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Swedish (OMX) Machinery Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies37
  • 7D0.3%
  • 3M6.1%
  • 1Y7.3%
  • YTD5.5%

In the last week, Machinery has been flat. As for the the longer term, the industry is up 7.4% over the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.4x23.4x2.2x
Fri, 21 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b23.4x21.9x2x
Sun, 19 Oct 2025SEK 2.4tSEK 1.2tSEK 110.8b23.1x22x2.1x
Tue, 16 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.2x21.4x2x
Thu, 14 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b23.8x20.9x2x
Sat, 12 Jul 2025SEK 2.5tSEK 1.2tSEK 123.4b24.4x19.9x2x
Mon, 09 Jun 2025SEK 2.4tSEK 1.2tSEK 123.4b24.6x19.1x1.9x
Wed, 07 May 2025SEK 2.3tSEK 1.2tSEK 123.3b21.1x18.3x1.9x
Fri, 04 Apr 2025SEK 2.2tSEK 1.2tSEK 125.5b21.8x17.8x1.8x
Sun, 02 Mar 2025SEK 2.7tSEK 1.2tSEK 125.5b26.5x21.5x2.2x
Tue, 28 Jan 2025SEK 2.7tSEK 1.2tSEK 124.4b28.7x21.6x2.2x
Thu, 26 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.2x19.3x2x
Sat, 23 Nov 2024SEK 2.4tSEK 1.2tSEK 124.4b24.7x19.7x2x
Mon, 21 Oct 2024SEK 2.6tSEK 1.2tSEK 125.9b25.3x20.4x2.1x
Wed, 18 Sep 2024SEK 2.5tSEK 1.2tSEK 130.0b26.2x19.2x2x
Fri, 16 Aug 2024SEK 2.5tSEK 1.2tSEK 129.9b24.3x19.3x2x
Sun, 14 Jul 2024SEK 2.7tSEK 1.2tSEK 125.4b27.1x21.5x2.2x
Tue, 11 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b25.5x21.6x2.2x
Thu, 09 May 2024SEK 2.7tSEK 1.2tSEK 125.4b27.2x21.5x2.2x
Sat, 06 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.7x20.6x2.1x
Mon, 04 Mar 2024SEK 2.5tSEK 1.2tSEK 127.0b22.9x20x2x
Wed, 31 Jan 2024SEK 2.3tSEK 1.3tSEK 126.6b21.5x18.3x1.8x
Fri, 29 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.1x20.2x2x
Sun, 26 Nov 2023SEK 2.2tSEK 1.2tSEK 119.8b22.1x18.7x1.8x
Tue, 24 Oct 2023SEK 2.0tSEK 1.2tSEK 117.2b21.3x17.2x1.7x
Thu, 21 Sep 2023SEK 2.2tSEK 1.2tSEK 111.4b22.7x19.6x1.8x
Sat, 19 Aug 2023SEK 2.1tSEK 1.2tSEK 111.3b21x19x1.8x
Mon, 17 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24.5x20.4x1.9x
Wed, 14 Jun 2023SEK 2.3tSEK 1.1tSEK 106.2b24.2x21.3x2x
Fri, 12 May 2023SEK 2.1tSEK 1.1tSEK 106.1b24x20.2x1.9x
Sun, 09 Apr 2023SEK 2.0tSEK 1.1tSEK 97.3b22.3x20.6x1.8x
Tue, 07 Mar 2023SEK 2.1tSEK 1.1tSEK 97.3b23.1x21.6x1.9x
Thu, 02 Feb 2023SEK 2.0tSEK 1.1tSEK 100.0b21.4x20.3x1.9x
Sat, 31 Dec 2022SEK 1.9tSEK 1.0tSEK 101.9b16.6x18.7x1.8x
Price to Earnings Ratio

18.7x


Total Market Cap: SEK 1.9tTotal Earnings: SEK 101.9bTotal Revenue: SEK 1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 20.2x202320242025
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 23.5x which is higher than its 3-year average PE of 20.2x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 2.6% per year over the last three years.
  • Revenues for these companies have grown 4.0% 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 Market1.17%
Industrials0.65%
Machinery0.30%
Industrial Machinery0.75%
Construction Machinery and Vehicles-0.48%
Agricultural Machinery-3.26%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 25.1x.
    • Analysts are expecting annual earnings growth of 9.9%, 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 25.5x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 24% 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 9.9% 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
SAND SandvikSEK 296.301.6%
+SEK 6.0b		49.1%PE25.1x
ATCO A Atlas CopcoSEK 164.950.6%
+SEK 4.6b		-2.2%PE29.1x
ALFA Alfa LavalSEK 461.400.7%
+SEK 1.2b		-0.1%PE22.9x
SKF B AB SKFSEK 242.500.6%
+SEK 637.5m		17.4%PE22.7x
BEIA B Beijer AlmaSEK 294.003.7%
+SEK 632.8m		77.8%PE33.1x

