Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Healthcare Services Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies8
  • 7D5.3%
  • 3M11.7%
  • 1Y-1.3%
  • YTD5.4%

The Healthcare Services industry is up 5.3% in the last week, with Medicover up 7.0%. In the same time, EQL Pharma was down 7.2%. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

Has the Swedish Healthcare Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026SEK 95.6bSEK 91.6bSEK 3.3b18.9x28.8x1x
Sat, 18 Apr 2026SEK 91.6bSEK 89.9bSEK 3.1b18.8x29.9x1x
Mon, 16 Mar 2026SEK 85.9bSEK 90.3bSEK 3.0b17.8x28.3x1x
Wed, 11 Feb 2026SEK 90.9bSEK 88.4bSEK 3.0b18x30x1x
Fri, 09 Jan 2026SEK 95.1bSEK 89.0bSEK 2.9b18.8x32.8x1.1x
Sun, 07 Dec 2025SEK 61.3bSEK 73.0bSEK 2.4b16.9x25.7x0.8x
Tue, 04 Nov 2025SEK 65.4bSEK 71.7bSEK 2.1b17.3x31.5x0.9x
Thu, 02 Oct 2025SEK 64.6bSEK 72.3bSEK 2.0b18x33.1x0.9x
Sat, 30 Aug 2025SEK 65.2bSEK 72.4bSEK 2.0b17.1x33.3x0.9x
Mon, 28 Jul 2025SEK 68.1bSEK 72.1bSEK 1.9b16.7x35.8x0.9x
Wed, 25 Jun 2025SEK 58.9bSEK 71.1bSEK 1.7b15.9x34.6x0.8x
Fri, 23 May 2025SEK 59.1bSEK 70.7bSEK 1.7b16.1x34.9x0.8x
Sun, 20 Apr 2025SEK 55.7bSEK 69.5bSEK 1.4b17.9x39.6x0.8x
Tue, 18 Mar 2025SEK 53.1bSEK 69.5bSEK 1.4b18.7x37.8x0.8x
Thu, 13 Feb 2025SEK 54.9bSEK 68.3bSEK 1.4b19.5x39.9x0.8x
Sat, 11 Jan 2025SEK 49.5bSEK 68.6bSEK 1.4b17.5x36.1x0.7x
Mon, 09 Dec 2024SEK 48.3bSEK 68.7bSEK 1.4b17.7x35.2x0.7x
Wed, 06 Nov 2024SEK 46.2bSEK 68.8bSEK 1.2b17.3x38.5x0.7x
Fri, 04 Oct 2024SEK 46.7bSEK 66.6bSEK 1.2b18.6x37.6x0.7x
Sun, 01 Sep 2024SEK 47.5bSEK 66.5bSEK 1.2b19x38.3x0.7x
Tue, 30 Jul 2024SEK 47.7bSEK 67.1bSEK 1.2b14.9x39.7x0.7x
Thu, 27 Jun 2024SEK 46.5bSEK 64.7bSEK 1.3b13.6x35.8x0.7x
Sat, 25 May 2024SEK 45.0bSEK 65.2bSEK 1.3b14x34.4x0.7x
Mon, 22 Apr 2024SEK 36.5bSEK 64.0bSEK 1.2b12.6x29.7x0.6x
Wed, 20 Mar 2024SEK 35.6bSEK 63.5bSEK 1.2b12.5x29.1x0.6x
Fri, 16 Feb 2024SEK 37.0bSEK 63.4bSEK 1.2b11.7x30x0.6x
Sun, 14 Jan 2024SEK 38.7bSEK 61.9bSEK 940.3m14.3x41.2x0.6x
Tue, 12 Dec 2023SEK 34.1bSEK 61.9bSEK 956.8m12.4x35.6x0.6x
Thu, 09 Nov 2023SEK 33.1bSEK 62.5bSEK 1.1b12x31.2x0.5x
Sat, 07 Oct 2023SEK 31.4bSEK 60.5bSEK 903.8m10.3x34.8x0.5x
Mon, 04 Sep 2023SEK 35.1bSEK 61.0bSEK 905.5m10.4x38.7x0.6x
Wed, 02 Aug 2023SEK 35.0bSEK 60.3bSEK 944.6m8.7x37x0.6x
Fri, 30 Jun 2023SEK 35.6bSEK 58.9bSEK 768.9m10.8x46.3x0.6x
Sun, 28 May 2023SEK 37.3bSEK 58.6bSEK 768.5m11.2x48.6x0.6x
Price to Earnings Ratio

48.6x


Total Market Cap: SEK 37.3bTotal Earnings: SEK 768.5mTotal Revenue: SEK 58.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Services Industry Price to Earnings3Y Average 35.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Healthcare 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 28.8x which is lower than its 3-year average PE of 35.1x.
  • The 3-year average PS ratio of 0.75x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Healthcare industry?

