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Swedish (OMX) Machinery Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies36
  • 7D1.3%
  • 3M22.1%
  • 1Y13.4%
  • YTD17.3%

The Machinery industry is up 1.3% in the last week, with Sandvik up 2.4%. This means that the industry has gained 13% over the past year. 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, 03 Mar 2026SEK 3.1tSEK 1.2tSEK 106.7b24.7x28.7x2.7x
Thu, 29 Jan 2026SEK 2.8tSEK 1.2tSEK 108.6b24.9x26.2x2.4x
Sat, 27 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.4x23.4x2.2x
Mon, 24 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b23.2x21.9x2.1x
Wed, 22 Oct 2025SEK 2.5tSEK 1.2tSEK 111.1b23.6x22.4x2.1x
Fri, 19 Sep 2025SEK 2.5tSEK 1.2tSEK 113.3b23.3x21.6x2.1x
Sun, 17 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b23.9x21.1x2x
Tue, 15 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b24.2x19.4x2x
Thu, 12 Jun 2025SEK 2.4tSEK 1.2tSEK 123.4b23.7x19.1x1.9x
Sat, 10 May 2025SEK 2.3tSEK 1.2tSEK 123.3b21.6x18.7x1.9x
Mon, 07 Apr 2025SEK 2.1tSEK 1.2tSEK 125.5b21.2x17.1x1.8x
Wed, 05 Mar 2025SEK 2.6tSEK 1.2tSEK 125.4b25.3x20.6x2.1x
Fri, 31 Jan 2025SEK 2.7tSEK 1.2tSEK 124.2b29.1x21.5x2.2x
Sun, 29 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.4x19.5x2x
Tue, 26 Nov 2024SEK 2.4tSEK 1.2tSEK 124.4b24.8x19.7x2x
Thu, 24 Oct 2024SEK 2.5tSEK 1.2tSEK 124.3b27.8x20.3x2.1x
Sat, 21 Sep 2024SEK 2.5tSEK 1.2tSEK 130.0b26.2x19.4x2x
Mon, 19 Aug 2024SEK 2.5tSEK 1.2tSEK 129.9b24.4x19.3x2x
Wed, 17 Jul 2024SEK 2.7tSEK 1.2tSEK 125.4b26.2x21.3x2.1x
Fri, 14 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b27.3x21.8x2.2x
Sun, 12 May 2024SEK 2.7tSEK 1.2tSEK 125.4b27.7x21.8x2.2x
Tue, 09 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.7x20.7x2.1x
Thu, 07 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b22.5x20.1x2x
Sat, 03 Feb 2024SEK 2.4tSEK 1.3tSEK 126.7b21.9x18.8x1.9x
Mon, 01 Jan 2024SEK 2.4tSEK 1.2tSEK 119.8b22.3x20.2x2x
Wed, 29 Nov 2023SEK 2.2tSEK 1.2tSEK 119.8b21.9x18.8x1.8x
Fri, 27 Oct 2023SEK 2.1tSEK 1.2tSEK 117.8b21.3x17.4x1.7x
Sun, 24 Sep 2023SEK 2.1tSEK 1.2tSEK 111.4b22.4x19.1x1.8x
Tue, 22 Aug 2023SEK 2.1tSEK 1.2tSEK 111.3b20.6x19x1.8x
Thu, 20 Jul 2023SEK 2.2tSEK 1.2tSEK 110.8b24.6x19.4x1.8x
Sat, 17 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24.1x21.1x2x
Mon, 15 May 2023SEK 2.2tSEK 1.1tSEK 106.1b23.6x20.3x1.9x
Wed, 12 Apr 2023SEK 2.0tSEK 1.1tSEK 97.3b22.2x21x1.9x
Fri, 10 Mar 2023SEK 2.1tSEK 1.1tSEK 97.3b22.8x21.1x1.9x
Price to Earnings Ratio

21.1x


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 20.6x202420252026
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 28.7x 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 2.7x.
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 Market1.88%
Industrials1.23%
Machinery1.27%
Industrial Machinery1.37%
Construction Machinery and Vehicles1.12%
Agricultural Machinery-0.43%
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 25.4x.
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
SAND SandvikSEK 392.202.4%
+SEK 11.4b		68.2%PE33.5x
EPI A EpirocSEK 267.101.0%
+SEK 3.3b		26.8%PE37.5x
ALFA Alfa LavalSEK 534.801.2%
+SEK 2.6b		15.0%PE26.7x
FLEXQ FlexQubeSEK 15.9547.7%
+SEK 88.7m		118.5%PS2.6x
TROAX Troax GroupSEK 98.301.1%
+SEK 65.8m		-50.5%PE40.7x

Latest News

SKF B
SEK 251.20
AB SKF
7D
-3.1%
1Y
7.5%
ENGCON B
SEK 63.40
engcon
7D
-9.9%
1Y
-38.3%
HUSQ B
SEK 41.79
Husqvarna
7D
-2.8%
1Y
-23.2%

HUSQ B: Recalibrated Assumptions And AI Mowers Will Shape Future Margin Recovery

Analysts have reduced their SEK price target on Husqvarna by SEK 4.33 to SEK 47.75, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research activity around Husqvarna has focused on recalibrating fair value assumptions rather than reacting to a single data point.
VOLV B
SEK 344.50
AB Volvo
7D
-1.6%
1Y
2.1%
TREL B
SEK 388.30
Trelleborg
7D
-2.2%
1Y
-6.8%
INDT
SEK 226.20
Indutrade
7D
-1.6%
1Y
-26.3%
TROAX
SEK 98.30
Troax Group
7D
1.1%
1Y
-50.5%
SAND
SEK 392.20
Sandvik
7D
2.4%
1Y
68.2%

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 267.10
Epiroc
7D
1.0%
1Y
26.8%

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).
ATCO A
SEK 190.00
Atlas Copco
7D
-2.5%
1Y
4.8%

ATCO A: Acquisition Appetite And Split Cycle Views Will Shape Future Balance

Analysts have made only a modest adjustment to their SEK price targets on Atlas Copco, reflecting a mix of recent target increases and cuts, alongside broadly unchanged fair value assumptions and slightly tweaked inputs such as discount rate and future P/E expectations. Analyst Commentary Recent Street research on Atlas Copco shows a split view, with some analysts highlighting operational upside and others focusing on execution risks and valuation sensitivities.
BEIA B
SEK 241.00
Beijer Alma
7D
-2.2%
1Y
22.2%
CNCJO B
SEK 44.60
Concejo
7D
3.7%
1Y
14.9%
SALT B
SEK 3.81
SaltX Technology Holding
7D
0.9%
1Y
-15.3%
ALFA
SEK 534.80
Alfa Laval
7D
1.2%
1Y
15.0%

ALFA: Rising P E Multiples Will Face Heightened Execution Risk Ahead

Alfa Laval's analyst price target has been adjusted from SEK 420 to SEK 425, as analysts factor in updated fair value, discount rate, revenue growth, profit margin and P/E assumptions following mixed target revisions from Deutsche Bank and JPMorgan. Analyst Commentary The latest Street research on Alfa Laval highlights a mixed but increasingly valuation-conscious setup, with recent target moves reflecting both optimism and caution around execution and earnings quality.
FLEXQ
SEK 15.95
FlexQube
7D
47.7%
1Y
118.5%
NOTEK
SEK 13.55
Norditek Group
7D
3.4%
1Y
25.5%