(EPI-A) Epiroc (publ) - ST
Sector: Industrials | Industry: Farm & Heavy Construction Machinery | Exchange: ST (Sweden) | Market Cap: 328.467m SEK | Total Return: 35.6% in 12m
Avg Turnover: 317M
EPS Trend: -77.8%
Qual. Beats: -1
Rev. Trend: 67.9%
Qual. Beats: -2
Warnings
No concerns identified
Tailwinds
Confidence
Epiroc AB (publ) is a Sweden-based industrial company specializing in equipment, tools, and service solutions for the mining and infrastructure sectors. The company operates through two primary segments: Equipment & Service, which focuses on rock excavation, drilling, and underground haulage; and Tools & Attachments, which provides hydraulic breakers, rock reinforcement tools, and ground-engaging components. Its global footprint spans North and South America, Europe, Africa, Asia, and Australia.
The business model relies heavily on a high-margin aftermarket strategy, offering spare parts, remanufacturing, and service agreements to maximize the lifecycle value of its installed base. In the heavy equipment sector, manufacturers like Epiroc are increasingly transitioning toward Equipment as a Service and digital integration, incorporating automation, collision avoidance, and battery-electric vehicle (BEV) technology to improve mine safety and reduce carbon emissions.
Epiroc maintains a strategic focus on technological innovation through digital monitoring systems and partnerships, such as its collaboration with Sany Group. Founded in 1873, the company provides mission-critical infrastructure for both surface and underground applications, including specialized drilling for water and energy exploration.
- Service revenue expansion stabilizes margins against cyclical equipment demand volatility
- Mining electrification and automation adoption drives high-value equipment replacement cycles
- Global commodity price fluctuations impact capital expenditure budgets of mining majors
- Strategic acquisitions in digital solutions and attachments accelerate inorganic revenue growth
| Net Income: 8.51b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -1.11 > 1.0 |
| NWC/Revenue: 46.34% < 20% (prev 43.88%; Δ 2.46% < -1%) |
| CFO/TA 0.12 > 3% & CFO 9.95b > Net Income 8.51b |
| Net Debt (13.4b) to EBITDA (14.5b): 0.93 < 3 |
| Current Ratio: 2.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.21b) vs 12m ago 0.08% < -2% |
| Gross Margin: 36.06% > 18% (prev 36.78%; Δ -0.71% > 0.5%) |
| Asset Turnover: 74.00% > 50% (prev 80.39%; Δ -6.39% > 0%) |
| Interest Coverage Ratio: 20.17 > 6 (EBIT TTM 11.4b / Interest Expense TTM 566.0m) |
| A: 0.34 (Total Current Assets 47.9b - Total Current Liabilities 19.7b) / Total Assets 83.5b |
| B: 0.54 (Retained Earnings 45.4b / Total Assets 83.5b) |
| C: 0.14 (EBIT TTM 11.4b / Avg Total Assets 82.2b) |
| D: 1.22 (Book Value of Equity 45.9b / Total Liabilities 37.6b) |
| Altman-Z'' = 6.20 = AAA |
| DSRI: 1.06 (Receivables 16.6b/16.6b, Revenue 60.8b/65.0b) |
| GMI: 1.02 (GM 36.78% / 36.06%) |
| AQI: 0.98 (AQ_t 0.32 / AQ_t-1 0.32) |
| SGI: 0.94 (Revenue 60.8b / 65.0b) |
| TATA: -0.02 (NI 8.51b - CFO 9.95b) / TA 83.5b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of June 20, 2026, the stock is trading at SEK 277.20 with a total of 1,548,806 shares traded.
Over the past week, the price has changed by +6.13%,
over one month by +6.57%,
over three months by +27.11% and
over the past year by +35.55%.
Epiroc (publ) has no consensus analysts rating.
