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Skanska AB (SE:SKA.B)
:SKA.B

Skanska AB (SKA.B) AI Stock Analysis

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Skanska AB

(LSE:SKA.B)

Rating:80Outperform
Price Target:
kr271.00
▲(16.66%Upside)
Skanska AB's stock is rated highly due to its strong financial performance, with robust revenue growth and excellent cash flow metrics. The technical analysis indicates a positive trend, although caution is advised due to potential overbought signals. The valuation is reasonable, with a solid dividend yield providing additional investor appeal. The absence of recent earnings call data or notable corporate events keeps the focus squarely on the fundamentals and technicals.

Skanska AB (SKA.B) vs. iShares MSCI Sweden ETF (EWD)

Skanska AB Business Overview & Revenue Model

Company DescriptionSkanska AB is a multinational construction and development company headquartered in Sweden. It operates in various sectors, including construction, residential development, commercial property development, and public-private partnerships. The company is known for its infrastructure projects, which range from building and civil construction to creating sustainable and innovative solutions in urban development. Skanska has a significant presence in Europe, the United States, and Latin America, where it undertakes projects across various sectors, including transportation, energy, and healthcare.
How the Company Makes MoneySkanska AB generates revenue primarily through its four business streams: Construction, Residential Development, Commercial Property Development, and Infrastructure Development. The Construction segment is the largest, contributing the majority of the company's revenue, and involves building and civil construction projects. Skanska undertakes large-scale infrastructure projects, often through contracts with public and private sector clients. In the Residential and Commercial Property Development sectors, Skanska invests in and develops residential and commercial properties, which are sold or leased to generate income. The company also engages in Public-Private Partnerships (PPPs), where it collaborates with government entities to finance, build, and operate infrastructure projects. Skanska's earnings are further supported by strategic partnerships and long-term contracts with clients, contributing to a steady revenue stream.

Skanska AB Financial Statement Overview

Summary
Skanska AB demonstrates strong financial health across all verticals. The company shows solid revenue growth and profitability, backed by a robust balance sheet with low leverage. Cash flow metrics are extremely positive, highlighting excellent cash management and conversion. The company is well-positioned for future growth.
Income Statement
85
Very Positive
Skanska AB's TTM revenue growth is robust at 4.01%, indicating stable growth in the engineering and construction sector. The gross profit margin of 8.41% and a net profit margin of 3.38% reflect healthy profitability, while the EBIT margin of 3.73% shows efficient cost management. The EBITDA margin at 5.41% further demonstrates strong operational efficiency.
Balance Sheet
80
Positive
The company maintains a favorable debt-to-equity ratio of 0.11, showcasing strong financial stability. With an equity ratio of 37.66%, Skanska displays a balanced capital structure. The return on equity at 10.06% indicates effective use of shareholder funds, although there's room for improvement.
Cash Flow
90
Very Positive
Skanska's free cash flow has grown significantly by 57.23%, indicating strong cash generation. The operating cash flow to net income ratio of 2.39 signifies excellent cash conversion, while the free cash flow to net income ratio of 2.31 underlines superior cash efficiency.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
183.56B176.48B167.17B163.17B143.87B160.34B
Gross Profit
15.44B14.48B13.43B16.69B15.72B16.89B
EBIT
6.84B6.75B5.28B10.02B8.29B12.63B
EBITDA
9.93B10.35B7.50B12.41B11.31B11.60B
Net Income Common Stockholders
6.20B5.55B5.00B8.26B6.86B9.88B
Balance SheetCash, Cash Equivalents and Short-Term Investments
29.78B32.20B17.91B10.01B10.95B19.51B
Total Assets
163.68B171.21B155.19B151.59B139.04B125.63B
Total Debt
6.86B7.13B17.85B14.09B14.44B14.45B
Net Debt
-9.79B-11.30B-146.00M4.07B3.49B-5.06B
Total Liabilities
101.91B108.59B98.84B96.34B93.24B86.91B
Stockholders Equity
61.62B62.47B56.20B55.11B45.68B38.62B
Cash FlowFree Cash Flow
14.32B9.11B612.00M-1.78B5.51B9.66B
Operating Cash Flow
14.82B9.11B3.21B480.00M7.44B11.28B
Investing Cash Flow
-5.61B-7.21B6.00B3.92B-11.37B1.57B
Financing Cash Flow
-5.07B-1.85B-1.25B-5.57B-5.05B-1.18B

