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Swedish (OMX) HR Services Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies7
  • 7D2.6%
  • 3M-10.8%
  • 1Y-32.5%
  • YTDn/a

The HR Services is pretty flat in the last 7 days, but Veteranpoolen has stood out, gaining 9.5%. Unfortunately though, the industry is down 34% over the past 12 months. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025SEK 5.6bSEK 22.3bSEK 257.1m17.4x21.9x0.3x
Fri, 21 Nov 2025SEK 5.1bSEK 20.2bSEK 240.9m20.3x21x0.3x
Sun, 19 Oct 2025SEK 6.3bSEK 20.5bSEK 402.6m17.8x15.7x0.3x
Tue, 16 Sep 2025SEK 6.4bSEK 20.5bSEK 402.6m17.9x15.9x0.3x
Thu, 14 Aug 2025SEK 6.4bSEK 20.3bSEK 424.8m15.8x15x0.3x
Sat, 12 Jul 2025SEK 7.3bSEK 20.9bSEK 426.1m15.6x17.2x0.4x
Mon, 09 Jun 2025SEK 7.8bSEK 21.5bSEK 475.4m15.9x16.4x0.4x
Wed, 07 May 2025SEK 8.9bSEK 22.2bSEK 533.0m12.9x16.7x0.4x
Fri, 04 Apr 2025SEK 9.0bSEK 22.2bSEK 532.6m14x16.9x0.4x
Sun, 02 Mar 2025SEK 9.7bSEK 22.4bSEK 552.6m14.9x17.5x0.4x
Tue, 28 Jan 2025SEK 9.5bSEK 22.8bSEK 569.7m12.4x16.6x0.4x
Thu, 26 Dec 2024SEK 9.0bSEK 22.8bSEK 569.7m12.3x15.7x0.4x
Sat, 23 Nov 2024SEK 9.1bSEK 22.7bSEK 566.4m14.2x16.1x0.4x
Mon, 21 Oct 2024SEK 9.6bSEK 23.2bSEK 425.6m17.1x22.7x0.4x
Wed, 18 Sep 2024SEK 9.5bSEK 23.2bSEK 425.6m17.8x22.4x0.4x
Fri, 16 Aug 2024SEK 9.5bSEK 23.1bSEK 411.5m18.6x23x0.4x
Sun, 14 Jul 2024SEK 10.1bSEK 23.4bSEK 421.3m19.8x24x0.4x
Tue, 11 Jun 2024SEK 10.3bSEK 23.4bSEK 421.3m20.1x24.4x0.4x
Thu, 09 May 2024SEK 10.5bSEK 23.4bSEK 429.3m18.2x24.4x0.4x
Sat, 06 Apr 2024SEK 10.7bSEK 23.8bSEK 392.2m17.8x27.4x0.5x
Mon, 04 Mar 2024SEK 10.8bSEK 23.8bSEK 392.2m17.7x27.6x0.5x
Wed, 31 Jan 2024SEK 10.0bSEK 23.9bSEK 374.9m16x26.7x0.4x
Fri, 29 Dec 2023SEK 9.9bSEK 23.9bSEK 374.9m16.4x26.4x0.4x
Sun, 26 Nov 2023SEK 8.4bSEK 23.9bSEK 375.0m16.1x22.4x0.4x
Tue, 24 Oct 2023SEK 8.5bSEK 23.8bSEK 426.2m14x20x0.4x
Thu, 21 Sep 2023SEK 9.3bSEK 23.8bSEK 426.2m13.9x21.8x0.4x
Sat, 19 Aug 2023SEK 9.0bSEK 23.8bSEK 457.7m14.6x19.6x0.4x
Mon, 17 Jul 2023SEK 9.6bSEK 23.3bSEK 470.0m15.9x20.4x0.4x
Wed, 14 Jun 2023SEK 9.2bSEK 23.3bSEK 470.0m17.2x19.5x0.4x
Fri, 12 May 2023SEK 10.1bSEK 23.3bSEK 481.8m17.4x20.9x0.4x
Sun, 09 Apr 2023SEK 10.5bSEK 22.6bSEK 506.6m18.5x20.8x0.5x
Tue, 07 Mar 2023SEK 11.6bSEK 22.6bSEK 506.6m19.1x22.9x0.5x
Thu, 02 Feb 2023SEK 10.9bSEK 21.6bSEK 558.5m16.4x19.5x0.5x
Sat, 31 Dec 2022SEK 9.6bSEK 21.6bSEK 558.5m14.4x17.1x0.4x
Price to Earnings Ratio

17.1x


Total Market Cap: SEK 9.6bTotal Earnings: SEK 558.5mTotal Revenue: SEK 21.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish HR Services Industry Price to Earnings3Y Average 20.4x202320242025
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 20.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.40x.
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 Market1.17%
Industrials0.65%
Professional Services-1.39%
HR Services2.62%
Research and Consulting Services-2.39%
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
BTS B BTS GroupSEK 145.402.3%
+SEK 62.1m		-42.5%PE17.4x
EWRK Ework GroupSEK 98.402.1%
+SEK 34.6m		-29.4%PE15.8x
OGUN B OgunsenSEK 32.059.9%
+SEK 31.2m		4.2%PE28.4x
WISE Wise GroupSEK 15.9030.3%
+SEK 27.3m		-10.7%PS0.2x

Latest News

WISE
SEK 15.90
Wise Group
7D
30.3%
1Y
-10.7%
BTS B
SEK 145.40
BTS Group
7D
2.3%
1Y
-42.5%

BTS B: Lower Discount Rate Will Drive Future Upside Potential

Narrative Update Analysts have modestly lowered their price target on BTS Group by SEK 0.00 to reflect slightly reduced discount rate and future P/E assumptions, while revenue growth and margin expectations remain effectively unchanged. What's in the News BTS Group revised its full year 2025/26 revenue guidance down from THB 6 billion to THB 5.5 billion, citing a softer macroeconomy and weaker expectations for advertising and retail spending (company guidance).
CALVIK
SEK 44.00
Calviks
7D
5.5%
1Y
109.5%

We Think You Should Be Aware Of Some Concerning Factors In Calviks' (STO:CALVIK) Earnings

Nov 28
We Think You Should Be Aware Of Some Concerning Factors In Calviks' (STO:CALVIK) Earnings
OGUN B
SEK 32.05
Ogunsen
7D
9.9%
1Y
4.2%

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

Nov 22
Ogunsen's (STO:OGUN B) Conservative Accounting Might Explain Soft Earnings
FRILAN
SEK 5.10
Invoicery Group
7D
-1.9%
1Y
2.0%
PION B
SEK 5.22
PION Group
7D
-7.8%
1Y
-13.6%

PION Group AB (publ)'s (STO:PION B) Share Price Could Signal Some Risk

Nov 14
PION Group AB (publ)'s (STO:PION B) Share Price Could Signal Some Risk
EWRK
SEK 98.40
Ework Group
7D
2.1%
1Y
-29.4%
NJOB
SEK 0.86
NetJobs Group
7D
2.4%
1Y
92.8%
VPAB B
SEK 44.90
Veteranpoolen
7D
9.5%
1Y
29.8%