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Swedish (OMX) Industrials Sector Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies157
  • 7D0.07%
  • 3M3.1%
  • 1Y2.9%
  • YTD1.2%

In the last week, Industrials has been flat. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026SEK 4.7tSEK 2.5tSEK 166.9b22.7x28x1.9x
Thu, 12 Feb 2026SEK 5.0tSEK 2.5tSEK 166.1b25x30.3x2x
Sat, 10 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.8x27.7x1.9x
Mon, 08 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.2x26.3x1.8x
Wed, 05 Nov 2025SEK 4.4tSEK 2.5tSEK 172.4b24.1x25.3x1.7x
Fri, 03 Oct 2025SEK 4.4tSEK 2.5tSEK 175.5b23.5x24.8x1.7x
Sun, 31 Aug 2025SEK 4.3tSEK 2.5tSEK 175.5b23.6x24.5x1.7x
Tue, 29 Jul 2025SEK 4.3tSEK 2.4tSEK 172.8b24.7x24.9x1.8x
Thu, 26 Jun 2025SEK 4.1tSEK 2.5tSEK 184.0b22.7x22.4x1.6x
Sat, 24 May 2025SEK 4.2tSEK 2.5tSEK 183.9b22.7x22.6x1.6x
Mon, 21 Apr 2025SEK 3.9tSEK 2.5tSEK 188.1b20.3x20.9x1.6x
Wed, 19 Mar 2025SEK 4.5tSEK 2.5tSEK 185.8b23.7x24.4x1.8x
Fri, 14 Feb 2025SEK 4.6tSEK 2.5tSEK 185.7b24.6x25x1.8x
Sun, 12 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.7x1.7x
Tue, 10 Dec 2024SEK 4.4tSEK 2.5tSEK 183.9b22.7x23.9x1.8x
Thu, 07 Nov 2024SEK 4.3tSEK 2.5tSEK 181.7b23.6x23.6x1.7x
Sat, 05 Oct 2024SEK 4.5tSEK 2.5tSEK 185.3b23.4x24x1.8x
Mon, 02 Sep 2024SEK 4.4tSEK 2.5tSEK 185.9b24.5x23.8x1.7x
Wed, 31 Jul 2024SEK 4.4tSEK 2.5tSEK 189.0b25.5x23.3x1.7x
Fri, 28 Jun 2024SEK 4.3tSEK 2.5tSEK 186.0b25x23.2x1.7x
Sun, 26 May 2024SEK 4.5tSEK 2.5tSEK 186.3b24.4x24.2x1.8x
Tue, 23 Apr 2024SEK 4.1tSEK 2.5tSEK 192.7b21.3x21.5x1.6x
Thu, 21 Mar 2024SEK 4.3tSEK 2.5tSEK 192.1b21.7x22.2x1.7x
Sat, 17 Feb 2024SEK 4.0tSEK 2.5tSEK 193.1b22.7x20.9x1.6x
Mon, 15 Jan 2024SEK 3.9tSEK 2.5tSEK 182.0b20.8x21.3x1.6x
Wed, 13 Dec 2023SEK 3.8tSEK 2.5tSEK 182.2b18.9x21.1x1.5x
Fri, 10 Nov 2023SEK 3.5tSEK 2.5tSEK 180.8b17x19.4x1.4x
Sun, 08 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.3x19.7x1.4x
Tue, 05 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b18.6x20.3x1.5x
Thu, 03 Aug 2023SEK 3.7tSEK 2.4tSEK 174.7b19.1x21.1x1.5x
Sat, 01 Jul 2023SEK 3.8tSEK 2.4tSEK 167.9b18.9x22.5x1.6x
Mon, 29 May 2023SEK 3.8tSEK 2.4tSEK 167.5b18.7x22.4x1.6x
Wed, 26 Apr 2023SEK 3.7tSEK 2.3tSEK 162.7b20.2x22.7x1.6x
Fri, 24 Mar 2023SEK 3.6tSEK 2.2tSEK 156.2b19.3x22.8x1.6x
Price to Earnings Ratio

22.8x


Total Market Cap: SEK 3.6tTotal Earnings: SEK 156.2bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23.2x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 28.0x which is higher than its 3-year average PE of 23.2x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 2.2% 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 Industrials sector?

SE Market0.51%
Industrials0.074%
Aerospace & Defense1.69%
Electrical1.65%
Trade Distributors0.93%
Machinery0.23%
Construction0.04%
Airlines0%0
Transportation0%0
Logistics-0.10%
Commercial Services-0.43%
Infrastructure-0.53%
Building-1.17%
Industrials-1.27%
Professional Services-1.84%
Marine and Shipping-2.82%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 76.2x.
    • Analysts are expecting annual earnings growth of 23.5%, which is higher than its past year's earnings decline of 10.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 52% over the next 5 years.
  • In contrast, the Industrials 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
SAAB B SaabSEK 688.102.2%
+SEK 7.9b		69.6%PE58.6x
ALFA Alfa LavalSEK 521.003.0%
+SEK 6.2b		14.8%PE26x
SECU B SecuritasSEK 157.602.5%
+SEK 2.2b		5.8%PE17.7x
EPI A EpirocSEK 238.300.8%
+SEK 2.2b		11.0%PE33.5x
SKA B SkanskaSEK 257.601.1%
+SEK 1.1b		5.6%PE18.7x

