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Swedish (OMX) Industrials Sector Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies160
  • 7D0.5%
  • 3M-3.1%
  • 1Y5.9%
  • YTD-3.2%

The Industrials industry is up 1.4% in the last week, with AB Volvo up 0.9%. In the same time, Saab was down 7.3%. Despite this gain, the industry's performance has been flat over 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
Tue, 31 Mar 2026SEK 4.5tSEK 2.5tSEK 166.7b22.9x26.8x1.8x
Thu, 26 Feb 2026SEK 5.1tSEK 2.5tSEK 165.9b24.9x30.5x2x
Sat, 24 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.3x28.1x1.9x
Mon, 22 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.1x26x1.8x
Wed, 19 Nov 2025SEK 4.2tSEK 2.5tSEK 172.1b23.6x24.6x1.7x
Fri, 17 Oct 2025SEK 4.4tSEK 2.5tSEK 175.5b23.7x24.8x1.7x
Sun, 14 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.5x24.7x1.7x
Tue, 12 Aug 2025SEK 4.2tSEK 2.4tSEK 173.0b24.2x24.4x1.7x
Thu, 10 Jul 2025SEK 4.3tSEK 2.5tSEK 183.9b23.8x23.3x1.7x
Sat, 07 Jun 2025SEK 4.3tSEK 2.5tSEK 183.8b24.3x23.3x1.7x
Mon, 05 May 2025SEK 4.2tSEK 2.5tSEK 181.8b22.3x23x1.7x
Wed, 02 Apr 2025SEK 4.2tSEK 2.5tSEK 185.6b21.6x22.8x1.7x
Fri, 28 Feb 2025SEK 4.6tSEK 2.5tSEK 185.9b24.2x24.8x1.8x
Sun, 26 Jan 2025SEK 4.5tSEK 2.5tSEK 183.8b23.7x24.4x1.8x
Tue, 24 Dec 2024SEK 4.1tSEK 2.5tSEK 183.7b23.1x22.6x1.7x
Thu, 21 Nov 2024SEK 4.1tSEK 2.5tSEK 185.1b23x22.3x1.6x
Sat, 19 Oct 2024SEK 4.4tSEK 2.5tSEK 181.9b23.7x24.1x1.7x
Mon, 16 Sep 2024SEK 4.3tSEK 2.5tSEK 185.8b23.4x23.1x1.7x
Wed, 14 Aug 2024SEK 4.2tSEK 2.5tSEK 189.0b23.8x22.3x1.7x
Fri, 12 Jul 2024SEK 4.4tSEK 2.5tSEK 186.1b25.5x23.4x1.7x
Sun, 09 Jun 2024SEK 4.4tSEK 2.5tSEK 185.9b25x23.9x1.8x
Tue, 07 May 2024SEK 4.3tSEK 2.5tSEK 188.7b23.2x22.7x1.7x
Thu, 04 Apr 2024SEK 4.2tSEK 2.5tSEK 191.6b22x22.2x1.7x
Sat, 02 Mar 2024SEK 4.1tSEK 2.5tSEK 192.2b21.9x21.5x1.6x
Mon, 29 Jan 2024SEK 3.9tSEK 2.5tSEK 192.8b20.3x20x1.5x
Wed, 27 Dec 2023SEK 4.0tSEK 2.5tSEK 182.1b19.3x21.8x1.6x
Fri, 24 Nov 2023SEK 3.7tSEK 2.5tSEK 182.0b18.2x20.2x1.5x
Sun, 22 Oct 2023SEK 3.3tSEK 2.5tSEK 182.1b16.2x18.1x1.3x
Tue, 19 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b17.9x20.2x1.5x
Thu, 17 Aug 2023SEK 3.6tSEK 2.4tSEK 174.2b18.3x20.5x1.5x
Sat, 15 Jul 2023SEK 3.6tSEK 2.4tSEK 168.3b18.4x21.7x1.5x
Mon, 12 Jun 2023SEK 3.8tSEK 2.4tSEK 167.9b19.1x22.6x1.6x
Wed, 10 May 2023SEK 3.7tSEK 2.3tSEK 165.5b18.9x22.5x1.6x
Fri, 07 Apr 2023SEK 3.6tSEK 2.2tSEK 156.3b19.6x22.8x1.6x
Price to Earnings Ratio

22.8x


Total Market Cap: SEK 3.6tTotal 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 26.6x which is higher than its 3-year average PE of 23.2x.
  • 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 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 Market0.36%
Industrials0.48%
Infrastructure3.37%
Commercial Services3.19%
Trade Distributors2.76%
Industrials2.05%
Professional Services1.94%
Building1.76%
Construction0.83%
Machinery0.41%
Airlines0%0
Transportation0%0
Marine and Shipping-0.89%
Electrical-1.72%
Aerospace & Defense-5.22%
Logistics-7.74%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 80.8x.
    • Analysts are expecting annual earnings growth of 24.0%, 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 54% 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
VOLV B AB VolvoSEK 300.201.0%
+SEK 5.9b		2.4%PE17.7x
ASSA B ASSA ABLOYSEK 333.201.4%
+SEK 5.2b		11.1%PE25.2x
ADDT B Addtech AB (publ.)SEK 315.605.9%
+SEK 4.8b		7.8%PE41.1x
SAND SandvikSEK 345.701.1%
+SEK 4.6b		64.6%PE29.5x
NIBE B NIBE IndustrierSEK 37.685.9%
+SEK 4.3b		-0.7%PE33.4x

