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Swedish (OMX) Market Analysis & Valuation

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies784
  • 7D1.7%
  • 3M3.4%
  • 1Y14.1%
  • YTD3.0%

The market is up 1.7% over the last week, with the Industrials sector leading the way, up 2.7%. The market is up 14% over the last 12 months. As for the next few years, earnings are expected to grow by 8.6% per annum.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Jun 2026SEK 12.2tSEK 5.8tSEK 692.9b20.2x17.6x2.1x
Sat, 16 May 2026SEK 11.9tSEK 5.8tSEK 701.9b20.5x16.9x2x
Mon, 13 Apr 2026SEK 12.1tSEK 5.8tSEK 650.5b20.9x18.6x2.1x
Wed, 11 Mar 2026SEK 12.0tSEK 5.8tSEK 648.0b21x18.5x2.1x
Fri, 06 Feb 2026SEK 12.2tSEK 5.8tSEK 632.0b22x19.3x2.1x
Sun, 04 Jan 2026SEK 11.8tSEK 5.8tSEK 547.2b22.4x21.5x2x
Tue, 02 Dec 2025SEK 11.5tSEK 5.8tSEK 547.0b22.2x21x2x
Thu, 30 Oct 2025SEK 11.6tSEK 5.8tSEK 536.6b23.2x21.6x2x
Sat, 27 Sep 2025SEK 11.0tSEK 5.8tSEK 483.0b22.6x22.9x1.9x
Mon, 25 Aug 2025SEK 11.3tSEK 5.8tSEK 478.0b23.7x23.7x2x
Wed, 23 Jul 2025SEK 11.0tSEK 5.7tSEK 471.4b23.3x23.3x1.9x
Fri, 20 Jun 2025SEK 10.6tSEK 5.8tSEK 496.6b22.3x21.3x1.8x
Sun, 18 May 2025SEK 11.1tSEK 5.8tSEK 467.6b22.4x23.6x1.9x
Tue, 15 Apr 2025SEK 10.1tSEK 5.9tSEK 536.9b20.9x18.9x1.7x
Thu, 13 Mar 2025SEK 11.2tSEK 5.9tSEK 548.6b21.9x20.5x1.9x
Sat, 08 Feb 2025SEK 11.5tSEK 5.9tSEK 524.1b23.3x21.9x1.9x
Mon, 06 Jan 2025SEK 10.9tSEK 6.0tSEK 588.0b23.3x18.5x1.8x
Wed, 04 Dec 2024SEK 11.0tSEK 6.0tSEK 588.4b22.8x18.7x1.8x
Fri, 01 Nov 2024SEK 11.0tSEK 5.9tSEK 571.7b23.2x19.3x1.9x
Sun, 29 Sep 2024SEK 12.0tSEK 6.1tSEK 552.2b23.9x21.7x2x
Tue, 27 Aug 2024SEK 11.6tSEK 6.1tSEK 549.2b23.4x21.2x1.9x
Thu, 25 Jul 2024SEK 11.6tSEK 6.1tSEK 545.5b23.1x21.3x1.9x
Sat, 22 Jun 2024SEK 11.4tSEK 6.0tSEK 511.5b23x22.4x1.9x
Mon, 20 May 2024SEK 11.6tSEK 6.1tSEK 531.7b22.7x21.8x1.9x
Wed, 17 Apr 2024SEK 11.2tSEK 6.0tSEK 523.3b22.2x21.4x1.9x
Fri, 15 Mar 2024SEK 11.2tSEK 6.0tSEK 513.9b20.8x21.8x1.9x
Sun, 11 Feb 2024SEK 10.5tSEK 6.0tSEK 499.9b21.3x21.1x1.8x
Tue, 09 Jan 2024SEK 10.4tSEK 6.0tSEK 440.7b22.4x23.6x1.7x
Thu, 07 Dec 2023SEK 10.0tSEK 6.0tSEK 442.0b20.4x22.7x1.7x
Sat, 04 Nov 2023SEK 9.2tSEK 6.0tSEK 448.6b18.4x20.5x1.5x
Mon, 02 Oct 2023SEK 9.3tSEK 6.0tSEK 489.3b17.8x19x1.6x
Wed, 30 Aug 2023SEK 9.4tSEK 6.0tSEK 488.7b18.3x19.3x1.6x
Fri, 28 Jul 2023SEK 9.8tSEK 5.9tSEK 483.4b19.6x20.3x1.7x
Sun, 25 Jun 2023SEK 9.8tSEK 5.7tSEK 411.6b18.9x23.7x1.7x
Price to Earnings Ratio

23.7x


Total Market Cap: SEK 9.8tTotal Earnings: SEK 411.6bTotal Revenue: SEK 5.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Market Price to Earnings3Y Average 20.9x202420252026
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 17.6x which is lower than its 3-year average PE of 20.9x.
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 Market1.70%
Materials4.99%
Industrials2.71%
Financials2.39%
Tech-0.07%
Consumer Discretionary-0.37%
Real Estate-0.52%
Consumer Staples-0.59%
Healthcare-1.30%
Telecom-1.56%
Energy-1.58%
Utilities-4.58%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 26.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 14.9% 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 6.8% 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 193.457.9%
+SEK 68.8b		29.4%PE36.2xIndustrials
SAND SandvikSEK 397.309.0%
+SEK 41.1b		88.8%PE33.6xIndustrials
INVE A InvestorSEK 380.302.2%
+SEK 24.8b		38.0%PE6.1xFinancials
VOLV B AB VolvoSEK 319.003.9%
+SEK 24.4b		23.6%PE19.7xIndustrials
BOL BolidenSEK 584.0016.2%
+SEK 23.2b		100.8%PE15xMaterials
See more

