5 models fit Skanska AB (publ) and they disagree: 1 of 5 land within 15% of the average.
Two or more of our models back this value.
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Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionSkanska AB (publ) (SKA-B.ST)
Fair value (5 models)
kr 213
ACCE price target
kr 259
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 12:04 CEST.
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Rating published on 22 Oct 2026, 12:04 CEST.
Price used: kr 271 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
27.0% above
-21.3% to fair value
ACCE score
62
out of 100
P/E
16.9x
forward 16.1x
1-year return
+2.3%
Dividend yield
3.18%
Skanska AB (publ) in four questions
Plain answers, details below
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Overview
ACCE thesis
Skanska builds and develops commercial property, residential projects, and infrastructure, with a large presence in Sweden, the US, and parts of Europe, and it runs its own development portfolio alongside its contracting arm. The case rests on scale and a long-established position in Nordic and US construction, where a 110.6B SEK market cap and a 16.7x trailing P/E sit against 4.1% revenue growth and an 11.1% ROE. Near-term, the thesis depends on infrastructure and data-centre style projects in the US and on whether Swedish construction demand recovers from a weak cycle. What makes the name worth a closer look is the valuation: at 15.8x forward earnings, the shares are not expensive for a contractor with a 5.0% operating margin and a balance sheet that has to carry project risk, so the question for the deeper work is whether that margin can widen as the mix shifts toward development and infrastructure.