Afry AB (AFXXF)
Juste valeurFondamental
74
Prix
$102.20
Capitalisation boursière
$11.38B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
AFRY is a Swedish engineering, design and advisory firm. It does not manufacture anything: it sells the expertise of roughly 18,000 engineers and consultants to clients building power plants, factories, roads, buildings and transport systems. Its work spans planning, technical design and project management for the energy transition and for industrial and infrastructure projects across the Nordics and internationally.
Comment l'entreprise gagne de l'argent
Revenue comes from billing clients for consulting hours and project work, either at hourly rates or as fixed-price contracts for a defined scope. Profitability depends heavily on utilization — how much of each consultant's time is billed to a client rather than idle — rather than on selling more of a physical product. Public-sector and utility clients tend to give a steadier project pipeline than industrial clients, whose spending follows their own capital-investment cycles.
Chiffre d'affaires par segment
Engineering and advisory work for industrial clients across sectors such as forestry, mining, chemicals and manufacturing.
Design and planning for buildings, cities, roads and rail and other transport infrastructure.
Engineering for power generation, grids and renewable-energy projects, tied to the broader energy transition.
Ce qui stimule la demande
CycliqueAFRY's order book follows its clients' capital-spending plans: when industrial companies and utilities are confident enough to commit to new plants, grids or factories, they hire engineering firms to design them, and when that confidence drops, projects are delayed or shelved. Full-year 2025 net sales fell as clients navigated what the company itself described as market uncertainty across several of its business areas.
Les arguments en faveur
Buyers argue that the energy transition and infrastructure renewal across the Nordics and Europe give AFRY a long runway of engineering work, and that its scale and breadth across Energy, Industry and Transportation & Places let it win large projects that smaller specialist firms cannot staff alone.
Les arguments contre
Sellers fear that a consulting business has little pricing power when client capital spending slows, as the 2025 sales decline showed, and that profitability rises and falls with staff utilization rates that management does not fully control once demand softens.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 23 août 2026 with claude-opus-5 — shared with all users
Sweco is AFRY's closest Nordic rival, bidding for the same engineering, architecture and infrastructure design assignments from the same public authorities, utilities and property clients in Sweden, Finland, Norway and Denmark.
Ramboll, foundation-owned and based in Copenhagen, competes with AFRY across the whole Nordic region for engineering, environmental and energy consulting mandates, and increasingly for the same work in the rest of Europe.
Rejlers sells technical consulting in electrical power, automation and industrial engineering to the same Swedish, Finnish and Norwegian energy and industry clients that make up AFRY's Energy and Industry divisions.
Norconsult competes head-on with AFRY for community planning, transport infrastructure and building design contracts in Norway and Sweden, where both firms bid on the same public tenders.
COWI, the Danish foundation-owned consultancy, overlaps with AFRY on bridges, water, energy and industrial engineering projects across the Nordics and in international infrastructure work.
WSP runs one of Sweden's largest engineering consultancies and competes with AFRY for infrastructure, buildings and environmental design work both in the Nordics and on international projects.
Bilan & Liquidités
Chiffre d'affaires
$24.22B
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Résultat net
$761M
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Flux de trésorerie libre
$2.49B
Capitaux propres totaux
$12.27B
Passif total
$7.30B
Ratio de liquidité général
1.03
Couverture des intérêts
-
Dette/EBITDA
3.94
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$120.94
Prix actuel
$102.20
Marge de sécurité
+15.5%
Fourchette de juste valeur
$78.61 - $163.27
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
14.83
ROE
6.3%
Ratio P/B
0.93
P/FCF
4.40
Marge brute
79.3%
ROIC
5.9%
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
5.9%
WACC
6.5%
ROIC − WACC
-0.5 pp
Le ROIC est à peu près aligné sur le coût du capital — l'entreprise couvre à peine son coût du capital.
Critères d'analyse fondamentale
Réussi (15)
- ROIC 5.9%
- Gross Margin 79.3%
- P/FCF 4.40
- P/B Ratio 0.93
- Debt/Equity ratio
- Operating Margin 5.5%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- DCF valuation (Undervalued)
- Revenue Growth 5Y 6.3%
- Analyst Consensus 69% Buy
- Earnings Quality (OCF/NI) 3.13
Échoué (5)
- Price CAGR -3.99%
- ROE 6.3%
- Earnings Surprise avg -23.9%
- Net Margin Trend 3.1% vs 4.5%
- Piotroski F-Score 2/9
Indisponible (7)
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
- Share Dilution (missing shares data)
Score F de Piotroski
Préoccupations financières sérieuses
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Aucune déclaration institutionnelle pour cette entreprise.
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Ms. Linda Palsson | President & CEO | 51 |
| Mr. Bo Sandstrom | Executive VP & CFO | 50 |
| Ebba Vassallo | Head of Investor Relations | - |
| Ms. Susan Gustafsson | Executive VP & Group General Counsel | 52 |
| Ms. Prima Gamukama | Compliance & Ethics Officer | - |
| Mr. Henrik Tegner | EVP of Commercial & Communications | 55 |
| Daniela Spetz | EVP of Corporate Development and M&A | 35 |
| Sara Klingenborg | Executive VP of People & Culture | 52 |
| Mr. Nicholas Oksanen | EVP of Global Division Industry | 58 |
| Helena Paulsson | Head of Urban Development | - |
Risque d'audit
2
Risque du conseil
4
Risque de rémunération
8
Risque droits des actionnaires
8
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for AFXXF, sourced from Markets Gazette.