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Swedish (OMX) Market Analysis & Valuation

UpdatedAug 04, 2026
DataAggregated Company Financials
Companies779
  • 7D1.5%
  • 3M2.5%
  • 1Y14.0%
  • YTD6.5%

The market is up 1.5% over the last week, with the Financials sector leading the way, up 2.5%. As for the past 12 months, the market is up 14%. Looking forward, earnings are forecast to grow by 7.1% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 04 Aug 2026SEK 12.7tSEK 6.0tSEK 813.7b19.4x15.6x2.1x
Thu, 02 Jul 2026SEK 12.3tSEK 5.8tSEK 693.6b20.3x17.7x2.1x
Sat, 30 May 2026SEK 12.2tSEK 5.8tSEK 690.9b20.7x17.7x2.1x
Mon, 27 Apr 2026SEK 12.1tSEK 5.8tSEK 704.4b20.3x17.2x2.1x
Wed, 25 Mar 2026SEK 11.3tSEK 5.8tSEK 647.8b19.1x17.5x1.9x
Fri, 20 Feb 2026SEK 12.3tSEK 5.8tSEK 650.9b21.5x18.9x2.1x
Sun, 18 Jan 2026SEK 12.3tSEK 5.8tSEK 547.0b22.5x22.5x2.1x
Tue, 16 Dec 2025SEK 11.6tSEK 5.8tSEK 547.0b21.8x21.2x2x
Thu, 13 Nov 2025SEK 11.6tSEK 5.8tSEK 544.5b22.1x21.4x2x
Sat, 11 Oct 2025SEK 11.2tSEK 5.8tSEK 484.6b22.7x23.2x1.9x
Mon, 08 Sep 2025SEK 11.0tSEK 5.8tSEK 480.2b23.2x22.9x1.9x
Wed, 06 Aug 2025SEK 10.9tSEK 5.7tSEK 471.6b23.2x23.1x1.9x
Fri, 04 Jul 2025SEK 11.1tSEK 5.8tSEK 497.1b23.2x22.3x1.9x
Sun, 01 Jun 2025SEK 10.8tSEK 5.8tSEK 495.5b22.5x21.8x1.9x
Tue, 29 Apr 2025SEK 10.5tSEK 5.8tSEK 468.8b21.4x22.5x1.8x
Thu, 27 Mar 2025SEK 11.1tSEK 5.9tSEK 547.4b21.7x20.3x1.9x
Sat, 22 Feb 2025SEK 11.7tSEK 5.9tSEK 532.7b23.3x22x2x
Mon, 20 Jan 2025SEK 11.2tSEK 6.0tSEK 588.5b23.1x19x1.9x
Wed, 18 Dec 2024SEK 10.9tSEK 6.0tSEK 587.9b23x18.6x1.8x
Fri, 15 Nov 2024SEK 10.9tSEK 6.0tSEK 587.3b22.4x18.5x1.8x
Sun, 13 Oct 2024SEK 11.3tSEK 5.9tSEK 496.4b23.8x22.7x1.9x
Tue, 10 Sep 2024SEK 11.4tSEK 6.1tSEK 553.9b23.5x20.6x1.9x
Thu, 08 Aug 2024SEK 11.1tSEK 6.1tSEK 543.4b22.5x20.4x1.8x
Sat, 06 Jul 2024SEK 11.5tSEK 6.1tSEK 513.7b23x22.3x1.9x
Mon, 03 Jun 2024SEK 11.6tSEK 6.0tSEK 512.2b23.3x22.6x1.9x
Wed, 01 May 2024SEK 11.2tSEK 6.1tSEK 560.5b22.2x20x1.8x
Fri, 29 Mar 2024SEK 11.3tSEK 6.0tSEK 516.3b21.6x21.9x1.9x
Sun, 25 Feb 2024SEK 10.9tSEK 6.0tSEK 485.2b21x22.4x1.8x
Tue, 23 Jan 2024SEK 10.2tSEK 6.1tSEK 452.8b21.3x22.5x1.7x
Thu, 21 Dec 2023SEK 10.5tSEK 6.0tSEK 440.9b21.8x23.9x1.7x
Sat, 18 Nov 2023SEK 9.6tSEK 6.0tSEK 443.6b19.6x21.7x1.6x
Mon, 16 Oct 2023SEK 9.3tSEK 6.0tSEK 492.7b17.5x18.9x1.6x
Wed, 13 Sep 2023SEK 9.3tSEK 6.0tSEK 489.4b18x19.1x1.6x
Fri, 11 Aug 2023SEK 9.7tSEK 5.9tSEK 488.6b19.7x19.9x1.6x
Price to Earnings Ratio

19.9x


Total Market Cap: SEK 9.7tTotal Earnings: SEK 488.6bTotal Revenue: SEK 5.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 20.6x202420252026
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 15.6x which is lower than its 3-year average PE of 20.6x.
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 Market1.55%
Energy4.91%
Tech3.75%
Financials2.48%
Consumer Discretionary1.54%
Industrials1.39%
Materials1.26%
Real Estate1.03%
Utilities0.96%
Consumer Staples-0.41%
Telecom-1.26%
Healthcare-1.53%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 31.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 13.9% which is higher than its past year's earnings decline of 28.1% 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 12% 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 203.103.3%
+SEK 31.7b		39.3%PE37.2xIndustrials
INVE A InvestorSEK 409.402.5%
+SEK 30.9b		44.3%PE4.8xFinancials
HEXA B HexagonSEK 95.8812.1%
+SEK 27.8b		-10.1%PE11xTech
SWED A SwedbankSEK 383.903.0%
+SEK 12.6b		46.9%PB2.1xFinancials
SEB A Skandinaviska Enskilda BankenSEK 225.302.7%
+SEK 11.5b		31.4%PB1.9xFinancials
See more

