Husqvarna AB
Husqvarna AB (publ) produces and sells outdoor power products, watering products, and lawn care power equipment. It operates through three segments: Husqvarna Forest & Garden; Gardena; and Husqvarna Construction. The Husqvarna Forest & Garden segment offers handheld products, such as chainsaws, bru…
Husqvarna AB (publ) produces and sells outdoor power products, watering products, and lawn care power equipment. It operates through three segments: Husqvarna Forest & Garden; Gardena; and Husqvarna Construction. The Husqvarna Forest & Garden segment offers handheld products, such as chainsaws, brush cutters, trimmers, pole saws, tillers and cultivators, scarifiers and dethatchers, pressure and power washers, and leaf blowers; wheeled products, such as front riders and zero-turn mowers; robotic lawn mowers; and accessories and spare parts. The Gardena segment provides residential and smart watering; garden hand tools; electric battery-system gardening tools; and smart garden systems. The Husqvarna Construction segment offers power cutters, floor saws, surface preparation equipment, dust and slurry solutions, diamond tools for construction and stone industries, and demolition robots. The company sells its products and solutions to forestry, tree care, landscaping, commercial lawn, and garden services sectors, as well as home and garden owners, and light construction and stone industries primarily under the Husqvarna, Gardena, Jonsered, Orbit, Flymo, RedMax, Zenoah, and McCulloch brands through dealers and retailers. It operates in Germany, France, Sweden, the United Kingdom, Austria, rest of Europe, the Asia/Pacific, Canada, the United States, Latin America, and internationally. Husqvarna AB (publ) was founded in 1689 and is headquartered in Stockholm, Sweden.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF disagrees strongly.
Other models: SEK 25.15–104.55 (median 37.71). The recommended value is in line with them.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price within modeled range
Free-cash-flow DCF using TTM through 30 Sep 2026 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 2.65% growth, 2.7% terminal growth, and 10% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 2.65%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 2.6% (sector default 6.2%, own revenue history -4.8%, analyst revenue consensus 4.6%).
Analyst consensus expects revenue growth of 4.6% a year; the growth assumption used is 2.7%.
Adjust assumptions
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — SEK 37.60 (+12.2%)
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EPS-based Gordon proxy
— SEK 25.15 (-24.9%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— SEK 37.60 (+12.2%)
Not used: Free cash flow is 2.0x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
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FCFF (steady state)
— SEK 37.71 (+12.6%)
Not used: Free cash flow is 2.0x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
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EV/EBITDA (12x)
— SEK 104.55 (+212.1%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— SEK 37.61 (+12.3%)
Not used: Free cash flow is 2.0x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
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EV/Sales (Rule of 40)
— SEK 224.76 (+570.9%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear SEK 24.60 | -36.2% |
| Base SEK 37.60 | 10.9% |
| Bull SEK 60.74 | 44.8% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At SEK 33.50 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.7%, discount 10.0%).
Compare: the market implies 0.7% a year, this model assumes 2.7%. The model is more optimistic than the price, which is why it reads as undervalued.
How the Free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 8.0% | 9.0% | 10.0% | 11.0% | 12.0% |
|---|---|---|---|---|---|
| -1.4% | 45.34 | 36.16 | 29.49 | 24.43 | 20.45 |
| 0.6% | 50.89 | 40.76 | 33.40 | 27.81 | 23.42 |
| 2.7% | 56.88 | 45.71 | 37.60 | 31.45 | 26.61 |
| 4.7% | 63.33 | 51.04 | 42.12 | 35.36 | 30.04 |
| 6.7% | 70.27 | 56.77 | 46.98 | 39.55 | 33.72 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 70 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue -4.6% a year | 4 / 20 |
| Balance sheet | net debt 1.4x EBITDA | 20 / 20 |
| Margins | EBITDA margin 13% | 10 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| HUSQ-B.ST (this company) | SEK 33.50 | 10.9% | 18.6 | 0.7 | 3.0% | 70 |
| EZJ.L easyJet plc | GBP 6.88 | 74.3% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.80 | 64.5% | 7.1 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.37 | 58.9% | 8.0 | 3.5 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.54 | 54.7% | – | 0.8 | 2.1% | 46 |
| SRP.L Serco Group plc | GBP 2.77 | 46.2% | 19.7 | 3.3 | 1.5% | 82 |
| DFDS.CO DFDS A/S | DKK 157.30 | 45.9% | – | 0.6 | – | 64 |
| DG.PA VINCI SA | EUR 111.75 | 42.2% | 12.9 | 2.1 | 4.2% | 90 |
| MPCC.OL MPC Container Ships ASA | NOK 24.23 | 33.5% | 5.5 | 1.1 | 0.7% | 80 |
| Peer median | 9.3 | 1.8 | ||||
Dividends
Paid in the last 12 months: SEK 1.25 per share · yield 3.73% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.250 |
| 2025 | 1.000 |
| 2024 | 3.000 |
| 2023 | 3.000 |
| 2022 | 3.000 |
| 2021 | 2.400 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 05 Nov 2026 16:06
| Revenue | SEK 44,786,000,000 |
|---|---|
| EBITDA | SEK 5,626,000,000 |
| EBIT | SEK 2,663,000,000 |
| Net income | SEK 1,030,000,000 |
| Free cash flow | SEK 2,082,000,000 |
| Capital expenditures | SEK 1,964,000,000 |
| Debt | SEK 13,124,000,000 |
| Cash | SEK 5,400,000,000 |
| Working capital | SEK 10,823,000,000 |
| Shares outstanding | 571,876,866 |