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Sandvik AB
(SAND)
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Rating:63Neutral
Price Target:
kr372.00
▲(6.38% Upside)
Action:Downgraded
Date:07/25/26
The score is primarily supported by solid financial performance (return to revenue growth, healthy margins, and strong ROE). It is held back by weak technicals (price below key moving averages with negative MACD) and a valuation that looks somewhat rich (P/E ~26) with only a modest dividend yield.
Positive Factors
Recurring aftermarket & services
Sandvik's recurring revenue from consumables, replacement parts and lifecycle services tied to a large installed base supports steadier revenue and margins over time. This reduces dependence on volatile new-equipment orders and strengthens customer retention and predictable aftermarket cash flows.
Negative Factors
Margin volatility and recent compression
Recent margin compression versus prior-year peaks suggests exposure to mix shifts, cost inflation or pricing pressure. Persistent margin variability weakens earnings predictability and can erode free cash flow and returns unless offset by pricing, productivity or higher-margin aftermarket growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring aftermarket & services
Sandvik's recurring revenue from consumables, replacement parts and lifecycle services tied to a large installed base supports steadier revenue and margins over time. This reduces dependence on volatile new-equipment orders and strengthens customer retention and predictable aftermarket cash flows.
Read all positive factors
Sandvik AB (SAND) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr446.56B
Dividend Yield1.69%
Average Volume (3M)2.09M
Price to Earnings (P/E)26.5
Beta (1Y)1.55
Revenue Growth6.31%
EPS Growth16.31%
CountrySE
Employees42,373
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)13.43
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
kr395.56Price Target Upside13.11% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)16.76
Revenue Forecast (FY)kr144.13B
Sandvik AB Business Overview & Revenue Model
Company Description
Sandvik AB (publ) is a global engineering conglomerate based in Stockholm, Sweden, specializing in providing cutting-edge solutions across various industrial domains. Its core operations encompass mining and rock excavation, mineral processing, so...
How the Company Makes Money
Sandvik primarily makes money by selling equipment, tools, and technology solutions, complemented by recurring aftermarket and service revenues across its installed base.
1) Sale of equipment and systems (often project- or order-driven): In Minin...
Sandvik AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
77
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 129.12B | 120.68B | 122.88B | 126.50B | 112.33B | 99.11B |
| Gross Profit | 52.08B | 49.00B | 49.14B | 52.05B | 45.37B | 40.17B |
| EBITDA | 32.55B | 28.86B | 26.99B | 30.06B | 25.86B | 23.72B |
| Net Income | 16.85B | 14.69B | 12.24B | 15.30B | 11.21B | 14.46B |
Balance Sheet | ||||||
| Total Assets | 186.88B | 169.86B | 184.38B | 174.21B | 176.68B | 155.52B |
| Cash, Cash Equivalents and Short-Term Investments | 3.62B | 4.96B | 4.53B | 4.36B | 10.49B | 13.59B |
| Total Debt | 43.12B | 37.12B | 42.76B | 45.08B | 52.06B | 34.35B |
| Total Liabilities | 86.39B | 76.62B | 87.39B | 86.51B | 95.41B | 78.19B |
| Stockholders Equity | 100.42B | 93.17B | 96.92B | 87.63B | 81.23B | 77.20B |
Cash Flow | ||||||
| Free Cash Flow | 17.52B | 16.08B | 15.77B | 13.44B | 5.93B | 9.60B |
| Operating Cash Flow | 21.23B | 19.91B | 20.61B | 18.80B | 10.46B | 13.18B |
| Investing Cash Flow | -5.52B | -7.09B | -7.67B | -8.51B | -20.30B | -26.19B |
| Financing Cash Flow | -15.60B | -11.90B | -12.99B | -16.21B | 6.22B | 2.49B |
Sandvik AB Technical Analysis
Positive
349.70
Price Trends
376.32
Negative
373.71
Negative
345.62
Positive
Market Momentum
-3.72
Negative
49.38
Neutral
72.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SAND, the sentiment is Positive. The current price of 349.7 is below the 20-day moving average (MA) of 359.66, below the 50-day MA of 376.32, and above the 200-day MA of 345.62, indicating a neutral trend. The MACD of -3.72 indicates Negative momentum. The RSI at 49.38 is Neutral, neither overbought nor oversold. The STOCH value of 72.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SAND.
