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Swedish (OMX) Machinery Industry Analysis

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies38
  • 7D3.6%
  • 3M12.7%
  • 1Y29.5%
  • YTD17.0%

The Machinery industry has gained 4.1% in the last week and AB Volvo up 4.4%. In the same time, SaltX Technology Holding was down 14%. This means that the industry has gained 30% over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

Has the Swedish Machinery Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Jul 2026SEK 3.1tSEK 1.1tSEK 104.8b27.2x29.2x2.7x
Thu, 04 Jun 2026SEK 2.9tSEK 1.1tSEK 104.8b25.9x27.9x2.6x
Sat, 02 May 2026SEK 2.8tSEK 1.1tSEK 104.7b25.3x27.2x2.5x
Mon, 30 Mar 2026SEK 2.6tSEK 1.2tSEK 106.7b22.9x24.4x2.3x
Wed, 25 Feb 2026SEK 3.1tSEK 1.2tSEK 106.7b25.3x28.6x2.7x
Fri, 23 Jan 2026SEK 2.8tSEK 1.2tSEK 109.9b25.2x25.7x2.4x
Sun, 21 Dec 2025SEK 2.6tSEK 1.2tSEK 109.9b24.3x23.4x2.2x
Tue, 18 Nov 2025SEK 2.4tSEK 1.2tSEK 109.9b23.9x22x2.1x
Thu, 16 Oct 2025SEK 2.5tSEK 1.2tSEK 113.3b22.6x21.9x2.1x
Sat, 13 Sep 2025SEK 2.4tSEK 1.2tSEK 113.3b23.1x21.4x2.1x
Mon, 11 Aug 2025SEK 2.4tSEK 1.2tSEK 113.3b24.1x21x2x
Wed, 09 Jul 2025SEK 2.4tSEK 1.2tSEK 123.4b23.6x19.3x2x
Fri, 06 Jun 2025SEK 2.4tSEK 1.2tSEK 123.4b24.6x19.1x1.9x
Sun, 04 May 2025SEK 2.3tSEK 1.2tSEK 123.3b21.1x18.6x1.9x
Tue, 01 Apr 2025SEK 2.4tSEK 1.2tSEK 125.5b22.9x19.2x2x
Thu, 27 Feb 2025SEK 2.8tSEK 1.2tSEK 125.5b26.9x22x2.3x
Sat, 25 Jan 2025SEK 2.7tSEK 1.2tSEK 124.4b28.6x21.6x2.2x
Mon, 23 Dec 2024SEK 2.4tSEK 1.2tSEK 124.3b26.1x19.4x2x
Wed, 20 Nov 2024SEK 2.4tSEK 1.2tSEK 124.4b24.6x19.5x2x
Fri, 18 Oct 2024SEK 2.5tSEK 1.2tSEK 130.0b25.3x19.6x2x
Sun, 15 Sep 2024SEK 2.5tSEK 1.2tSEK 130.0b25.9x19x2x
Tue, 13 Aug 2024SEK 2.4tSEK 1.2tSEK 129.9b24.1x18.7x2x
Thu, 11 Jul 2024SEK 2.6tSEK 1.2tSEK 125.4b26.1x20.6x2.1x
Sat, 08 Jun 2024SEK 2.7tSEK 1.2tSEK 125.4b25.5x21.6x2.2x
Mon, 06 May 2024SEK 2.6tSEK 1.2tSEK 125.4b26.8x20.9x2.1x
Wed, 03 Apr 2024SEK 2.6tSEK 1.2tSEK 127.0b24.8x20.4x2.1x
Fri, 01 Mar 2024SEK 2.5tSEK 1.2tSEK 127.0b24.4x19.8x2x
Sun, 28 Jan 2024SEK 2.3tSEK 1.3tSEK 126.6b21.4x18.3x1.9x
Tue, 26 Dec 2023SEK 2.4tSEK 1.2tSEK 119.8b22.2x20.1x2x
Thu, 23 Nov 2023SEK 2.3tSEK 1.2tSEK 119.8b22.1x18.8x1.8x
Sat, 21 Oct 2023SEK 2.0tSEK 1.2tSEK 116.8b21.4x17.4x1.7x
Mon, 18 Sep 2023SEK 2.2tSEK 1.2tSEK 111.4b22.1x19.6x1.8x
Wed, 16 Aug 2023SEK 2.1tSEK 1.2tSEK 111.4b23.1x19.2x1.8x
Fri, 14 Jul 2023SEK 2.2tSEK 1.1tSEK 106.2b24.3x20.6x1.9x
Price to Earnings Ratio

