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Swedish (OMX) Industrials Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies157
  • 7D0.5%
  • 3M4.9%
  • 1Y8.2%
  • YTD5.8%

Last week, the Industrials industry hasn't moved much but Saab is up 5.0% in that time. The past year has been better, since the industry has gained 8.2% in that time. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26.1x1.8x
Sat, 22 Nov 2025SEK 4.3tSEK 2.5tSEK 172.1b23.7x24.7x1.7x
Mon, 20 Oct 2025SEK 4.3tSEK 2.5tSEK 172.8b23.6x24.8x1.7x
Wed, 17 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.6x24.4x1.7x
Fri, 15 Aug 2025SEK 4.3tSEK 2.4tSEK 174.0b23.4x24.6x1.8x
Sun, 13 Jul 2025SEK 4.3tSEK 2.5tSEK 183.9b23.6x23.5x1.7x
Tue, 10 Jun 2025SEK 4.2tSEK 2.5tSEK 183.8b24x23.1x1.7x
Thu, 08 May 2025SEK 4.1tSEK 2.5tSEK 182.8b22.6x22.6x1.6x
Sat, 05 Apr 2025SEK 3.8tSEK 2.5tSEK 185.6b20.4x20.6x1.5x
Mon, 03 Mar 2025SEK 4.6tSEK 2.5tSEK 185.8b24.7x24.6x1.8x
Wed, 29 Jan 2025SEK 4.4tSEK 2.5tSEK 183.8b23.7x24.1x1.8x
Fri, 27 Dec 2024SEK 4.1tSEK 2.5tSEK 183.7b23.1x22.6x1.7x
Sun, 24 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b23x22.7x1.7x
Tue, 22 Oct 2024SEK 4.3tSEK 2.5tSEK 181.2b23.4x23.9x1.7x
Thu, 19 Sep 2024SEK 4.3tSEK 2.5tSEK 185.8b23.9x23.1x1.7x
Sat, 17 Aug 2024SEK 4.3tSEK 2.5tSEK 187.9b23.7x22.8x1.7x
Mon, 15 Jul 2024SEK 4.5tSEK 2.5tSEK 186.0b25x24.2x1.8x
Wed, 12 Jun 2024SEK 4.4tSEK 2.5tSEK 185.9b25.2x23.7x1.8x
Fri, 10 May 2024SEK 4.4tSEK 2.5tSEK 188.2b23.6x23.1x1.7x
Sun, 07 Apr 2024SEK 4.2tSEK 2.5tSEK 191.6b21.9x22.2x1.7x
Tue, 05 Mar 2024SEK 4.1tSEK 2.5tSEK 192.3b21.1x21.5x1.6x
Thu, 01 Feb 2024SEK 3.9tSEK 2.5tSEK 192.9b19.8x20.2x1.5x
Sat, 30 Dec 2023SEK 4.0tSEK 2.5tSEK 182.1b20.1x21.9x1.6x
Mon, 27 Nov 2023SEK 3.7tSEK 2.5tSEK 182.0b18.1x20.2x1.5x
Wed, 25 Oct 2023SEK 3.3tSEK 2.5tSEK 182.6b16.1x18x1.3x
Fri, 22 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.9x19.9x1.4x
Sun, 20 Aug 2023SEK 3.5tSEK 2.4tSEK 174.5b18x20x1.4x
Tue, 18 Jul 2023SEK 3.6tSEK 2.4tSEK 168.2b18.6x21.7x1.5x
Thu, 15 Jun 2023SEK 3.9tSEK 2.4tSEK 167.9b19.6x23x1.6x
Sat, 13 May 2023SEK 3.7tSEK 2.3tSEK 165.6b19x22.6x1.6x
Mon, 10 Apr 2023SEK 3.6tSEK 2.2tSEK 156.3b19.6x22.9x1.6x
Wed, 08 Mar 2023SEK 3.7tSEK 2.2tSEK 156.0b19.3x23.5x1.6x
Fri, 03 Feb 2023SEK 3.7tSEK 2.2tSEK 153.9b19.6x24.3x1.7x
Sun, 01 Jan 2023SEK 3.3tSEK 2.2tSEK 162.6b18.3x20.2x1.5x
Price to Earnings Ratio