Latest News

VSURE
€8.75
Verisure
7D
2.9%
1Y
n/a
SECU B
SEK 157.85
Securitas
7D
4.6%
1Y
11.2%
ALFA
SEK 503.20
Alfa Laval
7D
-1.1%
1Y
17.3%
NIBE B
SEK 37.68
NIBE Industrier
7D
5.9%
1Y
-0.7%
HTRO
SEK 31.09
Hexatronic Group
7D
-7.5%
1Y
25.7%

HTRO: Future Execution On Revenue And Margin Assumptions Will Likely Disappoint

Analysts have raised their price target on Hexatronic Group from SEK 21.50 to SEK 28.00, citing updated assumptions on revenue growth, profit margins and future P/E, consistent with a more constructive stance seen in recent research where SEB Equities upgraded the shares. Analyst Commentary While the latest target price adjustment to SEK 28.00 reflects a more constructive stance, not all voices in the market are positive.
EPI A
SEK 222.60
Epiroc
7D
-0.4%
1Y
10.7%

EPI A: Africa Automation Order Will Support Steady Stance On Rich P/E

Analysts have raised their price target for Epiroc to SEK 238.58 from SEK 235.95, reflecting updated assumptions about revenue growth, profit margin and future P/E inputs in their models. What's in the News Epiroc secured a large order in Africa for autonomous and electric surface mining equipment, focused on productivity and sustainability in mining and infrastructure (Key Developments).
MTRS
SEK 157.60
Munters Group
7D
-3.5%
1Y
55.0%
SAND
SEK 345.70
Sandvik
7D
1.1%
1Y
64.6%

SAND: Elevated P/E Assumptions Will Expose Mining Cycle Execution Risk

The updated analyst price target for Sandvik now reflects a fair value estimate of SEK 226.86, up from SEK 216.17, with analysts pointing to higher Street targets in the SEK 355 to SEK 404 range and slightly revised assumptions for growth, profitability, and future P/E multiples. Analyst Commentary Recent Street research around Sandvik presents a split picture, with several higher price targets on one side and more cautious positioning on the other.
ATCO A
SEK 161.05
Atlas Copco
7D
-0.4%
1Y
1.0%
LATO B
SEK 197.30
Investment AB Latour
7D
2.8%
1Y
-27.5%
ASSA B
SEK 333.20
ASSA ABLOY
7D
1.4%
1Y
11.1%

ASSA B: European Construction Recovery Expectations Will Support More Optimistic Rating Shift

ASSA ABLOY’s analyst price target has been raised to SEK 466, reflecting analysts’ updated fair value assumptions, a slightly lower discount rate, modestly higher expected revenue growth and a higher future P/E multiple, partly offset by a marginally lower profit margin assumption. Analyst Commentary Recent Street research on ASSA ABLOY shows a mix of constructive and cautious views around the updated SEK 466 price target, with opinions largely centered on how the company might execute against its growth opportunities and how the current valuation reflects those expectations.
INTRUM
SEK 35.25
Intrum
7D
-7.4%
1Y
33.8%
VOLV B
SEK 300.20
AB Volvo
7D
1.0%
1Y
2.4%

VOLV B: Prolonged Truck Downturn Will Likely Undermine Elevated Future Earnings Expectations

Analysts have nudged the fair value estimate for AB Volvo up to SEK 250 from SEK 245, reflecting recent target increases across several firms while still accounting for mixed views on truck cycle strength and valuation, including higher assumed future P/E multiples and modest adjustments to growth, margins and discount rates. Analyst Commentary Recent Street research on AB Volvo shows a mix of optimism on valuation and caution on the truck cycle and execution risk.
SAAB B
SEK 604.60
Saab
7D
-5.3%
1Y
53.6%

SAAB B: Higher P/E And Cautious Ratings Will Shape Execution Risk

Narrative Update The analyst price target for Saab has been updated to SEK 604.45 from SEK 595.82, reflecting recent Street research in which analysts raised their targets into a range of SEK 516 to SEK 540 while generally maintaining cautious ratings on the shares. Analyst Commentary Recent Street research on Saab shows higher price targets clustered around the low SEK 500s, but with ratings that remain generally cautious.
IVSO
SEK 241.50
Invisio
7D
-8.7%
1Y
-37.1%
ADDT B
SEK 315.60
Addtech AB (publ.)
7D
5.9%
1Y
7.8%