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Swedish (OMX) Materials Sector Analysis

UpdatedNov 25, 2025
DataAggregated Company Financials
Companies38
  • 7D5.1%
  • 3M10.7%
  • 1Y5.2%
  • YTD6.6%

The Materials industry is up 5.1% in the last week, with Boliden up 10%. During this same period, the Gruvaktiebolaget Viscaria underperformed, falling 14%. This means that the industry has gained 5.2% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

Has the Swedish Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 29 Nov 2025SEK 419.6bSEK 358.6bSEK 23.9b16.9x17.5x1.2x
Mon, 27 Oct 2025SEK 424.3bSEK 358.8bSEK 24.1b18.5x17.6x1.2x
Wed, 24 Sep 2025SEK 395.9bSEK 366.1bSEK 25.1b13.8x15.8x1.1x
Fri, 22 Aug 2025SEK 394.0bSEK 366.1bSEK 25.1b15.1x15.7x1.1x
Sun, 20 Jul 2025SEK 385.7bSEK 368.9bSEK 25.9b15x14.9x1x
Tue, 17 Jun 2025SEK 392.3bSEK 370.1bSEK 29.6b13.6x13.2x1.1x
Thu, 15 May 2025SEK 413.3bSEK 370.0bSEK 29.7b14.5x13.9x1.1x
Sat, 12 Apr 2025SEK 376.6bSEK 365.0bSEK 29.7b14.3x12.7x1x
Mon, 10 Mar 2025SEK 461.4bSEK 366.0bSEK 29.7b18.5x15.5x1.3x
Wed, 05 Feb 2025SEK 434.8bSEK 357.8bSEK 27.9b16.5x15.6x1.2x
Fri, 03 Jan 2025SEK 406.0bSEK 356.0bSEK 28.4b15.2x14.3x1.1x
Sun, 01 Dec 2024SEK 409.8bSEK 356.0bSEK 28.3b15.3x14.5x1.2x
Tue, 29 Oct 2024SEK 418.6bSEK 355.8bSEK 28.3b15.3x14.8x1.2x
Thu, 26 Sep 2024SEK 421.4bSEK 357.5bSEK 29.8b14.1x14.2x1.2x
Sat, 24 Aug 2024SEK 411.5bSEK 357.4bSEK 29.6b14x13.9x1.2x
Mon, 22 Jul 2024SEK 435.7bSEK 359.9bSEK 31.4b14.5x13.9x1.2x
Wed, 19 Jun 2024SEK 440.4bSEK 355.2bSEK 27.3b15.7x16.1x1.2x
Fri, 17 May 2024SEK 468.8bSEK 355.3bSEK 27.3b16.5x17.1x1.3x
Sun, 14 Apr 2024SEK 461.0bSEK 365.5bSEK 32.2b15.3x14.3x1.3x
Tue, 12 Mar 2024SEK 426.2bSEK 365.4bSEK 32.0b13.1x13.3x1.2x
Thu, 08 Feb 2024SEK 423.5bSEK 368.7bSEK 32.7b15.2x13x1.1x
Sat, 06 Jan 2024SEK 450.5bSEK 380.6bSEK 3.0b14.7x151.7x1.2x
Mon, 04 Dec 2023SEK 456.9bSEK 380.6bSEK 3.0b14x152.9x1.2x
Wed, 01 Nov 2023SEK 425.6bSEK 380.8bSEK 2.9b14.5x148.8x1.1x
Fri, 29 Sep 2023SEK 417.8bSEK 386.9bSEK 7.8b13x53.5x1.1x
Sun, 27 Aug 2023SEK 401.6bSEK 386.7bSEK 7.8b12.8x51.2x1x
Tue, 25 Jul 2023SEK 399.5bSEK 387.3bSEK 8.7b11.5x46.1x1x
Thu, 22 Jun 2023SEK 427.9bSEK 397.1bSEK 19.1b10.9x22.5x1.1x
Sat, 20 May 2023SEK 445.1bSEK 397.0bSEK 19.1b11.6x23.3x1.1x
Mon, 17 Apr 2023SEK 465.5bSEK 392.0bSEK 23.6b9.9x19.7x1.2x
Wed, 15 Mar 2023SEK 468.8bSEK 392.3bSEK 23.8b10.9x19.7x1.2x
Fri, 10 Feb 2023SEK 485.6bSEK 386.6bSEK 23.8b9.3x20.4x1.3x
Sun, 08 Jan 2023SEK 452.1bSEK 372.6bSEK 59.1b8.3x7.6x1.2x
Tue, 06 Dec 2022SEK 456.6bSEK 372.6bSEK 59.1b8.6x7.7x1.2x
Price to Earnings Ratio

7.7x


Total Market Cap: SEK 456.6bTotal Earnings: SEK 59.1bTotal Revenue: SEK 372.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Materials Sector Price to Earnings3Y Average 32.1x202320242025
Current Industry PE
  • Investors are pessimistic on the Swedish Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 17.5x which is lower than its 3-year average PE of 32.1x.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 26% 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 Trends

Which industries have driven the changes within the Swedish Materials sector?

