Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
AFRY AB is a Swedish-Finnish public company specializing in engineering, design, and advisory services with a global presence across over 50 countries. Founded in 1895 as the Southern Swedish Steam Generator Association in Malmö, it evolved through mergers and expansions, notably combining with Finland's Pöyry PLC in 2019 to form the modern AFRY brand, marking 130 years in 2025. The company operates through three core divisions: Energy, Industry, and Transportation & Places, employing around 18,000 experts to deliver sustainable solutions in infrastructure, digitalization, and project management. AFRY AB emphasizes sustainability, addressing climate change and urbanization challenges via services in renewable energy, process industries, management consulting, and sectors like food, pharmaceuticals, mobility, manufacturing, and bioindustry. Notable projects include the Gotthard Base Tunnel in Switzerland and the Ras al-Khair power plant in Saudi Arabia, underscoring its role in high-impact global initiatives. Headquartered in Stockholm, Sweden, AFRY AB drives industrial and energy transitions, fostering resilience and innovation for clients worldwide.
kr 107.70
kr 1.55 (-1.42%)
Live · 04:11 PM · Twelve Data
Operating margin is thin at 5.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 5.2% YoY. The question is whether this is cyclical or a structural shift.
Even for strong businesses, today's 15x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
15.4x earnings, 6.3x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
kr 25.33B
▼ -5.2% YoY
Net Income (TTM)
kr 793M
▼ -34.9% YoY
Op. Margin
5.38%
▼ -1.6pp YoY
ROIC
5.35%
▼ -1.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
kr 1.94B
▲ +14.2% YoY
Op. Cash Flow (TTM)
kr 2.01B
▲ +12.5% YoY
Net Debt
kr 5.23B
Cash & Equiv.
kr 1.38B
3Y CAGR: +3.0%
3Y CAGR: +33.6%
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At a P/E of 15.4 and a price-to-free-cash-flow of 6.3, Afry AB (AFRY.XSTO) trades below a two-stage DCF intrinsic value of about SEK 356.38 per share, so at SEK 107.70 the stock looks undervalued (230.9% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Afry AB scores 48/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 5.6%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about SEK 356.38 per share for AFRY.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around SEK 267.29. At today's SEK 107.70, that puts the stock about 230.9% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Afry AB scores 48 out of 100 on Intrinsiqq's quality score, passing 3 of 8 checks, which makes it a mixed business on these measures. Recent fundamentals include a 5.4% operating margin and a 5.3% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
Yes, Afry AB pays a regular dividend of about SEK 6.00 per share per year (typically in quarterly installments), a yield of roughly 5.6% at the current price. That is a payout ratio of about 85.8% of earnings, so the dividend is stretched at this level. Afry AB has grown the dividend at roughly 4.7% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For AFRY.XSTO's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. AFRY.XSTO currently trades below its estimated intrinsic value and scores 48/100 on quality (mixed). It also yields about 5.6%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.