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Swedish (OMX) Machinery Industry Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies38
  • 7D3.8%
  • 3M2.1%
  • 1Y26.5%
  • YTD3.4%

Over the last 7 days, the Machinery industry has risen 3.8%, driven by gains in Sandvik and Atlas Copco of 6.0% and 3.3%, respectively. In the same time, Garpco Aktiebolag was down 5.2%. This takes the industry's 12 month performance to a gain of 27%. Looking forward, 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
Mon, 06 Apr 2026SEK 2.7tSEK 1.2tSEK 106.7b23.7x25.3x2.4x
Wed, 04 Mar 2026SEK 2.9tSEK 1.2tSEK 106.7b23.4x27.1x2.5x
Fri, 30 Jan 2026SEK 2.9tSEK 1.2tSEK 107.5b25.1x26.6x2.5x
Sun, 28 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.4x23.4x2.2x
Tue, 25 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b23.5x22.2x2.1x
Thu, 23 Oct 2025SEK 2.5tSEK 1.2tSEK 111.2b23.5x22.4x2.1x
Sat, 20 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.2x21.6x2.1x
Mon, 18 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b23.9x21.1x2x
Wed, 16 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b24.5x19.5x2x
Fri, 13 Jun 2025SEK 2.3tSEK 1.2tSEK 123.4b23.8x18.9x1.9x
Sun, 11 May 2025SEK 2.3tSEK 1.2tSEK 123.3b21.6x18.7x1.9x
Tue, 08 Apr 2025SEK 2.0tSEK 1.2tSEK 125.5b20.4x16.3x1.7x
Thu, 06 Mar 2025SEK 2.7tSEK 1.2tSEK 125.4b25.9x21.4x2.2x
Sat, 01 Feb 2025SEK 2.7tSEK 1.2tSEK 124.4b29.2x21.5x2.2x
Mon, 30 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.4x19.5x2x
Wed, 27 Nov 2024SEK 2.4tSEK 1.2tSEK 124.4b24.7x19.5x2x
Fri, 25 Oct 2024SEK 2.5tSEK 1.2tSEK 124.5b28.4x20.2x2x
Sun, 22 Sep 2024SEK 2.5tSEK 1.2tSEK 130.0b26.2x19.4x2x
Tue, 20 Aug 2024SEK 2.5tSEK 1.2tSEK 129.9b24.6x19.4x2x
Thu, 18 Jul 2024SEK 2.6tSEK 1.2tSEK 125.4b26.1x21x2.1x
Sat, 15 Jun 2024SEK 2.6tSEK 1.2tSEK 125.4b26.9x21x2.1x
Mon, 13 May 2024SEK 2.7tSEK 1.2tSEK 125.4b27.7x21.8x2.2x
Wed, 10 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.6x20.6x2.1x
Fri, 08 Mar 2024SEK 2.6tSEK 1.2tSEK 127.0b22.6x20.2x2.1x
Sun, 04 Feb 2024SEK 2.4tSEK 1.3tSEK 126.7b21.9x18.8x1.9x
Tue, 02 Jan 2024SEK 2.4tSEK 1.2tSEK 119.8b22.3x20.2x2x
Thu, 30 Nov 2023SEK 2.3tSEK 1.2tSEK 119.8b22x18.9x1.8x
Sat, 28 Oct 2023SEK 2.0tSEK 1.2tSEK 118.5b20x17.3x1.7x
Mon, 25 Sep 2023SEK 2.1tSEK 1.2tSEK 111.4b22.4x19.1x1.8x
Wed, 23 Aug 2023SEK 2.1tSEK 1.2tSEK 111.3b20.7x19.1x1.8x
Fri, 21 Jul 2023SEK 2.2tSEK 1.2tSEK 111.3b24.7x19.5x1.8x
Sun, 18 Jun 2023SEK 2.2tSEK 1.1tSEK 106.2b24.1x21.1x2x
Tue, 16 May 2023SEK 2.2tSEK 1.1tSEK 106.1b23.5x20.4x1.9x
Thu, 13 Apr 2023SEK 2.1tSEK 1.1tSEK 97.3b22.8x21.4x1.9x
Price to Earnings Ratio

