Afry AB (AFXXF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Afry AB (AFXXF) trades at $12.90 with AI Score 50/100 (Grade B). Afry AB is a global engineering, design, and advisory firm providing comprehensive services across infrastructure, industry, energy, and digitalization sectors. Market cap: $1.41B, Sector: Industrials.
Price live · AI analysis from Jun 14, 2026Analyst Coverage for AFXXF: AFXXF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates AFXXF against Industrials peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
AFXXF: the 1 perspectives are evenly split.
How is this calculated? →Afry AB (AFXXF) Industrial Operations Profile
Afry AB, a venerable firm founded in 1895 and headquartered in Stockholm, Sweden, specializes in engineering, design, and advisory services. It operates across infrastructure, industry, energy, and digitalization sectors internationally, offering comprehensive technical and strategic solutions to a broad client spectrum.
What Is the Investment Thesis for AFXXF?
Afry AB presents an investment profile characterized by its established market position, diversified service offerings, and significant international presence within the Industrials sector. With a market capitalization of $1.41B and a P/E ratio of 16.4, the company demonstrates a valuation reflective of its stable operations in engineering and consulting. A notable dividend yield of 5.28% indicates a commitment to shareholder returns. The company's extensive portfolio, spanning infrastructure, industry, energy, and digitalization, positions it to capitalize on global trends such as urbanization, industrial automation, renewable energy transition, and digital transformation. Its operations across key European markets provide geographic diversification and access to varied economic growth drivers. However, the reported gross margin of -10.8% warrants close scrutiny, suggesting potential cost structure challenges or specific accounting treatments that impact profitability at the gross level, despite a positive profit margin of 3.1%. The company's beta of 1.11 indicates slightly higher volatility compared to the broader market. Future growth catalysts include continued investment in sustainable solutions, expansion of digital services, and participation in large-scale infrastructure projects, while managing cost efficiencies will be crucial for improving gross profitability.
Based on FMP financials and quantitative analysis
AFXXF Key Highlights
- Market Capitalization: $1.83 billion, reflecting its substantial scale within the global engineering and consulting services market.
- P/E Ratio: 16.40, indicating the market's valuation of its earnings performance relative to its industry peers.
- Dividend Yield: 5.28%, offering a significant income component for investors and demonstrating a commitment to shareholder returns.
- Employee Base: 18,091 employees, highlighting its extensive human capital and operational capacity across diverse service lines and geographies.
- International Presence: Operations spanning Sweden, Finland, Norway, Switzerland, Denmark, Germany, and other international markets, showcasing diversified revenue streams and reduced reliance on any single regional economy.
Who Are AFXXF's Competitors?
AFXXF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| MSA MSA Safety Incorporated | $171.85 | +0.22% | $6.63B | 83 |
| EKIVF Enka Insaat ve Sanayi A.S. | $1.12 | +7.14% | $6.39B | 64 |
| AGX Argan, Inc. | $738.72 | +4.61% | $10.36B | 62 |
| LGN Legence Corp. | $77.08 | +1.64% | $9.33B | 60 |
| ECG Everus Construction Group, Inc. | $143.13 | +3.52% | $7.31B | 59 |
| PRIM Primoris Services Corporation | $88.20 | -5.10% | $4.79B | 50 |
| MCDIF Mcdermott International Ltd. | $23.25 | +2.20% | $663.44M | 50 |
| TTEK Tetra Tech, Inc. | $31.22 | +4.41% | $8.10B | 50 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are AFXXF's Key Strengths?
- Long-standing history and established brand reputation since 1895.
- Diverse service portfolio across infrastructure, industry, energy, and digitalization.
- Significant international footprint in key European markets.
- Large and experienced workforce of 18,091 employees.
- Strong focus on sustainability and digital solutions, aligning with market trends.
What Are AFXXF's Weaknesses?
- Reported gross margin of -10.8% indicates potential challenges in cost management or pricing strategies at the operational level.
- Reliance on project-based work can lead to revenue volatility.
- Exposure to economic cycles in the construction and industrial sectors.
