Hexagon AB (HXGBY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Hexagon AB $7.55, price $10.09, upside -25.2%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range $6.34 – $13.68 · fair‑value band $4.72 – $9.44 · the $10.09 price screens above the $7.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Hexagon AB (publ) provides geospatial and industrial enterprise solutions worldwide. It operates in Manufacturing Intelligence, Geosystems, Autonomous Solutions and Octave segments.
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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.
Stock analysis
Hexagon AB ADR (HXGBY) currently trades at $10.09, while our model-based Fair Value estimate is $7.55, 25.2% 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 $7.49 per share, and 3 of the 26 models we run sit above the $10.09 price.
Bear case: the Earnings-Based group reads lowest at $1.90, and 23 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $4.72 (bear) to $9.44 (bull), the price of $10.09 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 64/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hexagon AB ADR 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.
Key figures
Market cap $27.3B · P/E ratio 9.6 · P/S ratio 1.10 · EPS (TTM) $0.8800 · Dividend yield 1.4% · Net margin 11.4% · Return on equity 17.9% · Return on assets (EBIT) 7.2%.
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 5% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −37% fair-value upside, at −25%, HXGBY screens cheaper than that median.
Fair Value models
Bear $4.72Fair Value $7.55Bull $9.44
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 ($0.5596 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.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.
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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.4%
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.
+1.7%
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.
+7.6%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 23 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.
+8.9%
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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. Basis: EBIT basis.
+2.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.5%
Dividend (yield on the price)1.4%
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.−3.6% vs 1.4%, slowing
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.21% → 19%
Start year 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).
+12.7%
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.
+0.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +10.3% a year for the price and −1.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 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.Positive
Recent news coverage is more positive than average.
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.Scientific & Technical Instruments · 154 stocks
P/B2.30× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)4.34× · Pricier than median
P/FCF23.0× · Cheaper than median
EV/EBITDA19.8× · Pricier than median
PEG0.68× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)1· sector 31
PAST (return on equity)72· sector 24
HEALTH (low debt)89· sector 98
DIVIDEND (yield)28· sector 18
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). "Hexagon AB ADR Fair Value". https://www.fairvalue-calculator.com/stock/HXGBY
Frequently asked questions
Is Hexagon AB (HXGBY) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of $7.55 versus a price of $10.09, about −25% upside (overvalued).
What is the fair value of HXGBY?
Our model-based fair value for Hexagon AB ADR is $7.55 (as of Oct 2, 2026), built from audited fundamentals. The current price: $10.09.
What is the quality score of HXGBY?
Hexagon AB ADR has a Quality Score of 64/100. 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 Hexagon AB (HXGBY)?
Our model-based price target is the fair value of $7.55 (as of Oct 2, 2026) from 26 valuation models. Cautious scenario $4.72, optimistic scenario $9.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Hexagon AB ADR stock forecast for 2026?
Our models put fair value at $7.55, about −25% upside versus a price of $10.09 (overvalued). Cautious scenario $4.72, optimistic scenario $9.44. The calculation is refreshed regularly with new filings.
What is the revenue of Hexagon AB (HXGBY)?
Hexagon AB ADR reported trailing-twelve-month revenue of about €5.4B (latest available figure, as of Oct 2, 2026).
Does Hexagon AB ADR pay a dividend?
Hexagon AB ADR currently shows a dividend yield of about 1.39% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Hexagon AB (HXGBY)?
For today's price to be fair in a discounted-cash-flow model, Hexagon AB ADR would have to grow free cash flow by +12.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.6 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of HXGBY use?
Our models discount Hexagon AB ADR at 8.9 %: a base by market capitalisation (large), damped by beta 0.85, country premium for USA. 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 Hexagon AB ADR that is +12.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Hexagon AB (HXGBY) delivered so far?
Over the past 5 years revenue at Hexagon AB ADR grew +7.6 % a year. The price currently implies +12.7 % 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 Hexagon AB (HXGBY) growing?
The median revenue growth in the sector is +10.3 % a year. That is the yardstick for the growth priced into Hexagon AB ADR (+12.7 % 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 Hexagon AB (HXGBY)?
