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Swedish (OMX) Machinery Industry Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies37
  • 7D-2.7%
  • 3M3.3%
  • 1Y4.6%
  • YTD1.6%

Over the last 7 days, the Machinery industry has dropped 2.7%, driven by Atlas Copco declining 3.6%. In the past year, the industry has gained 4.6%. 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
Thu, 26 Mar 2026SEK 2.7tSEK 1.2tSEK 106.7b21.3x24.9x2.3x
Sat, 21 Feb 2026SEK 3.0tSEK 1.2tSEK 106.7b26.1x28.3x2.6x
Mon, 19 Jan 2026SEK 2.8tSEK 1.2tSEK 109.9b25.4x25.7x2.4x
Wed, 17 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.2x23.3x2.2x
Fri, 14 Nov 2025SEK 2.5tSEK 1.2tSEK 109.9b24.1x22.4x2.1x
Sun, 12 Oct 2025SEK 2.5tSEK 1.2tSEK 113.3b22.5x21.8x2.1x
Tue, 09 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.4x21.5x2.1x
Thu, 07 Aug 2025SEK 2.3tSEK 1.2tSEK 113.3b23.8x20.5x2x
Sat, 05 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b23.9x19.1x1.9x
Mon, 02 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b23.2x18.9x1.9x
Wed, 30 Apr 2025SEK 2.2tSEK 1.2tSEK 123.2b21.5x18.2x1.9x
Fri, 28 Mar 2025SEK 2.5tSEK 1.2tSEK 125.4b24.1x20.1x2.1x
Sun, 23 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.8x21.7x2.2x
Tue, 21 Jan 2025SEK 2.6tSEK 1.2tSEK 124.3b27.1x20.8x2.1x
Thu, 19 Dec 2024SEK 2.5tSEK 1.2tSEK 124.3b26.3x20.1x2x
Sat, 16 Nov 2024SEK 2.5tSEK 1.2tSEK 124.4b25.5x20x2x
Mon, 14 Oct 2024SEK 2.6tSEK 1.2tSEK 130.0b24.9x20.1x2.1x
Wed, 11 Sep 2024SEK 2.4tSEK 1.2tSEK 130.0b25.5x18.5x1.9x
Fri, 09 Aug 2024SEK 2.4tSEK 1.2tSEK 129.9b24.1x18.7x2x
Sun, 07 Jul 2024SEK 2.6tSEK 1.2tSEK 125.4b26.8x20.8x2.1x
Tue, 04 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b25.3x21.6x2.2x
Thu, 02 May 2024SEK 2.6tSEK 1.2tSEK 125.4b26.9x21.1x2.1x
Sat, 30 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b24.9x20.4x2.1x
Mon, 26 Feb 2024SEK 2.5tSEK 1.2tSEK 127.0b24.6x19.8x2x
Wed, 24 Jan 2024SEK 2.3tSEK 1.2tSEK 119.8b21.3x19.4x1.9x
Fri, 22 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.2x20.1x2x
Sun, 19 Nov 2023SEK 2.2tSEK 1.2tSEK 119.8b21.6x18.5x1.8x
Tue, 17 Oct 2023SEK 2.2tSEK 1.2tSEK 111.4b21.9x19.4x1.8x
Thu, 14 Sep 2023SEK 2.1tSEK 1.2tSEK 111.4b22.2x19.2x1.8x
Sat, 12 Aug 2023SEK 2.2tSEK 1.2tSEK 111.4b23.5x19.4x1.8x
Mon, 10 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24.2x20.3x1.9x
Wed, 07 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24.2x20.9x1.9x
Fri, 05 May 2023SEK 2.1tSEK 1.1tSEK 106.1b23.5x20.2x1.9x
Sun, 02 Apr 2023SEK 2.1tSEK 1.1tSEK 97.3b22.7x21.7x1.9x
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 24.9x 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 Market-2.46%
Industrials-2.66%
Machinery-2.68%
Agricultural Machinery0.33%
Industrial Machinery-2.62%
Construction Machinery and Vehicles-2.86%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 25.6x.
    • 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 25.1x.
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
ATCO A Atlas CopcoSEK 162.551.8%
+SEK 13.6b		-2.4%PE30x
SAND SandvikSEK 347.402.9%
+SEK 12.2b		55.2%PE29.7x
VOLV B AB VolvoSEK 300.301.9%
+SEK 11.2b		-2.1%PE17.7x
EPI A EpirocSEK 226.503.1%
+SEK 8.3b		8.0%PE31.8x
SKF B AB SKFSEK 221.803.2%
+SEK 3.1b		4.8%PE25.7x