- Potential for intense competition from both global and local engineering firms.
What Could Drive AFXXF Stock Higher?
- Increased government spending on infrastructure projects in its core European markets, driving demand for its engineering and advisory services.
- Continued global shift towards renewable energy, creating sustained demand for Afry AB's energy sector engineering and consulting expertise.
- Expansion of digitalization initiatives across industries, potentially boosting demand for its Industrial & Digital Solutions division.
- Growing corporate focus on environmental, social, and governance (ESG) factors, leading to more projects requiring Afry AB's sustainability solutions.
- Strategic partnerships or acquisitions that could expand its service offerings or geographic reach.
What Are the Key Risks for AFXXF?
- Financial-distress signal — its Altman Z-Score of 1.71 sits in the distress zone (elevated bankruptcy risk).
- Sustained negative gross margin of -10.8% could indicate underlying operational inefficiencies or pricing pressures that may impact long-term profitability.
- Exposure to economic downturns in key operating regions, which could reduce demand for engineering and construction services.
- Intense competition within the engineering and consulting sector, potentially leading to pricing pressures and reduced contract wins.
- Fluctuations in project pipelines and contract awards, which can lead to revenue volatility.
- Challenges in attracting and retaining skilled engineering and advisory talent in a competitive labor market.
What Are the Growth Opportunities for AFXXF?
- Digital Transformation Services: The global push for digitalization across industries, including smart infrastructure, industrial automation, and data-driven decision-making, presents a significant growth avenue. Afry AB's Industrial & Digital Solutions division is well-positioned to capture a share of this market, which is projected to reach trillions of dollars globally by 2030. By offering advanced digital solutions, information and communication technology services, and automation expertise, the company can enhance its value proposition and secure long-term contracts in a rapidly evolving technological landscape.
- Sustainable Infrastructure Development: With increasing global focus on climate change and environmental sustainability, there is a growing demand for eco-friendly and resilient infrastructure. Afry AB's environmental and sustainability solutions, coupled with its expertise in building solutions and transport infrastructure, align directly with this trend. The market for green building and sustainable infrastructure is expanding rapidly, driven by regulatory mandates and corporate ESG commitments, offering substantial project opportunities over the next decade in its core European markets and beyond.
- Renewable Energy Transition Projects: The global transition from fossil fuels to renewable energy sources like wind, solar, and hydropower requires extensive engineering and advisory services for planning, design, and implementation. Afry AB's Energy division is equipped to support these large-scale projects, including grid modernization and energy efficiency initiatives. This market is expected to see sustained growth through 2040, fueled by national energy policies and technological advancements, providing a consistent pipeline of high-value projects for the company.
- Expansion in Process Industries: Afry AB's services for processing industries, including mining and metals, food and beverage, pulp and paper, and chemical sectors, offer a stable and recurring revenue stream. As these industries undergo modernization, efficiency improvements, and sustainability upgrades, there is continuous demand for specialized engineering and consulting. The global process automation market alone is anticipated to grow significantly, indicating ongoing opportunities for Afry AB to provide automation, design, and advisory services to these foundational industrial clients over the medium to long term.
- Strategic Management Consulting: The Management Consulting division provides high-value advisory services, helping clients navigate complex challenges, optimize operations, and formulate strategic plans. As businesses face increasing complexity from technological disruption, regulatory changes, and global competition, the demand for expert consulting remains robust. This segment often commands higher margins and can open doors for cross-selling other engineering services. The global management consulting market is projected to continue its steady expansion, offering Afry AB opportunities to deepen client relationships and secure strategic engagements.
What Opportunities Does AFXXF Have?
- Growing global demand for sustainable infrastructure and renewable energy projects.
- Increasing adoption of digitalization and industrial automation across various industries.
- Expansion into new geographic markets or deeper penetration in existing ones.
- Strategic acquisitions to enhance capabilities or market share.
- Leveraging expertise in environmental solutions to capitalize on ESG initiatives.
What Threats Does AFXXF Face?
- Economic downturns impacting infrastructure and industrial investment.
