Why AFRY stock moves
AFRY fell, more than the market, which also fell clearly.
Written after the close on ·
Why today
15,984 news analyzed todayAFRY fell, more than the market, which also fell clearly.
Over the last five trading days AFRY was roughly unchanged, in line with a flat market.
Sector peers fell slightly over the same window.
Its next earnings report is on Thursday 4 February 2027.
Today's move of −1.82% was 2.1 times a normal day's 0.9%. OMX Stockholm 30 moved −1.01% on the same day.
AFRY −1.82%OMX Stockholm 30 −1.01%A little weaker than the market
What analysts expect, and how often they have been right
Analysts’ estimates for AFRY.
AFRY earned more than expected in 1 out of 8 reports.
For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.
The share moved in the same direction as the earnings surprise in 7 out of 8 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 129.70 SEK
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expectedSEK
Next reported quarter: expected earnings per share of 3.67 SEK (February 4). For the current fiscal year, expected earnings per share changed from 10.85 SEK three months ago to 10.95 SEK now. 2026 estimate: 10.95 SEK. 2027 estimate: 13.28 SEK. One analyst made the estimate for the quarter. People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor. October 22: Buy about 2.4 m SEK. July 16: Buy about 497 thousand SEK. July 16: Buy about 307 thousand SEK. July 16: Buy about 1.5 m SEK. July 15: Buy about 298 thousand SEK.
Has the share price followed the business?
Price and earnings moved in the same direction: 2 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed −2% and earnings per share −35%.
Revenue, profit and market cap
RevenueProfitMarket capHatched bars: analysts’ estimates.bn SEK
Assets, liabilities and market cap
AssetsLiabilitiesMarket capbn SEK
Price and earnings moved in the same direction: 2 out of 3 years.Market cap (Now): 14.7 bn SEKRevenue 2025: 25.8 bn SEK
What the key figures say about AFRY
The figures connect what AFRY earns with what investors pay.
The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.
Profit divided by the number of shares. Each share represents this much of the earnings.
2022–2025: 7.07 SEK–10.85 SEK. Peers: NCC -4.88 SEK, Bravida Holding 7.37 SEK, InstallatørGruppen -1.96 DKK. 2026 estimate: 10.95 SEK (10.40 SEK–11.40 SEK). 2027 estimate: 13.28 SEK (12.19 SEK–13.82 SEK).
What the company sold during the year.
2022–2025: 23.6 bn SEK–27.2 bn SEK. Peers: NCC 53.7 bn SEK, Bravida Holding 29.6 bn SEK, InstallatørGruppen 4.2 bn DKK. 2026 estimate: 25.5 bn SEK (25.3 bn SEK–25.8 bn SEK). 2027 estimate: 26.7 bn SEK (25.8 bn SEK–27.3 bn SEK).
The percentage of revenue left after the costs of running the business.
2022–2025: 5.4%–7.1%. Peers: NCC 2.8%, Bravida Holding 6.2%, InstallatørGruppen 4.8%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: 6.3%–9.4%. Peers: NCC −0.6%, Bravida Holding 16.5%.
The price investors pay for each unit of annual earnings per share. Not shown for a loss.
2022–2025: 14.2–21.2. Peers: Bravida Holding 19.4. 2026 estimate: 11.8. 2027 estimate: 9.8.
What investors pay for each unit the company sells.
2022–2025: 0.59–0.82. Peers: NCC 0.34, Bravida Holding 0.98, InstallatørGruppen 0.91. 2026 estimate: 0.58. 2027 estimate: 0.55.
Money paid to shareholders per share, summed by calendar year.
2017–2025: 0.00 SEK–6.00 SEK.
The ordinary yearly dividend as a percentage of the share price.
2022–2025: 3.2%–4.0%. Peers: NCC 4.8%, Bravida Holding 2.6%, InstallatørGruppen 0.0%.
Net debt divided by operating earnings before depreciation and amortisation.
