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Swedish (OMX) Market Analysis & Valuation

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies782
  • 7D-1.1%
  • 3M1.7%
  • 1Y10.5%
  • YTD2.5%

Over the last 7 days, the market has dropped 1.1%, driven by a loss of 1.3% in the Financials sector. In the last year, the market is actually up 11%. Earnings are forecast to grow by 8.7% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026SEK 12.1tSEK 5.8tSEK 692.6b20x17.5x2.1x
Mon, 04 May 2026SEK 11.9tSEK 5.8tSEK 703.5b20.7x16.9x2.1x
Wed, 01 Apr 2026SEK 11.5tSEK 5.8tSEK 647.7b19.9x17.7x2x
Fri, 27 Feb 2026SEK 12.5tSEK 5.8tSEK 651.0b21.4x19.2x2.2x
Sun, 25 Jan 2026SEK 12.2tSEK 5.9tSEK 639.4b22.3x19x2.1x
Tue, 23 Dec 2025SEK 11.6tSEK 5.8tSEK 547.3b21.8x21.3x2x
Thu, 20 Nov 2025SEK 11.1tSEK 5.8tSEK 545.2b21.9x20.4x1.9x
Sat, 18 Oct 2025SEK 11.3tSEK 5.8tSEK 538.8b23.1x20.9x1.9x
Mon, 15 Sep 2025SEK 11.1tSEK 5.8tSEK 480.2b22.9x23x1.9x
Wed, 13 Aug 2025SEK 11.0tSEK 5.7tSEK 471.2b23.4x23.4x1.9x
Fri, 11 Jul 2025SEK 11.3tSEK 5.8tSEK 506.2b23.7x22.3x1.9x
Sun, 08 Jun 2025SEK 10.9tSEK 5.8tSEK 496.3b23x22.1x1.9x
Tue, 06 May 2025SEK 10.7tSEK 5.8tSEK 462.5b22.1x23.2x1.8x
Thu, 03 Apr 2025SEK 10.8tSEK 5.9tSEK 544.3b21.3x19.8x1.8x
Sat, 01 Mar 2025SEK 11.7tSEK 5.9tSEK 547.3b22.9x21.4x2x
Mon, 27 Jan 2025SEK 11.4tSEK 5.9tSEK 502.8b23.4x22.8x1.9x
Wed, 25 Dec 2024SEK 10.7tSEK 6.0tSEK 588.0b22.9x18.2x1.8x
Fri, 22 Nov 2024SEK 10.6tSEK 6.0tSEK 586.7b22x18x1.8x
Sun, 20 Oct 2024SEK 11.2tSEK 6.0tSEK 559.9b23.7x20.1x1.9x
Tue, 17 Sep 2024SEK 11.6tSEK 6.1tSEK 554.3b23.5x20.8x1.9x
Thu, 15 Aug 2024SEK 11.3tSEK 6.1tSEK 549.2b22.9x20.5x1.8x
Sat, 13 Jul 2024SEK 11.8tSEK 6.1tSEK 507.9b23.9x23.3x2x
Mon, 10 Jun 2024SEK 11.6tSEK 6.0tSEK 512.2b23.3x22.6x1.9x
Wed, 08 May 2024SEK 11.4tSEK 6.1tSEK 564.8b22.9x20.2x1.9x
Fri, 05 Apr 2024SEK 11.3tSEK 6.0tSEK 517.5b21.7x21.9x1.9x
Sun, 03 Mar 2024SEK 11.0tSEK 6.0tSEK 514.6b21.3x21.4x1.8x
Tue, 30 Jan 2024SEK 10.4tSEK 6.0tSEK 477.3b21.7x21.8x1.7x
Thu, 28 Dec 2023SEK 10.6tSEK 6.0tSEK 440.2b22x24x1.8x
Sat, 25 Nov 2023SEK 9.7tSEK 6.0tSEK 445.7b19.5x21.9x1.6x
Mon, 23 Oct 2023SEK 8.9tSEK 6.0tSEK 444.7b17x19.9x1.5x
Wed, 20 Sep 2023SEK 9.3tSEK 6.0tSEK 489.4b18x19.1x1.6x
Fri, 18 Aug 2023SEK 9.3tSEK 5.9tSEK 488.7b19x19.1x1.6x
Sun, 16 Jul 2023SEK 9.7tSEK 5.7tSEK 383.8b18.9x25.2x1.7x
Tue, 13 Jun 2023SEK 10.1tSEK 5.7tSEK 411.5b19.3x24.5x1.8x
Price to Earnings Ratio

24.5x


Total Market Cap: SEK 10.1tTotal Earnings: SEK 411.5bTotal Revenue: SEK 5.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 21x202420252026
Current Market PE
  • Investors are pessimistic on the Swedish market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 17.5x which is lower than its 3-year average PE of 21.0x.
Past Earnings Growth
  • The earnings for Swedish listed companies have grown 19% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Swedish Market?

