Volvo Car AB (publ.)

OM:VOLCAR B Stock Report

Market Cap: SEK 60.0b

Volvo Car AB (publ.) Future Growth

Future criteria checks 3/6

Volvo Car AB (publ.) is forecast to grow earnings and revenue by 13.1% and 4.2% per annum respectively. EPS is expected to grow by 21.1% per annum. Return on equity is forecast to be 6.4% in 3 years.

Key information

13.1%

Earnings growth rate

21.14%

EPS growth rate

Auto earnings growth19.7%
Revenue growth rate4.2%
Future return on equity6.40%
Analyst coverage

Good

Last updated27 Jul 2026

Recent future growth updates

Analysis Article • Jul 22

Volvo Car AB (publ.) Just Beat EPS By 83%: Here's What Analysts Think Will Happen Next

Shareholders might have noticed that Volvo Car AB (publ.) ( STO:VOLCAR B ) filed its interim result this time last...
Analysis Article • May 03

Volvo Car AB (publ.) Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

As you might know, Volvo Car AB (publ.) ( STO:VOLCAR B ) recently reported its first-quarter numbers. It looks like a...

Recent updates

Narrative Update • Jul 23

VOLCAR B: Ghent Plant Support Package Will Drive Future Upside Potential

Analysts have trimmed their 12 month price target for Volvo Car AB (publ.) from SEK 25.0 to SEK 23.7. This reflects updated assumptions around slightly higher modelled revenue growth, a modestly lower profit margin and a small adjustment to the future P/E multiple and discount rate. What’s in the News for Volvo Car AB (publ.) Volvo Cars reported Q2 2026 operating income of SEK 0.8 billion with an EBIT margin of 1.1%, in a global market described as very challenging, source: company results coverage.
Analysis Article • Jul 22

Volvo Car AB (publ.) Just Beat EPS By 83%: Here's What Analysts Think Will Happen Next

Shareholders might have noticed that Volvo Car AB (publ.) ( STO:VOLCAR B ) filed its interim result this time last...
Narrative Update • Jul 09

VOLCAR B: Recent Downgrade And Margin Pressure Will Shape Balanced Outlook

Analysts have trimmed their price target for Volvo Car AB (publ.) from SEK 22.95 to SEK 20.61, citing a slightly higher discount rate, modestly adjusted profit margin expectations, and a more cautious stance reflected in recent downgrades, such as SEB Equities becoming more bearish on the stock. What's in the News for Volvo Car AB (publ.) Volvo Car AB (publ.) hosted an Analyst/Investor Day on 2026-06-05, giving the market an updated look at management’s priorities and outlook for the business.
Narrative Update • Jun 25

VOLCAR B: Manufacturing Expansion And New Partnerships Will Support Future Upside Potential

Analysts have kept their SEK fair value estimate for Volvo Car AB (publ.) steady at SEK 25.0, while a recent downgrade from SEB Equities signals a more cautious stance that reflects updated assumptions on discount rates, profit margins and future P/E expectations. What’s in the News for Volvo Car AB (publ.) Volvo Cars and Polestar plan to consolidate production of the Polestar 3 at Volvo Cars' US plant in Ridgeville, South Carolina, in addition to existing production in Chengdu, China.
Narrative Update • Jun 11

VOLCAR B: U.S. Tech Approval And EV Mix Will Still Cap Upside

Analysts have trimmed their price targets on Volvo Car AB (publ.) to SEK 17.00, citing more cautious views reflected in a slightly lower discount rate, softer revenue growth assumptions, a modestly higher profit margin outlook, and a marginally higher future P/E multiple. What's in the News Volvo Cars received a specific authorization from the U.S. Department of Commerce under the Securing the Information and Communications Technology and Services Supply Chain: Connected Vehicles rule, allowing continued imports and sales in the U.S. of vehicles using connected car technology developed by majority-owned parent Geely.
Narrative Update • May 28

VOLCAR B: Updated Assumptions And Execution Outlook Will Support Balanced Future Prospects