Skanska AB Technical Analysis

Technical Analysis Sentiment
Positive
Last Price232.30
Price Trends
50DMA
220.62
Positive
100DMA
228.25
Positive
200DMA
219.99
Positive
Market Momentum
MACD
2.06
Positive
RSI
54.94
Neutral
STOCH
75.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SKA.B, the sentiment is Positive. The current price of 232.3 is below the 20-day moving average (MA) of 233.23, above the 50-day MA of 220.62, and above the 200-day MA of 219.99, indicating a neutral trend. The MACD of 2.06 indicates Positive momentum. The RSI at 54.94 is Neutral, neither overbought nor oversold. The STOCH value of 75.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SKA.B.

Skanska AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
80
Outperform
kr96.09B15.4910.49%3.43%9.67%26.69%
75
Outperform
kr59.02B27.5518.38%2.00%6.59%34.58%
74
Outperform
kr23.79B11.2313.64%3.66%0.98%5.01%
67
Neutral
kr17.02B12.2419.89%4.44%9.10%15.11%
66
Neutral
$4.51B12.295.40%3.67%4.15%-12.21%
65
Neutral
kr1.41B-2.77%-2.53%83.08%
56
Neutral
€676.50M-25.47%13.21%28.88%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:SKA.B
Skanska AB
232.30
50.27
27.61%
SE:SWEC.B
Sweco AB
162.90
14.85
10.03%
SE:PEAB.B
Peab AB
80.75
11.38
16.40%
SE:NCC.B
NCC AB
189.80
57.96
43.97%
SE:ELTEL
Eltel AB
9.00
1.64
22.28%
SE:WBGR.B
Wastbygg Gruppen AB Class B
11.20
-29.17
-72.25%

Skanska AB Corporate Events

Skanska Secures $60M Contract for University Library Renovation
Jun 12, 2025

Skanska has secured an additional contract worth USD 60 million for the renovation of the Walter Clinton Jackson Library at the University of North Carolina in Greensboro. The project aims to transform the library into a modern academic hub with high-tech group study areas and increased capacity, reflecting Skanska’s commitment to enhancing educational infrastructure and its strategic positioning in the US construction market.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures $98M Contract for Redmond Airport Expansion
Jun 12, 2025

Skanska has signed a USD 98 million contract amendment with the City of Redmond for the expansion of Redmond Municipal Airport in Oregon, USA. This project, which will enhance the airport’s capacity and passenger experience, includes a concourse expansion, terminal renovation, and new gates with jet bridges, and is expected to be completed by January 2028.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures USD 274M Contract for Rourke Bridge Replacement
Jun 10, 2025

Skanska has secured a contract with the Massachusetts Department of Transportation to design and replace the Rourke Bridge in Lowell, Massachusetts, valued at USD 274 million. This project, which includes comprehensive bridge and highway work, is expected to be completed by February 2030, enhancing Skanska’s order bookings and reinforcing its presence in the US infrastructure sector.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures $240M Contract for Virginia Tech Engineering Facility
Jun 10, 2025

Skanska has signed a supplemental contract worth USD 240 million with Virginia Tech to construct a new College of Engineering building in Virginia, USA. The project involves the renovation of Hancock Hall and the construction of the five-story Mitchell Hall, which will house several engineering departments and include a large university-owned wind tunnel. The construction began in spring 2024 and is expected to be completed by fall 2028.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska AB Announces Share Conversion to Enhance Transparency
May 30, 2025

Skanska AB announced the conversion of 1,870 Class A shares to Class B shares in May 2025, reducing the total number of votes in the company to 595,810,259. This change is part of the company’s compliance with the Swedish Financial Instruments Trading Act, reflecting its ongoing commitment to transparency and regulatory adherence.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures Major Contract for Oslo Metro Station
May 27, 2025

Skanska has secured a NOK 1.7 billion contract with Fornebubanen to construct the new Skøyen metro station in Oslo, Norway. This project, set to begin in September 2025 and complete by 2029, aims to enhance public transport connectivity and capacity at one of Oslo’s busiest hubs. The construction will focus on energy efficiency and reducing climate impact, contributing to positive urban development in the Norwegian capital.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures SEK 1.3 Billion Contract for Österåker Facility Expansion
May 26, 2025

