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Swedish (OMX) Industrials Sector Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies157
  • 7D-1.1%
  • 3M6.2%
  • 1Y7.8%
  • YTD6.2%

Over the last 7 days, the Industrials industry has dropped 1.1%, driven by a pullback from ASSA ABLOY of 2.3%. In the past year, the industry has gained 7.8%. 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
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
Thu, 11 May 2023SEK 3.7tSEK 2.3tSEK 165.5b18.7x22.4x1.6x
Sat, 08 Apr 2023SEK 3.6tSEK 2.2tSEK 156.3b19.6x22.9x1.6x
Mon, 06 Mar 2023SEK 3.7tSEK 2.2tSEK 156.0b19.7x23.6x1.6x
Wed, 01 Feb 2023SEK 3.5tSEK 2.2tSEK 155.4b19.1x22.8x1.6x
Price to Earnings Ratio

22.8x


Total Market Cap: SEK 3.5tTotal Earnings: SEK 155.4bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.9x202420252026
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 28.1x which is higher than its 3-year average PE of 22.9x.
  • 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 3.5% per year over the last three years.
  • Revenues for these companies have grown 4.6% 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-1.18%
Industrials-1.05%
Marine and Shipping1.93%
Aerospace & Defense1.01%
Airlines0%0
Transportation0%0
Logistics-0.15%
Machinery-0.24%
Infrastructure-0.24%
Commercial Services-1.76%
Building-2.20%
Construction-2.20%
Professional Services-2.63%
Electrical-2.99%
Industrials-4.10%
Trade Distributors-4.59%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 48.2x.
    • 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 110% over the next 5 years.
  • In contrast, the Machinery 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
SAND SandvikSEK 333.101.8%
+SEK 7.3b		43.6%PE28.3x
SAAB B SaabSEK 718.801.6%
+SEK 5.9b		207.4%PE74.4x
VOLV B AB VolvoSEK 315.100.9%
+SEK 5.5b		7.4%PE18x
SECU B SecuritasSEK 147.051.3%
+SEK 1.1b		6.6%PE16.7x
SYSR SystemairSEK 90.202.7%
+SEK 498.1m		7.4%PE27.1x

Latest News

ATCO A
SEK 189.60
Atlas Copco
7D
-0.8%
1Y
-1.5%

Atlas Copco AB (publ)'s (STO:ATCO A) Shares May Have Run Too Fast Too Soon

Jan 25
Atlas Copco AB (publ)'s (STO:ATCO A) Shares May Have Run Too Fast Too Soon
VOLV B
SEK 315.10
AB Volvo
7D
0.9%
1Y
7.4%

VOLV B: Truck Downturn And Execution Challenges Will Likely Restrain Future Earnings

Analysts have raised their AB Volvo price targets, revising them from SEK 305 to SEK 323 and from SEK 267 to SEK 333. These changes reflect differing views on near term truck demand, as well as potential benefits from tariffs, lower interest rates, and new product launches.
SAAB B
SEK 718.80
Saab
7D
1.6%
1Y
207.4%

SAAB B: Future Defence Orders Will Test Elevated P E Expectations

Analysts have trimmed their fair value estimate for Saab from SEK 374 to SEK 310, even as some Street research, including a recent move to SEK 460, reflects updated views on growth, margins and future P/E assumptions. Analyst Commentary Even with a highlighted fair value range that runs from SEK 310 to SEK 460, some research remains cautious on Saab, focusing on execution and valuation risks rather than simply the headline price targets.
INDT
SEK 227.20
Indutrade
7D
-4.1%
1Y
-24.8%

INDT: Expanded Acquisition Pipeline Will Support Long-Term Earnings Resilience

Analysts have trimmed their price target on Indutrade slightly to SEK 314.62 from SEK 320.21, citing updated assumptions that combine a small adjustment to discount rates with modest tweaks to growth, margins and the future P/E multiple. What's in the News Indutrade AB is actively looking for acquisitions, with management emphasizing a continued focus on acquiring "Indutrade like" companies rather than changing its approach.
VSURE
€14.26
Verisure
7D
-4.6%
1Y
n/a
LIFCO B
SEK 317.20
Lifco
7D
-5.3%
1Y
-9.3%

LIFCO B: Low Leverage And Ongoing Acquisitions Will Support Future Returns

Analysts have trimmed their price target on Lifco slightly to SEK 382.0 from SEK 384.4, reflecting modest adjustments to assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Lifco is actively looking for new acquisitions after its third quarter 2025 report, with the CEO reiterating that the group intends to keep searching for attractive companies across Europe that can support the future development of the group (Key Developments).
ADDT B
SEK 299.40
Addtech AB (publ.)
7D
-5.1%
1Y
-6.1%

Earnings Not Telling The Story For Addtech AB (publ.) (STO:ADDT B)

Jan 22
Earnings Not Telling The Story For Addtech AB (publ.) (STO:ADDT B)
BEIJ B
SEK 137.40
Beijer Ref
7D
-4.7%
1Y
-17.9%
MTRS
SEK 175.90
Munters Group
7D
1.4%
1Y
-12.6%

MTRS: AI Infrastructure Orders Will Test Execution And Support Fair Valuation

Analysts have raised their price targets on Munters Group to as high as SEK 195, with a central updated fair value estimate of SEK 175. This reflects their focus on the company's role in artificial intelligence infrastructure and its recent quarterly performance.
GOMX
SEK 23.95
GomSpace Group
7D
9.9%
1Y
514.9%
LATO B
SEK 225.90
Investment AB Latour
7D
-3.6%
1Y
-20.9%

Should You Think About Buying Investment AB Latour (publ) (STO:LATO B) Now?

Jan 19
Should You Think About Buying Investment AB Latour (publ) (STO:LATO B) Now?
ASSA B
SEK 366.10
ASSA ABLOY
7D
-2.3%
1Y
8.3%

ASSA ABLOY AB (publ)'s (STO:ASSA B) Share Price Could Signal Some Risk

Jan 18
ASSA ABLOY AB (publ)'s (STO:ASSA B) Share Price Could Signal Some Risk
SAND
SEK 333.10
Sandvik
7D
1.8%
1Y
43.6%

SAND: Higher P/E Assumptions Will Expose Execution Risk Going Forward

Analysts have lifted their price target on Sandvik from about SEK 177 to SEK 212, reflecting updated assumptions on growth, profitability and P/E that are in line with recent target increases from Citi, RBC and Rothschild & Co Redburn. Analyst Commentary Recent Street research around Sandvik has centered on refreshed price targets and rating changes, giving you a clearer sense of how the market is framing risk and reward.
SECU B
SEK 147.05
Securitas
7D
1.3%
1Y
6.6%

SECU B: Upcoming Investor Day Will Clarify Risk Profile Assumptions

Analysts have adjusted their price target on Securitas from €190 to €175, citing updated assumptions for revenue growth, profit margin and future P/E. They state that these assumptions better reflect the current risk profile of the business.
SYSR
SEK 90.20
Systemair
7D
2.7%
1Y
7.4%
COOR
SEK 52.05
Coor Service Management Holding
7D
7.5%
1Y
72.7%

Some Investors May Be Willing To Look Past Coor Service Management Holding's (STO:COOR) Soft Earnings

Nov 05
Some Investors May Be Willing To Look Past Coor Service Management Holding's (STO:COOR) Soft Earnings