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Swedish (OMX) Machinery Industry Analysis

UpdatedAug 27, 2026
DataAggregated Company Financials
Companies38
  • 7D5.3%
  • 3M10.2%
  • 1Y30.7%
  • YTD20.6%

Over the last 7 days, the Machinery industry has risen 5.3%, driven by gains in Atlas Copco and Sandvik of 3.6% and 6.9%, respectively. In the last 12 months, the industry was up 31%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 28 Aug 2026SEK 3.1tSEK 1.2tSEK 111.1b25.3x28.3x2.7x
Sun, 26 Jul 2026SEK 3.0tSEK 1.1tSEK 111.2b24.6x27.4x2.6x
Tue, 23 Jun 2026SEK 3.0tSEK 1.1tSEK 104.8b26.4x28.7x2.7x
Thu, 21 May 2026SEK 2.8tSEK 1.1tSEK 104.8b26x27x2.5x
Sat, 18 Apr 2026SEK 3.0tSEK 1.2tSEK 106.7b25.3x28.1x2.6x
Mon, 16 Mar 2026SEK 2.8tSEK 1.2tSEK 106.7b22.1x25.8x2.4x
Wed, 11 Feb 2026SEK 3.0tSEK 1.2tSEK 106.6b25x28x2.6x
Fri, 09 Jan 2026SEK 2.7tSEK 1.2tSEK 109.9b24.5x24.5x2.3x
Sun, 07 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.5x23.7x2.2x
Tue, 04 Nov 2025SEK 2.5tSEK 1.2tSEK 110.0b24.1x22.3x2.1x
Thu, 02 Oct 2025SEK 2.4tSEK 1.2tSEK 113.3b22.5x21.3x2x
Sat, 30 Aug 2025SEK 2.4tSEK 1.2tSEK 113.2b23.1x21.3x2x
Mon, 28 Jul 2025SEK 2.4tSEK 1.2tSEK 113.3b24.6x21.4x2x
Wed, 25 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b23.7x18.5x1.9x
Fri, 23 May 2025SEK 2.3tSEK 1.2tSEK 123.4b21.9x19x1.9x
Sun, 20 Apr 2025SEK 2.2tSEK 1.2tSEK 128.0b21.1x17x1.8x
Tue, 18 Mar 2025SEK 2.6tSEK 1.2tSEK 125.4b25.2x21.1x2.2x
Thu, 13 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.5x21.4x2.2x
Sat, 11 Jan 2025SEK 2.5tSEK 1.2tSEK 124.3b25.3x19.9x2x
Mon, 09 Dec 2024SEK 2.6tSEK 1.2tSEK 124.4b26.3x20.7x2.1x
Wed, 06 Nov 2024SEK 2.5tSEK 1.2tSEK 124.3b27.4x20.3x2.1x
Fri, 04 Oct 2024SEK 2.6tSEK 1.2tSEK 130.0b25.3x20.2x2.1x
Sun, 01 Sep 2024SEK 2.6tSEK 1.2tSEK 129.9b26.9x19.8x2.1x
Tue, 30 Jul 2024SEK 2.6tSEK 1.2tSEK 130.0b25.2x19.7x2.1x
Thu, 27 Jun 2024SEK 2.6tSEK 1.2tSEK 125.4b26.9x21x2.1x
Sat, 25 May 2024SEK 2.8tSEK 1.2tSEK 125.4b25.6x22.1x2.2x
Mon, 22 Apr 2024SEK 2.6tSEK 1.2tSEK 128.1b23.2x20x2x
Wed, 20 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b23.1x20.7x2.1x
Fri, 16 Feb 2024SEK 2.4tSEK 1.2tSEK 126.9b22.6x19.1x1.9x
Sun, 14 Jan 2024SEK 2.3tSEK 1.2tSEK 119.8b22.7x19.5x1.9x
Tue, 12 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22x19.7x1.9x
Thu, 09 Nov 2023SEK 2.1tSEK 1.2tSEK 118.6b22.2x17.7x1.7x
Sat, 07 Oct 2023SEK 2.1tSEK 1.2tSEK 111.4b22.6x19.2x1.8x
Mon, 04 Sep 2023SEK 2.2tSEK 1.2tSEK 111.4b21.1x19.3x1.8x
Price to Earnings Ratio

19.3x


Total Market Cap: SEK 2.2tTotal Earnings: SEK 111.4bTotal Revenue: SEK 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 21.7x202420252026
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 28.3x which is higher than its 3-year average PE of 21.7x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Machinery industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

SE Market2.16%
Industrials3.71%
Machinery5.31%
Construction Machinery and Vehicles5.51%
Industrial Machinery5.25%
Agricultural Machinery1.70%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 26.4x.
    • Analysts are expecting annual earnings growth of 12.9%, which is higher than its past year's earnings decline of 2.9% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 23.0x.
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 growth rate of 11% per year.
  • In contrast, the Construction Machinery and Vehicles industry is expected to see its earnings grow by 13% 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 208.503.6%
+SEK 35.6b		37.2%PE38.2x
SAND SandvikSEK 394.106.9%
+SEK 31.9b		63.3%PE29.3x
EPI A EpirocSEK 273.306.1%
+SEK 19.0b		36.8%PE37.4x
VOLV B AB VolvoSEK 346.401.9%
+SEK 13.0b		18.5%PE19.7x
ALFA Alfa LavalSEK 576.605.1%
+SEK 11.7b		32.2%PE29.1x

