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Swedish maker of engineered polymer compounds used in seals, gaskets and components across many industries.
Swedish maker of engineered polymer compounds used in seals, gaskets and components across many industries.
Mixes rubber and polymer compounds to each customer's recipe and passes on raw-material costs through its prices, so profit is a processing margin per kilo rather than a bet on raw-material prices. The engineered products arm makes finished components, and the group has grown largely by buying compounders.
In one line: A specialty rubber/polymer compounder like a smaller Trinseo.
Moat: narrow (process know-how, customer qualification). Custom formulation expertise and long qualification cycles with industrial customers create switching costs.
Headquarters: Malmo, Sweden · Founded: 1975 · Employees: 4,910
Size Hexpol (HPOL-B.ST) is a Sweden Materials company (Chemicals: Specialty) with a market value of $3.30B, the 57th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 93.95 on 6 Nov 2026.
Performance Over six months the shares gained 27.6%, against -21.6% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 0.8% over the last twelve months (peer median +12.2%); the operating margin is 13.8% (peer median 12.0%).
Valuation It trades at 15.6× forward earnings against a peer median of 21.8× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (7.9% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 19.6B | SEK 19.3B | SEK 20.4B | SEK 22.0B | SEK 22.2B |
| Revenue growth | — | -5% | -7% | -1% | — |
| Gross profit | SEK 4.11B | SEK 4.02B | SEK 4.33B | SEK 4.82B | SEK 4.30B |
| EBITDA | SEK 3.31B | SEK 3.32B | SEK 3.75B | SEK 4.11B | SEK 3.74B |
| Net income | SEK 1.81B | SEK 1.94B | SEK 2.22B | SEK 2.52B | SEK 2.48B |
| Free cash flow | SEK 2.04B | SEK 1.78B | SEK 2.21B | SEK 2.85B | SEK 1.94B |
| Capital expenditure | SEK 551M | SEK 554M | SEK 497M | SEK 684M | SEK 659M |
| Total debt | SEK 5.59B | SEK 4.33B | SEK 3.47B | SEK 2.68B | SEK 4.39B |
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 |
|---|---|---|---|---|---|---|
| Hexpol HPOL-B.ST | $3.30B | +28% | -1% | 14% | 15.6× | 3.1% |
| Lanxess LXS.DE | $1.27B | -30% | -10% | -1% | n/a | 17.9% |
| Avient AVNT | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% |
| Trelleborg TREL-B.ST | $10.1B | +19% | +2% | 19% | 22.9× | 9.6% |
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 | HPOL-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.5% | -6.6% | 6th highest of 21 |
| 6-month return | +27.6% | -21.6% | 2nd highest of 21 |
| Distance from 52-week high | -5.6% | -39.1% | highest of 21 |
| Revenue growth (TTM) | -0.8% | +12.2% | 4th lowest of 21 |
| Operating margin | 13.8% | 12.0% | 8th highest of 21 |
| Forward P/E | 15.6× | 21.8× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.1% | 15.2% | 5th least demanding of 14 |
| Growth delivered (Del g) | +7.6% | +10.6% | 3rd lowest of 14 |
| Hurdle (Req g minus delivered) | -4.4 pp | -3.9 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +3.6 pp | +1.1 pp | 9th highest of 21 |
| EV / EBITDA | 10.8× | 7.6× | 3rd most expensive of 6 |
| Net debt / EBITDA | 1.0× | 1.3× | 3rd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hexpol HPOL-B.ST | Sweden | $3.30B | +28% | -1% | 14% | 15.6× | 3.1% | +7.6% |
| Inner Mongolia Berun Chemical 000683.SZ | China | $3.36B | -32% | +11% | 13% | 13.8× | n/a | n/a |
| Guangzhou Guanggang Gases and Energy 688548.SS | China | $3.39B | -14% | +21% | 20% | 62.3× | n/a | n/a |
| Levima Advanced Materials 003022.SZ | China | $3.17B | -34% | +66% | 10% | 30.1× | n/a | n/a |
| Hawkins HWKN | United States | $3.14B | -10% | +9% | 11% | 33.9× | 15.2% | +12.7% |
| Luxi Chemical 000830.SZ | China | $3.13B | -36% | -1% | 4% | 12.1× | -1.4% | +10.6% |
| Shanghai Haoyuan Chemexpress 688131.SS | China | $3.11B | +30% | +28% | 13% | 59.6× | 32.0% | +35.2% |
| NOF 4403.T | Japan | $3.60B | -22% | +13% | 17% | 13.5× | -6.1% | +8.4% |
| XTC New Energy Materials (Xiamen) 688778.SS | China | $3.01B | -52% | +78% | 4% | 19.2× | 16.0% | +20.0% |
| Cabot CBT | United States | $3.67B | -17% | +1% | 14% | 10.9× | -3.2% | +1.9% |
| Ningbo Shanshan 600884.SS | China | $3.71B | -34% | +30% | 9% | 14.4× | 4.5% | +21.3% |
| Novoray 688300.SS | China | $3.76B | -9% | +23% | 26% | 52.7× | 47.6% | +22.6% |
| Mitsubishi Gas Chemical 4182.T | Japan | $3.78B | -31% | +3% | 8% | 10.6× | n/a | n/a |
| Qingdao Gon Technology 2768.HK | Hong Kong | $2.88B | +13% | +20% | 7% | 10.3× | n/a | n/a |
| Sichuan Qiaoyuan Gas 301286.SZ | China | $2.88B | -4% | +8% | 26% | 73.4× | 31.8% | +8.0% |
| Beijing Easpring Material Technology 300073.SZ | China | $2.86B | -45% | +116% | 5% | 18.8× | n/a | n/a |
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Shanghai Bairun Investment 002568.SZ | China | $2.82B | -8% | +8% | 28% | 24.2× | 14.5% | +8.8% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| PI Industries PIIND.NS | India | $2.79B | -44% | -15% | 13% | 22.7× | n/a | n/a |