Cash flow Sweco AB

Equities

SWEC B

SE0014960373

Construction & Engineering

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2026-04-10 pm EDT			5-day change	1st Jan Change
142.70 ^SEK	+1.64%		+8.02%	-5.43%

Apr. 10	SEB trims Sweco price target to SEK 180 (185), reiterates Buy	FW
Apr. 09	PriorNilsson Evolve down 1.33 percent in March - Sweco added as new holding	FW

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Published financial data: SWECO AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	21.79B	24.3B	28.52B	30.68B	31.59B
Other Revenues, Total	-	31M	-	-	-
Total Revenues	21.79B	24.33B	28.52B	30.68B	31.59B
Cost of Goods Sold, Total	14.48B	16.09B	18.94B	20.23B	20.84B
Gross Profit	7.32B	8.24B	9.58B	10.44B	10.75B
Selling General & Admin Expenses, Total	4.23B	4.93B	5.84B	6.02B	5.98B
Depreciation & Amortization - (IS)	996M	1.02B	1.18B	1.27B	1.32B
Other Operating Expenses	10M	-	-39M	-32M	-44M
Other Operating Expenses, Total	5.23B	5.95B	6.97B	7.26B	7.26B
Operating Income	2.08B	2.29B	2.61B	3.19B	3.49B
Interest Expense, Total	-65M	-95M	-244M	-296M	-237M
Interest And Investment Income	5M	-	29M	47M	40M
Net Interest Expenses	-60M	-95M	-215M	-249M	-197M
Income (Loss) On Equity Invest.	1M	-	-	-	-
Currency Exchange Gains (Loss)	3M	-	-4M	1M	-
Other Non Operating Income (Expenses)	-22M	8M	-20M	-20M	-21M
EBT, Excl. Unusual Items	2B	2.2B	2.37B	2.92B	3.27B
Merger & Related Restructuring Charges	-112M	-43M	-192M	-168M	-286M
Gain (Loss) On Sale Of Investments	-	-	3M	-	-
Gain (Loss) On Sale Of Assets	21M	-	-	-	-
Asset Writedown	-17M	-	-	-4M	-2M
EBT, Incl. Unusual Items	1.9B	2.16B	2.18B	2.75B	2.98B
Income Tax Expense	405M	505M	513M	675M	759M
Earnings From Continuing Operations	1.49B	1.65B	1.67B	2.07B	2.23B
Net Income to Company	1.49B	1.65B	1.67B	2.07B	2.23B
Minority Interest	-	-1M	-	-	-
Net Income - (IS)	1.49B	1.65B	1.67B	2.07B	2.23B
Net Income to Common Incl Extra Items	1.49B	1.65B	1.67B	2.07B	2.23B
Net Income to Common Excl. Extra Items	1.49B	1.65B	1.67B	2.07B	2.23B
Per Share Items
Net EPS - Basic	4.18	4.61	4.64	5.76	6.18
Basic EPS - Continuing Operations	4.18	4.61	4.64	5.76	6.18
Basic Weighted Average Shares Outstanding	357M	358M	359M	360M	360M
Net EPS - Diluted	4.17	4.6	4.64	5.75	6.16
Diluted EPS - Continuing Operations	4.17	4.6	4.64	5.75	6.16
Diluted Weighted Average Shares Outstanding	358M	359M	360M	360M	361M
Normalized Basic EPS	3.51	3.84	4.13	5.07	5.68
Normalized Diluted EPS	3.5	3.83	4.12	5.06	5.66
Dividend Per Share	2.45	2.7	2.95	3.3	3.7
Payout Ratio	52.41	53.06	58.07	51.13	53.32
Supplemental Items
