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Swedish (OMX) Market Analysis & Valuation

UpdatedNov 18, 2025
DataAggregated Company Financials
Companies801
  • 7D-4.1%
  • 3M-1.6%
  • 1Y2.1%
  • YTD0.3%

Over the last 7 days, the market has dropped 4.1%, driven by a loss of 4.6% in the Industrials sector. In the last 12 months the market has been flat overall. Earnings are forecast to grow by 13% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

Has the Swedish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 19 Nov 2025SEK 11.3tSEK 5.8tSEK 544.4b22.3x20.8x2x
Fri, 17 Oct 2025SEK 11.4tSEK 5.8tSEK 491.1b23.2x23.3x2x
Sun, 14 Sep 2025SEK 11.1tSEK 5.8tSEK 480.2b22.9x23x1.9x
Tue, 12 Aug 2025SEK 11.0tSEK 5.7tSEK 471.3b23.4x23.3x1.9x
Thu, 10 Jul 2025SEK 11.1tSEK 5.8tSEK 505.9b23.7x21.9x1.9x
Sat, 07 Jun 2025SEK 10.9tSEK 5.8tSEK 496.4b23x22.1x1.9x
Mon, 05 May 2025SEK 10.7tSEK 5.8tSEK 462.2b21.9x23.3x1.8x
Wed, 02 Apr 2025SEK 10.9tSEK 5.9tSEK 547.0b21.5x19.9x1.8x
Fri, 28 Feb 2025SEK 11.7tSEK 5.9tSEK 545.8b23x21.5x2x
Sun, 26 Jan 2025SEK 11.4tSEK 5.9tSEK 502.8b23.4x22.8x1.9x
Tue, 24 Dec 2024SEK 10.7tSEK 6.0tSEK 587.9b22.9x18.2x1.8x
Thu, 21 Nov 2024SEK 10.6tSEK 6.0tSEK 587.0b22x18x1.8x
Sat, 19 Oct 2024SEK 11.2tSEK 6.0tSEK 559.9b23.7x20.1x1.9x
Mon, 16 Sep 2024SEK 11.6tSEK 6.1tSEK 554.2b23.4x20.8x1.9x
Wed, 14 Aug 2024SEK 11.2tSEK 6.1tSEK 549.2b22.7x20.4x1.8x
Fri, 12 Jul 2024SEK 11.6tSEK 6.0tSEK 507.5b23.5x22.8x1.9x
Sun, 09 Jun 2024SEK 11.6tSEK 6.0tSEK 512.2b23.3x22.6x1.9x
Tue, 07 May 2024SEK 11.3tSEK 6.1tSEK 564.6b23x19.9x1.9x
Thu, 04 Apr 2024SEK 11.3tSEK 6.0tSEK 517.4b22x21.8x1.9x
Sat, 02 Mar 2024SEK 11.0tSEK 6.0tSEK 513.5b21.8x21.4x1.8x
Mon, 29 Jan 2024SEK 10.4tSEK 6.0tSEK 478.2b21.3x21.8x1.7x
Wed, 27 Dec 2023SEK 10.5tSEK 6.0tSEK 440.3b21.9x23.9x1.7x
Fri, 24 Nov 2023SEK 9.7tSEK 6.0tSEK 445.4b19.3x21.8x1.6x
Sun, 22 Oct 2023SEK 8.9tSEK 6.0tSEK 446.0b17x19.9x1.5x
Tue, 19 Sep 2023SEK 9.4tSEK 6.0tSEK 489.4b18.1x19.2x1.6x
Thu, 17 Aug 2023SEK 9.5tSEK 5.9tSEK 488.7b19.3x19.4x1.6x
Sat, 15 Jul 2023SEK 9.7tSEK 5.7tSEK 383.1b18.8x25.2x1.7x
Mon, 12 Jun 2023SEK 10.1tSEK 5.7tSEK 411.6b19.3x24.6x1.8x
Wed, 10 May 2023SEK 9.9tSEK 5.6tSEK 408.1b19.8x24.3x1.8x
Fri, 07 Apr 2023SEK 8.8tSEK 5.3tSEK 423.5b19.3x20.8x1.7x
Sun, 05 Mar 2023SEK 9.3tSEK 5.3tSEK 403.1b19.4x23x1.7x
Tue, 31 Jan 2023SEK 9.1tSEK 5.2tSEK 474.0b17.4x19.1x1.8x
Thu, 29 Dec 2022SEK 9.1tSEK 5.1tSEK 511.4b15.7x17.9x1.8x
Sat, 26 Nov 2022SEK 9.4tSEK 5.1tSEK 510.5b16.5x18.5x1.9x
Price to Earnings Ratio

18.5x


Total Market Cap: SEK 9.4tTotal Earnings: SEK 510.5bTotal Revenue: SEK 5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21.3x202320242025
Current Market PE
  • Investors are relatively neutral on the Swedish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 21.3x.
Past Earnings Growth
  • The earnings for Swedish listed companies have grown 2.2% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Swedish Market?

