Lifco

Machinery & automation · SwedenRank 164 of 829Prices 3 Nov 2026Model 1.470+ zone

15070100

In the 70+ zone: a score above 70 with more than 20% upside to the median analyst target.

Biggest deductions

Multiples vs own history and peers−6
Quality of growth (organic)−3
FCF yield−3

Strengths

Pricing power+2
Strong balance sheet+1
Broad customer base+1

How the score is built

From 100 to 77, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start

77Score

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: 278.40 SEK
Median analyst target: 339.00 SEK
Upside to median: +21.8%
Analysts: 8
Target range: 300.00 – 350.00 SEK
52-week change: −25%
P/E (trailing): 32.1
Forward P/E: 28.7
PEG: 5.51

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−4 of −30

Quality of growth (organic)
Organic growth only 2.9% in H1 2026 (4.7% in Q2); the rest of growth is acquisitions (+7.1%). Demolition & Tools remains weak and far below its 2023 level (Brokk, Kinshofer), and EPS grew only 0.8% in 2024.
investing.com
−3
ROIC after goodwill
ROIC (incl. goodwill) 15.0% TTM vs 16.0–17.3% in 2021–2023; intangibles have grown from SEK 15.5bn to 28.0bn since 2021, while EBIT rose 2.37bn (marginal return about 19% pre-tax) – still clearly above a WACC of 10.0%.
stockanalysis.com
−1

Price

Today's multiples against the company's own history and its peers. · 2 findings−9 of −35

Multiples vs own history and peers
P/E 37.3 (TTM) and forward P/E 31.1 vs 28.4–51.5 and 26.7–46.1 in 2021–2025; EV/EBITDA 20.7 vs 17.8–32.9. Below the 2024–25 level (P/E 44), but still a high premium for about 3% organic growth.
stockanalysis.com
−6
FCF yield
FCF yield 3.3% (FCF of SEK 4.77bn on a market value of 144bn) and a dividend yield of only 0.85%; analysts expect FCF of 4.88bn in 2026.
stockanalysis.com
−3

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−4 of −35

Control and key person
Insiders (mainly Carl Bennet) own 50.6% of the capital and have the voting majority; free float is only 221m of 454m shares. Minority shareholders have no real influence, and the group is closely tied to Bennet as main shareholder and chairman.
stockanalysis.com
−2
Currency
Currency pulled revenue down 2.8% in H1 2026; the strong krona squeezes reported growth, as most sales are outside Sweden.
mfn.se
−1
Goodwill risk
Intangibles of SEK 28.0bn make up 64% of the balance sheet and exceed equity (20.5bn); working capital is negative (−0.7bn).
stockanalysis.com
−1

Plus

Only documented strengths. · 3 findings+4 of +15

Pricing power
The EBITA margin rose to 22.6% in H1 2026 (22.0%), and the gross margin has been lifted from 41.9% in 2021 to 44.1% TTM.
mfn.se
+2
Strong balance sheet
Net debt/EBITDA 1.2x vs a cap of 3.0x; acquisitions (3.1bn) and dividends (1.2bn) were funded by FCF of 4.8bn (TTM).
mfn.se
+1
Broad customer base
A conglomerate of small and medium-sized companies with about 7,800 employees and sales in over 100 countries; no customer concentration.
carlbennetab.se
+1

Caveats

What the score does not capture, or where the data is weak.

Serial acquirer (Dental, Demolition & Tools, Systems Solutions); 'Machinery & automation' is the closest industry – Dental (about a quarter of sales) really belongs under medtech. stockanalysis' ROIC includes goodwill; Lifco's own ROCE excluding goodwill looks much higher. 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. Carl Bennet's SEK 213m share purchase (Dec. 2025) was in Industrivärden, not Lifco, and gives no plus. Only 8 analysts; next report 23 October 2026.