Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Market Analysis & Valuation

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies784
  • 7D-2.1%
  • 3M1.4%
  • 1Y10.8%
  • YTD1.0%

Over the last 7 days, the market has dropped 2.1%, driven by a loss of 2.2% in the Industrials sector. As for the longer term, the market has actually risen by 11% in the last year. Looking forward, 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
Fri, 12 Jun 2026SEK 11.9tSEK 5.8tSEK 692.5b19.9x17.2x2.1x
Sun, 10 May 2026SEK 12.0tSEK 5.8tSEK 701.0b20.8x17.2x2.1x
Tue, 07 Apr 2026SEK 11.6tSEK 5.8tSEK 646.5b20.3x17.9x2x
Thu, 05 Mar 2026SEK 12.1tSEK 5.8tSEK 648.2b21.1x18.7x2.1x
Sat, 31 Jan 2026SEK 12.1tSEK 5.8tSEK 633.1b22x19.1x2.1x
Mon, 29 Dec 2025SEK 11.7tSEK 5.8tSEK 547.1b21.8x21.3x2x
Wed, 26 Nov 2025SEK 11.4tSEK 5.8tSEK 546.5b22x20.8x2x
Fri, 24 Oct 2025SEK 11.6tSEK 5.8tSEK 535.3b23.1x21.6x2x
Sun, 21 Sep 2025SEK 11.1tSEK 5.8tSEK 480.6b23.1x23.1x1.9x
Tue, 19 Aug 2025SEK 11.0tSEK 5.7tSEK 473.1b23.4x23.3x1.9x
Thu, 17 Jul 2025SEK 11.0tSEK 5.8tSEK 519.5b23.2x21.1x1.9x
Sat, 14 Jun 2025SEK 10.6tSEK 5.8tSEK 496.7b22.4x21.4x1.8x
Mon, 12 May 2025SEK 10.7tSEK 5.8tSEK 469.4b21.9x22.8x1.8x
Wed, 09 Apr 2025SEK 9.7tSEK 5.9tSEK 536.5b20.3x18.1x1.6x
Fri, 07 Mar 2025SEK 11.5tSEK 5.9tSEK 554.8b22.1x20.8x2x
Sun, 02 Feb 2025SEK 11.6tSEK 5.9tSEK 512.3b23.6x22.6x2x
Tue, 31 Dec 2024SEK 10.8tSEK 6.0tSEK 587.9b23.2x18.3x1.8x
Thu, 28 Nov 2024SEK 10.7tSEK 6.0tSEK 586.7b22x18.2x1.8x
Sat, 26 Oct 2024SEK 11.2tSEK 6.0tSEK 572.5b23.1x19.5x1.9x
Mon, 23 Sep 2024SEK 11.7tSEK 6.1tSEK 554.2b23.7x21.2x1.9x
Wed, 21 Aug 2024SEK 11.4tSEK 6.1tSEK 547.4b22.6x20.9x1.9x
Fri, 19 Jul 2024SEK 11.8tSEK 6.1tSEK 522.4b23.8x22.5x1.9x
Sun, 16 Jun 2024SEK 11.4tSEK 6.0tSEK 511.4b22.9x22.2x1.9x
Tue, 14 May 2024SEK 11.7tSEK 6.1tSEK 552.2b23x21.1x1.9x
Thu, 11 Apr 2024SEK 11.2tSEK 6.0tSEK 521.8b22x21.5x1.9x
Sat, 09 Mar 2024SEK 11.1tSEK 6.0tSEK 513.2b20.6x21.6x1.8x
Mon, 05 Feb 2024SEK 10.4tSEK 6.0tSEK 502.0b21.5x20.8x1.7x
Wed, 03 Jan 2024SEK 10.6tSEK 6.0tSEK 441.3b22.4x23.9x1.7x
Fri, 01 Dec 2023SEK 9.7tSEK 6.0tSEK 443.1b20.2x22x1.6x
Sun, 29 Oct 2023SEK 8.8tSEK 6.0tSEK 450.8b17.5x19.5x1.5x
Tue, 26 Sep 2023SEK 9.3tSEK 6.0tSEK 487.6b17.8x19x1.6x
Thu, 24 Aug 2023SEK 9.3tSEK 6.0tSEK 490.0b18.6x19x1.6x
Sat, 22 Jul 2023SEK 9.7tSEK 5.9tSEK 486.4b19.3x20x1.6x
Mon, 19 Jun 2023SEK 10.1tSEK 5.7tSEK 411.7b19.3x24.6x1.8x
Price to Earnings Ratio

