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Swedish (OMX) Industrials Sector Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies157
  • 7D3.3%
  • 3M7.4%
  • 1Y10.8%
  • YTD3.2%

The Industrials industry is up 4.3% in the last week, with Atlas Copco up 8.3%. In the last 12 months, the industry was up 12%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 09 Jan 2026SEK 4.7tSEK 2.5tSEK 172.2b25.7x27.3x1.9x
Sun, 07 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.2x26.3x1.8x
Tue, 04 Nov 2025SEK 4.4tSEK 2.5tSEK 172.4b24.4x25.5x1.8x
Thu, 02 Oct 2025SEK 4.3tSEK 2.5tSEK 175.5b23.5x24.4x1.7x
Sat, 30 Aug 2025SEK 4.3tSEK 2.5tSEK 175.5b23.4x24.5x1.7x
Mon, 28 Jul 2025SEK 4.3tSEK 2.4tSEK 172.8b24.8x25x1.8x
Wed, 25 Jun 2025SEK 4.1tSEK 2.5tSEK 184.0b22.5x22.4x1.6x
Fri, 23 May 2025SEK 4.2tSEK 2.5tSEK 184.1b22.2x22.8x1.7x
Sun, 20 Apr 2025SEK 3.9tSEK 2.5tSEK 188.1b20.3x20.9x1.6x
Tue, 18 Mar 2025SEK 4.5tSEK 2.5tSEK 185.8b23.4x24.4x1.8x
Thu, 13 Feb 2025SEK 4.5tSEK 2.5tSEK 185.6b23.9x24.5x1.8x
Sat, 11 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.7x1.7x
Mon, 09 Dec 2024SEK 4.4tSEK 2.5tSEK 183.9b23.1x24x1.8x
Wed, 06 Nov 2024SEK 4.3tSEK 2.5tSEK 181.7b23.7x23.8x1.7x
Fri, 04 Oct 2024SEK 4.4tSEK 2.5tSEK 185.3b23.1x23.9x1.8x
Sun, 01 Sep 2024SEK 4.4tSEK 2.5tSEK 185.9b24.5x23.8x1.7x
Tue, 30 Jul 2024SEK 4.4tSEK 2.5tSEK 189.0b25.6x23.1x1.7x
Thu, 27 Jun 2024SEK 4.3tSEK 2.5tSEK 186.0b24.2x23.2x1.7x
Sat, 25 May 2024SEK 4.5tSEK 2.5tSEK 186.3b24.4x24.2x1.8x
Mon, 22 Apr 2024SEK 4.1tSEK 2.5tSEK 192.7b21.3x21.5x1.6x
Wed, 20 Mar 2024SEK 4.2tSEK 2.5tSEK 192.1b21.7x22.1x1.7x
Fri, 16 Feb 2024SEK 4.0tSEK 2.5tSEK 193.3b21.7x20.7x1.6x
Sun, 14 Jan 2024SEK 3.9tSEK 2.5tSEK 182.0b20.8x21.3x1.6x
Tue, 12 Dec 2023SEK 3.9tSEK 2.5tSEK 182.2b19.2x21.2x1.5x
Thu, 09 Nov 2023SEK 3.4tSEK 2.5tSEK 180.9b16.7x19x1.4x
Sat, 07 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.3x19.7x1.4x
Mon, 04 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b18.3x20.2x1.5x
Wed, 02 Aug 2023SEK 3.7tSEK 2.4tSEK 174.7b19.2x21.3x1.5x
Fri, 30 Jun 2023SEK 3.7tSEK 2.4tSEK 167.9b19.3x22.2x1.6x
Sun, 28 May 2023SEK 3.8tSEK 2.4tSEK 167.5b18.7x22.4x1.6x
Tue, 25 Apr 2023SEK 3.7tSEK 2.3tSEK 162.6b20.4x22.9x1.6x
Thu, 23 Mar 2023SEK 3.5tSEK 2.2tSEK 156.1b19.3x22.7x1.6x
Sat, 18 Feb 2023SEK 3.7tSEK 2.2tSEK 156.6b20.7x23.5x1.6x
Mon, 16 Jan 2023SEK 3.5tSEK 2.2tSEK 162.6b18.5x21.8x1.6x
Price to Earnings Ratio

21.8x


Total Market Cap: SEK 3.5tTotal Earnings: SEK 162.6bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.8x202420252026
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 27.5x which is higher than its 3-year average PE of 22.8x.
  • 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 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 Market1.34%
Industrials3.35%
Aerospace & Defense18.41%
Machinery3.64%
Construction2.98%
Commercial Services2.01%
Professional Services0.93%
Infrastructure0.70%
Marine and Shipping0.68%
Building0.21%
Airlines0%0
Transportation0%0
Logistics-0.74%
Trade Distributors-1.30%
Industrials-1.49%
Electrical-3.88%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 44.6x.
    • 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 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 641.4019.3%
+SEK 55.8b		174.9%PE66.4x
ATCO A Atlas CopcoSEK 176.106.1%
+SEK 48.9b		-0.4%PE31.1x
VOLV B AB VolvoSEK 306.703.6%
+SEK 22.0b		7.1%PE17.5x
SAND SandvikSEK 310.903.4%
+SEK 12.9b		49.6%PE26.4x
EPI A EpirocSEK 218.904.3%
+SEK 10.9b		12.8%PE30.7x

