Sandvik AB (publ) SAND
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Full analysis: 5 Apr 2026
Latest news check: 18 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Hold existing position; consider adding after the Q1 report or on a pullback to a more attractive valuation.
Hold given strong fundamentals (Mining, cash flow, margins).
- Near-term risk from FX drag and softer Machining demand.
- Valuation appears at a premium vs peers, limiting risk-adjusted upside.
Market sentiment
6/10
↓
Trend: Declining
Sentiment has shifted from optimism to short-term disappointment after orders missed elevated expectations despite otherwise strong results.
Risk assessment
5/10
Dilution:
Low
Strong cash flow, no equity raise indicated
Jurisdiction:
Low
Sweden-based, diversified global footprint
Execution:
Medium
Machining restructuring must deliver savings
Recent changes
- Order intake missed consensus but revenue and adjusted EBITA beat; share fell 9.3 %.
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Show all changes (5) — follow the company freeAbout the company
Sandvik AB is a Swedish industrial group supplying equipment, tools, and digital solutions to mining, rock processing, and manufacturing customers. The company is profitable with strong margins and cash generation, but near-term reported results can be pressured by FX headwinds and softer demand in parts of the machining/automotive exposure.
Sector:
Industrial engineering (mining equipment and machining tools)
Type:
Industrial
Next report
22 Oct 2026
Q3
Catalysts
22 Oct 2026
Diemme Filtration acquisition
High
Q3 2026
Q3 report
High
Q4 2026
Capital Markets Day
Medium
Horizon:
Bull case
Strong organic growth, record-high EBITA margin and supportive mining environment provide operating leverage.
Bear case
Orders below expectations and temporary tungsten tailwind may mask underlying margin trends while generating a medium-term sell signal.
Signal rationale (informational)
Hold given strong fundamentals (Mining, cash flow, margins).
- Near-term risk from FX drag and softer Machining demand.
- Valuation appears at a premium vs peers, limiting risk-adjusted upside.
Recent news
- Q2 report on 17 July showed orders at 37 799 MSEK (below consensus) but revenues and adjusted EBITA beat expectations; shares fell 9.3 % to 338.10 SEK. India/USA acquisitions and Mexico order confirmed.
Price & valuation
Last close
SEK 368
1 week
-1.7 %
3 months
+2.2 %
12 months
+55.2 %
From 52w high
-10.6 %
From 52w low
+56.7 %
Exchange
Stockholm
Type
Industrials
Sector
Industrial engineering (mining equipment and machining tools)
This picture changes. Follow Sandvik AB (publ) free — email when the signal or risk changes + a Sunday weekly brief.
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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.