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Swedish (OMX) Machinery Industry Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies37
  • 7D0.6%
  • 3M10.2%
  • 1Y7.3%
  • YTD5.8%

Over the last 7 days, the Machinery industry has risen 2.9%, driven by gains from Atlas Copco of 2.8%. This takes the industry's 12 month performance to a gain of 9.8%. Looking forward, earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 Jan 2026SEK 2.8tSEK 1.2tSEK 109.9b25x25.1x2.4x
Thu, 18 Dec 2025SEK 2.5tSEK 1.2tSEK 109.9b23.7x23x2.2x
Sat, 15 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b24.1x22.2x2.1x
Mon, 13 Oct 2025SEK 2.5tSEK 1.2tSEK 113.3b22.5x21.8x2.1x
Wed, 10 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.2x21.4x2.1x
Fri, 08 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b24.2x20.9x2x
Sun, 06 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b23.9x19.1x1.9x
Tue, 03 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b23.8x18.6x1.9x
Thu, 01 May 2025SEK 2.3tSEK 1.2tSEK 123.2b21.5x18.4x1.9x
Sat, 29 Mar 2025SEK 2.5tSEK 1.2tSEK 125.5b23.6x19.7x2x
Mon, 24 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.8x21.7x2.2x
Wed, 22 Jan 2025SEK 2.6tSEK 1.2tSEK 124.3b27.6x20.9x2.1x
Fri, 20 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26x19.5x2x
Sun, 17 Nov 2024SEK 2.5tSEK 1.2tSEK 124.4b25.5x19.8x2x
Tue, 15 Oct 2024SEK 2.6tSEK 1.2tSEK 130.0b24.9x20.1x2.1x
Thu, 12 Sep 2024SEK 2.4tSEK 1.2tSEK 130.0b25.6x18.5x1.9x
Sat, 10 Aug 2024SEK 2.4tSEK 1.2tSEK 129.9b24.5x18.7x2x
Mon, 08 Jul 2024SEK 2.6tSEK 1.2tSEK 125.4b26.8x20.8x2.1x
Wed, 05 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b25.6x21.4x2.2x
Fri, 03 May 2024SEK 2.6tSEK 1.2tSEK 125.4b26.5x20.8x2.1x
Sun, 31 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b24.9x20.4x2.1x
Tue, 27 Feb 2024SEK 2.5tSEK 1.2tSEK 127.0b24.6x19.9x2x
Thu, 25 Jan 2024SEK 2.3tSEK 1.2tSEK 119.6b21.4x19.5x1.9x
Sat, 23 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.2x20.1x2x
Mon, 20 Nov 2023SEK 2.2tSEK 1.2tSEK 119.8b21.6x18.5x1.8x
Wed, 18 Oct 2023SEK 2.2tSEK 1.2tSEK 111.4b21.9x19.4x1.8x
Fri, 15 Sep 2023SEK 2.2tSEK 1.2tSEK 111.4b22.2x19.4x1.8x
Sun, 13 Aug 2023SEK 2.2tSEK 1.2tSEK 111.4b23.5x19.4x1.8x
Tue, 11 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24x20.4x1.9x
Thu, 08 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24.2x21x1.9x
Sat, 06 May 2023SEK 2.2tSEK 1.1tSEK 106.1b24.2x20.3x1.9x
Mon, 03 Apr 2023SEK 2.1tSEK 1.1tSEK 97.3b22.7x21.7x1.9x
Wed, 01 Mar 2023SEK 2.0tSEK 1.1tSEK 97.3b23.3x21x1.9x
Fri, 27 Jan 2023SEK 2.0tSEK 1.1tSEK 100.2b21x20.1x1.9x
Price to Earnings Ratio

20.1x


Total Market Cap: SEK 2.0tTotal Earnings: SEK 100.2bTotal Revenue: SEK 1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 20.4x202420252026
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 25.7x which is higher than its 3-year average PE of 20.3x.
  • 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.
  • Revenues for these companies have grown 4.3% 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 industry?

SE Market-0.82%
Industrials-0.14%
Machinery0.56%
Industrial Machinery1.28%
Construction Machinery and Vehicles-0.75%
Agricultural Machinery-3.36%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 25.2x.
    • Analysts are expecting annual earnings growth of 9.7%, which is higher than its past year's earnings growth of 0.5% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 25.6x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 0.4% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 9.7% 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
ATCO A Atlas CopcoSEK 186.802.8%
+SEK 25.1b		0.5%PE33x
SAND SandvikSEK 320.501.3%
+SEK 5.1b		52.7%PE27.2x
EPI A EpirocSEK 225.600.5%
+SEK 1.3b		11.0%PE31.7x
SKF B AB SKFSEK 249.400.4%
+SEK 500.9m		13.1%PE23.3x
XANO B XANO IndustriSEK 86.306.5%
+SEK 314.3m		51.7%PE22.3x