SE Market-4.13%
Real Estate0.084%
Utilities-0.61%
Healthcare-2.56%
Consumer Staples-3.02%
Materials-3.83%
Financials-4.06%
Telecom-4.10%
Industrials-4.59%
Consumer Discretionary-4.75%
Tech-5.86%
Energy-14.06%
Sector PE
  • Investors favour the Healthcare sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.0% which is higher than its past year's earnings decline of 3.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 3.9% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 3.1% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
NOBA NOBA Bank GroupSEK 100.143.3%
+SEK 1.6b		n/aPB2xFinancials
BALD B Fastighets AB BalderSEK 68.081.8%
+SEK 1.5b		-16.0%PE8.7xReal Estate
BIOA B BioArcticSEK 280.205.8%
+SEK 1.3b		55.9%PE24.8xHealthcare
SSAB A SSABSEK 61.841.9%
+SEK 1.2b		21.2%PE12.5xMaterials
SAGA A AB SagaxSEK 201.001.3%
+SEK 1.2b		-16.3%PE28.8xReal Estate
See more

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NOBA
SEK 100.14
NOBA Bank Group
7D
3.3%
1Y
n/a
BIOA B
SEK 280.20
BioArctic
7D
5.8%
1Y
55.9%

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Nov 16
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HEXA B
SEK 108.60
Hexagon
7D
-8.2%
1Y
16.7%

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Nov 16
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SAND
SEK 277.10
Sandvik
7D
-5.1%
1Y
36.9%

SAND: Continued Execution Will Determine Fair Value Stability Amid Sector Shifts

Sandvik's analyst price target has increased modestly to SEK 282.56, as analysts cite a series of upward revisions from major institutions. This reflects continued optimism around the company's growth prospects.
EQT
SEK 317.50
EQT
7D
-6.3%
1Y
8.8%

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Nov 14
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ATCO A
SEK 150.35
Atlas Copco
7D
-5.8%
1Y
-13.1%
MTRS
SEK 157.20
Munters Group
7D
2.9%
1Y
-8.4%
ASSA B
SEK 343.20
ASSA ABLOY
7D
-4.3%
1Y
5.6%

ASSA B: Recovery Signs In U S Construction Will Drive Balanced Outlook

ASSA ABLOY's analyst price target has increased modestly, rising from SEK 366.06 to SEK 375.44 as analysts cite signs of end market recovery and ongoing confidence in the company’s growth outlook. Analyst Commentary Recent analyst activity reflects cautious optimism toward ASSA ABLOY's outlook, with several price target increases and an upgrade in rating tied to perceived improvements in key end markets and ongoing operational execution.
BALD B
SEK 68.08
Fastighets AB Balder
7D
1.8%
1Y
-16.0%

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Nov 05
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SEB A
SEK 176.80
Skandinaviska Enskilda Banken
7D
-4.1%
1Y
18.0%

SEB A: Revenue And Profit Margin Improvements Will Support Fair Valuation

Analysts have modestly raised their price target for Skandinaviska Enskilda Banken, increasing it from SEK 180.71 to SEK 181.43. The adjustment is attributed to improved revenue growth forecasts and stronger profit margins.
INVE A
SEK 306.60
Investor
7D
-3.9%
1Y
4.0%
EPI A
SEK 189.00
Epiroc
7D
-5.8%
1Y
-3.6%

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Nov 01
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SAGA A
SEK 201.00
AB Sagax
7D
1.3%
1Y
-16.3%

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Nov 01
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VOLO
SEK 112.60
Volati
7D
6.8%
1Y
26.5%
SSAB A
SEK 61.84
SSAB
7D
1.9%
1Y
21.2%
INTEA B
SEK 69.00
Intea Fastigheter
7D
5.3%
1Y
n/a