Skanska AB (SKA-B) Fair Value & Analysis
Industrials · SE · Market cap 104B SEK (≈ $10.9B) · ISIN SE0000113250
What is Skanska AB really worth?
A solid business, but trading 19% above our fair value of kr 229.11.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 22 valuation models · updated 2 days ago
Share price −0.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- 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 156.41 to kr 305.77) 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 Sep 3, 2026.
How to read this chart
60‑month range kr 112.85 – kr 275.40 · fair‑value band kr 156.41 – kr 305.77 · the kr 271.90 price screens above the kr 229.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Analysis
Skanska AB (SKA-B) currently trades at kr 271.90, while our model-based Fair Value estimate is kr 229.11, implying the stock looks roughly 18.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 245.67 per share, and 4 of the 22 models we run sit above the kr 271.90 price. Bear case: the Asset-Based group reads lowest at kr 104.87, and 18 of the 22 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Skanska AB generated revenue of 172B SEK at a net margin of 3.3%. Revenue declined 10.0% year over year. It earns a return on equity of 9.7%. Net debt stands at 5.4B SEK. Fundamentals as of Sep 3, 2026
Our scenario range runs from kr 156.41 (bear case) to kr 305.77 (bull case); at kr 271.90, the current price sits within 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. The share trades near its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −16%, SKA-B screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 22 models by family
Widest divergence: Multiples (kr 245.67) versus Asset-Based (kr 104.87). Highest evidence: FCF DCF (81).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 68
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
Skanska AB (publ) operates as a construction and project development company in the Nordics, Europe, and the United States. It operates through four segments: Construction, Residential Development, Commercial Property Development, and Investment Properties.
Full company description
Skanska AB (publ) operates as a construction and project development company in the Nordics, Europe, and the United States. It operates through four segments: Construction, Residential Development, Commercial Property Development, and Investment Properties. The Construction segment builds social infrastructure, including schools, hospitals, healthcare, and judicial buildings; mass transit comprising rails, subways, and airports; highways, bridges, and tunnels; data centers and advanced tech manufacturing buildings/facilities; energy; defense-related buildings and infrastructure; offices, manufacturing, and other commercial buildings; and residential multifamily buildings. Its Residential Development segment develops and builds single and multifamily homes. The Commercial Property Development segment initiates, develops, leases, and divests in offices, life-science, and logistics and commercial warehouses, as well as residential rental properties. Its Investment Properties segment invests and manages office properties. The company was formerly known as Skånska Cementgjuteriet and changed its name to Skanska AB (publ) in December 1983. Skanska AB (publ) was founded in 1887 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Skanska AB reported revenue of 177B SEK in FY2025 versus 144B SEK in FY2021, a compound +5.3%/yr. Reported net income was 5.7B SEK in FY2025, compounding −4.5%/yr from FY2021.
of which total revenue +1.8 % · buybacks/dilution +0.0 %
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).
SKA-B screens 19% overvalued. Compare with Quanta Services, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Skanska to expand traffic corridor in Del Mar, California, USA, for USD 57M, about SEK 530M
- Skanska to build data center near Prague, Czechia, for CZK 2.1 billion, about SEK 930M
- Skanska to build datacenter near Prague, Czechia, for CZK 2.1 billion, about SEK 930M
- Skanska (OM:SKA B) Lands Four Data Centers, Is It Still Below Fair Value?
Peer Group
Engineering & Construction · 817 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 Engineering & Construction median · lower = cheaper
Strength profile in five axes (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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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