P/E Trailing = 38.6202
P/E Forward = 32.4675
P/S = 5.4013
P/B = 7.1557
P/EG = 2.4791
Revenue TTM = 60.8b SEK
EBIT TTM = 11.4b SEK
EBITDA TTM = 14.5b SEK
Long Term Debt = 14.6b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 3.95b SEK (from shortTermDebt, last quarter)
Debt = 22.6b SEK (from shortLongTermDebtTotal, last quarter) + Leases 2.77b
Net Debt = 13.4b SEK (calculated: Debt 22.6b - CCE 9.21b)
Enterprise Value = 342b SEK (328b + Debt 22.6b - CCE 9.21b)
Interest Coverage Ratio = 20.17 (Ebit TTM 11.4b / Interest Expense TTM 566.0m)
EV/FCF = 42.86x (Enterprise Value 342b / FCF TTM 7.98b)
FCF Yield = 2.33% (FCF TTM 7.98b / Enterprise Value 342b)
FCF Margin = 13.12% (FCF TTM 7.98b / Revenue TTM 60.8b)
Net Margin = 13.99% (Net Income TTM 8.51b / Revenue TTM 60.8b)
Gross Margin = 36.06% ((Revenue TTM 60.8b - Cost of Revenue TTM 38.9b) / Revenue TTM)
Gross Margin QoQ = 35.52% (prev 36.23%)
Tobins Q-Ratio = 4.09 (Enterprise Value 342b / Total Assets 83.5b)
Interest Expense / Debt = 2.50% (Interest Expense 566.0m / Debt 22.6b)
Taxrate = 23.47% (2.61b / 11.1b)
NOPAT = 8.74b (EBIT 11.4b * (1 - 23.47%))
Current Ratio = 2.43 (Total Current Assets 47.9b / Total Current Liabilities 19.7b)
Debt / Equity = 0.49 (Debt 22.6b / totalStockholderEquity, last quarter 45.9b)
Debt / EBITDA = 0.93 (Net Debt 13.4b / EBITDA 14.5b)
Debt / FCF = 1.68 (Net Debt 13.4b / FCF TTM 7.98b)
Total Stockholder Equity = 41.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.35% (Net Income 8.51b / Total Assets 83.5b)
RoE = 20.36% (Net Income TTM 8.51b / Total Stockholder Equity 41.8b)
RoCE = 20.23% (EBIT 11.4b / Capital Employed (Equity 41.8b + L.T.Debt 14.6b))
RoIC = 13.50% (NOPAT 8.74b / Invested Capital 64.7b)
WACC = 8.25% (E(328b)/V(351b) * Re(8.69%) + D(22.6b)/V(351b) * Rd(2.50%) * (1-Tc(0.23)))
Discount Rate = 8.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 36.80 | Cagr: 0.07%
[DCF] Terminal Value 74.36% ; FCFF base≈8.24b ; Y1≈7.75b ; Y5≈7.21b
[DCF] Fair Price = 122.4 (EV 114b - Net Debt 13.4b = Equity 100b / Shares 819.9m; r=8.35% [WACC [floored]]; 5y FCF grow -7.49% → 2.50% )
EPS Correlation: -77.76 | EPS CAGR: -3.25% | SUE: -1.08 | # QB: -1
Revenue Correlation: 67.90 | Revenue CAGR: 2.93% | SUE: -2.35 | # QB: -2
EPS current Quarter (2026-06-30): EPS=2.01 | Chg30d=+0.67% | Revisions=+11% | Analysts=5
EPS next Quarter (2026-09-30): EPS=2.11 | Chg30d=+6.11% | Revisions=+56% | Analysts=5
EPS current Year (2026-12-31): EPS=8.28 | Chg30d=+1.04% | Revisions=+76% | GrowthEPS=+14.4% | GrowthRev=+6.3%
EPS next Year (2027-12-31): EPS=9.79 | Chg30d=+1.69% | Revisions=+76% | GrowthEPS=+18.2% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +76%