Skanska AB ser. (SKBSY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Skanska AB ser. $22.80, price $28.45, upside -19.9%, quality 60 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 Sep 23, 2026.
How to read this chart
60‑month range $9.97 – $29.33 · fair‑value band $16.02 – $30.23 · the $28.45 price screens above the $22.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Skanska AB ser. B ADR (SKBSY) currently trades at $28.45, while our model-based Fair Value estimate is $22.80, implying the stock looks roughly 24.8% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $215.27 per share, and 24 of the 24 models we run sit above the $28.45 price.
Bear case: the Dividend Discount group reads lowest at $95.52, and 0 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $16.02 (bear) to $30.23 (bull), the price of $28.45 sits inside 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.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Skanska AB ser. B ADR 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.
Key figures
Market cap $11.8B · P/E ratio 18.3 · P/S ratio 0.59 · EPS (TTM) $1.44 · Dividend yield 5.7% · Net margin 3.2% · Return on equity 9.7% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 3% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −20%, SKBSY screens cheaper than that median.
Fair Value models
Bear $16.02Fair Value $22.80Bull $30.23
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 ($1.05 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.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.57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.1%
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.
+2.7%
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.
+2.0%
Start year 2020 (pandemic). Over 10 years: +1.4% 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.
+1.0%
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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.
+2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.6%
Dividend (yield on the price)5.7%
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.−4% vs 2%, 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.8% → 3%
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).
+9.0%
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.
+5.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in SEK, Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +6.9% a year for the price and +3.1% 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.Engineering & Construction · 844 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside−20% · Below median
Profitability
Return on equity (TTM)10% · Above median
Return on assets2% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)0% · Below median
Growth and dividend
Revenue growth−10% · Below median
Dividend yield (TTM)5.7% · Top 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Skanska AB ser. B ADR Fair Value". https://www.fairvalue-calculator.com/stock/SKBSY
Frequently asked questions
Is Skanska AB ser. (SKBSY) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $22.80 versus a price of $28.45, about −20% upside (overvalued).
What is the fair value of SKBSY?
Our model-based fair value for Skanska AB ser. B ADR is $22.80 (as of Sep 23, 2026), built from audited fundamentals. The current price: $28.45.
What is the quality score of SKBSY?
Skanska AB ser. B ADR 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 Skanska AB ser. (SKBSY)?
Our model-based price target is the fair value of $22.80 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario $16.02, optimistic scenario $30.23. It is a calculation from audited fundamentals, not an analyst target.
What is the Skanska AB ser. B ADR stock forecast for 2026?
Our models put fair value at $22.80, about −20% upside versus a price of $28.45 (overvalued). Cautious scenario $16.02, optimistic scenario $30.23. The calculation is refreshed regularly with new filings.
What is the revenue of Skanska AB ser. (SKBSY)?
Skanska AB ser. B ADR reported trailing-twelve-month revenue of about 183B SEK (latest available figure, as of Sep 23, 2026).
Does Skanska AB ser. B ADR pay a dividend?
Skanska AB ser. B ADR currently shows a dividend yield of about 5.69% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Skanska AB ser. (SKBSY)?
For today's price to be fair in a discounted-cash-flow model, Skanska AB ser. B ADR would have to grow free cash flow by +9.0 % 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 +2.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of SKBSY use?
Our models discount Skanska AB ser. B ADR at 8.9 %: a base by market capitalisation (large), damped by beta 0.86, 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 Skanska AB ser. B ADR that is +9.0 % 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 Skanska AB ser. (SKBSY) delivered so far?
Over the past 5 years revenue at Skanska AB ser. B ADR grew +2.0 % a year. The price currently implies +9.0 % 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 Skanska AB ser. (SKBSY) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Skanska AB ser. B ADR (+9.0 % 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 Skanska AB ser. (SKBSY)?
