contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Aapeli Pursimo

NYAB provides services within engineering, construction and maintenance with a focus on sustainable infrastructure and renewable energy. The offering includes roads, railways, bridges, airports, wind and solar power and power grids. NYAB also provides various types of facilities for industrial customers. NYAB operates in Sweden and Finland in both the private and public sectors.

Christoffer has shared his comments as NYAB signed a project management agreement with Compute Nordic Finland Oy.  The project’s potential total construction value is approximately 100 million euros.                   Inderes              NYAB solmi datakeskussopimuksen Suomessa - Inderes    Pidämme tätä tärkeänä strategisena voittona, joka tarjoaa kaivattua näkyvyyttä Suomen toiminnoille.

And here are Christoffer’s more comprehensive comments in the form of a company report.  NYAB’s Q4 revenue was in line with our forecast, while the operating profit exceeded our expectations. According to comments from the company’s management, the utilization rate of the expanded workforce has normalized faster than we expected. Looking ahead to 2026, we expect growth to moderate from the very high levels of 2025, as NYAB faces tougher comparison figures as well as a sequentially declining, albeit still high, order backlog and a book-to-bill ratio that remained below 1x in Q4. However, we see good conditions for profitability improvement as the expanded workforce is further integrated into the project portfolio. The broader market outlook remains mixed, with continued strength in Sweden contrasting with ongoing caution in Finland. At the same time, we believe that recent large contract wins provide strong visibility into our 2026 revenue forecasts. Following the Q4 report, we have slightly raised our near-term margin assumptions while keeping our revenue forecasts unchanged. We maintain our buy rating and raise our target price to 8.0 SEK (from 7.9 SEK) following the increased earnings forecasts.                   Inderes              NYAB Q4'25: Laatua roimalla alennuksella - Inderes    NYABin Q4-liikevaihto oli linjassa ennusteemme kanssa, kun taas liikevoitto ylitti ennusteemme johdon kommenttien viitatessa laajennetun työvoiman käyttöasteen normalisoituneen odotuksiamme nopeammin.

Christoffer’s quick comments on NYAB’s morning results.  NYAB’s Q4 revenue was in line with our forecast, while operating profit exceeded our forecast. Organic revenue growth was primarily driven by high production in Sweden and the full-quarter contribution from the Consulting segment. Profitability benefited from improved project execution and the faster-than-expected integration of the expanded workforce. The order backlog remains at a high level following recent major contract wins, and management’s comments do not suggest significant changes to the market outlook for 2026. Cash flow was also seasonally strong, supporting the company’s financial flexibility. The Board of Directors proposes a dividend of EUR 0.014 per share for 2026 (dividend yield 2.3%). NYAB announced yesterday after the market close that the company has postponed its planned listing transfer to the Nasdaq Stockholm main market, which was previously expected to take place during the first quarter of 2026. The Board has not yet confirmed a new schedule for the transfer.                   Inderes              NYAB Q4'25 -pikakommentti: Liikevaihto ennusteisiin, kannattavuus osoitti...    NYABin Q4-liikevaihto oli ennusteemme mukainen, kun taas liikevoitto ylitti ennusteemme. Kannattavuus hyötyi parantuneesta projektien toteutuksesta ja laajennetun työvoiman odotettua nopeammasta käyttöönotosta

Christoffer’s comments on NYAB agreeing to the sale of its North American Dovre units to Teal Recruitment.  NYAB announced on Monday that it has signed an agreement to sell its North American subsidiaries belonging to the Dovre business to Teal Recruitment, a Canadian staffing solutions provider. The transaction includes a 100 percent stake in the shares of Dovre Canada Limited and Dovre Group Inc. (USA). The divestment is expected to be completed during the first quarter of 2026. The divestment will not lead to immediate changes in our current forecasts, and we will review these in connection with the company’s Q4 report on Thursday, February 12.                   Inderes              NYAB myy Pohjois-Amerikan Dovre-yksiköt - Inderes    Myynnin odotetaan tukevan NYABin marginaaliprofiilia, sillä Pohjois-Amerikan toiminnot ovat historiallisesti alittaneet Konsultointi-segmentin muiden yksiköiden kannattavuustasot.

