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Swedish (OMX) Industrials Sector Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies157
  • 7D-7.4%
  • 3M-2.2%
  • 1Y-1.5%
  • YTD-3.8%

Over the last 7 days, the Industrials industry has dropped 2.4%, driven by declines in AB Volvo and Atlas Copco of 12% and 8.8%, respectively. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Mar 2026SEK 4.4tSEK 2.5tSEK 166.7b23.4x26.6x1.8x
Sun, 15 Feb 2026SEK 5.0tSEK 2.5tSEK 166.3b23.8x29.9x2x
Tue, 13 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.9x27.8x1.9x
Thu, 11 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26x1.8x
Sat, 08 Nov 2025SEK 4.3tSEK 2.5tSEK 172.0b24.6x25.2x1.7x
Mon, 06 Oct 2025SEK 4.4tSEK 2.5tSEK 175.5b24.3x25.1x1.8x
Wed, 03 Sep 2025SEK 4.2tSEK 2.5tSEK 175.5b23.1x24x1.7x
Fri, 01 Aug 2025SEK 4.3tSEK 2.4tSEK 173.0b24.6x24.7x1.7x
Sun, 29 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b23.4x23.1x1.7x
Tue, 27 May 2025SEK 4.2tSEK 2.5tSEK 183.9b23.2x23x1.7x
Thu, 24 Apr 2025SEK 4.0tSEK 2.5tSEK 182.8b20.7x22x1.6x
Sat, 22 Mar 2025SEK 4.4tSEK 2.5tSEK 185.8b23.1x23.8x1.8x
Mon, 17 Feb 2025SEK 4.6tSEK 2.5tSEK 186.1b25.1x24.9x1.8x
Wed, 15 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.5x22.6x1.7x
Fri, 13 Dec 2024SEK 4.3tSEK 2.5tSEK 183.8b23.4x23.6x1.7x
Sun, 10 Nov 2024SEK 4.3tSEK 2.5tSEK 185.8b23.7x23.4x1.7x
Tue, 08 Oct 2024SEK 4.4tSEK 2.5tSEK 185.3b23.2x23.9x1.8x
Thu, 05 Sep 2024SEK 4.3tSEK 2.5tSEK 185.7b24.4x23x1.7x
Sat, 03 Aug 2024SEK 4.2tSEK 2.5tSEK 189.0b24.3x22x1.6x
Mon, 01 Jul 2024SEK 4.3tSEK 2.5tSEK 186.1b25.1x23.3x1.7x
Wed, 29 May 2024SEK 4.5tSEK 2.5tSEK 186.3b24.9x24x1.8x
Fri, 26 Apr 2024SEK 4.2tSEK 2.5tSEK 190.2b22.6x21.9x1.7x
Sun, 24 Mar 2024SEK 4.4tSEK 2.5tSEK 192.1b21.8x22.7x1.7x
Tue, 20 Feb 2024SEK 4.0tSEK 2.5tSEK 192.4b22.9x21x1.6x
Thu, 18 Jan 2024SEK 3.8tSEK 2.5tSEK 182.0b20.6x20.7x1.5x
Sat, 16 Dec 2023SEK 4.0tSEK 2.5tSEK 182.0b19.3x21.8x1.6x
Mon, 13 Nov 2023SEK 3.5tSEK 2.5tSEK 180.7b16.8x19.1x1.4x
Wed, 11 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b17.4x20.1x1.4x
Fri, 08 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b18.2x20.2x1.5x
Sun, 06 Aug 2023SEK 3.7tSEK 2.4tSEK 174.7b18.8x20.9x1.5x
Tue, 04 Jul 2023SEK 3.7tSEK 2.4tSEK 167.9b18.6x22.2x1.6x
Thu, 01 Jun 2023SEK 3.7tSEK 2.4tSEK 167.5b18.6x22x1.6x
Sat, 29 Apr 2023SEK 3.8tSEK 2.3tSEK 163.9b19.7x23x1.6x
Mon, 27 Mar 2023SEK 3.4tSEK 2.2tSEK 156.3b18.8x22.1x1.5x
Price to Earnings Ratio

