NCC-B Stock Analysis: NCC (publ) | ST
Engineering & Construction | ST, Sweden | Market Cap: 18.229m SEK | 12M Return: 11.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.6M
EPS Trend: -9.3%
Qual. Beats: -1
Rev. Trend: 5.5%
Qual. Beats: -2
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NCC AB is a Nordic construction and property development group headquartered in Solna, Sweden, with operations across Sweden, Norway, Denmark, and Finland. Founded in 1935, the company is organized into five segments covering building construction (residential, commercial, schools, hospitals, and warehouses), infrastructure projects (tunnels, roads, and railways), industrial activities (stone materials, asphalt, and paving), and commercial property development in metropolitan regions.
As a vertically integrated construction operator, NCC combines project execution with upstream materials production (asphalt and aggregates), which can help stabilize margins against subcontractor price volatility. The Nordic construction sector is highly cyclical and sensitive to interest rates, housing demand, and public infrastructure spending, while the property development segment adds exposure to commercial real estate values in major Nordic cities.
- Swedish residential construction slowdown hits Building Sweden revenue
- Infrastructure margins improve on Nordic government tender wins
- Property Development writedowns rise as commercial real estate softens
| Net Income: 92.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -6.81 > 1.0 |
| NWC/Revenue: 10.53% < 20% (prev 11.75%; Δ -1.22% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.80b > Net Income 92.0m |
| Net Debt (4.61b) to EBITDA (1.72b): 2.68 < 3 |
| Current Ratio: 1.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (97.8m) vs 12m ago -0.01% < -2% |
| Gross Margin: 10.00% > 18% (prev 8.54%; Δ 1.46% > 0.5%) |
| Asset Turnover: 181.8% > 50% (prev 200.0%; Δ -18.14% > 0%) |
| Interest Coverage Ratio: 2.72 > 6 (EBIT TTM 594.0m / Interest Expense TTM 218.0m) |
| A: 0.20 (Total Current Assets 21.2b - Total Current Liabilities 15.5b) / Total Assets 29.1b |
| B: 0.22 (Retained Earnings 6.48b / Total Assets 29.1b) |
| C: 0.02 (EBIT TTM 594.0m / Avg Total Assets 29.9b) |
| D: 0.34 (Book Value of Equity 7.35b / Total Liabilities 21.8b) |
| Altman-Z'' = 2.50 = A |
| DSRI: 1.13 (Receivables 10.3b/10.2b, Revenue 54.3b/61.1b) |
| GMI: 0.85 (GM 8.54% / 10.00%) |
| AQI: 1.09 (AQ_t 0.13 / AQ_t-1 0.12) |
| SGI: 0.89 (Revenue 54.3b / 61.1b) |
| TATA: -0.06 (NI 92.0m - CFO 1.80b) / TA 29.1b) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of July 09, 2026, the stock is trading at SEK 187.50 with a total of 147,515 shares traded. Over the past week, the price has changed by -1.11%, over one month by +3.65%, over three months by -10.26% and over the past year by +11.64%.
Current recommended Stop Loss: 182.00 (which is 2.9% or 1.3 ATR below the current price).
NCC (publ) has no consensus analysts rating.
P/E Trailing = 196.2105
P/E Forward = 10.6045
P/S = 0.3358
P/B = 2.5848
P/EG = 1.1122
Revenue TTM = 54.3b SEK
EBIT TTM = 594.0m SEK
EBITDA TTM = 1.72b SEK
Long Term Debt = 2.73b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 1.56b SEK (from shortTermDebt, last quarter)
Debt = 5.83b SEK (from shortLongTermDebtTotal, last quarter) + Leases 1.51b
Net Debt = 4.61b SEK (calculated: Debt 5.83b - CCE 1.22b)
Enterprise Value = 22.8b SEK (18.2b + Debt 5.83b - CCE 1.22b)
Interest Coverage Ratio = 2.72 (Ebit TTM 594.0m / Interest Expense TTM 218.0m)
EV/FCF = 17.16x (Enterprise Value 22.8b / FCF TTM 1.33b)
FCF Yield = 5.83% (FCF TTM 1.33b / Enterprise Value 22.8b)
FCF Margin = 2.45% (FCF TTM 1.33b / Revenue TTM 54.3b)
Net Margin = 0.17% (Net Income TTM 92.0m / Revenue TTM 54.3b)
Gross Margin = 10.00% ((Revenue TTM 54.3b - Cost of Revenue TTM 48.9b) / Revenue TTM)
Gross Margin QoQ = 6.16% (prev 11.42%)
Tobins Q-Ratio = 0.78 (Enterprise Value 22.8b / Total Assets 29.1b)
Interest Expense / Debt = 3.74% (Interest Expense 218.0m / Debt 5.83b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 445.5m (EBIT 594.0m * (1 - 25.00%))
Current Ratio = 1.37 (Total Current Assets 21.2b / Total Current Liabilities 15.5b)
Debt / Equity = 0.79 (Debt 5.83b / totalStockholderEquity, last quarter 7.35b)
Debt / EBITDA = 2.68 (Net Debt 4.61b / EBITDA 1.72b)
Debt / FCF = 3.46 (Net Debt 4.61b / FCF TTM 1.33b)
Total Stockholder Equity = 7.78b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.31% (Net Income 92.0m / Total Assets 29.1b)
RoE = 1.18% (Net Income TTM 92.0m / Total Stockholder Equity 7.78b)
RoCE = 5.65% (EBIT 594.0m / Capital Employed (Equity 7.78b + L.T.Debt 2.73b))
RoIC = 3.17% (NOPAT 445.5m / Invested Capital 14.0b)
WACC = 6.50% (E(18.2b)/V(24.1b) * Re(7.68%) + D(5.83b)/V(24.1b) * Rd(3.74%) * (1-Tc(0.25)))
Discount Rate = 7.68% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 34.81 | Cagr: 0.04%
[DCF] Terminal Value 73.10% ; FCFF base≈2.19b ; Y1≈1.92b ; Y5≈1.55b
[DCF] Fair Price = 222.9 (EV 24.9b - Net Debt 4.61b = Equity 20.3b / Shares 91.0m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -9.31 | EPS CAGR: -0.90% | SUE: -1.08 | # QB: -1
Revenue Correlation: 5.52 | Revenue CAGR: 0.25% | SUE: -1.40 | # QB: -2
EPS current Quarter (2026-06-30): EPS=5.23 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=6.10 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=15.38 | Chg30d=-3.30% | Revisions=-25% | GrowthEPS=+10.7% | GrowthRev=+2.0%
EPS next Year (2027-12-31): EPS=17.10 | Chg30d=-0.47% | Revisions=-40% | GrowthEPS=+11.2% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: -50% (up=0, down=3)