Analysts kept the SEK 25.0 price target for Volvo Car AB (publ.) unchanged, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that together support a steady valuation view despite a recent downgrade in Street research sentiment. Analyst Commentary Recent Street research includes at least one downgrade, yet many readers are still looking for what the more optimistic voices see in Volvo Car AB (publ.) at the SEK 25.0 target level.
Narrative Update • May 10

VOLCAR B: Reset Expectations And Cost Discipline Will Support Future Upside Potential

Analysts have reduced their fair value estimate for Volvo Car AB (publ.) shares from SEK 29.00 to SEK 25.00, citing recent downgrades and more cautious assumptions on growth, margins and future P/E multiples. Analyst Commentary While recent research has tilted more cautious, some elements of the Street debate still highlight potential upside if Volvo Car AB (publ.) executes well against its current plans and market positioning.
Analysis Article • May 06

There May Be Reason For Hope In Volvo Car AB (publ.)'s (STO:VOLCAR B) Disappointing Earnings

Volvo Car AB (publ.)'s ( STO:VOLCAR B ) earnings announcement last week didn't impress shareholders. However, our...
Analysis Article • May 03

Volvo Car AB (publ.) Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

As you might know, Volvo Car AB (publ.) ( STO:VOLCAR B ) recently reported its first-quarter numbers. It looks like a...
Narrative Update • Apr 24

VOLCAR B: Cooler Sentiment And Execution Risks Will Limit Post Downgrade Upside

Analysts have trimmed their price target on Volvo Car AB (publ.) by SEK 1, citing more cautious views on revenue momentum and a slightly higher required return, even as margin expectations and assumed future P/E remain relatively stable. Analyst Commentary Recent Street research has tilted more cautious on Volvo Car AB (publ.), with several bearish analysts revisiting both ratings and price targets.
Narrative Update • Apr 07

VOLCAR B: Steady Earnings Framework Will Support Returns Despite Lower P E Assumptions

Analysts have reduced the implied fair value for Volvo Car AB (publ.) from SEK 33.88 to SEK 29.00, reflecting recent price target cuts and a more cautious stance on the stock's P/E multiple, despite relatively steady assumptions for growth and margins. Analyst Commentary Recent Street research has skewed cautious on Volvo Car AB (publ.), with several firms trimming price targets and at least one initiating coverage with a Sell rating and a SEK 25 price target, citing reliance on one off factors to support sentiment.
Narrative Update • Mar 24

VOLCAR B: Electrification Execution Will Support Returns Despite Recent Rating Downgrades

Narrative Update Analysts have trimmed the indicative fair value for Volvo Car AB (publ.) from SEK 37.00 to about SEK 33.88. This reflects recent target cuts and more cautious views on margins and valuation multiples following downgrades and Sell recommendations from several firms.
Narrative Update • Mar 10

VOLCAR B: One Off Driven Rally And Margin Pressures Will Shape Balanced Outlook

The updated analyst price target for Volvo Car AB (publ.) has been reduced from about SEK 28.31 to around SEK 22.95. Analysts cite less optimistic fair value assumptions, a higher discount rate and softer margin expectations, along with recent target reductions and a downgrade in Street research.
Narrative Update • Feb 23

VOLCAR B: One Off Support Will Struggle To Sustain Post Downgrade Rally

Analysts have trimmed their average price target on Volvo Car AB (publ.) by SEK 8 to SEK 25, citing less supportive one off factors, slightly softer revenue assumptions and a modestly lower future P/E multiple, while keeping fair value estimates broadly unchanged. Analyst Commentary Recent research updates point to a more cautious tone around Volvo Car AB (publ.), with several bearish analysts resetting expectations through lower price targets and a downgrade, even as headline fair value estimates remain broadly steady.
Narrative Update • Feb 09

VOLCAR B: One Off Driven Rally Will Face Tougher Earnings Sustainability Test

Analysts have reduced their fair value estimate for Volvo Car AB (publ.) from SEK 19.00 to SEK 17.00. This change reflects recent cuts to Street price targets and more cautious assumptions on revenue growth, profit margins and the appropriate P/E multiple.
Analysis Article • Feb 02

