Hexagon AB HEXA B

Stockholm | Technology | Industrial metrology and geospatial software
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Updated: 24 Oct 2026 Base analysis: 5 Apr 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Clear

Hold existing position; consider adding after a strong Q1 print or clearer spin-off terms.

Strong organic growth, margin expansion and new acquisitions bolster the long-term case, yet uncertainty around cyclical end-markets warrants continued caution.

Market sentiment Positive ↑
Trend: Improving

The market reacts positively to beat expectations, margin expansion and new acquisitions.

Risk assessment Medium
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

HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.

Latest change
  • 24 Oct 2026 — Report showed strong organic growth and profit turnaround driven by order intake in Manufacturing Intelligence and Autonomous Solutions.

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About 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 (Q4)
28 Jan 2027
Catalysts
●
28 Jan 2027
Q4 2026 earnings release High
◦
Date TBA
Rocscience acquisition closes
Bull case

Strong order intake in Manufacturing Intelligence and Autonomous Solutions plus full cost-saving effects from Q4 2026 provide upside.

Bear case

Weakness in automotive, agriculture and construction in EMEA together with negative currency effects may continue to dampen demand and margins.

Why this signal

Strong organic growth, margin expansion and new acquisitions bolster the long-term case, yet uncertainty around cyclical end-markets warrants continued caution.

Recent news
  • Hexagon released its Q3 report on 23 October showing 13% organic growth, strong order intake and a swing to profit. The company signed an agreement to acquire Rocscience for USD 535 million, strengthening the Radar & Monitoring division. The share rose 3.92% to 106.05 SEK on the report day.

Key figures

Revenue
Q3 2026
EUR 1.0B
Revenue TTM
9M 2026
EUR 3.1B
EBITDA
Q3 2026
EUR 370M
Net income
Q3 2026
EUR 446M
Gross margin
Q3 2026
61.6%
Exchange
Stockholm
Type
Technology
Sector
Industrial metrology and geospatial software
Hexagon AB HEXA B
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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.