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Atlas Copco AB Class A ATCO A

Morningstar Rating
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Stock XSTO Rating as of
SEK 194.85 +0.95 (0.49%)
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Company Report

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Atlas Copco Earnings: Robust Order Backlog to Support Earnings in 2024 Despite Softened Order Intake

Grant Slade

While market conditions in early 2024 proved mixed for Atlas Copco, the wide-moat capital goods supplier delivered a solid first-quarter result, featuring buoyant top-line and EBIT growth that tracked ahead of our prior full-year forecasts. Organic order intake fell 4% year on year, declining from an exceptional level achieved in the prior comparative period. While demand for air compressor equipment held in, demand for vacuum pump equipment and power tools were particularly weak, driving organic order intake declines for the vacuum technique and power technique segments of 4% and 17%, respectively.

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Price vs Fair Value

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ATCO A is trading at a 23% premium.
Price
SEK 177.95
Fair Value
SEK 792.00
Uncertainty
Medium
1-Star Price
SEK 522.78
5-Star Price
SEK 442.60
Economic Moat
Ksth
Capital Allocation
Gldxvvhmnt

Bulls Say, Bears Say

Bulls

Atlas Copco’s reputation is synonymous with innovative and high-quality products in air compressor, vacuum pump, and industrial power tool markets, delivering pricing power and wide profit margins.

Bears

Near-term order intake is likely to suffer as a weakened economic outlook reins in capital expenditure plans for Atlas Copco’s industrial and manufacturing customers.

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Trading Information

Previous Close Price
SEK 193.90
Day Range
SEK 194.25–196.35
52-Week Range
SEK 127.40–196.35
Bid/Ask
SEK 194.60 / SEK 194.75
Market Cap
SEK 949.72 Bil
Volume/Avg
920,339 / 4.5 Mil

Key Statistics

Price/Earnings (Normalized)
31.81
Price/Sales
5.39
Dividend Yield (Trailing)
1.35%
Dividend Yield (Forward)
1.48%
Total Yield
1.32%

Company Profile

Atlas Copco is a 140-year-old Swedish company that pioneered air compression technology and remains a leading air compressor manufacturer. Atlas Copco is also a leading manufacturer of vacuum pump equipment, industrial power tools, and portable power and air compression equipment. The company's operations match the geographic breadth of its customers, with a presence in 180 countries. Atlas Copco's revenue is derived from three sources: initial equipment sales, spare parts, and maintenance.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Large Growth
Total Number of Employees
53,728
Website
https://www.atlascopcogroup.com

Competitors

Valuation

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Metric
ATCO A
ALFA
IR
Price/Earnings (Normalized)
 31.8125.7432.69
Price/Book Value
 9.044.903.81
Price/Sales
 5.393.005.50
Price/Cash Flow
 27.4421.4929.86
Price/Earnings
ATCO A
ALFA
IR

Financial Strength

Metric
ATCO A
ALFA
IR
Quick Ratio
 1.020.851.55
Current Ratio
 1.591.362.22
Interest Coverage
 40.4419.117.58
Quick Ratio
ATCO A
ALFA
IR

Profitability

Metric
ATCO A
ALFA
IR
Return on Assets (Normalized)
 15.13%7.80%8.05%
Return on Equity (Normalized)
 31.04%17.84%12.86%
Return on Invested Capital (Normalized)
 22.70%12.45%10.87%
Return on Assets
ATCO A
ALFA
IR
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