NCC Past Earnings Performance
Past criteria checks 0/6
NCC's earnings have been declining at an average annual rate of -12.6%, while the Construction industry saw earnings declining at 8.7% annually. Revenues have been growing at an average rate of 2% per year. NCC's return on equity is 1.1%, and it has net margins of 0.1%.
Key information
-12.55%
Earnings growth rate
-10.35%
EPS growth rate
| Construction Industry Growth | 31.96% |
| Revenue growth rate | 1.97% |
| Return on equity | 1.08% |
| Net Margin | 0.14% |
| Next Earnings Update | 03 Nov 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jul 15
NCC B: Extra Dividend And New Nordic Projects Will Support Upside
The analyst price target for NCC has been adjusted from SEK 220 to SEK 202.5 as analysts incorporate updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E in their valuation work. What’s in the News for NCC NCC has been commissioned by Vestland County Council to build the Atløy Link in Norway, a turnkey infrastructure project including three bridges and associated roads.Narrative Update • Jun 23
NCC B: Extra Dividend Will Reward Shareholders As Order Book Expands
Analysts have kept their SEK 220.0 price target for NCC essentially unchanged, with only minor adjustments to assumptions such as the discount rate, revenue growth, profit margin and future P/E. This reflects a steady view on the stock rather than a material shift in outlook.Analysis Article • Jun 20
NCC (OM:NCC B) Stock Could Be 11.5% Undervalued After New Contract Wins
Why NCC stock is back on investors’ radar NCC (OM:NCC B) has drawn fresh attention after announcing several sizeable contracts, including a roughly SEK 900 million agreement with LKAB, new infrastructure work at Stora Sköndal in Stockholm, and an industrial modernization project in Finland. See our latest analysis for NCC. Those new contracts have arrived after a mixed period for NCC, with the share price down 11.66% year to date and 5.21% over 90 days, but a 3 year total shareholder return...Narrative Update • Jun 05
NCC B: Extra Dividend And Nordic Project Wins Will Support Upside
Analysts have kept the NCC price target steady at SEK220, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E as the main drivers of the unchanged view. What's in the News NCC has been contracted by Sydvatten AB to build a fully equipped pumping station with backup power at the Ringsjöverket waterworks in Skåne, Sweden.Narrative Update • May 18
NCC B: Extra Dividend And New Nordic Contracts Will Support Upside Potential
Analysts have adjusted their price target for NCC to SEK220.00 from SEK223.33, reflecting updated assumptions around revenue growth, profit margins, the discount rate, and a lower expected future P/E multiple. What's in the News NCC signed 12 one year asphalt contracts in Norway with the Norwegian Public Roads Administration and several counties, with a combined order value of about SEK 680 million, all including a 30% CO2 weighting requirement in procurement (Client Announcements).Analysis Article • May 02
Revenue Miss: NCC AB (publ) Fell 11% Short Of Analyst Revenue Estimates And Analysts Have Been Revising Their Models
Shareholders might have noticed that NCC AB (publ) ( STO:NCC B ) filed its quarterly result this time last week. The...Narrative Update • Apr 29
NCC B: Extra Dividend And Order Pipeline Will Support Steady Outlook
Analysts have lifted their price target on NCC to about SEK 223 from roughly SEK 220, citing updated fair value work that reflects small tweaks to the discount rate, profit margin assumptions, and expected future P/E level. What's in the News Framework agreement with Lund Municipality and Lunds Kommuns Fastighets AB for asphalt paving over up to four years, capped at about SEK 200 million, using lower temperature, biofuel based, high RAP asphalt from NCC's fossil fuel free Södra Sandby plant (Client announcement).Narrative Update • Apr 11
NCC B: Extra Dividend And Infrastructure Orders Will Support Balanced Outlook
Analysts have kept their NCC price target broadly steady at SEK220, with only marginal adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions supporting the unchanged valuation view. What's in the News NCC has been contracted by Gästrike Vatten to build the new Mon waterworks in Skutskär, Sweden, a SEK 650 million project that includes advanced treatment technology and is scheduled to be commissioned in 2028.Narrative Update • Mar 27
NCC B: Extra Dividend And Solid Order Book Will Support Balanced Outlook
Analysts have made a small upward adjustment to NCC's target price to SEK 220, reflecting updated assumptions around the discount rate and long-term P/E, without changing the underlying fair value estimate. What's in the News NCC and Norrvatten signed an agreement for the first two stages of a new waterworks in Järfälla.Narrative Update • Mar 11
NCC B: Extra Dividend And New Contracts Will Support Balanced Outlook
Analysts have kept their SEK 220 price target for NCC unchanged, pointing to only marginal tweaks in the discount rate, revenue growth, profit margin and future P/E assumptions, rather than any shift in their core view. What's in the News NCC has been commissioned by the Swedish Transport Administration to upgrade the E4 expressway between Hornefors and Stocksjo.Narrative Update • Feb 25
