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Swedish (OMX) Industrials Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies159
  • 7D5.6%
  • 3M0.7%
  • 1Y23.6%
  • YTD5.6%

Over the last 7 days, the Industrials industry has risen 5.6%, driven by gains from Atlas Copco of 7.8%. This means that the industry has gained 24% over the past year. 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
Tue, 14 Apr 2026SEK 4.9tSEK 2.5tSEK 166.3b25.3x29.3x2x
Thu, 12 Mar 2026SEK 4.8tSEK 2.5tSEK 167.0b23.8x28.6x1.9x
Sat, 07 Feb 2026SEK 5.0tSEK 2.5tSEK 166.7b24.9x30x2x
Mon, 05 Jan 2026SEK 4.6tSEK 2.5tSEK 172.2b25.6x26.4x1.8x
Wed, 03 Dec 2025SEK 4.4tSEK 2.5tSEK 172.2b24.5x25.5x1.8x
Fri, 31 Oct 2025SEK 4.5tSEK 2.5tSEK 172.1b25.1x26x1.8x
Sun, 28 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23x24.3x1.7x
Tue, 26 Aug 2025SEK 4.4tSEK 2.5tSEK 175.5b23.3x24.9x1.7x
Thu, 24 Jul 2025SEK 4.3tSEK 2.4tSEK 171.0b24.4x25.3x1.8x
Sat, 21 Jun 2025SEK 4.1tSEK 2.5tSEK 184.0b22.3x22.3x1.6x
Mon, 19 May 2025SEK 4.3tSEK 2.5tSEK 183.8b23.1x23.5x1.7x
Wed, 16 Apr 2025SEK 4.0tSEK 2.5tSEK 185.6b20.5x21.7x1.6x
Fri, 14 Mar 2025SEK 4.5tSEK 2.5tSEK 185.7b23.1x24x1.8x
Sun, 09 Feb 2025SEK 4.5tSEK 2.5tSEK 185.4b23.3x24.1x1.8x
Tue, 07 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.7x22.8x1.7x
Thu, 05 Dec 2024SEK 4.4tSEK 2.5tSEK 183.9b23.1x23.9x1.8x
Sat, 02 Nov 2024SEK 4.3tSEK 2.5tSEK 181.7b23.7x23.5x1.7x
Mon, 30 Sep 2024SEK 4.5tSEK 2.5tSEK 185.3b23.7x24.3x1.8x
Wed, 28 Aug 2024SEK 4.3tSEK 2.5tSEK 186.3b23.6x23.2x1.7x
Fri, 26 Jul 2024SEK 4.3tSEK 2.5tSEK 189.4b24.3x22.9x1.7x
Sun, 23 Jun 2024SEK 4.3tSEK 2.5tSEK 186.0b25.6x23.4x1.7x
Tue, 21 May 2024SEK 4.5tSEK 2.5tSEK 186.2b24x24.1x1.8x
Thu, 18 Apr 2024SEK 4.2tSEK 2.5tSEK 192.6b21.4x21.8x1.7x
Sat, 16 Mar 2024SEK 4.3tSEK 2.5tSEK 192.1b21.6x22.2x1.7x
Mon, 12 Feb 2024SEK 3.9tSEK 2.5tSEK 193.2b20.6x20.4x1.6x
Wed, 10 Jan 2024SEK 3.8tSEK 2.5tSEK 182.1b20.5x21.1x1.5x
Fri, 08 Dec 2023SEK 3.8tSEK 2.5tSEK 182.0b18.6x20.8x1.5x
Sun, 05 Nov 2023SEK 3.5tSEK 2.5tSEK 184.5b16.4x18.8x1.4x
Tue, 03 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.6x19.8x1.4x
Thu, 31 Aug 2023SEK 3.6tSEK 2.4tSEK 176.1b18x20.2x1.5x
Sat, 29 Jul 2023SEK 3.7tSEK 2.4tSEK 174.6b19.3x21.3x1.5x
Mon, 26 Jun 2023SEK 3.7tSEK 2.4tSEK 167.9b18.8x21.9x1.6x
Wed, 24 May 2023SEK 3.8tSEK 2.3tSEK 167.5b19.1x22.5x1.6x
Fri, 21 Apr 2023SEK 3.7tSEK 2.3tSEK 162.2b20.3x23x1.6x
Price to Earnings Ratio

