Securitas AB SCTBY

IndustrialsProfessional & Commercial ServicesSweden

Last close 15.95 USD on Nov 2, 2026, +1.8% year to date

Quant rating

Quant rating B Rank 124 of 418 in Industrials

Growth B 120 of 418
Valuation B 163 of 418
Quality B 144 of 418
Revisions C 187 of 418
Momentum C 176 of 418

Wall Street consensus Hold (2.75)Average target 17.03 USD +6.8%

Historical valuation

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

Key data

Market cap: 8.6B
Enterprise value: 11.9B
52-week range: 14.04 – 20.14
3-year range: 8.87 – 20.14
Dividend yield: 3.28%
Beta (5 years): 0.99
Shares outstanding: 546M
Next earnings: Feb 2, 2027

About the company

Securitas AB is a Sweden-based provider of security solutions, including specialized guarding, aviation security services and international security solutions, among others. It operates through five business segments. Security Services North America business segment offers security services in the United States, Canada and Mexico. Security Services Europe offers security services in 27 countries in Europe. Mobile and Monitoring provides mobile services, such as beat patrol and call-out services, and monitoring services, such as alarm surveillance for homes, and small and medium-sized businesses. Security Services Ibero-America provides security services in Latin America, Portugal and Spain. New Markets provides security services in the Middle East, Asia and Africa. The Company's subsidiaries include Selectron, Rentsec, Vamsa, Tehnomobil, Central de Alarmas Adler, Automatic Alarm, Suddeutsche Bewachung and Johnson & Thompson.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	16,862	14,647	15,620	12,802	11,915	–
Revenue growth	15.1%	−6.2%	22.0%	7.4%	−9.3%	5.1%
EPS (basic, normalized)	1.29	0.99	0.92	0.99	0.95	–
EPS growth	29.7%	8.3%	−7.3%	4.3%	–	–
Gross margin	21.4%	21.0%	20.4%	19.6%	18.4%	20.2%
Net margin	3.3%	3.2%	0.8%	3.2%	2.9%	2.7%
ROE	12.5%	13.0%	3.5%	15.1%	16.3%	12.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	832
Current ratio	1.15x
Long-term debt (mil)	3,073
Net debt (mil)	3,214
Total equity (mil)	4,427
Net debt / equity	0.73x
Net debt / EBITDA	1.92x

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	16,862	+15.1%	0.7x	1,676	+29.1%	7.1x	1.29	+29.7%	12.4x
2026	15,408	−8.6%	0.8x	1,523	−9.1%	7.8x	1.31	+1.5%	12.2x
2027	16,080	+4.4%	0.7x	1,625	+6.7%	7.3x	1.42	+8.9%	11.2x
2028	16,713	+3.9%	0.7x	1,703	+4.8%	7.0x	1.53	+7.3%	10.5x

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	15,408	0.0%	−0.1%	+0.5%	1.31	−0.3%	+0.2%	+0.1%
2027	16,080	+0.1%	+0.3%	+2.0%	1.42	−0.5%	−0.1%	+0.6%
2028	16,713	+0.5%	+0.7%	+2.3%	1.53	+0.2%	+0.6%	+0.8%

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)	39,260	40,638	40,229	41,794	39,606	38,564	38,521	38,422	36,211	37,843
Sales mean (mil)	38,789	41,472	40,894	41,122	40,882	39,239	39,127	38,998	36,435	37,685
Surprise	+1.2%	−2.0%	−1.6%	+1.6%	−3.1%	−1.7%	−1.5%	−1.5%	−0.6%	+0.4%
EPS reported	2.12	2.60	3.05	3.05	2.36	2.79	3.34	3.06	2.75	2.94
EPS mean	2.27	2.67	3.05	2.97	2.67	2.78	3.18	3.16	2.81	3.12
Surprise	−6.7%	−2.5%	0.0%	+2.8%	−11.7%	+0.3%	+5.1%	−3.1%	−2.0%	−5.8%

Peer comparison Professional & Commercial Services

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
SCTBY Securitas AB	8.6B	1.92x	3.3%	2.00x	12.2x	11.2x	7.8x	7.3x
MORN Morningstar, Inc.	8.9B	1.62x	15.3%	8.64x	19.1x	16.8x	11.8x	10.7x
RANJY Randstad N.V.	8.3B	1.45x	1.3%	1.83x	7.7x	7.2x	9.3x	8.9x
BZ KANZHUN LIMITED	8.0B	−5.24x	33.1%	2.49x	12.6x	11.5x	7.8x	6.5x
TOPPY TOPPAN Holdings Inc.	7.9B	–	3.6%	0.87x	–	–	–	–
DNPLY Dai Nippon Printing Co., Ltd.	7.9B	–	6.9%	0.99x	–	–	–	–
Mean		−0.06x	10.6%	2.80x	12.9x	11.7x	9.2x	8.4x
Median		1.54x	5.2%	1.92x	12.4x	11.4x	8.6x	8.1x

