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Swedish (OMX) Materials Sector Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies36
  • 7D-4.3%
  • 3M-1.0%
  • 1Y1.6%
  • YTD-4.6%

Over the last 7 days, the Materials industry has dropped 6.3%, driven by a pullback from Boliden of 8.1%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026SEK 446.4bSEK 356.9bSEK 24.2b17.4x18.5x1.3x
Fri, 20 Feb 2026SEK 498.6bSEK 356.4bSEK 24.3b17.9x20.5x1.4x
Sun, 18 Jan 2026SEK 483.6bSEK 358.6bSEK 24.0b18x20.1x1.3x
Tue, 16 Dec 2025SEK 444.2bSEK 358.6bSEK 24.0b16.3x18.5x1.2x
Thu, 13 Nov 2025SEK 429.4bSEK 358.5bSEK 23.9b18.5x17.9x1.2x
Sat, 11 Oct 2025SEK 405.0bSEK 361.4bSEK 24.7b14.2x16.4x1.1x
Mon, 08 Sep 2025SEK 392.8bSEK 366.1bSEK 25.1b14.2x15.6x1.1x
Wed, 06 Aug 2025SEK 382.9bSEK 366.3bSEK 25.4b14.6x15.1x1x
Fri, 04 Jul 2025SEK 398.5bSEK 370.1bSEK 29.7b14.1x13.4x1.1x
Sun, 01 Jun 2025SEK 400.7bSEK 370.1bSEK 29.6b14.1x13.5x1.1x
Tue, 29 Apr 2025SEK 397.1bSEK 370.3bSEK 31.0b13.8x12.8x1.1x
Thu, 27 Mar 2025SEK 430.2bSEK 364.9bSEK 29.7b17.9x14.5x1.2x
Sat, 22 Feb 2025SEK 461.7bSEK 362.3bSEK 29.4b18.3x15.7x1.3x
Mon, 20 Jan 2025SEK 419.5bSEK 356.0bSEK 28.4b15.8x14.8x1.2x
Wed, 18 Dec 2024SEK 408.4bSEK 356.0bSEK 28.4b15.4x14.4x1.1x
Fri, 15 Nov 2024SEK 406.2bSEK 356.0bSEK 28.3b15.1x14.3x1.1x
Sun, 13 Oct 2024SEK 424.2bSEK 357.6bSEK 29.8b13.9x14.3x1.2x
Tue, 10 Sep 2024SEK 396.6bSEK 357.6bSEK 29.8b14.1x13.3x1.1x
Thu, 08 Aug 2024SEK 402.9bSEK 357.1bSEK 29.8b13.6x13.5x1.1x
Sat, 06 Jul 2024SEK 441.1bSEK 355.2bSEK 27.3b15.2x16.1x1.2x
Mon, 03 Jun 2024SEK 463.4bSEK 355.2bSEK 27.3b16.8x16.9x1.3x
Wed, 01 May 2024SEK 459.5bSEK 355.5bSEK 27.4b15.7x16.8x1.3x
Fri, 29 Mar 2024SEK 460.3bSEK 365.4bSEK 32.2b13.4x14.3x1.3x
Sun, 25 Feb 2024SEK 423.4bSEK 365.7bSEK 31.6b13.2x13.4x1.2x
Tue, 23 Jan 2024SEK 419.2bSEK 380.6bSEK 3.0b13.3x141.4x1.1x
Thu, 21 Dec 2023SEK 458.6bSEK 380.6bSEK 3.0b14.4x154.3x1.2x
Sat, 18 Nov 2023SEK 448.4bSEK 380.8bSEK 2.9b14x154.5x1.2x
Mon, 16 Oct 2023SEK 427.2bSEK 386.6bSEK 7.7b12.4x55.2x1.1x
Wed, 13 Sep 2023SEK 409.2bSEK 386.9bSEK 7.8b13.1x52.4x1.1x
Fri, 11 Aug 2023SEK 407.0bSEK 387.1bSEK 8.5b11.6x47.9x1.1x
Sun, 09 Jul 2023SEK 429.8bSEK 397.1bSEK 19.1b11.1x22.6x1.1x
Tue, 06 Jun 2023SEK 454.0bSEK 397.1bSEK 19.1b12.1x23.8x1.1x
Thu, 04 May 2023SEK 449.4bSEK 397.2bSEK 19.3b11.2x23.3x1.1x
Sat, 01 Apr 2023SEK 467.4bSEK 392.4bSEK 23.6b11x19.8x1.2x
Price to Earnings Ratio

19.8x


Total Market Cap: SEK 467.4bTotal Earnings: SEK 23.6bTotal Revenue: SEK 392.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Materials Sector Price to Earnings3Y Average 32.7x202420252026
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 18.3x which is lower than its 3-year average PE of 32.7x.
  • 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 3.1% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

