Afry.St
AFRY operates as a professional services firm within the Industrials sector, generating revenue through engineering and consulting activities.
Business. AFRY operates as a professional services firm within the Industrials sector, generating revenue through engineering and consulting activities.
Analyst recommendations
6 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
AFRY operates as a professional services firm within the Industrials sector, generating revenue through engineering and consulting activities.
AFRY maintains a leveraged capital structure with total liabilities of SEK 14.4 billion against total equity of SEK 12.7 billion. The debt-to-equity ratio stands at 0.52, driven by long-term debt of SEK 6.6 billion. Liquidity is constrained, evidenced by a current ratio of 1.04 and cash and equivalents of only SEK 651 million. The company reports negative net cash after subtracting total debt, indicating a reliance on debt financing rather than internal cash generation for balance sheet maintenance.
Profitability metrics show a gross profit of SEK 20.5 billion on revenue of SEK 25.8 billion, yielding a gross margin of approximately 79.5%. Operating income is SEK 1.4 billion, resulting in an operating margin of roughly 5.4%. Net income stands at SEK 800 million, producing a return on equity (ROE) of 6.3% and a return on assets (ROA) of 3.0%. These returns are modest, reflecting the asset-light but labor-intensive nature of professional services.
Revenue concentration data by segment or geography is not available in the provided input, preventing a detailed analysis of exposure risks. The company operates within the Professional Services industry, where revenue is typically derived from billable hours and project-based contracts.
Historical revenue and net income trends are not provided in the input data, limiting the ability to assess growth trajectory or cyclicality. The latest normalized period shows revenue of SEK 25.8 billion.
Risk assessment indicates medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, highlighting potential refinancing or cash flow management pressures. The current ratio of 1.04 suggests limited short-term buffer against unexpected liabilities.
Recent observations include analyst estimates with a mean price target of SEK 153.00 and a median of SEK 160.00, implying significant upside from the current market price of SEK 102.80. The mean recommendation is 2.17, indicating a moderate buy consensus. No specific filing, news, or transcript events with substantive business impact are detailed in the input beyond system reconciler logs.
- AFRY trades at a P/E of 14.0 and P/B of 0.88, suggesting the market prices in modest growth expectations relative to book value.
- High gross margins (~79.5%) are typical for professional services, but operating leverage is limited with an operating margin of ~5.4%.
- Liquidity is tight with a current ratio of 1.04 and negative net cash, posing medium liquidity risk.
- Analyst consensus is positive with a mean target of SEK 153.00, representing ~49% upside from the current price of SEK 102.80.
- Dilution risk is assessed as low, with basic and diluted shares outstanding being identical.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 9,47 |
| Revenue | —no estimate | —no estimate | 25,2B SEK |
| Operating income | —no estimate | —no estimate | 1,6B SEK |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Afry AB Market data — financials · 2026-08-03
- reconciler_enqueue (reconciler) on AFRY.ST · 2026-08-03
- Afry AB Market data — analyst estimates · 2026-08-03
Ownership & reference
Leadership
- Jonas GustavssonPresident, Chief Executive Officer