2022–2025: 2.05–2.95. Peers: NCC 1.00, Bravida Holding 1.34, InstallatørGruppen 2.05.
More key figures
Market cap divided by shareholders’ equity, what remains after liabilities.
2022–2025: 1.27–1.59. Peers: NCC 2.20, Bravida Holding 3.06, InstallatørGruppen 1.18.
Market cap plus net debt, divided by operating earnings. This includes debt.
2022–2025: 11.7–18.6.
Cash left after investments, divided by the number of shares.
2022–2025: 7.87 SEK–18.77 SEK. Peers: NCC 18.78 SEK, Bravida Holding 11.87 SEK.
The percentage of assets financed by shareholders’ equity.
2022–2025: 43.5%–46.9%.
The dividend explained
A dividend is money paid to shareholders. AFRY paid 6.00 SEK per share in the twelve months through November 6, 2026.
On the ex-dividend day, April 29, 2026, AFRY traded without the right to the 6.00 SEK dividend. The price went from 119.80 SEK to 112.20 SEK; including the dividend, the day's change was −1.3%. Entitlement passes from the company to shareholders on the ex-day; payment comes later.
2017: 4.01 SEK2018: 4.45 SEK2019: 5.00 SEK2020: 0.00 SEK2021: 5.00 SEK2022: 5.50 SEK2023: 5.50 SEK2024: 5.50 SEK2025: 6.00 SEK2026 so far: 6.00 SEK
What to watch next, and why
The earnings report shows how AFRY's revenue and profit have changed.
- Earnings report
The earnings report shows how AFRY's revenue and profit have changed.
Add to calendar
More about AFRY
Insider trades
People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor.
- Tom Eriksson, chairBuyabout 2.4 m SEK
- Linda Pålsson, CEOBuyabout 497 thousand SEK
- Christina Schauman, board memberBuyabout 307 thousand SEK
- Tom Eriksson, chairBuyabout 1.5 m SEK
- Bo Erik Sandström, CFOBuyabout 298 thousand SEK
Earnings report
Next report: · Add to calendar · Google Calendar
On its last 15 report days AFRY usually moved about 5.8%. On a normal day it moves 0.9%.
+16.59% Why? −4.58% −5.82% −5.13%
10,000 SEK in AFRY bought on November 7, 2016 is worth 11,700 SEK today, with dividends reinvested.
What would 10,000 SEK in AFRY be worth today? →
What would 10,000 SEK in AFRY be worth today?
11,700 SEK
with dividends reinvested, bought on November 7, 2016.
At worst it was worth 8,490 SEK (October 27, 2023).
The five biggest days of the journey
· +16.6% · the whole market fell 2.5% the same day · report day · Why?
· −14.4% · the whole market rose 0.3% the same day · report day
· +14.0% · the whole market rose 0.1% the same day · report day
· −12.1% · the whole market rose 0.2% the same day · report day
· −11.4% · the whole market fell 0.7% the same day · report day
Earlier days
+0.00% market −0.11% AFRY, the Swedish engineering and consulting company listed on Nasdaq Stockholm, was roughly unchanged over the week, while the OMX Stockholm 30 index was also roughly flat. Read →
AFRY, the Swedish engineering and consulting company listed on Nasdaq Stockholm, was roughly unchanged over the week, while the OMX Stockholm 30 index was also roughly flat.
Last session the shares fell clearly, more than the market, which fell clearly too.
Next, the next earnings report is due on Thursday 4 February 2027.
+0.76% market −0.32% AFRY rose slightly without company news. Read →
AFRY rose slightly without company news.
Over the last five trading days AFRY rose clearly and outperformed OMX Stockholm 30, which rose slightly.
Earlier, Kepler Cheuvreux upgraded AFRY to hold and raised its target price to 136 kronor, and Q3 earnings were higher, which likely supported the rally.
The move was an ordinary one for AFRY.
+1.24% market +0.83% AFRY rose with the market. Read →
AFRY rose with the market.
