Hexagon (OM:HEXA B) Faces A Valuation Test On Sales Growth And A Quarterly Loss

Hexagon (OM:HEXA B) released its second quarter 2026 results on 29 July, with sales reported at €1,050.2 million and a net loss of €1,266.1 million, compared with a net profit a year earlier.

See our latest analysis for Hexagon.

Hexagon's share price has risen 19.5% over the past month and 3.3% over the past quarter, yet it remains down 9.1% year to date. The 1 year total shareholder return of 10.3% and 3 year total shareholder return of 18.8% point to longer term gains that contrast with the recent earnings headline loss.

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Hexagon's share price swing sits against a mix of steady sales and a sharp quarterly loss, which raises a simple question. Is the recent rebound pointing to the underlying business or a change in sentiment ahead of the valuation work.

Most Popular Narrative: 10.3% Undervalued

Compared with Hexagon's last close at SEK97.30, the most followed narrative points to a higher fair value of SEK108.48, built on detailed long term forecasts.

The analysts have a consensus price target of SEK108.48 for Hexagon based on their expectations of its future earnings growth, profit margins and other risk factors.

However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of SEK145.79, and the most bearish reporting a price target of just SEK72.93. Read the complete narrative.

Want to understand why this fair value sits well above today's price? The narrative leans on shifting revenue expectations, changing margins and a richer future earnings multiple. Curious which assumptions really carry the model?

Result: Fair Value of SEK108.48 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, the Hexagon narrative could be challenged if margin pressure persists, or if weaker construction related demand keeps revenues softer than the analysts currently factor in.

Find out about the key risks to this Hexagon narrative.

Next Steps

With sentiment on Hexagon clearly mixed, this is a moment to move quickly and test the data for yourself rather than rely on headlines. To see both sides of the story, review the 4 key rewards and 3 important warning signs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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