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Swedish (OMX) Industrials Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies157
  • 7D-3.1%
  • 3M7.5%
  • 1Y6.7%
  • YTD6.4%

Over the last 7 days, the Industrials industry has risen 1.2%, driven by gains from Saab of 2.2%. In the same time, Atlas Copco was down 5.9%. This takes the industry's 12 month performance to a gain of 9.5%. 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
Thu, 05 Mar 2026SEK 4.9tSEK 2.5tSEK 166.8b23.7x29.4x2x
Sat, 31 Jan 2026SEK 4.8tSEK 2.5tSEK 168.2b24.6x28.6x1.9x
Mon, 29 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26.1x1.8x
Wed, 26 Nov 2025SEK 4.4tSEK 2.5tSEK 172.1b24.1x25.3x1.7x
Fri, 24 Oct 2025SEK 4.4tSEK 2.5tSEK 173.1b24.2x25.6x1.8x
Sun, 21 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.4x24.6x1.7x
Tue, 19 Aug 2025SEK 4.3tSEK 2.4tSEK 174.0b23.4x24.5x1.7x
Thu, 17 Jul 2025SEK 4.2tSEK 2.5tSEK 181.1b23.8x23.3x1.7x
Sat, 14 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b22.7x22.6x1.6x
Mon, 12 May 2025SEK 4.2tSEK 2.5tSEK 182.7b22.5x22.8x1.7x
Wed, 09 Apr 2025SEK 3.7tSEK 2.5tSEK 185.6b20.1x20.2x1.5x
Fri, 07 Mar 2025SEK 4.6tSEK 2.5tSEK 187.3b23.8x24.7x1.8x
Sun, 02 Feb 2025SEK 4.5tSEK 2.5tSEK 182.6b23.8x24.7x1.8x
Tue, 31 Dec 2024SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.6x1.7x
Thu, 28 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b22.8x22.6x1.7x
Sat, 26 Oct 2024SEK 4.3tSEK 2.5tSEK 182.1b23.1x23.7x1.7x
Mon, 23 Sep 2024SEK 4.4tSEK 2.5tSEK 185.8b24.1x23.5x1.7x
Wed, 21 Aug 2024SEK 4.3tSEK 2.5tSEK 186.7b23.9x23x1.7x
Fri, 19 Jul 2024SEK 4.4tSEK 2.5tSEK 186.1b24.9x23.9x1.8x
Sun, 16 Jun 2024SEK 4.3tSEK 2.5tSEK 185.9b25.5x23.3x1.7x
Tue, 14 May 2024SEK 4.4tSEK 2.5tSEK 188.2b24.3x23.4x1.7x
Thu, 11 Apr 2024SEK 4.3tSEK 2.5tSEK 191.6b21.9x22.2x1.7x
Sat, 09 Mar 2024SEK 4.2tSEK 2.5tSEK 192.0b21.1x21.8x1.7x
Mon, 05 Feb 2024SEK 3.9tSEK 2.5tSEK 193.0b20.1x20.4x1.6x
Wed, 03 Jan 2024SEK 4.0tSEK 2.5tSEK 182.1b19.8x21.7x1.6x
Fri, 01 Dec 2023SEK 3.7tSEK 2.5tSEK 182.0b18.6x20.3x1.5x
Sun, 29 Oct 2023SEK 3.3tSEK 2.5tSEK 185.9b15.8x17.8x1.3x
Tue, 26 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.7x19.6x1.4x
Thu, 24 Aug 2023SEK 3.5tSEK 2.4tSEK 175.8b17.4x19.9x1.4x
Sat, 22 Jul 2023SEK 3.6tSEK 2.4tSEK 174.6b18.9x20.9x1.5x
Mon, 19 Jun 2023SEK 3.8tSEK 2.4tSEK 167.9b19.3x22.7x1.6x
Wed, 17 May 2023SEK 3.7tSEK 2.3tSEK 166.6b18.8x22.4x1.6x
Fri, 14 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b20.3x23.6x1.6x
Sun, 12 Mar 2023SEK 3.6tSEK 2.2tSEK 156.1b19.3x22.9x1.6x
Price to Earnings Ratio