NCC B: Extra Dividend And New Projects Will Support Steady Outlook
Analysts have kept their NCC price target unchanged at SEK 220, with only minor tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions behind the refreshed model. What's in the News NCC's Board has proposed an extra dividend of SEK 2.00 per share for 2025, with a record date of May 7, 2026, and payment on May 12, 2026 (Key Developments).Analysis Article • Feb 12
Some May Be Optimistic About NCC's (STO:NCC B) Earnings
The market for NCC AB (publ)'s ( STO:NCC B ) shares didn't move much after it posted weak earnings recently. We think...Narrative Update • Feb 11
NCC B: New Projects And Dividends Will Support A Steady Outlook
Analysts have maintained their fair value estimate for NCC at $220.00, incorporating updated assumptions for the discount rate, revenue growth, profit margin, and future P/E into a slightly refined price target narrative. What's in the News The board has proposed a regular dividend of SEK 9.00 per share for 2025, plus an extra dividend of SEK 2.00 per share.Analysis Article • Feb 08
NCC (STO:NCC B) Has Announced A Dividend Of SEK6.50
NCC AB (publ)'s ( STO:NCC B ) investors are due to receive a payment of SEK6.50 per share on 12th of May. This means...Narrative Update • Jan 25
NCC B: New Nordic Contracts And Q4 2025 Guidance Will Support Steady Outlook
Analysts have trimmed their price target for NCC from $227.50 to $220.00, reflecting slightly more cautious assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News NCC issued earnings guidance for Q4 2025, with expected net sales of SEK 15,929 million and operating profit (EBIT) of SEK 692 million, excluding items affecting comparability (Corporate guidance).Analysis Article • Jan 21
Is Now The Time To Put NCC (STO:NCC B) On Your Watchlist?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Jan 11
NCC B: New Nordic Contracts And CFO Transition Will Support Steady Outlook
Analysts have slightly reduced their price target on NCC to reflect updated assumptions for the discount rate, revenue growth, profit margin and future P/E, while keeping fair value broadly in line at $227.50. What's in the News NCC has been commissioned by Surahammar Municipality to construct a new school using existing construction documents from a previous project in Norrkoping, through a turnkey contract valued at approximately SEK 175 million (Client announcement).Narrative Update • Dec 16
NCC B: Upcoming Projects And CFO Transition Will Support Steady Outlook
Analysts have slightly adjusted their price target for NCC to align with refined assumptions around discount rates, long term revenue growth, profit margins, and future valuation multiples. This has resulted in a modestly higher implied equity value of approximately $227.50 per share.Narrative Update • Dec 02
NCC B: Project Momentum and Solid Metrics Will Sustain Steady Market Expectations
Analysts have maintained the price target for NCC at $227.50, citing steady financial projections and minimal adjustments in key valuation factors such as the discount rate and profit margin. What's in the News NCC has secured a SEK 1.5 billion contract to renovate and improve accessibility in a central Stockholm city block.Narrative Update • Nov 18
NCC B: Project Pipeline and Stable Metrics Will Support Steady Performance
Analysts have slightly raised their price target for NCC to $227.50. They cite minor shifts in discount rate and future earnings expectations while maintaining previous assessments of fair value and growth.Analysis Article • Nov 14
Returns At NCC (STO:NCC B) Appear To Be Weighed Down
What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...Narrative Update • Nov 03
NCC B Will Pursue Major Infrastructure Projects And Margin Expansion This Cycle
Analysts have raised their fair value estimate for NCC from $220 to $227.50, crediting higher projected revenue growth and improved profit margins as factors supporting this updated price target. What's in the News NCC and Envidan have secured a SEK 630 million contract to modernize and expand Viborg's central wastewater treatment plant in Denmark, including new purification technology for pharmaceutical residues (Client Announcements).Narrative Update • Oct 20
M&A Readiness And Cleantech Advancements Will Expand Future Horizons
Analysts have raised their price target for NCC from $200 to $220. They cite higher expected revenue growth and improved profit margins in their updated projections.Analysis Article • Oct 19
NCC (STO:NCC B) Is Due To Pay A Dividend Of SEK4.50
NCC AB (publ)'s ( STO:NCC B ) investors are due to receive a payment of SEK4.50 per share on 12th of November. This...Analysis Article • Sep 22
Does NCC (STO:NCC B) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Sep 10
NCC's (STO:NCC B) Dividend Will Be SEK4.50
The board of NCC AB (publ) ( STO:NCC B ) has announced that it will pay a dividend on the 12th of November, with...Analysis Article • Sep 09
Why Investors Shouldn't Be Surprised By NCC AB (publ)'s (STO:NCC B) Low P/E
NCC AB (publ)'s ( STO:NCC B ) price-to-earnings (or "P/E") ratio of 13x might make it look like a buy right now...Analysis Article • Jul 30
What Does NCC AB (publ)'s (STO:NCC B) Share Price Indicate?