SE Market-1.09%
Energy0.59%
Tech0.21%
Healthcare-0.57%
Industrials-0.63%
Materials-0.80%
Utilities-0.96%
Consumer Staples-1.26%
Financials-1.27%
Consumer Discretionary-1.52%
Telecom-2.31%
Real Estate-5.21%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 24.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.7% which is higher than its past year's earnings decline of 15.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 104% over the next 5 years.
  • This is better than its past earnings decline of 46% per year.
  • In contrast, the Financials sector is expected to see its earnings decline by 7.1% 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
ATCO A Atlas CopcoSEK 179.251.0%
+SEK 8.8b		13.6%PE33.5xIndustrials
ALFA Alfa LavalSEK 539.403.9%
+SEK 8.3b		30.2%PE27.3xIndustrials
SAVE NordnetSEK 341.005.6%
+SEK 4.5b		36.5%PE27.2xFinancials
SAND SandvikSEK 379.800.9%
+SEK 4.1b		77.6%PE32.1xIndustrials
HM B H & M Hennes & MauritzSEK 166.301.3%
+SEK 3.4b		21.0%PE21.6xConsumer Discretionary
See more

Market Insights

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Latest News

SECT B
SEK 293.00
Sectra
7D
5.3%
1Y
-17.4%
SIVE
SEK 78.80
Sivers Semiconductors
7D
14.3%
1Y
1,645.7%
SAAB B
SEK 528.40
Saab
7D
-7.2%
1Y
3.3%
BOL
SEK 545.40
Boliden
7D
-5.3%
1Y
76.1%
Narrative Update • Jun 05

BOL: Mixed Rating Shifts And Mine Developments Will Shape Balanced Risk Reward

The analyst fair value estimate for Boliden has moved from SEK 612.94 to SEK 551.18. This reflects a blend of reduced revenue growth and profit margin assumptions, a higher discount rate, and mixed Street price target revisions that include both upgrades and cuts around the SEK 550 to SEK 650 range.
VOLV B
SEK 321.50
AB Volvo
7D
-1.2%
1Y
22.2%
EQT
SEK 294.10
EQT
7D
-7.9%
1Y
4.8%
Narrative Update • Jun 03

EQT: Future Upside Will Rely On Executing Scaleup And Infrastructure Fundraising

Analysts have trimmed their SEK price target for EQT as updated models reflect a lower fair value estimate of SEK 415.33, with expectations for higher revenue growth and slightly stronger profit margins partly offset by a reduced future P/E assumption. What's in the News EQT has been chosen by the European Commission and founding investors as preferred investment adviser and fund manager for the €5b Scaleup Europe Fund, targeting technology scaleups across AI, quantum, clean energy, biotech, digital, industrial systems and life sciences.
ERIC B
SEK 121.00
Telefonaktiebolaget LM Ericsson
7D
0.7%
1Y
46.0%
Narrative Update • Jun 03

ERIC B: Future Defence And Maritime Alliances May Mask Execution Risk

Analysts have lifted their blended price target for Telefonaktiebolaget LM Ericsson to reflect a fair value shift from about SEK 92 to roughly SEK 99, citing recent target increases at several firms and updated views on earnings power, profitability and valuation multiples. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson shows a mix of higher price targets, one small reduction, and rating changes in both directions, which together help explain the modest lift in the blended fair value estimate.
ASSA B
SEK 326.80
ASSA ABLOY
7D
-1.8%
1Y
4.9%
Narrative Update • Jun 03

ASSA B: Canadian Expansion And Mixed Research Views Will Shape Rich Multiple Risks

The analyst price target for ASSA ABLOY has been revised from SEK 304.64 to SEK 340.00. Analysts point to updated assumptions on revenue growth, profit margins, and future P/E multiples, along with a mix of recent upgrades and a price target cut in recent Street research, to support the new view.
ALFA
SEK 539.40
Alfa Laval
7D
3.9%
1Y
30.2%
Narrative Update • Jun 03

ALFA: Fair Outlook Weighs Tanker Order Upside Against Execution And Pricing Risks

Narrative Update on Alfa Laval The updated analyst price target for Alfa Laval rises from about SEK 518 to SEK 547. This reflects adjustments to fair value and underlying assumptions such as revenue growth, profit margin and discount rate, as analysts balance recent target trims and downgrades with several target increases and an upgrade to Equal Weight.
SAND
SEK 379.80
Sandvik
7D
0.9%
1Y
77.6%
Narrative Update • Jun 02

SAND: Higher P/E Assumptions Will Test Mining Cycle Delivery Timing

Sandvik's updated fair value estimate has moved from SEK 226.86 to SEK 268.47. Analysts point to a series of recent price target adjustments and mixed rating changes that reflect revised assumptions for growth, margins and future P/E expectations.
HM B
SEK 166.30
H & M Hennes & Mauritz
7D
1.3%
1Y
21.0%
Narrative Update • May 30

HM B: Future Margin Discipline May Support Re Rating Despite Lower Street Expectations

H & M Hennes & Mauritz’s analyst price targets have generally shifted lower, with cuts such as SEK 5 at Deutsche Bank, SEK 9 at Citi and larger reductions at JPMorgan and Morgan Stanley, as analysts reassess the stock’s outlook despite relatively stable modeled fair value and profitability assumptions. Analyst Commentary Recent research has generally pointed to a more cautious stance on H & M Hennes & Mauritz, with several price targets adjusted lower and ratings such as Hold and Underweight reiterated.
SAVE
SEK 341.00
Nordnet
7D
5.6%
1Y
36.5%
SWED A
SEK 336.10
Swedbank
7D
-1.6%
1Y
32.8%
Narrative Update • May 21

SWED A: Future Returns Will Balance Higher Payouts With Tighter Repricing Range

Swedbank's fair value estimate has been nudged higher by about SEK 1 to SEK 340, as analysts factor in recent mixed price target moves from Citi and Morgan Stanley, along with modest adjustments to discount rate, growth and profit margin assumptions. Analyst Commentary Recent research on Swedbank shows a mix of cautious and more optimistic views, with several price target tweaks clustered in a relatively tight SEK range and a couple of rating upgrades.
ATCO A
SEK 179.25
Atlas Copco
7D
1.0%
1Y
13.6%
VSURE
€10.98
Verisure
7D
-3.9%
1Y
n/a
INDU A
SEK 510.50
AB Industrivärden
7D
-2.8%
1Y
46.1%