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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 1.4% in the last week, with Sandvik up 5.2%. In the last 12 months, the industry was up 14%. 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
Mon, 02 Mar 2026SEK 3.1tSEK 1.2tSEK 106.7b24.7x28.7x2.7x
Wed, 28 Jan 2026SEK 2.9tSEK 1.2tSEK 109.9b25x25.9x2.4x
Fri, 26 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.4x23.4x2.2x
Sun, 23 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b23.2x21.9x2.1x
Tue, 21 Oct 2025SEK 2.5tSEK 1.2tSEK 111.1b23.3x22.4x2.1x
Thu, 18 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.1x21.3x2x
Sat, 16 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b23.9x21.1x2x
Mon, 14 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b24.3x19.6x2x
Wed, 11 Jun 2025SEK 2.4tSEK 1.2tSEK 123.4b24x19.3x2x
Fri, 09 May 2025SEK 2.3tSEK 1.2tSEK 123.3b23.4x18.6x1.9x
Sun, 06 Apr 2025SEK 2.1tSEK 1.2tSEK 125.5b21.2x17.1x1.8x
Tue, 04 Mar 2025SEK 2.7tSEK 1.2tSEK 125.4b26.4x21.6x2.2x
Thu, 30 Jan 2025SEK 2.7tSEK 1.2tSEK 125.4b28.7x21.3x2.2x
Sat, 28 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.4x19.5x2x
Mon, 25 Nov 2024SEK 2.4tSEK 1.2tSEK 124.4b24.7x19.7x2x
Wed, 23 Oct 2024SEK 2.5tSEK 1.2tSEK 125.3b27.1x20.1x2.1x
Fri, 20 Sep 2024SEK 2.6tSEK 1.2tSEK 130.0b26.4x19.6x2x
Sun, 18 Aug 2024SEK 2.5tSEK 1.2tSEK 129.9b24.4x19.3x2x
Tue, 16 Jul 2024SEK 2.7tSEK 1.2tSEK 125.4b26.6x21.3x2.1x
Thu, 13 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b27.3x21.4x2.2x
Sat, 11 May 2024SEK 2.7tSEK 1.2tSEK 125.4b27.7x21.8x2.2x
Mon, 08 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.7x20.6x2.1x
Wed, 06 Mar 2024SEK 2.5tSEK 1.2tSEK 127.0b22.4x20x2x
Fri, 02 Feb 2024SEK 2.4tSEK 1.3tSEK 126.4b22.2x18.7x1.9x
Sun, 31 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.3x20.2x2x
Tue, 28 Nov 2023SEK 2.3tSEK 1.2tSEK 119.8b22x18.8x1.8x
Thu, 26 Oct 2023SEK 2.0tSEK 1.2tSEK 117.3b20.6x17.5x1.7x
Sat, 23 Sep 2023SEK 2.1tSEK 1.2tSEK 111.4b22.4x19.1x1.8x
Mon, 21 Aug 2023SEK 2.1tSEK 1.2tSEK 111.3b21x19x1.8x
Wed, 19 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24.8x20.8x1.9x
Fri, 16 Jun 2023SEK 2.3tSEK 1.1tSEK 106.2b24x21.3x2x
Sun, 14 May 2023SEK 2.2tSEK 1.1tSEK 106.1b23.6x20.3x1.9x
Tue, 11 Apr 2023SEK 2.0tSEK 1.1tSEK 97.3b22.3x20.6x1.8x
Thu, 09 Mar 2023SEK 2.1tSEK 1.1tSEK 97.3b23.3x21.2x1.9x
Price to Earnings Ratio

21.2x


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 399.404.3%
+SEK 20.4b		71.3%PE34.1x
EPI A EpirocSEK 271.902.8%
+SEK 9.1b		29.1%PE38.2x
VOLV B AB VolvoSEK 351.800.5%
+SEK 3.5b		4.3%PE20.8x
ALFA Alfa LavalSEK 535.001.2%
+SEK 2.6b		15.0%PE26.7x
INDT IndutradeSEK 234.802.2%
+SEK 1.8b		-23.5%PE33.4x

Latest News

VOLV B
SEK 351.80
AB Volvo
7D
0.5%
1Y
4.3%
TREL B
SEK 395.80
Trelleborg
7D
-0.3%
1Y
-5.0%
OXE
SEK 0.27
OXE Marine
7D
-14.0%
1Y
-18.9%
INDT
SEK 234.80
Indutrade
7D
2.2%
1Y
-23.5%
TROAX
SEK 101.40
Troax Group
7D
4.3%
1Y
-48.9%
ENGCON B
SEK 66.50
engcon
7D
-6.9%
1Y
-37.3%

ENGCON B: Circularity Project Participation Will Support Long-Term Upside Potential

Analysts have trimmed their fair value estimate for engcon to about SEK 88 per share, down from roughly SEK 94. This reflects updated views on slightly softer revenue growth, profit margins and a higher discount rate, while keeping future P/E expectations broadly in line with prior assumptions.
SAND
SEK 399.40
Sandvik
7D
4.3%
1Y
71.3%

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 271.90
Epiroc
7D
2.8%
1Y
29.1%

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).
FREEM
SEK 1.35
Freemelt Holding
7D
-8.8%
1Y
130.8%

FREEM: Fusion Projects And Revised Assumptions Will Shape A Balanced Outlook

Analysts have trimmed their price target on Freemelt Holding to SEK1.50 from SEK1.70, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that indicate a more cautious valuation framework. What's in the News Freemelt signed a Memorandum of Understanding with Novatron Fusion Group to collaborate on manufacturing methods for fusion reactors, strengthening its presence in fusion related activities in the Nordic region.
CCC
SEK 12.20
Cavotec Group
7D
-5.4%
1Y
n/a
ATCO A
SEK 195.05
Atlas Copco
7D
0.1%
1Y
7.6%

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.
ALFA
SEK 535.00
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.
HUSQ B
SEK 43.50
Husqvarna
7D
-0.4%
1Y
-20.9%

HUSQ B: Golf Partnerships And Cautious Outlook Will Shape A Steady Path

Analysts have trimmed their price target on Husqvarna by SEK 2 to SEK 42, citing updates to fair value assumptions, a slightly higher discount rate, more cautious revenue and margin expectations, and a higher projected future P/E multiple. Analyst Commentary Bearish analysts have highlighted that the latest SEK 2 trim to the price target, to SEK 42, fits into a wider pattern of cautious revisions around Husqvarna.
EPRO B
SEK 59.40
Electrolux Professional
7D
2.8%
1Y
-20.4%

Electrolux Professional (STO:EPRO B) Is Increasing Its Dividend To SEK0.90

Feb 09
Electrolux Professional (STO:EPRO B) Is Increasing Its Dividend To SEK0.90
BAWAT
SEK 1.00
Bawat Water Technologies
7D
-13.8%
1Y
33.3%
ENRAD
SEK 10.50
Enrad
7D
-11.0%
1Y
-11.8%

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

Oct 14
We Think Enrad (NGM:ENRAD) Can Easily Afford To Drive Business Growth