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Swedish (OMX) Capital Markets Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies49
  • 7D-3.8%
  • 3M-17.5%
  • 1Y-13.0%
  • YTD-17.7%

Over the last 7 days, the Capital Markets industry has dropped 2.6%, driven by a pullback from EQT of 3.5%. Overall the industry is down 13% in 12 months. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026SEK 499.6bSEK 76.6bSEK 15.1b16.7x33x6.5x
Fri, 20 Feb 2026SEK 526.5bSEK 75.9bSEK 14.6b19.4x36.1x6.9x
Sun, 18 Jan 2026SEK 629.0bSEK 89.6bSEK 17.8b20.7x35.4x7x
Tue, 16 Dec 2025SEK 590.7bSEK 89.9bSEK 18.0b21.8x32.9x6.6x
Thu, 13 Nov 2025SEK 608.1bSEK 89.2bSEK 18.0b25.7x33.9x6.8x
Sat, 11 Oct 2025SEK 602.8bSEK 90.4bSEK 18.1b25.3x33.4x6.7x
Mon, 08 Sep 2025SEK 589.8bSEK 90.3bSEK 18.0b24.1x32.8x6.5x
Wed, 06 Aug 2025SEK 618.4bSEK 90.8bSEK 17.6b23.7x35.1x6.8x
Fri, 04 Jul 2025SEK 599.7bSEK 90.0bSEK 16.5b22.6x36.4x6.7x
Sun, 01 Jun 2025SEK 544.0bSEK 88.8bSEK 16.3b22.3x33.4x6.1x
Tue, 29 Apr 2025SEK 518.3bSEK 93.6bSEK 22.2b18x23.4x5.5x
Thu, 27 Mar 2025SEK 583.1bSEK 93.9bSEK 22.9b18.5x25.5x6.2x
Sat, 22 Feb 2025SEK 570.8bSEK 82.4bSEK 16.8b23.3x34x6.9x
Mon, 20 Jan 2025SEK 571.7bSEK 87.1bSEK 16.0b21.3x35.7x6.6x
Wed, 18 Dec 2024SEK 537.5bSEK 87.0bSEK 15.9b19.7x33.9x6.2x
Fri, 15 Nov 2024SEK 506.0bSEK 87.2bSEK 15.9b13.9x31.8x5.8x
Sun, 13 Oct 2024SEK 541.6bSEK 82.3b-SEK 1,532,671,204.2517.7x-353.4x6.6x
Tue, 10 Sep 2024SEK 537.8bSEK 82.5b-SEK 1,451,990,476.4217.6x-370.4x6.5x
Thu, 08 Aug 2024SEK 520.7bSEK 81.7b-SEK 7,341,438,745.3318.8x-70.9x6.4x
Sat, 06 Jul 2024SEK 550.3bSEK 79.7b-SEK 10,534,176,427.2828.8x-52.2x6.9x
Mon, 03 Jun 2024SEK 540.3bSEK 79.8b-SEK 10,609,587,116.4221.4x-50.9x6.8x
Wed, 01 May 2024SEK 510.4bSEK 79.5bSEK 5.6b18.1x91.7x6.4x
Fri, 29 Mar 2024SEK 560.2bSEK 80.3bSEK 6.1b16.5x92x7x
Sun, 25 Feb 2024SEK 496.0bSEK 79.6bSEK 6.2b13.6x79.4x6.2x
Tue, 23 Jan 2024SEK 442.0bSEK 79.6bSEK 19.6b16.3x22.6x5.6x
Thu, 21 Dec 2023SEK 476.8bSEK 75.5bSEK 17.2b18.2x27.7x6.3x
Sat, 18 Nov 2023SEK 433.2bSEK 76.3bSEK 17.4b17x24.9x5.7x
Mon, 16 Oct 2023SEK 384.6bSEK 73.4bSEK 15.2b15.9x25.3x5.2x
Wed, 13 Sep 2023SEK 380.8bSEK 73.0bSEK 15.4b16.6x24.7x5.2x
Fri, 11 Aug 2023SEK 410.0bSEK 69.5bSEK 12.2b19.2x33.5x5.9x
Sun, 09 Jul 2023SEK 339.0bSEK 63.5bSEK 10.0b20.1x33.7x5.3x
Tue, 06 Jun 2023SEK 353.0bSEK 63.8bSEK 10.5b20.7x33.6x5.5x
Thu, 04 May 2023SEK 352.4bSEK 63.6bSEK 13.6b23.3x25.9x5.5x
Sat, 01 Apr 2023SEK 319.7bSEK 59.3bSEK 18.5b22.4x17.3x5.4x
Price to Earnings Ratio