NCC AB (publ) ( STO:NCC B ), is not the largest company out there, but it saw a decent share price growth of 12% on the...Analysis Article • Jul 18
NCC AB (publ) Just Missed Earnings And Its Revenue Numbers Were Weaker Than Expected
NCC AB (publ) ( STO:NCC B ) came out with its quarterly results last week, and we wanted to see how the business is...Analysis Article • Jul 02
Is NCC AB (publ) (STO:NCC B) Trading At A 32% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, NCC fair value estimate is kr259 NCC's kr176 share price...Analysis Article • Jul 02
NCC (STO:NCC B) Is Due To Pay A Dividend Of SEK4.50
NCC AB (publ) ( STO:NCC B ) will pay a dividend of SEK4.50 on the 12th of November. This makes the dividend yield 5.1...Analysis Article • May 16
NCC (STO:NCC B) Will Pay A Dividend Of SEK4.50
NCC AB (publ) ( STO:NCC B ) has announced that it will pay a dividend of SEK4.50 per share on the 12th of November...Analysis Article • May 08
We Think NCC's (STO:NCC B) Robust Earnings Are Conservative
The subdued stock price reaction suggests that NCC AB (publ)'s ( STO:NCC B ) strong earnings didn't offer any...Analysis Article • Apr 18
NCC AB (publ) (STO:NCC B) Just Released Its Annual Earnings: Here's What Analysts Think
NCC AB (publ) ( STO:NCC B ) defied analyst predictions to release its annual results, which were ahead of market...Analysis Article • Feb 27
NCC (STO:NCC B) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
New Narrative • Feb 09
Positive Market Outlook Will Drive Future Performance In Infrastructure And Industry Segments
Positive market outlook in key segments could drive revenue growth and improve earnings through operational efficiencies and higher margins.Analysis Article • Jan 21
There Is A Reason NCC AB (publ)'s (STO:NCC B) Price Is Undemanding
NCC AB (publ)'s ( STO:NCC B ) price-to-earnings (or "P/E") ratio of 12.8x might make it look like a buy right now...Analysis Article • Jan 08
Is Now The Time To Look At Buying NCC AB (publ) (STO:NCC B)?
