Sandvik AB (SAND) Fair Value & Analysis
Industrials · SE · Market cap 480B SEK (≈ $50.3B) · ISIN SE0000667891
What is Sandvik AB really worth?
A solid business, but trading 102% above our fair value of kr 193.01.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 23 valuation models · updated 4 days ago
Share price +4.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 268.85). The favourable scenario is already priced in.
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 125.17 to kr 268.85) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range kr 132.65 – kr 411.80 · fair‑value band kr 125.17 – kr 268.85 · the kr 390.10 price screens above the kr 193.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Sandvik AB (SAND) currently trades at kr 390.10, while our model-based Fair Value estimate is kr 193.01, implying the stock looks roughly 102.1% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 204.05 per share, and 0 of the 23 models we run sit above the kr 390.10 price. Bear case: the Asset-Based group reads lowest at kr 49.76, and 23 of the 23 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Sandvik AB generated revenue of 122B SEK at a net margin of 12.2%. Revenue grew 4.7% year over year. It earns a return on equity of 15.4%. Net debt stands at 32.2B SEK. Fundamentals as of Sep 1, 2026
Our scenario range runs from kr 125.17 (bear case) to kr 268.85 (bull case); at kr 390.10, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at −51%, SAND screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 3.92 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 23 models by family
Widest divergence: DCF Models (kr 204.05) versus Asset-Based (kr 49.76). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 69
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide.
Full company description
Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms. It provides cutting tools and tooling systems, and digital solutions and software; metal powder for additive manufacturing, and products made from controlled expansion alloys; and tungsten powders, as well as recycling services of secondary tungsten raw materials. It serves aerospace, automotive, mining, general engineering, infrastructure, and other industries. Sandvik AB (publ) was founded in 1862 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Sandvik AB reported revenue of 121B SEK in FY2025 versus 99.1B SEK in FY2021, a compound +5.0%/yr. Reported net income was 14.7B SEK in FY2025, compounding +0.4%/yr from FY2021.
of which total revenue +4.2 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
SAND screens 102% overvalued. Compare with GE Vernova Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Atlas Salt's Financing Letters of Interest Exceed $300 Million Following Further Export Credit Agency and Sandvik Support
- Sandvik wins equipment order worth $29m from Kamoa Copper
- Sandvik to provide automated fleet for Viscaria copper mine restart
- Sandvik AB (SDVKF) Q2 2026 Earnings Call Highlights: Record Revenues and Strategic Growth ...
Peer Group
Specialty Industrial Machinery · 792 stocks
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.
Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $941.84 | $131.95 | −86% |
| SIE SIE | €289.85 | €139.77 | −52% |
| Eaton Corporation ETN | $402.78 | $168.65 | −58% |
| Parker-Hannifin Corporation PH | $995.02 | $398.69 | −60% |
| Atlas Copco AB ATCOA | kr 206.60 | kr 112.59 | −46% |
| Cummins Inc CMI | $564.40 | $348.94 | −38% |
| Illinois Tool Works Inc ITW | $281.67 | $145.84 | −48% |
| Emerson Electric Co EMR | $155.18 | $58.44 | −62% |
| AMETEK, Inc AME | $236.25 | $125.80 | −47% |
| Rockwell Automation, Inc ROK | $417.53 | $125.76 | −70% |
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