Skanska SKA-B.ST
Skanska is a Swedish construction and property development company with operations in Europe and the US, developing buildings, infrastructure, and data centers, as well as promoting and selling residential and commercial developments. Skanska shows solid financial health with net cash (ND/EBITDA -0.06) and 52.4% earnings growth, driven by a diversified order book including data center and infrastructure contracts in the US. However, its operating margin (4.99%) and cash conversion (23.36%) are weak, limiting business quality.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Skanska is a Swedish construction and property development company with operations in Europe and the US, developing buildings, infrastructure, and data centers, as well as promoting and selling residential and commercial developments. Skanska shows solid financial health with net cash (ND/EBITDA -0.06) and 52.4% earnings growth, driven by a diversified order book including data center and infrastructure contracts in the US. However, its operating margin (4.99%) and cash conversion (23.36%) are weak, limiting business quality.
Score by category
| Category | Score |
|---|---|
| Financial health | 7.1 |
| Quality / Moat | 3.8 |
| Valuation | 5.9 |
| Growth | 7.3 |
| Dividend | 7.2 |
| Momentum | 6.4 |
| Risk & Context | 6.9 |
OVERALL SCORE: 6.0/10
Context and risks
Skanska's construction and property development business is sensitive to interest rates, but its balance sheet is solid and its exposure to the rate cycle is moderate. The main risk is a slowdown in commercial property development in a high-rate environment, already reflected in its low operating margin (4.99%).
News considered in the analysis
- Skanska (OM:SKA B) Lands Georgia Data Center Contract As Fair Value Debate Tightens — Nuevo contrato de centro de datos en EE.UU., refuerza la cartera de pedidos en un segmento de alto crecimiento.
- Data centers are eating up steel. Developers are now looking at timber. — Tendencia sectorial sin impacto directo cuantificable en los resultados de Skanska.
- Skanska starts work on Nowy Format office complex in Poland — Inicio de un proyecto de oficinas en Polonia, contribución moderada a la cartera de desarrollo.
- Skanska wins $114m contract for I-395 Northbound Bridge rehabilitation — Contrato de infraestructura de 114 millones de dólares, refuerza la cartera de pedidos en EE.UU.
- Skanska names new US infrastructure CFO — Cambio de directivo sin impacto material en la valoración.
Verdict: Hold; the solid order book and clean balance sheet offset tight margins, but valuation offers no clear margin of safety.
Main risk: The structurally low operating margin (4.99%) in a cyclical and competitive construction business, which can erode profitability if material costs or demand deteriorate.
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