Sandvik AB (SE:SAND)
:SAND
Top Page
Sandvik AB
(SAND)
Select Model
Select Model
Rating:70Outperform
Price Target:
kr431.00
â–²(24.06% Upside)
Action:ReiteratedDate:01/29/26
The score is driven primarily by strong underlying financial performance (healthy profitability, improving 2025 margins, and manageable leverage). Technicals support the uptrend, but overbought conditions raise near-term downside risk. A relatively high P/E and modest dividend yield weigh on the overall score.
Positive Factors
Diversified business model & recurring aftermarket
Sandvik's mix of mining equipment, cutting tools, materials and a strong aftermarket creates recurring service and parts revenue. This diversification reduces reliance on new-equipment cycles, supports margins and customer stickiness, and stabilizes cash flow over multi-year horizons.
Negative Factors
Cyclical demand and earnings volatility
Sandvik's end markets are cyclical, and prior years show revenue and margin swings. Cyclicality can materially compress volumes and profits during downturns, forcing cost cuts or delaying investments, which raises execution risk and earnings variability over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model & recurring aftermarket
Sandvik's mix of mining equipment, cutting tools, materials and a strong aftermarket creates recurring service and parts revenue. This diversification reduces reliance on new-equipment cycles, supports margins and customer stickiness, and stabilizes cash flow over multi-year horizons.
Read all positive factors
Sandvik AB (SAND) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr435.77B
Dividend Yield1.94%
Average Volume (3M)2.09M
Price to Earnings (P/E)25.7
Beta (1Y)1.43
Revenue Growth-1.77%
EPS Growth21.13%
CountrySE
Employees41,400
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.35
Shares Outstanding1,254,385,900
10 Day Avg. Volume2,008,417
30 Day Avg. Volume2,089,933
Financial Highlights & Ratios
PEG Ratio1.28
Price to Book (P/B)4.05
Price to Sales (P/S)3.12
P/FCF Ratio23.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr361.67Price Target Upside4.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)14.52
Revenue Forecast (FY)kr132.06B
Sandvik AB Business Overview & Revenue Model
Company Description
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, rock processing, manufacturing and machining, and materials technology in Sweden and internationally. The company offers mining and rock solutions, in...
How the Company Makes Money
Sandvik generates revenue through several key streams. The primary revenue stream comes from the sale of machinery and equipment in the Mining and Rock Solutions segment, which includes drilling rigs, crushers, and loaders. The Manufacturing and M...
Sandvik AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 120.68B | 122.88B | 126.50B | 112.33B | 99.11B |
| Gross Profit | 49.00B | 49.14B | 52.05B | 45.37B | 40.17B |
| EBITDA | 28.86B | 26.99B | 30.06B | 25.86B | 23.72B |
| Net Income | 14.69B | 12.24B | 15.30B | 11.21B | 14.46B |
Balance Sheet | |||||
| Total Assets | 169.86B | 184.38B | 174.21B | 176.68B | 155.52B |
| Cash, Cash Equivalents and Short-Term Investments | 4.96B | 4.53B | 4.36B | 10.49B | 13.59B |
| Total Debt | 37.12B | 42.76B | 45.08B | 52.06B | 34.35B |
| Total Liabilities | 76.62B | 87.39B | 86.51B | 95.41B | 78.19B |
| Stockholders Equity | 93.17B | 96.92B | 87.63B | 81.23B | 77.20B |
Cash Flow | |||||
| Free Cash Flow | 16.08B | 15.77B | 13.44B | 5.93B | 9.60B |
| Operating Cash Flow | 19.91B | 20.61B | 18.80B | 10.46B | 13.18B |
| Investing Cash Flow | -7.09B | -7.67B | -8.51B | -20.30B | -26.19B |
| Financing Cash Flow | -11.90B | -12.99B | -16.21B | 6.22B | 2.49B |
Sandvik AB Technical Analysis
Neutral
347.40
Price Trends
363.20
Negative
328.33
Positive
286.33
Positive
Market Momentum
-6.62
Positive
43.11
Neutral
50.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SAND, the sentiment is Neutral. The current price of 347.4 is below the 20-day moving average (MA) of 363.57, below the 50-day MA of 363.20, and above the 200-day MA of 286.33, indicating a neutral trend. The MACD of -6.62 indicates Positive momentum. The RSI at 43.11 is Neutral, neither overbought nor oversold. The STOCH value of 50.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SAND.