Latest News

SAAB B
SEK 688.10
Saab
7D
2.2%
1Y
69.6%
SAND
SEK 356.20
Sandvik
7D
-0.5%
1Y
51.9%
EPI A
SEK 238.30
Epiroc
7D
0.8%
1Y
11.0%
VSURE
€8.67
Verisure
7D
-1.1%
1Y
n/a
SKA B
SEK 257.60
Skanska
7D
1.1%
1Y
5.6%
AQ
SEK 187.80
AQ Group
7D
3.9%
1Y
7.3%

AQ: Future Upside Will Depend On Acquisitions And Steady Dividend Progress

Analysts have kept their SEK 203.50 price target for AQ Group broadly unchanged, reflecting only very small tweaks to assumptions on the discount rate, revenue growth, profit margin and future P/E. Their overall valuation view remains effectively the same.
SKF B
SEK 224.70
AB SKF
7D
-1.1%
1Y
-2.4%
ASSA B
SEK 345.10
ASSA ABLOY
7D
-0.7%
1Y
11.5%

ASSA B: European Construction Recovery Expectations Will Test Rich Multiple And Execution Credentials

The analyst price target for ASSA ABLOY has increased by about SEK 5 to SEK 312, as analysts factor in updated assumptions on growth, margins and P/E multiples, along with recent Street research that highlights a potential recovery in European construction activity and mixed views across brokerage houses. Analyst Commentary Recent Street research on ASSA ABLOY presents a split view, with some firms lifting ratings and targets and others turning more cautious.
ATCO A
SEK 169.70
Atlas Copco
7D
-0.5%
1Y
-4.8%

ATCO A: Mixed Ratings And Special Dividend Will Shape Future Balance

The analyst price target for Atlas Copco has edged higher to SEK 194.0, with analysts citing a small adjustment to the discount rate and steady assumptions for revenue growth, profit margins and future P/E as key factors behind the move, despite mixed recent rating and target changes from Goldman Sachs, Deutsche Bank, Citi and Pareto. Analyst Commentary Recent research on Atlas Copco reflects a split view, with some on the Street focusing on earnings power and end market trends, and others concentrating on valuation risk and execution hurdles.
VOLV B
SEK 320.30
AB Volvo
7D
-0.3%
1Y
0.8%

VOLV B: Truck Cycle Weakness And Tariff Effects Will Shape Future Returns

Analysts have lifted the AB Volvo price target by SEK 8 to reflect slightly higher modeled fair value, supported by a series of recent SEK 10 to SEK 30 target increases and mixed rating changes that point to adjusted assumptions for revenue growth and margins despite ongoing truck market headwinds. Analyst Commentary Recent Street research on AB Volvo reflects a mix of optimism on valuation upside and caution around the truck cycle, with several firms adjusting price targets while fine tuning ratings.
SECU B
SEK 157.60
Securitas
7D
2.5%
1Y
5.8%

SECU B: Future Margins Dividend Policy And P/E Assumptions Will Drive Balanced Outlook

We are lifting our analyst price target for Securitas by SEK 3.2 to SEK 155.4. This reflects recent SEK-based target increases from several firms and updated analyst assumptions on discount rate, profit margin and future P/E levels. Analyst Commentary Recent Street research on Securitas points to a mixed view, with some analysts adjusting targets higher while others turn more cautious on the shares.
ALFA
SEK 521.00
Alfa Laval
7D
3.0%
1Y
14.8%

ALFA: Elevated P E Multiples Will Strain Tanker Order Execution Ahead

Narrative Update: Alfa Laval The analyst fair value estimate for Alfa Laval has been lifted from SEK 425 to SEK 430, reflecting updated assumptions on revenue growth, profit margins and P/E multiples, as analysts point to stronger tanker order expectations, a more balanced valuation and a series of recent price target revisions, including moves to SEK 466 and SEK 500. Analyst Commentary Recent research updates on Alfa Laval highlight a mix of optimism and caution, with several firms adjusting their views and price targets in quick succession.
BEIJ B
SEK 130.00
Beijer Ref
7D
1.7%
1Y
-16.9%

BEIJ B: Higher 2025 Dividend And Split Payouts Will Support Outlook

Analysts have kept their SEK 172.83 price target for Beijer Ref unchanged, citing only minor tweaks to inputs such as a slightly lower discount rate and a marginally adjusted future P/E assumption, rather than any shift in their core view of the company. What's in the News The Board of Directors of Beijer Ref AB (publ) has proposed a dividend of SEK 1.50 per share for the year 2025, compared with SEK 1.40 previously, corresponding to 31% of net profit attributable to the parent company's shareholders, excluding items affecting comparability (Key Developments).
HUSQ B
SEK 37.42
Husqvarna
7D
-4.7%
1Y
-30.7%

HUSQ B: Recalibrated Assumptions And AI Mowers Will Shape Future Margin Recovery

Analysts have reduced their SEK price target on Husqvarna by SEK 4.33 to SEK 47.75, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research activity around Husqvarna has focused on recalibrating fair value assumptions rather than reacting to a single data point.
ADDT B
SEK 306.80
Addtech AB (publ.)
7D
1.1%
1Y
0.6%
LATO B
SEK 202.50
Investment AB Latour
7D
-2.6%
1Y
-29.7%