Here are Christoffer’s preview comments as NYAB reports its results on Thursday, February 12th.  We expect the company to report strong revenue growth, driven by continued high activity in the Swedish market and the full-quarter contribution from the Consulting segment. We expect EBITDA margins to remain under slight pressure due to the lingering effects of the front-loaded capacity expansion carried out in the first half of 2025, but relatively stable compared to the previous quarter. Key focus areas of the report include the market outlook for 2026, order book development following recent major contract wins, comments on the latest bolt-on acquisition, and seasonal release of working capital.                   Inderes              NYAB Q4’25 -ennakko: Kannattavuus ja näkymät fokuksessa - Inderes    Raportissa keskeisiä huomion kohteita ovat markkinanäkymät vuodelle 2026, tilauskannan kehitys viimeaikaisien suurten sopimusvoittojen jälkeen, kommentit viimeisimmästä täsmäyritysostosta sekä kausiluonteinen käyttöpääoman vapautuminen.

Here are Christoffer’s comments on NYAB’s small acquisition.  NYAB announced on Friday that its subsidiary NYAB Finland Oy has signed an agreement to acquire the infrastructure business of TerraWise Oy. The acquisition is NYAB’s first in the Helsinki metropolitan area and is in line with the company’s strategy to expand into markets characterized by robust long-term investment activity. While the move is strategically sound, its modest scale suggests a limited immediate impact on NYAB’s group figures and our forecasts.                   Inderes              Pieni täsmäyritysosto avaa NYABille pääsyn pääkaupunkiseudulle - Inderes    Vaikka avaus on strategisesti järkevä, sen vaatimaton mittakaava viittaa rajalliseen välittömään vaikutukseen NYABin konsernilukuihin ja ennusteisiimme.

Christoffer has written his commentary as NYAB signed a new railway contract in Sweden.  NYAB announced on Friday that it has signed an agreement with the Swedish Transport Administration (Trafikverket) for the modernization of the Silverhöjden railway line between Ställdalen and Grängesberg. The contract value is approximately 238 MSEK (22 MEUR), and it includes large-scale track renewal over a 17.5-kilometer section, the renewal of switches, as well as drainage and bridge improvements. Construction is scheduled to begin in April 2026 and be completed in November of the same year.                   Inderes              NYAB allekirjoitti 22 MEUR:n arvoisen ratasopimuksen Ruotsin Bergslagenissa -...    Sopimuksen arvo vastaa noin 4 % vuoden 2026 liikevaihtoennusteestamme, joka on 614 MEUR. Näemme tämän tilauskertymän tukevan vahvasti nykyisiä kasvuennusteitamme

NYAB

NYAB's performance in the seasonally slower first quarter was well above our expectations. The company also commented that the market environment in its larger market area of Sweden has continued to strengthen. Reflecting the report and the stronger market outlook, we raised our growth and earnings forecasts for the coming years. With a good performance in the first quarter of the year and a brighter outlook for earnings growth, we also see the stock's risk level declining and the valuation offering a slight upside for next year. 

<p>NYAB's performance in the seasonally slower first quarter was well above our expectations. The company also commented that the market environment in its larger market area of Sweden has continued to strengthen. Reflecting the report and the stronger market outlook, we raised our growth and earnings forecasts for the coming years. With a good performance in the first quarter of the year and a brighter outlook for earnings growth, we also see the stock's risk level declining and the valuation offering a slight upside for next year.</p>

	2023	24e	25e
Revenue	280.4	345.2	390.0
growth-%	10.7 %	23.1 %	13.0 %
EBIT (adj.)	17.8	24.6	28.4
EBIT-% (adj.)	6.4 %	7.1 %	7.3 %
EPS (adj.)	0.21	0.30	0.38
Dividend	0.16	0.12	0.17
Dividend %	28.3 %	24.9 %	34.0 %
P/E (adj.)	2.6	1.7	1.3
EV/EBITDA	0.7	0.3	neg.

The outlook is brightening in Sweden

Login required

Key Estimate Figures09.05.2024

Forum discussions