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Skanska AB
(SKA.B)
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Rating:67Neutral
Price Target:
kr292.00
▲(7.20% Upside)
Action:Reiterated
Date:10/18/26
The score is driven primarily by solid financial fundamentals (stable profitability, improved moderate leverage) tempered by meaningful cash-flow volatility. Valuation is supportive due to a moderate P/E and a high dividend yield, while technical indicators are mixed with slightly weak near-term momentum (negative MACD and price below shorter-term averages).
Positive Factors
Manageable Leverage
Debt is moderate relative to equity and has improved from 2023–2024 levels, giving Skanska a stronger buffer in a cyclical, working-capital-intensive business. This supports resilience and preserves capacity to fund projects or absorb operating variability.
Negative Factors
Volatile Free Cash Flow
Free cash flow declined about 28.6% year over year and has been volatile, including negative FCF in 2022 and very weak FCF in 2023. Such swings can complicate funding, dividend planning, and investment timing because project working capital varies.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Debt is moderate relative to equity and has improved from 2023–2024 levels, giving Skanska a stronger buffer in a cyclical, working-capital-intensive business. This supports resilience and preserves capacity to fund projects or absorb operating variability.
Read all positive factors
Skanska AB (SKA.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr116.22B
Dividend Yield4.95%
Average Volume (3M)719.68K
Price to Earnings (P/E)17.6
Beta (1Y)0.99
Revenue Growth-5.70%
EPS Growth6.78%
CountrySE
Employees26,363
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)16.02
Shares Outstanding400,389,770
10 Day Avg. Volume550,415
30 Day Avg. Volume719,679
Financial Highlights & Ratios
PEG Ratio7.96
Price to Book (P/B)1.69
Price to Sales (P/S)0.59
P/FCF Ratio25.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr298.50Price Target Upside9.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)16.66
Revenue Forecast (FY)kr179.44B
Skanska AB Business Overview & Revenue Model
Company Description
Skanska AB (publ) is a prominent firm specializing in construction and property development, with operations spanning the Nordic countries, Europe, and the United States. Its business activities are organized into three primary divisions: Construc...
How the Company Makes Money
Skanska makes money mainly through (1) construction contracting, (2) property development, and (3) investment activities such as PPP/project financing.
1) Construction contracting (primary revenue source): Skanska earns revenue by executing const...
Skanska AB Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
76
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.14B | 176.66B | 176.48B | 167.17B | 163.17B | 143.87B |
| Gross Profit | 15.47B | 14.52B | 14.48B | 13.43B | 16.69B | 15.71B |
| EBITDA | 12.42B | 10.18B | 8.49B | 6.94B | 10.45B | 11.31B |
| Net Income | 6.63B | 5.70B | 5.55B | 5.00B | 8.26B | 6.86B |
Balance Sheet | ||||||
| Total Assets | 166.15B | 158.29B | 171.21B | 155.19B | 151.59B | 139.04B |
| Cash, Cash Equivalents and Short-Term Investments | 16.07B | 19.01B | 32.20B | 17.91B | 10.01B | 10.95B |
| Total Debt | 15.51B | 15.92B | 20.17B | 17.85B | 14.70B | 15.00B |
| Total Liabilities | 104.45B | 96.34B | 108.59B | 98.84B | 96.34B | 93.24B |
| Stockholders Equity | 61.47B | 61.76B | 62.47B | 56.20B | 55.11B | 45.68B |
Cash Flow | ||||||
| Free Cash Flow | 130.00M | 4.10B | 6.45B | 632.00M | -1.75B | 5.51B |
| Operating Cash Flow | 11.60B | 7.23B | 9.11B | 3.21B | 510.00M | 7.44B |
| Investing Cash Flow | -4.16B | -8.72B | -5.78B | 6.00B | 4.82B | -11.37B |
| Financing Cash Flow | -8.42B | -6.20B | -2.84B | -1.25B | -6.53B | -5.05B |
Skanska AB Technical Analysis
Positive
272.40
Price Trends
271.35
Positive
265.56
Positive
257.55
Positive
Market Momentum
1.86
Negative
64.24
Neutral
96.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SKA.B, the sentiment is Positive. The current price of 272.4 is above the 20-day moving average (MA) of 269.24, above the 50-day MA of 271.35, and above the 200-day MA of 257.55, indicating a bullish trend. The MACD of 1.86 indicates Negative momentum. The RSI at 64.24 is Neutral, neither overbought nor oversold. The STOCH value of 96.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SKA.B.