NCC AB (publ) ( STO:NCC B ), is not the largest company out there, but it saw its share price hover around a small...Analysis Article • Nov 02
NCC's (STO:NCC B) Problems Go Beyond Weak Profit
NCC AB (publ)'s ( STO:NCC B ) recent weak earnings report didn't cause a big stock movement. Our analysis suggests that...Analysis Article • Oct 21
NCC (STO:NCC B) Will Pay A Dividend Of SEK4.00
NCC AB (publ) ( STO:NCC B ) has announced that it will pay a dividend of SEK4.00 per share on the 12th of November...Analysis Article • Oct 07
NCC's (STO:NCC B) Dividend Will Be SEK4.00
NCC AB (publ)'s ( STO:NCC B ) investors are due to receive a payment of SEK4.00 per share on 12th of November. This...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How NCC makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 53,967 | 78 | 3,566 | 0 |
| 31 Mar 26 | 54,290 | 92 | 3,513 | 0 |
| 31 Dec 25 | 55,717 | 142 | 3,494 | 0 |
| 30 Sep 25 | 60,110 | 1,585 | 3,331 | 0 |
| 30 Jun 25 | 60,221 | 1,523 | 3,274 | 0 |
| 31 Mar 25 | 61,125 | 1,528 | 3,239 | 0 |
| 31 Dec 24 | 61,609 | 1,571 | 3,223 | 0 |
| 30 Sep 24 | 56,878 | 1,243 | 3,208 | 0 |
| 30 Jun 24 | 56,622 | 1,392 | 3,235 | 0 |
| 31 Mar 24 | 56,029 | 1,327 | 3,201 | 0 |
| 31 Dec 23 | 56,932 | 1,573 | 3,156 | 0 |
| 30 Sep 23 | 57,359 | 1,589 | 3,104 | 0 |
| 30 Jun 23 | 57,404 | 1,393 | 2,982 | 0 |
| 31 Mar 23 | 56,551 | 1,369 | 2,977 | 0 |
| 31 Dec 22 | 54,198 | 1,069 | 2,981 | 0 |
| 30 Sep 22 | 54,178 | 1,198 | 2,840 | 0 |
| 30 Jun 22 | 54,642 | 1,479 | 2,896 | 0 |
| 31 Mar 22 | 53,385 | 1,485 | 2,834 | 0 |
| 31 Dec 21 | 53,414 | 1,508 | 2,808 | 0 |
| 30 Sep 21 | 52,321 | 1,391 | 2,970 | 0 |
| 30 Jun 21 | 50,610 | 1,173 | 2,960 | 0 |
| 31 Mar 21 | 52,296 | 1,219 | 2,968 | 0 |
| 31 Dec 20 | 53,922 | 1,259 | 2,967 | 0 |
| 30 Sep 20 | 57,256 | 1,261 | 2,898 | 0 |
| 30 Jun 20 | 58,387 | 1,228 | 2,854 | 0 |
| 31 Mar 20 | 58,566 | 1,101 | 2,843 | 0 |
| 31 Dec 19 | 58,234 | 873 | 2,811 | 0 |
| 30 Sep 19 | 57,828 | 610 | 2,781 | 0 |
| 30 Jun 19 | 58,146 | -803 | 2,883 | 0 |
| 31 Mar 19 | 57,886 | -774 | 2,865 | 0 |
| 31 Dec 18 | 57,346 | -756 | 2,875 | 0 |
| 30 Sep 18 | 55,786 | -920 | 2,992 | 0 |
| 30 Jun 18 | 54,592 | 319 | 2,881 | 0 |
| 31 Mar 18 | 53,587 | 383 | 2,920 | 0 |
| 31 Dec 17 | 54,441 | 872 | 2,933 | 0 |
| 30 Sep 17 | 54,687 | 1,410 | 2,807 | 0 |
| 30 Jun 17 | 55,184 | 1,511 | 2,799 | 0 |
| 31 Mar 17 | 55,485 | 1,545 | 2,886 | 0 |
| 31 Dec 16 | 52,934 | 1,113 | 2,879 | 0 |
| 30 Sep 16 | 52,683 | 1,094 | 2,879 | 0 |
| 30 Jun 16 | 52,431 | 1,283 | 2,894 | 0 |
| 31 Mar 16 | 52,002 | 1,271 | 2,761 | 0 |
| 31 Dec 15 | 53,116 | 1,315 | 2,721 | 0 |
| 30 Sep 15 | 55,609 | 1,678 | 2,841 | 0 |
Quality Earnings: NCC B has a large one-off loss of SEK1.2B impacting its last 12 months of financial results to 30th June, 2026.
Growing Profit Margin: NCC B's current net profit margins (0.1%) are lower than last year (2.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: NCC B's earnings have declined by 12.6% per year over the past 5 years.
Accelerating Growth: NCC B's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: NCC B had negative earnings growth (-94.9%) over the past year, making it difficult to compare to the Construction industry average (33.7%).
Return on Equity
High ROE: NCC B's Return on Equity (1.1%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/31 03:32 |
| End of Day Share Price | 2026/07/31 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
NCC AB (publ) is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Kristofer Liljeberg-Svensson | Carnegie Investment Bank AB |
| Stefan Erik Andersson | Danske Bank |