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Swedish (OMX) Capital Markets Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies49
  • 7D-4.7%
  • 3M5.8%
  • 1Y2.6%
  • YTD-12.5%

Over the last 7 days, the Capital Markets industry has dropped 2.8%, driven by a pullback from EQT of 7.5%. This takes the industry's 12 month performance to a gain of 4.9%. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

Has the Swedish Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026SEK 525.6bSEK 81.9bSEK 14.5b21.1x36.4x6.4x
Thu, 21 May 2026SEK 551.9bSEK 75.8bSEK 14.6b18.5x37.7x7.3x
Sat, 18 Apr 2026SEK 586.3bSEK 75.0bSEK 13.7b19.2x42.9x7.8x
Mon, 16 Mar 2026SEK 511.3bSEK 76.7bSEK 15.2b16.8x33.7x6.7x
Wed, 11 Feb 2026SEK 552.0bSEK 88.9bSEK 16.6b18.4x33.3x6.2x
Fri, 09 Jan 2026SEK 608.2bSEK 89.5bSEK 17.9b20.8x34x6.8x
Sun, 07 Dec 2025SEK 583.5bSEK 90.0bSEK 18.0b21.9x32.4x6.5x
Tue, 04 Nov 2025SEK 594.7bSEK 89.1bSEK 17.9b24.9x33.3x6.7x
Thu, 02 Oct 2025SEK 578.3bSEK 90.3bSEK 18.0b23.3x32.1x6.4x
Sat, 30 Aug 2025SEK 603.0bSEK 90.9bSEK 17.9b23.5x33.7x6.6x
Mon, 28 Jul 2025SEK 622.8bSEK 90.7bSEK 17.6b23.9x35.4x6.9x
Wed, 25 Jun 2025SEK 550.2bSEK 89.3bSEK 16.3b21.2x33.7x6.2x
Fri, 23 May 2025SEK 539.4bSEK 88.5bSEK 16.3b21.5x33.1x6.1x
Sun, 20 Apr 2025SEK 488.9bSEK 94.6bSEK 23.1b13.6x21.1x5.2x
Tue, 18 Mar 2025SEK 581.1bSEK 94.5bSEK 23.0b17.8x25.2x6.1x
Thu, 13 Feb 2025SEK 610.8bSEK 92.2bSEK 20.7b22.8x29.6x6.6x
Sat, 11 Jan 2025SEK 539.2bSEK 87.1bSEK 16.0b20x33.8x6.2x
Mon, 09 Dec 2024SEK 552.0bSEK 87.2bSEK 15.9b19.4x34.7x6.3x
Wed, 06 Nov 2024SEK 514.8bSEK 84.0bSEK 12.3b14x41.8x6.1x
Fri, 04 Oct 2024SEK 549.2bSEK 82.4b-SEK 1,493,581,788.6618.2x-367.7x6.7x
Sun, 01 Sep 2024SEK 565.9bSEK 82.3b-SEK 1,369,808,205.2918.4x-413.1x6.9x
Tue, 30 Jul 2024SEK 550.4bSEK 82.3b-SEK 8,361,691,235.0621x-65.8x6.7x
Thu, 27 Jun 2024SEK 529.5bSEK 79.6b-SEK 10,400,140,596.8428.6x-50.9x6.7x
Sat, 25 May 2024SEK 570.0bSEK 80.1b-SEK 10,889,050,213.9622.4x-52.4x7.1x
Mon, 22 Apr 2024SEK 486.7bSEK 79.9bSEK 6.0b17.7x81x6.1x
Wed, 20 Mar 2024SEK 553.9bSEK 79.8bSEK 6.2b15.8x89.8x6.9x
Fri, 16 Feb 2024SEK 475.1bSEK 79.8bSEK 5.7b17.1x83x6x
Sun, 14 Jan 2024SEK 454.1bSEK 75.8bSEK 17.4b17.8x26.2x6x
Tue, 12 Dec 2023SEK 430.9bSEK 75.8bSEK 17.4b17.9x24.7x5.7x
Thu, 09 Nov 2023SEK 402.2bSEK 75.5bSEK 16.4b16.1x24.5x5.3x
Sat, 07 Oct 2023SEK 379.0bSEK 73.4bSEK 15.2b16.1x24.9x5.2x
Mon, 04 Sep 2023SEK 388.9bSEK 72.9bSEK 15.4b17.1x25.3x5.3x
Wed, 02 Aug 2023SEK 406.1bSEK 69.4bSEK 8.6b19x47.3x5.9x
Fri, 30 Jun 2023SEK 341.1bSEK 64.0bSEK 10.6b19.5x32.1x5.3x
Price to Earnings Ratio