SE Market2.00%
Healthcare3.00%
Healthcare Services5.31%
Healthcare Services6.89%
Healthcare Facilities4.64%
Healthcare Distributors4.38%
Industry PE
  • Investors are most optimistic about the Healthcare Distributors industry, which is trading close to its 3-year average PE ratio of 52.8x.
    • Analysts are expecting annual earnings growth of 18.8%, which is higher than its past year's earnings decline of 3.7% per year.
  • Investors are most pessimistic about the Healthcare Facilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 15.2x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 24% over the next 5 years.
  • However this is lower than its past earnings growth rate of 69% per year.
  • In contrast, the Healthcare Facilities industry is expected to see its earnings grow by 11% 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
MCOV B MedicoverSEK 213.006.5%
+SEK 2.0b		-10.7%PE37.2x
ASKER Asker Healthcare GroupSEK 82.656.2%
+SEK 1.8b		-13.3%PE50.7x
ATT AttendoSEK 114.506.8%
+SEK 1.0b		83.8%PE18.8x
AMBEA AmbeaSEK 149.601.9%
+SEK 224.3m		40.5%PE16.8x
HUM HumanaSEK 52.206.0%
+SEK 140.2m		42.0%PE12.4x

Latest News

MCOV B
SEK 213.00
Medicover
7D
6.5%
1Y
-10.7%
Narrative Update • May 16

MCOV B: Dividend Uplift And 2028 Revenue Ambition Will Support Future Upside

Analysts have nudged their Medicover price target slightly lower to SEK256.96 from SEK257.29, reflecting small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: SEK257.29 to SEK256.96, representing a very small downward adjustment in the modelled estimate.
HUM
SEK 52.20
Humana
7D
6.0%
1Y
42.0%
New Narrative • May 15

Elderly Care Expansion And Digitalization Will Transform This Nordic Care Provider Over Time

Catalysts About Humana Humana is a Nordic care provider focused on specialized care services across Sweden, Norway and Finland. What are the underlying business or industry changes driving this perspective?
ATT
SEK 114.50
Attendo
7D
6.8%
1Y
83.8%
Narrative Update • May 14

ATT: New Specialised Care Expansion And 2026 Dividend Framework Will Support Upside

Attendo's analyst price target has been reiterated at SEK 125 as analysts refresh their assumptions around discount rate, revenue growth, profit margin and future P/E to reflect updated expectations without changing the headline valuation level. What's in the News Unika, part of Attendo, has opened a new LSS unit in Mölndal focused on individuals with Prader Willi syndrome, expanding its specialised disability care offering in Sweden (Key Developments).
EQL
SEK 26.00
EQL Pharma
7D
-3.9%
1Y
-70.1%
Analysis Article • May 14

This Analyst Just Downgraded Their EQL Pharma AB (publ) (STO:EQL) EPS Forecasts

The analyst covering EQL Pharma AB (publ) ( STO:EQL ) delivered a dose of negativity to shareholders today, by making a...
AMBEA
SEK 149.60
Ambea
7D
1.9%
1Y
40.5%
Narrative Update • May 12

AMBEA: Nordic Care M&A Expansion And Dividend Policy Will Support Future Upside

Analysts have raised their fair value estimate for Ambea from SEK165 to SEK181, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E. What's in the News Ambea is actively seeking acquisitions across its markets, with management highlighting a continued focus on bolt on deals that fit operationally and can be integrated into existing operations (company conference call).
HEGR
SEK 0.54
Hedera Group
7D
-6.1%
1Y
-75.7%
ASKER
SEK 82.65
Asker Healthcare Group
7D
6.2%
1Y
-13.3%
DEDI
SEK 44.05
Dedicare
7D
-1.2%
1Y
-3.6%