22.1x


Total Market Cap: SEK 3.4tTotal Earnings: SEK 156.3bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23.2x202420252026
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 27.9x which is higher than its 3-year average PE of 23.2x.
  • 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 2.2% 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-4.67%
Industrials-7.41%
Infrastructure0.53%
Airlines0%0
Transportation0%0
Marine and Shipping-1.33%
Electrical-1.56%
Commercial Services-1.66%
Aerospace & Defense-2.23%
Logistics-2.58%
Professional Services-2.77%
Construction-4.21%
Trade Distributors-4.25%
Industrials-5.90%
Building-7.40%
Machinery-9.46%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 77.2x.
    • Analysts are expecting annual earnings growth of 23.9%, 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
VSURE Verisure€8.672.5%
+€220.2m		n/aPS2.4x
HTRO Hexatronic GroupSEK 32.204.2%
+SEK 267.3m		11.3%PS0.9x
SUMMAS Summa Defence OyjSEK 12.9025.2%
+SEK 118.8m		n/aPS10.5x
AAC AAC Clyde SpaceSEK 115.6013.3%
+SEK 97.0m		59.4%PS2.7x
VSSAB B Viking Supply ShipsSEK 139.505.3%
+SEK 92.1m		22.4%PE33.4x

Latest News

HTRO
SEK 32.20
Hexatronic Group
7D
4.2%
1Y
11.3%
ASSA B
SEK 321.90
ASSA ABLOY
7D
-8.1%
1Y
4.1%
LIFCO B
SEK 280.60
Lifco
7D
-5.8%
1Y
-25.2%
SAAB B
SEK 672.70
Saab
7D
-1.9%
1Y
72.8%
SUMMAS
SEK 12.90
Summa Defence Oyj
7D
25.2%
1Y
n/a
SAND
SEK 337.70
Sandvik
7D
-11.2%
1Y
45.1%
EPI A
SEK 219.60
Epiroc
7D
-11.9%
1Y
1.7%
PLEJD
SEK 668.00
Plejd
7D
1.2%
1Y
n/a
VSURE
€8.67
Verisure
7D
2.5%
1Y
n/a
ATCO A
SEK 159.75
Atlas Copco
7D
-8.8%
1Y
-7.3%

ATCO A: Mixed Ratings And Special Dividend Will Shape Future Balance

The analyst price target for Atlas Copco has edged higher to SEK 194.0, with analysts citing a small adjustment to the discount rate and steady assumptions for revenue growth, profit margins and future P/E as key factors behind the move, despite mixed recent rating and target changes from Goldman Sachs, Deutsche Bank, Citi and Pareto. Analyst Commentary Recent research on Atlas Copco reflects a split view, with some on the Street focusing on earnings power and end market trends, and others concentrating on valuation risk and execution hurdles.
VOLV B
SEK 294.80
AB Volvo
7D
-11.8%
1Y
-5.6%

VOLV B: Truck Cycle Weakness And Tariff Effects Will Shape Future Returns

Analysts have lifted the AB Volvo price target by SEK 8 to reflect slightly higher modeled fair value, supported by a series of recent SEK 10 to SEK 30 target increases and mixed rating changes that point to adjusted assumptions for revenue growth and margins despite ongoing truck market headwinds. Analyst Commentary Recent Street research on AB Volvo reflects a mix of optimism on valuation upside and caution around the truck cycle, with several firms adjusting price targets while fine tuning ratings.
VPAB B
SEK 44.90
Veteranpoolen
7D
9.5%
1Y
29.8%
AAC
SEK 115.60
AAC Clyde Space
7D
13.3%
1Y
59.4%
VSSAB B
SEK 139.50
Viking Supply Ships
7D
5.3%
1Y
22.4%
LATO B
SEK 193.65
Investment AB Latour
7D
-6.3%
1Y
-33.9%
SES
SEK 0.18
Scandinavian Enviro Systems
7D
39.6%
1Y
-87.3%