Sandvik AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | kr760.77B | 27.46 | 26.43% | 2.03% | -2.38% | -4.00% | |
76 Outperform | kr760.77B | 30.60 | 24.69% | 1.82% | -2.38% | -4.00% | |
73 Outperform | kr213.28B | 23.27 | 20.42% | 1.84% | 3.54% | 20.94% | |
70 Outperform | kr435.77B | 25.67 | 16.39% | 1.94% | -1.77% | 21.13% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr77.25B | 24.91 | 9.65% | 1.95% | 2.73% | 7.56% | |
57 Neutral | kr65.26B | 32.51 | 11.04% | 0.95% | 9.08% | -3.36% |
* Industrials Sector Average
SE:SAND
Sandvik AB
344.70
132.70
62.59%
SE:ALFA
Alfa Laval AB
502.40
69.18
15.97%
SE:ATCO.B
Atlas Copco AB
142.40
0.38
0.27%
SE:ATCO.A
Atlas Copco AB
160.20
-0.64
-0.40%
SE:TREL.B
Trelleborg AB
339.70
-35.29
-9.41%
SE:BEIJ.B
Beijer Ref AB Class B
126.80
-15.66
-11.00%
Sandvik AB Corporate Events
Sandvik to Acquire South African Mining Simulator Firm ThoroughTec
Feb 12, 2026
Sandvik has agreed to acquire ThoroughTec Simulation, a South Africa-based provider of OEM-agnostic mining equipment simulators and simulator-based training, which will be integrated into the Parts and Services division of its Mining business. The...
Sandvik Publishes Proforma Figures for New Machining and Intelligent Manufacturing Units
Feb 5, 2026
Sandvik has published proforma financial figures for its newly created Machining and Intelligent Manufacturing business areas, reflecting the updated group structure that will take effect from January 1, 2026. The Machining unit reported 2025 reve...
Sandvik expands digital manufacturing reach with CAM acquisition from MLC CAD Systems
Feb 3, 2026
Sandvik has acquired the CAM business of MLC CAD Systems, a US-based reseller within the Mastercam network, folding it into its Mastercam business unit under the Intelligent Manufacturing division. The deal, which adds a Texas-headquartered team o...
Sandvik Mining Chief Mats Eriksson to Retire in 2027 After Phased Handover
Jan 27, 2026
Sandvik has announced that Mats Eriksson, President of its Mining business area, will retire in 2027, stepping down from his executive role and Group Executive Management in 2026 once a successor is appointed, tentatively around 1 July. Eriksson, ...
Sandvik Caps Strategy Period With Record Mining Momentum and Strong Q4 Finish
Jan 27, 2026
Sandvik reported a robust close to 2025, with fourth-quarter total order intake up 4% to SEK 32.7 billion and organic orders rising 15%, while revenues grew 1% to SEK 32.5 billion with 12% organic growth. Adjusted EBITA increased slightly to SEK 6...
Sandvik Lands SEK 420 Million Underground Mining Equipment Order in Australia
Jan 22, 2026
Sandvik has secured a major SEK 420 million order from global mining contractor The Redpath Group to supply underground mining equipment for Evolution Mining’s Cowal Gold Operations in New South Wales, Australia, with deliveries of trucks, l...
Sandvik Nomination Committee Backs Full Board Re-Election for 2026 AGM
Jan 21, 2026
Sandvik’s Nomination Committee has proposed the re-election of current board members Claes Boustedt, Marika Fredriksson, Johan Molin, Andreas Nordbrandt, Susanna Schneeberger, Helena Stjernholm, Stefan Widing and Kai Wärn for the 2026 A...
Sandvik to Present Fourth-Quarter 2025 Results on January 27, 2026
Jan 13, 2026
Sandvik has announced it will publish its fourth-quarter 2025 results on January 27, 2026, followed by a live webcast and conference call for investors, analysts and financial media later that morning, where President and CEO Stefan Widing and CFO...
Sandvik Lands Major Battery-Electric Mining Fleet Order from Eldorado Gold in Canada
Dec 19, 2025
Sandvik has secured a large SEK 160 million order from Eldorado Gold for battery-electric trucks and loaders to be deployed at the Lamaque underground mine in Val-d’Or, Québec, with deliveries scheduled to start in mid‑2026 and ex...
Sandvik Secures Major Mining Equipment Order in Australia
Dec 15, 2025
Sandvik has secured a significant order from Northern Star Resources Ltd, a leading Australian gold producer, for underground mining equipment valued at approximately SEK 260 million. This deal, expected to enhance productivity, safety, and sustai...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.