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Swedish (OMX) Industrials Sector Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies157
  • 7D1.5%
  • 3M17.2%
  • 1Y9.5%
  • YTD9.9%

Over the last 7 days, the Industrials industry has risen 1.5%, and Saab contributed the most with a gain of 4.8%. During this same period, the Verisure underperformed, falling 6.1%. This takes the industry's 12 month performance to a gain of 9.5%. Looking forward, 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
Sun, 22 Feb 2026SEK 5.1tSEK 2.5tSEK 165.9b25x30.5x2.1x
Tue, 20 Jan 2026SEK 4.8tSEK 2.5tSEK 172.2b25.8x27.8x1.9x
Thu, 18 Dec 2025SEK 4.4tSEK 2.5tSEK 172.2b24.8x25.6x1.8x
Sat, 15 Nov 2025SEK 4.4tSEK 2.5tSEK 171.8b24.4x25.4x1.7x
Mon, 13 Oct 2025SEK 4.3tSEK 2.5tSEK 175.5b23.1x24.8x1.7x
Wed, 10 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.3x24.6x1.7x
Fri, 08 Aug 2025SEK 4.3tSEK 2.4tSEK 173.0b24.3x24.7x1.8x
Sun, 06 Jul 2025SEK 4.2tSEK 2.5tSEK 183.9b23.7x23x1.7x
Tue, 03 Jun 2025SEK 4.2tSEK 2.5tSEK 183.8b22.8x22.6x1.6x
Thu, 01 May 2025SEK 4.1tSEK 2.5tSEK 181.5b21.5x22.6x1.6x
Sat, 29 Mar 2025SEK 4.3tSEK 2.5tSEK 185.6b21.8x23.1x1.7x
Mon, 24 Feb 2025SEK 4.6tSEK 2.5tSEK 185.9b24.8x24.9x1.8x
Wed, 22 Jan 2025SEK 4.4tSEK 2.5tSEK 183.7b23.7x23.8x1.7x
Fri, 20 Dec 2024SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.6x1.7x
Sun, 17 Nov 2024SEK 4.2tSEK 2.5tSEK 185.1b23.2x22.7x1.7x
Tue, 15 Oct 2024SEK 4.4tSEK 2.5tSEK 185.3b23.5x23.7x1.7x
Thu, 12 Sep 2024SEK 4.2tSEK 2.5tSEK 185.8b24.1x22.5x1.7x
Sat, 10 Aug 2024SEK 4.2tSEK 2.5tSEK 189.0b24.5x22.1x1.7x
Mon, 08 Jul 2024SEK 4.3tSEK 2.5tSEK 186.1b24.7x23.2x1.7x
Wed, 05 Jun 2024SEK 4.4tSEK 2.5tSEK 186.4b25.4x23.5x1.7x
Fri, 03 May 2024SEK 4.2tSEK 2.5tSEK 189.1b22.6x22.2x1.7x
Sun, 31 Mar 2024SEK 4.2tSEK 2.5tSEK 191.6b21.9x22.2x1.7x
Tue, 27 Feb 2024SEK 4.1tSEK 2.5tSEK 192.2b22.6x21.4x1.6x
Thu, 25 Jan 2024SEK 3.9tSEK 2.5tSEK 182.0b20.2x21.2x1.5x
Sat, 23 Dec 2023SEK 4.0tSEK 2.5tSEK 182.1b19.3x21.8x1.6x
Mon, 20 Nov 2023SEK 3.6tSEK 2.5tSEK 182.0b18.1x19.9x1.5x
Wed, 18 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b16.5x19.8x1.4x
Fri, 15 Sep 2023SEK 3.5tSEK 2.4tSEK 176.1b17.9x20x1.4x
Sun, 13 Aug 2023SEK 3.6tSEK 2.4tSEK 174.6b18.8x20.7x1.5x
Tue, 11 Jul 2023SEK 3.7tSEK 2.4tSEK 167.9b18.4x21.8x1.6x
Thu, 08 Jun 2023SEK 3.8tSEK 2.3tSEK 167.4b19.3x22.8x1.6x
Sat, 06 May 2023SEK 3.8tSEK 2.3tSEK 165.5b19.4x22.7x1.6x
Mon, 03 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b19.9x23.8x1.7x
Wed, 01 Mar 2023SEK 3.6tSEK 2.2tSEK 156.0b20x23.2x1.6x
Price to Earnings Ratio

23.2x


Total Market Cap: SEK 3.6tTotal Earnings: SEK 156.0bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 23x202420252026
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 30.5x which is higher than its 3-year average PE of 23.0x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 2.1% 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 Market1.64%
Industrials1.49%
Aerospace & Defense4.29%
Construction3.86%
Industrials3.24%
Machinery1.39%
Trade Distributors0.94%
Marine and Shipping0.83%
Professional Services0.63%
Logistics0.39%
Building0.22%
Airlines0%0
Transportation0%0
Commercial Services-1.27%
Infrastructure-1.66%
Electrical-3.47%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 77.3x.
    • Analysts are expecting annual earnings growth of 24.3%, 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
SAAB B SaabSEK 669.404.8%
+SEK 16.5b		125.5%PE57x
ATCO A Atlas CopcoSEK 195.501.6%
+SEK 15.1b		5.2%PE36x
VOLV B AB VolvoSEK 351.102.2%
+SEK 15.0b		7.0%PE20.7x
LATO B Investment AB LatourSEK 229.304.6%
+SEK 6.5b		-23.4%PE29.8x
ALFA Alfa LavalSEK 522.202.6%
+SEK 5.4b		11.3%PE26.1x