Skanska has signed a SEK 1.3 billion contract with Specialfastigheter Sverige AB to expand and renovate the Österåker correctional facility in Stockholm, Sweden. This project, which began in 2022, involves reconstructing two buildings, constructing 13 new buildings, and completing ground and foundation work, with completion expected by autumn 2027. The total project value for Skanska, including already invoiced work, is approximately SEK 2.7 billion.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Named Climate Leader in Europe for Fourth Year
May 22, 2025

Skanska has been recognized as one of Europe’s Climate Leaders for the fourth consecutive year by the Financial Times and Statista, highlighting its commitment to reducing carbon footprints and driving sustainable innovation. The company aims for net-zero carbon emissions by 2045 and leverages its expertise in sustainable solutions and emerging technologies to enhance energy efficiency and resource savings, positioning itself as a leader in the transition to low-carbon construction.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures Major Contract for Botanic Place Development in Cambridge
May 22, 2025

Skanska has secured a GBP 199 million contract with Railpen to construct Botanic Place, a commercial office development in Cambridge, UK. This project, part of a larger GBP 242 million investment by Railpen, will feature two buildings with 31,000 square meters of workspace and aims to achieve high environmental standards. The development, which includes the restoration of the former Flying Pig pub, is expected to enhance community interaction with its terraces and is scheduled for completion by early 2028.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures Major Bypass Project in Czechia
May 22, 2025

Skanska has secured a contract with the National Highway Authority of the Czech Republic to construct the I/12 bypass near Prague, valued at CZK 3.8 billion (approximately SEK 1.7 billion). This project aims to improve traffic flow and safety by diverting transit traffic from populated areas, thereby reducing environmental and residential impact. The construction is set to begin in July 2025 and is expected to be completed by the end of 2027.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures Major Highway Construction Contract in Norway
May 20, 2025

Skanska has secured a NOK 4.4 billion contract with the Norwegian Road Authority to construct a new 21.5-kilometer section of the E6 highway in Nordland County, Norway. This project, which includes the construction of tunnels, bridges, and roads, aims to enhance traffic safety and capacity, contributing to regional growth and development. The project is expected to be completed by summer 2031 and will be certified to BREEAM Infrastructure standards, reflecting Skanska’s commitment to sustainability.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Expands Biotechnology Facility Project with USD 66M Contract
May 20, 2025

Skanska has secured an additional contract worth USD 66 million with the University of Virginia to construct the Paul and Diane Manning Institute of Biotechnology at Fontaine Research Park in Charlottesville, Virginia. This state-of-the-art facility will feature modular laboratory spaces and expanded research areas to support a pioneering translational research program in the Commonwealth. The project, which commenced in December 2023, is expected to be completed by the fourth quarter of 2027, enhancing Skanska’s presence in the biotechnology construction sector and fostering collaboration among researchers and biotech companies.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

Skanska Secures Major Contract for Hydroelectric Plant Upgrade in Norway
May 12, 2025

Skanska has secured a contract with Statkraft to upgrade and construct tunnels at the Saurland hydroelectric power plant in Suldal, Norway, valued at NOK 476 million. This project aims to enhance operational reliability and reduce water loss, ensuring efficient energy production, with construction set to begin in June 2025 and complete by June 2028.

Skanska Secures SEK 300M Contract for Skogome Prison Project
May 12, 2025

Skanska has signed a SEK 300 million contract with Specialfastigheter to complete construction at Skogome prison in Gothenburg, Sweden, after the previous contractor went bankrupt. This project, which includes three new buildings and groundworks totaling 12,000 square meters, is expected to be completed by summer 2026, enhancing Skanska’s order bookings for the second quarter of 2025.

Skanska to Redevelop Stockholm Office Building with Sustainable Features
May 9, 2025

Skanska has been contracted by AMF Fastigheter AB to modernize the Marievik 24 property in Stockholm, Sweden, with a project valued at approximately SEK 440 million. The redevelopment will add two wooden floors with green roofs and solar cells to the existing office building, emphasizing recycling and smart energy solutions while preserving its postmodern architecture. This project is notable for being the first to be classified under the ZeroCO2 Redevelopment version 2.0, marking a significant step in sustainable construction. Construction is set to begin in the second quarter of 2025 and is expected to be completed by the third quarter of 2027, potentially enhancing Skanska’s market position in sustainable building practices.

Skanska Secures $164M Data Center Project in Western USA
May 6, 2025

Skanska has secured a USD 164 million contract for a data center project in Western USA, which will be included in the company’s US order bookings for the second quarter of 2025. The project involves a 33,400 square meter, 36-megawatt tenant improvement within an existing building, expected to be completed in phases by June 2027, enhancing Skanska’s presence in the data center construction sector.