Latest News

SAND
SEK 296.30
Sandvik
7D
1.6%
1Y
49.1%
VOLV B
SEK 291.90
AB Volvo
7D
-0.03%
1Y
9.7%

VOLV B: Future Earnings Durability Will Face Rising Margin And Cycle Risks

We are nudging our fair value estimate for AB Volvo higher to SEK 245 from SEK 240 as analysts, despite trimming near term growth and margin expectations and slightly increasing the discount rate, continue to see support from resilient profitability and valuation metrics that justify a modestly higher future earnings multiple. Analyst Commentary Recent Street research on AB Volvo reflects a mixed but increasingly cautious stance, with several bearish analysts trimming price targets despite the company’s resilient fundamentals.
ALFA
SEK 461.40
Alfa Laval
7D
0.7%
1Y
-0.1%

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.
BEIA B
SEK 294.00
Beijer Alma
7D
3.7%
1Y
77.8%
ATCO A
SEK 164.95
Atlas Copco
7D
0.6%
1Y
-2.2%
EPRO B
SEK 64.00
Electrolux Professional
7D
-1.7%
1Y
-7.4%
HUSQ B
SEK 45.38
Husqvarna
7D
-3.3%
1Y
-20.5%

HUSQ B: Recovery Roadmap And AI Mowers Will Unlock Future Upside

Analysts have trimmed their fair value estimate for Husqvarna from SEK 65.50 to SEK 62.30, reflecting a slightly higher perceived risk profile and limited upside until management presents a clearer recovery and growth plan, even as revenue growth and profit margins are expected to improve. Analyst Commentary Recent Street research reflects a cautiously constructive stance on Husqvarna, with the lowered price targets framed more as a recalibration of risk and timing rather than a wholesale change in the long term investment case.
SALT B
SEK 3.83
SaltX Technology Holding
7D
-8.8%
1Y
13.8%
TROAX
SEK 148.00
Troax Group
7D
1.1%
1Y
-35.1%

Why Troax Group AB (publ) (STO:TROAX) Could Be Worth Watching

Dec 15
Why Troax Group AB (publ) (STO:TROAX) Could Be Worth Watching
SKF B
SEK 242.50
AB SKF
7D
0.6%
1Y
17.4%

SKF B: Autos Spin-Off And New Steel Development Will Shape Future Outlook

Analysts have modestly reduced their fair value estimate for AB SKF to roughly SEK 267 from about SEK 267 previously, reflecting slightly lower revenue growth and margin assumptions, as well as a mixed but still constructive range of updated price targets from the Street. Analyst Commentary Recent Street research presents a mixed but generally constructive view on AB SKF, with price targets clustering in the mid to high SEK 200s and ratings ranging from Neutral to Buy.
TREL B
SEK 387.90
Trelleborg
7D
0.3%
1Y
2.7%

TREL B: Shares Will Reflect Modest Margin Progress And Easing Discount Rate Risk

Analysts have nudged their price target on Trelleborg slightly higher, lifting the fair value estimate from SEK 415.25 to SEK 416.25 as modestly lower discount rates and a marginally stronger long term profit outlook support a small upward revision. Analyst Commentary Recent Street research suggests that while the latest price target increase is modest, it reflects a gradual improvement in confidence around Trelleborg's medium term prospects rather than a radical shift in outlook.
INDT
SEK 237.40
Indutrade
7D
-0.5%
1Y
-13.7%

INDT: Future Acquisition Pipeline Will Drive Upside Despite Margin Headwinds

Analysts have trimmed their fair value estimate for Indutrade from SEK 275 to about SEK 272, reflecting slightly lower profit margin and valuation assumptions, even as revenue growth expectations edge higher, following a recent downgrade to Hold from Buy and a SEK 235 price target on the stock. Analyst Commentary Analysts are reassessing Indutrade’s risk reward profile following the recent downgrade, with a more balanced view emerging between the company’s structural growth strengths and near term valuation and margin pressures.
EPI A
SEK 205.70
Epiroc
7D
-1.6%
1Y
7.0%

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
ENGCON B
SEK 80.90
engcon
7D
1.5%
1Y
-20.7%

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

Nov 26
engcon (STO:ENGCON B) Could Easily Take On More Debt
VBG B
SEK 383.00
VBG Group
7D
-1.4%
1Y
23.9%
CI
SEK 0.17
Cell Impact
7D
-35.7%
1Y
-88.4%