Technical analysis

1M−2.8%
3M+0.1%
1Y+9.6%
3Y+104.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Securitas AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	16,862	14,647	15,620	12,802	11,915	13,141
Cost of revenue	13,259	11,572	12,429	10,293	9,719	10,840
Gross profit	3,603	3,074	3,191	2,509	2,195	2,302
Selling, general & administrative expenses	2,151	1,880	1,990	1,587	1,385	1,585
Research & development	–	–	–	–	–	–
Depreciation/amortization	278	252	257	200	191	166
Interest expense (income), operating	−7.4	−6.0	−6.1	−4.8	−4.8	−5.5
Unusual expense (income)	194	103	465	109	110	94.6
Other operating expenses	−7.7	−6.4	−6.4	−5.0	−4.8	−4.7
Operating income	995	853	492	623	519	466
Net interest income (expense)	0	7.1	−117	−36.6	−40.2	−59.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−202	−225	−93.0	−36.2	−0.1	−1.5
Net income before taxes	793	635	281	550	479	405
Provision for taxes	234	167	153	135	132	111
Minority interest	−3.2	−1.1	−1.2	−0.6	−0.1	0.4
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	556	467	128	414	347	294
Extraordinary items	–	–	–	–	–	–
Net income	556	467	128	414	347	294
EBIT, normalized	1,237	949	949	721	564	555
EBITDA, normalized	1,685	1,344	1,364	1,061	895	883
Basic EPS, normalized	1.29	0.99	0.92	0.99	0.95	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Securitas AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	796	689	811	622	554	591
Receivables	3,172	2,949	2,914	2,769	2,209	2,272
Total inventory	147	158	147	160	58.0	48.1
Prepaid expenses	246	230	260	277	151	140
Other current assets	0	0.1	9.3	2.1	0.1	1.2
Total current assets	4,360	4,026	4,141	3,831	2,972	3,052
Property, plant & equipment	873	799	859	871	756	803
Goodwill	5,215	4,966	5,058	4,902	2,586	2,607
Intangibles	848	815	892	935	395	391
Long-term investments	35.2	34.4	35.2	37.9	37.4	37.9
Note receivable	270	276	296	326	113	106
Other long-term assets	295	264	281	195	151	200
Total assets	11,897	11,179	11,562	11,098	7,010	7,198
Liabilities
Accounts payable	490	453	509	463	224	222
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,696	1,630	1,707	1,544	1,419	1,504
Short-term debt	0	0	188	0	77.4	0
Current portion of long-term debt	311	578	1,017	279	504	676
Other current liabilities	723	640	616	570	567	573
Total current liabilities	3,219	3,301	4,036	2,857	2,792	2,974
Long-term debt	3,959	3,589	3,419	4,258	1,607	1,724
Minority interest	1.1	0.4	0.3	1.3	0.9	1.2
Other liabilities	475	429	461	483	310	344
Total liabilities	7,654	7,319	7,917	7,598	4,710	5,043
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	62.3	51.8	56.9	55.1	40.4	44.4
Additional paid-in capital	1,812	1,508	1,656	1,601	815	896
Retained earnings (accumulated deficit)	2,614	1,930	1,803	1,762	1,641	1,553
Treasury stock	–	–	–	–	–	–
Other equity	−244	370	130	81.1	−195	−340
Total equity	4,243	3,860	3,645	3,500	2,300	2,154
Total liabilities & shareholders' equity	11,897	11,179	11,562	11,098	7,010	7,198

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Securitas AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	986	841	492	623	519	466
Depreciation, depletion & amortization	447	395	415	340	331	362
Deferred taxes	–	–	–	–	–	–
Non-cash items	74.2	32.5	325	−9.5	29.8	30.8
Changes in working capital	−479	−547	−490	−414	−219	123
Cash from operations	1,029	721	741	539	662	983
Investing activities
Capital expenditures	−248	−209	−255	−219	−197	−214
Other investing cash flows	−33.7	−15.6	−16.0	−3,095	−138	−205
Cash from investing	−282	−224	−271	−3,314	−335	−419
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−280	−197	−196	−154	−162	−213
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−473	−356	−98.1	3,060	−154	−232
Cash from financing	−753	−553	−295	2,906	−316	−445
Foreign exchange effects	−34.8	9.6	−15.3	13.8	−0.8	−24.8
Net change in cash	−40.9	−46.6	161	145	9.8	94.0
Free cash flow	781	512	487	321	464	769

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 2, 2026 after market close.