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Swedish (OMX) Industrials Sector Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies157
  • 7D1.1%
  • 3M5.8%
  • 1Y9.2%
  • YTD7.0%

In the last week, the Industrials industry is flat overall, with Verisure standing out by going down 3.3%. As for the the longer term, the industry is up 9.2% over the past 12 months. 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
Wed, 31 Dec 2025SEK 4.5tSEK 2.5tSEK 172.3b25.5x26.4x1.8x
Fri, 28 Nov 2025SEK 4.4tSEK 2.5tSEK 172.2b24.2x25.6x1.8x
Sun, 26 Oct 2025SEK 4.5tSEK 2.5tSEK 172.6b24.5x26.2x1.8x
Tue, 23 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23x24.6x1.7x
Thu, 21 Aug 2025SEK 4.3tSEK 2.4tSEK 173.8b23.5x24.9x1.8x
Sat, 19 Jul 2025SEK 4.2tSEK 2.4tSEK 172.3b24.1x24.6x1.7x
Mon, 16 Jun 2025SEK 4.2tSEK 2.5tSEK 184.0b22.7x22.6x1.6x
Wed, 14 May 2025SEK 4.3tSEK 2.5tSEK 182.7b23.4x23.7x1.7x
Fri, 11 Apr 2025SEK 3.8tSEK 2.7tSEK 185.2b20.3x20.7x1.4x
Sun, 09 Mar 2025SEK 4.6tSEK 2.5tSEK 187.3b23.8x24.6x1.8x
Tue, 04 Feb 2025SEK 4.5tSEK 2.5tSEK 182.6b23.2x24.7x1.8x
Thu, 02 Jan 2025SEK 4.2tSEK 2.5tSEK 183.7b23.3x22.6x1.7x
Sat, 30 Nov 2024SEK 4.2tSEK 2.5tSEK 184.9b23x22.8x1.7x
Mon, 28 Oct 2024SEK 4.3tSEK 2.5tSEK 182.1b23.6x23.7x1.7x
Wed, 25 Sep 2024SEK 4.4tSEK 2.5tSEK 185.8b23.8x23.6x1.7x
Fri, 23 Aug 2024SEK 4.3tSEK 2.5tSEK 186.2b23.9x23.1x1.7x
Sun, 21 Jul 2024SEK 4.4tSEK 2.5tSEK 191.1b24.9x23x1.7x
Tue, 18 Jun 2024SEK 4.3tSEK 2.5tSEK 185.9b25.7x23.3x1.7x
Thu, 16 May 2024SEK 4.5tSEK 2.5tSEK 188.4b24x23.6x1.8x
Sat, 13 Apr 2024SEK 4.2tSEK 2.5tSEK 191.6b21.6x22x1.7x
Mon, 11 Mar 2024SEK 4.2tSEK 2.5tSEK 192.0b21.1x21.8x1.7x
Wed, 07 Feb 2024SEK 3.9tSEK 2.5tSEK 194.6b20.5x20.1x1.6x
Fri, 05 Jan 2024SEK 3.9tSEK 2.5tSEK 182.1b20x21.3x1.5x
Sun, 03 Dec 2023SEK 3.7tSEK 2.5tSEK 182.0b18.2x20.4x1.5x
Tue, 31 Oct 2023SEK 3.3tSEK 2.5tSEK 185.9b16x17.9x1.3x
Thu, 28 Sep 2023SEK 3.4tSEK 2.4tSEK 176.1b17.6x19.4x1.4x
Sat, 26 Aug 2023SEK 3.5tSEK 2.4tSEK 175.8b17.5x19.9x1.4x
Mon, 24 Jul 2023SEK 3.6tSEK 2.4tSEK 174.6b18.9x20.9x1.5x
Wed, 21 Jun 2023SEK 3.7tSEK 2.4tSEK 167.9b19.1x22.2x1.6x
Fri, 19 May 2023SEK 3.7tSEK 2.3tSEK 167.5b18.6x22.4x1.6x
Sun, 16 Apr 2023SEK 3.7tSEK 2.2tSEK 156.3b20.4x23.9x1.7x
Tue, 14 Mar 2023SEK 3.5tSEK 2.2tSEK 156.1b18.8x22.4x1.6x
Thu, 09 Feb 2023SEK 3.7tSEK 2.2tSEK 155.0b19.9x23.6x1.6x
Sat, 07 Jan 2023SEK 3.4tSEK 2.2tSEK 162.6b18.5x20.9x1.6x
Price to Earnings Ratio

20.9x


Total Market Cap: SEK 3.4tTotal Earnings: SEK 162.6bTotal Revenue: SEK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Industrials Sector Price to Earnings3Y Average 22.8x20242025
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 26.4x 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 1.8x.
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 Market1.25%
Industrials1.07%
Logistics8.11%
Electrical2.12%
Professional Services1.59%
Aerospace & Defense1.44%
Marine and Shipping1.34%
Industrials1.33%
Machinery1.23%
Infrastructure1.17%
Construction1.10%
Building1.10%
Trade Distributors0.88%
Airlines0%0
Transportation0%0
Commercial Services-0.99%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 42.8x.
    • 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
VOLV B AB VolvoSEK 295.901.4%
+SEK 8.1b		10.2%PE16.9x
SAND SandvikSEK 300.601.5%
+SEK 5.4b		51.6%PE25.5x
ATCO A Atlas CopcoSEK 166.050.7%
+SEK 5.4b		-1.7%PE29.3x
EPI A EpirocSEK 209.902.0%
+SEK 5.1b		9.0%PE29.5x
SAAB B SaabSEK 537.601.6%
+SEK 4.5b		130.0%PE55.7x

