Epiroc AB (publ) (EPI-A) fair value: what the stock is really worth
As of Oct 15, 2026: fair value of Epiroc AB (publ) SEK 138, price SEK 260, upside -46.8%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
60‑month range kr 139.03 – kr 278.20 · fair‑value band kr 87.85 – kr 186.70 · the kr 260.00 price screens above the kr 138.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.
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Epiroc AB (publ), together with its subsidiaries, develops and produces equipment for use in surface and underground applications in North America, South America, Europe, Africa, the Middle East, Asia, Australia, and India. It operates in two segments, Equipment & Service, and Tools & Attachments.
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The Equipment & Service segment offers equipment and solutions for rock drilling, rock excavation, rock reinforcement, loading and haulage, and ventilation systems; drilling equipment for exploration, and water and energy; and related spare parts and services for the mining and infrastructure industries.
This segment also provides digital solutions, such as connectivity, collision avoidance systems, automation, and mine planning, as well as electrification.
Its Tools & Attachments segment offers rock drilling tools, including tophammer, COPROD, down-the hole, rotary and raiseboring; drill string components comprising bits, rods, pipes, shanks, hammers, and other products; rock reinforcement tools, such as rock bolts, mesh, and accessories; and exploration drilling tools.
This segment also provides hydraulic breakers, shears and pulverizers, concrete cutters and busters, quick couplers and thumbs, drum cutters, excavator grapples, excavator magnets, and crusher and screening buckets; ground engaging tools, including teeth, lip shrouds, and protective shrouds; and digital solutions for monitoring, optimization, loss detection and analytics.
In addition, the company offers aftermarket services, such as replacement parts and kits, service agreements and audits, circular services, and custom-engineered solutions, as well as component remanufacturing, midlife upgrades, cost-per-meter contracts, and conversion kits.
The company has a strategic collaboration with Sany Group Company Limited for the development of equipment and technology for mining applications. Epiroc AB (publ) was founded in 1873 and is headquartered in Nacka, Sweden.
Stock analysis
Epiroc AB (publ) (EPI-A) currently trades at kr 260.00, while our model-based Fair Value estimate is kr 138.26, 46.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 147.56 per share, and 0 of the 24 models we run sit above the kr 260.00 price.
Bear case: the Asset-Based group reads lowest at kr 23.41, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 87.85 (bear) to kr 186.70 (bull), the price of kr 260.00 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 70/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Epiroc AB (publ) reported revenue of 62.0B SEK in FY2025 versus 39.6B SEK in FY2021, a compound +11.8%/yr. Reported net income was 8.6B SEK in FY2025, compounding +5.1%/yr from FY2021.
Key figures
Market cap 314B SEK (≈ $31.5B) · P/E ratio 35.6 · P/S ratio 4.95 · EPS (TTM) kr 7.30 · Dividend yield 1.5% · Net margin 13.9% · Return on equity 21.2% · Return on assets (EBIT) 17.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (medium confidence).
What moves the price
The share trades about 7% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −47%, EPI-A screens richer than that median.
Fair Value models
Bearkr 87.85Fair Value kr 138.26Bullkr 186.70
Price kr 260.00 · Upside -46.8%
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 2.76 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.
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.88/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.5%
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.
+7.7%
Revenue growth 5 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.
+11.4%
Start year 2020 (pandemic). Over 10 years: +8.0% a year
Revenue growth 10 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.
+8.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+9.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.8%
Dividend (yield on the price)1.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.8% vs 9.7%, steady
Profit margin 2020 to 2025 ⓘ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.20% → 21%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +17.5% a year for the price and +8.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (33 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Solid financial metrics and aftermarket revenue support a moderate moat through pricing power and cash generation, while limited signals on human capital and innovation leave durable advantage uncertain.
Main risk: Exposure to mining equipment demand cycles would reduce new machinery sales and thereby limit the stabilising contribution of aftermarket services to overall revenue.