21.4x


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 25.3x 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 Market3.68%
Industrials3.97%
Machinery3.77%
Industrial Machinery4.09%
Construction Machinery and Vehicles3.22%
Agricultural Machinery0.70%
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 10.3%, 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 24.9x.
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 10% 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 366.406.0%
+SEK 26.0b		108.2%PE31.3x
ATCO A Atlas CopcoSEK 166.353.3%
+SEK 25.8b		21.2%PE30.7x
VOLV B AB VolvoSEK 308.602.8%
+SEK 17.1b		31.9%PE18.2x
EPI A EpirocSEK 232.304.4%
+SEK 11.7b		31.3%PE32.7x
ALFA Alfa LavalSEK 513.602.1%
+SEK 4.3b		34.9%PE25.7x

Latest News

VOLV B
SEK 308.60
AB Volvo
7D
2.8%
1Y
31.9%

VOLV B: Prolonged Truck Weakness Will Likely Pressure Future Earnings Expectations

Analysts have adjusted the AB Volvo fair value estimate to SEK 262 from SEK 250, reflecting updated assumptions for slightly higher revenue growth, modestly stronger profit margins, a small change in discount rate, and an updated future P/E multiple, along with a mixed set of recent price target moves and rating changes across major banks. Analyst Commentary Recent Street research around AB Volvo reflects a split view, with several firms lifting price targets and others turning more cautious.
TREL B
SEK 349.60
Trelleborg
7D
2.0%
1Y
8.4%

TREL B: Future View Will Center On Conviction List Portfolio Shift

Analysts have nudged their fair value estimate for Trelleborg down by about SEK 3 to SEK 405.9, reflecting slightly higher discount rate assumptions and recent SEK 10 target trims at Citi and JPMorgan, even as some research highlights the company’s push towards structural growth areas. Analyst Commentary Recent research has focused on how Trelleborg is repositioning its portfolio, while also fine tuning valuation assumptions through a series of price target updates.
ALFA
SEK 513.60
Alfa Laval
7D
2.1%
1Y
34.9%

ALFA: Fair Outlook Balances Tanker Demand Opportunities With Execution And Pricing Risks

Alfa Laval's analyst fair value estimate has moved from SEK 479.33 to SEK 518.13. Analysts attribute this change to higher price targets from JPMorgan, Deutsche Bank and Morgan Stanley, along with updated assumptions for revenue growth, profit margin and future P/E as key drivers of this shift.
ENGCON B
SEK 66.00
engcon
7D
7.0%
1Y
-24.1%
SINT
SEK 93.00
SinterCast
7D
-1.3%
1Y
-6.3%
AGES B
SEK 47.20
AGES Industri
7D
-1.3%
1Y
-22.1%
EPI A
SEK 232.30
Epiroc
7D
4.4%
1Y
31.3%
OPTI
SEK 2.19
OptiCept Technologies
7D
-4.2%
1Y
-44.9%
SAND
SEK 366.40
Sandvik
7D
6.0%
1Y
108.2%

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 166.35
Atlas Copco
7D
3.3%
1Y
21.2%
SKF B
SEK 223.60
AB SKF
7D
2.6%
1Y
35.1%

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.
CNCJO B
SEK 46.40
Concejo
7D
-0.2%
1Y
42.4%
GARPCO B
SEK 256.00
Garpco Aktiebolag
7D
-5.2%
1Y
11.3%
BIOEX
SEK 2.69
Bioextrax
7D
-4.6%
1Y
3.9%
IMPC
SEK 1.23
Impact Coatings
7D
-8.9%
1Y
-63.7%
ENRAD
SEK 9.70
Enrad
7D
-1.0%
1Y
7.8%

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