Hexagon
119.65 SEK +1.57%Hexagon is a global provider of technology solutions. The company specializes in the development of information technology that is further used in geospatial and industrial applications. The company's solutions mainly integrate sensors, software, industrial knowledge, and customers' workflows into information ecosystems. Customers are found on a global level in various industries. Hexagon was founded in 1975 and is headquartered in Stockholm, Sweden.
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Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Melker Schörling AB | 21.5 % | 42.6 % |
State Street Bank and Trust Co, W9 | 8.5 % | 6.2 % |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 3,764.4 | 4,341.1 | 5,160.5 | 5,435.2 | 5,594.9 | 5,927.6 | 6,270.2 | 6,583.2 |
growth-% | -3.7 % | 15.3 % | 18.9 % | 5.3 % | 2.9 % | 5.9 % | 5.8 % | 5.0 % |
EBITDA | 1,321.2 | 1,588.7 | 1,753.7 | 1,779.0 | 2,045.7 | 2,221.2 | 2,396.5 | 2,509.5 |
EBIT (adj.) | 1,009.5 | 1,269.6 | 1,517.8 | 1,596.7 | 1,662.7 | 1,789.1 | 1,909.7 | 2,006.2 |
EBIT | 787.0 | 1,009.8 | 1,286.7 | 1,216.0 | 1,497.7 | 1,635.6 | 1,776.9 | 1,890.0 |
Profit before taxes | 759.6 | 983.6 | 1,248.0 | 1,060.7 | 1,334.7 | 1,495.6 | 1,661.9 | 1,790.0 |
Net income | 618.1 | 801.6 | 1,007.6 | 858.9 | 1,067.0 | 1,195.8 | 1,312.3 | 1,413.1 |
EPS (adj.) | 0.31 | 0.39 | 0.44 | 0.43 | 0.45 | 0.49 | 0.53 | 0.56 |
growth-% | -1.2 % | 25.3 % | 14.2 % | -2.2 % | 3.1 % | 10.0 % | 7.6 % | 6.2 % |
Dividend | 0.09 | 0.11 | 0.12 | 0.13 | 0.14 | 0.15 | 0.16 | 0.17 |
Dividend ratio | 38.6 % | 37.1 % | 32.0 % | 40.6 % | 35.2 % | 33.7 % | 32.7 % | 32.3 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 35.1 % | 36.6 % | 34.0 % | 32.7 % | 36.6 % | 37.5 % | 38.2 % | 38.1 % |
EBIT-% (adj.) | 26.8 % | 29.2 % | 29.4 % | 29.4 % | 29.7 % | 30.2 % | 30.5 % | 30.5 % |
EBIT-% | 20.9 % | 23.3 % | 24.9 % | 22.4 % | 26.8 % | 27.6 % | 28.3 % | 28.7 % |
ROE | 10.3 % | 10.9 % | 10.9 % | 8.7 % | 10.3 % | 10.7 % | 10.9 % | 10.9 % |
ROI | 9.2 % | 9.9 % | 10.1 % | 8.7 % | 10.6 % | 11.5 % | 12.4 % | 13.1 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 10.60 | 13.93 | 9.81 | 10.89 | 10.54 | 10.54 | 10.54 | 10.54 |
Shares | 366.9 | 2,705.5 | 2,689.7 | 2,684.3 | 2,684.3 | 2,684.3 | 2,684.3 | 2,684.3 |
Market cap | 3,889.2 | 37,687.3 | 26,385.8 | 29,231.5 | 28,282.3 | 28,282.3 | 28,282.3 | 28,282.3 |
Enterprise value | 6,139.7 | 40,153.1 | 29,695.5 | 32,638.8 | 31,015.6 | 30,240.2 | 29,377.9 | 28,458.9 |
EV/S | 1.6 | 9.2 | 5.8 | 6.0 | 5.5 | 5.1 | 4.7 | 4.3 |
EV/EBITDA | 4.6 | 25.3 | 16.9 | 18.3 | 15.2 | 13.6 | 12.3 | 11.3 |
EV/EBIT (adj.) | 6.1 | 31.6 | 19.6 | 20.4 | 18.7 | 16.9 | 15.4 | 14.2 |
EV/EBIT | 7.8 | 39.8 | 23.1 | 26.8 | 20.7 | 18.5 | 16.5 | 15.1 |