Over the last five trading days AFRY rose slightly, in step with OMX Stockholm 30.
Trading volume was about twice a normal session, and the stock sits well above its yearly low but below its yearly high.
Likely drivers are broad market strength and the post-earnings rerating after its higher third-quarter results.
Next earnings report: Thursday 4 February 2027.
+1.33% market −0.29% AFRY rose, and the company's own news explains it. Read →
AFRY rose, and the company's own news explains it.
AFRY moved against the market, which fell slightly over the same day.
Its architecture-topping news was published that day, but no company report or analyst move happened in that session.
Over the last five trading days AFRY rose clearly, in line with the market.
Likely drivers include the strong Q3 2026 results that beat expectations, a larger order backlog, and an improving margin.
+3.35% market +3.01% AFRY rose clearly over the week, moving in line with the OMX Stockholm 30 index. Read →
AFRY rose clearly over the week, moving in line with the OMX Stockholm 30 index.
Shares climbed after the strong third-quarter report on 22 October, which beat expectations on margins.
Analysts then lifted their price targets, the share price they see as fair, and Kepler Cheuvreux upgraded the stock to hold on 27 October.
Next, watch the fourth-quarter report due on 4 February 2027.
−1.31% market +0.41% AFRY fell, moving against a market that rose slightly. Read →
AFRY fell, moving against a market that rose slightly.
No company news from that session explains the move.
Over the last five trading days AFRY rose sharply, clearly more than OMX Stockholm 30.
Its gain came after strong third-quarter results beat expectations, and several analysts raised their price targets, the share prices they see as fair.
+1.97% market +0.33% AFRY rose clearly, well ahead of the market. Read →
AFRY rose clearly, well ahead of the market.
Company news from before the session likely lifted the shares.
Over the last five trading days, AFRY rose very sharply, a move about eleven times a normal five-day stretch and unmatched in the past year.
OMX Stockholm 30 rose only slightly over the same days.
Analysts raised their price targets, the share prices they see as fair, after the third-quarter report beat expectations.
+1.75% market +1.57% AFRY rose, moving in line with the market. Read →
AFRY rose, moving in line with the market.
Stable third-quarter results beat expectations, and the chair's share purchase added support.
Over five sessions the stock rose very sharply, against a slight market fall.
A large shareholder reported a sale of shares on 23 October.
+3.80% market +0.41% AFRY rose sharply after strong third-quarter results and analyst price target raises. Read →
AFRY rose sharply after strong third-quarter results and analyst price target raises.
The stock moved more than the broader market, which rose only slightly, so the move was company-driven.
The company beat expectations, with higher profit margins (EBITA, earnings before interest, taxes and amortization) and a larger order backlog (contracts not yet turned into sales).
Pareto Securities and ABG Sundal Collier both raised their price targets, the share price they see as fair, after the report.
Trading volume was well above normal, and the move was very large for the stock, so it was not an ordinary day.
+19.07% market −3.67% AFRY rose very sharply over the last five trading days, moving against a market that fell sharply. Read →
AFRY rose very sharply over the last five trading days, moving against a market that fell sharply.
The move was very big for the stock: a stretch this large has not happened in the past year.
The main driver was likely the Q3 2026 report published yesterday, which beat expectations on higher margins, the profit share of sales, and a stronger order backlog, the work already contracted.
Analysts also raised their price targets, the share prices they see as fair.
+16.59% market −2.51% AFRY rose very sharply, against a falling market, on its third-quarter results. Read →
AFRY rose very sharply, against a falling market, on its third-quarter results.
The market, measured by OMX Stockholm 30, fell sharply over the same session, so AFRY moved strongly against it.
The quarter beat expectations, with adjusted operating profit (EBITA, earnings before interest, taxes and amortization) up and margin improving, though organic sales (growth excluding acquisitions and currency) still declined.
Trading volume was well above its usual level, and the move was very big for AFRY, while the day's report-day move was typical for its results.
Learn more · Why do stocks go up and down?