Latest News

SAAB B
SEK 669.40
Saab
7D
4.8%
1Y
125.5%
ATCO A
SEK 195.50
Atlas Copco
7D
1.6%
1Y
5.2%
ALFA
SEK 522.20
Alfa Laval
7D
2.6%
1Y
11.3%

ALFA: Rising P E Multiples Will Face Heightened Execution Risk Ahead

Alfa Laval's analyst price target has been adjusted from SEK 420 to SEK 425, as analysts factor in updated fair value, discount rate, revenue growth, profit margin and P/E assumptions following mixed target revisions from Deutsche Bank and JPMorgan. Analyst Commentary The latest Street research on Alfa Laval highlights a mixed but increasingly valuation-conscious setup, with recent target moves reflecting both optimism and caution around execution and earnings quality.
FAG
SEK 31.00
Fagerhult Group
7D
-15.0%
1Y
-32.8%
ENGCON B
SEK 71.40
engcon
7D
-14.9%
1Y
-34.5%
MTRS
SEK 182.80
Munters Group
7D
-7.0%
1Y
26.9%

MTRS: Data Center Contract Momentum Will Underpin Stronger Earnings Visibility

Analysts have raised their price target on Munters Group to SEK 235 from SEK 220, citing updated assumptions for revenue growth, profit margins and a lower future P/E multiple that together support a higher fair value estimate. Analyst Commentary Recent research points to a more constructive view on Munters Group, with price targets moving higher as analysts refresh their models for revenue growth, profitability and valuation.
BEIJ B
SEK 135.75
Beijer Ref
7D
-1.3%
1Y
-19.1%

BEIJ B: Higher Dividend And Seasonally Timed Payouts Will Support Attractive Outlook

Analysts have nudged their fair value estimate for Beijer Ref slightly lower, from SEK 177.00 to about SEK 172.83, as updated assumptions now indicate more moderate revenue growth, slimmer profit margins, and a somewhat higher future P/E multiple. What's in the News The Board of Directors of Beijer Ref AB (publ) has proposed a dividend of SEK 1.50 per share for the year 2025, compared with SEK 1.40 previously.
HUSQ B
SEK 43.67
Husqvarna
7D
-2.3%
1Y
-22.5%

HUSQ B: Golf Partnerships And Cautious Outlook Will Shape A Steady Path

Analysts have trimmed their price target on Husqvarna by SEK 2 to SEK 42, citing updates to fair value assumptions, a slightly higher discount rate, more cautious revenue and margin expectations, and a higher projected future P/E multiple. Analyst Commentary Bearish analysts have highlighted that the latest SEK 2 trim to the price target, to SEK 42, fits into a wider pattern of cautious revisions around Husqvarna.
LIFCO B
SEK 321.00
Lifco
7D
2.8%
1Y
-16.2%

LIFCO B: Higher Profitability And Dividend Will Support Future Returns

Analysts have reduced their SEK 382.0 fair value estimate for Lifco to SEK 361.0, citing updated assumptions for revenue growth, profit margins and future P/E that reflect a more balanced risk and return profile. What's in the News Lifco AB (publ) announced an annual dividend of SEK 2.70 per share.
VSURE
€9.75
Verisure
7D
-6.1%
1Y
n/a
LATO B
SEK 229.30
Investment AB Latour
7D
4.6%
1Y
-23.4%
SAND
SEK 379.60
Sandvik
7D
0.7%
1Y
60.6%

Sandvik (STO:SAND) Has Announced That It Will Be Increasing Its Dividend To SEK6.00

Feb 13
Sandvik (STO:SAND) Has Announced That It Will Be Increasing Its Dividend To SEK6.00
EPI A
SEK 259.20
Epiroc
7D
-0.3%
1Y
18.6%

Automation And Electrification Leadership Will Support Long Term Mining Equipment Demand

Catalysts About Epiroc Epiroc supplies equipment, tools, automation, electrification and digital solutions for mining and infrastructure customers globally. What are the underlying business or industry changes driving this perspective?
SKA B
SEK 276.90
Skanska
7D
4.3%
1Y
10.7%

SKA B: Cautious Order Book Execution Will Likely Pressure An Optimistic P/E

Analysts have lifted their price target on Skanska by SEK 1, citing updated assumptions around revenue growth, profit margins, the discount rate, and future P/E expectations. Analyst Commentary While the latest SEK 1 price target adjustment is modest, it reflects a wider set of cautious signals that some bearish analysts are flagging around Skanska's valuation, execution, and growth assumptions.
VOLV B
SEK 351.10
AB Volvo
7D
2.2%
1Y
7.0%

VOLV B: Truck Cycle Uncertainty And Tariff Support Will Shape Medium-Term Returns

Analysts have lifted their price targets on AB Volvo, with the updated fair value estimate moving from SEK 288.51 to about SEK 323.56. This change reflects higher assumed revenue growth, a slightly lower discount rate, and a higher future P/E multiple, broadly in line with recent target increases from major banks.
INTRUM
SEK 43.21
Intrum
7D
-7.5%
1Y
38.9%