32.1x


Total Market Cap: SEK 341.1bTotal Earnings: SEK 10.6bTotal Revenue: SEK 64.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Capital Markets Industry Price to Earnings3Y Average -3.2x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 36.9x which is higher than its 3-year average PE of -3.2x.
  • The industry is trading close to its 3-year average PS ratio of 6.3x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 8.6% 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 industry?

SE Market0.19%
Financials1.34%
Capital Markets-4.69%
Financial Exchanges and Data33.41%
Investment Banking and Brokerage0.44%
Asset Management-6.50%
Industry PE
  • Investors are most optimistic about the Asset Management industry, which is trading close to its 3-year average PE ratio of 40.2x.
    • Analysts are expecting annual earnings growth of 31.4%, which is lower than the prior year's growth of 57.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 31% over the next 5 years.
  • However this is lower than its past earnings growth rate of 58% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 10% 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
AZA Avanza Bank HoldingSEK 386.800.8%
+SEK 489.3m		23.9%PE23.1x
SAVE NordnetSEK 355.600.2%
+SEK 149.1m		40.8%PE28.4x
SPGR Spotlight GroupSEK 31.8092.7%
+SEK 92.4m		57.4%PE93.1x
K33 K33SEK 0.02623.8%
+SEK 74.6m		-82.1%PS0.2x
NTECH Stockholm Nordtech GroupSEK 60.001.7%
+SEK 50.1m		n/aPS4.7x

Latest News

SAVE
SEK 355.60
Nordnet
7D
0.2%
1Y
40.8%
BURE
SEK 258.20
Bure Equity
7D
-6.3%
1Y
-6.0%
SPGR
SEK 31.80
Spotlight Group
7D
92.7%
1Y
57.4%
EQT
SEK 268.30
EQT
7D
-7.5%
1Y
-3.1%
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.
AZA
SEK 386.80
Avanza Bank Holding
7D
0.8%
1Y
23.9%
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.
TANGEN B
SEK 74.00
Tången Industrikapital
7D
-4.1%
1Y
n/a
NTECH
SEK 60.00
Stockholm Nordtech Group
7D
1.7%
1Y
n/a
TRAC B
SEK 236.00
AB Traction
7D
0.4%
1Y
-11.3%
RATO B
SEK 32.98
Ratos
7D
-2.8%
1Y
-15.9%
Narrative Update • Jun 04

RATO B: Margin Execution Will Support Future Upside Despite Recent Cautious Commentary

Analysts have maintained their SEK 44.0 price target for Ratos, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E. These changes follow recent research that has become more cautious on the stock.
MANG
SEK 1,830.00
Mangold Fondkommission
7D
2.2%
1Y
-3.7%
CARDEO
SEK 0.066
Cardeon
7D
26.9%
1Y
-19.5%
K33
SEK 0.026
K33
7D
23.8%
1Y
-82.1%
ROKO B
SEK 1,884.00
Röko
7D
-2.1%
1Y
-15.3%
CASE
SEK 20.30
Case Group
7D
-12.1%
1Y
10.9%
LINC
SEK 67.30
Linc
7D
-5.2%
1Y
-1.8%
FLAT B
SEK 11.36
Flat Capital
7D
-4.1%
1Y
n/a