Alfa Laval AB (publ) ALFVY

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsSweden

Last close 55.34 USD on Nov 3, 2026, +12.0% year to date

Quant rating

Quant rating A Rank 26 of 418 in Industrials

Growth A 45 of 418
Valuation B 148 of 418
Quality A 35 of 418
Revisions A 45 of 418
Momentum C 168 of 418

Wall Street consensus Hold (2.65)Average target 61.48 USD +11.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 23.0B
Enterprise value: 24.4B
52-week range: 44.78 – 62.95
3-year range: 33.29 – 62.95
Dividend yield: 1.75%
Beta (5 years): 1.07
Shares outstanding: 413M
Next earnings: Feb 3, 2027

About the company

Alfa Laval AB is a Sweden-based company engaged in the development, manufacture and marketing of products and solutions for heat transfer, separation and fluid handling. The Company’s products are used in various industries, including production of chemicals, starch, paper, metals, sugar and ethanol. Its solutions are also used onboard vessels and in the engineering sector, mining industry and refinery sector, as well as for treating wastewater and creating a comfortable indoor climate. The Company's operations are divided into four business divisions that serve external customers: Energy, Food and Water, Marine, and Greenhouse. Additionally, it operates one shared division for procurement, production and distribution.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	7,574	6,056	6,317	5,009	4,526	–
Revenue growth	25.1%	−4.1%	26.1%	10.7%	−10.3%	8.5%
EPS (basic, normalized)	2.37	1.75	1.63	1.05	1.24	–
EPS growth	35.4%	7.2%	55.4%	−15.1%	–	–
Gross margin	36.2%	34.7%	32.8%	33.8%	35.5%	34.6%
Net margin	11.9%	11.0%	10.0%	8.6%	11.6%	10.6%
ROE	19.4%	18.7%	17.5%	13.3%	15.6%	16.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	721
Current ratio	1.21x
Long-term debt (mil)	1,380
Net debt (mil)	1,429
Total equity (mil)	4,952
Net debt / equity	0.29x
Net debt / EBITDA	0.89x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	7,574	+25.1%	3.2x	1,602	+33.7%	15.2x	2.37	+35.4%	23.3x
2026	7,547	−0.4%	3.2x	1,548	−3.4%	15.8x	2.31	−2.6%	24.0x
2027	8,536	+13.1%	2.9x	1,780	+15.0%	13.7x	2.72	+17.8%	20.3x
2028	9,318	+9.2%	2.6x	1,958	+10.0%	12.5x	3.00	+10.3%	18.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	7,547	+0.3%	+0.4%	+2.7%	2.31	+0.4%	+0.3%	+1.1%
2027	8,536	+2.4%	+2.9%	+8.8%	2.72	+1.7%	+2.6%	+9.4%
2028	9,318	+3.8%	+4.5%	+12.2%	3.00	+4.7%	+6.2%	+12.5%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	14,906	17,530	16,208	18,311	16,465	16,819	17,244	19,146	15,919	18,117
Sales mean (mil)	15,746	17,319	17,428	19,005	16,523	17,493	16,824	18,846	16,819	17,883
Surprise	−5.3%	+1.2%	−7.0%	−3.7%	−0.4%	−3.9%	+2.5%	+1.6%	−5.3%	+1.3%
EPS reported	4.65	4.54	5.08	5.20	5.10	5.16	5.94	5.22	5.02	5.33
EPS mean	4.18	4.63	4.85	5.61	4.99	5.25	5.37	5.82	5.08	5.79
Surprise	+11.2%	−2.0%	+4.8%	−7.3%	+2.2%	−1.7%	+10.6%	−10.3%	−1.2%	−7.9%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ALFVY Alfa Laval AB (publ)	23.0B	0.89x	11.9%	4.53x	24.0x	20.3x	15.8x	13.7x
HUBB Hubbell Inc	23.7B	3.38x	15.2%	5.78x	21.9x	19.5x	16.9x	14.8x
SYM Symbotic Inc.	22.7B	−8.96x	−0.8%	6.83x	69.6x	52.8x	63.3x	43.5x
XYL Xylem Inc	22.1B	1.21x	10.6%	2.16x	17.7x	16.5x	11.9x	11.2x
NVT nVent Electric PLC	20.9B	1.07x	11.0%	5.08x	24.0x	18.4x	16.7x	12.8x
VACNY VAT Group AG	20.8B	–	20.0%	24.85x	5.3x	3.0x	39.3x	23.4x
Mean		−0.48x	11.3%	8.20x	27.1x	21.8x	27.3x	19.9x
Median		1.07x	11.4%	5.43x	22.9x	19.0x	16.8x	14.3x

