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Swedish (OMX) Construction Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies18
  • 7D-4.5%
  • 3M3.4%
  • 1Y-2.0%
  • YTD1.7%

Over the last 7 days, the Construction industry has dropped 4.5%, driven by Skanska declining 5.9%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

Has the Swedish Construction Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026SEK 236.1bSEK 380.9bSEK 9.4b21.4x25x0.6x
Wed, 04 Feb 2026SEK 241.5bSEK 389.0bSEK 11.3b18.6x21.4x0.6x
Fri, 02 Jan 2026SEK 230.6bSEK 389.4bSEK 11.3b18.4x20.4x0.6x
Sun, 30 Nov 2025SEK 226.6bSEK 389.5bSEK 11.3b17.6x20x0.6x
Tue, 28 Oct 2025SEK 237.0bSEK 389.9bSEK 11.3b19.4x21x0.6x
Thu, 25 Sep 2025SEK 222.1bSEK 391.0bSEK 10.8b15.8x20.6x0.6x
Sat, 23 Aug 2025SEK 206.8bSEK 331.9bSEK 9.3b15.7x22.3x0.6x
Mon, 21 Jul 2025SEK 193.6bSEK 331.2bSEK 9.2b17.1x21.1x0.6x
Wed, 18 Jun 2025SEK 217.5bSEK 388.9bSEK 11.4b17.7x19.1x0.6x
Fri, 16 May 2025SEK 225.9bSEK 388.8bSEK 11.1b16.4x20.3x0.6x
Sun, 13 Apr 2025SEK 201.3bSEK 380.1bSEK 10.5b15.2x19.2x0.5x
Tue, 11 Mar 2025SEK 232.5bSEK 378.3bSEK 12.0b19.2x19.3x0.6x
Thu, 06 Feb 2025SEK 223.4bSEK 370.5bSEK 8.8b19.9x25.5x0.6x
Sat, 04 Jan 2025SEK 223.3bSEK 370.6bSEK 8.8b19.8x25.5x0.6x
Mon, 02 Dec 2024SEK 216.6bSEK 370.7bSEK 10.0b19.1x21.7x0.6x
Wed, 30 Oct 2024SEK 217.2bSEK 368.5bSEK 9.6b17.5x22.6x0.6x
Fri, 27 Sep 2024SEK 224.5bSEK 367.7bSEK 9.7b19.2x23.3x0.6x
Sun, 25 Aug 2024SEK 230.0bSEK 376.8bSEK 10.8b19x21.3x0.6x
Tue, 23 Jul 2024SEK 235.8bSEK 377.3bSEK 11.3b21.4x20.8x0.6x
Thu, 20 Jun 2024SEK 207.2bSEK 368.3bSEK 11.8b18.7x17.5x0.6x
Sat, 18 May 2024SEK 203.9bSEK 368.7bSEK 11.8b18.2x17.3x0.6x
Mon, 15 Apr 2024SEK 188.5bSEK 371.4bSEK 12.9b15.8x14.6x0.5x
Wed, 13 Mar 2024SEK 192.1bSEK 371.1bSEK 13.1b13.9x14.6x0.5x
Fri, 09 Feb 2024SEK 183.9bSEK 368.4bSEK 15.0b12.4x12.3x0.5x
Sun, 07 Jan 2024SEK 187.9bSEK 377.9bSEK 15.1b12.7x12.5x0.5x
Tue, 05 Dec 2023SEK 176.3bSEK 377.9bSEK 15.1b10.5x11.7x0.5x
Thu, 02 Nov 2023SEK 161.9bSEK 379.0bSEK 16.6b7.5x9.8x0.4x
Sat, 30 Sep 2023SEK 172.1bSEK 378.2bSEK 15.6b10.7x11x0.5x
Mon, 28 Aug 2023SEK 165.0bSEK 377.9bSEK 15.5b13.1x10.6x0.4x
Wed, 26 Jul 2023SEK 182.2bSEK 376.5bSEK 15.3b15.2x11.9x0.5x
Fri, 23 Jun 2023SEK 170.7bSEK 374.5bSEK 14.6b15.2x11.7x0.5x
Sun, 21 May 2023SEK 183.8bSEK 373.6bSEK 14.9b16.5x12.4x0.5x
Tue, 18 Apr 2023SEK 199.6bSEK 366.4bSEK 14.7b17.5x13.6x0.5x
Thu, 16 Mar 2023SEK 190.9bSEK 366.3bSEK 14.8b18.1x12.9x0.5x
Price to Earnings Ratio