22.9x


Total Market Cap: SEK 3.6tTotal Earnings: SEK 156.1bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23.1x202420252026
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 29.3x which is higher than its 3-year average PE of 23.1x.
  • 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 grown 2.0% 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 Market-2.22%
Industrials-3.13%
Electrical1.92%
Aerospace & Defense1.80%
Professional Services1.75%
Airlines0%0
Transportation0%0
Marine and Shipping-0.96%
Building-1.28%
Construction-1.96%
Trade Distributors-2.02%
Infrastructure-2.12%
Logistics-2.20%
Commercial Services-2.79%
Industrials-3.62%
Machinery-4.34%
Industry PE
  • Investors are most optimistic about the Commercial Services industry which is trading above its 3-year average PE ratio of 31.7x.
    • Analysts are expecting annual earnings growth of 35.4%, 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 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 662.802.2%
+SEK 7.6b		79.8%PE56.5x
NIBE B NIBE IndustrierSEK 36.102.8%
+SEK 2.0b		-12.5%PE32x
HTRO Hexatronic GroupSEK 29.0310.3%
+SEK 559.3m		1.1%PS0.8x
AQ AQ GroupSEK 188.603.2%
+SEK 541.2m		13.4%PE25.6x
AFRY AfrySEK 133.002.2%
+SEK 328.4m		-28.1%PE18.8x

Latest News

ATCO A
SEK 184.30
Atlas Copco
7D
-5.9%
1Y
-0.1%
IDUN B
SEK 323.00
Idun Industrier
7D
7.7%
1Y
-3.9%
AFRY
SEK 133.00
Afry
7D
2.2%
1Y
-28.1%

AFRY: Higher Discount Rate Will Still Support Attractive Upside Potential

Analysts have reduced their price target on Afry from SEK165 to SEK145. The revision reflects updated assumptions for a higher discount rate, slightly softer revenue growth, a lower profit margin and a marginally reduced future P/E multiple.
SKF B
SEK 242.60
AB SKF
7D
-6.0%
1Y
4.3%
HTRO
SEK 29.03
Hexatronic Group
7D
10.3%
1Y
1.1%
FMM B
SEK 83.00
FM Mattsson
7D
9.8%
1Y
63.4%
VOLV B
SEK 340.00
AB Volvo
7D
-2.8%
1Y
4.1%
VSURE
€8.84
Verisure
7D
-5.7%
1Y
n/a

Underpenetrated Security Markets And AI Efficiencies Will Support Compounding Subscription Cash Flows

Catalysts About Verisure Verisure provides monitored home and small business security through a subscription model built around owned hardware, professional monitoring and human intervention. What are the underlying business or industry changes driving this perspective?
LIFCO B
SEK 305.60
Lifco
7D
-4.0%
1Y
-18.2%

LIFCO B: Stable Dividend And Earnings Profile Will Support Future Returns

Lifco's analyst price target remains steady at SEK361, with only marginal tweaks to inputs such as discount rate, revenue growth, profit margin, and future P/E. These adjustments have led analysts to reiterate rather than reset their valuation view.
NIBE B
SEK 36.10
NIBE Industrier
7D
2.8%
1Y
-12.5%
SAAB B
SEK 662.80
Saab
7D
2.2%
1Y
79.8%
SAND
SEK 380.00
Sandvik
7D
-4.4%
1Y
64.4%

SAND: Higher Multiple Assumptions Will Likely Constrain Future Share Returns

Our updated fair value estimate for Sandvik moves to SEK 329.30 from SEK 282.56. This reflects analysts' refreshed price targets around SEK 350 and above, which are supported by assumptions of higher revenue growth, stronger profit margins, and a slightly richer future P/E multiple.
EPI A
SEK 254.70
Epiroc
7D
-4.6%
1Y
22.2%

EPI A: Index Addition Will Coincide With Cautious Stance On Rich P/E

Analysts have nudged their fair value estimate for Epiroc slightly higher from SEK 232.45 to SEK 232.95, reflecting modest adjustments to the discount rate, long term revenue growth, profit margin assumptions, and future P/E expectations. What's in the News Epiroc AB (publ) has been added to the OMX Nordic 40 Index, which can influence how index funds and ETFs that track this benchmark gain exposure to the stock (Key Developments).
AQ
SEK 188.60
AQ Group
7D
3.2%
1Y
13.4%

AQ: Future Upside Will Rely On Accretive Acquisitions And Firmer Margins

The analyst price target for AQ Group has been adjusted slightly higher from SEK 200 to SEK 203.5. Analysts cite updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers behind this change. What's in the News AQ Group AB (publ) has proposed a dividend of SEK 1.80 per share for 2025, compared with SEK 1.60 per share previously, which may be relevant if you focus on income from your holdings.
LATO B
SEK 215.00
Investment AB Latour
7D
-3.8%
1Y
-25.7%
INTRUM
SEK 39.02
Intrum
7D
4.0%
1Y
38.4%