- Intensified competition leading to pricing pressures and reduced margins.
- Shortage of skilled engineering talent.
- Regulatory changes or political instability in key operating regions.
- Technological disruption from new market entrants or innovative solutions.
What Are AFXXF's Competitive Advantages?
- Extensive history and established reputation since 1895, fostering trust and long-term client relationships.
- Broad and diversified service portfolio covering multiple critical sectors, reducing reliance on any single market.
- Significant international presence and local expertise in key European markets.
- Large employee base (18,091) representing a deep pool of specialized engineering and consulting talent.
- Integration of sustainability and digitalization expertise, aligning with future market demands.
What Does AFXXF Do?
Afry AB, established in 1895 and headquartered in Stockholm, Sweden, has evolved into a prominent global engineering, design, and advisory company. Initially founded as a Swedish engineering firm, it has expanded significantly over more than a century, culminating in its rebranding from ÅF Pöyry AB (publ) to Afry AB in June 2021. The company's core business revolves around providing specialized services for critical sectors including infrastructure, industry, energy, and digitalization, with operations spanning Sweden, Finland, Norway, Switzerland, Denmark, Germany, and other international markets. Afry AB is structured into five distinct divisions: Infrastructure, Industrial & Digital Solutions, Process Industries, Energy, and Management Consulting, allowing for specialized expertise and tailored service delivery across its diverse client base. Its extensive service portfolio includes architecture and design, automation and manufacturing solutions, automotive and mobility services, and comprehensive building solutions for a wide array of facilities such as airports, hospitals, and housing. Furthermore, Afry AB is involved in defense technology systems, digital solutions, information and communication technology, and engineering consulting for energy and power applications. The company's commitment to sustainability is evident in its environmental and sustainability solutions, alongside specialized services for the food, life science, and pharmaceutical industries. It also offers management consulting, solutions for processing industries like mining and metals, pulp and paper, and chemicals, product development, project management, transport infrastructure services, and water management solutions. This broad and deep service offering positions Afry AB as a comprehensive partner for complex projects globally, driven by its long history of innovation and technical excellence.
What Products and Services Does AFXXF Offer?
- Provide engineering, design, and advisory services across various sectors.
- Offer architecture and design services for diverse building types, including airports, hospitals, and housing.
- Develop automation and manufacturing solutions for industrial clients.
- Deliver digital solutions and information and communication technology services.
- Consult on energy and power applications, supporting the energy transition.
- Provide environmental and sustainability solutions for various projects.
- Offer specialized services for food, life science, and pharmaceutical industries.
- Manage complex projects and provide transport infrastructure services.
How Does AFXXF Make Money?
- Revenue generated through fees for engineering, design, and advisory services on a project basis.
- Income derived from long-term consulting contracts and strategic partnerships.
- Diversified revenue streams across five main divisions: Infrastructure, Industrial & Digital Solutions, Process Industries, Energy, and Management Consulting.
- International operations contribute to revenue, serving clients in multiple European countries and beyond.
What Industry Does AFXXF Operate In?
Afry AB operates within the highly competitive and fragmented Engineering & Construction industry, a sector characterized by long project cycles, technical complexity, and increasing demand for sustainable and digital solutions. The global market for engineering services is driven by ongoing urbanization, infrastructure development needs, industrial modernization, and the imperative for energy transition. Afry AB's broad service portfolio, encompassing infrastructure, industrial, energy, and digitalization solutions, positions it to address these multifaceted demands. The company competes with both large multinational consultancies and specialized local firms. Its presence in key European markets such as Sweden, Finland, Norway, Switzerland, Denmark, and Germany allows it to tap into mature economies with consistent demand for advanced engineering and advisory services. The industry is currently experiencing a shift towards greater integration of digital technologies, data analytics, and environmental, social, and governance (ESG) considerations, which Afry AB addresses through its dedicated digitalization and sustainability offerings.
Who Are AFXXF's Key Customers?
- Government agencies and public sector entities for infrastructure projects.
- Industrial corporations seeking automation, manufacturing, and process optimization solutions.
