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Swedish (OMX) Industrials Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies158
  • 7D0.8%
  • 3M1.9%
  • 1Y25.1%
  • YTD7.7%

In the last week, the Industrials industry is flat overall, with Saab standing out by going down 7.3%. The past year has been better, since the industry has gained 25% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026SEK 4.9tSEK 2.5tSEK 166.1b24.2x29.8x2x
Fri, 20 Mar 2026SEK 4.4tSEK 2.5tSEK 166.7b23.4x26.6x1.8x
Sun, 15 Feb 2026SEK 5.0tSEK 2.5tSEK 166.3b23.8x29.9x2x
Tue, 13 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.9x27.8x1.9x
Thu, 11 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26x1.8x
Sat, 08 Nov 2025SEK 4.3tSEK 2.5tSEK 172.0b24.6x25.2x1.7x
Mon, 06 Oct 2025SEK 4.4tSEK 2.5tSEK 175.5b24.3x25.1x1.8x
Wed, 03 Sep 2025SEK 4.2tSEK 2.5tSEK 175.5b23.1x24x1.7x
Fri, 01 Aug 2025SEK 4.3tSEK 2.4tSEK 173.0b24.6x24.7x1.7x
Sun, 29 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b23.4x23.1x1.7x
Tue, 27 May 2025SEK 4.2tSEK 2.5tSEK 183.9b23.2x23x1.7x
Thu, 24 Apr 2025SEK 4.0tSEK 2.5tSEK 182.8b20.7x22x1.6x
Sat, 22 Mar 2025SEK 4.4tSEK 2.5tSEK 185.8b23.1x23.8x1.8x
Mon, 17 Feb 2025SEK 4.6tSEK 2.5tSEK 186.1b25.1x24.9x1.8x
Wed, 15 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.5x22.6x1.7x
Fri, 13 Dec 2024SEK 4.3tSEK 2.5tSEK 183.8b23.4x23.6x1.7x
Sun, 10 Nov 2024SEK 4.3tSEK 2.5tSEK 185.8b23.7x23.4x1.7x
Tue, 08 Oct 2024SEK 4.4tSEK 2.5tSEK 185.3b23.2x23.9x1.8x
Thu, 05 Sep 2024SEK 4.3tSEK 2.5tSEK 185.7b24.4x23x1.7x
Sat, 03 Aug 2024SEK 4.2tSEK 2.5tSEK 189.0b24.3x22x1.6x
Mon, 01 Jul 2024SEK 4.3tSEK 2.5tSEK 186.1b25.1x23.3x1.7x
Wed, 29 May 2024SEK 4.5tSEK 2.5tSEK 186.3b24.9x24x1.8x
Fri, 26 Apr 2024SEK 4.2tSEK 2.5tSEK 190.2b22.6x21.9x1.7x
Sun, 24 Mar 2024SEK 4.4tSEK 2.5tSEK 192.1b21.8x22.7x1.7x
Tue, 20 Feb 2024SEK 4.0tSEK 2.5tSEK 192.4b22.9x21x1.6x
Thu, 18 Jan 2024SEK 3.8tSEK 2.5tSEK 182.0b20.6x20.7x1.5x
Sat, 16 Dec 2023SEK 4.0tSEK 2.5tSEK 182.0b19.3x21.8x1.6x
Mon, 13 Nov 2023SEK 3.5tSEK 2.5tSEK 180.7b16.8x19.1x1.4x
Wed, 11 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.4x20.1x1.4x
Fri, 08 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b18.2x20.2x1.5x
Sun, 06 Aug 2023SEK 3.7tSEK 2.4tSEK 174.7b18.8x20.9x1.5x
Tue, 04 Jul 2023SEK 3.7tSEK 2.4tSEK 167.9b18.6x22.2x1.6x
Thu, 01 Jun 2023SEK 3.7tSEK 2.4tSEK 167.5b18.6x22x1.6x
Sat, 29 Apr 2023SEK 3.8tSEK 2.3tSEK 163.9b19.7x23x1.6x
Price to Earnings Ratio

23x


Total Market Cap: SEK 3.8tTotal Earnings: SEK 163.9bTotal Revenue: SEK 2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23.3x202420252026
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 29.8x which is higher than its 3-year average PE of 23.3x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.0x.
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 2.2% 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 Market1.01%
Industrials0.78%
Logistics8.05%
Infrastructure6.08%
Commercial Services5.72%
Industrials4.88%
Trade Distributors3.42%
Professional Services2.80%
Electrical1.36%
Marine and Shipping1.10%
Building0.90%
Machinery0.45%
Construction0.28%
Airlines0%0
Transportation0%0
Aerospace & Defense-5.99%
Industry PE
  • Investors are most optimistic about the Commercial Services industry which is trading above its 3-year average PE ratio of 31.3x.
    • Analysts are expecting annual earnings growth of 45.9%, which is higher than its past year's earnings growth of 7.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 55% over the next 5 years.
  • In contrast, the Industrials 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
ATCO A Atlas CopcoSEK 187.902.5%
+SEK 22.2b		25.3%PE34.6x
VSURE Verisure€11.3717.2%
+€1.7b		n/aPS3.1x
INDT IndutradeSEK 252.2011.7%
+SEK 9.6b		-3.3%PE35.9x
LIFCO B LifcoSEK 317.005.9%
+SEK 8.1b		-7.4%PE39.6x
LATO B Investment AB LatourSEK 232.204.6%
+SEK 6.6b		-11.1%PE30.2x

