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Swedish (OMX) Materials Sector Analysis

UpdatedAug 12, 2026
DataAggregated Company Financials
Companies38
  • 7D0.8%
  • 3M8.8%
  • 1Y25.3%
  • YTD5.5%

Over the last 7 days, the Materials industry has remained flat, although notably Boliden gained 5.2%. The past year has been better, since the industry has gained 25% in that time. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Aug 2026SEK 493.6bSEK 369.1bSEK 26.8b18.3x18.4x1.3x
Sat, 11 Jul 2026SEK 455.6bSEK 361.1bSEK 24.9b20.6x18.3x1.3x
Mon, 08 Jun 2026SEK 469.5bSEK 361.2bSEK 24.8b21x18.9x1.3x
Wed, 06 May 2026SEK 439.8bSEK 361.3bSEK 25.0b17.6x17.6x1.2x
Fri, 03 Apr 2026SEK 436.8bSEK 356.8bSEK 24.2b16.7x18.1x1.2x
Sun, 01 Mar 2026SEK 524.6bSEK 356.4bSEK 24.2b17.9x21.7x1.5x
Tue, 27 Jan 2026SEK 500.9bSEK 358.6bSEK 24.0b18x20.9x1.4x
Thu, 25 Dec 2025SEK 448.9bSEK 358.6bSEK 24.0b16.7x18.7x1.3x
Sat, 22 Nov 2025SEK 413.3bSEK 358.6bSEK 23.9b16.6x17.3x1.2x
Mon, 20 Oct 2025SEK 407.9bSEK 361.4bSEK 24.7b14.4x16.5x1.1x
Wed, 17 Sep 2025SEK 392.6bSEK 366.1bSEK 25.1b13.9x15.6x1.1x
Fri, 15 Aug 2025SEK 389.5bSEK 366.0bSEK 25.1b15x15.5x1.1x
Sun, 13 Jul 2025SEK 402.5bSEK 370.9bSEK 29.6b14.5x13.6x1.1x
Tue, 10 Jun 2025SEK 401.7bSEK 370.1bSEK 29.6b14.2x13.6x1.1x
Thu, 08 May 2025SEK 393.9bSEK 369.6bSEK 29.7b13.8x13.3x1.1x
Sat, 05 Apr 2025SEK 383.3bSEK 365.0bSEK 29.7b15.6x12.9x1.1x
Mon, 03 Mar 2025SEK 458.4bSEK 365.0bSEK 29.7b19.1x15.4x1.3x
Wed, 29 Jan 2025SEK 427.3bSEK 356.0bSEK 28.3b18.5x15.1x1.2x
Fri, 27 Dec 2024SEK 394.6bSEK 356.0bSEK 28.4b14.9x13.9x1.1x
Sun, 24 Nov 2024SEK 409.0bSEK 356.0bSEK 28.3b15.6x14.4x1.1x
Tue, 22 Oct 2024SEK 411.6bSEK 357.6bSEK 29.8b13.6x13.8x1.2x
Thu, 19 Sep 2024SEK 407.4bSEK 357.5bSEK 29.8b14x13.7x1.1x
Sat, 17 Aug 2024SEK 407.5bSEK 357.3bSEK 29.7b13.9x13.7x1.1x
Mon, 15 Jul 2024SEK 453.3bSEK 355.3bSEK 27.3b15.6x16.6x1.3x
Wed, 12 Jun 2024SEK 444.7bSEK 355.2bSEK 27.3b16.2x16.3x1.3x
Fri, 10 May 2024SEK 460.5bSEK 355.3bSEK 27.3b16.4x16.8x1.3x
Sun, 07 Apr 2024SEK 460.1bSEK 365.5bSEK 32.2b14.6x14.3x1.3x
Tue, 05 Mar 2024SEK 424.2bSEK 364.6bSEK 32.0b13x13.3x1.2x
Thu, 01 Feb 2024SEK 432.8bSEK 377.2bSEK 1.1b14.8x391.1x1.1x
Sat, 30 Dec 2023SEK 455.4bSEK 380.6bSEK 3.0b14.1x153.1x1.2x
Mon, 27 Nov 2023SEK 447.0bSEK 380.6bSEK 3.0b12.9x149.2x1.2x
Wed, 25 Oct 2023SEK 389.6bSEK 386.5bSEK 6.4b12.3x60.9x1x
Fri, 22 Sep 2023SEK 420.4bSEK 386.9bSEK 7.8b13.1x53.9x1.1x
Sun, 20 Aug 2023SEK 396.7bSEK 386.7bSEK 7.8b12.6x51.2x1x
Price to Earnings Ratio

51.2x


Total Market Cap: SEK 396.7bTotal Earnings: SEK 7.8bTotal Revenue: SEK 386.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Materials Sector Price to Earnings3Y Average 31.7x202420252026
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 18.4x which is lower than its 3-year average PE of 31.7x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have grown 51% 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 Materials sector?

