Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Industrials Sector Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies157
  • 7D-4.8%
  • 3M-2.5%
  • 1Y0.1%
  • YTD-3.7%

Over the last 7 days, the Industrials industry has dropped 6.5%, driven by AB Volvo declining 7.2%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026SEK 4.4tSEK 2.5tSEK 166.8b23.2x26.6x1.8x
Thu, 19 Feb 2026SEK 5.0tSEK 2.5tSEK 165.9b24.5x30.1x2x
Sat, 17 Jan 2026SEK 4.9tSEK 2.5tSEK 172.2b26.3x28.4x2x
Mon, 15 Dec 2025SEK 4.5tSEK 2.5tSEK 172.2b25.2x26.2x1.8x
Wed, 12 Nov 2025SEK 4.4tSEK 2.5tSEK 172.0b24.6x25.7x1.8x
Fri, 10 Oct 2025SEK 4.4tSEK 2.5tSEK 175.5b23.4x25.1x1.8x
Sun, 07 Sep 2025SEK 4.3tSEK 2.5tSEK 175.5b23.3x24.5x1.7x
Tue, 05 Aug 2025SEK 4.2tSEK 2.4tSEK 173.0b24.4x24.2x1.7x
Thu, 03 Jul 2025SEK 4.2tSEK 2.5tSEK 183.8b23.5x23.1x1.7x
Sat, 31 May 2025SEK 4.2tSEK 2.5tSEK 183.9b23x22.8x1.7x
Mon, 28 Apr 2025SEK 4.1tSEK 2.5tSEK 183.0b21.4x22.4x1.6x
Wed, 26 Mar 2025SEK 4.5tSEK 2.5tSEK 185.8b22.6x24x1.8x
Fri, 21 Feb 2025SEK 4.6tSEK 2.5tSEK 185.9b24.3x25x1.8x
Sun, 19 Jan 2025SEK 4.3tSEK 2.5tSEK 183.7b24.1x23.7x1.7x
Tue, 17 Dec 2024SEK 4.3tSEK 2.5tSEK 183.7b23.7x23.3x1.7x
Thu, 14 Nov 2024SEK 4.2tSEK 2.5tSEK 185.8b22.9x22.9x1.7x
Sat, 12 Oct 2024SEK 4.4tSEK 2.5tSEK 185.3b23.5x23.7x1.7x
Mon, 09 Sep 2024SEK 4.2tSEK 2.5tSEK 185.8b24.1x22.4x1.6x
Wed, 07 Aug 2024SEK 4.1tSEK 2.5tSEK 189.0b23.8x21.5x1.6x
Fri, 05 Jul 2024SEK 4.3tSEK 2.5tSEK 186.1b24.6x23.3x1.7x
Sun, 02 Jun 2024SEK 4.4tSEK 2.5tSEK 186.3b25.2x23.8x1.8x
Tue, 30 Apr 2024SEK 4.3tSEK 2.5tSEK 189.4b22x22.6x1.7x
Thu, 28 Mar 2024SEK 4.3tSEK 2.5tSEK 192.1b21.7x22.6x1.7x
Sat, 24 Feb 2024SEK 4.1tSEK 2.5tSEK 192.1b22.1x21.4x1.6x
Mon, 22 Jan 2024SEK 3.8tSEK 2.5tSEK 182.1b19.8x20.7x1.5x
Wed, 20 Dec 2023SEK 4.0tSEK 2.5tSEK 182.1b19.3x21.8x1.6x
Fri, 17 Nov 2023SEK 3.6tSEK 2.5tSEK 180.8b17.4x20x1.5x
Sun, 15 Oct 2023SEK 3.5tSEK 2.4tSEK 176.1b16.5x19.8x1.4x
Tue, 12 Sep 2023SEK 3.6tSEK 2.4tSEK 176.1b18.2x20.2x1.5x
Thu, 10 Aug 2023SEK 3.6tSEK 2.4tSEK 174.7b18.8x20.8x1.5x
Sat, 08 Jul 2023SEK 3.7tSEK 2.4tSEK 167.9b18.5x21.8x1.6x
Mon, 05 Jun 2023SEK 3.8tSEK 2.4tSEK 167.4b19.2x22.6x1.6x
Wed, 03 May 2023SEK 3.7tSEK 2.3tSEK 165.8b19.4x22.4x1.6x
Fri, 31 Mar 2023SEK 3.7tSEK 2.2tSEK 156.3b19.9x23.4x1.6x
Price to Earnings Ratio

