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Swedish (OMX) Machinery Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies37
  • 7D-2.2%
  • 3M6.1%
  • 1Y4.9%
  • YTD5.3%

Over the last 7 days, the Machinery industry has dropped 2.2%, driven by a pullback from Atlas Copco of 2.8%. Over the past 12 months, the industry was up 4.9%. 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
Sat, 14 Mar 2026SEK 2.8tSEK 1.2tSEK 106.7b22.1x25.8x2.4x
Mon, 09 Feb 2026SEK 3.0tSEK 1.2tSEK 106.6b24.9x27.8x2.6x
Wed, 07 Jan 2026SEK 2.6tSEK 1.2tSEK 109.9b24.7x24.1x2.3x
Fri, 05 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.6x23.6x2.2x
Sun, 02 Nov 2025SEK 2.5tSEK 1.2tSEK 110.0b24.4x22.6x2.1x
Tue, 30 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b22.6x21.1x2x
Thu, 28 Aug 2025SEK 2.4tSEK 1.2tSEK 113.2b23.1x21.3x2x
Sat, 26 Jul 2025SEK 2.4tSEK 1.2tSEK 113.3b24.6x21.4x2x
Mon, 23 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b24x18.5x1.9x
Wed, 21 May 2025SEK 2.4tSEK 1.2tSEK 123.4b22.5x19.7x2x
Fri, 18 Apr 2025SEK 2.2tSEK 1.2tSEK 128.0b21.1x17x1.8x
Sun, 16 Mar 2025SEK 2.6tSEK 1.2tSEK 125.4b25.2x20.9x2.2x
Tue, 11 Feb 2025SEK 2.7tSEK 1.2tSEK 125.5b26.4x21.2x2.2x
Thu, 09 Jan 2025SEK 2.5tSEK 1.2tSEK 124.3b25x20x2x
Sat, 07 Dec 2024SEK 2.6tSEK 1.2tSEK 124.4b26.3x20.7x2.1x
Mon, 04 Nov 2024SEK 2.5tSEK 1.2tSEK 124.3b27.7x20.1x2x
Wed, 02 Oct 2024SEK 2.6tSEK 1.2tSEK 130.0b24.9x20.2x2.1x
Fri, 30 Aug 2024SEK 2.6tSEK 1.2tSEK 129.9b26.6x19.7x2.1x
Sun, 28 Jul 2024SEK 2.6tSEK 1.2tSEK 130.0b25.1x19.7x2.1x
Tue, 25 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b28x21.3x2.1x
Thu, 23 May 2024SEK 2.8tSEK 1.2tSEK 125.4b25.5x22x2.2x
Sat, 20 Apr 2024SEK 2.6tSEK 1.2tSEK 128.1b23.7x20.3x2.1x
Mon, 18 Mar 2024SEK 2.7tSEK 1.2tSEK 127.0b23.4x20.9x2.1x
Wed, 14 Feb 2024SEK 2.4tSEK 1.2tSEK 126.9b21.8x18.8x1.9x
Fri, 12 Jan 2024SEK 2.3tSEK 1.2tSEK 119.8b22.2x19.2x1.9x
Sun, 10 Dec 2023SEK 2.3tSEK 1.2tSEK 119.8b22x19.5x1.9x
Tue, 07 Nov 2023SEK 2.1tSEK 1.2tSEK 118.6b22.3x17.8x1.7x
Thu, 05 Oct 2023SEK 2.1tSEK 1.2tSEK 111.4b21.9x19.2x1.8x
Sat, 02 Sep 2023SEK 2.2tSEK 1.2tSEK 111.3b21.1x19.3x1.8x
Mon, 31 Jul 2023SEK 2.2tSEK 1.2tSEK 111.4b24.1x20x1.9x
Wed, 28 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24.4x20.6x1.9x
Fri, 26 May 2023SEK 2.1tSEK 1.1tSEK 106.1b24.7x20.1x1.9x
Sun, 23 Apr 2023SEK 2.1tSEK 1.1tSEK 103.6b22.7x20.3x1.9x
Tue, 21 Mar 2023SEK 2.0tSEK 1.1tSEK 97.3b21.8x20.2x1.8x
Price to Earnings Ratio

20.2x


Total Market Cap: SEK 2.0tTotal 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 25.8x 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 2.4x.
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-1.14%
Industrials-1.95%
Machinery-2.23%
Construction Machinery and Vehicles-1.74%
Industrial Machinery-2.41%
Agricultural Machinery-8.37%
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 25.2x.
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
ALFA Alfa LavalSEK 524.402.2%
+SEK 4.6b		15.1%PE26.2x
ENGCON B engconSEK 64.803.8%
+SEK 366.0m		-34.2%PE45.3x
TROAX Troax GroupSEK 99.202.5%
+SEK 143.6m		-47.3%PE40.7x
FLEXQ FlexQubeSEK 19.8023.8%
+SEK 65.4m		153.8%PS3.2x
OPTI OptiCept TechnologiesSEK 2.6859.1%
+SEK 64.6m		-42.3%PS4x

