Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Husqvarna AB (HUSQ-B.ST)

Price updated 06 Nov 2026 09:56; TTM through 30 Sep 2026; TTM financials updated 06 Nov 2026 14:04.

Starts from TTM through 30 Sep 2026 financials in SEK and a share price of SEK 33.50. Growth begins at 2.7% a year (the valuation's blended assumption) and fades to 2.7% by year 10. Margins held at EBITDA 12.6%, net 2.3%, free cash flow 4.6% of revenue. Bear and bull move starting growth by 4.0 points and long-run growth by 1 point.

Free cash flow is more than twice net income, which is often a one-off (working capital or timing). Lean on the net income line.
Year 1 uses analyst consensus revenue growth (4.6%); year 2 is halfway back to the model's own path.
SEK 37.60Model fair value (Free-cash-flow DCF); range SEK 24.60 to SEK 60.74
12%Fair value vs today's price
LowModel confidence
25%Share of the gap to fair value the price closes by year 5

Confidence: Earnings-based DCF disagrees strongly; trailing-twelve-month data; profit and cash flow steady for 3 years; value is more than 1.5x the Earnings-based DCF value; free cash flow is more than 2x earnings, so the cash-flow value may be overstated.

5.7%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
SEK 60.00BRevenue in year 10 (base)
SEK 1.38BNet income in year 10 (base)
SEK 2.79BFree cash flow in year 10 (base)
SEK 1.34Dividend per share in year 10 (base)
SEK 46.25Implied share price in year 10 (base), today SEK 33.50
14.6%Year-10 free cash flow per share vs today's price

Free cash flow over time

-SEK 4.05B -SEK 1.93B SEK 193.50M SEK 2.32B SEK 4.44B FY2022 FY2023 FY2024 FY2025 TTM through 30 Sep 2026 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Free cash flow in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear 0.6% SEK 2.18B 0.4%
Base 4.6% SEK 2.79B 3.0%
Bull 8.6% SEK 3.55B 5.5%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– SEK 44.79BSEK 5.63BSEK 1.03BSEK 2.08B 1.803.641.0045.3433.50
Year 14.6% SEK 46.85BSEK 5.89BSEK 1.08BSEK 2.18B 1.883.811.0546.1835.26
Year 23.6% SEK 48.55BSEK 6.10BSEK 1.12BSEK 2.26B 1.953.951.0847.0436.76
Year 32.7% SEK 49.84BSEK 6.26BSEK 1.15BSEK 2.32B 2.004.051.1147.9437.97
Year 42.7% SEK 51.17BSEK 6.43BSEK 1.18BSEK 2.38B 2.064.161.1448.8539.22
Year 52.7% SEK 52.54BSEK 6.60BSEK 1.21BSEK 2.44B 2.114.271.1749.7940.50
Year 62.7% SEK 53.95BSEK 6.78BSEK 1.24BSEK 2.51B 2.174.391.2050.7641.59
Year 72.7% SEK 55.40BSEK 6.96BSEK 1.27BSEK 2.58B 2.234.501.2451.7542.70
Year 82.7% SEK 56.89BSEK 7.15BSEK 1.31BSEK 2.64B 2.294.621.2752.7643.85
Year 92.7% SEK 58.42BSEK 7.34BSEK 1.34BSEK 2.72B 2.354.751.3053.8145.03
Year 102.7% SEK 60.00BSEK 7.54BSEK 1.38BSEK 2.79B 2.414.881.3454.8846.25

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.