SE Market-0.94%
Materials0.81%
Metals and Mining2.25%
Packaging-0.84%
Chemicals-0.92%
Paper and Forestry Products-1.85%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 23.0x.
    • Analysts are expecting annual earnings growth of 11.0%, which is higher than its past year's earnings decline of 22.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Packaging industry, expecting annual earnings growth of 87% over the next 5 years.
  • In contrast, the Chemicals industry is expected to see its earnings grow by 11% 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 539.005.2%
+SEK 7.6b		68.6%PE12.1x
VISC Gruvaktiebolaget ViscariaSEK 19.666.3%
+SEK 334.5m		27.3%PS20x
BILL BillerudSEK 77.601.4%
+SEK 273.6m		-11.2%PS0.5x
SOSI Sotkamo SilverSEK 4.8814.0%
+SEK 204.3m		445.3%PE21.2x
GRNG GrängesSEK 187.800.6%
+SEK 117.2m		36.6%PE16.6x

Latest News

BOL
SEK 539.00
Boliden
7D
5.2%
1Y
68.6%
GRNG
SEK 187.80
Gränges
7D
0.6%
1Y
36.6%
SOSI
SEK 4.88
Sotkamo Silver
7D
14.0%
1Y
445.3%
SCA B
SEK 109.40
Svenska Cellulosa Aktiebolaget
7D
-0.2%
1Y
-15.1%
Narrative Update • Aug 10

SCA B: Sector Oversupply And Weak Pricing Power Will Constrain Returns

The fair value estimate for Svenska Cellulosa Aktiebolaget has moved from SEK 92.0 to SEK 96.0 as analysts factor in updated price targets between SEK 100 and SEK 110, a lower discount rate, and slightly stronger margin assumptions, despite softer revenue growth expectations. Analyst Commentary Recent Street research on Svenska Cellulosa Aktiebolaget shows a mix of restraint and caution, even as the fair value estimate edges higher.
DRIL
SEK 3.80
Drillcon
7D
-4.0%
1Y
0.5%
RROS
SEK 2.42
Rottneros
7D
11.3%
1Y
-16.3%
ALLEI
SEK 115.30
Alleima
7D
-4.3%
1Y
65.5%
Narrative Update • Jul 31

ALLEI: New Nuclear Expansion Will Not Sustain Current Market Optimism

Analysts have raised their fair value estimate for Alleima from SEK 67 to SEK 75. At the same time, at least one firm has changed its rating to Hold with a SEK 100 price target, citing updated assumptions on revenue growth, profit margins and future P/E expectations.
SSAB A
SEK 104.00
SSAB
7D
-0.3%
1Y
82.5%
Narrative Update • Jul 29

SSAB A: Future Returns Will Depend On Low Carbon Projects And Earnings Delivery

The analyst price target for SSAB has been raised from SEK 83.14 to SEK 106.57, with analysts attributing the revised fair value to higher assumed revenue growth, stronger profit margins and a slightly richer future P/E multiple. Analyst Commentary Recent research on SSAB points to a mixed but generally constructive tone on the stock, with several price target revisions that frame how analysts view the balance between upside potential and execution risk.
BILL
SEK 77.60
Billerud
7D
1.4%
1Y
-11.2%
HPOL B
SEK 90.10
HEXPOL
7D
-0.4%
1Y
7.6%
Analysis Article • Jul 23

HEXPOL AB (publ) (STO:HPOL B) Just Reported And Analysts Have Been Lifting Their Price Targets

HEXPOL AB (publ) ( STO:HPOL B ) defied analyst predictions to release its second-quarter results, which were ahead of...
HOLM B
SEK 323.20
Holmen
7D
-1.2%
1Y
-14.7%
Narrative Update • Jul 17

HOLM B: Future Returns Will Balance Softer Outlook With Capital Return Actions

Holmen's analyst fair value estimate edges down from SEK 300 to SEK 285, reflecting recent cuts to Street price targets as analysts factor in weaker revenue expectations, modestly lower profit margins, and a higher future P/E assumption. Analyst Commentary Recent research updates on Holmen point to a more cautious stance, with multiple price target reductions signaling that some analysts see a less favorable risk and reward balance at current levels.
LCLEAN
SEK 0.023
LifeClean International
7D
-24.0%
1Y
-80.9%
VISC
SEK 19.66
Gruvaktiebolaget Viscaria
7D
6.3%
1Y
27.3%
ITECH
SEK 70.40
I-Tech
7D
7.3%
1Y
-39.8%
Narrative Update • Jun 12

ITECH: Extended EU Approval And Strong Margins Will Support Future Upside

Analysts have reduced their price target on I-Tech from SEK 112.0 to SEK 108.5 after incorporating updated assumptions for revenue growth, profit margins, discount rate, and future P/E into their models. What's in the News The European Commission and the Standing Committee on Biocidal Products extended EU approval for I-Tech's antifouling biocide Selektope (medetomidine) for use in antifouling coatings (product-type 21) until 31 December 2026, citing delays in the ongoing assessment for reasons outside the company’s control.
GRANGX
SEK 45.60
Grangex
7D
8.4%
1Y
14.0%
AXIC A
SEK 2.98
aXichem
7D
-3.2%
1Y
24.7%