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Employees: 2,190
Size VBG (VBG-B.ST) is a Sweden Industrials company (Trucks/Construction/Farm Machinery) with a market value of $734M, the 153rd largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 287.50 on 6 Nov 2026.
Performance Over six months the shares fell 15.8%, against -16.5% for the median peer and +8.2% for the Sweden market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 4.8% over the last twelve months (peer median +7.9%); the operating margin is 10.1% (peer median 3.5%).
Valuation It trades at 16.2× forward earnings against a peer median of 19.2× (4th cheapest of 12).
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 +11%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.2 points above its cost of capital (6.5% WACC).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 5.62B | SEK 5.39B | SEK 5.58B | SEK 5.74B | SEK 4.58B |
| Revenue growth | — | -3% | -3% | +25% | — |
| Gross profit | SEK 1.70B | SEK 1.60B | SEK 1.69B | SEK 1.71B | SEK 1.29B |
| EBITDA | SEK 770M | SEK 813M | SEK 871M | SEK 952M | SEK 620M |
| Net income | SEK 418M | SEK 422M | SEK 542M | SEK 572M | SEK 368M |
| Free cash flow | SEK 138M | SEK 224M | SEK 207M | SEK 611M | SEK 199M |
| Capital expenditure | SEK 547M | SEK 317M | SEK 593M | SEK 115M | SEK 118M |
| Total debt | SEK 1.97B | SEK 1.75B | SEK 1.15B | SEK 1.02B | SEK 1.02B |
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.
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 | VBG-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.8% | -5.3% | 10th lowest of 21 |
| 6-month return | -15.8% | -16.5% | 11th highest of 21 |
| Distance from 52-week high | -30.6% | -31.0% | 10th highest of 21 |
| Revenue growth (TTM) | +4.8% | +7.9% | 10th lowest of 21 |
| Operating margin | 10.1% | 3.5% | 5th highest of 21 |
| Forward P/E | 16.2× | 19.2× | 4th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 2.7% | 10.3% | least demanding of 11 |
| Growth delivered (Del g) | +11.4% | +6.5% | 3rd highest of 11 |
| Hurdle (Req g minus delivered) | -8.6 pp | +2.5 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +2.2 pp | -3.6 pp | 4th highest of 21 |
| EV / EBITDA | 10.5× | 10.0× | 3rd most expensive of 7 |
| Net debt / EBITDA | 1.1× | 1.8× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| VBG VBG-B.ST | Sweden | $734M | -16% | +5% | 10% | 16.2× | 2.7% | +11.4% |
| Shanghai Chuangli 603012.SS | China | $738M | -12% | -17% | 5% | n/a | 8.1% | +2.8% |
| Wetown Electric 688226.SS | China | $729M | -55% | +54% | 3% | 29.9× | n/a | n/a |
| Jinxi Axle 600495.SS | China | $728M | -6% | +19% | -1% | n/a | 22.1% | +2.6% |
| Niutech Technology 688309.SS | China | $753M | -10% | +79% | 26% | n/a | n/a | n/a |
| Shandong Mining Machinery 002526.SZ | China | $754M | -15% | -6% | 1% | n/a | n/a | n/a |
| Xiamen XGMA Machinery 600815.SS | China | $756M | -36% | +21% | -21% | n/a | n/a | n/a |
| Jianglong Shipbuilding 300589.SZ | China | $699M | -25% | -9% | -12% | 42.5× | n/a | n/a |
| Endur ENDUR.OL | Norway | $696M | +7% | +88% | 5% | 19.2× | 8.8% | +88.7% |
| Hangzhou Advance Gearbox 601177.SS | China | $786M | -19% | +1% | 4% | n/a | 14.5% | +4.6% |
| Ajax Engineering AJAXENGG.NS | India | $676M | +1% | +1% | 12% | 24.3× | 25.4% | +23.2% |
| Gemac Engineering Machinery 301048.SZ | China | $801M | -8% | +7% | 8% | n/a | 4.1% | +4.0% |
| Greenworks (Jiangsu) 301260.SZ | China | $804M | -35% | -1% | -8% | 19.1× | n/a | n/a |
| Manitowoc MTW | United States | $808M | -3% | +9% | 3% | 16.2× | 11.2% | +9.2% |
| Power HF 605100.SS | China | $816M | -35% | +17% | 2% | n/a | n/a | n/a |
| Astec Industries ASTE | United States | $822M | -33% | +19% | 5% | 9.8× | 9.5% | +6.6% |
| Chengdu Xiling Power Science & Technology 300733.SZ | China | $831M | -9% | +4% | 3% | 29.3× | n/a | n/a |
| Douglas Dynamics PLOW | United States | $839M | -20% | +23% | 13% | 11.0× | 5.6% | +6.4% |
| CSBC Corp. Taiwan 2208.TW | Taiwan | $642M | -18% | -15% | -5% | n/a | n/a | n/a |
| Beijing Tianma Intelligent Control Technology 688570.SS | China | $628M | -22% | -5% | -1% | 44.5× | 14.1% | +6.8% |
| Balu Forge Industries BALUFORGE.NS | India | $624M | -10% | +31% | 26% | 15.9× | n/a | n/a |