Rankings Machinery & automation Indutrade
Indutrade
68
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- ROIC after goodwill−5
- Quality of growth−4
- Multiples vs own history and peers−4
Strengths
- Insider buying+2
- Order intake+1
How the score is built
From 100 to 68, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 265.40 SEK
- Median analyst target
- 284.00 SEK
- Upside to median
- +7.0%
- Analysts
- 8
- Target range
- 260.00 – 322.00 SEK
- 52-week change
- +6%
- P/E (trailing)
- 34.4
- Forward P/E
- 27.8
- PEG
- 4.12
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 2 findings−9 of −30
- −4Quality of growthRevenue has gone from SEK 31.8bn (2023) to 32.2bn (2025) and 33.1bn TTM despite continuous acquisitions, and EPS fell three years in a row: 7.86 (2023), 7.54 (2024), 7.03 (2025) and 7.36 TTM – still below the 2023 level.
- −5ROIC after goodwillROIC (incl. goodwill) has fallen every year from 15.3% (2021) to 11.5% TTM and is now close to a WACC of 10.0%. Intangibles have grown from SEK 8.8bn to 16.6bn since 2021, while EBIT rose only 1.16bn – a marginal return of about 15% pre-tax (about 11% after tax), i.e. the acquisitions barely earn their cost of capital.
Price
Today's multiples against the company's own history and its peers. · 2 findings−6 of −35
- −4Multiples vs own history and peersForward P/E 27.1 below the whole 29.1–44.8 range in 2021–2025 and EV/EBITDA 17.9 vs 19.3–30.0; but the trailing P/E of 34.7 is mid-range of 33.3–36.7 (2023–25) on earnings lower than in 2023, and the stock is up 16% in a year.
- −2FCF yieldFCF yield 3.9% (FCF of SEK 3.67bn on a market value of 93bn) and a dividend yield of about 1.2%; analysts expect FCF of only 3.52bn in 2026.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−3 of −35
- −1LeverageNet debt/EBITDA has risen to 1.84 from 1.48 at the start of the year as the acquisition pace has increased (acquisitions of SEK 2.9bn TTM vs 1.8bn in 2025; nine acquisitions with 1.5bn of annual revenue in H1).
- −1Construction and infrastructureInfrastructure & Construction continued to fall 3% organically in Q2 2026 and is the weakest business area.
- −1Macro and geopoliticsManagement itself writes that there is still considerable uncertainty in the general economy, mainly because of the geopolitical situation.
Plus
Only documented strengths. · 2 findings+3 of +15
- +2Insider buyingMain shareholder L E Lundbergföretagen (related to board member Katarina Martinson) bought shares for about SEK 205m on 28–29 April 2026, and five board members bought about 0.2m each in June.
- +1Order intakeRecord order intake of SEK 9.4bn in Q2 2026 (+14%, +8% organic), book-to-bill 105% and order book +8% y/y.
Caveats
What the score does not capture, or where the data is weak.
Serial acquirer (industrial technical trading and niche production, about 200+ companies); 'Machinery & automation' is the closest industry. stockanalysis' ROIC includes goodwill. Acquisition multiples are not disclosed per deal and have not been examined; the marginal return is calculated as EBIT growth over growth in intangible assets. Q2 2026 was a clear turning point (organic +5%, orders +8% organic), so trailing figures may underestimate current momentum. EBITA margin 14.7% including revaluation effects (14.9% excluding). Only 8 analysts; next report 23 October 2026.
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