EBITDA	2.46B	2.64B	3.07B	3.65B	3.95B
EBITA	2.24B	2.42B	2.82B	3.38B	3.66B
EBIT	2.08B	2.29B	2.61B	3.19B	3.49B
EBITDAR	3.25B	-	-	3.72B	4.02B
Effective Tax Rate - (Ratio)	21.35	23.41	23.53	24.58	25.43
Total Current Taxes	302M	-	-	643M	640M
Total Deferred Taxes	103M	-	-	32M	120M
Normalized Net Income	1.25B	1.37B	1.48B	1.82B	2.05B
Interest on Long-Term Debt	46M	44M	68M	98M	115M
Non-Cash Pension Expense	2M	1M	1M	2M	1M
Supplemental Operating Expense Items
Net Rental Expense, Total	795M	-	-	73M	70M
Imputed Operating Lease Interest Expense	80.34M	-	-	25.77M	19.89M
Imputed Operating Lease Depreciation	715M	-	-	47.23M	50.11M
Stock-Based Comp., COGS (Total)	153M	-	-	-	-
Stock-Based Comp., Other (Total)	-	-	56M	104M	91M
Total Stock-Based Compensation	153M	-	56M	104M	91M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	896M	850M	1.1B	1.65B	1.48B
Total Cash And Short Term Investments	896M	850M	1.1B	1.65B	1.48B
Accounts Receivable, Total	5.95B	-	8.18B	9.21B	10.39B
Other Receivables	564M	-	715M	822M	760M
Total Receivables	6.51B	-	8.89B	10.04B	11.15B
Inventory	2M	-	6M	4M	6M
Prepaid Expenses	454M	-	775M	501M	547M
Other Current Assets, Total	-	8.25B	-	-1M	2M
Total Current Assets	7.86B	9.1B	10.78B	12.19B	13.19B
Gross Property Plant And Equipment	4.23B	-	4.44B	5.7B	5.83B
Accumulated Depreciation	-1.21B	-	-1.21B	-1.37B	-1.47B
Net Property Plant And Equipment	3.02B	3.03B	3.23B	4.33B	4.37B
Long-term Investments	12M	-	13M	13M	13M
Goodwill	8.14B	9.2B	10.46B	10.84B	11.16B
Other Intangibles, Total	284M	273M	754M	613M	902M
Accounts Receivable Long-Term	-	-	9M	9M	8M
Deferred Tax Assets Long-Term	228M	-	207M	152M	111M
Deferred Charges Long-Term	-	-	-	90M	87M
Other Long-Term Assets, Total	107M	319M	55M	55M	53M
Total Assets	19.66B	21.92B	25.51B	28.3B	29.89B
Liabilities
Accounts Payable, Total	662M	-	925M	886M	902M
Accrued Expenses, Total	2.86B	-	3.57B	3.71B	3.79B
Short-term Borrowings	4M	-	1.44B	1.17B	1.33B
Current Portion of Long-Term Debt	-	516M	-	-	1M
Current Portion of Leases	727M	773M	805M	857M	957M
Current Income Taxes Payable	139M	-	195M	256M	176M
Unearned Revenue Current, Total	1.56B	-	1.94B	2.95B	3.99B
Other Current Liabilities	540M	6.76B	721M	839M	896M
Total Current Liabilities	6.49B	8.04B	9.59B	10.67B	12.05B
Long-Term Debt	1.8B	1.41B	2.63B	2B	1.53B
Long-Term Leases	1.88B	1.74B	1.77B	2.74B	2.75B
Pension & Other Post Retirement Benefits	158M	-	145M	151M	123M
Deferred Tax Liability Non Current	544M	-	682M	694M	896M
Other Non Current Liabilities	172M	778M	106M	113M	116M
Total Liabilities	11.05B	11.97B	14.92B	16.37B	17.47B