Latest News

SAND
SEK 356.20
Sandvik
7D
-2.8%
1Y
52.5%
EPI A
SEK 239.20
Epiroc
7D
-2.2%
1Y
12.0%
INDT
SEK 212.00
Indutrade
7D
-3.3%
1Y
-28.3%
ENGCON B
SEK 64.80
engcon
7D
3.8%
1Y
-34.2%

ENGCON B: Circularity Project And Recalibrated Outlook Will Support Future Upside

Analysts have trimmed their price target on engcon to SEK 90 from SEK 100. This reflects a slightly lower assumed discount rate and modest adjustments to long-term valuation inputs, while maintaining a generally constructive view on the shares.
FREEM
SEK 1.49
Freemelt Holding
7D
14.6%
1Y
43.3%

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).
SKF B
SEK 222.90
AB SKF
7D
-5.6%
1Y
-3.2%
ATCO A
SEK 169.85
Atlas Copco
7D
-2.8%
1Y
-4.1%

ATCO A: Mixed Ratings And Special Dividend Will Shape Future Balance

The analyst price target for Atlas Copco has edged higher to SEK 194.0, with analysts citing a small adjustment to the discount rate and steady assumptions for revenue growth, profit margins and future P/E as key factors behind the move, despite mixed recent rating and target changes from Goldman Sachs, Deutsche Bank, Citi and Pareto. Analyst Commentary Recent research on Atlas Copco reflects a split view, with some on the Street focusing on earnings power and end market trends, and others concentrating on valuation risk and execution hurdles.
VOLV B
SEK 324.00
AB Volvo
7D
-1.6%
1Y
3.1%

VOLV B: Truck Cycle Weakness And Tariff Effects Will Shape Future Returns

Analysts have lifted the AB Volvo price target by SEK 8 to reflect slightly higher modeled fair value, supported by a series of recent SEK 10 to SEK 30 target increases and mixed rating changes that point to adjusted assumptions for revenue growth and margins despite ongoing truck market headwinds. Analyst Commentary Recent Street research on AB Volvo reflects a mix of optimism on valuation upside and caution around the truck cycle, with several firms adjusting price targets while fine tuning ratings.
BEIA B
SEK 239.50
Beijer Alma
7D
0.2%
1Y
18.9%
TROAX
SEK 99.20
Troax Group
7D
2.5%
1Y
-47.3%

TROAX: Swedish Production Shift And Cost Savings Will Support Future Upside

Analysts have kept their SEK 158.01 price target for Troax Group broadly unchanged, with only marginal tweaks to inputs such as the discount rate, long term revenue growth, profit margin and future P/E assumptions. What's in the News Troax plans a leadership transition in finance, with current Group Controller Carl-Henric Söderblom set to become interim CFO when Anders Eklöf leaves at the end of the first quarter of 2026, while the search for a permanent CFO continues (Key Developments).
TREL B
SEK 353.70
Trelleborg
7D
-3.1%
1Y
-13.3%

TREL B: Future View Will Balance Dividend Proposal With Portfolio Shift Conviction

The analyst price target for Trelleborg has been adjusted slightly lower to SEK 409, from about SEK 411, as analysts balance recent additions to high conviction lists with modest trims in target prices, while reiterating their focus on the company shifting its portfolio toward structural growth areas. Analyst Commentary Recent research on Trelleborg reflects a mix of optimism about the portfolio shift toward structural growth areas and some restraint on valuation, with target prices edging lower even as conviction on the story remains high.
ALFA
SEK 524.40
Alfa Laval
7D
2.2%
1Y
15.1%

ALFA: Elevated P E Multiples Will Strain Tanker Order Execution Ahead

Narrative Update: Alfa Laval The analyst fair value estimate for Alfa Laval has been lifted from SEK 425 to SEK 430, reflecting updated assumptions on revenue growth, profit margins and P/E multiples, as analysts point to stronger tanker order expectations, a more balanced valuation and a series of recent price target revisions, including moves to SEK 466 and SEK 500. Analyst Commentary Recent research updates on Alfa Laval highlight a mix of optimism and caution, with several firms adjusting their views and price targets in quick succession.
HUSQ B
SEK 37.57
Husqvarna
7D
-8.4%
1Y
-29.3%

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.
GARPCO B
SEK 270.00
Garpco Aktiebolag
7D
3.8%
1Y
11.6%
FLEXQ
SEK 19.80
FlexQube
7D
23.8%
1Y
153.8%
OPTI
SEK 2.68
OptiCept Technologies
7D
59.1%
1Y
-42.3%