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Swedish (OMX) Industrials Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies157
  • 7D0.4%
  • 3M7.3%
  • 1Y8.2%
  • YTD6.1%

In the last week, the Industrials industry is up 1.5%, with Sandvik leading the way, up 7.5%. In the last 12 months, the industry was up 10%. 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
Thu, 29 Jan 2026SEK 4.8tSEK 2.5tSEK 171.0b25.1x28.3x1.9x
Sat, 27 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26.1x1.8x
Mon, 24 Nov 2025SEK 4.3tSEK 2.5tSEK 172.1b23.7x24.7x1.7x
Wed, 22 Oct 2025SEK 4.4tSEK 2.5tSEK 173.1b24.1x25.2x1.7x
Fri, 19 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.7x24.7x1.7x
Sun, 17 Aug 2025SEK 4.3tSEK 2.4tSEK 174.0b23.3x24.7x1.8x
Tue, 15 Jul 2025SEK 4.3tSEK 2.5tSEK 183.9b23.6x23.2x1.7x
Thu, 12 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b23.5x23x1.7x
Sat, 10 May 2025SEK 4.2tSEK 2.5tSEK 182.7b22.5x22.8x1.7x
Mon, 07 Apr 2025SEK 3.8tSEK 2.5tSEK 185.6b20.4x20.6x1.5x
Wed, 05 Mar 2025SEK 4.4tSEK 2.5tSEK 185.8b23.4x23.9x1.8x
Fri, 31 Jan 2025SEK 4.5tSEK 2.5tSEK 183.5b24x24.3x1.8x
Sun, 29 Dec 2024SEK 4.2tSEK 2.5tSEK 183.7b23.5x22.7x1.7x
Tue, 26 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b22.8x22.7x1.7x
Thu, 24 Oct 2024SEK 4.3tSEK 2.5tSEK 181.5b23.8x23.7x1.7x
Sat, 21 Sep 2024SEK 4.4tSEK 2.5tSEK 185.8b23.9x23.5x1.7x
Mon, 19 Aug 2024SEK 4.3tSEK 2.5tSEK 186.7b23.7x23x1.7x
Wed, 17 Jul 2024SEK 4.5tSEK 2.5tSEK 186.0b25x24.1x1.8x
Fri, 14 Jun 2024SEK 4.5tSEK 2.5tSEK 185.9b25.6x24.2x1.8x
Sun, 12 May 2024SEK 4.4tSEK 2.5tSEK 188.2b24.3x23.5x1.8x
Tue, 09 Apr 2024SEK 4.3tSEK 2.5tSEK 191.6b22x22.3x1.7x
Thu, 07 Mar 2024SEK 4.1tSEK 2.5tSEK 192.0b21x21.5x1.6x
Sat, 03 Feb 2024SEK 3.9tSEK 2.5tSEK 193.1b20.1x20.4x1.6x
Mon, 01 Jan 2024SEK 4.0tSEK 2.5tSEK 182.1b20.1x21.9x1.6x
Wed, 29 Nov 2023SEK 3.6tSEK 2.5tSEK 182.0b18x20x1.5x
Fri, 27 Oct 2023SEK 3.3tSEK 2.5tSEK 185.1b16.2x18x1.3x
Sun, 24 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.8x19.7x1.4x
Tue, 22 Aug 2023SEK 3.5tSEK 2.4tSEK 174.8b17.5x19.9x1.4x
Thu, 20 Jul 2023SEK 3.6tSEK 2.4tSEK 173.6b19x20.9x1.5x
Sat, 17 Jun 2023SEK 3.8tSEK 2.4tSEK 167.9b19.3x22.7x1.6x
Mon, 15 May 2023SEK 3.7tSEK 2.3tSEK 166.0b19x22.6x1.6x
Wed, 12 Apr 2023SEK 3.6tSEK 2.2tSEK 156.3b19.9x23.3x1.6x
Fri, 10 Mar 2023SEK 3.6tSEK 2.2tSEK 156.0b19.4x23.4x1.6x
Sun, 05 Feb 2023SEK 3.7tSEK 2.2tSEK 153.8b19.5x24.3x1.7x
Price to Earnings Ratio

24.3x


Total Market Cap: SEK 3.7tTotal Earnings: SEK 153.8bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.9x202420252026
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 28.2x which is higher than its 3-year average PE of 22.9x.
  • 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 3.8% per year over the last three years.
  • Revenues for these companies have grown 4.4% 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 Market1.03%
Industrials0.40%
Infrastructure3.36%
Electrical2.88%
Construction1.92%
Machinery1.59%
Airlines0%0
Transportation0%0
Industrials-0.61%
Professional Services-1.29%
Commercial Services-1.44%
Trade Distributors-1.54%
Building-1.65%
Aerospace & Defense-2.51%
Marine and Shipping-3.18%
Logistics-3.94%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 49.1x.
    • 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 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
EPI A EpirocSEK 251.209.0%
+SEK 25.2b		15.7%PE35.3x
VOLV B AB VolvoSEK 323.703.9%
+SEK 24.8b		4.5%PE18.5x
SAND SandvikSEK 346.405.7%
+SEK 23.6b		49.7%PE29.6x
SKF B AB SKFSEK 255.004.0%
+SEK 4.5b		13.0%PE23.9x
ALFA Alfa LavalSEK 507.001.4%
+SEK 2.9b		3.7%PE25.1x

