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Swedish (OMX) Machinery Industry Analysis

UpdatedMar 29, 2026
DataAggregated Company Financials
Companies37
  • 7D2.4%
  • 3M0.6%
  • 1Y5.2%
  • YTD-0.4%

The Machinery industry is up 2.4% in the last week, with AB Volvo up 4.2%. This means that the industry has gained 5.2% over the past year. 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
Sun, 29 Mar 2026SEK 2.6tSEK 1.2tSEK 106.7b22.9x24.4x2.3x
Tue, 24 Feb 2026SEK 3.0tSEK 1.2tSEK 106.7b24.8x28.3x2.6x
Thu, 22 Jan 2026SEK 2.8tSEK 1.2tSEK 109.9b24.9x25.5x2.4x
Sat, 20 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.3x23.4x2.2x
Mon, 17 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b24.1x22.2x2.1x
Wed, 15 Oct 2025SEK 2.5tSEK 1.2tSEK 113.3b22.7x21.7x2.1x
Fri, 12 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.2x21.4x2x
Sun, 10 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b24.1x21x2x
Tue, 08 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b23.6x19.1x1.9x
Thu, 05 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b24.7x19x1.9x
Sat, 03 May 2025SEK 2.3tSEK 1.2tSEK 123.3b21.1x18.6x1.9x
Mon, 31 Mar 2025SEK 2.5tSEK 1.2tSEK 125.5b23.6x19.7x2x
Wed, 26 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.6x21.7x2.2x
Fri, 24 Jan 2025SEK 2.7tSEK 1.2tSEK 124.3b27.8x21.4x2.2x
Sun, 22 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.1x19.4x2x
Tue, 19 Nov 2024SEK 2.5tSEK 1.2tSEK 124.4b25.2x19.7x2x
Thu, 17 Oct 2024SEK 2.6tSEK 1.2tSEK 130.0b24.9x19.6x2x
Sat, 14 Sep 2024SEK 2.5tSEK 1.2tSEK 130.0b25.9x19x2x
Mon, 12 Aug 2024SEK 2.4tSEK 1.2tSEK 129.9b24.5x18.7x2x
Wed, 10 Jul 2024SEK 2.6tSEK 1.2tSEK 125.4b26.3x20.6x2.1x
Fri, 07 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b25.3x21.6x2.2x
Sun, 05 May 2024SEK 2.6tSEK 1.2tSEK 125.4b26.8x20.9x2.1x
Tue, 02 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.9x20.4x2.1x
Thu, 29 Feb 2024SEK 2.5tSEK 1.2tSEK 127.0b24.5x19.9x2x
Sat, 27 Jan 2024SEK 2.3tSEK 1.3tSEK 125.8b21.4x18.4x1.9x
Mon, 25 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.2x20.1x2x
Wed, 22 Nov 2023SEK 2.2tSEK 1.2tSEK 119.8b21.8x18.6x1.8x
Fri, 20 Oct 2023SEK 2.1tSEK 1.2tSEK 116.8b21.4x17.8x1.7x
Sun, 17 Sep 2023SEK 2.2tSEK 1.2tSEK 111.4b22.1x19.6x1.8x
Tue, 15 Aug 2023SEK 2.2tSEK 1.2tSEK 111.3b23.3x19.4x1.8x
Thu, 13 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24.3x20.7x1.9x
Sat, 10 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b23.9x21x1.9x
Mon, 08 May 2023SEK 2.2tSEK 1.1tSEK 106.1b24.2x20.3x1.9x
Wed, 05 Apr 2023SEK 2.1tSEK 1.1tSEK 97.3b22.6x21.7x1.9x
Price to Earnings Ratio

21.7x


Total Market Cap: SEK 2.1tTotal Earnings: SEK 97.3bTotal Revenue: SEK 1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 20.7x202420252026
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 24.4x which is higher than its 3-year average PE of 20.7x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.3x.
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 Market0.097%
Industrials1.43%
Machinery2.39%
Agricultural Machinery5.22%
Construction Machinery and Vehicles3.66%
Industrial Machinery1.70%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 25.6x.
    • Analysts are expecting annual earnings growth of 9.9%, 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 25.0x.
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 9.9% 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
VOLV B AB VolvoSEK 300.104.2%
+SEK 24.4b		-0.5%PE17.7x
SAND SandvikSEK 344.703.2%
+SEK 13.3b		58.0%PE29.4x
ATCO A Atlas CopcoSEK 160.201.4%
+SEK 10.5b		-2.3%PE29.5x
EPI A EpirocSEK 223.302.4%
+SEK 6.3b		8.7%PE31.4x
SKF B AB SKFSEK 217.903.4%
+SEK 3.2b		5.3%PE25.3x

Latest News

INDT
SEK 205.60
Indutrade
7D
2.5%
1Y
-27.6%
HUSQ B
SEK 36.98
Husqvarna
7D
5.2%
1Y
-24.0%
ALIG
SEK 106.80
Alimak Group
7D
-0.4%
1Y
-20.4%