20.2x


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 22.7x202320242025
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 Market0.69%
Industrials0.54%
Aerospace & Defense4.66%
Logistics3.97%
Commercial Services1.87%
Electrical1.79%
Professional Services0.44%
Trade Distributors0.22%
Construction0.21%
Machinery0.20%
Industrials0.047%
Airlines0%0
Transportation0%0
Building-0.22%
Infrastructure-2.77%
Marine and Shipping-3.31%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 41.5x.
    • 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 529.205.0%
+SEK 13.5b		125.0%PE54.8x
ATCO A Atlas CopcoSEK 164.951.1%
+SEK 8.5b		-2.2%PE29.1x
VSURE Verisure€14.473.6%
+€523.2m		n/aPS4.1x
ALFA Alfa LavalSEK 461.401.0%
+SEK 1.9b		-0.1%PE22.9x
SAND SandvikSEK 296.300.4%
+SEK 1.5b		49.1%PE25.1x

Latest News

MTRS
SEK 171.30
Munters Group
7D
-4.6%
1Y
-6.3%

MTRS: Standout Q3 AI Infrastructure Demand Will Drive Future Cash Flow Durability

Analysts have raised their fair value estimate for Munters Group to SEK 199 from SEK 188, citing a standout Q3 that underscored the company's growing role as a critical supplier to artificial intelligence infrastructure. Analyst Commentary Analysts remain broadly constructive on Munters Group following the latest price target increase, highlighting the company's execution in high growth end markets and its sharpened strategic focus on artificial intelligence infrastructure.
SAND
SEK 296.30
Sandvik
7D
0.4%
1Y
49.1%
BEIJ B
SEK 147.30
Beijer Ref
7D
-0.6%
1Y
-11.1%

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
VOLV B
SEK 291.90
AB Volvo
7D
-0.8%
1Y
9.7%

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.
ALFA
SEK 461.40
Alfa Laval
7D
1.0%
1Y
-0.1%

ALFA: Raised Guidance And Partnerships Will Support Sustainable Medium Term Performance

We raise our analyst price target on Alfa Laval to SEK 479 from SEK 470, reflecting analysts' increased confidence in slightly faster revenue growth, a marginally lower discount rate, and a modestly higher future valuation multiple supported by recent target upgrades across the Street. Analyst Commentary Analyst sentiment around Alfa Laval remains skewed positively, with multiple recent target increases and at least one rating upgrade signaling rising conviction in the company’s medium term growth and earnings trajectory.
ATCO A
SEK 164.95
Atlas Copco
7D
1.1%
1Y
-2.2%
LIFCO B
SEK 349.40
Lifco
7D
0.3%
1Y
8.8%
NIBE B
SEK 34.81
NIBE Industrier
7D
-0.9%
1Y
-17.5%

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.
HUSQ B
SEK 45.38
Husqvarna
7D
-1.6%
1Y
-20.5%

HUSQ B: Recovery Roadmap And AI Mowers Will Unlock Future Upside

Analysts have trimmed their fair value estimate for Husqvarna from SEK 65.50 to SEK 62.30, reflecting a slightly higher perceived risk profile and limited upside until management presents a clearer recovery and growth plan, even as revenue growth and profit margins are expected to improve. Analyst Commentary Recent Street research reflects a cautiously constructive stance on Husqvarna, with the lowered price targets framed more as a recalibration of risk and timing rather than a wholesale change in the long term investment case.
SAAB B
SEK 529.20
Saab
7D
5.0%
1Y
125.0%

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.
TREL B
SEK 387.90
Trelleborg
7D
1.1%
1Y
2.7%

TREL B: Shares Will Reflect Modest Margin Progress And Easing Discount Rate Risk

Analysts have nudged their price target on Trelleborg slightly higher, lifting the fair value estimate from SEK 415.25 to SEK 416.25 as modestly lower discount rates and a marginally stronger long term profit outlook support a small upward revision. Analyst Commentary Recent Street research suggests that while the latest price target increase is modest, it reflects a gradual improvement in confidence around Trelleborg's medium term prospects rather than a radical shift in outlook.
SWEC B
SEK 148.30
Sweco
7D
-2.6%
1Y
-10.0%

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
-1.2%
1Y
7.0%

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
3.6%
1Y
n/a
LATO B
SEK 222.20
Investment AB Latour
7D
-0.6%
1Y
-19.4%

Investment AB Latour (publ) (STO:LATO B) Investors Are Less Pessimistic Than Expected

Nov 26
Investment AB Latour (publ) (STO:LATO B) Investors Are Less Pessimistic Than Expected
PEAB B
SEK 84.45
Peab
7D
3.2%
1Y
9.3%

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