Latest News

HUSQ B
SEK 44.70
Husqvarna
7D
-3.4%
1Y
-23.3%

HUSQ B: Reset Expectations And Recovery Plan Will Support Future Rerating

Narrative Update Analysts have trimmed their Husqvarna price target to SEK 50 from SEK 55, reflecting recent Q3 results that highlight the tension between innovation-led growth ambitions and ongoing structural challenges, with some waiting for a clearer recovery and growth plan before seeing greater upside. Analyst Commentary Recent commentary frames the reduced SEK 50 target as a reset rather than a collapse in confidence, with the Hold stance signaling that analysts see Husqvarna as fairly valued until there is more clarity on execution.
SKF B
SEK 249.40
AB SKF
7D
0.4%
1Y
13.1%
ALIG
SEK 141.00
Alimak Group
7D
-3.3%
1Y
24.1%

Alimak Group AB (publ)'s (STO:ALIG) Share Price Not Quite Adding Up

Jan 16
Alimak Group AB (publ)'s (STO:ALIG) Share Price Not Quite Adding Up
BEIA B
SEK 275.50
Beijer Alma
7D
-3.8%
1Y
63.8%

When Should You Buy Beijer Alma AB (publ) (STO:BEIA B)?

Jan 15
When Should You Buy Beijer Alma AB (publ) (STO:BEIA B)?
TREL B
SEK 376.90
Trelleborg
7D
-1.8%
1Y
-6.5%

Is It Too Late To Consider Buying Trelleborg AB (publ) (STO:TREL B)?

Jan 13
Is It Too Late To Consider Buying Trelleborg AB (publ) (STO:TREL B)?
INDT
SEK 226.60
Indutrade
7D
-3.5%
1Y
-24.3%

Slowing Rates Of Return At Indutrade (STO:INDT) Leave Little Room For Excitement

Jan 12
Slowing Rates Of Return At Indutrade (STO:INDT) Leave Little Room For Excitement
EPI A
SEK 225.60
Epiroc
7D
0.5%
1Y
11.0%

EPI A: Index Inclusion And Autonomous Mining Will Support Balanced Outlook

Analysts have nudged their fair value estimate for Epiroc higher from SEK 208.50 to about SEK 213.11, citing updated assumptions around the discount rate, revenue growth, profit margins and future P/E that modestly reshape their overall valuation framework. What's in the News Epiroc AB (publ) is being added to the OMX Nordic 40 Index, reflecting its inclusion in a major regional benchmark index (Index Constituent Adds).
SAND
SEK 320.50
Sandvik
7D
1.3%
1Y
52.7%

SAND: Higher P/E Assumptions Will Expose Execution Risk Going Forward

Analysts have lifted their price target on Sandvik from about SEK 177 to SEK 212, reflecting updated assumptions on growth, profitability and P/E that are in line with recent target increases from Citi, RBC and Rothschild & Co Redburn. Analyst Commentary Recent Street research around Sandvik has centered on refreshed price targets and rating changes, giving you a clearer sense of how the market is framing risk and reward.
EPRO B
SEK 60.20
Electrolux Professional
7D
-5.2%
1Y
-15.8%
VOLV B
SEK 306.50
AB Volvo
7D
-1.2%
1Y
6.4%

VOLV B: Future Earnings May Be Constrained By Truck Cycle Execution Risk

Analysts have lifted their AB Volvo price expectations into a higher SEK 290 to SEK 333 range, pointing to tariff advantages, new truck launches, and potential benefits to construction equipment from lower rates and German stimulus as key support for the updated targets. Analyst Commentary Recent Street research on AB Volvo reflects a mixed backdrop, with some firms lifting targets into the SEK 290 to SEK 333 range while others trim estimates and stay more cautious.
ATCO A
SEK 186.80
Atlas Copco
7D
2.8%
1Y
0.5%

ATCO A: Acquisition Firepower And Cycle Risks Will Shape Balanced Outlook

The analyst price target for Atlas Copco has been raised by about SEK 1.76 to SEK 177.35, as analysts factor in shifts in end market conditions, differing views on the pace of recovery and equipment risk, and updated assumptions for growth, margins, discount rate, and future P/E. Analyst Commentary Recent research views on Atlas Copco show a clear split, with some analysts lifting ratings and targets, while others are turning more cautious and trimming their expectations.
XANO B
SEK 86.30
XANO Industri
7D
6.5%
1Y
51.7%

What XANO Industri AB (publ)'s (STO:XANO B) 35% Share Price Gain Is Not Telling You

Jan 08
What XANO Industri AB (publ)'s (STO:XANO B) 35% Share Price Gain Is Not Telling You
IMPC
SEK 1.51
Impact Coatings
7D
4.5%
1Y
-63.3%
FREEM
SEK 1.91
Freemelt Holding
7D
19.7%
1Y
-9.0%
ENGCON B
SEK 78.60
engcon
7D
-3.9%
1Y
-22.9%

engcon (STO:ENGCON B) Could Easily Take On More Debt

Nov 26
engcon (STO:ENGCON B) Could Easily Take On More Debt
CCC
SEK 14.80
Cavotec Group
7D
6.1%
1Y
n/a