Latest News

SAND
SEK 394.10
Sandvik
7D
6.9%
1Y
63.3%
ALFA
SEK 576.60
Alfa Laval
7D
5.1%
1Y
32.2%
Narrative Update • Aug 26

ALFA: Fair Outlook As Incremental Rating Shifts Test Execution Delivery

The analyst price target for Alfa Laval has been raised from SEK 547 to SEK 589, reflecting updated assumptions on revenue growth and a series of higher SEK 540 to SEK 650 price targets from Citi, RBC Capital, Morgan Stanley, JPMorgan, Deutsche Bank, and Pareto in recent research. Analyst Commentary Recent research on Alfa Laval shows a cluster of higher price targets, with views spread across Neutral, Equal Weight, Outperform and Buy ratings.
IMPC
SEK 2.74
Impact Coatings
7D
-6.8%
1Y
-29.6%
CI
SEK 0.05
Cell Impact
7D
-17.6%
1Y
-71.3%
HYCO
SEK 1.54
Hybricon
7D
-11.0%
1Y
27.3%
CNCJO B
SEK 47.20
Concejo
7D
-4.1%
1Y
-7.5%
ATCO A
SEK 208.50
Atlas Copco
7D
3.6%
1Y
37.2%
Narrative Update • Aug 19

ATCO A: Rich P E Will Be Tested By Semiconductor Capex Dependence

Atlas Copco's analyst price target has been raised by SEK 4.54 to SEK 168.03 as analysts factor in higher forecast revenue growth, a slightly adjusted discount rate, and updated views on margins and future P/E, with recent target increases from several banks reflecting this recalibration. Analyst Commentary Recent Street research on Atlas Copco shows a split in opinion on the stock, with several large banks increasing price targets while a minority of bearish analysts keep a more cautious stance.
VOLV B
SEK 346.40
AB Volvo
7D
1.9%
1Y
18.5%
Narrative Update • Aug 18

VOLV B: Order Strength Will Eventually Clash With Margin Execution Risks

The analyst fair value estimate for AB Volvo has increased from SEK 270 to SEK 280. Analysts cite stronger truck order trends in North America, higher management sales forecasts in Europe and China, and recent price target increases across several firms as support for the change.
SKF B
SEK 276.10
AB SKF
7D
6.2%
1Y
12.6%
Narrative Update • Aug 17

SKF B: Incremental Rating Shifts And Robotics JV Will Shape Balanced Outlook

Analysts have lifted the fair value estimate for AB SKF to SEK 266.06 from SEK 260.76, reflecting higher Street price targets toward SEK 270 to SEK 290 and updated assumptions for slightly stronger revenue growth, profit margins and a lower future P/E. Analyst Commentary Recent Street research on AB SKF shows a tight cluster of price targets between SEK 230 and SEK 290.
FREEM
SEK 1.27
Freemelt Holding
7D
-4.6%
1Y
-43.4%
INDT
SEK 250.40
Indutrade
7D
3.8%
1Y
4.2%
Narrative Update • Aug 15

INDT: Recent Rating Upgrade And CFO Appointment Will Support Future Upside

Analysts now place Indutrade's fair value at SEK 280.75, up from SEK 248.13. This reflects updated assumptions on revenue growth, profitability and future P/E, alongside recent Street views that range from a SEK 211 target with a Neutral stance to a SEK 229 target with a Buy rating.
EPI A
SEK 273.30
Epiroc
7D
6.1%
1Y
36.8%
Narrative Update • Aug 03

EPI A: Connectivity Partnerships And Autonomy Rollout Will Support Balanced Outlook

Analysts have lifted their price target for Epiroc from SEK185 to about SEK222.63, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that together support a higher valuation framework. What’s in the News for Epiroc Epiroc Mexico and Rajant Corporation agreed a partnership to offer deployment ready Kinetic Mesh wireless connectivity for mining customers in Mexico, with a focus on more reliable communications for mobile equipment fleets and support for automation.
TREL B
SEK 440.60
Trelleborg
7D
3.6%
1Y
20.6%
Narrative Update • Aug 01

TREL B: Future View Will Balance Expanded Buybacks And Mixed Rating Signals

Trelleborg's updated analyst price target rises to SEK 446 from SEK 429, with analysts pointing to slightly higher revenue growth assumptions, a modestly lower discount rate and a recalibrated future P/E multiple as key drivers of the change. Analyst Commentary Recent Street research on Trelleborg shows a mix of cautious and constructive views on the stock, with price targets set in both CHF and SEK.
AGES B
SEK 45.00
AGES Industri
7D
-1.7%
1Y
-22.4%
NOTEK
SEK 10.80
Norditek Group
7D
-7.3%
1Y
-28.9%
OPTI
SEK 2.45
OptiCept Technologies
7D
-1.8%
1Y
-50.6%