Common Stock, Total	121M	9.94B	121M	121M	121M
Additional Paid In Capital	3.09B	-	3.09B	3.09B	3.09B
Retained Earnings	5.31B	-	6.93B	8.05B	9.19B
Comprehensive Income and Other	74M	-	450M	661M	20M
Total Common Equity	8.59B	9.94B	10.59B	11.92B	12.42B
Minority Interest	10M	4M	5M	5M	5M
Total Equity	8.6B	9.94B	10.6B	11.92B	12.42B
Total Liabilities And Equity	19.66B	21.92B	25.51B	28.3B	29.89B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	357M	359M	359M	360M	361M
ECS Total Common Shares Outstanding	357M	359M	359M	360M	361M
Book Value / Share	24.04	27.71	29.49	33.13	34.43
Tangible Book Value	167M	468M	-629M	470M	356M
Tangible Book Value Per Share	0.47	1.31	-1.75	1.31	0.99
Total Debt	4.42B	4.44B	6.64B	6.78B	6.57B
Net Debt	3.52B	3.59B	5.54B	5.12B	5.09B
Debt Equivalent of Unfunded Proj. Benefit Obligation	143M	94M	106M	105M	81M
Debt Equivalent Oper. Leases	6.36B	-	-	584M	560M
Minority Interest, Total (Incl. Fin. Div)	10M	4M	5M	5M	5M
Equity Method Investments, Total	2M	-	3M	3M	3M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	2M	-	-	2M	-
Buildings, Total	52M	-	89M	87M	79M
Machinery, Total	1.67B	-	1.83B	2.08B	2.27B
Full Time Employees	19.13K	18.65K	20.16K	20.82K	23.56K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	108M	-	176M	206M	206M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.49B	1.65B	1.67B	2.07B	2.23B
Depreciation & Amortization - CF	943M	983M	1.14B	1.23B	1.28B
Amortization of Goodwill and Intangible Assets - (CF)	154M	133M	214M	194M	171M
Depreciation & Amortization, Total	1.1B	1.12B	1.35B	1.43B	1.45B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	29M
(Gain) Loss From Sale Of Asset	-21M	-	-11M	-15M	46M
Asset Writedown & Restructuring Costs	17M	-	3M	4M	2M
Stock-Based Compensation (CF)	153M	-	56M	104M	91M
Other Operating Activities, Total	33M	160M	-36M	72M	87M
Change In Accounts Receivable	-346M	-	-796M	-458M	-1.41B
Change in Other Net Operating Assets	-226M	-412M	270M	857M	1.49B
Cash from Operations	2.2B	2.52B	2.5B	4.06B	4.01B
Capital Expenditure	-199M	-302M	-336M	-363M	-394M
Sale of Property, Plant, and Equipment	6M	-	12M	14M	8M
Cash Acquisitions	-363M	-610M	-1.69B	-182M	-1.05B
Divestitures	17M	-	-	12M	-23M
Sale (Purchase) of Intangible assets	-36M	-	-34M	-25M	-29M
Investment in Marketable and Equity Securities, Total	1M	-	5M	-	-
Other Investing Activities, Total	-4M	5M	-3M	-5M	-8M
Cash from Investing	-578M	-907M	-2.04B	-549M	-1.5B
Long-Term Debt Issued, Total	2.8B	-	7.43B	5.92B	5.48B
Total Debt Issued	2.8B	-	7.43B	5.92B	5.48B
Long-Term Debt Repaid, Total	-4.86B	-812M	-6.67B	-7.81B	-6.88B
