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Swedish (OMX) Industrials Sector Analysis

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies157
  • 7D0.4%
  • 3M4.9%
  • 1Y7.6%
  • YTD5.8%

Last week, the Industrials industry hasn't moved much but Saab is up 4.0% in that time. As for the the longer term, the industry is up 7.6% over the past 12 months. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26.1x1.8x
Tue, 25 Nov 2025SEK 4.3tSEK 2.5tSEK 172.1b23.9x24.9x1.7x
Thu, 23 Oct 2025SEK 4.4tSEK 2.5tSEK 173.3b24.2x25.4x1.8x
Sat, 20 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.4x24.6x1.7x
Mon, 18 Aug 2025SEK 4.3tSEK 2.4tSEK 174.0b23.3x24.7x1.8x
Wed, 16 Jul 2025SEK 4.3tSEK 2.5tSEK 183.9b23.8x23.3x1.7x
Fri, 13 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b23.2x22.8x1.7x
Sun, 11 May 2025SEK 4.2tSEK 2.5tSEK 182.7b22.5x22.8x1.7x
Tue, 08 Apr 2025SEK 3.7tSEK 2.5tSEK 185.6b19.5x19.7x1.5x
Thu, 06 Mar 2025SEK 4.6tSEK 2.5tSEK 185.8b23.7x24.7x1.8x
Sat, 01 Feb 2025SEK 4.5tSEK 2.5tSEK 183.6b23.8x24.5x1.8x
Mon, 30 Dec 2024SEK 4.2tSEK 2.5tSEK 183.7b23.5x22.7x1.7x
Wed, 27 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b22.8x22.5x1.7x
Fri, 25 Oct 2024SEK 4.3tSEK 2.5tSEK 181.9b23.7x23.5x1.7x
Sun, 22 Sep 2024SEK 4.4tSEK 2.5tSEK 185.8b24.1x23.4x1.7x
Tue, 20 Aug 2024SEK 4.3tSEK 2.5tSEK 186.7b23.9x23.1x1.7x
Thu, 18 Jul 2024SEK 4.5tSEK 2.5tSEK 185.7b25.1x24x1.8x
Sat, 15 Jun 2024SEK 4.3tSEK 2.5tSEK 185.9b25.5x23.3x1.7x
Mon, 13 May 2024SEK 4.4tSEK 2.5tSEK 188.2b24.3x23.5x1.8x
Wed, 10 Apr 2024SEK 4.2tSEK 2.5tSEK 191.6b21.9x22.2x1.7x
Fri, 08 Mar 2024SEK 4.1tSEK 2.5tSEK 192.0b20.9x21.6x1.6x
Sun, 04 Feb 2024SEK 3.9tSEK 2.5tSEK 193.0b20.1x20.4x1.6x
Tue, 02 Jan 2024SEK 4.0tSEK 2.5tSEK 182.1b20.1x21.9x1.6x
Thu, 30 Nov 2023SEK 3.7tSEK 2.5tSEK 182.0b18.1x20.3x1.5x
Sat, 28 Oct 2023SEK 3.3tSEK 2.5tSEK 185.8b15.8x17.8x1.3x
Mon, 25 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.8x19.7x1.4x
Wed, 23 Aug 2023SEK 3.5tSEK 2.4tSEK 175.8b17.4x19.8x1.4x
Fri, 21 Jul 2023SEK 3.7tSEK 2.4tSEK 174.3b19.1x21x1.5x
Sun, 18 Jun 2023SEK 3.8tSEK 2.4tSEK 167.9b19.3x22.7x1.6x
Tue, 16 May 2023SEK 3.8tSEK 2.3tSEK 166.0b19.1x22.7x1.6x
Thu, 13 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b20.1x23.6x1.6x
Sat, 11 Mar 2023SEK 3.6tSEK 2.2tSEK 156.0b19.3x22.9x1.6x
Mon, 06 Feb 2023SEK 3.7tSEK 2.2tSEK 154.5b19.5x24.2x1.7x
Wed, 04 Jan 2023SEK 3.3tSEK 2.2tSEK 162.6b18.5x20.6x1.6x
Price to Earnings Ratio

20.6x


Total Market Cap: SEK 3.3tTotal Earnings: SEK 162.6bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.7x20242025
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 26.1x which is higher than its 3-year average PE of 22.7x.
  • The industry is trading close to its 3-year average PS ratio of 1.7x.
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 Market0.44%
Industrials0.41%
Aerospace & Defense3.87%
Commercial Services1.84%
Electrical1.35%
Professional Services1.04%
Construction0.35%
Logistics0.32%
Machinery0.046%
Airlines0%0
Transportation0%0
Building-0.015%
Industrials-0.06%
Trade Distributors-0.11%
Infrastructure-1.70%
Marine and Shipping-3.39%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 41.9x.
    • 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 529.204.0%
+SEK 11.0b		125.4%PE54.8x
VSURE Verisure€14.473.7%
+€535.6m		n/aPS4.1x
ATCO A Atlas CopcoSEK 164.950.5%
+SEK 4.4b		-3.0%PE29.1x
TREL B TrelleborgSEK 387.901.0%
+SEK 903.1m		1.9%PE23.7x
SAND SandvikSEK 296.300.2%
+SEK 752.6m		48.4%PE25.1x

Latest News

TREL B
SEK 387.90
Trelleborg
7D
1.0%
1Y
1.9%

Is Trelleborg (STO:TREL B) Using Too Much Debt?

