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Swedish (OMX) Industrials Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies157
  • 7D-6.8%
  • 3M3.9%
  • 1Y3.1%
  • YTD3.2%

Over the last 7 days, the Industrials industry has dropped 6.8%, driven by a pullback from Atlas Copco of 10%. On the other hand Hexatronic Group is actually up 9.0%. This takes the industry's 12 month performance to a gain of 3.1%. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026SEK 4.8tSEK 2.5tSEK 167.0b23.1x28.5x1.9x
Mon, 02 Feb 2026SEK 4.8tSEK 2.5tSEK 167.2b24.7x28.8x1.9x
Wed, 31 Dec 2025SEK 4.5tSEK 2.5tSEK 172.3b25.5x26.4x1.8x
Fri, 28 Nov 2025SEK 4.4tSEK 2.5tSEK 172.2b24.2x25.6x1.8x
Sun, 26 Oct 2025SEK 4.5tSEK 2.5tSEK 172.6b24.5x26.2x1.8x
Tue, 23 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23x24.6x1.7x
Thu, 21 Aug 2025SEK 4.3tSEK 2.4tSEK 173.8b23.5x24.9x1.8x
Sat, 19 Jul 2025SEK 4.2tSEK 2.4tSEK 172.3b24.1x24.6x1.7x
Mon, 16 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b22.7x22.6x1.6x
Wed, 14 May 2025SEK 4.3tSEK 2.5tSEK 182.7b23.4x23.7x1.7x
Fri, 11 Apr 2025SEK 3.8tSEK 2.7tSEK 185.2b20.3x20.7x1.4x
Sun, 09 Mar 2025SEK 4.6tSEK 2.5tSEK 187.3b23.8x24.6x1.8x
Tue, 04 Feb 2025SEK 4.5tSEK 2.5tSEK 182.6b23.2x24.7x1.8x
Thu, 02 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.6x1.7x
Sat, 30 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b23x22.8x1.7x
Mon, 28 Oct 2024SEK 4.3tSEK 2.5tSEK 182.1b23.6x23.7x1.7x
Wed, 25 Sep 2024SEK 4.4tSEK 2.5tSEK 185.8b23.8x23.6x1.7x
Fri, 23 Aug 2024SEK 4.3tSEK 2.5tSEK 186.2b23.9x23.1x1.7x
Sun, 21 Jul 2024SEK 4.4tSEK 2.5tSEK 191.1b24.9x23x1.7x
Tue, 18 Jun 2024SEK 4.3tSEK 2.5tSEK 185.9b25.7x23.3x1.7x
Thu, 16 May 2024SEK 4.5tSEK 2.5tSEK 188.4b24x23.6x1.8x
Sat, 13 Apr 2024SEK 4.2tSEK 2.5tSEK 191.6b21.6x22x1.7x
Mon, 11 Mar 2024SEK 4.2tSEK 2.5tSEK 192.0b21.1x21.8x1.7x
Wed, 07 Feb 2024SEK 3.9tSEK 2.5tSEK 194.6b20.5x20.1x1.6x
Fri, 05 Jan 2024SEK 3.9tSEK 2.5tSEK 182.1b20x21.3x1.5x
Sun, 03 Dec 2023SEK 3.7tSEK 2.5tSEK 182.0b18.2x20.4x1.5x
Tue, 31 Oct 2023SEK 3.3tSEK 2.5tSEK 185.9b16x17.9x1.3x
Thu, 28 Sep 2023SEK 3.4tSEK 2.4tSEK 176.1b17.6x19.4x1.4x
Sat, 26 Aug 2023SEK 3.5tSEK 2.4tSEK 175.8b17.5x19.9x1.4x
Mon, 24 Jul 2023SEK 3.6tSEK 2.4tSEK 174.6b18.9x20.9x1.5x
Wed, 21 Jun 2023SEK 3.7tSEK 2.4tSEK 167.9b19.1x22.2x1.6x
Fri, 19 May 2023SEK 3.7tSEK 2.3tSEK 167.5b18.6x22.4x1.6x
Sun, 16 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b20.4x23.9x1.7x
Tue, 14 Mar 2023SEK 3.5tSEK 2.2tSEK 156.1b18.8x22.4x1.6x
Price to Earnings Ratio

