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Swedish (OMX) Industrials Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies157
  • 7D-0.6%
  • 3M-0.08%
  • 1Y10.4%
  • YTD3.1%

The Industrials industry has been flat over the last week, but Saab has lost 7.2%. The past year has been better, since the industry has gained 11% in that time. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026SEK 4.7tSEK 2.4tSEK 166.2b23.9x28.5x1.9x
Mon, 04 May 2026SEK 4.7tSEK 2.4tSEK 165.5b23.6x28.6x1.9x
Wed, 01 Apr 2026SEK 4.5tSEK 2.5tSEK 166.7b23.2x27.2x1.8x
Fri, 27 Feb 2026SEK 5.1tSEK 2.5tSEK 165.9b24.5x30.6x2.1x
Sun, 25 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.3x28.1x1.9x
Tue, 23 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.2x26.1x1.8x
Thu, 20 Nov 2025SEK 4.3tSEK 2.5tSEK 172.1b23.7x24.7x1.7x
Sat, 18 Oct 2025SEK 4.3tSEK 2.5tSEK 175.3b23.6x24.5x1.7x
Mon, 15 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.5x24.7x1.7x
Wed, 13 Aug 2025SEK 4.3tSEK 2.4tSEK 173.0b24.3x24.6x1.7x
Fri, 11 Jul 2025SEK 4.4tSEK 2.5tSEK 183.9b24.1x23.8x1.7x
Sun, 08 Jun 2025SEK 4.3tSEK 2.5tSEK 183.8b24.3x23.3x1.7x
Tue, 06 May 2025SEK 4.2tSEK 2.5tSEK 181.8b22.3x22.9x1.7x
Thu, 03 Apr 2025SEK 4.2tSEK 2.5tSEK 185.6b21.5x22.6x1.7x
Sat, 01 Mar 2025SEK 4.6tSEK 2.5tSEK 185.9b24.5x24.8x1.8x
Mon, 27 Jan 2025SEK 4.5tSEK 2.5tSEK 183.8b23.7x24.4x1.8x
Wed, 25 Dec 2024SEK 4.1tSEK 2.5tSEK 183.7b23.1x22.6x1.7x
Fri, 22 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b22.8x22.5x1.7x
Sun, 20 Oct 2024SEK 4.4tSEK 2.5tSEK 181.9b23.7x24.1x1.7x
Tue, 17 Sep 2024SEK 4.3tSEK 2.5tSEK 185.8b23.4x23x1.7x
Thu, 15 Aug 2024SEK 4.2tSEK 2.5tSEK 189.0b23.5x22.5x1.7x
Sat, 13 Jul 2024SEK 4.5tSEK 2.5tSEK 186.0b25.9x24.2x1.8x
Mon, 10 Jun 2024SEK 4.4tSEK 2.5tSEK 185.9b25x23.9x1.8x
Wed, 08 May 2024SEK 4.3tSEK 2.5tSEK 188.3b23.9x23.1x1.7x
Fri, 05 Apr 2024SEK 4.3tSEK 2.5tSEK 191.6b22.1x22.3x1.7x
Sun, 03 Mar 2024SEK 4.1tSEK 2.5tSEK 193.3b21.2x21.4x1.6x
Tue, 30 Jan 2024SEK 3.8tSEK 2.5tSEK 192.8b19.8x20x1.5x
Thu, 28 Dec 2023SEK 4.0tSEK 2.5tSEK 182.1b19.7x21.9x1.6x
Sat, 25 Nov 2023SEK 3.7tSEK 2.5tSEK 182.0b18.1x20.2x1.5x
Mon, 23 Oct 2023SEK 3.3tSEK 2.5tSEK 182.1b16.2x18.1x1.3x
Wed, 20 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.5x20x1.4x
Fri, 18 Aug 2023SEK 3.5tSEK 2.4tSEK 174.2b18.1x20.1x1.4x
Sun, 16 Jul 2023SEK 3.6tSEK 2.4tSEK 168.3b18.6x21.7x1.5x
Tue, 13 Jun 2023SEK 3.8tSEK 2.4tSEK 167.9b19.3x22.8x1.6x
Price to Earnings Ratio

22.8x


Total Market Cap: SEK 3.8tTotal Earnings: SEK 167.9bTotal Revenue: SEK 2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23.6x202420252026
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 28.7x which is higher than its 3-year average PE of 23.6x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Industrials industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

Which industries have driven the changes within the Swedish Industrials sector?

SE Market-1.09%
Industrials-0.63%
Machinery0.45%
Airlines0%0
Transportation0%0
Industrials-0.23%
Building-0.65%
Marine and Shipping-0.72%
Infrastructure-0.95%
Trade Distributors-1.07%
Logistics-1.55%
Commercial Services-2.02%
Construction-2.70%
Electrical-2.98%
Professional Services-3.56%
Aerospace & Defense-6.72%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 39.6x.
    • 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 47% over the next 5 years.
  • This is better than its past earnings decline of 35% per year.
  • In contrast, the Trade Distributors 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 179.251.0%
+SEK 8.8b		13.6%PE33.5x
ALFA Alfa LavalSEK 539.403.9%
+SEK 8.3b		30.2%PE27.3x
SAND SandvikSEK 379.800.9%
+SEK 4.1b		77.6%PE32.1x
TREL B TrelleborgSEK 416.003.1%
+SEK 2.8b		17.9%PE25.6x
LIFCO B LifcoSEK 302.601.7%
+SEK 2.4b		-25.4%PE37.2x