23x


Total Market Cap: SEK 3.7tTotal Earnings: SEK 162.2bTotal 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 29.3x 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 2.8% 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 Market4.42%
Industrials5.64%
Electrical7.43%
Industrials7.24%
Construction6.99%
Machinery6.95%
Building6.45%
Marine and Shipping5.40%
Trade Distributors4.95%
Logistics4.69%
Professional Services1.23%
Commercial Services0.86%
Airlines0%0
Transportation0%0
Infrastructure-2.73%
Aerospace & Defense-3.11%
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 42.9%, 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 51% 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 183.3510.3%
+SEK 83.5b		19.3%PE33.8x
SAND SandvikSEK 399.608.0%
+SEK 37.0b		111.1%PE34.1x
VOLV B AB VolvoSEK 322.804.5%
+SEK 28.5b		26.0%PE19.1x
ASSA B ASSA ABLOYSEK 368.406.9%
+SEK 26.4b		29.8%PE27.8x
EPI A EpirocSEK 254.408.6%
+SEK 24.4b		33.4%PE35.8x

Latest News

EPI A
SEK 254.40
Epiroc
7D
8.6%
1Y
33.4%
SKF B
SEK 242.70
AB SKF
7D
8.7%
1Y
35.6%
ASSA B
SEK 368.40
ASSA ABLOY
7D
6.9%
1Y
29.8%
SAND
SEK 399.60
Sandvik
7D
8.0%
1Y
111.1%

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.
VOLV B
SEK 322.80
AB Volvo
7D
4.5%
1Y
26.0%
SVED B
SEK 66.10
Svedbergs Group
7D
-1.5%
1Y
40.2%
ATCO A
SEK 183.35
Atlas Copco
7D
10.3%
1Y
19.3%

ATCO A: Special Dividend And Operating Leverage Will Support Future Upside

Narrative Update Analysts have made a small downward tweak to the Atlas Copco price target, trimming it by SEK 0.25, as they balance mixed recent broker actions with slightly adjusted assumptions for revenue, profit margins and future P/E. Analyst Commentary Recent research on Atlas Copco has been mixed, with several firms adjusting ratings and price targets in different directions over a short period.
SAAB B
SEK 615.80
Saab
7D
-1.4%
1Y
38.1%

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

Saab's analyst price targets have moved higher, with recent updates pointing toward SEK 516 to SEK 540 as analysts factor in revised fair value assumptions and updated expectations for growth, margins and future P/E levels. Analyst Commentary Recent price target updates for Saab cluster in the SEK 516 to SEK 540 range, with analysts adjusting their fair value views while still expressing caution through Underweight and Sell ratings.
ALFA
SEK 557.40
Alfa Laval
7D
6.4%
1Y
39.7%

ALFA: Fair Outlook Balances Tanker Demand Opportunities With Execution And Pricing Risks

Alfa Laval's analyst fair value estimate has moved from SEK 479.33 to SEK 518.13. Analysts attribute this change to higher price targets from JPMorgan, Deutsche Bank and Morgan Stanley, along with updated assumptions for revenue growth, profit margin and future P/E as key drivers of this shift.
FNM
SEK 41.80
Ferronordic
7D
-8.3%
1Y
-7.7%
W5
SEK 49.20
W5 Solutions
7D
-3.1%
1Y
-31.1%

W5: New Defence Order Will Drive Earnings Momentum Over Coming Years

Analysts have lifted their fair value estimate for W5 Solutions from SEK 66 to SEK 85.5, pointing to updated assumptions around the discount rate, revenue growth, profit margin and future P/E as key drivers of the new price target. What's in the News Business area Integration received an order worth SEK 148 million from Kongsberg Defence & Aerospace for design, manufacturing and integration of advanced shelter solutions for operator stations in a mobile and modular defence system, with deliveries planned during 2026–2027 (company announcement).
LATO B
SEK 221.90
Investment AB Latour
7D
9.3%
1Y
-17.1%
FREETR
DKK 82.60
Freetrailer Group
7D
-1.9%
1Y
85.6%
INFREA
SEK 15.25
Infrea
7D
-6.7%
1Y
19.1%
ABSO
SEK 188.00
Absolent Air Care Group
7D
-1.1%
1Y
-23.6%
ARGO
SEK 15.02
Argo Defence Group
7D
-7.9%
1Y
n/a