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Swedish (OMX) HR Services Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies7
  • 7D-5.3%
  • 3M-18.9%
  • 1Y-45.1%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 6.4%, driven by a pullback from BTS Group of 8.6%. Meanwhile, Veteranpoolen actually outperformed within the industry, gaining 9.5% in the last week. However, the industry is down 46% over the past year. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

Has the Swedish HR Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026SEK 5.0bSEK 22.3bSEK 257.1m16.9x19.3x0.2x
Tue, 06 Jan 2026SEK 5.6bSEK 22.3bSEK 257.1m17.3x21.6x0.2x
Thu, 04 Dec 2025SEK 5.3bSEK 22.3bSEK 255.1m16.1x20.9x0.2x
Sat, 01 Nov 2025SEK 6.3bSEK 20.3bSEK 392.6m18.2x15.9x0.3x
Mon, 29 Sep 2025SEK 6.2bSEK 20.5bSEK 402.6m17.9x15.4x0.3x
Wed, 27 Aug 2025SEK 6.7bSEK 20.2bSEK 418.8m16.7x16x0.3x
Fri, 25 Jul 2025SEK 6.9bSEK 20.3bSEK 424.8m15.8x16.2x0.3x
Sun, 22 Jun 2025SEK 7.7bSEK 21.5bSEK 472.0m15.1x16.2x0.4x
Tue, 20 May 2025SEK 8.1bSEK 21.5bSEK 473.8m16.5x17.1x0.4x
Thu, 17 Apr 2025SEK 8.5bSEK 22.2bSEK 532.3m13.2x16x0.4x
Sat, 15 Mar 2025SEK 9.1bSEK 22.2bSEK 532.6m14.2x17.1x0.4x
Mon, 10 Feb 2025SEK 9.7bSEK 22.8bSEK 569.7m12.7x16.9x0.4x
Wed, 08 Jan 2025SEK 9.6bSEK 22.8bSEK 569.7m12.6x16.9x0.4x
Fri, 06 Dec 2024SEK 9.1bSEK 22.8bSEK 569.7m12.7x16x0.4x
Sun, 03 Nov 2024SEK 9.8bSEK 22.8bSEK 429.6m17.4x22.9x0.4x
Tue, 01 Oct 2024SEK 9.7bSEK 23.2bSEK 425.6m17.8x22.8x0.4x
Thu, 29 Aug 2024SEK 9.6bSEK 23.1bSEK 415.0m19x23.1x0.4x
Sat, 27 Jul 2024SEK 10.1bSEK 23.2bSEK 424.1m19.5x23.9x0.4x
Mon, 24 Jun 2024SEK 10.2bSEK 23.4bSEK 421.3m20.1x24.2x0.4x
Wed, 22 May 2024SEK 10.9bSEK 23.3bSEK 418.4m19x26.1x0.5x
Fri, 19 Apr 2024SEK 10.5bSEK 23.8bSEK 392.2m17.8x26.7x0.4x
Sun, 17 Mar 2024SEK 10.6bSEK 23.8bSEK 392.2m17.4x27.1x0.4x
Tue, 13 Feb 2024SEK 10.2bSEK 23.9bSEK 366.5m17.2x27.8x0.4x
Thu, 11 Jan 2024SEK 9.9bSEK 23.9bSEK 374.9m17x26.4x0.4x
Sat, 09 Dec 2023SEK 8.8bSEK 23.9bSEK 374.9m15.7x23.6x0.4x
Mon, 06 Nov 2023SEK 8.4bSEK 23.9bSEK 413.1m15.1x20.4x0.4x
Wed, 04 Oct 2023SEK 8.7bSEK 23.8bSEK 426.2m13.5x20.5x0.4x
Fri, 01 Sep 2023SEK 9.3bSEK 23.8bSEK 426.2m14.6x21.9x0.4x
Sun, 30 Jul 2023SEK 8.9bSEK 23.7bSEK 455.1m16.1x19.5x0.4x
Tue, 27 Jun 2023SEK 9.5bSEK 23.3bSEK 470.0m16.1x20.1x0.4x
Thu, 25 May 2023SEK 9.3bSEK 23.3bSEK 468.1m17.9x19.8x0.4x
Sat, 22 Apr 2023SEK 10.6bSEK 22.6bSEK 507.3m21.2x21x0.5x
Mon, 20 Mar 2023SEK 10.6bSEK 22.6bSEK 506.6m17.8x20.9x0.5x
Wed, 15 Feb 2023SEK 11.5bSEK 22.4bSEK 567.2m14.3x20.3x0.5x
Price to Earnings Ratio

20.3x


Total Market Cap: SEK 11.5bTotal Earnings: SEK 567.2mTotal Revenue: SEK 22.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish HR Services Industry Price to Earnings3Y Average 20.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Swedish Human Resource and Employment Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 20.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.39x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have declined 23% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Swedish HR Services compare with similar industries?

SE Market2.14%
Industrials3.67%
Professional Services-3.42%
HR Services-5.33%
Research and Consulting Services-2.96%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VPAB B VeteranpoolenSEK 44.909.5%
+SEK 78.1m		29.8%PE19.6x
OGUN B OgunsenSEK 31.301.6%
+SEK 5.4m		6.5%PE27.7x
PION B PION GroupSEK 5.561.8%
+SEK 4.8m		-11.7%PS0.2x
FRILAN Invoicery GroupSEK 6.101.7%
+SEK 2.9m		23.0%PE16.9x

Latest News

BTS B
SEK 116.60
BTS Group
7D
-8.6%
1Y
-58.7%

BTS B: Earnings Setback Will Support Future Upside As Guidance Tightens

Analysts have trimmed their fair value estimate for BTS Group from ฿172.50 to ฿166.50, citing updated assumptions around a slightly higher discount rate, more moderate revenue growth, and a small adjustment to forward P/E and profit margin expectations. What's in the News BTS Group lowered its earnings guidance for fiscal 2025/26, with full year revenue guidance adjusted from THB 6b to THB 5.5b, reflecting softer macroeconomic conditions and more conservative assumptions for advertising and retail spending (company guidance).
PION B
SEK 5.56
PION Group
7D
1.8%
1Y
-11.7%
CALVIK
SEK 43.40
Calviks
7D
-3.3%
1Y
118.1%
VPAB B
SEK 44.90
Veteranpoolen
7D
9.5%
1Y
29.8%
FRILAN
SEK 6.10
Invoicery Group
7D
1.7%
1Y
23.0%
WISE
SEK 12.55
Wise Group
7D
-6.3%
1Y
-24.4%

Revenues Not Telling The Story For Wise Group AB (publ) (STO:WISE) After Shares Rise 28%

Dec 25
Revenues Not Telling The Story For Wise Group AB (publ) (STO:WISE) After Shares Rise 28%
OGUN B
SEK 31.30
Ogunsen
7D
1.6%
1Y
6.5%

Ogunsen's (STO:OGUN B) Conservative Accounting Might Explain Soft Earnings

Nov 22
Ogunsen's (STO:OGUN B) Conservative Accounting Might Explain Soft Earnings
EWRK
SEK 91.40
Ework Group
7D
-3.9%
1Y
-38.2%