20.6x


Total Market Cap: SEK 2.2tTotal Earnings: SEK 106.2bTotal Revenue: SEK 1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Machinery Industry Price to Earnings3Y Average 21.3x202420252026
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 29.3x which is higher than its 3-year average PE of 21.3x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Machinery industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

Which industries have driven the changes within the Swedish Industrials industry?

SE Market2.65%
Industrials3.85%
Machinery3.57%
Construction Machinery and Vehicles4.78%
Industrial Machinery3.02%
Agricultural Machinery-1.35%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 26.1x.
    • Analysts are expecting annual earnings growth of 11.8%, which is higher than its past year's earnings decline of 15.5% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 23.7x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 14% over the next 5 years.
  • This is better than its past earnings decline of 6.6% per year.
  • In contrast, the Agricultural 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
VOLV B AB VolvoSEK 342.405.8%
+SEK 38.4b		30.1%PE21.2x
SAND SandvikSEK 406.604.3%
+SEK 21.1b		83.3%PE34.4x
ATCO A Atlas CopcoSEK 194.751.6%
+SEK 15.4b		24.0%PE36.4x
SKF B AB SKFSEK 264.108.3%
+SEK 9.2b		22.8%PE32x
EPI A EpirocSEK 266.102.4%
+SEK 7.6b		26.0%PE37.8x

Latest News

TREL B
SEK 415.40
Trelleborg
7D
1.2%
1Y
14.2%
Narrative Update • Jul 03

TREL B: Future View Will Balance Expanded Buybacks And Recent Rating Upgrade

Trelleborg’s analyst price target has been raised from SEK 420.09 to SEK 428.73, as analysts point to updated assumptions around fair value, revenue growth, profit margin and future P/E following recent positive Street research, including an upgrade to Buy with a SEK 460 target. What’s in the News for Trelleborg Trelleborg has commenced a share repurchase program from April 27, 2026, authorized to buy back up to 12,718,000 class B shares, equal to 5.45% of its issued share capital, with total treasury holdings capped at 10% of issued share capital.
CI
SEK 0.072
Cell Impact
7D
-29.7%
1Y
-73.0%
EPI A
SEK 266.10
Epiroc
7D
2.4%
1Y
26.0%
INDT
SEK 209.60
Indutrade
7D
6.0%
1Y
-21.7%
Narrative Update • Jul 02

INDT: Upgraded Rating And Refined Assumptions Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Indutrade to SEK 248.13 per share. This reflects an updated mix of a lower assumed future P/E, a slightly higher discount rate, and revised revenue growth and margin expectations that underpin recent price target changes ranging from SEK 211 to SEK 229.
HUSQ B
SEK 36.96
Husqvarna
7D
-1.4%
1Y
-26.6%
Narrative Update • Jul 01

HUSQ B: Business Exit And SEB Upgrade Will Support Future Rerating

The analyst price target for Husqvarna has been adjusted from SEK 50.25 to SEK 46.20, with analysts citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, in line with recent research such as the upgrade from SEB Equities. What’s in the News for Husqvarna Husqvarna plans to discontinue its non core stone diamond tools business within the Construction Division, including shutting down manufacturing operations in Belgium, Portugal and Greece, as well as all related global service centers and sales activities, with a full withdrawal expected by the end of 2026.
ALFA
SEK 583.20
Alfa Laval
7D
3.1%
1Y
42.1%
Narrative Update • Jul 01

ALFA: Elevated P E Multiples Will Test Renewable Contract Execution Risks

The updated analyst price target for Alfa Laval now stands at SEK 420.61, compared with the prior SEK 430.00. This reflects a blend of recent target increases toward SEK 580 and reductions toward SEK 370 as analysts reassess assumptions on growth, margins and valuation multiples.
FREEM
SEK 1.95
Freemelt Holding
7D
-12.4%
1Y
-27.4%
Narrative Update • Jun 26

