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Sandvik AB (0HC0) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Sandvik AB SEK 139, price SEK 363, upside -61.8%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Industrials · GB · Home Sweden · ISIN SE0000667891

SA Thin data Oct 3, 2026

Sandvik AB

0HC0 · LSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value kr 138.71 · Strongly overvalued (−61.8%)
✓Quality 60/100
!Weak Growth (revenue 3y −0.3 %/yr)
✓Solidly profitable · 13.1% net margin (TTM)
✓Low debt
✓1.7% dividend yield · Well covered
!Moderate moat 64/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 411.90 kr 134.18 Fair Value kr 138.71 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range kr 134.18 – kr 411.90 · fair‑value band kr 88.08 – kr 192.92 · the kr 363.05 price screens above the kr 138.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide.

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Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms. It provides cutting tools and tooling systems, and digital solutions and software; metal powder for additive manufacturing, and products made from controlled expansion alloys; and tungsten powders, as well as recycling services of secondary tungsten raw materials. It serves aerospace, automotive, mining, general engineering, infrastructure, and other industries. Sandvik AB (publ) was founded in 1862 and is headquartered in Stockholm, Sweden.

Stock analysis

Sandvik AB (0HC0) currently trades at kr 363.05, while our model-based Fair Value estimate is kr 138.71, 61.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 195.97 per share, and 0 of the 23 models we run sit above the kr 363.05 price.

Bear case: the Asset-Based group reads lowest at kr 41.23, and 23 of the 23 models stay below the price. Evidence for this calculation is low.

Scenario range: kr 88.08 (bear) to kr 192.92 (bull), the price of kr 363.05 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 60/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Sandvik AB reported revenue of 99.1B SEK in FY2021 versus 90.8B SEK in FY2017, a compound +2.2%/yr. Reported net income was 14.5B SEK in FY2021, compounding +2.4%/yr from FY2017.

Key figures

Market cap 219B SEK (≈ $21.8B) · P/E ratio 0.1 · P/S ratio 0.02 · EPS (TTM) kr 12.34 · Dividend yield 1.7% · Net margin 14.6% · Return on equity 17.9% · Return on assets (EBIT) 13.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

The share trades about 12% below its 52-week high and 40% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −62%, 0HC0 screens richer than that median.

Fair Value models

Bear kr 88.08 Fair Value kr 138.71 Bull kr 192.92
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF kr 72.51 kr 105.93 kr 158.33 76
Growth DCF kr 75.56 kr 107.55 kr 155.07 75
EPV kr 91.02 kr 108.45 kr 123.69 74
All 23 models by family
DCF Models
FCF DCF kr 72.51 kr 105.93 kr 158.33 76
5Y Revenue Exit kr 76.63 kr 121.45 kr 179.82 69
5Y EBITDA Exit kr 121.77 kr 199.61 kr 291.57 71
5Y P/E Exit kr 117.54 kr 192.29 kr 271.03 67
10Y Revenue Exit kr 71.53 kr 110.80 kr 157.34 63
10Y EBITDA Exit kr 102.22 kr 162.90 kr 234.98 65
10Y P/E Exit kr 99.61 kr 158.02 kr 220.71 61
Earnings-Based
Graham-Dodd kr 78.39 kr 152.61 kr 190.86 63
EPV kr 91.02 kr 108.45 kr 123.69 74
Dividend Discount
Gordon GGM kr 43.59 kr 60.99 kr 78.77 66
DDM Multi-Stage kr 43.59 kr 60.88 kr 81.10 64
Multiples
P/E Multiple kr 181.56 kr 242.08 kr 302.60 63
P/S Multiple kr 118.51 kr 158.01 kr 197.52 58
P/B Multiple kr 146.98 kr 195.97 kr 244.96 55
EV/EBIT kr 176.08 kr 239.28 kr 302.48 66
EV/EBITDA kr 175.77 kr 238.87 kr 301.97 67
EV/Revenue kr 86.02 kr 128.69 kr 171.35 53
Asset-Based
NCAV (Graham) kr 30.77 kr 41.23 kr 61.54 54
Growth DCF
Growth DCF kr 75.56 kr 107.55 kr 155.07 75
Rev-Margin DCF kr 76.63 kr 122.65 kr 173.87 69
Economic Profit
Residual Income kr 71.91 kr 87.10 kr 122.58 72
ROIC Compounder kr 93.36 kr 115.72 kr 139.27 69
Growth Earnings
Growth-Adj P/E kr 130.70 kr 186.71 kr 242.72 65

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Quality Score breakdown

Overall quality 60/100

Of which business quality 57 · Market factors (momentum, volatility) 55

Profitability 56
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+14.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
19.9% (2017) → 18.8% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0HC0 screens overvalued: fair value 62% below the price. Compare with GE Vernova Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 789 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 60 · Above median
Profitability
Return on equity (TTM) 17.9% · Top 25%
Return on assets 8.1% · Top 25%
Net margin (TTM) 13.1% · Top 25%
Operating margin (TTM) 19.7% · Top 25%
Growth and dividend
Revenue growth 23.7% · Top 25%
Dividend yield (TTM) 1.7% · Above median
Balance sheet
Debt / equity 0.40× · Highest 25%