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

SE Market-4.12%
Materials-4.29%
Chemicals-0.94%
Packaging-2.59%
Paper and Forestry Products-4.39%
Metals and Mining-4.70%
Industry PE
  • Investors are most optimistic about the Packaging industry even though it's trading below its 3-year average PE ratio of 32.6x.
    • Analysts are expecting annual earnings growth of 29.3%, which is higher than its past year's earnings decline of 59.3% per year.
  • Investors are most pessimistic about the Chemicals industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
  • Analysts are most optimistic on the Packaging industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 59% per year.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings grow by 5.4% 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
SSAB A SSABSEK 70.463.9%
+SEK 2.6b		2.4%PE14.3x
PROF B ProfilGruppenSEK 96.606.2%
+SEK 41.4m		-18.8%PE8.2x
NEXAM Nexam Chemical HoldingSEK 3.1913.9%
+SEK 40.0m		-2.7%PS1.7x
AXIC A aXichemSEK 1.5515.7%
+SEK 25.7m		17.9%PS5.7x
RROS RottnerosSEK 2.372.4%
+SEK 14.7m		-64.1%PS0.2x

Latest News

SSAB A
SEK 70.46
SSAB
7D
3.9%
1Y
2.4%

SSAB A: Profitability Execution And Fossil Free Steel Deals Will Drive Upside

Analysts have lifted their average price target on SSAB by SEK 2, citing updated expectations for profitability, modestly higher revenue growth assumptions, and a lower future P/E multiple, even as some firms have recently shifted to more cautious ratings. Analyst Commentary Recent research on SSAB has been mixed, but there is a clearly supportive camp of bullish analysts who are willing to lift valuation targets even as some peers turn more cautious.
GRNG
SEK 141.50
Gränges
7D
-4.1%
1Y
8.6%
SCA B
SEK 106.90
Svenska Cellulosa Aktiebolaget
7D
-5.2%
1Y
-20.5%
BILL
SEK 71.45
Billerud
7D
-2.6%
1Y
-33.7%

BILL: Refined Margin Assumptions And Higher P/E Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Billerud from SEK 119.0 to SEK 107.0, reflecting updated assumptions around revenue growth, profit margins and a higher discount rate, alongside recent Street price target adjustments from Citi. Analyst Commentary Bullish analysts have recently adjusted their price targets for Billerud in both directions, which gives you a useful read on how sentiment is evolving as new information feeds into models for revenue, margins and risk.
BOL
SEK 571.60
Boliden
7D
-8.1%
1Y
59.0%

BOL: Future Ronnskar Restart And Gold Exposure Will Drive Re Rating

Boliden's analyst fair value estimate has been raised from SEK 550 to SEK 770. This reflects higher price targets across several firms as analysts factor in stronger revenue growth assumptions, adjusted profit expectations and slightly lower future P/E multiples, alongside recent target increases from banks such as Morgan Stanley, JPMorgan, Citi, Deutsche Bank, RBC Capital, Danske Bank, Kepler Cheuvreux and Barclays.
ALLEI
SEK 73.85
Alleima
7D
-2.4%
1Y
-15.4%

ALLEI: Downgrade And Dividend Plans Will Shape Balanced Near Term Outlook

Analysts have nudged their Alleima price target to SEK 75, reflecting a slightly lower discount rate and marginally adjusted long term assumptions, as some have turned more cautious on the shares following Danske Bank’s downgrade. Analyst Commentary Bullish Takeaways Bullish analysts view the SEK 75 target as consistent with a more balanced risk reward, suggesting the current valuation already reflects a degree of caution after the downgrade.
VISC
SEK 13.88
Gruvaktiebolaget Viscaria
7D
-12.5%
1Y
-34.5%
HOLM B
SEK 328.80
Holmen
7D
-3.2%
1Y
-18.1%
RROS
SEK 2.37
Rottneros
7D
2.4%
1Y
-64.1%
GRANGX
SEK 58.40
Grangex
7D
-13.6%
1Y
533.4%
PROF B
SEK 96.60
ProfilGruppen
7D
6.2%
1Y
-18.8%
BAT
SEK 0.15
Eurobattery Minerals
7D
5.0%
1Y
286.8%
AXIC A
SEK 1.55
aXichem
7D
15.7%
1Y
17.9%
ARCT
SEK 6.10
Arctic Minerals
7D
3.4%
1Y
74.3%
DRIL
SEK 4.41
Drillcon
7D
5.0%
1Y
-19.5%
NEXAM
SEK 3.19
Nexam Chemical Holding
7D
13.9%
1Y
-2.7%