Atlas Copco AB

ATCO-B.ST · STO

Company research

Atlas Copco AB (ATCO-B.ST) is a Swedish multinational industrial company founded in 1873 and headquartered in Nacka, Sweden, operating as a global leader in productivity solutions with a presence in approximately 180 countries. The company serves a broad range of industries — including manufacturing, automotive, semiconductor, construction, and oil and gas — through four core business segments: Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. Its diversified product portfolio spans industrial compressors, vacuum pumps, assembly tools, generators, portable power equipment, and machine vision solutions, with aftermarket services and spare parts accounting for a significant share of recurring revenues. Listed on the Nasdaq Stockholm exchange and a constituent of the OMXS30 index, Atlas Copco employs approximately 55,000 people and reported revenues of around SEK 177 billion in 2024, under the leadership of CEO Vagner Rego.

Research reports

LRT Capital · July 16, 2025Atlas Copco AB (ATCO-B.ST): An In-Depth Investment Analysis of a Resilient Industrial Leader

This report argues that Atlas Copco is a best‑in‑class industrial compounder whose premium valuation is justified by superior profitability, a resilient service‑driven earnings base, and exposure to secular growth in automation and sustainability, and it initiates coverage with a buy recommendation, a 3–5 year investment horizon, and an intrinsic value range of SEK 200–225 per share. It highlights key risks including cyclical demand in capital‑equipment markets, semiconductor‑sector volatility, high Asia‑Pacific and China exposure, competitive threats to its technological edge, and the possibility of valuation multiple compression given the stock’s premium rating.