Skanska AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | kr31.73B | 21.03 | ― | 2.45% | 4.26% | 30.00% | |
73 Outperform | kr50.84B | 21.43 | 18.37% | 2.62% | 5.87% | 7.65% | |
67 Neutral | kr116.22B | 17.63 | 10.96% | 4.95% | -5.70% | 6.78% | |
66 Neutral | kr14.69B | 17.13 | 6.63% | 4.63% | -3.51% | -7.54% | |
65 Neutral | kr26.84B | 11.73 | 13.52% | 3.57% | 3.75% | 38.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | kr16.04B | 228.23 | 1.00% | 5.90% | -10.38% | -95.01% |
* General Sector Average
SE:SKA.B
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Skanska AB Corporate Events
Skanska Wins NOK 320M Contract for New Healthcare Center in Norway
Oct 16, 2026
Skanska has secured a NOK 320 million (about SEK 310 million) contract from Eigersund Municipality to design and build the Langevann healthcare center in Egersund, Norway, adding to its Nordic order bookings in the fourth quarter of 2026. The appr...
Skanska Wins USD 136 Million Rail Upgrade Contract in Northeast U.S.
Oct 9, 2026
Skanska has secured a USD 136 million, about SEK 1.3 billion, contract from a public client to deliver railroad improvements in the northeast U.S. The deal will be booked in the company’s U.S. order intake for the third quarter of 2026, rein...
Skanska Wins Additional USD 138 Million U.S. Tech Facility Contract
Oct 6, 2026
Skanska, a global construction and project development group with major operations in the Nordics, Europe and the U.S., reported 2025 revenues of SEK 179 billion and employs about 25,900 people. The company focuses on delivering sustainable and in...
Skanska Secures USD 78 Million U.S. School Project Expansion
Oct 5, 2026
Skanska has expanded its engagement with an existing client in the Western USA, signing a USD 78 million contract amendment for an education project that will be booked in its U.S. order intake for the third quarter of 2026. The deal underlines Sk...
Skanska Wins USD 110 Million Contract for New Renton High School in Washington
Oct 5, 2026
Skanska has secured a USD 110 million (about SEK 1.0 billion) contract from the Renton School District to build a new Renton High School in Renton, Washington, adding to its U.S. order bookings for the third quarter of 2026. The three-story, 32,50...
Skanska Expands Fort Myers Hospital Contract With USD 60 Million Add-On
Oct 2, 2026
Skanska has expanded its contract with Lee Health for the construction of a new hospital and medical office building in Fort Myers, Florida, adding work valued at USD 60 million, about SEK 560 million, to its U.S. order bookings for the third quar...
Skanska Wins USD 271 Million U.S. Coast Guard Pier Contract in Rhode Island
Oct 2, 2026
Skanska has secured a USD 271 million (about SEK 2.5 billion) contract from NAVFAC Mid-Atlantic to build a new homeport pier at Naval Station Newport in Rhode Island, U.S. The award will be booked in Skanska’s U.S. order intake for the third...
Skanska Wins USD 163 Million U.S. University Arts Complex Contract
Oct 1, 2026
Skanska has secured a USD 163 million (about SEK 1.5 billion) contract from the University of Mary Washington to build a new multi-story theatre and renovate fine arts facilities in Fredericksburg, Virginia. The project, which includes site develo...
Skanska adjusts voting rights as Class A shares converted to Class B
Sep 30, 2026
Skanska AB reported that during September 2026, 800 Class A shares were converted into Class B shares at the request of shareholders, in line with the company’s articles of association that allow such conversions. As a result, the total numb...
Skanska Invests CZK 1.5 Billion in Next Phase of Sustainable Prague Housing Project
Sep 30, 2026
Skanska AB is one of the world’s largest construction and project development groups, generating SEK 179 billion in revenue in 2025 and operating across the Nordics, Europe and the U.S. The company emphasizes sustainable, innovative building...
Skanska Sells Second Phase of Budapest H2Offices for EUR 98 Million
Sep 25, 2026
Skanska has agreed to divest the second phase of its H2Offices complex in Budapest, Hungary, to ERSTE Open-Ended Real Estate Investment Fund for EUR 98 million, about SEK 1.1 billion, with the transaction booked in the third quarter of 2026 and pr...
Skanska Wins USD 84 Million Data Center Contract in Georgia, USA
Sep 22, 2026
Skanska has secured a USD 84 million contract, about SEK 780 million, from an existing client to build a large data center in Georgia, USA. The project will be recorded in U.S. order bookings for the third quarter of 2026, reinforcing Skanska̵...
Skanska invests EUR 66M in sustainable Nowy Format office project in Kraków
Sep 15, 2026
Skanska is expanding its sustainable office portfolio in Central Europe with a major new project in Kraków, Poland, reinforcing its role as a leading global construction and project development group. The company continues to focus on environ...
Skanska Wins NOK 1.6 Billion Contract to Upgrade World’s Longest Road Tunnel
Sep 11, 2026
Skanska has secured a NOK 1.6 billion, about SEK 1.5 billion, contract from the Norwegian Public Roads Administration to upgrade the E16 Lærdal Tunnel, the world’s longest road tunnel and a vital link between eastern and western Norway....