Getting In Cheap On Volvo Car AB (publ.) (STO:VOLCAR B) Is Unlikely

With a median price-to-sales (or "P/S") ratio of close to 0.4x in the Auto industry in Sweden, you could be forgiven...
Narrative Update • Jan 26

VOLCAR B: One Off Driven Rally And Margin Assumptions Will Shape Balanced Outlook

Analysts have made a small upward adjustment to their fair value estimate for Volvo Car AB (publ.) to SEK 28.31 from SEK 28.27, reflecting slightly higher profit margin assumptions, a lower discount rate, and recent Street research that includes a Sell initiation with a SEK 25 target and a view that recent share strength has been driven by one offs. Analyst Commentary Analysts are split on how much of the recent share strength in Volvo Car AB (publ.) is supported by fundamentals versus shorter term factors, and that split is showing up directly in fair value work and rating decisions.
Narrative Update • Jan 11

VOLCAR B: Recent One Off Driven Rally Will Face Sentiment Reckoning

The analyst fair value estimate for Volvo Car AB has shifted from SEK 14.0 to SEK 19.0, reflecting updated assumptions on revenue growth, profit margins and future P/E, alongside mixed Street views that include a higher SEK 26 target with a Hold rating and a new Sell initiation that highlights recent one offs in sentiment. Analyst Commentary Recent Street research shows a split view on Volvo Car AB, with some bearish analysts questioning how sustainable current expectations are.
Analysis Article • Jan 06

The Returns At Volvo Car AB (publ.) (STO:VOLCAR B) Aren't Growing

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Narrative Update • Dec 27

VOLCAR B: Future EV Margin Pressures Will Temper Moderately Improved Earnings Outlook

Analysts have nudged their price target on Volvo Car AB (publ.) higher to approximately SEK 28.27 from about SEK 26.82, citing a somewhat richer future earnings multiple that offsets softer assumptions for revenue growth and profit margins. Analyst Commentary Bullish analysts interpret the higher price target as a signal that the market is becoming more comfortable with Volvo Car AB's earnings trajectory, even if top line expectations remain conservative.
Narrative Update • Dec 13

VOLCAR B Will Benefit From Rising Confidence In Electrification Execution

Analysts have lifted their price target for Volvo Car AB (publ.) from SEK 20.10 to SEK 37.00, citing a lower discount rate, slightly stronger expected revenue growth, improving profit margins, and a higher anticipated future P E multiple, in line with recent upward revisions in Street targets. Analyst Commentary Bullish analysts highlight that the latest target price increases reflect growing confidence in Volvo Car AB (publ.)'s ability to execute on its strategic roadmap, particularly around electrification, cost efficiency, and brand positioning in key markets.
Analysis Article • Dec 06

At kr34.27, Is It Time To Put Volvo Car AB (publ.) (STO:VOLCAR B) On Your Watch List?

Let's talk about the popular Volvo Car AB (publ.) ( STO:VOLCAR B ). The company's shares saw a significant share price...
Narrative Update • Nov 28

VOLCAR B: Margin Pressures From Electric Competition Will Weigh On Shares Ahead

Analysts have raised their price target for Volvo Car AB (publ.) from SEK 26.49 to SEK 26.82. They cite improved projected revenue growth, profit margins, and a stronger future price-to-earnings outlook as key factors behind this modest upward revision.
Narrative Update • Nov 14

VOLCAR B: Competitive Pressures And Macroeconomic Risks Will Continue To Weigh On Shares

The analyst price target for Volvo Car AB (publ.) has been raised significantly from SEK 23.63 to SEK 26.49. Analysts cite updated fair value estimates and a more favorable financial outlook as key factors behind the adjustment.
Narrative Update • Oct 30

VOLCAR B: Execution Risks Will Limit Upside As Competitive Pressures Persist

Analysts have raised their price target for Volvo Car AB (publ.) significantly, increasing it from SEK 18.14 to SEK 23.63. They cite improved revenue growth forecasts and stronger profit margin expectations as key drivers of the upgrade.
Analysis Article • Oct 28

Volvo Car AB (publ.) Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Volvo Car AB (publ.) ( STO:VOLCAR B ) investors will be delighted, with the company turning in some strong numbers with...
Narrative Update • Oct 16