The free-cash-flow yield on the price is 4.22 %: that much free cash flow Hexagon AB ADR produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hexagon AB (HXGBY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hexagon AB ADR it is $7.55 per share (as of Oct 2, 2026), against a price of $10.09. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hexagon AB ADR stock overvalued or undervalued in 2026?
As of Oct 2, 2026, HXGBY trades above its calculated fair value: price $10.09, fair value $7.55, a gap of about −25% (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 HXGBY?
No. The price is what the market pays today ($10.09); the fair value is what the company's own numbers justify ($7.55). For Hexagon AB ADR the two are $2.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hexagon AB ADR worth?
The market values Hexagon AB ADR at about $27.3B (market capitalisation, as of Oct 2, 2026). Per share that is $10.09; our models calculate a fair value of $7.55 per share.
What do the bullish and bearish scenarios say about HXGBY?
Our models span a range for Hexagon AB ADR: cautious scenario $4.72, base $7.55, optimistic $9.44 per share (as of Oct 2, 2026, price $10.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HXGBY?
Hexagon AB ADR trades at a price-to-earnings ratio of 9.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $7.55 is built from several models across several years. Other multiples: PEG 0.7, P/B 2.3, P/S 4.3, EV/EBITDA 19.8.
What is the PEG ratio of HXGBY?
The PEG ratio of Hexagon AB ADR is 0.68 (P/E divided by earnings growth, as of Oct 2, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Hexagon AB (HXGBY)?
Balance-sheet figures for Hexagon AB ADR (as of Oct 2, 2026): return on equity 17.9%, debt of 0.22 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is HXGBY from its 52-week high?
Hexagon AB ADR trades at $10.09, about 5% below its 52-week high of $10.67 and 32% above the low of $7.62 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $7.55 is for.
Which stocks are comparable to Hexagon AB ADR?
From the same area (Technology) we also value Keysight Technologies, Inc, Coherent Corp, Garmin Ltd, Chroma ATE Inc, 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 Hexagon AB ADR stock attractive at the current price?
The data as of Oct 2, 2026: price $10.09, calculated fair value $7.55 (−25%), Quality Score 64/100, from 26 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 HXGBY calculated?
We run Hexagon AB ADR through 26 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 $7.55, 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. Hexagon AB ADR 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 Hexagon AB (HXGBY)?
The closing price on Oct 2, 2026 was $10.09. Our model-based fair value is $7.55, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hexagon AB ADR right now?
The price sits above even our optimistic bull case ($9.44). 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 ($4.72 to $9.44) leaves room in how you read the outcome.
Where does the earnings growth of Hexagon AB (HXGBY) come from?
Earnings per share at Hexagon AB ADR grew +5.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.2 %, EBIT margin +0.3 %, tax rate +0.1 %, residual (interest, one-offs) −1.3 %. 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 Hexagon AB ADR
How large is the market capitalisation of Hexagon AB (HXGBY)?
The market capitalisation of Hexagon AB ADR is $27.3B. 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 Hexagon AB (HXGBY)?
The price-to-sales ratio of Hexagon AB ADR is 1.10 (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 Hexagon AB (HXGBY)?
Earnings per share at Hexagon AB ADR are $0.8800 (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hexagon AB (HXGBY)?
The dividend yield of Hexagon AB ADR is 1.4% (payout 15.9%). 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 Hexagon AB (HXGBY)?
The net margin of Hexagon AB ADR is 11.4% (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 Hexagon AB (HXGBY)?
The return on equity (ROE) of Hexagon AB ADR 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 Hexagon AB (HXGBY)?
On an EBIT basis the return on assets of Hexagon AB ADR is 7.2% (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 Hexagon AB (HXGBY)?
The operating margin of Hexagon AB ADR is 24.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hexagon AB (HXGBY)?
Revenue at Hexagon AB ADR is growing +0.2% versus a year earlier (3y avg +1.7%). 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 Hexagon AB (HXGBY)?
Earnings per share at Hexagon AB ADR are growing +744% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hexagon AB (HXGBY) carry?
The net debt of Hexagon AB ADR is €3.5B (fiscal year 2025, ≈ 3.4 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 2, 2026