Latest News

SKA B
SEK 245.20
Skanska
7D
-2.1%
1Y
5.6%
SAAB B
SEK 528.40
Saab
7D
-7.2%
1Y
3.3%
MTRS
SEK 206.70
Munters Group
7D
6.7%
1Y
54.3%
Narrative Update • Jun 05

MTRS: Data Center Cooling Dependence Will Challenge AI Infrastructure Hopes

Analysts have lifted their fair value estimate for Munters Group by SEK 10 to SEK 185, citing higher assumed revenue growth, slightly stronger profit margins, a lower future P/E and recent research that highlights the company as a high quality data center cooling play. Analyst Commentary Recent research highlights a split in how analysts view Munters Group.
VOLV B
SEK 321.50
AB Volvo
7D
-1.2%
1Y
22.2%
NIBE B
SEK 36.99
NIBE Industrier
7D
2.0%
1Y
-6.4%
Narrative Update • Jun 04

NIBE B: Tariffs And Margin Cut Will Pressure Future Earnings Assumptions

The analyst price target for NIBE Industrier has been revised lower from SEK31.30 to SEK26.85 as analysts factor in updated assumptions for the discount rate, revenue growth, profit margin and future P/E following recent Street research, including the resumed Outperform coverage. What's in the News Annual General Meeting approved a dividend and confirmed the company’s financial statements, giving investors clarity on the latest reported year, source: AGM announcement, 20 May 2026.
ADDT B
SEK 324.80
Addtech AB (publ.)
7D
-1.4%
1Y
-4.3%
Narrative Update • Jun 04

ADDT B: Higher Revenue Assumptions And Q4 Margin Strength Will Drive Repricing

Analysts have modestly raised their average price target for Addtech AB (publ.) from SEK 368 to about SEK 371.71, citing updated assumptions around revenue growth, discount rate, profit margins, and future P/E as key inputs behind the revision. What's in the News Q4 2026 earnings call highlighted an EBITDA margin of 17.3%, supported by product mix and acquisitions.
ASSA B
SEK 326.80
ASSA ABLOY
7D
-1.8%
1Y
4.9%
Narrative Update • Jun 03

ASSA B: Canadian Expansion And Mixed Research Views Will Shape Rich Multiple Risks

The analyst price target for ASSA ABLOY has been revised from SEK 304.64 to SEK 340.00. Analysts point to updated assumptions on revenue growth, profit margins, and future P/E multiples, along with a mix of recent upgrades and a price target cut in recent Street research, to support the new view.
ALFA
SEK 539.40
Alfa Laval
7D
3.9%
1Y
30.2%
Narrative Update • Jun 03

ALFA: Fair Outlook Weighs Tanker Order Upside Against Execution And Pricing Risks

Narrative Update on Alfa Laval The updated analyst price target for Alfa Laval rises from about SEK 518 to SEK 547. This reflects adjustments to fair value and underlying assumptions such as revenue growth, profit margin and discount rate, as analysts balance recent target trims and downgrades with several target increases and an upgrade to Equal Weight.
SAND
SEK 379.80
Sandvik
7D
0.9%
1Y
77.6%
Narrative Update • Jun 02

SAND: Higher P/E Assumptions Will Test Mining Cycle Delivery Timing

Sandvik's updated fair value estimate has moved from SEK 226.86 to SEK 268.47. Analysts point to a series of recent price target adjustments and mixed rating changes that reflect revised assumptions for growth, margins and future P/E expectations.
TREL B
SEK 416.00
Trelleborg
7D
3.1%
1Y
17.9%
Narrative Update • Jun 01

TREL B: Future View Will Balance Citi Cut Against Expanded Buyback Plans

Analysts have made a small upward adjustment to their fair value estimate for Trelleborg, lifting the price target by about SEK 3 to SEK 415.55. This reflects updated assumptions on discount rate, revenue growth and future P/E, while incorporating recent Street research including Citi's SEK 10 price target cut.
EPI A
SEK 273.20
Epiroc
7D
-0.5%
1Y
25.7%
SKF B
SEK 246.60
AB SKF
7D
1.5%
1Y
15.2%
Narrative Update • May 28

SKF B: Mixed Rating Shifts Will Shape Balanced SEK 257 Return Profile

AB SKF’s updated analyst price target has been adjusted slightly lower to about SEK 257 as analysts weigh mixed recent target changes and ratings shifts against updated assumptions for growth, margins and P/E. Analyst Commentary Recent research shows a mix of upgraded ratings alongside both higher and lower price targets, which leaves the stock sitting in the middle of a tug of war between confidence in execution and questions around valuation and earnings power.
LIFCO B
SEK 302.60
Lifco
7D
1.7%
1Y
-25.4%
ATCO A
SEK 179.25
Atlas Copco
7D
1.0%
1Y
13.6%
VSURE
€10.98
Verisure
7D
-3.9%
1Y
n/a
LATO B
SEK 196.20
Investment AB Latour
7D
-1.7%
1Y
-23.5%