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Swedish inventor and maker of tiltrotators, attachments that let excavators tilt and rotate their buckets for precision digging.
Swedish inventor and maker of tiltrotators, attachments that let excavators tilt and rotate their buckets for precision digging.
Sells tiltrotors through excavator dealers and machine makers, so each new market depends on dealer coverage and on convincing contractors to pay extra for the tool. The Nordic home region is its most established base, with other markets still being built.
In one line: A niche construction-attachment maker with no direct large US peer.
Moat: narrow (IP / patents, brand, installed base). Pioneered and patented the tiltrotator category, holding a leading brand position in its niche.
Headquarters: Stromsund, Sweden · Founded: 1990
Size engcon (ENGCON-B.ST) is a Sweden Industrials company (Trucks/Construction/Farm Machinery) with a market value of $876M, the 139th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 56.30 on 6 Nov 2026.
Performance Over six months the shares fell 13.2%, against -19.5% for the median peer and +8.2% for the Sweden market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 15.8% over the last twelve months (peer median +12.0%); the operating margin is 15.6% (peer median 6.8%).
Valuation It trades at 29.7× forward earnings against a peer median of 11.9× (3rd most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 24.5 points above its cost of capital (6.1% WACC).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 2.07B | SEK 1.89B | SEK 1.65B | SEK 1.90B | SEK 1.94B |
| Revenue growth | — | +15% | -13% | -2% | — |
| Gross profit | SEK 809M | SEK 801M | SEK 726M | SEK 802M | SEK 833M |
| EBITDA | SEK 384M | SEK 391M | SEK 344M | SEK 412M | SEK 459M |
| Net income | SEK 267M | SEK 218M | SEK 216M | SEK 275M | SEK 305M |
| Free cash flow | SEK 252M | SEK 74.0M | SEK 220M | SEK 459M | SEK 204M |
| Capital expenditure | SEK 95.0M | SEK 37.0M | SEK 44.0M | SEK 58.0M | SEK 47.0M |
| Total debt | SEK 166M | SEK 260M | SEK 121M | SEK 137M | SEK 264M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| engcon ENGCON-B.ST | $876M | -13% | +16% | 16% | 29.7× | 7.0% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENGCON-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.6% | -8.1% | 5th lowest of 21 |
| 6-month return | -13.2% | -19.5% | 8th highest of 21 |
| Distance from 52-week high | -37.9% | -31.2% | 9th lowest of 21 |
| Revenue growth (TTM) | +15.8% | +12.0% | 10th highest of 21 |
| Operating margin | 15.6% | 6.8% | 6th highest of 21 |
| Forward P/E | 29.7× | 11.9× | 3rd most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 7.0% | 8.1% | 5th least demanding of 10 |
| Growth delivered (Del g) | +11.9% | +6.6% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | -4.9 pp | +2.0 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +24.5 pp | -2.8 pp | 3rd highest of 21 |
| EV / EBITDA | 22.6× | 9.6× | 5th most expensive of 11 |
| Net debt / EBITDA | 0.2× | 1.2× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| engcon ENGCON-B.ST | Sweden | $876M | -13% | +16% | 16% | 29.7× | 7.0% | +11.9% |
| Knowledge Marine & Engineering Works KMEW.NS | India | $876M | +44% | +57% | 40% | n/a | n/a | n/a |
| HD-Hyundai Marine Engine 071970.KS | South Korea | $887M | -66% | +54% | 26% | 8.7× | -9.8% | +10.2% |
| Jupiter Wagons JWL.NS | India | $896M | -35% | -12% | 10% | 32.8× | n/a | n/a |
| Douglas Dynamics PLOW | United States | $839M | -20% | +23% | 13% | 11.0× | 5.6% | +6.4% |
| Chengdu Xiling Power Science & Technology 300733.SZ | China | $831M | -9% | +4% | 3% | 29.3× | n/a | n/a |
| Astec Industries ASTE | United States | $822M | -33% | +19% | 5% | 9.8× | 9.5% | +6.6% |
| Power HF 605100.SS | China | $816M | -35% | +17% | 2% | n/a | n/a | n/a |
| Manitowoc MTW | United States | $808M | -3% | +9% | 3% | 16.2× | 11.2% | +9.2% |
| Greenworks (Jiangsu) 301260.SZ | China | $804M | -35% | -1% | -8% | 19.1× | n/a | n/a |
| DAEHAN SHIPBUILDING 439260.KS | South Korea | $955M | -62% | +14% | 26% | 4.4× | n/a | n/a |
| Gemac Engineering Machinery 301048.SZ | China | $801M | -8% | +7% | 8% | n/a | 4.1% | +4.0% |
| Titagarh Rail Systems TITAGARH.NS | India | $967M | -20% | -10% | 10% | 34.8× | 45.4% | +15.9% |
| Hangzhou Advance Gearbox 601177.SS | China | $786M | -19% | +1% | 4% | n/a | 14.5% | +4.6% |
| Sunward Intelligent Equipment 002097.SZ | China | $985M | -38% | +10% | 1% | n/a | n/a | n/a |
| Xiamen XGMA Machinery 600815.SS | China | $756M | -36% | +21% | -21% | n/a | n/a | n/a |
| Shandong Mining Machinery 002526.SZ | China | $754M | -15% | -6% | 1% | n/a | n/a | n/a |
| TADANO 6395.T | Japan | $1.02B | -8% | +21% | 9% | 10.8× | n/a | n/a |
| Niutech Technology 688309.SS | China | $753M | -10% | +79% | 26% | n/a | n/a | n/a |
| Newag NWG.WA | Poland | $1.04B | -16% | +45% | 21% | 11.9× | -4.3% | +12.6% |
| Shanghai Chuangli 603012.SS | China | $738M | -12% | -17% | 5% | n/a | 8.1% | +2.8% |