Latest News

SKF B
SEK 239.80
AB SKF
7D
-1.2%
1Y
37.3%
FAG
SEK 23.30
Fagerhult Group
7D
-19.8%
1Y
-42.2%

Why Fagerhult Group AB (STO:FAG) Could Be Worth Watching

Apr 22
Why Fagerhult Group AB (STO:FAG) Could Be Worth Watching
LOOMIS
SEK 438.00
Loomis
7D
-5.5%
1Y
13.8%

LOOMIS: Mixed Ratings But Future M&A And Dividends Will Shape Returns

The consensus analyst price target for Loomis has moved from SEK 454 to about SEK 464, with analysts pointing to adjusted assumptions around revenue trends, margins, and future P/E multiples following recent mixed research calls. Analyst Commentary Bullish Takeaways Bullish analysts see the recent upgrade as a sign that current valuation metrics already reflect a fair amount of caution, which they argue leaves room for upside if Loomis executes consistently on its revenue plans.
ASSA B
SEK 372.40
ASSA ABLOY
7D
1.1%
1Y
35.1%

ASSA B: Rising Fair Value Will Reflect Stronger Earnings Execution And Margin Confidence

Analysts have lifted the ASSA ABLOY price target from SEK 440 to around SEK 486, citing updated assumptions for revenue growth, profit margins and future P/E, along with recent rating upgrades that offset a previous target cut from another firm. Analyst Commentary Recent Street research around ASSA ABLOY points to a generally constructive tone, with several bullish analysts raising targets or upgrading their stance even as JPMorgan has trimmed its target by SEK 30.
INDT
SEK 252.20
Indutrade
7D
11.7%
1Y
-3.3%

INDT: Refined Assumptions And Acquisition Plans Will Shape Fairly Valued Outlook

Analysts have trimmed their SEK price target on Indutrade slightly to around SEK 260, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E after recent research commentary and an upgrade at Kepler Cheuvreux. Analyst Commentary Recent research commentary around the upgrade has focused on how Indutrade’s current valuation lines up with its execution track record and assumptions for growth, margins and future P/E.
VOLV B
SEK 320.10
AB Volvo
7D
-0.8%
1Y
27.4%

VOLV B: Hydrogen Zero Emission Progress Will Support Stronger Long Term Earnings Power

The analyst fair value estimate for AB Volvo has been adjusted slightly higher to SEK 385 from SEK 380, as analysts balance recent target cuts with ongoing target increases and updated assumptions on revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent research on AB Volvo shows a mix of caution and optimism, with the revised fair value estimate sitting slightly above many of the latest price targets cited in Street research.
LIFCO B
SEK 317.00
Lifco
7D
5.9%
1Y
-7.4%
SAAB B
SEK 570.70
Saab
7D
-7.3%
1Y
30.3%

SAAB B: Higher P/E And Mixed Ratings Will Shape Fairly Valued Outlook

Narrative Update The updated fair value estimate for Saab moves slightly higher to SEK 604.91 from SEK 603.09. This reflects analysts' recent SEK 20 increases to SEK 540 and SEK 516 price targets that are tied to revised revenue growth, profit margin, and future P/E assumptions.
ALFA
SEK 567.00
Alfa Laval
7D
1.7%
1Y
45.4%

ALFA: Elevated P E Multiples Will Test Tanker Order Momentum

Analyst price targets for Alfa Laval have been adjusted modestly higher, with recent SEK-based target increases at Citi, JPMorgan, Deutsche Bank, and Morgan Stanley partly offset by a downgrade at Pareto. Analysts highlight order momentum in tankers and a valuation they view as more reasonable.
ATCO A
SEK 187.90
Atlas Copco
7D
2.5%
1Y
25.3%
ADDT B
SEK 346.80
Addtech AB (publ.)
7D
4.6%
1Y
18.0%
EPI A
SEK 248.80
Epiroc
7D
-2.2%
1Y
27.4%
PEAB B
SEK 98.35
Peab
7D
-4.2%
1Y
31.1%
VSURE
€11.37
Verisure
7D
17.2%
1Y
n/a

Rising Acquisition Costs And Attrition Risks Will Test Recurring Revenue Strength Yet Offer Upside

Catalysts About Verisure Verisure provides monitored security systems and subscription-based alarm services for homes and small businesses. What are the underlying business or industry changes driving this perspective?
SAND
SEK 392.60
Sandvik
7D
-1.8%
1Y
104.6%

SAND: Fair Value View Balances Mining Upswing Orders With Restructuring And Dividend

Sandvik's analyst fair value estimate has been updated from SEK 380 to SEK 430 as analysts factor in higher forecast revenue growth, slightly stronger margins, and a modestly lower assumed discount rate, in line with a series of recent price target revisions across the Street. Analyst Commentary Recent Street research on Sandvik shows a mix of views, but with a clear cluster of bullish analysts lifting price targets over the past few months.
LATO B
SEK 232.20
Investment AB Latour
7D
4.6%
1Y
-11.1%