The free-cash-flow yield on the price is 3.82 %: that much free cash flow Skanska AB ser. B 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 Skanska AB ser. (SKBSY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Skanska AB ser. B ADR it is $22.80 per share (as of Sep 23, 2026), against a price of $28.45. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Skanska AB ser. B ADR stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SKBSY trades above its calculated fair value: price $28.45, fair value $22.80, a gap of about −20% (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 SKBSY?
No. The price is what the market pays today ($28.45); the fair value is what the company's own numbers justify ($22.80). For Skanska AB ser. B ADR the two are $5.65 per share apart. That gap is exactly why we show both numbers side by side.
How much is Skanska AB ser. B ADR worth?
The market values Skanska AB ser. B ADR at about $11.8B (market capitalisation, as of Sep 23, 2026). Per share that is $28.45; our models calculate a fair value of $22.80 per share.
What do the bullish and bearish scenarios say about SKBSY?
Our models span a range for Skanska AB ser. B ADR: cautious scenario $16.02, base $22.80, optimistic $30.23 per share (as of Sep 23, 2026, price $28.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SKBSY?
Skanska AB ser. B ADR trades at a price-to-earnings ratio of 18.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $22.80 is built from several models across several years.
How solid is the balance sheet of Skanska AB ser. (SKBSY)?
Balance-sheet figures for Skanska AB ser. B ADR (as of Sep 23, 2026): return on equity 9.7%, debt of 0.09 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is SKBSY from its 52-week high?
Skanska AB ser. B ADR trades at $28.45, about 3% below its 52-week high of $29.33 and 23% above the low of $23.22 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $22.80 is for.
Which stocks are comparable to Skanska AB ser. B ADR?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Skanska AB ser. B ADR stock attractive at the current price?
The data as of Sep 23, 2026: price $28.45, calculated fair value $22.80 (−20%), Quality Score 60/100, 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 SKBSY calculated?
We run Skanska AB ser. B ADR 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 $22.80, 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 14.1 % above its aggregate fair value. Skanska AB ser. B 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 Skanska AB ser. (SKBSY)?
The closing price on Sep 23, 2026 was $28.45. Our model-based fair value is $22.80, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Skanska AB ser. B ADR right 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 ($16.02 to $30.23) leaves room in how you read the outcome.
Where does the earnings growth of Skanska AB ser. (SKBSY) come from?
Earnings per share at Skanska AB ser. B ADR grew +1.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin −2.4 %, tax rate +0.1 %, residual (interest, one-offs) +1.9 %. 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 Skanska AB ser. B ADR
How large is the market capitalisation of Skanska AB ser. (SKBSY)?
The market capitalisation of Skanska AB ser. B ADR is $11.8B. 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 Skanska AB ser. (SKBSY)?
The price-to-sales ratio of Skanska AB ser. B ADR is 0.59 (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 Skanska AB ser. (SKBSY)?
Earnings per share at Skanska AB ser. B ADR are $1.44 (price ÷ EPS = P/E 18.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Skanska AB ser. (SKBSY)?
The dividend yield of Skanska AB ser. B ADR is 5.7% (payout 112%). 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 Skanska AB ser. (SKBSY)?
The net margin of Skanska AB ser. B ADR is 3.2% (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 Skanska AB ser. (SKBSY)?
The return on equity (ROE) of Skanska AB ser. B ADR is 9.7% (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 Skanska AB ser. (SKBSY)?
On an EBIT basis the return on assets of Skanska AB ser. B ADR is 4.7% (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.
How fast is revenue growing at Skanska AB ser. (SKBSY)?
Revenue at Skanska AB ser. B ADR is growing −10.0% versus a year earlier (3y avg +2.7%). 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 Skanska AB ser. (SKBSY)?
Earnings per share at Skanska AB ser. B ADR are growing +3.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Skanska AB ser. (SKBSY) carry?
The net debt of Skanska AB ser. B ADR is 5.4B SEK (fiscal year 2025, ≈ 1.2 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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Sep 23, 2026