Total Debt Repaid	-4.86B	-812M	-6.67B	-7.81B	-6.88B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-782M	-876M	-968M	-1.06B	-1.19B
Common & Preferred Stock Dividends Paid	-782M	-876M	-968M	-1.06B	-1.19B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-2.84B	-1.69B	-203M	-2.94B	-2.58B
Foreign Exchange Rate Adjustments	28M	-	-6M	-18M	-109M
Net Change in Cash	-1.19B	-80M	253M	551M	-176M
Supplemental Items
Cash Interest Paid	20M	44M	239M	302M	245M
Cash Income Tax Paid (Refund)	432M	389M	525M	617M	741M
Levered Free Cash Flow	1.69B	1.9B	1.68B	3.38B	3.13B
Unlevered Free Cash Flow	1.73B	1.96B	1.83B	3.56B	3.28B
Change In Net Working Capital	586M	283M	838M	-429M	47M
Net Debt Issued / Repaid	-2.06B	-812M	765M	-1.88B	-1.39B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.57	6.88	6.87	7.4	7.5
Return on Total Capital	9.84	10.43	10.31	11.08	11.58
Return On Equity %	18.46	17.81	16.23	18.39	18.29
Return on Common Equity	18.49	17.82	16.24	18.4	18.29
Margin Analysis
Gross Profit Margin %	33.57	33.87	33.59	34.05	34.02
SG&A Margin	19.39	20.27	20.46	19.62	18.94
EBITDA Margin %	11.27	10.84	10.75	11.9	12.52
EBITA Margin %	10.27	9.95	9.89	11.02	11.59
EBIT Margin %	9.56	9.4	9.14	10.39	11.05
Income From Continuing Operations Margin %	6.85	6.79	5.84	6.75	7.05
Net Income Margin %	6.85	6.79	5.84	6.75	7.05
Net Avail. For Common Margin %	6.85	6.79	5.84	6.75	7.05
Normalized Net Income Margin	5.75	5.65	5.19	5.95	6.48
Levered Free Cash Flow Margin	7.76	7.81	5.88	11.01	9.92
Unlevered Free Cash Flow Margin	7.94	8.06	6.41	11.62	10.39
Asset Turnover
Asset Turnover	1.1	1.17	1.2	1.14	1.09
Fixed Assets Turnover	6.98	8.05	9.12	8.11	7.26
Receivables Turnover (Average Receivables)	3.82	-	3.76	3.53	3.22
Inventory Turnover (Average Inventory)	5.79K	-	3.16K	4.05K	4.17K
Short Term Liquidity
Current Ratio	1.21	1.13	1.12	1.14	1.09
Quick Ratio	1.14	0.11	1.04	1.1	1.05
Operating Cash Flow to Current Liabilities	0.34	0.31	0.26	0.38	0.33
Days Sales Outstanding (Average Receivables)	95.45	-	97.07	103.76	113.29
Days Outstanding Inventory (Average Inventory)	0.06	-	0.12	0.09	0.09
Average Days Payable Outstanding	14.16	-	19.3	16.38	15.66
Cash Conversion Cycle (Average Days)	81.36	-	77.89	87.47	97.72
Long Term Solvency
Total Debt/Equity	51.37	44.64	62.67	56.83	52.9
Total Debt / Total Capital	33.94	30.86	38.53	36.24	34.6
LT Debt/Equity	42.88	31.68	41.51	39.82	34.45
Long-Term Debt / Total Capital	28.32	21.9	25.52	25.39	22.53
Total Liabilities / Total Assets	56.23	54.63	58.47	57.86	58.44
EBIT / Interest Expense	32.05	24.07	10.69	10.76	14.73
