NCC-B Stock Analysis: NCC (publ) | ST
Engineering & Construction | ST, Sweden | Market Cap: 16.653m SEK | 12M Return: -3.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 29.3M
EPS Trend: -34.7%
Qual. Beats: -2
Rev. Trend: -19.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
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: 77.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -9.07 > 1.0 |
| NWC/Revenue: 8.34% < 20% (prev 9.91%; Δ -1.57% < -1%) |
| CFO/TA 0.03 > 3% & CFO 1.15b > Net Income 77.0m |
| Net Debt (6.07b) to EBITDA (3.17b): 1.91 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (98.0m) vs 12m ago 0.20% < -2% |
| Gross Margin: 10.14% > 18% (prev 8.77%; Δ 1.36% > 0.5%) |
| Asset Turnover: 163.5% > 50% (prev 183.9%; Δ -20.40% > 0%) |
| Interest Coverage Ratio: 9.90 > 6 (EBIT TTM 1.90b / Interest Expense TTM 192.0m) |
| A: 0.14 (Total Current Assets 24.7b - Total Current Liabilities 20.2b) / Total Assets 33.3b |
| B: 0.19 (Retained Earnings 6.36b / Total Assets 33.3b) |
| C: 0.06 (EBIT TTM 1.90b / Avg Total Assets 33.0b) |
| D: 0.28 (Book Value of Equity 7.22b / Total Liabilities 26.1b) |
| Altman-Z'' = 2.19 = BBB |
| DSRI: 1.45 (Receivables 13.8b/10.7b, Revenue 54.0b/60.2b) |
| GMI: 0.87 (GM 8.77% / 10.14%) |
| AQI: 1.20 (AQ_t 0.13 / AQ_t-1 0.11) |
| SGI: 0.90 (Revenue 54.0b / 60.2b) |
| TATA: -0.03 (NI 77.0m - CFO 1.15b) / TA 33.3b) |
| Beneish M = -2.74 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at SEK 169.40 with a total of 147,248 shares traded. Over the past week, the price has changed by -0.18%, over one month by -11.45%, over three months by -18.69% and over the past year by -3.39%.
Current recommended Stop Loss: 163.90 (which is 3.2% or 1.3 ATR below the current price).
NCC (publ) has no consensus analysts rating.
P/E Trailing = 214.8101
P/E Forward = 10.6045
P/S = 0.3075
P/B = 2.3272
P/EG = 1.1122
Revenue TTM = 54.0b SEK
EBIT TTM = 1.90b SEK
EBITDA TTM = 3.17b SEK
Long Term Debt = 2.73b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 3.45b SEK (from shortTermDebt, last quarter)
Debt = 6.96b SEK (from shortLongTermDebtTotal, last quarter) + Leases 1.51b
Net Debt = 6.07b SEK (calculated: Debt 6.96b - CCE 896.0m)
Enterprise Value = 22.7b SEK (16.7b + Debt 6.96b - CCE 896.0m)
Interest Coverage Ratio = 9.90 (Ebit TTM 1.90b / Interest Expense TTM 192.0m)
EV/FCF = 32.22x (Enterprise Value 22.7b / FCF TTM 705.0m)
FCF Yield = 3.10% (FCF TTM 705.0m / Enterprise Value 22.7b)
FCF Margin = 1.31% (FCF TTM 705.0m / Revenue TTM 54.0b)
Net Margin = 0.14% (Net Income TTM 77.0m / Revenue TTM 54.0b)
Gross Margin = 10.14% ((Revenue TTM 54.0b - Cost of Revenue TTM 48.5b) / Revenue TTM)
Gross Margin QoQ = 10.97% (prev 6.16%)
Tobins Q-Ratio = 0.68 (Enterprise Value 22.7b / Total Assets 33.3b)
Interest Expense / Debt = 2.76% (Interest Expense 192.0m / Debt 6.96b)
Taxrate = 26.02% (159.0m / 611.0m)
NOPAT = 1.41b (EBIT 1.90b * (1 - 26.02%))
Current Ratio = 1.22 (Total Current Assets 24.7b / Total Current Liabilities 20.2b)
Debt / Equity = 0.96 (Debt 6.96b / totalStockholderEquity, last quarter 7.22b)
Debt / EBITDA = 1.91 (Net Debt 6.07b / EBITDA 3.17b)
Debt / FCF = 8.60 (Net Debt 6.07b / FCF TTM 705.0m)
Total Stockholder Equity = 7.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.23% (Net Income 77.0m / Total Assets 33.3b)
RoE = 1.00% (Net Income TTM 77.0m / Total Stockholder Equity 7.71b)
RoCE = 18.21% (EBIT 1.90b / Capital Employed (Equity 7.71b + L.T.Debt 2.73b))
RoIC = 9.02% (NOPAT 1.41b / Invested Capital 15.6b)
WACC = 6.14% (E(16.7b)/V(23.6b) * Re(7.86%) + D(6.96b)/V(23.6b) * Rd(2.76%) * (1-Tc(0.26)))
Discount Rate = 7.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 74.64 | Cagr: 0.14%
[DCF] Terminal Value 73.10% ; FCFF base≈1.89b ; Y1≈1.66b ; Y5≈1.34b
[DCF] Fair Price = 168.8 (EV 21.5b - Net Debt 6.07b = Equity 15.4b / Shares 91.4m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -34.73 | EPS CAGR: -3.50% | SUE: -1.50 | # QB: -2
Revenue Correlation: -18.99 | Revenue CAGR: -0.94% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=5.43 | Chg30d=-10.98% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=14.32 | Chg30d=-9.96% | Revisions=-40% | GrowthEPS=+3.1% | GrowthRev=-1.3%
EPS next Year (2027-12-31): EPS=16.70 | Chg30d=-2.83% | Revisions=-40% | GrowthEPS=+16.6% | GrowthRev=+8.7%
[Analyst] Revisions Ratio: -57% (up=0, down=4)