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Makes truck-mounted cranes, demountable systems and tail lifts for load-handling on commercial vehicles.
Makes truck-mounted cranes, demountable systems and tail lifts for load-handling on commercial vehicles.
Sells new cranes and load-handling equipment mostly to truck builders and dealers, then earns repeat income from spare parts, repairs and service on the large number of units already working. The 2024 split-off of the port-equipment business Kalmar left a company built around load handling on trucks.
Moat: narrow (brand, installed base, distribution). Market-leading truck crane brand with a global dealer/service network and large installed base.
Headquarters: Helsinki, Finland · Founded: 2024 · Employees: 4,053
Size Hiab (HIAB.HE) is a Finland Industrials company (Trucks/Construction/Farm Machinery) with a market value of $3.52B, the 16th largest of 65 Finland companies the cockpit tracks. Shares closed at €48.66 on 6 Nov 2026.
Performance Over six months the shares fell 5.2%, against -13.5% for the median peer and -2.9% for the Finland market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +11.1%); the operating margin is 11.8% (peer median 6.9%).
Valuation It trades at 16.9× forward earnings against a peer median of 13.0× (8th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is -14%, so the hurdle is +29 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.5 points below its cost of capital (10.4% WACC).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.66B | €1.55B | €1.65B | €1.78B | €4.17B |
| Revenue growth | — | -6% | -7% | -57% | — |
| Gross profit | €483M | €451M | €462M | €460M | €834M |
| EBITDA | €259M | €266M | €480M | €325M | €545M |
| Net income | €123M | €164M | €1.07B | €347M | €23.9M |
| Free cash flow | €157M | €172M | €432M | €355M | €94.2M |
| Capital expenditure | €17.3M | €17.3M | €44.2M | €81.1M | €66.2M |
| Total debt | €1.03B | €251M | €369M | €867M | €838M |
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 |
|---|---|---|---|---|---|---|
| Hiab HIAB.HE | $3.52B | -5% | +6% | 12% | 16.9× | 15.5% |
| TADANO 6395.T | $1.02B | -8% | +21% | 9% | 10.8× | n/a |
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 | HIAB.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.8% | +1.2% | 5th lowest of 21 |
| 6-month return | -5.2% | -13.5% | 7th highest of 21 |
| Distance from 52-week high | -26.3% | -29.9% | 9th highest of 21 |
| Revenue growth (TTM) | +5.8% | +11.1% | 8th lowest of 21 |
| Operating margin | 11.8% | 6.9% | 5th highest of 21 |
| Forward P/E | 16.9× | 13.0× | 8th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 15.5% | 1.0% | most demanding of 16 |
| Growth delivered (Del g) | -13.7% | +9.6% | lowest of 16 |
| Hurdle (Req g minus delivered) | +29.2 pp | -9.1 pp | most demanding of 16 |
| ROIC minus cost of capital | -1.5 pp | +0.9 pp | 8th lowest of 20 |
| EV / EBITDA | 14.8× | 8.9× | 4th most expensive of 11 |
| Net debt / EBITDA | 2.7× | 0.7× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hiab HIAB.HE | Finland | $3.52B | -5% | +6% | 12% | 16.9× | 15.5% | -13.7% |
| Doosan Bobcat 241560.KS | South Korea | $3.64B | -28% | +11% | 9% | 9.0× | -13.3% | +15.5% |
| Cochin Shipyard COCHINSHIP.NS | India | $3.40B | -33% | -1% | 13% | 34.3× | n/a | n/a |
| Tiandi Science & Technology 600582.SS | China | $3.30B | -6% | -6% | 4% | 10.4× | n/a | n/a |
| China Railway Construction Heavy Industry 688425.SS | China | $3.29B | -13% | -1% | 12% | 12.4× | 1.9% | +5.7% |
| Stadler Rail SRAIL.SW | Switzerland | $3.84B | +38% | +26% | 5% | 19.8× | 0.2% | +3.6% |
| CITIC Heavy Industries 601608.SS | China | $3.15B | -24% | +5% | 4% | 45.9× | 14.5% | +5.1% |
| Bucher Industries BUCN.SW | Switzerland | $3.93B | +4% | -4% | 7% | 19.1× | -2.9% | +1.2% |
| CSSC Offshore & Marine Engineering (Group) 0317.HK | Hong Kong | $4.04B | -22% | +10% | 1% | 9.6× | 1.5% | +11.3% |
| Modec 6269.T | Japan | $3.03B | -46% | +17% | 9% | 7.7× | -21.3% | +18.6% |
| Construcciones y Auxiliar de Ferrocarriles CAF.MC | Spain | $2.92B | +21% | +12% | 6% | 13.5× | 1.0% | +10.2% |
| Craftsman Automation CRAFTSMAN.NS | India | $2.90B | +21% | +36% | 10% | 44.5× | n/a | n/a |
| Sany Heavy Equipment International 0631.HK | Hong Kong | $2.82B | -46% | +19% | 6% | 8.9× | 1.4% | +26.1% |
| Hd Ce 267270.KS | South Korea | $2.80B | -56% | +115% | 8% | 8.6× | -9.6% | +9.6% |
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |
| Garden Reach Shipbuilders & Engineers GRSE.NS | India | $2.60B | -31% | +40% | 10% | 26.5× | n/a | n/a |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% | +5.0% |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 9.4× | n/a | n/a |
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | n/a | -4.0% | +2.6% |