EBITDA / Interest Expense	48.92	35.82	16.23	15.58	20.84
(EBITDA - Capex) / Interest Expense	45.86	32.64	14.85	14.36	19.18
Total Debt / EBITDA	1.39	1.3	1.68	1.47	1.33
Net Debt / EBITDA	1.11	1.05	1.4	1.11	1.03
Total Debt / (EBITDA - Capex)	1.48	1.43	1.83	1.59	1.45
Net Debt / (EBITDA - Capex)	1.18	1.16	1.53	1.21	1.12
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.48	11.58	17.4	7.55	2.97
Gross Profit, 1 Yr. Growth %	4.51	12.48	16.7	9.02	2.89
EBITDA, 1 Yr. Growth %	10.79	7.15	16.53	18.96	8.96
EBITA, 1 Yr. Growth %	12.47	8.37	16.61	19.65	9.05
EBIT, 1 Yr. Growth %	12.41	10	14.04	22.02	9.47
Earnings From Cont. Operations, 1 Yr. Growth %	15.39	10.72	0.91	24.24	7.48
Net Income, 1 Yr. Growth %	15.48	10.66	0.97	24.24	7.48
Normalized Net Income, 1 Yr. Growth %	14.41	9.86	7.76	23.02	12.05
Diluted EPS Before Extra, 1 Yr. Growth %	16.48	10.31	0.87	23.92	7.13
Accounts Receivable, 1 Yr. Growth %	9.18	-	16.98	12.65	12.81
Inventory, 1 Yr. Growth %	-33.33	-	0	-33.33	50
Net Property, Plant and Equip., 1 Yr. Growth %	-6.39	0.3	6.74	34.14	0.78
Total Assets, 1 Yr. Growth %	-1.46	11.49	16.41	10.91	5.63
Tangible Book Value, 1 Yr. Growth %	-143.38	180.24	-234.4	-187.69	-24.26
Common Equity, 1 Yr. Growth %	13.86	15.65	6.55	12.54	4.19
Cash From Operations, 1 Yr. Growth %	-32.32	14.37	-0.44	62.22	-1.26
Capital Expenditures, 1 Yr. Growth %	6.42	31.88	22.63	8.04	8.54
Levered Free Cash Flow, 1 Yr. Growth %	-44.22	22.87	-14.93	101.28	-7.32
Unlevered Free Cash Flow, 1 Yr. Growth %	-43.86	22.65	-9.43	94.62	-7.97
Dividend Per Share, 1 Yr. Growth %	11.36	10.2	9.26	11.86	12.12
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.78	8	14.38	12.37	5.23
Gross Profit, 2 Yr. CAGR %	0.43	8.5	14.35	12.79	5.91
EBITDA, 2 Yr. CAGR %	4.16	9.07	11.64	17.8	13.51
EBITA, 2 Yr. CAGR %	5.23	10.3	12.42	18.18	13.85
EBIT, 2 Yr. CAGR %	5.51	11.1	12	18.03	15.63
Earnings From Cont. Operations, 2 Yr. CAGR %	3.49	13.03	5.7	11.97	15.56
Net Income, 2 Yr. CAGR %	3.49	13.04	5.7	12	15.56
Normalized Net Income, 2 Yr. CAGR %	6.58	12	8.81	15.21	17.47
Diluted EPS Before Extra, 2 Yr. CAGR %	4.21	13.35	5.48	11.8	15.22
Accounts Receivable, 2 Yr. CAGR %	0.38	-	-	14.8	12.73
Inventory, 2 Yr. CAGR %	-18.35	-	-	-18.35	0
Net Property, Plant and Equip., 2 Yr. CAGR %	-8.73	-3.1	3.47	19.66	16.27
Total Assets, 2 Yr. CAGR %	0.91	4.82	13.92	13.62	8.24
Tangible Book Value, 2 Yr. CAGR %	-49.54	10.25	94.07	0.21	-18.5
Common Equity, 2 Yr. CAGR %	9.6	14.75	11.01	9.5	8.28
Cash From Operations, 2 Yr. CAGR %	-2.2	-12.02	6.71	27.09	26.56
Capital Expenditures, 2 Yr. CAGR %	-6.16	27.08	21.13	15.1	8.29