Technical analysis

1M−1.3%
3M−6.7%
1Y+19.6%
3Y+71.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Alfa Laval AB (publ), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	7,574	6,056	6,317	5,009	4,526	5,048
Cost of revenue	4,835	3,957	4,243	3,314	2,921	3,312
Gross profit	2,739	2,099	2,075	1,695	1,605	1,736
Selling, general & administrative expenses	1,076	873	862	707	668	681
Research & development	185	146	154	129	122	125
Depreciation/amortization	110	85.4	75.5	75.5	57.7	61.5
Interest expense (income), operating	0.2	−3.0	−5.2	−4.6	−8.4	−2.7
Unusual expense (income)	8.7	–	0	73.7	21.2	96.9
Other operating expenses	81.4	54.4	69.2	88.3	66.8	94.6
Operating income	1,277	944	919	626	678	679
Net interest income (expense)	−60.0	−39.8	−60.2	−32.7	1.8	−73.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.1	0.1	0	0	0	0
Net income before taxes	1,217	904	859	594	679	606
Provision for taxes	313	232	225	155	148	170
Minority interest	−5.4	−3.7	−5.1	−6.3	−4.6	−3.3
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	899	669	629	433	526	433
Extraordinary items	–	–	–	–	–	–
Net income	899	669	629	433	526	433
EBIT, normalized	1,286	941	914	695	688	766
EBITDA, normalized	1,558	1,160	1,165	924	907	1,007
Basic EPS, normalized	2.37	1.75	1.63	1.05	1.24	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Alfa Laval AB (publ), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	851	707	582	448	403	946
Receivables	1,995	1,622	1,639	1,524	1,235	1,176
Total inventory	1,690	1,409	1,485	1,420	1,164	1,123
Prepaid expenses	74.5	49.9	54.0	43.2	37.1	39.3
Other current assets	60.1	18.0	37.1	67.7	53.4	78.4
Total current assets	4,671	3,805	3,797	3,503	2,893	3,362
Property, plant & equipment	1,756	1,311	1,169	1,029	1,004	1,013
Goodwill	3,231	2,318	2,490	2,523	2,487	2,323
Intangibles	699	355	452	496	381	268
Long-term investments	33.3	39.1	53.8	45.6	154	192
Note receivable	–	–	–	–	–	–
Other long-term assets	281	204	211	211	201	251
Total assets	10,671	8,033	8,174	7,807	7,120	7,409
Liabilities
Accounts payable	592	488	484	470	373	307
Payable/accrued	–	–	–	–	–	–
Accrued expenses	462	261	271	260	248	260
Short-term debt	0	25.3	33.2	126	14.5	28.2
Current portion of long-term debt	875	211	454	185	681	218
Other current liabilities	2,024	1,859	1,713	1,510	1,259	1,309
Total current liabilities	3,953	2,845	2,956	2,552	2,576	2,123
Long-term debt	1,409	993	1,123	1,433	499	1,171
Minority interest	37.4	33.4	34.3	30.9	27.4	19.8
Other liabilities	553	370	383	392	467	576
Total liabilities	5,952	4,241	4,495	4,407	3,569	3,890
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	121	101	111	107	124	136
Additional paid-in capital	301	251	275	266	306	337
Retained earnings (accumulated deficit)	4,793	3,557	3,482	3,007	3,312	3,509
Treasury stock	–	–	–	–	–	–
Other equity	−496	−118	−190	18.8	−191	−463
Total equity	4,719	3,791	3,679	3,400	3,551	3,519
Total liabilities & shareholders' equity	10,671	8,033	8,174	7,807	7,120	7,409

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Alfa Laval AB (publ), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,277	944	919	626	678	679
Depreciation, depletion & amortization	272	219	251	230	220	286
Deferred taxes	–	–	–	–	–	–
Non-cash items	33.4	−2.3	−41.6	10.1	16.3	48.3
Changes in working capital	−586	−4.5	−218	−550	−331	−73.4
Cash from operations	996	1,156	911	316	582	940
Investing activities
Capital expenditures	−289	−302	−242	−178	−136	−150
Other investing cash flows	−1,006	5.0	−24.5	−352	−420	21.2
Cash from investing	−1,295	−297	−267	−530	−556	−129
Financing activities
Financing cash flow items	−85.2	−40.9	−136	25.3	331	−496
Cash dividends paid	−382	−280	−246	−238	−255	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	784	−344	−168	510	−306	−346
Cash from financing	317	−665	−551	297	−230	−842
Foreign exchange effects	−44.9	8.5	−15.5	12.5	5.3	−23.4
Net change in cash	−26.6	202	77.8	95.7	−198	−54.0
Free cash flow	707	854	668	138	446	790

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.