Epiroc earns a large share of its revenue from aftermarket services and parts that follow equipment sales. Recent underground orders show how the 2023 acquisition of low-profile machinery expertise opens new mining niches. Does this recurring income provide enough ballast against equipment demand cycles to support the valuation?
Price, fair value, quality and upside side by side.
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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.Farm & Heavy Construction Machinery · 149 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−46.8% · Bottom 25%
Profitability
Return on equity (12 months)21.2% · Top 25%
Return on assets10.7% · Top 25%
Net margin (12 months)14.2% · Top 25%
Operating margin (12 months)19.9% · Top 25%
Growth and dividend
Revenue growth10.4% · Above median
Dividend yield (12 months)1.5% · Below median
Balance sheet
Debt / equity0.35× · Above median
Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper
P/E (12 months)35.6× · Priciest 25%
P/B7.44× · Priciest 25%
P/S (12 months)5.04× · Priciest 25%
Price / free cash flow35.0× · Priciest 25%
EV/EBITDA21.8× · Priciest 25%
PEG2.06× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 41
FUTURE (revenue growth)52· sector 49
PAST (return on equity)85· sector 36
HEALTH (low debt)83· sector 93
DIVIDEND (yield)29· sector 44
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Epiroc AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/EPI-A
Frequently asked questions
Is Epiroc AB (publ) (EPI-A) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 138.26 versus a price of kr 260.00, about −47% upside (overvalued).
What is the fair value of EPI-A?
Our model-based fair value for Epiroc AB (publ) is kr 138.26 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 260.00.
What is the quality score of EPI-A?
Epiroc AB (publ) has a Quality Score of 70/100. 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 Epiroc AB (publ) (EPI-A)?
Our model-based price target is the fair value of kr 138.26 (as of Oct 13, 2026) from 24 valuation models. Cautious scenario kr 87.85, optimistic scenario kr 186.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Epiroc AB (publ) stock forecast for 2026?
Our models put fair value at kr 138.26, about −47% upside versus a price of kr 260.00 (overvalued). Cautious scenario kr 87.85, optimistic scenario kr 186.70. The calculation is refreshed regularly with new filings.
What is the revenue of Epiroc AB (publ) (EPI-A)?
Epiroc AB (publ) reported trailing-twelve-month revenue of about 62.4B SEK (latest available figure, as of Oct 13, 2026).
Does Epiroc AB (publ) pay a dividend?
Epiroc AB (publ) currently shows a dividend yield of about 1.46% relative to its recent price (as of Oct 13, 2026).
What growth is priced into Epiroc AB (publ) (EPI-A)?
For today's price to be fair in a discounted-cash-flow model, Epiroc AB (publ) would have to grow free cash flow by +19.8 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.4 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of EPI-A use?
Our models discount Epiroc AB (publ) at 9.5 %: a base by market capitalisation (large), damped by beta 1.23, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Epiroc AB (publ) that is +19.8 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Epiroc AB (publ) (EPI-A) delivered so far?
Over the past 5 years revenue at Epiroc AB (publ) grew +11.4 % a year. The price currently implies +19.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Epiroc AB (publ) (EPI-A) growing?
The median revenue growth in the sector is +7.4 % a year. That is the yardstick for the growth priced into Epiroc AB (publ) (+19.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Epiroc AB (publ) (EPI-A)?
The free-cash-flow yield on the price is 2.86 %: that much free cash flow Epiroc AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Epiroc AB (publ) (EPI-A)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Epiroc AB (publ) it is kr 138.26 per share (as of Oct 13, 2026), against a price of kr 260.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Epiroc AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, EPI-A trades above its calculated fair value: price kr 260.00, fair value kr 138.26, a gap of about −47% (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 EPI-A?
No. The price is what the market pays today (kr 260.00); the fair value is what the company's own numbers justify (kr 138.26). For Epiroc AB (publ) the two are kr 121.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Epiroc AB (publ) worth?
