1x
Mon, 13 Jan 2025SEK 2.6tSEK 656.4bSEK 366.9b8.6x7.1x4x
Wed, 11 Dec 2024SEK 2.6tSEK 656.2bSEK 366.9b8.6x7.1x4x
Fri, 08 Nov 2024SEK 2.6tSEK 650.7bSEK 361.3b8.3x7.2x4x
Sun, 06 Oct 2024SEK 3.0tSEK 748.8bSEK 372.9b8.7x8.1x4x
Tue, 03 Sep 2024SEK 3.1tSEK 748.0bSEK 372.0b8.6x8.2x4.1x
Thu, 01 Aug 2024SEK 3.1tSEK 751.9bSEK 367.8b9.2x8.4x4.1x
Sat, 29 Jun 2024SEK 2.9tSEK 732.5bSEK 353.1b13x8.3x4x
Mon, 27 May 2024SEK 3.0tSEK 734.6bSEK 352.6b16.4x8.4x4x
Wed, 24 Apr 2024SEK 2.9tSEK 730.0bSEK 368.3b12x7.8x3.9x
Fri, 22 Mar 2024SEK 3.0tSEK 686.5bSEK 327.1b11.7x9.1x4.3x
Sun, 18 Feb 2024SEK 2.8tSEK 684.2bSEK 326.9b10.2x8.6x4.1x
Tue, 16 Jan 2024SEK 2.7tSEK 672.2bSEK 332.6b10.7x8x3.9x
Thu, 14 Dec 2023SEK 2.6tSEK 671.9bSEK 332.5b9x7.7x3.8x
Sat, 11 Nov 2023SEK 2.4tSEK 676.6bSEK 334.1b8.7x7.1x3.5x
Mon, 09 Oct 2023SEK 2.4tSEK 674.2bSEK 337.8b9x7.1x3.6x
Wed, 06 Sep 2023SEK 2.4tSEK 672.9bSEK 335.5b9.2x7.2x3.6x
Fri, 04 Aug 2023SEK 2.4tSEK 665.9bSEK 330.2b10.1x7.2x3.6x
Sun, 02 Jul 2023SEK 2.3tSEK 515.7bSEK 193.7b9.5x12x4.5x
Price to Earnings Ratio

12x


Total Market Cap: SEK 2.3tTotal Earnings: SEK 193.7bTotal Revenue: SEK 515.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Financials Sector Price to Earnings3Y Average 10.3x202420252026
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 9.1x which is lower than its 3-year average PE of 10.3x.
  • 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 22% per year over the last three years.
  • Revenues for these companies have grown 7.5% 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 Market-0.89%
Financials-0.094%
Banks1.46%
Diversified Financial0.77%
Consumer Finance0.36%
Mortgage Finance0%0
Insurance-0.80%
Capital Markets-5.39%
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 25.0%, which is higher than its past year's earnings growth of 9.9% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 9.9% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 32% 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 386.401.6%
+SEK 18.7b		39.3%PE6.2x
INDU A AB IndustrivärdenSEK 528.500.9%
+SEK 1.9b		54.7%PE5.7x
LUND B L E LundbergföretagenSEK 552.000.8%
+SEK 1.1b		18.1%PE10x
SAVE NordnetSEK 352.801.0%
+SEK 844.8m		37.9%PE28.1x
HOFI Hoist FinanceSEK 169.503.0%
+SEK 428.4m		108.2%PE13.2x

Latest News

SWED A
SEK 353.00
Swedbank
7D
0.09%
1Y
42.5%
INVE A
SEK 386.40
Investor
7D
1.6%
1Y
39.3%
SAVE
SEK 352.80
Nordnet
7D
1.0%
1Y
37.9%
BURE
SEK 251.80
Bure Equity
7D
-5.3%
1Y
-10.4%
SEB A
SEK 190.15
Skandinaviska Enskilda Banken
7D
-1.6%
1Y
15.8%
Narrative Update • Jun 19

SEB A: Future Returns Will Hinge On Execution And Planned Share Repurchases

The analyst price target for Skandinaviska Enskilda Banken has been adjusted slightly higher to SEK 193.06 from SEK 190.63. Analysts cited updated assumptions on discount rates, revenue growth, profit margins and future P/E in light of recent mixed target changes from Citi, Morgan Stanley, Deutsche Bank, Jefferies and Barclays.
EQT
SEK 261.90
EQT
7D
-8.3%
1Y
-10.8%
Narrative Update • Jun 18

EQT: Future Upside Will Depend On Infrastructure Fundraising And Fundraising Execution

The analyst price target for EQT stock has been adjusted to SEK 418 from SEK 415, as analysts factor in updated assumptions on fair value, discount rates, growth, margins and future P/E following recent mixed research views that include both an upgrade and a downgrade. Analyst Commentary Recent research on EQT reflects a split view, with the upgraded SEK 355 price target sitting alongside a separate downgrade from another large bank.
HOFI
SEK 169.50
Hoist Finance
7D
3.0%
1Y
108.2%
AZA
SEK 377.50
Avanza Bank Holding
7D
-1.0%
1Y
18.0%
Narrative Update • Jun 14

AZA: Execution Risk Around Discount And Margin Assumptions Will Pressure Upside

Analysts have raised their price target on Avanza Bank Holding to SEK 420 from SEK 340, citing its status as a preferred sector platform and updated assumptions around discount rate, revenue growth and profit margin, even as another firm lowered its target by SEK 28. Analyst Commentary Recent research highlights a mixed backdrop for Avanza Bank Holding.
NOBA
SEK 77.70
NOBA Bank Group
7D
-2.4%
1Y
n/a
New Narrative • Jun 13

Secured Lending Expansion And Lower Credit Losses Will Support Long-Term Upside

Catalysts About NOBA Bank Group NOBA Bank Group is a Nordic-focused lender with private loans, credit cards and secured lending across Sweden, Norway, Denmark and Germany. What are the underlying business or industry changes driving this perspective?
NORION
SEK 61.20
Norion Bank
7D
1.5%
1Y
29.7%
KINV B
SEK 52.20
Kinnevik
7D
-5.9%
1Y
-33.8%
HILB B
SEK 4.24
Hilbert Group
7D
11.1%
1Y
-54.0%
LUND B
SEK 552.00
L E Lundbergföretagen
7D
0.8%
1Y
18.1%
INDU A
SEK 528.50
AB Industrivärden
7D
0.9%
1Y
54.7%
CRED A
SEK 75.95
Creades
7D
-5.1%
1Y
3.1%
ROKO B
SEK 1,878.00
Röko
7D
-2.4%
1Y
-17.6%