12.9x


Total Market Cap: SEK 190.9bTotal Earnings: SEK 14.8bTotal Revenue: SEK 366.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Construction Industry Price to Earnings3Y Average 17.9x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Construction industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 25.0x which is higher than its 3-year average PE of 17.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.55x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have declined 14% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Swedish Industrials industry?

SE Market-5.13%
Industrials-6.79%
Construction-4.46%
Construction and Engineering-4.46%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SEHED B SEHED ByggmästargruppenSEK 26.305.2%
+SEK 36.5m		44.1%PE11.1x
BYGGP ByggPartner GruppenSEK 45.000.4%
+SEK 9.1m		146.6%PE16.2x
TERNOR Terranor GroupSEK 25.751.0%
+SEK 5.0m		n/aPS0.1x
VESTUM VestumSEK 9.590.1%
+SEK 3.8m		4.8%PS1x
NORB B Nordisk BergteknikSEK 12.100.4%
+SEK 2.9m		0%PE24.3x

Latest News

SWEC B
SEK 141.20
Sweco
7D
-1.4%
1Y
-24.6%
INSTAL
SEK 32.54
Instalco
7D
-4.4%
1Y
-4.7%

INSTAL: Lower Discount Rate And Dividend Reset Will Support Future Repricing

Analysts have nudged their price target on Instalco slightly higher to SEK42.50. This reflects refreshed assumptions around discount rate, revenue growth, profit margin and future P/E that keep their valuation view broadly unchanged in SEK terms.
NCC B
SEK 213.00
NCC
7D
-2.2%
1Y
12.2%
DOXA
SEK 0.44
Doxa
7D
0.1%
1Y
10.2%
SKA B
SEK 261.50
Skanska
7D
-4.9%
1Y
8.3%

SKA B: Refined Assumptions And New Projects Will Shape Future Margins

The analyst price target for Skanska has been adjusted from SEK 269 to about SEK 273. Analysts cited updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E following recent research where the target was raised by SEK 1.
TERNOR
SEK 25.75
Terranor Group
7D
1.0%
1Y
n/a
BYGGP
SEK 45.00
ByggPartner Gruppen
7D
0.4%
1Y
146.6%
EOLU B
SEK 35.05
Eolus Aktiebolag
7D
-4.6%
1Y
-37.9%
ELTEL
SEK 8.90
Eltel
7D
-2.0%
1Y
30.9%
NORB B
SEK 12.10
Nordisk Bergteknik
7D
0.4%
1Y
0%
NYAB
SEK 5.93
Nyab
7D
-2.1%
1Y
12.1%

Analysts Have Made A Financial Statement On Nyab AB (publ)'s (STO:NYAB) Yearly Report

Feb 15
Analysts Have Made A Financial Statement On Nyab AB (publ)'s (STO:NYAB) Yearly Report
SEHED B
SEK 26.30
SEHED Byggmästargruppen
7D
5.2%
1Y
44.1%

Under The Bonnet, SEHED Byggmästargruppen's (NGM:SEHED B) Returns Look Impressive

Feb 15
Under The Bonnet, SEHED Byggmästargruppen's (NGM:SEHED B) Returns Look Impressive
VESTUM
SEK 9.59
Vestum
7D
0.1%
1Y
4.8%
PEAB B
SEK 102.80
Peab
7D
-3.4%
1Y
31.0%