Indutrade AB IDTRY

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsSweden

Last close 13.00 USD on Nov 1, 2026, +6.7% year to date

Quant rating

Quant rating B Rank 91 of 418 in Industrials

Growth B 67 of 418
Valuation D 316 of 418
Quality A 54 of 418
Revisions B 129 of 418
Momentum B 164 of 418

Wall Street consensus Buy (2.12)Average target 28.92 USD +122.5%

Historical valuation

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

Key data

Market cap: 9.9B
Enterprise value: 10.8B
52-week range: 9.19 – 13.55
3-year range: 9.19 – 13.87
Dividend yield: 1.29%
Beta (5 years): –
Shares outstanding: 364M
Next earnings: Jan 29, 2027

About the company

Indutrade AB is a Sweden-based company specialized in high-tech products and solutions that streamline customers’ systems and processes. It operates through eight segments: Benelux, DACH and UK offer custom-manufactured niche products, design solutions, aftermarket services, assembly and customization. Finland provides components, customization, combinations and product installations. Flow Technology supplies components and systems for controlling, measuring, monitoring and regulating flows. Fluids & Mechanical Solutions offers hydraulic and mechanical components to industries in the Nordic countries, but also in Europe and North America. Industrial Components includes technical components and systems for industrial production, maintenance and medical technology equipment. Measurement & Sensor Technology sells measurement instruments and systems, sensors, control and regulating technology, and monitoring equipment. Through its subsidiaries the Company operates globally.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,504	2,944	3,162	2,596	2,402	–
Revenue growth	19.0%	−6.9%	21.8%	8.1%	2.7%	8.4%
EPS (basic, normalized)	0.80	0.68	0.76	0.71	0.63	–
EPS growth	17.0%	−9.8%	6.6%	13.6%	–	–
Gross margin	35.4%	35.0%	34.7%	34.7%	35.0%	35.0%
Net margin	7.9%	8.4%	9.0%	9.9%	9.6%	9.0%
ROE	15.2%	17.7%	21.0%	23.3%	22.2%	19.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	125
Current ratio	1.69x
Long-term debt (mil)	803
Net debt (mil)	958
Total equity (mil)	1,912
Net debt / equity	0.50x
Net debt / EBITDA	1.53x

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	3,504	+19.0%	3.1x	624	+20.6%	17.3x	0.80	+17.0%	16.3x
2026	3,581	+2.2%	3.0x	631	+1.0%	17.2x	0.87	+8.8%	15.0x
2027	3,897	+8.8%	2.8x	703	+11.4%	15.4x	1.02	+17.1%	12.8x
2028	4,126	+5.9%	2.6x	755	+7.5%	14.3x	1.14	+11.7%	11.4x

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	3,581	0.0%	+0.1%	+3.9%	0.87	−0.4%	−0.3%	+4.8%
2027	3,897	+1.4%	+1.6%	+6.9%	1.02	+0.4%	+0.6%	+8.2%
2028	4,126	+1.4%	+1.6%	+9.5%	1.14	+0.4%	+0.7%	+10.8%

Earnings surprises EPS beat in 2 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)	7,744	8,491	7,973	8,336	8,036	8,121	7,846	8,226	8,063	8,988
Sales mean (mil)	8,235	8,166	8,117	8,238	8,194	8,418	7,832	8,306	8,193	8,624
Surprise	−6.0%	+4.0%	−1.8%	+1.2%	−1.9%	−3.5%	+0.2%	−1.0%	−1.6%	+4.2%
EPS reported	1.61	2.00	1.92	2.01	1.71	1.75	1.85	1.72	1.64	2.15
EPS mean	2.03	1.90	2.14	2.09	2.05	1.98	1.78	1.99	1.83	2.06
Surprise	−20.8%	+5.4%	−10.1%	−3.7%	−16.6%	−11.6%	+4.1%	−13.5%	−10.2%	+4.3%

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
IDTRY Indutrade AB	9.9B	1.53x	7.9%	5.06x	15.0x	12.8x	17.2x	15.4x
TTC The Toro Company	10.2B	1.15x	7.0%	7.65x	23.3x	21.2x	15.2x	14.0x
FLS Flowserve Corporation	10.0B	1.74x	7.3%	4.33x	19.1x	17.0x	12.7x	11.5x
NRXXY Nordex SE	10.0B	−2.26x	3.6%	6.15x	9.0x	7.6x	7.9x	6.8x
CGNX Cognex Corporation	9.4B	−1.89x	11.5%	5.80x	33.1x	28.0x	25.5x	22.0x
ADRZY Andritz AG	9.4B	−0.84x	5.8%	3.05x	3.3x	2.9x	8.4x	7.6x
Mean		−0.09x	7.2%	5.34x	17.1x	14.9x	14.5x	12.9x
Median		0.16x	7.2%	5.43x	17.0x	14.9x	14.0x	12.8x