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Latest News

SAGA A
SEK 152.00
AB Sagax
7D
-5.3%
1Y
-25.1%
SAND
SEK 397.30
Sandvik
7D
9.0%
1Y
88.8%
SAAB B
SEK 509.30
Saab
7D
-3.0%
1Y
2.8%
ERIC B
SEK 109.65
Telefonaktiebolaget LM Ericsson
7D
-1.7%
1Y
35.9%
SEB A
SEK 193.20
Skandinaviska Enskilda Banken
7D
5.4%
1Y
17.5%
SECU B
SEK 151.00
Securitas
7D
-3.6%
1Y
9.7%
TELIA
SEK 48.72
Telia Company
7D
-2.9%
1Y
39.4%
Narrative Update • Jun 16

TELIA: Mixed Rating Shifts And Finland Cloud Deal Will Anchor Fairly Valued Shares

Telia Company's analyst price target has been adjusted slightly higher by SEK 0.50 to reflect updated views on fair value, discount rate, growth and margins, with recent SEK 3 to SEK 8 target changes from several banks contributing to the new consensus. Analyst Commentary Bullish Takeaways Bullish analysts see room for Telia Company's valuation to align with the higher SEK targets, which cluster in the SEK 3 to SEK 8 adjustment range mentioned, suggesting scope for re-rating if execution stays on track.
VOLV B
SEK 319.00
AB Volvo
7D
3.9%
1Y
23.6%
SECT B
SEK 284.00
Sectra
7D
-9.0%
1Y
-10.3%
VOLCAR B
SEK 19.78
Volvo Car AB (publ.)
7D
-5.4%
1Y
22.0%
Narrative Update • Jun 11

VOLCAR B: U.S. Tech Approval And EV Mix Will Still Cap Upside

Analysts have trimmed their price targets on Volvo Car AB (publ.) to SEK 17.00, citing more cautious views reflected in a slightly lower discount rate, softer revenue growth assumptions, a modestly higher profit margin outlook, and a marginally higher future P/E multiple. What's in the News Volvo Cars received a specific authorization from the U.S. Department of Commerce under the Securing the Information and Communications Technology and Services Supply Chain: Connected Vehicles rule, allowing continued imports and sales in the U.S. of vehicles using connected car technology developed by majority-owned parent Geely.
ATCO A
SEK 193.45
Atlas Copco
7D
7.9%
1Y
29.4%
Narrative Update • Jun 08

ATCO A: Special Dividend And Split Ratings Will Shape Future Returns

Atlas Copco's analyst price target has been adjusted slightly, with the updated fair value estimate moving from SEK 195.14 to SEK 194.43 as analysts factor in mixed recent target changes and more balanced assumptions on revenue growth, margins and future P/E levels. Analyst Commentary Recent Street research on Atlas Copco has been mixed, with price target increases, reductions and a couple of upgrades all feeding into the slight reduction in the aggregated fair value estimate.
EPI A
SEK 274.10
Epiroc
7D
5.5%
1Y
30.2%
Narrative Update • Jun 07

EPI A: Autonomy Partnerships And African Orders Will Support Steady Future P/E

Analysts have raised their price target on Epiroc from SEK 266.40 to SEK 272.20, citing updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E that are now slightly different from prior estimates. What's in the News Epiroc and Heidelberg Materials are working on a proof of concept in Western Australia to adapt Epiroc's LinkOA autonomy platform for driverless haul trucks in quarry operations, extending LinkOA beyond mining into the aggregates sector.
EVO
SEK 699.40
Evolution
7D
-3.3%
1Y
-1.7%
Narrative Update • Jun 06

EVO: Mixed Rating Shifts And Dividend Pause Will Shape Future Risk Balance

Evolution's refreshed analyst price target edges higher to SEK 665.80 from SEK 655.61. Analysts cite updated fair value work that reflects slightly adjusted growth, profit margin and P/E assumptions, alongside a mix of recent price target moves and rating changes across the Street.
SWED A
SEK 352.70
Swedbank
7D
4.7%
1Y
42.4%
Narrative Update • Jun 06

SWED A: Future Returns Will Balance Governance Overhang With High Shareholder Payouts

Swedbank's analyst price targets have recently shifted within a relatively tight range. Citi trimmed its view to SEK 315 from SEK 330, and Morgan Stanley nudged its target up to SEK 309 from SEK 300, as analysts fine tune assumptions on discount rates, revenue growth and profit margins while overall fair value estimates remain stable.
BOL
SEK 584.00
Boliden
7D
16.2%
1Y
100.8%
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.
INVE A
SEK 380.30
Investor
7D
2.2%
1Y
38.0%