Market Insights

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Latest News

SOBI
SEK 436.00
Swedish Orphan Biovitrum
7D
-6.6%
1Y
58.5%
TELIA
SEK 44.35
Telia Company
7D
-2.8%
1Y
26.0%
SECU B
SEK 155.60
Securitas
7D
-2.0%
1Y
5.6%
Analysis Article • Aug 01

We Think Securitas' (STO:SECU B) Solid Earnings Are Understated

The market seemed underwhelmed by the solid earnings posted by Securitas AB (publ) ( STO:SECU B ) recently. Our...
SWED A
SEK 383.90
Swedbank
7D
3.0%
1Y
46.9%
VSURE
€10.52
Verisure
7D
-5.7%
1Y
n/a
VOLV B
SEK 369.40
AB Volvo
7D
1.3%
1Y
35.4%
HEXA B
SEK 95.88
Hexagon
7D
12.1%
1Y
-10.1%
ESSITY B
SEK 276.00
Essity
7D
-1.6%
1Y
13.6%
Narrative Update • Jul 29

ESSITY B: Cost Pressures And Tissue Review Will Shape Future Returns

Essity's analyst price target has shifted from SEK 265.07 to SEK 271.60. Analysts point to updated fair value estimates and revised assumptions around revenue growth, profit margins and future P/E as key drivers behind the change.
BRAV
SEK 130.30
Bravida Holding
7D
-6.7%
1Y
42.8%
Narrative Update • Jul 23

BRAV: Fair Outlook Will Hinge On 106 Level And Share Buybacks

Analysts have lifted their fair value estimate for Bravida Holding to SEK 141.00, citing updated assumptions that reflect a SEK 6 increase in recent Street price targets, along with revised expectations for revenue growth, margins and future P/E. Analyst Commentary Recent Street research on Bravida Holding points to a cautious but engaged stance from analysts, with modest adjustments to fair value and price targets tied to updated views on revenue, margins and P/E assumptions.
SEB A
SEK 225.30
Skandinaviska Enskilda Banken
7D
2.7%
1Y
31.4%
Narrative Update • Jul 22

SEB A: Future Returns Will Reflect Execution And Disciplined Share Repurchases

The analyst fair value estimate for Skandinaviska Enskilda Banken has been raised from SEK 197.12 to SEK 205.35, with analysts pointing to a series of higher SEK 204 to SEK 230 price targets and slight adjustments to growth, margin and P/E assumptions as key drivers. Analyst Commentary Recent Street research on Skandinaviska Enskilda Banken shows a mix of higher and lower price targets within a relatively tight SEK 170 to SEK 230 range.
ATCO A
SEK 203.10
Atlas Copco
7D
3.3%
1Y
39.3%
Narrative Update • Jul 22

ATCO A: Capex Upcycle Exposure Will Support Higher Future Earnings Power

The analyst fair value estimate for Atlas Copco has shifted from SEK 220.0 to SEK 250.0 as analysts point to higher assumed revenue growth, slightly stronger profit margins, a modestly higher future P/E, and broad support from recent Street price target increases. Analyst Commentary Recent Street research on Atlas Copco has turned more constructive, with several high profile firms lifting price targets and, in one case, upgrading the stock rating.
SAND
SEK 357.00
Sandvik
7D
2.5%
1Y
51.7%
Narrative Update • Jul 21

SAND: Mining Contract Wins And Q2 Execution Will Drive Further Upside

For Sandvik, the analyst fair value estimate has been raised from SEK 383.95 to SEK 394.15. This reflects updated views on valuation after recent price target revisions and rating changes across the Street research.
EVO
SEK 729.20
Evolution
7D
-2.6%
1Y
-15.7%
Narrative Update • Jul 20

EVO: Share Repurchases And Margin Discipline Will Drive Future Repricing Potential

The analyst price target for Evolution has been adjusted higher to SEK 1,004 from SEK 953, reflecting updated assumptions around slightly lower revenue growth, a higher profit margin, a modestly lower P/E multiple and discount rate, and a mix of recent Street research where several firms have raised SEK-based targets while others have made small downward revisions and kept more cautious ratings. Analyst Commentary Recent Street research on Evolution highlights a mix of views, but the pattern of higher SEK based targets from several bullish analysts points to ongoing interest in the stock's earnings power and execution, even as some peers remain more cautious.
INVE A
SEK 409.40
Investor
7D
2.5%
1Y
44.3%
SECT B
SEK 268.00
Sectra
7D
-3.9%
1Y
-24.1%
Analysis Article • Jul 16

We Think Sectra's (STO:SECT B) Healthy Earnings Might Be Conservative

Sectra AB (publ)'s ( STO:SECT B ) recent earnings report didn't offer any surprises, with the shares unchanged over the...
HM B
SEK 178.05
H & M Hennes & Mauritz
7D
3.6%
1Y
36.6%