Latest News

VOLV B
SEK 323.70
AB Volvo
7D
3.9%
1Y
4.5%
SAND
SEK 346.40
Sandvik
7D
5.7%
1Y
49.7%
ATCO A
SEK 181.95
Atlas Copco
7D
-4.1%
1Y
-0.05%
BEIJ B
SEK 134.85
Beijer Ref
7D
-2.4%
1Y
-18.7%
TREL B
SEK 384.00
Trelleborg
7D
2.1%
1Y
-8.8%

Getting In Cheap On Trelleborg AB (publ) (STO:TREL B) Is Unlikely

Jan 28
Getting In Cheap On Trelleborg AB (publ) (STO:TREL B) Is Unlikely
EPI A
SEK 251.20
Epiroc
7D
9.0%
1Y
15.7%

Automation Reliance And Concentrated Mining Exposure Will Challenge Long Term Earnings Resilience

Catalysts About Epiroc Epiroc supplies equipment, tools, automation and digital solutions for mining and infrastructure customers globally. What are the underlying business or industry changes driving this perspective?
ASSA B
SEK 358.10
ASSA ABLOY
7D
-1.5%
1Y
6.5%

ASSA B: Mixed Rating Shifts Will Support Cautious Yet Balanced Fair Outlook

Narrative Update The analyst price target for ASSA ABLOY has been adjusted slightly higher to SEK 377.84 from SEK 373.35, reflecting updated views on revenue growth, margins and future P/E assumptions. This comes even as recent Street research has included both a more cautious stance from Pareto and modest price target increases from Deutsche Bank and Morgan Stanley.
NIBE B
SEK 34.46
NIBE Industrier
7D
-2.7%
1Y
-22.2%

NIBE B: Index Removal Will Likely Expose Overstretched Earnings Multiple

Analysts have lifted their fair value estimate for NIBE Industrier from €24.49 to €31.30, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as the key drivers of this change. What's in the News NIBE Industrier AB has been removed from the OMX Nordic 40 Index, which may affect how some index funds and benchmarked investors hold or trade the shares (Key Developments).
SAAB B
SEK 706.30
Saab
7D
-2.3%
1Y
203.3%

SAAB B: Future Defence Orders Will Test Elevated P E Expectations

Analysts have trimmed their fair value estimate for Saab from SEK 374 to SEK 310, even as some Street research, including a recent move to SEK 460, reflects updated views on growth, margins and future P/E assumptions. Analyst Commentary Even with a highlighted fair value range that runs from SEK 310 to SEK 460, some research remains cautious on Saab, focusing on execution and valuation risks rather than simply the headline price targets.
INDT
SEK 221.00
Indutrade
7D
-2.0%
1Y
-26.3%

INDT: Expanded Acquisition Pipeline Will Support Long-Term Earnings Resilience

Analysts have trimmed their price target on Indutrade slightly to SEK 314.62 from SEK 320.21, citing updated assumptions that combine a small adjustment to discount rates with modest tweaks to growth, margins and the future P/E multiple. What's in the News Indutrade AB is actively looking for acquisitions, with management emphasizing a continued focus on acquiring "Indutrade like" companies rather than changing its approach.
VSURE
€14.04
Verisure
7D
-4.7%
1Y
n/a
ALFA
SEK 507.00
Alfa Laval
7D
1.4%
1Y
3.7%

ALFA: Rising P E Multiples Will Exceed Comfortable Execution Risk Limits

Analysts have increased their fair value estimate for Alfa Laval from SEK 348.52 to SEK 420.00. This change reflects updated assumptions around growth, profitability and P/E multiples, in line with higher Street price targets rising from SEK 468 to SEK 540.
LIFCO B
SEK 311.80
Lifco
7D
-2.3%
1Y
-11.5%

LIFCO B: Low Leverage And Ongoing Acquisitions Will Support Future Returns

Analysts have trimmed their price target on Lifco slightly to SEK 382.0 from SEK 384.4, reflecting modest adjustments to assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Lifco is actively looking for new acquisitions after its third quarter 2025 report, with the CEO reiterating that the group intends to keep searching for attractive companies across Europe that can support the future development of the group (Key Developments).
SKF B
SEK 255.00
AB SKF
7D
4.0%
1Y
13.0%

SKF B: Index Inclusion And Clean Tech Initiatives Will Temper Mixed Rating Outlook

Analysts have nudged their fair value estimate for AB SKF to SEK 268.53 from SEK 264.44, reflecting recent Street research in which some firms raised price targets while others turned more cautious on growth assumptions and valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts lifting price targets toward the mid SEK 200s signal confidence that the current share price still leaves room for upside in their models.
SWEC B
SEK 147.60
Sweco
7D
3.8%
1Y
-13.3%

Sweco AB (publ) (STO:SWEC B) Investors Are Less Pessimistic Than Expected

Jan 19
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LATO B
SEK 225.60
Investment AB Latour
7D
1.2%
1Y
-21.4%

Should You Think About Buying Investment AB Latour (publ) (STO:LATO B) Now?

Jan 19
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