SE Market3.27%
Materials5.09%
Metals and Mining8.24%
Packaging4.59%
Chemicals2.47%
Paper and Forestry Products0.91%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 20.4x.
    • Analysts are expecting annual earnings growth of 5.8%, which is higher than its past year's earnings decline of 1.6% per year.
  • Investors are most pessimistic about the Metals and Mining industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Packaging industry, expecting annual earnings growth of 40% over the next 5 years.
  • However this is lower than its past earnings growth rate of 99% per year.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings grow by 5.8% 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
BOL BolidenSEK 451.8010.2%
+SEK 11.8b		38.8%PE15.9x
SSAB A SSABSEK 67.868.4%
+SEK 5.2b		35.2%PE13.7x
SCA B Svenska Cellulosa AktiebolagetSEK 122.651.6%
+SEK 1.3b		-13.4%PE24.3x
HPOL B HEXPOLSEK 86.354.4%
+SEK 1.3b		-18.3%PE15.2x
BILL BillerudSEK 93.354.6%
+SEK 1.0b		-2.4%PE19.1x

Latest News

VISC
SEK 12.80
Gruvaktiebolaget Viscaria
7D
-13.9%
1Y
-44.5%
ITECH
SEK 54.00
I-Tech
7D
-15.9%
1Y
8.9%
KBC
SEK 38.05
KB Components
7D
-11.2%
1Y
n/a
HPOL B
SEK 86.35
HEXPOL
7D
4.4%
1Y
-18.3%

HPOL B: Further Investments Will Accelerate Progress Toward 75% CO2 Reduction

Analysts have reaffirmed their fair value estimate for HEXPOL at SEK 98.75. They cited only minor adjustments to cost of capital and margin assumptions as underlying factors in the updated outlook.
SCA B
SEK 122.65
Svenska Cellulosa Aktiebolaget
7D
1.6%
1Y
-13.4%

SCA B: Neutral Ratings And Resilient Performance Will Anchor Market Expectations

The analyst price target for Svenska Cellulosa has been reduced by SEK 1 to SEK 134, as analysts point to slightly softer forecasts for revenue growth while maintaining a broadly neutral outlook on the shares. Analyst Commentary Recent research updates reflect mixed views from the analyst community regarding Svenska Cellulosa Aktiebolaget’s prospects.
NEXAM
SEK 2.80
Nexam Chemical Holding
7D
-4.1%
1Y
-29.8%
SSAB A
SEK 67.86
SSAB
7D
8.4%
1Y
35.2%

SSAB A: Future Results Will Depend On Execution Amid Mixed Market Signals

The analyst consensus price target for SSAB has decreased slightly from SEK 69.88 to SEK 69.65. Analysts point to modest shifts in profit margin expectations and a higher discount rate as the factors driving the adjustment.
BOL
SEK 451.80
Boliden
7D
10.2%
1Y
38.8%

BOL: Recent Mining Approvals And Share Repurchase Will Influence Future Performance

Narrative Update on Boliden Boliden's analyst price target has increased from SEK 404.73 to SEK 412.07. This change reflects growing optimism among analysts, who cite improved revenue growth and profit margin forecasts.
ALLEI
SEK 81.90
Alleima
7D
3.1%
1Y
7.1%

ALLEI: Discount Rate Adjustment Will Support Long-Term Confidence In Fair Value

Analysts have made a slight downward adjustment to Alleima's price target, now valuing shares at SEK 89.67. This revision is due to small changes in the discount rate and profit margin projections.
POLYG
SEK 9.80
Polygiene Group
7D
-4.4%
1Y
-22.2%
BILL
SEK 93.35
Billerud
7D
4.6%
1Y
-2.4%

We Think Billerud (STO:BILL) Is Taking Some Risk With Its Debt

Nov 19
We Think Billerud (STO:BILL) Is Taking Some Risk With Its Debt
HOLM B
SEK 345.60
Holmen
7D
-0.2%
1Y
-15.9%

These 4 Measures Indicate That Holmen (STO:HOLM B) Is Using Debt Reasonably Well

Nov 19
These 4 Measures Indicate That Holmen (STO:HOLM B) Is Using Debt Reasonably Well
GRNG
SEK 138.00
Gränges
7D
3.5%
1Y
11.0%
GRANGX
SEK 46.20
Grangex
7D
9.9%
1Y
367.1%
ARCT
SEK 4.82
Arctic Minerals
7D
-2.0%
1Y
80.5%
BLUE
SEK 0.95
Bluelake Mineral
7D
-6.5%
1Y
6.4%