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    Saab (OM:SAAB B) Is Up 12.8% After Record Q2, New Gripen Contracts And Brazil Deal

    Simply Wall St·07/23/2026 12:26:24
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    • In July 2026 Saab AB reported stronger second-quarter results, securing major submarine and Gripen fighter contracts that lifted sales to SEK 25,453 million and net income to SEK 2,142 million.
    • Alongside these earnings, Saab expanded its Gripen industrial footprint through a Heads of Agreement with Embraer in Brazil and new training and sustainment collaborations in Canada, deepening its global defense partnerships and production capacity.
    • We’ll now examine how Saab’s record backlog and expanded Gripen production in Brazil influence its existing investment narrative and risk profile.

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    Saab Investment Narrative Recap

    To own Saab today, you need to believe in long-duration defense demand supported by multi-year contracts and a very large order backlog, while accepting exposure to political budget decisions and heavy upfront investment in capacity and R&D. The latest quarter, with higher sales and earnings plus fresh Gripen and naval wins, reinforces the near term earnings catalyst. It does not remove the key risk that government order timing and export rules can still create meaningful swings in future revenues and cash flows.

    The Heads of Agreement with Embraer in Brazil looks especially relevant here. By setting up potential production of 20 additional Gripen aircraft at Gavião Peixoto alongside Saab’s Swedish line, it aligns with the backlog driven growth story and the push to expand output without building all new greenfield sites. At the same time, it underlines Saab’s reliance on cross border defense cooperation, which keeps political and export control risk firmly in the picture.

    Yet beneath the strong backlog and new Gripen lines, investors should still be aware of how quickly government priorities and export rules can shift...

    Read the full narrative on Saab (it's free!)

    Saab’s narrative projects SEK136.0 billion in revenue and SEK11.5 billion in earnings by 2029.

    Uncover how Saab's forecasts yield a SEK604.91 fair value, a 3% upside to its current price.

    Exploring Other Perspectives

    OM:SAAB B 1-Year Stock Price Chart
    OM:SAAB B 1-Year Stock Price Chart

    Before this news, the most optimistic analysts already projected Saab’s revenues at about SEK 153.9 billion and earnings near SEK 14.6 billion by 2029, highlighting how bullish views on AI enabled Gripen and GlobalEye differ sharply from more cautious takes on budget and export risk, and why you may want to compare several such narratives yourself as this latest wave of orders and alliances feeds into updated forecasts.

    Explore 7 other fair value estimates on Saab - why the stock might be worth less than half the current price!

    The Verdict Is Yours

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

    • A great starting point for your Saab research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
    • Our free Saab research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Saab's overall financial health at a glance.

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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.