Sandvik AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | kr939.54B | 36.83 | 23.93% | 1.45% | -1.80% | -5.25% | |
73 Outperform | kr939.54B | 36.83 | 23.93% | 2.03% | -1.80% | -5.25% | |
73 Outperform | kr92.60B | 25.08 | 10.20% | 1.95% | 0.11% | 7.71% | |
72 Outperform | kr232.95B | 28.42 | 18.42% | 1.57% | 3.87% | 2.11% | |
70 Neutral | kr67.97B | 28.76 | 10.47% | 1.06% | -0.16% | -0.47% | |
63 Neutral | kr446.56B | 26.51 | 17.52% | 1.72% | 6.31% | 16.31% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SAND
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Sandvik AB Corporate Events
Sandvik posts record Q2 results and expands downstream mining portfolio
Jul 17, 2026
Sandvik reported a strong second quarter, with total order intake rising 17% to SEK 37.8 billion and revenues up 24% to SEK 36.8 billion, driven by double‑digit organic growth. Adjusted EBITA jumped 48% to SEK 8.3 billion, lifting the margin...
Sandvik strengthens digital manufacturing push with India and U.S. CAM acquisitions
Jul 7, 2026
Sandvik has acquired Mastercam India and select assets of U.S.-based CAD/CAM Consulting Services Inc., both longstanding Mastercam channel partners. The two businesses will be integrated into Sandvik’s Mastercam unit within the Intelligent M...
Sandvik to Present Second-Quarter 2026 Results in Global Webcast
Jul 6, 2026
Sandvik has scheduled the release of its second-quarter 2026 results for July 17, 2026, at around 11:30 AM CEST, followed by a webcast and conference call at 13:00 PM CEST for investors, analysts and financial media. President and CEO Stefan Widin...
Sandvik lands SEK 340 million underground mining equipment order in Mexico
Jul 3, 2026
Sandvik has secured a large underground mining equipment order worth about SEK 340 million from Mexican mining contractor CoMinVi, reinforcing its presence in Latin America’s mining sector. The agreement covers trucks, loaders and drill rigs...
Sandvik Sets 2026 Capital Markets Day at Major Mining Site in Finland
Jun 29, 2026
Sandvik will hold its Capital Markets Day on November 24–25, 2026, in Tampere, Finland, at one of its major mining business sites, underscoring the strategic importance of its Mining division. The event will feature presentations from the CE...
Sandvik Wins SEK 175 Million LKAB Order for High-Tech Ore Sorting Plant
Jun 25, 2026
Sandvik has secured a SEK 175 million order from Swedish mining company LKAB to supply cone crushers, double-deck screens, and vibrating feeders for a new sorting plant in Malmberget. The equipment, fitted with Sandvik’s Automation and Conne...
Sandvik moves into mining filtration with acquisition of Italy’s Diemme
Jun 22, 2026
Sandvik has agreed to acquire Italy-based Diemme Filtration, a leading provider of filtration and dewatering solutions for the global mining sector, and will house it in a new Filtration division within its Rock Processing business. The move bring...
Sandvik wins SEK 350 million mining equipment order for Bellevue Gold Project
Jun 15, 2026
Sandvik has secured a SEK 350 million order from mining contractor Barminco to supply underground loaders, trucks and drill rigs, along with rock tools, parts and services, for the Bellevue Gold Project in Western Australia. Deliveries are schedul...
Sandvik wins SEK 650 million equipment order for Botswana copper mine
Jun 4, 2026
Sandvik has secured a SEK 650 million order from China-based contractor JCHX Mining Management for an underground mining equipment fleet at the expanding Khoemacau Copper Mine in Botswana’s Kalahari Copper Belt. The deal underscores Sandvik&...
Sandvik to Sell Additive Manufacturing Unit to Sweden’s Mimir
May 29, 2026
Sandvik has agreed to sell its Additive Manufacturing business unit, which produces metal powders for additive manufacturing, metal injection molding, hot isostatic pressing and controlled expansion alloys, to Swedish investment firm Mimir. The mo...
Sandvik AGM Confirms Dividend, Incentive Plan and Share Buyback Amid Solid 2025 Performance
Apr 28, 2026
Sandvik AB, a global engineering group focused on advanced equipment and digital solutions for manufacturing, mining and infrastructure, reported solid 2025 performance amid geopolitical uncertainty, underscoring its transformation into a more res...
Sandvik Names Patrick Murphy as New Head of Mining Business
Apr 27, 2026
Sandvik has appointed Patrick Murphy as President of its Mining business area and member of the Group Executive Management, effective July 1, 2026, succeeding Mats Eriksson ahead of his planned retirement in 2027. Murphy, currently President of th...
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.