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Swedish (OMX) Industrials Sector Analysis

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies158
  • 7D1.2%
  • 3M3.1%
  • 1Y8.4%
  • YTD0%

Over the last 7 days, the Industrials industry has risen 1.2%, driven by gains from Saab of 5.8%. In the last 12 months, the industry was up 8.4%. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Jan 2026SEK 4.6tSEK 2.5tSEK 172.2b25.6x26.4x1.8x
Tue, 02 Dec 2025SEK 4.4tSEK 2.5tSEK 172.2b24.5x25.6x1.8x
Thu, 30 Oct 2025SEK 4.5tSEK 2.5tSEK 173.0b25.3x25.9x1.8x
Sat, 27 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23x24.3x1.7x
Mon, 25 Aug 2025SEK 4.4tSEK 2.5tSEK 175.5b23.4x25.1x1.8x
Wed, 23 Jul 2025SEK 4.2tSEK 2.4tSEK 171.1b23.6x24.6x1.7x
Fri, 20 Jun 2025SEK 4.1tSEK 2.5tSEK 184.0b22.3x22.3x1.6x
Sun, 18 May 2025SEK 4.3tSEK 2.5tSEK 183.8b23.1x23.5x1.7x
Tue, 15 Apr 2025SEK 3.9tSEK 2.5tSEK 185.7b20.6x21.2x1.6x
Thu, 13 Mar 2025SEK 4.5tSEK 2.5tSEK 187.3b23x23.9x1.8x
Sat, 08 Feb 2025SEK 4.5tSEK 2.5tSEK 185.4b23.3x24.1x1.8x
Mon, 06 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.7x22.8x1.7x
Wed, 04 Dec 2024SEK 4.3tSEK 2.5tSEK 183.9b23.1x23.5x1.7x
Fri, 01 Nov 2024SEK 4.3tSEK 2.5tSEK 181.8b23.3x23.7x1.7x
Sun, 29 Sep 2024SEK 4.5tSEK 2.5tSEK 185.3b23.7x24.3x1.8x
Tue, 27 Aug 2024SEK 4.3tSEK 2.5tSEK 186.3b24.2x23.3x1.7x
Thu, 25 Jul 2024SEK 4.4tSEK 2.5tSEK 189.3b24.7x23.1x1.7x
Sat, 22 Jun 2024SEK 4.3tSEK 2.5tSEK 186.0b25.6x23.4x1.7x
Mon, 20 May 2024SEK 4.4tSEK 2.5tSEK 186.2b23.9x23.7x1.8x
Wed, 17 Apr 2024SEK 4.3tSEK 2.5tSEK 191.4b22.2x22.2x1.7x
Fri, 15 Mar 2024SEK 4.2tSEK 2.5tSEK 192.1b21.8x22x1.7x
Sun, 11 Feb 2024SEK 3.9tSEK 2.5tSEK 193.2b20.6x20.4x1.6x
Tue, 09 Jan 2024SEK 3.9tSEK 2.5tSEK 182.1b20.7x21.2x1.5x
Thu, 07 Dec 2023SEK 3.8tSEK 2.5tSEK 182.0b18.5x20.9x1.5x
Sat, 04 Nov 2023SEK 3.5tSEK 2.5tSEK 184.5b16.4x18.8x1.4x
Mon, 02 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.8x19.8x1.4x
Wed, 30 Aug 2023SEK 3.6tSEK 2.4tSEK 176.1b18.1x20.3x1.5x
Fri, 28 Jul 2023SEK 3.7tSEK 2.4tSEK 174.6b19.2x21.2x1.5x
Sun, 25 Jun 2023SEK 3.7tSEK 2.4tSEK 167.9b18.8x21.9x1.6x
Tue, 23 May 2023SEK 3.8tSEK 2.3tSEK 167.5b19.3x22.7x1.6x
Thu, 20 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b20.6x23.9x1.7x
Sat, 18 Mar 2023SEK 3.4tSEK 2.2tSEK 156.1b18.9x22x1.5x
Mon, 13 Feb 2023SEK 3.6tSEK 2.2tSEK 155.9b20.2x23.1x1.6x
Wed, 11 Jan 2023SEK 3.5tSEK 2.2tSEK 162.6b17.8x21.4x1.6x
Price to Earnings Ratio

21.4x


Total Market Cap: SEK 3.5tTotal Earnings: SEK 162.6bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.8x202420252026
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 26.4x which is higher than its 3-year average PE of 22.8x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 5.1% 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 and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Swedish Industrials sector?