Technical analysis

1M−1.5%
3M−1.6%
1Y+6.7%
3Y−5.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Indutrade AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,504	2,944	3,162	2,596	2,402	2,339
Cost of revenue	2,264	1,912	2,065	1,696	1,561	1,544
Gross profit	1,240	1,032	1,097	900	842	796
Selling, general & administrative expenses	720	590	600	490	456	458
Research & development	39.0	34.3	36.5	29.7	25.8	24.7
Depreciation/amortization	69.1	55.9	56.1	44.6	46.0	47.8
Interest expense (income), operating	3.5	0.1	−0.4	−4.5	0.6	1.3
Unusual expense (income)	22.2	4.5	43.3	7.4	9.2	14.9
Other operating expenses	−23.8	−17.9	−51.3	−15.1	−8.0	−27.0
Operating income	410	365	413	348	313	276
Net interest income (expense)	−41.5	−41.2	−41.7	−13.5	−7.0	−11.7
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−6.0	−4.5	−4.7	−3.8	−4.1	−3.7
Net income before taxes	362	319	367	331	301	261
Provision for taxes	83.7	70.3	82.0	72.9	69.5	57.3
Minority interest	−0.2	−0.1	−0.1	0.1	−0.2	0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	278	249	285	258	232	203
Extraordinary items	–	–	–	–	–	–
Net income	278	249	285	258	232	203
EBIT, normalized	436	369	458	351	322	292
EBITDA, normalized	623	522	613	472	439	413
Basic EPS, normalized	0.80	0.68	0.76	0.71	0.63	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Indutrade AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	260	276	299	153	162	92.3
Receivables	640	540	535	493	438	413
Total inventory	547	489	533	539	444	403
Prepaid expenses	35.2	30.8	28.5	26.3	23.6	21.3
Other current assets	0	0	0	0	0	0
Total current assets	1,482	1,337	1,395	1,211	1,067	929
Property, plant & equipment	488	425	437	389	374	378
Goodwill	1,079	879	822	735	602	524
Intangibles	534	451	433	424	369	328
Long-term investments	1.6	1.3	1.2	1.2	1.4	1.5
Note receivable	7.3	6.4	6.6	4.2	5.1	7.8
Other long-term assets	19.8	14.3	12.9	9.9	16.0	18.5
Total assets	3,612	3,114	3,107	2,773	2,434	2,187
Liabilities
Accounts payable	198	181	175	180	177	138
Payable/accrued	–	–	49.4	48.6	47.6	47.1
Accrued expenses	131	109	78.6	72.0	70.2	69.6
Short-term debt	0.8	2.4	4.8	32.3	16.7	5.8
Current portion of long-term debt	238	219	231	185	140	139
Other current liabilities	181	167	163	144	123	101
Total current liabilities	749	677	702	662	574	500
Long-term debt	809	769	803	736	574	493
Minority interest	0.5	1.0	1.4	1.3	1.2	1.2
Other liabilities	193	161	162	148	147	142
Total liabilities	1,752	1,608	1,669	1,547	1,295	1,137
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	79.2	65.9	72.4	70.0	80.5	88.5
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	1,781	1,439	1,365	1,156	1,058	961
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	1,860	1,505	1,438	1,226	1,139	1,050
Total liabilities & shareholders' equity	3,612	3,114	3,107	2,773	2,434	2,187

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Indutrade AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	410	365	413	348	313	276
Depreciation, depletion & amortization	188	153	155	121	117	121
Deferred taxes	–	–	–	–	–	–
Non-cash items	−9.9	−12.8	−1.5	−5.8	2.1	−11.9
Changes in working capital	−154	−131	−121	−235	−116	−46.7
Cash from operations	434	374	446	228	316	338
Investing activities
Capital expenditures	−59.1	−47.1	−55.6	−52.6	−41.4	−52.0
Other investing cash flows	−184	−179	−156	−266	−180	−114
Cash from investing	−243	−226	−211	−319	−221	−166
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−119	−94.3	−94.0	−80.4	−72.5	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−135	−53.4	1.4	176	50.3	−161
Cash from financing	−254	−148	−92.6	95.2	−22.1	−161
Foreign exchange effects	−8.8	3.8	−0.8	8.0	5.4	−6.7
Net change in cash	−71.9	3.8	141	12.4	77.7	4.7
Free cash flow	375	327	390	175	274	286

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 1, 2026 after market close.