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Afry Valuation Multiples

Discover revenue and EBITDA valuation multiples for Afry and similar public comparables like Arcadis, Ferrovial, and NMDC Energy.

Afry Overview

About Afry

Afry AB is an engineering and consulting firm with projects in energy, industrial, and infrastructure markets. It develops solutions for public and private clients and can serve all regions of the world. The business divisions are Industrial & Digital Solutions, Infrastructure, Process Industries, Energy, and Management Consulting. It constructs plants and provides market analysis for power generation, manufacturing facilities, and refining chemicals. It also offers engineering, design, and advisory services across three main sectors: infrastructure, industry, and energy. It generates the majority of its revenue from the Infrastructure segment.


Founded

1895

HQ

Sweden
Employees

18.2K+

Website

afry.com

Financials

LTM Revenue $2.7B

LTM EBITDA $288M

EV

$2.6B

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Afry Financials

Afry has a last 12-month revenue of $2.7B and a last 12-month EBITDA of $288M.

In the most recent fiscal year, Afry achieved revenue of $2.7B and an EBITDA of $290M.

Afry expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Afry P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $2.7B $2.7B XXX XXX XXX
Gross Profit $1.9B $2.1B XXX XXX XXX
Gross Margin 69% 79% XXX XXX XXX
EBITDA $275M $290M XXX XXX XXX
EBITDA Margin 10% 11% XXX XXX XXX
Net Profit $96.7M $109M XXX XXX XXX
Net Margin 4% 4% XXX XXX XXX
Net Debt $448M $468M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Afry Stock Performance

As of April 15, 2025, Afry's stock price is SEK 182 (or $18).

Afry has current market cap of SEK 20.6B (or $2.0B), and EV of SEK 26.6B (or $2.6B).

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Afry Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$2.6B $2.0B XXX XXX XXX XXX $1.20

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Afry Valuation Multiples

As of April 15, 2025, Afry has market cap of $2.0B and EV of $2.6B.

Afry's trades at 1.0x LTM EV/Revenue multiple, and 9.2x LTM EBITDA.

Analysts estimate Afry's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Afry Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $2.6B XXX XXX XXX
EV/Revenue 1.0x XXX XXX XXX
EV/EBITDA 9.1x XXX XXX XXX
P/E 16.7x XXX XXX XXX
P/E/Growth 0.8x XXX XXX XXX
EV/FCF 14.3x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Afry Valuation Multiples

Afry's NTM/LTM revenue growth is 4%

Afry's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Afry's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Afry's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Afry Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 1% XXX XXX XXX XXX
EBITDA Margin 11% XXX XXX XXX XXX
EBITDA Growth 5% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 14% XXX XXX XXX XXX
Revenue per Employee $0.1M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 72% XXX XXX XXX XXX

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Afry Public Comps

See public comps and valuation multiples for Construction & Engineering comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
NMDC Energy XXX XXX XXX XXX XXX XXX
Arcadis XXX XXX XXX XXX XXX XXX
Koninklijke Bam Groep XXX XXX XXX XXX XXX XXX
Ferrovial XXX XXX XXX XXX XXX XXX
Royal Heijmans XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Afry M&A and Investment Activity

Afry acquired  XXX companies to date.

Last acquisition by Afry was  XXXXXXXX, XXXXX XXXXX XXXXXX . Afry acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Afry

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Afry

When was Afry founded? Afry was founded in 1895.
Where is Afry headquartered? Afry is headquartered in Sweden.
How many employees does Afry have? As of today, Afry has 18.2K+ employees.
Who is the CEO of Afry? Afry's CEO is Ms. Linda Palsson.
Is Afry publicy listed? Yes, Afry is a public company listed on STO.
What is the stock symbol of Afry? Afry trades under AFRY ticker.
When did Afry go public? Afry went public in 1986.
Who are competitors of Afry? Similar companies to Afry include e.g. NMDC Energy, Arcadis, Koninklijke Bam Groep, Ferrovial.
What is the current market cap of Afry? Afry's current market cap is $2.0B
What is the current revenue of Afry? Afry's last 12-month revenue is $2.7B.
What is the current EBITDA of Afry? Afry's last 12-month EBITDA is $288M.
What is the current EV/Revenue multiple of Afry? Current revenue multiple of Afry is 1.0x.
What is the current EV/EBITDA multiple of Afry? Current EBITDA multiple of Afry is 9.2x.
What is the current revenue growth of Afry? Afry revenue growth between 2023 and 2024 was 1%.
Is Afry profitable? Yes, Afry is EBITDA-positive (as of the last 12 months).

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