23.4x


Total Market Cap: SEK 3.7tTotal 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 26.2x 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 Market-4.52%
Industrials-4.77%
Marine and Shipping1.86%
Electrical0.29%
Airlines0%0
Transportation0%0
Logistics-1.69%
Professional Services-1.78%
Trade Distributors-2.66%
Infrastructure-2.73%
Building-3.22%
Commercial Services-3.23%
Construction-4.71%
Industrials-5.00%
Machinery-5.11%
Aerospace & Defense-7.32%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 78.7x.
    • Analysts are expecting annual earnings growth of 24.2%, 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
NIBE B NIBE IndustrierSEK 35.574.7%
+SEK 3.2b		-17.3%PE31.5x
HTRO Hexatronic GroupSEK 33.628.3%
+SEK 532.6m		24.4%PS0.9x
GOTL A Rederiaktiebolaget GotlandSEK 2.40k2.6%
+SEK 150.0m		11.1%PS1.6x
SES Scandinavian Enviro SystemsSEK 0.24123.1%
+SEK 148.1m		-82.8%PS7.7x
PLEJD PlejdSEK 668.001.2%
+SEK 89.4m		n/aPE58.8x

Latest News

SALT B
SEK 4.19
SaltX Technology Holding
7D
11.6%
1Y
-13.7%

We're Keeping An Eye On SaltX Technology Holding's (STO:SALT B) Cash Burn Rate

Mar 24
We're Keeping An Eye On SaltX Technology Holding's (STO:SALT B) Cash Burn Rate
LATO B
SEK 191.90
Investment AB Latour
7D
-5.2%
1Y
-32.5%
ATCO A
SEK 161.75
Atlas Copco
7D
-4.7%
1Y
-3.5%
VOLV B
SEK 297.30
AB Volvo
7D
-7.2%
1Y
-4.0%

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 638.60
Saab
7D
-7.2%
1Y
60.8%

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.
BTS B
SEK 139.80
BTS Group
7D
2.9%
1Y
-47.8%

BTS B: Steady Fair Value And Reduced Dividend Will Support Future Upside

The analyst price target for BTS Group remains steady at SEK153.50. Minor technical tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E have led analysts to reaffirm, rather than materially alter, their valuation view.
HTRO
SEK 33.62
Hexatronic Group
7D
8.3%
1Y
24.4%
ASSA B
SEK 328.50
ASSA ABLOY
7D
-4.8%
1Y
7.6%
LIFCO B
SEK 277.20
Lifco
7D
-4.9%
1Y
-25.7%
GOTL A
SEK 2,400.00
Rederiaktiebolaget Gotland
7D
2.6%
1Y
11.1%
SAND
SEK 342.00
Sandvik
7D
-4.0%
1Y
49.0%
EPI A
SEK 223.50
Epiroc
7D
-6.2%
1Y
4.2%
PLEJD
SEK 668.00
Plejd
7D
1.2%
1Y
n/a
NIBE B
SEK 35.57
NIBE Industrier
7D
4.7%
1Y
-17.3%

NIBE B: Future Upside Will Stem From Resilient Margins Despite Recent Downgrade

Analysts have trimmed their price target on NIBE Industrier slightly to SEK44.30 from SEK44.63, reflecting updated assumptions around revenue growth, profit margins and future P/E after recent Street research turned more cautious on the shares. Analyst Commentary Recent research has tilted more cautious, with some bearish analysts reassessing NIBE Industrier’s risk and reward profile.
VPAB B
SEK 44.90
Veteranpoolen
7D
9.5%
1Y
29.8%
SES
SEK 0.24
Scandinavian Enviro Systems
7D
123.1%
1Y
-82.8%