- Energy companies involved in power generation, transmission, and renewable energy development.
- Commercial and residential developers requiring architectural and building solutions.
- Companies in the food, life science, and pharmaceutical sectors needing specialized engineering.
Afry AB Financial Trajectory
Afry AB (AFXXF) reported $6.30B in revenue for Q1 2026, a decline of 4.9% compared to the prior quarter. The company recorded net income of $239.2M, with diluted EPS of $2.12. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Industrials. Across the four most recent quarters, AFXXF averaged $1.74 in diluted EPS.
Company Profile
Afry AB operates in the Engineering & Construction industry within the Industrials sector. It is headquartered in Stockholm, SE. The company is led by CEO Linda Palsson. AFXXF has traded publicly since 2019.
How Afry AB Is Valued
Afry AB carries a market capitalization of $1.41B, placing it in the small-cap category. Relative to its peer group, AFXXF's quantitative score of 50/100 is below the peer average of 66/100.
ROE 6%Key Financial Metrics
Return on equity for Afry AB stands at 6.2%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 2.8%, showing how much profit it generates from its asset base. AFXXF trades at a trailing price-to-earnings ratio of 16.40, below the Industrials sector average of ~30x. Its free cash flow yield is 15.6%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.20 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 6.1%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 5/9Financial Health
Afry AB's Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.71 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project Afry AB revenue of about $25.16B for fiscal 2026, with EPS near $11.05. The estimate reflects 5 contributing analysts.
AFXXF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Afry's growth potential, reflecting a positive outlook on future projects.
- Community sentiment has shifted positively, with discussions highlighting Afry's strategic expansions in sustainable engineering services.
- The increasing global focus on sustainability plays to Afry's strengths, positioning the company as a leader in green solutions.
- Recent partnerships in renewable energy projects have bolstered Afry's reputation, attracting attention from investors seeking eco-friendly investments.
Bear Case
- Concerns over the macroeconomic environment could impact Afry's project pipeline, with potential delays in client budgets.
- Some community members express skepticism about Afry's ability to scale effectively in a competitive market, raising doubts about long-term growth.
- Recent project cancellations in key markets have led to discussions about revenue stability, causing unease among investors.
- Market perception remains cautious, with analysts highlighting potential risks in the construction sector that could affect Afry's performance.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · April 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $6.30B | $239M | $2.12 |
| Q4 2025 | $6.63B | $219M | $1.94 |
| Q3 2025 | $5.65B | $136M | $1.20 |
| Q2 2025 | $6.67B | $193M | $1.70 |
Based on FMP financials and quantitative analysis
AFXXF Latest News
No recent news available for AFXXF.
AFXXF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for AFXXF.
Price Targets
Wall Street price target analysis for AFXXF.
AFXXF MoonshotScore
What does this score mean?
The MoonshotScore rates AFXXF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Linda Palsson
CEO
Unknown. Specific career history and educational background are not provided in the source data.
Track Record: Linda Palsson serves as the CEO of Afry AB, overseeing a substantial global workforce of 18,091 employees. Her leadership is instrumental in guiding the company's strategic direction and operational execution across its diverse engineering, design, and advisory service offerings.
AFXXF OTC Market Information
Afry AB trades on the OTC market under the 'OTC Other' tier. This classification signifies that the company does not meet the requirements for higher OTC tiers like OTCQX or OTCQB, nor does it qualify for listing on major exchanges such as the NYSE or NASDAQ. Companies in the 'OTC Other' tier typically have limited public information, may not regularly file with the SEC, and often have less stringent reporting standards compared to higher tiers, which can impact transparency and investor access to financial data.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Information: The 'Unknown' disclosure status means investors have less access to comprehensive and timely financial and operational information, increasing investment risk.
- Lower Liquidity: Reduced trading volume can make it difficult to enter or exit positions efficiently, potentially leading to significant price fluctuations.
- Regulatory Oversight: OTC Other companies generally face less stringent regulatory oversight compared to exchange-listed or higher-tier OTC stocks, which can expose investors to greater risks.
