Hexagon AB HEXA B
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Full analysis: 5 Apr 2026
Latest news check: 30 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Hold existing position; consider adding after a strong Q1 print or clearer spin-off terms.
Strong organic growth, margin expansion and improved cash conversion in Q2 reinforce the long-term case, yet uncertainty around cyclical end markets supports a wait-and-see stance.
Market sentiment
8/10
↑
Trend: Improving
Sentiment has improved on the earnings beat and margin expansion, although concerns over weaker end markets persist.
Price context
The stock trades at 95.94 SEK after a more than 20 % weekly gain, reflecting a disconnect between strong operational momentum and still-cautious investor sentiment.
Risk assessment
6/10
Dilution:
Low
Strong cash flow; no equity raise indicated
Jurisdiction:
Low
Sweden/Western Europe base; low political risk
Execution:
Medium
Spin-off and SaaS shift require flawless execution
Recent changes
- The 29 July report showed strong organic growth and margin expansion, reinforcing the operational case.
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Show all changes (3) — follow the company freeAbout the company
Hexagon AB is a Swedish industrial technology company selling sensors, software and autonomous solutions for measurement, positioning and industrial digitalisation. The business is profitable with steady organic growth, but near-term results can be affected by FX headwinds and customer/channel destocking in China. A planned 2026 spin-off of a software/SaaS unit is a key catalyst.
Sector:
Industrial metrology and geospatial software
Type:
Tech
Next report
23 Oct 2026
Q3
Catalysts
23 Oct 2026
Q3 report
High
Unknown
Cost synergies
Medium
Horizon:
Bull case
Strong order intake in Manufacturing Intelligence and Autonomous Solutions plus full restructuring benefits from Q4 2026 provide upside.
Bear case
Weakness in automotive, agriculture and construction in EMEA together with negative FX effects may continue to weigh on demand and margins.
Signal rationale (informational)
Strong organic growth, margin expansion and improved cash conversion in Q2 reinforce the long-term case, yet uncertainty around cyclical end markets supports a wait-and-see stance.
Recent news
- The Q2 report on 29 July showed revenue of 1050.2 MEUR, 12 % organic growth, EBIT1 margin of 25.9 % and 149 % cash conversion. Net leverage fell to 0.3x. The stock rose sharply after the report but displayed initial volatility.
Key figures
Revenue
Q2 2026
EUR 1,050M
Net income
Q2 2026
EUR 251M
Gross margin
Q2 2026
62.3%
Price & valuation
Last close
SEK 96.52
1 week
-1.6 %
3 months
+32.8 %
12 months
-11.0 %
From 52w high
-20.1 %
From 52w low
+32.8 %
Exchange
Stockholm
Type
Technology
Sector
Industrial metrology and geospatial software
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.