ALIG: Acquisition Pipeline And Dividend Policy Will Support Future Upside Potential

Analysts have kept Alimak Group's SEK 148.67 price target unchanged, citing only small adjustments to the discount rate and future P/E assumptions, with no new Street research to materially shift the valuation view. What's in the News Alimak Group AB is actively looking for acquisitions, with management highlighting ongoing work on potential deals supported by relatively low leverage and available financial capacity (Key Developments).
FREEM
SEK 1.42
Freemelt Holding
7D
-2.4%
1Y
31.5%

FREEM: Fusion Partnerships And Tungsten Progress Will Support A Steady Outlook

Analysts have slightly adjusted their Freemelt Holding assumptions, keeping the fair value unchanged at SEK 1.5 while reflecting only marginal shifts in discount rate, revenue growth, profit margin and future P/E. Taken together, these factors support a steady SEK 1.5 price target.
ALFA
SEK 502.40
Alfa Laval
7D
-0.8%
1Y
13.5%
EPI A
SEK 223.30
Epiroc
7D
2.4%
1Y
8.7%

EPI A: Africa Automation Order Will Support Steady Stance On Rich P/E

Analysts have raised their price target for Epiroc to SEK 238.58 from SEK 235.95, reflecting updated assumptions about revenue growth, profit margin and future P/E inputs in their models. What's in the News Epiroc secured a large order in Africa for autonomous and electric surface mining equipment, focused on productivity and sustainability in mining and infrastructure (Key Developments).
EPRO B
SEK 49.25
Electrolux Professional
7D
-5.5%
1Y
-24.1%
SAND
SEK 344.70
Sandvik
7D
3.2%
1Y
58.0%

SAND: Elevated P/E Assumptions Will Expose Mining Cycle Execution Risk

The updated analyst price target for Sandvik now reflects a fair value estimate of SEK 226.86, up from SEK 216.17, with analysts pointing to higher Street targets in the SEK 355 to SEK 404 range and slightly revised assumptions for growth, profitability, and future P/E multiples. Analyst Commentary Recent Street research around Sandvik presents a split picture, with several higher price targets on one side and more cautious positioning on the other.
ATCO A
SEK 160.20
Atlas Copco
7D
1.4%
1Y
-2.3%
SKF B
SEK 217.90
AB SKF
7D
3.4%
1Y
5.3%

SKF B: Mixed Rating Shifts Will Support Constructive SEK 260 Upside Potential

Analysts have made a modest upward shift in the SEK price target for AB SKF, with recent SEK 260 updates described in the context of mixed rating changes and revised expectations for margins, discount rates and future P/E multiples. Analyst Commentary Recent research on AB SKF reflects a mixed backdrop, with some firms adjusting price targets higher toward SEK 260 while several large houses have moved to more cautious ratings.
VOLV B
SEK 300.10
AB Volvo
7D
4.2%
1Y
-0.5%

VOLV B: Prolonged Truck Downturn Will Likely Undermine Elevated Future Earnings Expectations

Analysts have nudged the fair value estimate for AB Volvo up to SEK 250 from SEK 245, reflecting recent target increases across several firms while still accounting for mixed views on truck cycle strength and valuation, including higher assumed future P/E multiples and modest adjustments to growth, margins and discount rates. Analyst Commentary Recent Street research on AB Volvo shows a mix of optimism on valuation and caution on the truck cycle and execution risk.
TROAX
SEK 92.10
Troax Group
7D
-0.9%
1Y
-47.6%

TROAX: Swedish Reshoring And Cost Savings Will Support Future Upside

Analysts have kept their SEK 158.01 price target for Troax Group broadly unchanged, with only minor tweaks to the discount rate and future P/E assumptions, which has led to a very small recalibration in their valuation approach. What's in the News Troax Group plans a CFO transition at the end of the first quarter of 2026, with current Group Controller Carl-Henric Söderblom set to become interim CFO when current CFO Anders Eklöf leaves.
TREL B
SEK 339.70
Trelleborg
7D
2.6%
1Y
-11.5%

TREL B: Future View Will Center On Structural Shift Conviction

Analysts have made a modest adjustment to their SEK-based price target for Trelleborg, reflecting mixed recent views that include a SEK 10 reduction from some banks, alongside continued support for the company’s shift toward structural growth areas and its addition to a European conviction list. Analyst Commentary Bullish Takeaways Goldman Sachs adding Trelleborg to its European Conviction List signals confidence that the current valuation still leaves room for upside if the company delivers on its plans.
BAWAT
SEK 0.82
Bawat Water Technologies
7D
-12.3%
1Y
-16.3%
FLEXQ
SEK 18.40
FlexQube
7D
-14.4%
1Y
152.1%
ENRAD
SEK 10.30
Enrad
7D
-7.2%
1Y
-1.9%

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

Oct 14
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