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Swedish (OMX) Machinery Industry Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies37
  • 7D-8.5%
  • 3M6.4%
  • 1Y2.9%
  • YTD5.0%

Over the last 7 days, the Machinery industry has dropped 8.2%, driven by a pullback from Atlas Copco of 10%. Over the past 12 months, the industry was up 4.0%. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026SEK 2.7tSEK 1.2tSEK 106.7b22.1x25.7x2.4x
Thu, 05 Feb 2026SEK 3.0tSEK 1.2tSEK 106.4b24.9x28x2.6x
Sat, 03 Jan 2026SEK 2.6tSEK 1.2tSEK 109.9b24.7x23.8x2.2x
Mon, 01 Dec 2025SEK 2.5tSEK 1.2tSEK 109.9b24.2x22.9x2.1x
Wed, 29 Oct 2025SEK 2.6tSEK 1.2tSEK 110.7b24.4x23.1x2.2x
Fri, 26 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b22.2x21.2x2x
Sun, 24 Aug 2025SEK 2.5tSEK 1.2tSEK 113.3b23.6x21.7x2.1x
Tue, 22 Jul 2025SEK 2.3tSEK 1.2tSEK 113.0b23.6x20.7x2x
Thu, 19 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b23.3x18.5x1.9x
Sat, 17 May 2025SEK 2.4tSEK 1.2tSEK 123.4b22.8x19.6x2x
Mon, 14 Apr 2025SEK 2.1tSEK 1.2tSEK 125.5b21.5x17x1.8x
Wed, 12 Mar 2025SEK 2.6tSEK 1.2tSEK 125.4b24.7x20.6x2.1x
Fri, 07 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.5x21.3x2.2x
Sun, 05 Jan 2025SEK 2.4tSEK 1.2tSEK 124.3b26.2x19.6x2x
Tue, 03 Dec 2024SEK 2.5tSEK 1.2tSEK 124.4b26.2x20.1x2x
Thu, 31 Oct 2024SEK 2.5tSEK 1.2tSEK 124.5b27.4x20.3x2.1x
Sat, 28 Sep 2024SEK 2.7tSEK 1.2tSEK 130.0b26.2x20.6x2.1x
Mon, 26 Aug 2024SEK 2.5tSEK 1.2tSEK 129.9b24.2x19.5x2x
Wed, 24 Jul 2024SEK 2.6tSEK 1.2tSEK 129.8b25.2x20x2.1x
Fri, 21 Jun 2024SEK 2.6tSEK 1.2tSEK 125.4b27.6x21.1x2.1x
Sun, 19 May 2024SEK 2.7tSEK 1.2tSEK 125.4b25.9x21.6x2.2x
Tue, 16 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b23.7x20.7x2.1x
Thu, 14 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b23.4x20.6x2.1x
Sat, 10 Feb 2024SEK 2.4tSEK 1.2tSEK 126.9b22.1x18.7x1.9x
Mon, 08 Jan 2024SEK 2.3tSEK 1.2tSEK 119.8b22.5x19.2x1.9x
Wed, 06 Dec 2023SEK 2.3tSEK 1.2tSEK 119.8b22.3x19.2x1.9x
Fri, 03 Nov 2023SEK 2.1tSEK 1.2tSEK 118.6b20.8x17.7x1.7x
Sun, 01 Oct 2023SEK 2.1tSEK 1.2tSEK 111.4b22.5x19.3x1.8x
Tue, 29 Aug 2023SEK 2.2tSEK 1.2tSEK 111.3b20.8x19.3x1.8x
Thu, 27 Jul 2023SEK 2.2tSEK 1.2tSEK 111.4b24.1x19.7x1.8x
Sat, 24 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24x20.5x1.9x
Mon, 22 May 2023SEK 2.2tSEK 1.1tSEK 106.1b25x21x1.9x
Wed, 19 Apr 2023SEK 2.1tSEK 1.1tSEK 97.3b23.3x22x2x
Fri, 17 Mar 2023SEK 2.0tSEK 1.1tSEK 97.3b22.1x20.2x1.8x
Price to Earnings Ratio

20.2x


Total Market Cap: SEK 2.0tTotal Earnings: SEK 97.3bTotal Revenue: SEK 1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 20.6x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Machinery industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.3x which is higher than its 3-year average PE of 20.6x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 3.1% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

SE Market-4.91%
Industrials-6.97%
Machinery-8.52%
Agricultural Machinery-6.11%
Construction Machinery and Vehicles-8.04%
Industrial Machinery-8.80%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 25.5x.
    • Analysts are expecting annual earnings growth of 9.8%, which is higher than its past year's earnings decline of 6.9% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 25.3x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 15% over the next 5 years.
  • However this is lower than its past earnings growth rate of 33% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 9.8% 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
ENGCON B engconSEK 63.900.9%
+SEK 91.5m		-35.5%PE44.7x
FLEXQ FlexQubeSEK 18.3014.7%
+SEK 40.5m		130.5%PS3x
OPTI OptiCept TechnologiesSEK 2.2532.2%
+SEK 35.5m		-45.5%PS3.4x
SALT B SaltX Technology HoldingSEK 3.963.8%
+SEK 28.8m		-11.7%PS16.9x
ENRAD EnradSEK 11.104.7%
+SEK 13.5m		-1.8%PS5.4x