Latest News

AQ
SEK 190.30
AQ Group
7D
-3.5%
1Y
34.1%

AQ Group AB (publ)'s (STO:AQ) Business Is Yet to Catch Up With Its Share Price

Jan 09
AQ Group AB (publ)'s (STO:AQ) Business Is Yet to Catch Up With Its Share Price
ATCO A
SEK 176.10
Atlas Copco
7D
6.1%
1Y
-0.4%
ALFA
SEK 478.40
Alfa Laval
7D
2.7%
1Y
1.2%

ALFA: Raised Guidance And Partnerships Will Support Balanced Medium Term Prospects

Narrative Update Alfa Laval's analyst price targets have moved slightly higher, with updated fair value now at SEK 479.33. Analysts are referencing recent target increases to SEK 540 and SEK 484 as support for this new level.
LIFCO B
SEK 342.80
Lifco
7D
-2.6%
1Y
5.8%

LIFCO B: Low Leverage And Acquisitions Will Support Steady Long Term Outlook

Analysts have nudged their price target on Lifco higher to SEK384.40 from SEK380.50, citing updated assumptions that include slightly adjusted revenue growth expectations, a modestly higher projected profit margin, a small change in the discount rate and a marginally higher future P/E multiple. What's in the News Lifco AB highlights interest bearing net debt to EBITDA at 1.3x, which management describes as a low level that supports continued acquisition activity (Third Quarter Report 2025).
SAAB B
SEK 641.40
Saab
7D
19.3%
1Y
174.9%
SWEC B
SEK 148.10
Sweco
7D
-1.9%
1Y
-10.9%

A Look At The Fair Value Of Sweco AB (publ) (STO:SWEC B)

Jan 07
A Look At The Fair Value Of Sweco AB (publ) (STO:SWEC B)
TREL B
SEK 384.40
Trelleborg
7D
-2.1%
1Y
-1.9%

TREL B: Fair Value View Will Reflect Slight Margin And P/E Adjustments

Analysts have trimmed their fair value estimate for Trelleborg slightly, to SEK 415.25 from SEK 416.25. Recent Street research shows a modest uplift in the cited SEK 370 price target, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E.
EPI A
SEK 218.90
Epiroc
7D
4.3%
1Y
12.8%

Here's Why Epiroc (STO:EPI A) Can Manage Its Debt Responsibly

Jan 05
Here's Why Epiroc (STO:EPI A) Can Manage Its Debt Responsibly
ASSA B
SEK 358.30
ASSA ABLOY
7D
-0.2%
1Y
10.5%

These 4 Measures Indicate That ASSA ABLOY (STO:ASSA B) Is Using Debt Reasonably Well

Jan 04
These 4 Measures Indicate That ASSA ABLOY (STO:ASSA B) Is Using Debt Reasonably Well
SAND
SEK 310.90
Sandvik
7D
3.4%
1Y
49.6%

Here's Why Sandvik (STO:SAND) Has Caught The Eye Of Investors

Jan 03
Here's Why Sandvik (STO:SAND) Has Caught The Eye Of Investors
SKA B
SEK 267.70
Skanska
7D
6.1%
1Y
16.9%

Skanska AB (publ)'s (STO:SKA B) Intrinsic Value Is Potentially 47% Above Its Share Price

Dec 29
Skanska AB (publ)'s (STO:SKA B) Intrinsic Value Is Potentially 47% Above Its Share Price
VOLV B
SEK 306.70
AB Volvo
7D
3.6%
1Y
7.1%

Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist

Dec 28
Investors Will Want AB Volvo's (STO:VOLV B) Growth In ROCE To Persist
INDT
SEK 237.80
Indutrade
7D
-1.1%
1Y
-15.7%

INDT: Buy-And-Build Acquisitions Will Drive Long-Term Earnings Resilience

Analysts have reduced their price target on Indutrade to approximately SEK 320 from SEK 400, reflecting a more conservative valuation multiple, despite slightly stronger growth and margin assumptions following recent downgrades to Hold. Analyst Commentary Bullish analysts acknowledge the recent downgrade to Hold but highlight that the revised assumptions still embed a constructive long term view on Indutrade, underpinned by resilient end market demand and disciplined capital allocation.
BEIJ B
SEK 144.95
Beijer Ref
7D
-2.8%
1Y
-5.3%

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
OEM B
SEK 139.40
OEM International
7D
-4.1%
1Y
25.8%
VSURE
€14.57
Verisure
7D
4.1%
1Y
n/a