17.3x


Total Market Cap: SEK 319.7bTotal Earnings: SEK 18.5bTotal Revenue: SEK 59.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Capital Markets Industry Price to Earnings3Y Average -3.8x202420252026
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 32.9x which is higher than its 3-year average PE of -3.8x.
  • The industry is trading close to its 3-year average PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 6.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 8.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

SE Market-4.12%
Financials-3.59%
Capital Markets-3.80%
Asset Management-3.56%
Investment Banking and Brokerage-4.55%
Financial Exchanges and Data-5.65%
Industry PE
  • Investors are most optimistic about the Asset Management industry, which is trading close to its 3-year average PE ratio of 39.0x.
    • Analysts are expecting annual earnings growth of 27.4%, which is higher than its past year's earnings growth of 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 7.5% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 9.1% 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
CASE Case GroupSEK 21.801.9%
+SEK 12.9m		31.3%PE16.7x
OODA oodash GroupSEK 38.904.7%
+SEK 6.5m		-39.0%PS6.6x
KAV Katalysen VenturesSEK 6.008.1%
+SEK 4.9m		-49.2%PS39.5x
RAMSH Ramlösa shippingSEK 19.803.4%
+SEK 2.9m		-28.8%PE18.7x
ABIG Abelco Investment GroupSEK 0.00433.3%
+SEK 2.3m		-33.3%PS6.9x

Latest News

CS
SEK 72.30
CoinShares International
7D
-18.6%
1Y
-3.6%
EQT
SEK 273.80
EQT
7D
-3.5%
1Y
-17.0%
SAVE
SEK 286.40
Nordnet
7D
-4.9%
1Y
16.4%

SAVE: Future Returns Will Depend On Dividend Policy And Leadership Transition

Analysts have kept their SEK price target for Nordnet broadly unchanged at SEK 299.36. They highlight only slight tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E that fine tune rather than reset their view on the shares.
OODA
SEK 38.90
oodash Group
7D
4.7%
1Y
-39.0%
RATO B
SEK 33.28
Ratos
7D
-3.8%
1Y
-7.3%
RAMSH
SEK 19.80
Ramlösa shipping
7D
3.4%
1Y
-28.8%
AZA
SEK 329.80
Avanza Bank Holding
7D
-4.1%
1Y
1.7%

AZA: Future Earnings Power Will Be Supported By European Retail Participation Trends

Narrative Update The analyst price target for Avanza Bank Holding is unchanged at SEK 445, as analysts reference a mix of recent upgrades, downgrades and initiations that collectively point to a more balanced view on valuation and earnings quality. Analyst Commentary Recent research on Avanza Bank Holding points to a mix of upgrades, initiations and target revisions that leaves the overall analyst stance balanced, with the SEK 445 target acting as a key reference level for valuation.
CASE
SEK 21.80
Case Group
7D
1.9%
1Y
31.3%
BURE
SEK 209.20
Bure Equity
7D
-3.5%
1Y
-38.1%
KAV
SEK 6.00
Katalysen Ventures
7D
8.1%
1Y
-49.2%
LARK
SEK 2.15
Lärkberget
7D
2.9%
1Y
-10.4%
LINC
SEK 68.70
Linc
7D
-5.5%
1Y
1.3%
ABIG
SEK 0.004
Abelco Investment Group
7D
33.3%
1Y
-33.3%
SPLTN
SEK 165.40
Investment AB Spiltan
7D
-3.8%
1Y
-18.7%
DIV B
SEK 0.30
Dividend Sweden
7D
7.9%
1Y
23.8%