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 0.1× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $950.49 $142.61 −85%
SIE SIE €271.90 €150.42 −45%
Eaton Corporation ETN $433.27 $173.12 −60%
Parker-Hannifin Corporation PH $970.37 $494.81 −49%
Emerson Electric Co EMR $155.10 $62.54 −60%
Illinois Tool Works Inc ITW $257.28 $153.33 −40%
Cummins Inc CMI $516.57 $359.11 −30%
AMETEK, Inc AME $250.74 $125.77 −50%
Rockwell Automation, Inc ROK $442.45 $139.31 −69%
Schindler Holding SCHN CHF 254.50 CHF 184.22 −28%

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Sandvik AB · Fair Value
kr 138.71 −62%Fair Value
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Cite: Fair Value Calculator (2026). "Sandvik AB Fair Value". https://www.fairvalue-calculator.com/stock/0HC0

Frequently asked questions

Is Sandvik AB (0HC0) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 138.71 versus a price of kr 363.05, about −62% upside (overvalued).
What is the fair value of 0HC0?
Our model-based fair value for Sandvik AB is kr 138.71 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 363.05.
What is the quality score of 0HC0?
Sandvik AB has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sandvik AB (0HC0)?
Our model-based price target is the fair value of kr 138.71 (as of Oct 3, 2026) from 23 valuation models. Cautious scenario kr 88.08, optimistic scenario kr 192.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Sandvik AB stock forecast for 2026?
Our models put fair value at kr 138.71, about −62% upside versus a price of kr 363.05 (overvalued). Cautious scenario kr 88.08, optimistic scenario kr 192.92. The calculation is refreshed regularly with new filings.
What is the revenue of Sandvik AB (0HC0)?
Sandvik AB reported trailing-twelve-month revenue of about 129B SEK (latest available figure, as of Oct 3, 2026).
Does Sandvik AB pay a dividend?
Sandvik AB currently shows a dividend yield of about 1.65% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Sandvik AB (0HC0)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sandvik AB it is kr 138.71 per share (as of Oct 3, 2026), against a price of kr 363.05. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Sandvik AB stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0HC0 trades above its calculated fair value: price kr 363.05, fair value kr 138.71, a gap of about −62% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0HC0?
No. The price is what the market pays today (kr 363.05); the fair value is what the company's own numbers justify (kr 138.71). For Sandvik AB the two are kr 224.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sandvik AB worth?
The market values Sandvik AB at about 219B SEK (market capitalisation, as of Oct 3, 2026). Per share that is kr 363.05; our models calculate a fair value of kr 138.71 per share.
What do the bullish and bearish scenarios say about 0HC0?
Our models span a range for Sandvik AB: cautious scenario kr 88.08, base kr 138.71, optimistic kr 192.92 per share (as of Oct 3, 2026, price kr 363.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0HC0?
Sandvik AB trades at a price-to-earnings ratio of 0.1 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 138.71 is built from several models across several years.
How solid is the balance sheet of Sandvik AB (0HC0)?
Balance-sheet figures for Sandvik AB (as of Oct 3, 2026): return on equity 17.9%, debt of 0.40 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 0HC0 from its 52-week high?
Sandvik AB trades at kr 363.05, about 12% below its 52-week high of kr 411.90 and 40% above the low of kr 259.57 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 138.71 is for.
Which stocks are comparable to Sandvik AB?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sandvik AB stock attractive at the current price?
The data as of Oct 3, 2026: price kr 363.05, calculated fair value kr 138.71 (−62%), Quality Score 60/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0HC0 calculated?
We run Sandvik AB through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 138.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Sandvik AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sandvik AB (0HC0)?
The closing price on Oct 2, 2026 was kr 363.05. Our model-based fair value is kr 138.71, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sandvik AB right now?
The price sits above even our optimistic bull case (kr 192.92). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 88.08 to kr 192.92) leaves room in how you read the outcome.

Key figures of Sandvik AB

How large is the market capitalisation of Sandvik AB (0HC0)?
The market capitalisation of Sandvik AB is 219B SEK (≈ $21.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sandvik AB (0HC0)?
The price-to-sales ratio of Sandvik AB is 0.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sandvik AB (0HC0)?
Earnings per share at Sandvik AB are kr 12.34 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sandvik AB (0HC0)?
The dividend yield of Sandvik AB is 1.7% (payout 48.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Sandvik AB (0HC0)?
The net margin of Sandvik AB is 14.6% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sandvik AB (0HC0)?
The return on equity (ROE) of Sandvik AB is 17.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sandvik AB (0HC0)?
On an EBIT basis the return on assets of Sandvik AB is 13.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sandvik AB (0HC0)?
The operating margin of Sandvik AB is 19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sandvik AB (0HC0)?
Revenue at Sandvik AB is growing +23.7% versus a year earlier (3y avg −0.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sandvik AB (0HC0)?
Earnings per share at Sandvik AB are growing +62.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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