22.4x


Total Market Cap: SEK 3.5tTotal 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 28.5x 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 1.9x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 2.3% 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-5.13%
Industrials-6.79%
Marine and Shipping3.67%
Airlines0%0
Transportation0%0
Aerospace & Defense-0.092%
Electrical-0.11%
Logistics-0.90%
Infrastructure-1.11%
Professional Services-1.33%
Commercial Services-4.04%
Construction-4.46%
Trade Distributors-6.26%
Building-6.84%
Industrials-7.06%
Machinery-8.21%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 72.6x.
    • Analysts are expecting annual earnings growth of 24.3%, which is higher than its past year's earnings decline of 10.4% 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
HTRO Hexatronic GroupSEK 30.169.0%
+SEK 514.1m		-0.2%PS0.8x
GOTL A Rederiaktiebolaget GotlandSEK 2.56k5.8%
+SEK 350.0m		24.3%PE74.9x
FMM B FM MattssonSEK 86.608.5%
+SEK 287.7m		72.5%PE25.3x
INTRUM IntrumSEK 40.293.6%
+SEK 187.9m		38.9%PS0.3x
KARNEL B Karnell GroupSEK 63.003.4%
+SEK 112.1m		28.6%PE23.8x

Latest News

ATCO A
SEK 174.75
Atlas Copco
7D
-10.4%
1Y
-4.7%
BTS B
SEK 140.80
BTS Group
7D
3.1%
1Y
-48.2%

BTS B: Higher Revenue Outlook And Dividend Proposal Will Support Future Upside

Analysts have trimmed their BTS Group price target by SEK 13 to SEK 153.5, reflecting updated assumptions for slightly higher revenue growth, a lower profit margin, a modestly higher discount rate, and a small adjustment to expected future P/E. What's in the News BTS Group AB (publ) has proposed a dividend of SEK 4.40 per share, compared with SEK 6.10 previously.
ASSA B
SEK 359.40
ASSA ABLOY
7D
-6.8%
1Y
6.6%
SKF B
SEK 236.10
AB SKF
7D
-9.1%
1Y
-0.7%
HTRO
SEK 30.16
Hexatronic Group
7D
9.0%
1Y
-0.2%
FMM B
SEK 86.60
FM Mattsson
7D
8.5%
1Y
72.5%
VOLV B
SEK 329.20
AB Volvo
7D
-6.4%
1Y
-1.3%
LIFCO B
SEK 299.00
Lifco
7D
-7.1%
1Y
-19.4%

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.
INISS B
SEK 60.40
Inission
7D
8.2%
1Y
54.1%
SAND
SEK 366.30
Sandvik
7D
-8.3%
1Y
56.7%

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 244.60
Epiroc
7D
-10.0%
1Y
15.7%

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).
KARNEL B
SEK 63.00
Karnell Group
7D
3.4%
1Y
28.6%
LATO B
SEK 210.40
Investment AB Latour
7D
-8.8%
1Y
-28.4%
INTRUM
SEK 40.29
Intrum
7D
3.6%
1Y
38.9%
PLEJD
SEK 668.00
Plejd
7D
1.2%
1Y
n/a
GOTL A
SEK 2,560.00
Rederiaktiebolaget Gotland
7D
5.8%
1Y
24.3%

Why Rederiaktiebolaget Gotland's (STO:GOTL A) Shaky Earnings Are Just The Beginning Of Its Problems

Nov 30
Why Rederiaktiebolaget Gotland's (STO:GOTL A) Shaky Earnings Are Just The Beginning Of Its Problems