Latest News

SALT B
SEK 3.96
SaltX Technology Holding
7D
3.8%
1Y
-11.7%
SKF B
SEK 227.10
AB SKF
7D
-9.6%
1Y
-3.6%
ATCO A
SEK 170.60
Atlas Copco
7D
-10.2%
1Y
-4.8%

ATCO A: Mixed Ratings And Special Dividend Will Shape Future Balance

The analyst price target for Atlas Copco has edged higher to SEK 194.0, with analysts citing a small adjustment to the discount rate and steady assumptions for revenue growth, profit margins and future P/E as key factors behind the move, despite mixed recent rating and target changes from Goldman Sachs, Deutsche Bank, Citi and Pareto. Analyst Commentary Recent research on Atlas Copco reflects a split view, with some on the Street focusing on earnings power and end market trends, and others concentrating on valuation risk and execution hurdles.
VOLV B
SEK 321.20
AB Volvo
7D
-6.7%
1Y
-2.2%

VOLV B: Truck Cycle Weakness And Tariff Effects Will Shape Future Returns

Analysts have lifted the AB Volvo price target by SEK 8 to reflect slightly higher modeled fair value, supported by a series of recent SEK 10 to SEK 30 target increases and mixed rating changes that point to adjusted assumptions for revenue growth and margins despite ongoing truck market headwinds. Analyst Commentary Recent Street research on AB Volvo reflects a mix of optimism on valuation upside and caution around the truck cycle, with several firms adjusting price targets while fine tuning ratings.
INDT
SEK 212.80
Indutrade
7D
-5.9%
1Y
-27.7%

INDT: Acquisition Pipeline And Higher P/E Expectations Will Support Future Upside

Analysts have trimmed their SEK price target for Indutrade from about SEK 272 to around SEK 260, citing slightly lower revenue growth assumptions, a modestly higher discount rate, and a somewhat richer future P/E multiple in their updated models. Analyst Commentary Recent commentary around Indutrade gives you a mixed but useful picture of how the market is thinking about the shares at the current SEK 260 price target level.
TREL B
SEK 353.40
Trelleborg
7D
-8.9%
1Y
-14.1%

TREL B: Future View Will Balance Dividend Proposal With Portfolio Shift Conviction

The analyst price target for Trelleborg has been adjusted slightly lower to SEK 409, from about SEK 411, as analysts balance recent additions to high conviction lists with modest trims in target prices, while reiterating their focus on the company shifting its portfolio toward structural growth areas. Analyst Commentary Recent research on Trelleborg reflects a mix of optimism about the portfolio shift toward structural growth areas and some restraint on valuation, with target prices edging lower even as conviction on the story remains high.
ALFA
SEK 506.00
Alfa Laval
7D
-5.3%
1Y
11.1%

ALFA: Elevated P E Multiples Will Strain Tanker Order Execution Ahead

Narrative Update: Alfa Laval The analyst fair value estimate for Alfa Laval has been lifted from SEK 425 to SEK 430, reflecting updated assumptions on revenue growth, profit margins and P/E multiples, as analysts point to stronger tanker order expectations, a more balanced valuation and a series of recent price target revisions, including moves to SEK 466 and SEK 500. Analyst Commentary Recent research updates on Alfa Laval highlight a mix of optimism and caution, with several firms adjusting their views and price targets in quick succession.
AGES B
SEK 48.40
AGES Industri
7D
1.3%
1Y
-21.2%
ENGCON B
SEK 63.90
engcon
7D
0.9%
1Y
-35.5%
OXE
SEK 0.28
OXE Marine
7D
5.6%
1Y
-18.3%
SAND
SEK 358.00
Sandvik
7D
-8.7%
1Y
54.4%

SAND: Higher Multiple Assumptions Will Likely Constrain Future Share Returns

Our updated fair value estimate for Sandvik moves to SEK 329.30 from SEK 282.56. This reflects analysts' refreshed price targets around SEK 350 and above, which are supported by assumptions of higher revenue growth, stronger profit margins, and a slightly richer future P/E multiple.
EPI A
SEK 236.50
Epiroc
7D
-11.5%
1Y
10.4%

EPI A: Index Addition Will Coincide With Cautious Stance On Rich P/E

Analysts have nudged their fair value estimate for Epiroc slightly higher from SEK 232.45 to SEK 232.95, reflecting modest adjustments to the discount rate, long term revenue growth, profit margin assumptions, and future P/E expectations. What's in the News Epiroc AB (publ) has been added to the OMX Nordic 40 Index, which can influence how index funds and ETFs that track this benchmark gain exposure to the stock (Key Developments).
FLEXQ
SEK 18.30
FlexQube
7D
14.7%
1Y
130.5%
AERW B
SEK 2.49
Aerowash
7D
20.9%
1Y
-69.3%
OPTI
SEK 2.25
OptiCept Technologies
7D
32.2%
1Y
-45.5%
ENRAD
SEK 11.10
Enrad
7D
4.7%
1Y
-1.8%

We Think Enrad (NGM:ENRAD) Can Easily Afford To Drive Business Growth

Oct 14
We Think Enrad (NGM:ENRAD) Can Easily Afford To Drive Business Growth