The largest Stockholm stock exchange companies by net sales in FY2025 were AB Volvo (VOLV B, SEK 479.2 billion), Volvo Car AB (VOLCAR B, SEK 357.3 billion) and Telefonaktiebolaget LM Ericsson (ERIC B, SEK 236.7 billion), all listed on Nasdaq Stockholm. Industrial groups make up most of the 20 largest companies that report in Swedish kronor.
We took each figure from the company's FY2025 year-end or annual report, such as AB Volvo's Q4 2025 report or Atlas Copco's Annual Report 2025, and link the page in the sources. Banks, insurers, real estate companies and investment companies are left out, because their income is not comparable with net sales. Several large Stockholm-listed companies report in US dollars or euros, so we list them separately instead of converting currencies.
The 20 largest Stockholm stock exchange companies by FY2025 net sales
The table ranks operating companies on Nasdaq Stockholm that report in Swedish kronor by FY2025 net sales, taken from each company's year-end or annual report.
| Rank | Company | Ticker | FY2025 net sales, SEK billion |
|---|---|---|---|
| 1 | AB Volvo | VOLV B | 479.2 |
| 2 | Volvo Car AB | VOLCAR B | 357.3 |
| 3 | Telefonaktiebolaget LM Ericsson | ERIC B | 236.7 |
| 4 | H & M Hennes & Mauritz AB2 | HM B | 228.3 |
| 5 | Skanska AB | SKA B | 176.7 |
| 6 | Atlas Copco AB | ATCO A | 168.3 |
| 7 | Securitas AB | SECU B | 155.1 |
| 8 | ASSA ABLOY AB | ASSA B | 152.4 |
| 9 | Essity AB | ESSITY B | 138.5 |
| 10 | Sandvik AB | SAND | 120.7 |
| 11 | SSAB AB | SSAB B | 96.2 |
| 12 | Boliden AB | BOL | 93.5 |
| 13 | AB SKF | SKF A | 91.6 |
| 14 | Axfood AB | AXFO | 89.2 |
| 15 | Telia Company AB | TELIA | 81.0 |
| 16 | Saab AB | SAAB B | 79.1 |
| 17 | Alfa Laval AB | ALFA | 69.7 |
| 18 | Epiroc AB | EPI A | 62.0 |
| 19 | Peab AB | PEAB B | 58.6 |
| 20 | NCC AB | NCC B | 55.7 |
Source: each company's FY2025 year-end report or annual report, SEK, fiscal years ended 31 Dec 2025 except H&M (30 Nov 2025); amounts rounded to one decimal from reported SEK million (Peab and Telia as stated in SEK billion); data as of 28 Oct 20261. Operating companies only.
Large Stockholm-listed companies that report in other currencies
These companies are listed on Nasdaq Stockholm but report in US dollars or euros; the table shows FY2025 revenue in each company's own reporting currency, without ranking across currencies.
| Company | Ticker | Reporting currency | FY2025 revenue, million |
|---|---|---|---|
| ABB Ltd | ABB | USD | 33,220 |
| Autoliv, Inc. (Swedish depository receipts) | ALIV SDB | USD | 10,815 |
| Stora Enso Oyj | STE R | EUR | 9,326 |
| Hexagon AB (operating net sales) | HEXA B | EUR | 5,426.5 |
Source: ABB Ltd Q4 2025 report, p. 15; Autoliv, Inc. Q4 2025 report, p. 26; Stora Enso Oyj ESEF annual report FY2025; Hexagon AB Annual Report 2025, p. 35. FY2025, fiscal years ended 31 Dec 2025, in reporting currency; data as of 28 Oct 20263.
ABB's US dollar revenue of USD 33,220 million, from its Q4 2025 report, would place it among the largest companies on the exchange by size, but comparing it with kronor figures requires an exchange-rate choice, so we keep it out of the SEK ranking.
What the Stockholm ranking says about the Swedish market
Three groups dominate the list of the largest companies on Nasdaq Stockholm.
Eight engineering groups
AB Volvo, Volvo Cars, Atlas Copco, Sandvik, SKF, Alfa Laval, Epiroc and Saab make and service vehicles, equipment and defence systems for global customers.
Building and protecting
Skanska, Peab and NCC build infrastructure and property; Securitas and ASSA ABLOY sell security services and access solutions.
The rest of the top 20
H&M, Essity and Axfood serve consumers; Ericsson and Telia are telecom; SSAB and Boliden produce steel and metals.
The gap at the top is wide: AB Volvo's net sales were more than twice those of any company outside the top three. H&M is the one large company in the table whose fiscal year does not follow the calendar year; its FY2025, reported in its Q4 2025 report, ran from 1 December 2024 to 30 November 2025.
How to read a revenue ranking of Stockholm-listed companies
Net sales are the simplest way to compare company size, because every operating company reports them under the same IFRS 15 rules. Keep these limits in mind:
- Net sales are not profit. A grocery retailer such as Axfood turns over far more per krona of profit than an engineering group.
- Net sales are not market value. Some companies lower in the table are valued more highly than some above them.
- Currency matters. Ranking a USD reporter against SEK reporters requires converting at some rate, which changes the result as rates move.
- Group revenue includes foreign operations. For most companies in the table, the majority of sales are made outside Sweden.
The same ranking can be run for other metrics (operating profit, margins, growth) on our Nasdaq Stockholm exchange page, through the Data API, or in Claude and ChatGPT with our read-only MCP server; see Clarifo in ChatGPT for setup.
Rank operating companies on Nasdaq Stockholm that report in SEK by FY2025 net sales, top 20, excluding banks, insurers, real estate and investment companies. Show each company's fiscal year end and link the report page for every figure.
See every Nasdaq Stockholm company with its reported figures, reporting currency and a link to the source filing.
Browse Stockholm stock exchange companies Use Clarifo in Claude or ChatGPT
- FY2025 year-end and annual reports: AB Volvo Q4 2025 report, p. 2: filing page; Volvo Car AB Q4 2025 report, p. 12: filing page; Ericsson Q4 2025 report, p. 20: filing page; Skanska Annual Report 2025, note 6, p. 150: filing page; Atlas Copco Annual Report 2025, p. 106: filing page; Securitas Annual Report 2025, p. 107: filing page; ASSA ABLOY Q4 2025 report, p. 2: filing page; Essity Q4 2025 report, p. 2: filing page; Sandvik Annual Report 2025, p. 178: filing page; SSAB Annual Report 2025, p. 117: filing page; Boliden Annual Report 2025, p. 27: filing page; SKF Q4 2025 report, p. 19: filing page; Axfood Q4 2025 report, p. 22: filing page; Telia Company Q4 2025 report, p. 2: filing page; Saab Q4 2025 report, p. 2: filing page; Alfa Laval Q4 2025 report, note 5, p. 28: filing page; Epiroc Q4 2025 report, p. 16: filing page; Peab Q4 2025 report, p. 3: filing page; NCC Q4 2025 report, p. 3: filing page.
- H & M Hennes & Mauritz AB, Q4 2025 report, group income statement, fiscal year 1 Dec 2024 – 30 Nov 2025, p. 16: filing page.
- ABB Ltd Q4 2025 report, p. 15: filing page; Autoliv, Inc. Q4 2025 report, p. 26: filing page; Stora Enso Oyj ESEF annual report FY2025; Hexagon AB Annual Report 2025, p. 35: filing page.
Not investment advice. Figures are based on data reported by the companies.