EV Manufacturing Overhauls Will Offset Tariff And Supply Risks

Analysts have modestly raised their price target for Volvo Car AB (publ.), increasing the fair value estimate from $17.76 to $18.14 per share. This change reflects slight adjustments to key valuation inputs including discount rate and growth outlook.
Analysis Article • Aug 28

Volvo Car AB (publ.) (STO:VOLCAR B) Will Want To Turn Around Its Return Trends

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...
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New Narrative • Jul 27

EV Manufacturing Overhauls Will Offset Tariff And Supply Risks

Intense EV competition, regulatory uncertainty, and trade barriers are pressuring margins, revenue growth, and cash flow.

Earnings and Revenue Growth Forecasts

OM:VOLCAR B - Analysts future estimates and past financials data (SEK Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028367,10112,3856,30741,58212
12/31/2027354,4589,2573,54238,50112
12/31/2026336,1696,198-69331,16612
6/30/2026331,1129,348-15,61419,112N/A
3/31/2026346,931580-3,56734,059N/A
12/31/2025357,263174-5,45234,625N/A
9/30/2025374,9981,3901,19945,045N/A
6/30/2025381,3424037,45351,512N/A
3/31/2025389,30413,2632,01946,292N/A
12/31/2024400,23415,4012,33947,372N/A
9/30/2024397,55616,007-2,20139,194N/A
6/30/2024396,81814,80016140,106N/A
3/31/2024397,51612,7845,94144,310N/A
12/31/2023399,34313,0533,70242,867N/A
9/30/2023395,14912,40042241,794N/A
6/30/2023382,4339,7324,49245,070N/A
3/31/2023351,58115,335-1,26735,458N/A
12/31/2022330,14515,5771,48733,599N/A
9/30/2022304,97414,97018,25645,937N/A
6/30/2022286,48316,7924,88830,651N/A
3/31/2022287,72110,3283,73929,801N/A
12/31/2021282,04512,1866,52829,852N/A
9/30/2021287,28015,1301,59022,649N/A
6/30/2021292,20515,69020,03640,091N/A
3/31/2021275,54712,31913,78131,834N/A
12/31/2020262,8335,70815,72534,285N/A
9/30/2020256,7174,19710,94931,622N/A
6/30/2020255,7813,1491,46621,538N/A
3/31/2020267,0874,788N/A29,380N/A
12/31/2019274,1177,115N/A32,374N/A
9/30/2019267,9475,991N/A28,911N/A
6/30/2019259,8964,764N/A22,736N/A
3/31/2019258,7506,061N/A26,643N/A
12/31/2018252,6536,840N/A26,765N/A
9/30/2018240,5876,997N/A25,409N/A
6/30/2018232,0828,394N/A26,269N/A
3/31/2018218,0867,788N/A24,407N/A
12/31/2017208,6467,960N/A24,933N/A
9/30/2017203,0707,465N/A25,539N/A
6/30/2017196,0726,649N/A32,304N/A
3/31/2017186,2486,364N/A26,739N/A
12/31/2016180,9025,944N/A26,861N/A
9/30/2016178,1656,787N/A24,735N/A
6/30/2016173,0746,060N/A19,444N/A
3/31/2016172,4195,501N/A23,181N/A
12/31/2015164,0433,130N/A22,576N/A
9/30/2015146,701524N/A13,300N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: VOLCAR B's forecast earnings growth (13.1% per year) is above the savings rate (2%).

Earnings vs Market: VOLCAR B's earnings (13.1% per year) are forecast to grow faster than the Swedish market (7.1% per year).

High Growth Earnings: VOLCAR B's earnings are forecast to grow, but not significantly.

Revenue vs Market: VOLCAR B's revenue (4.2% per year) is forecast to grow faster than the Swedish market (-1.3% per year).

High Growth Revenue: VOLCAR B's revenue (4.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: VOLCAR B's Return on Equity is forecast to be low in 3 years time (6.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/30 23:12
End of Day Share Price 2026/07/30 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Volvo Car AB (publ.) is covered by 18 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harry MartinBernstein
Samuel PerryBNP Paribas
Lena OsterbergCarnegie Investment Bank AB