Dec 27
Is Trelleborg (STO:TREL B) Using Too Much Debt?
SECU B
SEK 145.30
Securitas
7D
-0.6%
1Y
5.4%

SECU B: Future Returns Likely To Disappoint Despite Upcoming Investor Day

Analysts have maintained their price target for Securitas at $114.00, as only marginal adjustments to discount rates, long term revenue expectations, and profit margin forecasts leave their overall valuation view effectively unchanged. What's in the News Securitas has scheduled an Analyst and Investor Day to provide a strategic and financial update to the market, which may signal clarification of its long term growth and margin ambitions (Key Developments).
ATCO A
SEK 164.95
Atlas Copco
7D
0.5%
1Y
-3.0%

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?
SAND
SEK 296.30
Sandvik
7D
0.2%
1Y
48.4%
BEIJ B
SEK 147.30
Beijer Ref
7D
-0.4%
1Y
-10.5%

Beijer Ref (STO:BEIJ B) Has Some Way To Go To Become A Multi-Bagger

Dec 21
Beijer Ref (STO:BEIJ B) Has Some Way To Go To Become A Multi-Bagger
ASSA B
SEK 355.40
ASSA ABLOY
7D
-0.1%
1Y
8.6%

ASSA B Will Face Limited Upside As Rich Pricing Meets Execution Risks

Analysts have raised their price target on ASSA ABLOY from about SEK 260 to roughly SEK 310, citing stronger expected revenue growth, slightly higher profit margins, and an upwardly revised future price-to-earnings multiple. Analyst Commentary Recent Street research on ASSA ABLOY has featured a series of incremental price target increases, but the prevailing stance from several bearish analysts remains one of caution rather than conviction.
SKA B
SEK 251.40
Skanska
7D
0.6%
1Y
8.3%

SKA B: Higher Construction Margins Are Expected To Reverse And Pressure Shares

Analysts have raised their fair value estimate for Skanska from approximately SEK 160 to about SEK 225 per share, citing higher expected profitability and a richer future earnings multiple, despite slightly more conservative growth assumptions and a modestly higher discount rate. Analyst Commentary Recent Street research shows that, while some targets have been revised upward in response to stronger profitability, bearish analysts remain cautious on the durability of Skanska’s earnings momentum and the balance of risk and reward at current levels.
VOLV B
SEK 291.90
AB Volvo
7D
-0.8%
1Y
8.8%

VOLV B: Future Earnings Durability Will Face Rising Margin And Cycle Risks

We are nudging our fair value estimate for AB Volvo higher to SEK 245 from SEK 240 as analysts, despite trimming near term growth and margin expectations and slightly increasing the discount rate, continue to see support from resilient profitability and valuation metrics that justify a modestly higher future earnings multiple. Analyst Commentary Recent Street research on AB Volvo reflects a mixed but increasingly cautious stance, with several bearish analysts trimming price targets despite the company’s resilient fundamentals.
LIFCO B
SEK 349.40
Lifco
7D
-0.7%
1Y
8.6%
NIBE B
SEK 34.81
NIBE Industrier
7D
-0.5%
1Y
-17.9%

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 529.20
Saab
7D
4.0%
1Y
125.4%

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.
SWEC B
SEK 148.30
Sweco
7D
-1.3%
1Y
-9.6%

SWEC B: New Long Term Infrastructure Contracts Will Support Future Earnings

Analysts have raised their price target for Sweco slightly to imply a fair value of €197.00. This reflects modest tweaks to their discount rate and long term valuation assumptions rather than any material change in revenue growth or profit margin expectations.
EPI A
SEK 205.70
Epiroc
7D
-0.5%
1Y
6.3%

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
€14.47
Verisure
7D
3.7%
1Y
n/a
STOR B
SEK 11.41
Storskogen Group
7D
2.5%
1Y
-0.5%
PEAB B
SEK 84.45
Peab
7D
2.1%
1Y
7.6%

Peab's (STO:PEAB B) Shareholders May Want To Dig Deeper Than Statutory Profit

Nov 02
Peab's (STO:PEAB B) Shareholders May Want To Dig Deeper Than Statutory Profit