Levered Free Cash Flow, 2 Yr. CAGR %	2.93	-20.79	4.1	30.93	36.62
Unlevered Free Cash Flow, 2 Yr. CAGR %	2.01	-20.26	6.97	32.84	33.86
Dividend Per Share, 2 Yr. CAGR %	53.98	10.78	9.73	10.55	11.99
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.17	5.65	11	12.05	9.14
Gross Profit, 3 Yr. CAGR %	3.26	4.35	11.03	12.55	9.39
EBITDA, 3 Yr. CAGR %	6.79	5.22	11.43	14.07	14.54
EBITA, 3 Yr. CAGR %	7.45	6.21	12.37	14.82	14.81
EBIT, 3 Yr. CAGR %	7.28	6.92	12.07	15.29	15.14
Earnings From Cont. Operations, 3 Yr. CAGR %	5.94	5.85	8.84	11.55	10.45
Net Income, 3 Yr. CAGR %	5.96	5.83	8.87	11.55	10.47
Normalized Net Income, 3 Yr. CAGR %	8.35	7.59	10.57	13.4	14.19
Diluted EPS Before Extra, 3 Yr. CAGR %	6.52	6.2	9.03	11.3	10.22
Accounts Receivable, 3 Yr. CAGR %	3.36	-	14.5	-	14.13
Inventory, 3 Yr. CAGR %	-44.97	-	25.99	-	0
Net Property, Plant and Equip., 3 Yr. CAGR %	-2.97	-5.82	0.07	12.82	13
Total Assets, 3 Yr. CAGR %	4.16	4.32	8.55	12.91	10.9
Tangible Book Value, 3 Yr. CAGR %	-39.58	-10.65	17.78	41.19	-8.71
Common Equity, 3 Yr. CAGR %	11.75	11.58	11.95	11.52	7.7
Cash From Operations, 3 Yr. CAGR %	2.35	3.04	-8.32	22.7	16.83
Capital Expenditures, 3 Yr. CAGR %	-9.22	10.15	21.57	16.6	12.87
Levered Free Cash Flow, 3 Yr. CAGR %	3.7	6.02	-17.9	29.73	16.71
Unlevered Free Cash Flow, 3 Yr. CAGR %	3.12	5.63	-15.98	30.63	17.56
Dividend Per Share, 3 Yr. CAGR %	10.15	37.74	10.27	10.44	11.07
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.68	7.57	8.77	8.26	8.65
Gross Profit, 5 Yr. CAGR %	5.28	6.73	7.59	7.57	8.95
EBITDA, 5 Yr. CAGR %	7.65	7.54	8.75	10.04	12.28
EBITA, 5 Yr. CAGR %	8.72	8.61	9.37	10.84	12.98
EBIT, 5 Yr. CAGR %	9.27	8.9	9.1	11.23	13.5
Earnings From Cont. Operations, 5 Yr. CAGR %	9.89	6.2	5.84	8.25	11.48
Net Income, 5 Yr. CAGR %	9.92	6.22	5.86	8.25	11.49
Normalized Net Income, 5 Yr. CAGR %	9	8.79	8.49	10.58	13.31
Diluted EPS Before Extra, 5 Yr. CAGR %	10.34	6.57	6.11	8.41	11.47
Accounts Receivable, 5 Yr. CAGR %	3.14	-	8.71	9.31	13.79
Inventory, 5 Yr. CAGR %	-32.24	-	-12.94	5.92	14.87
Net Property, Plant and Equip., 5 Yr. CAGR %	37.41	37.76	-0.45	3.65	6.26
Total Assets, 5 Yr. CAGR %	7.3	8.95	7.96	7.95	8.42
Tangible Book Value, 5 Yr. CAGR %	-30.37	-5.65	-3.64	-6.45	-1.55
Common Equity, 5 Yr. CAGR %	9.64	10.74	11.45	10.75	10.47
Cash From Operations, 5 Yr. CAGR %	13.55	18.86	4.07	12.06	4.3
Capital Expenditures, 5 Yr. CAGR %	-1.35	5.6	4.78	9.94	16.07
Levered Free Cash Flow, 5 Yr. CAGR %	14.84	22.16	2.03	16.19	0.67
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.65	22.18	2.99	16.46	1.25
Dividend Per Share, 5 Yr. CAGR %	11.32	10.13	9.98	26.14	10.96