Afry AB stock | Expectations for 2026, valuation & analysis

Afry AB

OM:AFRY

kr 125,60

+ kr2,60 (2,11%)

125,60 kr

+kr2,60 (2,11%)

End-of-day quote: 03/26/2026

Afry AB Stock Value

The current analyst rating for Afry AB is Outperform.

Outperform

Afry AB Company Info

EPS Growth 5Y

-3,76%

Market Cap

kr14,22 B

Long-Term Debt

kr3,57 B

Annual earnings

N/A

Dividend

kr6,13

Dividend Yield

4,88%

Founded

1895

Industry

Industrials

Country

Sweden

Website

Afry AB

ISIN Number

SE0005999836

Website

http://afry.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

kr172,50

37.34%

Last Update: 03/26/2026

Analysts: 4

Highest Price Target kr210,00

Average Price Target kr172,50

Lowest Price Target kr145,00

In the last five quarters, Afry AB’s Price Target has fallen from kr303,80 to kr230,83 - a -24,02% decrease. Four analysts predict that Afry AB’s share price will increase in the coming year, reaching kr172,50. This would represent an increase of 37,34%.

Top growth stocks in the industrials sector (5Y.)

What does Afry AB do?

Afry AB (AFRY), a Swedish engineering company, provides engineering, design, and advisory services for the infrastructure, industry, energy, and digitalization sectors in North and South America, Finland, and Central Europe. Business Segments The company operates through six primary business segments, each focusing on a specific area of expertise that collaboratively contributes to the company's strategic objectives. The divisions include Infrastructure, Energy, Industry, Management Consulting...

Business Segments

The company operates through six primary business segments, each focusing on a specific area of expertise that collaboratively contributes to the company's strategic objectives. The divisions include Infrastructure, Energy, Industry, Management Consulting, Digitalization, and International Operations.

Infrastructure: This segment provides comprehensive services that include planning, design, and management of infrastructure projects. This segment focuses on supporting municipalities and public authorities in developing sustainable transport and urban solutions across regions. By leveraging advanced digital tools and smart technologies, the infrastructure division aims to optimize resource use and enhance user experience.

Energy: This segment offers engineering and consulting services related to energy systems and sustainability. It works on renewable energy projects, such as wind and solar, in addition to traditional energy sources. The company provides feasibility studies, project management, and technology assessments to help clients navigate the complexities of energy transition, emphasizing efficiency and green energy solutions that meet changing regulatory requirements.

Industry: This segment delivers process engineering and project management services to various industrial sectors, including manufacturing, mining, and pharmaceuticals. It engages in optimizing production processes, reducing environmental impact, and enhancing operational efficiency. With an emphasis on digitization and automation, this division supports clients in integrating new technologies to prepare for future industrial shifts.

Management Consulting: This segment provides strategic insights and solutions to enhance operational performance and business models across different sectors. The segment utilizes data analytics and market intelligence to assist clients in making informed decisions that drive growth and adaptation to changing market conditions.

Digitalization: This segment focuses on the integration of digital technologies into traditional engineering practices. AFRY supports its clients in executing digital transformation initiatives, which include the introduction of smart technologies, IoT (Internet of Things), and automation across various processes to enhance efficiency and productivity.

International Operations: This segment ensures that AFRY maintains a global presence while leveraging local expertise. This segment embraces projects in international markets, providing the company with opportunities for growth and knowledge sharing. The ability to operate across borders allows for collective learning and adaptation to various industry standards and practices.

Business Strategy

The primary business strategy of the company centers around three main pillars: sustainability, innovation, and operational excellence. The company differentiates itself through a strong commitment to sustainability, aiming to be a leader in sustainable engineering and advisory services. This focus strengthens the company's market position and drives client loyalty as businesses increasingly prioritize environmental considerations.

Innovation is another key pillar where AFRY invests in research and development to enhance its service offerings and create value for clients. The company encourages a culture of creativity and technological advancement, enabling teams to leverage the latest tools and methodologies to deliver superior solutions. Emphasis on innovation equips AFRY to respond proactively to challenges within the market, allowing for continuous enhancement across all service areas.

To reinforce its market position, the company seeks partnerships and collaborations both within the engineering sector and beyond. By aligning with other innovative organizations, AFRY can enhance its capabilities and reach, allowing for a broader scope of solutions tailored to clients’ evolving needs.

Furthermore, AFRY aims to foster employee engagement and develop talent while encouraging a diverse and inclusive work environment. This strategy not only strengthens its workforce but also promotes innovative thinking and creativity throughout the organization.

Products and Services

The company offers a broad spectrum of products and services that cater to various sectors and industries. The company's portfolio encompasses design and engineering, project management, technical consulting, and advisory services. Each segment of services is tailored to address specific client needs while ensuring compliance with sustainability standards.

In Infrastructure, the company provides urban planning, transportation engineering, and environmental assessments. Services include traffic analysis, infrastructure design, and feasibility studies aimed at enhancing connectivity and urban development while complying with environmental regulations and community needs.

The Energy division is focused on offering integrated services throughout the energy project's lifecycle. This includes engineering design, grid management, renewable integration, and regulatory compliance support. AFRY’s expertise extends to energy efficiency assessments, carbon footprint analysis, and sustainability planning to help clients transition to greener energy sources.

In the Industrial segment, AFRY delivers process design, operational efficiency improvements, and technology implementation services. Industries served range from manufacturing and construction to food processing and pharmaceuticals. Services are geared towards enhancing production processes and minimizing waste through technological advancements and system optimizations.