FREEM: Recent Order Momentum Will Mask Near-Term Earnings Risk

Analysts have raised their price target for Freemelt Holding from SEK 1.40 to SEK 1.60, citing updated assumptions related to discount rates, revenue growth, profit margins and future P/E expectations. What’s in the News for Freemelt Holding Freemelt Holding secured an order from TAE Technologies to conduct a feasibility study, starting with printing tungsten components as part of an engineering evaluation and manufacturing demonstration, with the aim of progressing towards industrial application of additive manufacturing.
SKF B
SEK 264.10
AB SKF
7D
8.3%
1Y
22.8%
Narrative Update • Jun 25

SKF B: Mixed Rating Shifts And AI Partnership Will Shape Balanced Outlook

The analyst price target for AB SKF has been raised by SEK 2 to reflect slightly higher fair value estimates, with analysts citing modestly adjusted assumptions for revenue, profit margins, and future P/E as key drivers of the change. Analyst Commentary Recent Street research on AB SKF shows a mix of optimism and caution, with several firms adjusting price targets and ratings as they reassess assumptions around earnings power, execution, and appropriate P/E levels.
VOLV B
SEK 342.40
AB Volvo
7D
5.8%
1Y
30.1%
Narrative Update • Jun 24

VOLV B: Autonomous And Hydrogen Truck Progress Will Support Stronger Long Term Earnings

The analyst price target for AB Volvo has been raised to SEK 395 from SEK 385. Analysts point to the company's perceived structural strength, highlighted at recent events, as a key support for the updated valuation assumptions.
ATCO A
SEK 194.75
Atlas Copco
7D
1.6%
1Y
24.0%
Narrative Update • Jun 24

ATCO A: Dividend Payouts And Split Ratings Will Shape Future Returns

The analyst price target for Atlas Copco has been lifted by analysts to SEK 199.33 from SEK 194.43, reflecting updated assumptions around revenue growth, profit margins, a slightly higher future P/E multiple, and recent mixed but generally supportive Street research on the stock. Analyst Commentary Recent Street research on Atlas Copco presents a mix of upbeat and cautious views, with several analysts adjusting price targets in both directions and a couple of rating upgrades.
SAND
SEK 406.60
Sandvik
7D
4.3%
1Y
83.3%
Analysis Article • Jun 20

Sandvik (OM:SAND) Stock Looks 5.9% Overvalued After Barminco Mining Order

Sandvik’s new Barminco order puts mining demand in focus Sandvik (OM:SAND) has secured a SEK 350 million equipment order from Australian mining contractor Barminco for the Bellevue Gold Project, including underground loaders, trucks, drill rigs, and ongoing tools and service support. See our latest analysis for Sandvik. Sandvik’s recent SEK 350 million Barminco contract comes as momentum in the stock has been strong, with a 90 day share price return of 21.73% and a 1 year total shareholder...
ENRAD
SEK 9.32
Enrad
7D
-5.7%
1Y
-14.9%
Analysis Article • Jun 20

Companies Like Enrad (NGM:ENRAD) Are In A Position To Invest In Growth

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
CCC
SEK 12.00
Cavotec Group
7D
-9.1%
1Y
n/a
ALIG
SEK 116.60
Alimak Group
7D
-1.2%
1Y
-22.6%
Narrative Update • Jun 17

ALIG: Stable Margins And Lower Risk Assumptions Will Support Future Upside Potential

Analysts have kept their SEK 143.0 price target for Alimak Group broadly in line with prior estimates, citing only small tweaks to inputs such as the discount rate, revenue growth assumptions, profit margin outlook and future P/E expectations. What’s in the News for Alimak Group No recent company specific news items for Alimak Group were identified in the provided sources.
OXE
SEK 0.28
OXE Marine
7D
-3.4%
1Y
-5.3%
SALT B
SEK 5.84
SaltX Technology Holding
7D
-13.5%
1Y
2.6%