SE Market0.91%
Industrials1.22%
Logistics5.41%
Aerospace & Defense5.29%
Professional Services2.48%
Construction1.90%
Marine and Shipping1.74%
Machinery1.67%
Infrastructure1.59%
Building1.08%
Airlines0%0
Transportation0%0
Electrical-0.54%
Industrials-1.12%
Trade Distributors-1.48%
Commercial Services-2.01%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 43.7x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 111% over the next 5 years.
  • In contrast, the Machinery 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
SAAB B SaabSEK 559.805.8%
+SEK 16.4b		141.0%PE58x
ATCO A Atlas CopcoSEK 167.751.7%
+SEK 13.6b		-2.3%PE29.6x
VOLV B AB VolvoSEK 297.802.0%
+SEK 12.0b		10.8%PE17x
SAND SandvikSEK 301.801.9%
+SEK 6.9b		50.9%PE25.6x
EPI A EpirocSEK 210.202.2%
+SEK 5.4b		8.5%PE29.5x

Latest News

ASSA B
SEK 354.80
ASSA ABLOY
7D
-0.2%
1Y
8.5%

These 4 Measures Indicate That ASSA ABLOY (STO:ASSA B) Is Using Debt Reasonably Well

Jan 04
These 4 Measures Indicate That ASSA ABLOY (STO:ASSA B) Is Using Debt Reasonably Well
SAND
SEK 301.80
Sandvik
7D
1.9%
1Y
50.9%

Here's Why Sandvik (STO:SAND) Has Caught The Eye Of Investors

Jan 03
Here's Why Sandvik (STO:SAND) Has Caught The Eye Of Investors
ADDT B
SEK 318.40
Addtech AB (publ.)
7D
-2.1%
1Y
4.3%

Does Addtech AB (publ.) (STO:ADDT B) Have A Healthy Balance Sheet?

Dec 31
Does Addtech AB (publ.) (STO:ADDT B) Have A Healthy Balance Sheet?
VOLV B
SEK 297.80
AB Volvo
7D
2.0%
1Y
10.8%

Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist

Dec 28
Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist
ATCO A
SEK 167.75
Atlas Copco
7D
1.7%
1Y
-2.3%

What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?

Dec 26
What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?
INDT
SEK 234.80
Indutrade
7D
-1.1%
1Y
-16.5%

INDT: Buy-And-Build Acquisitions Will Drive Long-Term Earnings Resilience

Analysts have reduced their price target on Indutrade to approximately SEK 320 from SEK 400, reflecting a more conservative valuation multiple, despite slightly stronger growth and margin assumptions following recent downgrades to Hold. Analyst Commentary Bullish analysts acknowledge the recent downgrade to Hold but highlight that the revised assumptions still embed a constructive long term view on Indutrade, underpinned by resilient end market demand and disciplined capital allocation.
MTRS
SEK 193.30
Munters Group
7D
12.8%
1Y
3.9%

MTRS: Standout Q3 AI Infrastructure Demand Will Drive Future Cash Flow Durability

Analysts have raised their fair value estimate for Munters Group to SEK 199 from SEK 188, citing a standout Q3 that underscored the company's growing role as a critical supplier to artificial intelligence infrastructure. Analyst Commentary Analysts remain broadly constructive on Munters Group following the latest price target increase, highlighting the company's execution in high growth end markets and its sharpened strategic focus on artificial intelligence infrastructure.
AQ
SEK 185.40
AQ Group
7D
-4.4%
1Y
28.2%
BUFAB
SEK 97.85
Bufab
7D
-4.0%
1Y
12.8%

Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)

Dec 21
Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)
ALFA
SEK 468.40
Alfa Laval
7D
1.5%
1Y
-0.8%

ALFA: Raised Guidance And Partnerships Will Support Sustainable Medium Term Performance

We raise our analyst price target on Alfa Laval to SEK 479 from SEK 470, reflecting analysts' increased confidence in slightly faster revenue growth, a marginally lower discount rate, and a modestly higher future valuation multiple supported by recent target upgrades across the Street. Analyst Commentary Analyst sentiment around Alfa Laval remains skewed positively, with multiple recent target increases and at least one rating upgrade signaling rising conviction in the company’s medium term growth and earnings trajectory.
LIFCO B
SEK 340.80
Lifco
7D
-2.5%
1Y
5.0%
NIBE B
SEK 36.14
NIBE Industrier
7D
3.8%
1Y
-18.8%

NIBE B: Future Upside Will Stem From Margin Recovery And Order Intake Normalization

Analysts have nudged their fair value estimate for NIBE Industrier higher to approximately SEK 44.73 from about SEK 43.90. This reflects slightly stronger long term growth and margin assumptions, in line with recent Buy rated street targets around SEK 48.00.
SAAB B
SEK 559.80
Saab
7D
5.8%
1Y
141.0%

SAAB B: Future Defense Backlog And Execution Risks Will Shape Returns Ahead

Analysts have nudged their price target on Saab higher by SEK 30 to SEK 460, citing slightly improved long term earnings visibility and a modestly higher valuation multiple. Analyst Commentary Analyst reactions to the updated target reflect a nuanced view of Saab's risk reward profile, balancing improved long term earnings visibility against lingering concerns on valuation and execution.
OEM B
SEK 137.80
OEM International
7D
-3.4%
1Y
23.7%
EPI A
SEK 210.20
Epiroc
7D
2.2%
1Y
8.5%

Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected

Dec 02
Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected
VSURE
€13.86
Verisure
7D
-4.3%
1Y
n/a