Skanska to Construct Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to build the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will be Sweden’s longest wooden bridge, aims to connect various districts of the city and accommodate multiple types of traffic, including cars, buses, pedestrians, and cyclists. Construction is set to begin immediately, with completion expected by November 2027, enhancing Skanska’s position in sustainable infrastructure development.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden, valued at approximately SEK 380 million. This project, set to be Sweden’s longest wooden bridge, will enhance connectivity between city districts and accommodate various forms of traffic, with completion expected by November 2027.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge in Skellefteå, Sweden. This project, which will be Sweden’s longest wooden bridge, is set to enhance connectivity across the city by facilitating car, bus, pedestrian, and bicycle traffic. The construction will commence immediately and is expected to be completed by November 2027, marking a significant development in Skanska’s operations and reinforcing its position in the infrastructure sector.

Skanska Secures SEK 380M Contract for Sweden’s Longest Wooden Bridge
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Skellefteå, Sweden. This project, which will be Sweden’s longest wooden bridge, is set to enhance connectivity across the city by accommodating various modes of transport, including cars, buses, pedestrians, and cyclists. Construction is set to begin immediately, with completion expected in November 2027, marking a significant addition to Skanska’s order bookings for the second quarter of 2025.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Skellefteå, Sweden. This project, which will be Sweden’s longest wooden bridge, is set to enhance connectivity between the city’s districts by accommodating various forms of traffic, including cars, buses, pedestrians, and bicycles. The construction will commence immediately and is slated for completion in November 2027, highlighting Skanska’s commitment to sustainable infrastructure development.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will be Sweden’s longest wooden bridge, is set to enhance connectivity between Skellefteå’s districts and support various modes of transportation. Construction is set to begin immediately, with completion expected in November 2027, marking a significant addition to Skanska’s order bookings for the second quarter of 2025.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will result in Sweden’s longest wooden bridge, is expected to enhance connectivity across the city and accommodate various modes of transportation, with completion anticipated by November 2027.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. The project, set to be Sweden’s longest wooden bridge, will enhance connectivity across Skellefteå by accommodating various forms of traffic and is expected to be completed by November 2027.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will result in Sweden’s longest wooden bridge, is expected to enhance connectivity between the city’s districts and accommodate various modes of transport, including cars, buses, pedestrians, and cyclists. The construction will begin immediately and is slated for completion in November 2027, marking a significant step in Skanska’s commitment to sustainable infrastructure development.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will be Sweden’s longest wooden bridge, is expected to enhance connectivity across the city by accommodating various modes of transportation, including cars, buses, pedestrians, and cyclists. Construction will commence immediately and is slated for completion in November 2027, marking a significant development in Skanska’s operations and its commitment to sustainable infrastructure.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, set to be Sweden’s longest wooden bridge, will enhance connectivity across the city by accommodating various forms of traffic and is expected to be completed by November 2027.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, set to be Sweden’s longest wooden bridge, will enhance connectivity across the city by accommodating various modes of traffic, including cars, buses, pedestrians, and cyclists. Construction will begin immediately with an expected completion in November 2027, marking a significant development in Skanska’s operations and its contribution to sustainable infrastructure.

Skanska to Construct Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has signed a SEK 380 million contract with Skellefteå Municipality to build the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, which will be Sweden’s longest wooden bridge, is expected to enhance connectivity between the city’s districts by accommodating various forms of traffic, including cars, buses, pedestrians, and bicycles. Construction is set to begin immediately and is scheduled for completion in November 2027.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has secured a SEK 380 million contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Sweden. This project, set to be Sweden’s longest wooden bridge, will enhance connectivity between the city’s districts, accommodating various modes of traffic. Construction begins immediately with completion expected by November 2027, marking a significant addition to Skanska’s order bookings for the second quarter of 2025.

Skanska to Build Sweden’s Longest Wooden Bridge in Skellefteå
Apr 28, 2025

Skanska has signed a contract with Skellefteå Municipality to construct the Karlgårdsbron bridge over the Skellefte River in Skellefteå, Sweden, valued at approximately SEK 380 million. This project, which will result in Sweden’s longest wooden bridge, aims to improve connectivity between the city’s districts and accommodate various types of traffic, with completion expected by November 2027.

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.