- Price Volatility: Lower liquidity and less transparency can contribute to higher price volatility, making the stock more susceptible to large swings.
- Fraud Risk: The lack of robust disclosure requirements can increase the potential for fraud or misrepresentation, although no such issues are indicated for Afry AB.
- Verify the company's official website for any direct investor relations information or reports.
- Scrutinize any available financial statements, even if not SEC-filed, for consistency and completeness.
- Research independent news articles and industry reports mentioning Afry AB.
- Assess the company's business operations and market presence through non-financial sources.
- Understand the specific risks associated with the 'OTC Other' tier and 'Unknown' disclosure status.
- Consult with a financial advisor experienced in OTC markets.
- Evaluate the company's management team and their track record, if any information is available.
- Long Operating History: Founded in 1895, Afry AB has a substantial operational history, indicating a well-established business.
- Significant Employee Base: With 18,091 employees, the company demonstrates a considerable scale of operations and human capital.
- International Presence: Operations in multiple European countries suggest a legitimate and active business with a broad reach.
- Clear Business Description: The detailed description of services across diverse sectors indicates a defined and active business model.
- Headquartered in Stockholm, Sweden: A recognized and stable economic environment for corporate operations.
Afry AB Industrials Stock: Key Questions Answered
What does Afry AB do?
Afry AB is a comprehensive global engineering, design, and advisory firm with a rich history dating back to 1895. Headquartered in Stockholm, Sweden, the company provides a wide array of services across critical sectors including infrastructure, industry, energy, and digitalization. Its offerings span architecture, automation, automotive, building solutions, defense technology, digital solutions, energy consulting, environmental services, and specialized support for process industries like mining, food, and pharmaceuticals. Afry AB operates through five divisions—Infrastructure, Industrial & Digital Solutions, Process Industries, Energy, and Management Consulting—serving clients internationally in countries such as Sweden, Finland, Norway, Switzerland, Denmark, and Germany.
What are the main risks for AFXXF?
Investors in AFXXF face several key risks, including the company's reported gross margin of -10.8%, which suggests potential challenges in its cost structure or pricing strategies that could impact overall profitability despite a positive profit margin. The company is also susceptible to economic downturns, particularly in the construction and industrial sectors within its primary European markets, which could lead to reduced demand for its services. Intense competition from other engineering and consulting firms poses a continuous threat to contract wins and pricing power. Furthermore, the inherent project-based nature of its business can introduce revenue volatility, and the company must also manage the risk of attracting and retaining highly skilled talent in a competitive industry.
How does Afry AB position itself in the competitive engineering and consulting market?
Afry AB positions itself as a diversified and comprehensive engineering, design, and advisory partner with a strong international footprint. Its competitive advantage stems from its extensive history since 1895, which has built a robust reputation and deep expertise across multiple sectors. By operating through specialized divisions like Infrastructure, Industrial & Digital Solutions, Process Industries, Energy, and Management Consulting, Afry AB can offer tailored solutions that address complex client needs. The company's focus on integrating sustainability and digitalization into its offerings further differentiates it, aligning with modern market demands and positioning it to capture growth opportunities in green infrastructure and smart industrial solutions across its core European markets.
What are the key factors to evaluate for AFXXF?
Afry AB (AFXXF) holds an AI score of 50/100 (moderate). P/E: 16.4x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does AFXXF data refresh on this page?
AFXXF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven AFXXF's recent stock price performance?
Afry AB (AFXXF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Long-standing history and established brand reputation since 1895. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider AFXXF overvalued or undervalued right now?
Afry AB (AFXXF) trades at 16.4x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying AFXXF?
Before investing in Afry AB (AFXXF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- CEO background and tenure years are not provided in the source data, hence marked as 'Unknown' or 'null'.
- Specific details for 'trackRecord' for the CEO are limited to 'managing 18091 employees' as per source.
- Gross margin of -10.8% is a direct quote from the source and is incorporated into the analysis without speculation on its cause.
- OTC disclosure status is 'Unknown' as per source, which impacts the depth of analysis possible for liquidity and risk.