The market values Epiroc AB (publ) at about 314B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 260.00; our models calculate a fair value of kr 138.26 per share.
What do the bullish and bearish scenarios say about EPI-A?
Our models span a range for Epiroc AB (publ): cautious scenario kr 87.85, base kr 138.26, optimistic kr 186.70 per share (as of Oct 13, 2026, price kr 260.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EPI-A?
Epiroc AB (publ) trades at a price-to-earnings ratio of 35.6 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 138.26 is built from several models across several years. Other multiples: PEG 2.1, P/B 7.4, P/S 5.0, EV/EBITDA 21.8.
What is the PEG ratio of EPI-A?
The PEG ratio of Epiroc AB (publ) is 2.06 (P/E divided by earnings growth, as of Oct 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Epiroc AB (publ) (EPI-A)?
Balance-sheet figures for Epiroc AB (publ) (as of Oct 13, 2026): return on equity 21.2%, debt of 0.35 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is EPI-A from its 52-week high?
Epiroc AB (publ) trades at kr 260.00, about 7% below its 52-week high of kr 278.20 and 39% above the low of kr 187.69 (as of Oct 15, 2026). Distance from the high says nothing about value: that is what the fair value of kr 138.26 is for.
Which stocks are comparable to Epiroc AB (publ)?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, 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 Epiroc AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 260.00, calculated fair value kr 138.26 (−47%), Quality Score 70/100, from 24 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 EPI-A calculated?
We run Epiroc AB (publ) through 24 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 138.26, 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 14.7 % above its aggregate fair value. Epiroc AB (publ) 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 Epiroc AB (publ) (EPI-A)?
The closing price on Oct 15, 2026 was kr 260.00. Our model-based fair value is kr 138.26, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Epiroc AB (publ) right now?
A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (kr 186.70). The favourable scenario is already priced in. A fairly wide model range (kr 87.85 to kr 186.70) leaves room in how you read the outcome.
Where does the earnings growth of Epiroc AB (publ) (EPI-A) come from?
Earnings per share at Epiroc AB (publ) grew +12.0 % a year from 2015 to 2025. Broken into its drivers: revenue per share +9.9 %, EBIT margin +2.0 %, tax rate +0.6 %, residual (interest, one-offs) −0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Epiroc AB (publ)
How large is the market capitalisation of Epiroc AB (publ) (EPI-A)?
The market capitalisation of Epiroc AB (publ) is 314B SEK (≈ $31.5B). 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 Epiroc AB (publ) (EPI-A)?
The price-to-sales ratio of Epiroc AB (publ) is 4.95 (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 Epiroc AB (publ) (EPI-A)?
Earnings per share at Epiroc AB (publ) are kr 7.30 (price ÷ EPS = P/E 35.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Epiroc AB (publ) (EPI-A)?
The dividend yield of Epiroc AB (publ) is 1.5% (payout 52.1%). 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 Epiroc AB (publ) (EPI-A)?
The net margin of Epiroc AB (publ) is 13.9% (fiscal year 2025). 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 Epiroc AB (publ) (EPI-A)?
The return on equity (ROE) of Epiroc AB (publ) is 21.2% (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 Epiroc AB (publ) (EPI-A)?
On an EBIT basis the return on assets of Epiroc AB (publ) is 17.3% (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 Epiroc AB (publ) (EPI-A)?
The operating margin of Epiroc AB (publ) is 19.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Epiroc AB (publ) (EPI-A)?
Revenue at Epiroc AB (publ) is growing +10.4% versus a year earlier (3y avg +7.7%). 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 Epiroc AB (publ) (EPI-A)?
Earnings per share at Epiroc AB (publ) are growing +15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Epiroc AB (publ) (EPI-A) carry?
The net debt of Epiroc AB (publ) is 11.4B SEK (fiscal year 2025, ≈ 1.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 13, 2026