24.6x


Total Market Cap: SEK 10.1tTotal Earnings: SEK 411.7bTotal 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 17.2x 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 Market-2.06%
Energy10.33%
Consumer Staples2.26%
Telecom1.87%
Consumer Discretionary-0.37%
Financials-1.11%
Real Estate-1.23%
Healthcare-1.67%
Industrials-2.23%
Utilities-3.62%
Materials-4.69%
Tech-8.23%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 25.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.0% 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 6.7% 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
TELIA Telia CompanySEK 50.924.0%
+SEK 7.7b		43.3%PE43.2xTelecom
TEL2 B Tele2SEK 183.255.4%
+SEK 6.5b		29.5%PE12.6xTelecom
ESSITY B EssitySEK 262.603.4%
+SEK 5.9b		-2.7%PE14.3xConsumer Staples
SAAB B SaabSEK 536.001.9%
+SEK 5.5b		19.8%PE44.5xIndustrials
SWED A SwedbankSEK 338.801.3%
+SEK 4.7b		35.5%PB1.9xFinancials
See more

Market Insights

Header cover image
Software stocks crashed on fears AI would make them obsolete, then they came roaring back. This edition of Market Insights aims to hand investors a repeatable playbook for separating real risk from market panic.
Continue reading
The gravity of the SpaceX IPO

Latest News

VOLV B
SEK 310.10
AB Volvo
7D
-4.8%
1Y
16.6%
Narrative Update • Jun 10

VOLV B: Rich P E Assumptions Will Likely Buckle Under Margin Execution Risks

Analysts have raised their AB Volvo price targets by SEK 10 to SEK 270, citing slightly firmer profit margin expectations, a modestly lower discount rate, and a small adjustment to assumed future P/E levels, even as projected revenue growth is trimmed. Analyst Commentary Recent research on AB Volvo reflects a mixed tone, with some analysts lifting price targets while others highlight risks that could cap upside.
EQT
SEK 281.30
EQT
7D
-6.1%
1Y
-0.04%
HEXA B
SEK 78.66
Hexagon
7D
-9.9%
1Y
-17.6%
SAND
SEK 367.60
Sandvik
7D
-3.8%
1Y
73.5%
CLAS B
SEK 412.00
Clas Ohlson
7D
13.8%
1Y
23.9%
Narrative Update • Jun 08

CLAS B: Future Returns Will Rely On Acquisitions And Dividend Discipline

Analysts have raised their price target for Clas Ohlson to SEK 406.67 from SEK 398.33, reflecting updated assumptions that include a slightly lower discount rate, modestly softer revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News Clas Ohlson reported record sales and earnings for the year, with strong cash generation and what it described as a robust balance sheet.
EPI A
SEK 261.80
Epiroc
7D
-5.9%
1Y
23.3%
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.
SAVE
SEK 344.20
Nordnet
7D
3.6%
1Y
38.1%
SWED A
SEK 338.80
Swedbank
7D
1.3%
1Y
35.5%
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.
TELIA
SEK 50.92
Telia Company
7D
4.0%
1Y
43.3%
SAAB B
SEK 536.00
Saab
7D
1.9%
1Y
19.8%
BOL
SEK 514.40
Boliden
7D
-9.7%
1Y
72.7%
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.
TEL2 B
SEK 183.25
Tele2
7D
5.4%
1Y
29.5%
ERIC B
SEK 112.70
Telefonaktiebolaget LM Ericsson
7D
-9.3%
1Y
39.6%
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.
ESSITY B
SEK 262.60
Essity
7D
3.4%
1Y
-2.7%
Narrative Update • Jun 03

ESSITY B: Neutral View As Discount Rates Rise And Tissue Review Progresses

Essity’s updated analyst price target has been trimmed by about SEK 1 to around SEK 265, as analysts factor in slightly higher discount rates alongside only modest adjustments to revenue growth, profit margin and future P/E assumptions, following a series of recent target cuts and a downgrade across the Street. Analyst Commentary Recent research updates cluster around a more cautious stance, with several firms trimming price targets and JPMorgan moving to a downgrade.
SEB A
SEK 183.15
Skandinaviska Enskilda Banken
7D
0.7%
1Y
11.1%
Narrative Update • Jun 02

SEB A: Future Returns Will Depend On Balanced Execution And Moderate Risk Repricing

Skandinaviska Enskilda Banken's analyst price target has been trimmed by SEK 1.19 to SEK 190.63, as analysts factor in slightly higher discount rates and modestly adjusted growth expectations while keeping profit margin and future P/E assumptions broadly steady. Analyst Commentary Recent price target moves cluster in a relatively tight SEK 175 to SEK 190 range, with several firms trimming their targets and a few lifting them by smaller increments.
INVE A
SEK 371.40
Investor
7D
-1.4%
1Y
33.0%