Latest News

VOLV B
SEK 295.90
AB Volvo
7D
1.4%
1Y
10.2%

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
SAND
SEK 300.60
Sandvik
7D
1.5%
1Y
51.6%

SAND: Medium Term Margin Expansion And Cash Generation Will Drive Further Share Upside

The analyst price target for Sandvik has been increased modestly in SEK terms as analysts highlight slightly stronger revenue growth expectations, marginally higher profit margins and a marginally lower discount rate, offset by a small reduction in expected future P E multiples. Analyst Commentary Bullish analysts have become increasingly positive on Sandvik, with a series of price target hikes reflecting confidence in both the company’s execution and medium term growth profile.
ATCO A
SEK 166.05
Atlas Copco
7D
0.7%
1Y
-1.7%

What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?

Dec 26
What Does Atlas Copco AB (publ)'s (STO:ATCO A) Share Price Indicate?
IVSO
SEK 263.00
Invisio
7D
-0.6%
1Y
-4.5%

IVSO: Long Term Defense Contracts Will Support Future Performance

Analysts have maintained Invisio's fair value estimate at SEK 351.00 per share. This reflects stable expectations for revenue growth, margins, and future valuation multiples, despite a slightly higher discount rate.
ACUVI
SEK 17.26
Acuvi
7D
-16.2%
1Y
6.5%
BUFAB
SEK 100.56
Bufab
7D
-1.3%
1Y
14.5%

Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)

Dec 21
Returns On Capital Are Showing Encouraging Signs At Bufab (STO:BUFAB)
ASSA B
SEK 358.90
ASSA ABLOY
7D
1.0%
1Y
9.8%

ASSA B Will Face Limited Upside As Rich Pricing Meets Execution Risks

Analysts have raised their price target on ASSA ABLOY from about SEK 260 to roughly SEK 310, citing stronger expected revenue growth, slightly higher profit margins, and an upwardly revised future price-to-earnings multiple. Analyst Commentary Recent Street research on ASSA ABLOY has featured a series of incremental price target increases, but the prevailing stance from several bearish analysts remains one of caution rather than conviction.
MILDEF
SEK 119.80
MilDef Group
7D
-2.5%
1Y
-4.0%

Here's Why MilDef Group (STO:MILDEF) Can Manage Its Debt Responsibly

Dec 19
Here's Why MilDef Group (STO:MILDEF) Can Manage Its Debt Responsibly
ALFA
SEK 465.70
Alfa Laval
7D
0.9%
1Y
0.7%

ALFA: Raised Guidance And Partnerships Will Support Sustainable Medium Term Performance

We raise our analyst price target on Alfa Laval to SEK 479 from SEK 470, reflecting analysts' increased confidence in slightly faster revenue growth, a marginally lower discount rate, and a modestly higher future valuation multiple supported by recent target upgrades across the Street. Analyst Commentary Analyst sentiment around Alfa Laval remains skewed positively, with multiple recent target increases and at least one rating upgrade signaling rising conviction in the company’s medium term growth and earnings trajectory.
PCELL
SEK 29.94
PowerCell Sweden
7D
-3.2%
1Y
-15.6%

Risks Still Elevated At These Prices As PowerCell Sweden AB (publ) (STO:PCELL) Shares Dive 26%

Dec 18
Risks Still Elevated At These Prices As PowerCell Sweden AB (publ) (STO:PCELL) Shares Dive 26%
SAAB B
SEK 537.60
Saab
7D
1.6%
1Y
130.0%

SAAB B: Future Defense Backlog And Execution Risks Will Shape Returns Ahead

Analysts have nudged their price target on Saab higher by SEK 30 to SEK 460, citing slightly improved long term earnings visibility and a modestly higher valuation multiple. Analyst Commentary Analyst reactions to the updated target reflect a nuanced view of Saab's risk reward profile, balancing improved long term earnings visibility against lingering concerns on valuation and execution.
EPI A
SEK 209.90
Epiroc
7D
2.0%
1Y
9.0%

Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected

Dec 02
Epiroc AB (publ) (STO:EPI A) Investors Are Less Pessimistic Than Expected
VSURE
€14.00
Verisure
7D
-3.3%
1Y
n/a
LATO B
SEK 225.40
Investment AB Latour
7D
1.4%
1Y
-18.3%

Investment AB Latour (publ) (STO:LATO B) Investors Are Less Pessimistic Than Expected

Nov 26
Investment AB Latour (publ) (STO:LATO B) Investors Are Less Pessimistic Than Expected
ITAB
SEK 17.60
ITAB Shop Concept
7D
-1.1%
1Y
-15.8%
EWRK
SEK 95.90
Ework Group
7D
-2.5%
1Y
-33.0%