Hexagon AB (HEXA-B) Fair Value & Analysis
Technology · SE · Market cap 214B SEK (≈ $22.3B) · ISIN SE0015961909
Strengths
Risks
Fair value as of: Aug 20, 2026
From 24 valuation models · updated 11 days ago
Fair value updated Aug 20, 2026, revised from kr 73.99 to kr 74.09 (+0.1%) since Aug 13, 2026. Share price +4.7% over the past month.
A solid business, but trading 36% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 92.62). The favourable scenario is already priced in.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 45.34 to kr 92.62) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range kr 72.66 – kr 143.04 · fair‑value band kr 45.34 – kr 92.62 · the kr 100.45 price screens above the kr 74.09 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Hexagon AB (HEXA-B) currently trades at kr 100.45, while our model-based Fair Value estimate is kr 74.09, implying the stock looks roughly 26.2% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Hexagon AB generated revenue of 5.4B SEK at a net margin of 37.5%. Revenue grew 0.2% year over year. It earns a return on equity of 17.9%. Net debt stands at 3.5B SEK. Fundamentals as of Aug 20, 2026
Our scenario range runs from kr 45.34 (bear case) to kr 92.62 (bull case); at kr 100.45, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 17% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -26%, HEXA-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 4.76 SEK per share, which is 6.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models (kr 6.54) versus Earnings-Based (kr 1.69). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Hexagon AB (publ) provides geospatial and industrial enterprise solutions worldwide. It operates in Manufacturing Intelligence, Geosystems, Autonomous Solutions and Octave segments.
Full company description
Hexagon AB (publ) provides geospatial and industrial enterprise solutions worldwide. It operates in Manufacturing Intelligence, Geosystems, Autonomous Solutions and Octave segments. The company provides autonomy and perception, enterprise software for farms, GNSS positioning, and machine control; airborne and mobile mapping, geospatial content, laser scanning, ERIDAA imagin, lucaid, and M.app enterprise; and asset lifecycle information management, design and visualization, engineering and schematics, enterprise project performance, operations and maintenance, OT/ICS cyber security, and smart digital reality, as well as procurement, fabrication, and construction services. It offers automated measurement systems, CAD/CAM and production software, CAE software, coordinate measuring machines, metrology software, portable measuring systems, quality assurance software, and service and support services. In addition, the company provides evaluation, planning and design; drill and blast; load and haul; mine survey and monitoring; processing; reclamation; operational safety; autonomous operations; and multi-senor technology insights services. Further, it offers anti-jam systems, anti-jam systems, correction services, GNSS and SMART antennas, GNSS/INS receivers and post processing, resilience and integrity technology, and visualization software; HxGN Oncall, Connect, and dC3; forensics and investigations; and AEC software, documentation and verification solutions, total stations, GNNS systems, survey software, detection systems, digital realities platform, monitoring solutions, and airborne solutions. It serves agriculture, geospatial, industrial asset lifecycle, manufacturing, mining, positioning, safety, security, and surveillance industries. The company was founded in 1975 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hexagon AB reported revenue of €5.4B in FY2025 versus €4.3B in FY2021, a compound +5.7%/yr. Reported net income was €617M in FY2025, compounding −6.3%/yr from FY2021.
of which total revenue +7.0 % · buybacks/dilution −0.8 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
HEXA-B screens 36% overvalued. Compare with Keysight Technologies, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Hexagon AB (HXGBF) Q2 2026 Earnings Call Highlights: Strong Organic Growth and Impressive Cash ...
- Hexagon Interim Report 1 January - 30 June 2026
Peer Group
Scientific & Technical Instruments · 171 stocks
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.
Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Keysight Technologies, Inc KEYS | $316.13 | $107.22 | -66% |
| Garmin Ltd GRMN | $309.98 | $139.44 | -55% |
| Teledyne Technologies Incorporated TDY | $633.56 | $488.95 | -23% |
| Chroma ATE Inc 2360 | 2,195 TWD | 322.57 TWD | -85% |
| MKS Inc MKSI | $281.60 | $76.00 | -73% |
| AVIC Chengdu Aircraft Company 302132 | ¥60.00 | ¥24.39 | -59% |
| Fortive Corporation FTV | $61.54 | $33.48 | -46% |
| Trimble Inc TRMB | $56.99 | $34.12 | -40% |
| Cognex Corporation CGNX | $61.72 | $19.25 | -69% |
| Wuhan Guide Infrared Co 002414 | ¥13.99 | ¥4.50 | -68% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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