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Swedish maker of ball and roller bearings, seals, and lubrication systems used in industrial machinery, vehicles, and wind turbines.
Swedish maker of ball and roller bearings, seals, and lubrication systems used in industrial machinery, vehicles, and wind turbines.
Sells bearings both as original equipment to machine and vehicle makers and as replacement parts through distributors, with the replacement side steadier because worn bearings must be swapped over a machine's life. Service and monitoring contracts add recurring income. Investor AB, the Wallenberg-family-linked holding company, is a major shareholder.
In one line: A Swedish Timken.
Moat: narrow (process know-how, brand, installed base). Century of precision-bearing engineering and a large installed base drive aftermarket/service revenue.
Headquarters: Gothenburg, Sweden · Founded: 1907 · Employees: 37,271
Size SKF (SKF-A.ST) is a Sweden Industrials company (Metal Fabrication) with a market value of $12.7B, the 25th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 273.00 on 6 Nov 2026.
Performance Over six months the shares gained 18.2%, against -14.7% for the median peer and +8.2% for the Sweden market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 10.4% over the last twelve months (peer median +20.8%); the operating margin is 12.1% (peer median 11.1%).
Valuation It trades at 16.4× forward earnings against a peer median of 19.8× (7th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +2 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 2.6 points above its cost of capital (8.3% WACC).
Credit SKF has 3 bonds outstanding ($1.11B), rated Baa1 by the agencies and trading like BBB+ at a weighted spread of 72 bp.
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 84.5B | SEK 91.6B | SEK 98.7B | SEK 104B | SEK 96.9B |
| Revenue growth | — | -7% | -5% | +7% | — |
| Gross profit | SEK 25.1B | SEK 24.1B | SEK 26.6B | SEK 25.5B | SEK 23.6B |
| EBITDA | SEK 14.3B | SEK 15.1B | SEK 16.6B | SEK 16.7B | SEK 13.9B |
| Net income | SEK 4.78B | SEK 3.93B | SEK 6.47B | SEK 6.39B | SEK 4.47B |
| Free cash flow | SEK 3.43B | SEK 4.36B | SEK 5.71B | SEK 8.03B | SEK 611M |
| Capital expenditure | SEK 2.79B | SEK 3.83B | SEK 5.09B | SEK 5.76B | SEK 5.21B |
| Total debt | SEK 20.5B | SEK 15.2B | SEK 20.1B | SEK 21.7B | SEK 22.0B |
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 |
|---|---|---|---|---|---|---|
| SKF SKF-A.ST | $12.7B | +18% | -10% | 12% | 16.4× | 5.8% |
| Timken TKR | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% |
| Schaeffler SHA0.DE | $5.83B | -45% | -1% | 2% | 18.4× | 10.7% |
| NSK 6471.T | $2.87B | -27% | +26% | 5% | 12.9× | 1.9% |
| Ntn 6472.T | $1.23B | -15% | +3% | 4% | 13.4× | -2.1% |
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 | SKF-A.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | -7.3% | 3rd highest of 20 |
| 6-month return | +18.2% | -14.7% | 3rd highest of 20 |
| Distance from 52-week high | -3.2% | -28.9% | 2nd highest of 20 |
| Revenue growth (TTM) | -10.4% | +20.8% | lowest of 20 |
| Operating margin | 12.1% | 11.1% | 10th highest of 20 |
| Forward P/E | 16.4× | 19.8× | 7th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.8% | 15.5% | 3rd least demanding of 11 |
| Growth delivered (Del g) | +4.1% | +16.8% | lowest of 11 |
| Hurdle (Req g minus delivered) | +1.7 pp | +2.2 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +2.6 pp | +0.9 pp | 9th highest of 20 |
| EV / EBITDA | 9.5× | 13.7× | 4th cheapest of 12 |
| Net debt / EBITDA | 0.6× | 0.3× | 4th most indebted of 13 |
| Bond spread | 72 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SKF SKF-A.ST | Sweden | $12.7B | +18% | -10% | 12% | 16.4× | 5.8% | +4.1% |
| Mueller Industries MLI | United States | $11.5B | -25% | +21% | 20% | 12.0× | 0.0% | +11.7% |
| RBC Bearings RBC | United States | $15.0B | -22% | +17% | 26% | 29.6× | 26.0% | +25.2% |
| Bluescope Steel BSL.AX | Australia | $9.53B | +4% | +2% | 6% | 10.3× | 16.7% | +5.3% |
| SSAB SSAB-A.ST | Sweden | $9.31B | +10% | +3% | 8% | 12.2× | n/a | n/a |
| Bharat Forge BHARATFORG.NS | India | $9.01B | -13% | +18% | 11% | 51.4× | 46.3% | +21.6% |
| Anhui Tongguan Copper Foil 301217.SZ | China | $8.60B | -12% | +36% | 5% | 105.6× | n/a | n/a |
| Valmont Industries VMI | United States | $7.74B | -21% | +5% | 14% | 15.9× | 10.7% | +7.2% |
| Himile Mechanical Science & Technology (Shandong) 002595.SZ | China | $7.40B | -29% | +17% | 20% | 19.8× | 8.4% | +15.9% |
| SFS SFSN.SW | Switzerland | $6.68B | +15% | +2% | 12% | 19.8× | -2.1% | +12.3% |
| Schaeffler India SCHAEFFLER.NS | India | $5.83B | -17% | +23% | 15% | 40.4× | 29.7% | +20.8% |
| Shandong Hongqiao Aluminum Industry 002379.SZ | China | $28.8B | -41% | +9,614% | 20% | 6.3× | n/a | n/a |
| Jiujiang Defu Technology 301511.SZ | China | $5.09B | -28% | +69% | 6% | 44.4× | n/a | n/a |
| JL MAG Rare-Earth 6680.HK | Hong Kong | $4.59B | -27% | +46% | 11% | 17.3× | 14.3% | +25.2% |
| POCO 300811.SZ | China | $4.24B | -15% | +48% | 24% | 38.4× | n/a | n/a |
| Hengdian Group DMEGC Magnetics 002056.SZ | China | $4.16B | -9% | +3% | 7% | 14.5× | n/a | n/a |
| PTC Industries PTCIL.NS | India | $4.09B | +45% | +95% | 19% | 174.5× | n/a | n/a |
| Shyam Metalics & Energy SHYAMMETL.NS | India | $3.84B | +47% | +26% | 9% | 19.3× | n/a | n/a |
| Endurance Technologies ENDURANCE.NS | India | $3.71B | -1% | +32% | 8% | 32.3× | 29.9% | +17.6% |
| Sinomach Precision Industry 002046.SZ | China | $3.47B | -17% | -1% | 4% | 75.7× | n/a | n/a |
SKF has 3 bonds outstanding with $1.11B face value. The agencies rate it Baa1; its bonds trade like BBB+. Weighted yield 3.68%, a spread of 72 bp over government bonds.