P/E (adj.) | 34.2 | 35.9 | 22.1 | 25.1 | 23.6 | 21.4 | 19.9 | 18.8 |
P/E | 44.0 | 45.2 | 26.2 | 34.0 | 26.5 | 23.7 | 21.6 | 20.0 |
P/B | 0.7 | 4.3 | 2.7 | 2.9 | 2.6 | 2.4 | 2.3 | 2.1 |
P/S | 1.0 | 8.7 | 5.1 | 5.4 | 5.1 | 4.8 | 4.5 | 4.3 |
Dividend yield | 0.9 % | 0.8 % | 1.2 % | 1.2 % | 1.3 % | 1.4 % | 1.5 % | 1.6 % |
Equity ratio | 55.6 % | 62.2 % | 59.9 % | 59.5 % | 63.5 % | 67.7 % | 72.3 % | 77.2 % |
Gearing ratio | 37.8 % | 28.1 % | 34.3 % | 35.2 % | 25.4 % | 16.9 % | 8.8 % | 1.3 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 1,365.0 | 1,349.8 | 1,435.3 | 5,435.2 | 1,299.9 | 1,402.1 | 1,396.9 | 1,496.1 | 5,594.9 |
EBITDA | 474.8 | 291.5 | 565.3 | 1,779.0 | 470.7 | 506.4 | 508.2 | 560.4 | 2,045.7 |
EBIT | 350.2 | 146.8 | 390.6 | 1,216.0 | 335.9 | 368.4 | 370.2 | 423.2 | 1,497.7 |
Profit before taxes | 314.0 | 103.8 | 341.3 | 1,060.7 | 293.2 | 328.4 | 328.2 | 384.9 | 1,334.7 |
Net income | 253.7 | 83.6 | 277.2 | 858.9 | 237.8 | 262.1 | 262.1 | 304.9 | 1,067.0 |
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![Hexagon Q1’24: Growth below estimates](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/2b2e6961-32d4-4736-a6f9-86031eaee7d5.png)
Hexagon Q1’24: Growth below estimates
Annual General Meeting in Hexagon AB
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![Lower market activity weighs on growth](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/aeb660a6-3b03-44aa-8886-7fb14553c3a4.png)
Lower market activity weighs on growth
Hexagon Interim Report 1 January - 31 March 2024
![Hexagon Q1 report on Monday: We expect moderate growth and improving gross margins](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/18f61cfb-7499-49d1-ab61-8d2d3e13ba00.png)
Hexagon Q1 report on Monday: We expect moderate growth and improving gross margins
Hexagon acquires Xwatch to strengthen its construction safety portfolio
Hexagon: Bolt-on acquisition of small SaaS-business
Hexagon acquires Itus Digital to expand Asset Performance Management capabilities
Hexagon publishes the Annual Report and Sustainability Report 2023
Hexagon: NOTICE TO THE ANNUAL GENERAL MEETING IN HEXAGON AB (publ)
![Low risk, low reward](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/aeb660a6-3b03-44aa-8886-7fb14553c3a4.png)
Low risk, low reward
![Hexagon Q4: Growth missed slightly, EBIT exceeded expectations](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/2ec712c6-2d53-4fa0-9ba2-118f0dcbcb0e.png)
Hexagon Q4: Growth missed slightly, EBIT exceeded expectations
Hexagon Year-End Report 1 January - 31 December 2023
![Hexagon Q4 on Thursday: Earnings growth supported by organic development, burdened by FX and cyclicality](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/13195655-1b85-4022-873c-3af05c2a4fb4.png)