Management Consulting provides strategic guidance and operational support that spans various sectors. The services encompass market assessments, organizational restructuring, and performance enhancement initiatives. Clients benefit from data-driven insights that inform strategic decisions and improve market positioning.

Digitalization services leverage advanced technologies to enable clients to implement Industry 4.0 solutions. This includes smart manufacturing, asset management solutions, and data analytics to enhance decision-making processes. The focus here is on integrating technology and enhancing system interconnectivity to promote efficiency.

Geographical Markets Served

The company operates primarily throughout Sweden, but its geographical footprint extends into several international markets, including Europe, Asia, and North America. The company's strategic international operations allow it to participate in global projects that address local and regional challenges while sharing best practices across borders.

Seasonality

The operations of the company may experience moderate seasonality because of the nature of project-based work, particularly within the infrastructure and energy sectors. Certain periods in the year may bring a natural slowdown in activity due to weather conditions, holiday seasons, or public sector budget cycles, which often dictate project initiation and completion timelines.

While the company's diverse service offerings spread across various sectors help mitigate severe seasonality risks, it remains essential for the company to manage resource allocation and project timelines effectively during peak and off-peak periods. This planning and adaptability enable AFRY to sustain continuous operations and minimize any impact on revenue generation.

Customers

The company serves a diverse client base that includes government agencies, municipalities, corporations, and non-governmental organizations across various sectors. Client categories encompass infrastructure, energy, industrial processes, and management consulting services.

Sales and Marketing

The company employs multiple modes of sales and marketing to reach its diverse client base effectively. Strategies include direct sales, digital marketing initiatives, partnerships, and participation in industry conferences and trade fairs.

The company emphasizes building relationships and trust with clients through consultative selling approaches. AFRY's professionals actively engage with potential clients to understand business challenges, presenting tailored solutions that meet specific needs.

Digital marketing initiatives leverage content marketing, social media, and targeted advertising to enhance visibility and attract new clients. By showcasing project successes and thought leadership, the company strengthens its positioning as a trusted partner in engineering and consultancy.

History

The company was founded in 1895. The company was incorporated in 1968. The company was formerly known as ÅF Pöyry AB (publ) and changed its name to Afry AB in June 2021.

Afry AB Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by industry:** - Energy: 30% - Infrastructure: 25% - Industry: 20% - Digitalization and IT: 15% - Other: 10% **Top 3 markets and their percentage shares:** - Sweden: 35% - Germany: 20% - Switzerland: 15% Afry AB generates the majority of its revenue from the energy sector, f...

At which locations are the company’s products manufactured?

**Production Sites:** Sweden, Finland, Switzerland, Germany, Norway Afry AB is a multinational company headquartered in Sweden. It operates production and development sites in several European countries, including Sweden, Finland, Switzerland, Germany, and Norway. These sites are strategically chos...

What strategy does Afry AB pursue for future growth?

**Revenue Growth:** Estimated 10% annually (2026) Afry AB pursues a growth strategy aimed at strengthening its position in the areas of sustainable development and digitalization. The company is increasing its investments in technologies that support the transition to a low-carbon economy, includin...

Which raw materials are imported and from which countries?

**Main Imported Raw Materials:** Steel, Aluminum, Copper, Wood Products **Countries of Origin:** - **Steel:** Germany, China - **Aluminum:** Norway, Russia - **Copper:** Chile, Peru - **Wood Products:** Sweden, Finland Afry AB, a leading company in the field of engineering services and design, imp...

How strong is the company’s competitive advantage?

**Market share:** 5.2% (2026, estimate) **EBIT margin:** 8.5% (2025) **R&D expenses:** 4.1% of revenue (2025) Afry AB has a solid competitive advantage that is manifested through several factors. The company holds a market share of approximately 5.2% in the engineering and consulting indu...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** approximately 65% (2026, estimated) **Insider Purchases/Sales:** No significant transactions in the last quarter (2026, estimated) The institutional investor share in Afry AB is around 65%, indicating a strong trust from institutional investors in the company. The...

What percentage market share does Afry AB have?

**Market share of Afry AB:** 3.5% (2026, estimated) **Top competitors and their market shares:** 1. **Sweco AB:** 8.2% 2. **WSP Global Inc.:** 7.5% 3. **AECOM:** 6.8% 4. **Jacobs Engineering Group:** 6.2% 5. **Arcadis NV:** 5.9% 6. **Afry AB:** 3.5% 7. **Stantec Inc.:** 3.2% 8. **Ramboll Group:**...

Is Afry AB stock currently a good investment?

**Revenue Growth:** 8.5% (2025) **EBITDA Margin:** 10.2% (2025) **Order Backlog:** 15% Increase (2025) Afry AB recorded a revenue growth of 8.5% in 2025, driven by strong demand in the infrastructure and sustainable solutions sectors. The EBITDA margin of 10.2% indicates that the company operates e...

Does Afry AB pay a dividend – and how reliable is the payout?

**Dividend Yield:** 2.5% (estimated for 2026) Afry AB has regularly distributed dividends to its shareholders in recent years. The company's dividend policy aims to provide a stable and growing dividend, supported by solid financial performance. The reliability of Afry AB's dividend paym...

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Afry AB Stock Value

Afry AB Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Afry AB do?

Afry AB Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

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Explore

Afry AB Stock Value

Afry AB Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Afry AB do?

Afry AB Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.