Skanska Names Nomination Committee Ahead of 2027 Annual Meeting
Sep 11, 2026
Skanska AB has appointed its Nomination Committee for the 2027 Annual General Meeting, following the instruction adopted at the 2026 AGM that governs how the committee is formed. The committee is composed of representatives from major shareholders...
Skanska Wins USD 113 Million Contract to Rehabilitate Key I-395 Potomac River Bridge
Sep 8, 2026
Skanska has secured a USD 113 million contract from the District Department of Transportation and the Federal Highway Administration to rehabilitate the I-395 northbound bridge over the Potomac River, linking Arlington, Virginia with Washington, D...
Skanska Wins USD 57 Million Del Mar Corridor Expansion Contract in California
Sep 2, 2026
Skanska AB has secured a USD 57 million (about SEK 530 million) contract from the City of San Diego to expand a key traffic corridor in Del Mar, California, adding to its U.S. order bookings for the third quarter of 2026. The El Camino Real Half M...
Skanska Wins NOK 392M Contract for New Rikshospitalet Utility Plant in Oslo
Sep 1, 2026
Skanska has secured a NOK 392 million (about SEK 380 million) contract from Helse Sør-Øst RHF, represented by Sykehusbygg, to design and build the F2 Technical Utility Plant at the New Rikshospitalet in Oslo. The facility, totaling aroun...
Skanska Invests NOK 270 Million in Second Phase of Trondheim Housing Project
Aug 31, 2026
Skanska is expanding its footprint in Norway’s residential property market with a NOK 270 million, about SEK 260 million, investment in the second phase of the Lillebytunet housing project in Trondheim. The development forms part of a broade...
Skanska wins USD 85 million health sciences campus contract in Florida
Aug 27, 2026
Skanska AB, a global construction and project development group with major operations in the Nordics, Europe and the U.S., reported revenue of SEK 179 billion in 2025. The company leverages its scale and technical expertise to deliver sustainable ...
Skanska Wins EUR 77 Million Data Center Contract in Finland
Aug 26, 2026
Skanska has secured a EUR 77 million (about SEK 830 million) contract from a technology company to build a data center facility in Finland. The project, covering core and shell construction, will be added to the Nordic order bookings in the third ...
Skanska Wins CZK 2.1 Billion Contract for Prague Data Center
Aug 24, 2026
Skanska has secured a CZK 2.1 billion, about SEK 930 million, contract from CRA Prague Gateway DC to build a new data center on the outskirts of Prague in Czechia. The project, which will be booked to Skanska’s European operations in the thi...
Skanska Lands USD 1.2 Billion Data Center Deal in Southeast USA
Aug 20, 2026
Skanska AB, a global construction and project development group, operates across the Nordics, Europe and the USA, delivering large-scale, sustainable infrastructure and building projects. With SEK 179 billion in revenue in 2025 and a workforce of ...
Skanska Wins USD 957M Share of LA Metro Light Rail Project in Van Nuys
Aug 14, 2026
Skanska, in joint venture with Stacy Witbeck, has secured a USD 957 million share of a USD 1.9 billion contract from LA Metro to build the East San Fernando Valley Light Rail Transit Project in Van Nuys, California. The award, booked in Skanska...
Skanska Wins Additional USD 238 Million Data Center Contract in Virginia
Aug 13, 2026
Skanska has secured an additional USD 238 million contract from an existing client to build a new 22,000 square-meter data center in Virginia, expanding a campus where it previously delivered the first facility. The project, which includes five da...
Skanska Expands U.S. Healthcare Portfolio With New UNC Health Contract
Aug 12, 2026
Skanska has secured an additional USD 68 million contract from UNC Health for the construction of a new medical office building and parking deck in Durham, North Carolina, marking the start of a greenfield medical campus. The agreement will be ref...
Skanska Wins USD 64 Million Vancouver Public Works Campus Contract
Aug 12, 2026
Skanska has secured a USD 64 million contract to build the Vancouver Public Works Operations Campus in Vancouver, Washington, a project to be booked in its U.S. order intake for the third quarter of 2026. The campus is designed to enhance the city...
Skanska Wins CZK 757M Motorway Reconstruction Contract Near Prague
Aug 5, 2026
Skanska has secured a CZK 757 million, about SEK 340 million, contract from the National Highway Authority of the Czech Republic to reconstruct a 14-kilometer section of the D11 motorway near Prague. The deal will be booked in Skanska Central Euro...
Skanska Adjusts Voting Structure After Class A to Class B Share Conversion
Jul 31, 2026
Skanska AB has reported a small change in its share capital structure following shareholder-initiated conversions between its dual share classes, which carry different voting rights. The company remains a major global construction and project deve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.