Latest News

EPI A
SEK 226.50
Epiroc
7D
3.1%
1Y
8.0%

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
-8.1%
1Y
-22.9%
SAND
SEK 347.40
Sandvik
7D
2.9%
1Y
55.2%

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 162.55
Atlas Copco
7D
1.8%
1Y
-2.4%
SKF B
SEK 221.80
AB SKF
7D
3.2%
1Y
4.8%

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 300.30
AB Volvo
7D
1.9%
1Y
-2.1%

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 92.50
Troax Group
7D
-4.5%
1Y
-50.3%

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 341.40
Trelleborg
7D
1.4%
1Y
-12.6%

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.
INDT
SEK 208.00
Indutrade
7D
1.7%
1Y
-28.0%

INDT: Refined Acquisition Pipeline And Dividend Policy Will Support Future Earnings Resilience

Analysts have nudged their SEK price target for Indutrade slightly higher, with the updated fair value estimate moving from about SEK 314.62 to roughly SEK 315.49, reflecting refreshed assumptions on growth, margins and future P/E after recent research updates. Analyst Commentary Bullish analysts point to the refreshed fair value estimate of about SEK 315.49 as a sign of steady confidence in Indutrade, even if the adjustment from roughly SEK 314.62 is modest.
ENGCON B
SEK 61.80
engcon
7D
-3.3%
1Y
-34.3%
HUSQ B
SEK 37.54
Husqvarna
7D
5.1%
1Y
-23.9%

HUSQ B: Reset Assumptions And Higher Future P/E Will Support Rerating

Analysts have trimmed their SEK price target for Husqvarna by SEK 2.30 to SEK 60.00, reflecting updated assumptions for revenue growth, profitability, discount rate, and a higher future P/E multiple. Analyst Commentary Recent research points to a more measured stance on Husqvarna, with the latest SEK 60.00 price target reflecting revised assumptions on growth, margins, and valuation multiples.
FREEM
SEK 1.43
Freemelt Holding
7D
-8.6%
1Y
28.8%

FREEM: Fusion Reactor Collaboration Will Shape A More Positive Outlook

Analysts have slightly reduced their SEK price target on Freemelt Holding, reflecting a marginally lower discount rate, a small adjustment to long term profit margin assumptions, and a slightly higher future P/E expectation. What's in the News Freemelt signed a Memorandum of Understanding with Novatron Fusion Group to collaborate on manufacturing methods for fusion reactors, focusing on fusion related activities in the Nordic market (Key Developments).
ALIG
SEK 108.40
Alimak Group
7D
-0.7%
1Y
-21.6%

ALIG: Acquisition Capacity And Dividend Commitment Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Alimak Group from SEK 171 to about SEK 149, reflecting updated assumptions that include a slightly higher discount rate, modestly adjusted revenue growth expectations, a lower profit margin outlook, and a similar future P/E multiple. What's in the News Alimak Group AB is actively looking for acquisition opportunities, supported by what management describes as relatively low leverage and financial room to pursue deals while keeping capital allocation priorities unchanged (Key Developments).
CCC
SEK 11.15
Cavotec Group
7D
-0.9%
1Y
n/a
BIOEX
SEK 2.56
Bioextrax
7D
-4.5%
1Y
0.8%
FLEXQ
SEK 19.20
FlexQube
7D
-5.0%
1Y
148.1%