ATLKY vs SWK: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
ATLKY is the larger of the two ($94.94B market cap): the incumbent the market prices for continued execution (24.05x forward earnings, beta 1.04). SWK is the smaller challenger ($13.97B), cheaper on forward earnings (14.68x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
ATLKY vs SWK: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | ATLKY | SWK | What it tells you |
|---|---|---|---|
| Market cap | $94.94B | $13.97B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 24.05 | 14.68 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 33.55 | 22.61 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.04 | 1.17 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 56% of range | 71% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
Reading it: SWK is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how ATLKY and SWK affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. ATLKY and SWK share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined ATLKY and SWK exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Atlas Copco (ATLKY) do?
Atlas Copco AB, founded in Stockholm in 1873, makes the machinery that keeps factories running. It reports four business areas. Compressor Technique, the largest, sells industrial air and gas compressors, dryers and blowers. Vacuum Technique, built around brands like Edwards and Leybold, supplies the vacuum pumps and abatement systems that semiconductor fabs, flat-panel lines and scientific labs depend on. Industrial Technique sells precision tightening tools, assembly systems and machine vision, much of it to car makers. Power Technique rents and sells portable compressors, generators, pumps and lighting. A large share of revenue comes from service, spare parts and rentals on an enormous installed base, which smooths results through the cycle. ATLKY is a sponsored Citibank ADR where one ADR equals one A share traded in Stockholm as ATCO A, so ADR prices and dividends move with both the Swedish share and the krona to dollar exchange rate.
What does Stanley Black & Decker (SWK) do?
Stanley Black & Decker, Inc. (NYSE: SWK) is a worldwide leader in tools and outdoor products, founded in 1843 and employing roughly 41,000 people. Its portfolio includes marquee brands such as DEWALT (professional power tools), Craftsman, Black+Decker, and Stanley hand tools and storage, plus outdoor and lifestyle products and a range of digital jobsite solutions. Beyond tools, it runs an Engineered Fastening business that supplies fasteners and fastening systems to automotive and aerospace customers. The company reports primarily through its Tools & Outdoor and Industrial (Engineered Fastening) segments.
ATLKY vs SWK: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- ATLKY drivers: Semiconductor vacuum recovery; Compressor service and energy efficiency.
- SWK drivers: Cost-reduction and margin recovery; Strong, well-known brands.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Valuation is the most immediate risk. For SWK, the main risk is cyclical end-market demand: tool sales track construction, housing turnover, home improvement, and consumer spending, so a weak housing market or cautious consumer can pressure volumes and undercut the margin recovery.
ATLKY or SWK: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick ATLKY if you believe its drivers more; SWK if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the ATLKY and SWK guides.
ATLKY vs SWK: the full fundamentals
ATLKY. Figures reflect results through the second quarter of 2026, with the third-quarter report due October 22, 2026. Because one ATLKY ADR equals one Stockholm A share, per-ADR earnings and dividends are the krona figures converted at roughly 9.5 to 10 krona per dollar, so they shift with the exchange rate. The trailing multiple looks expensive partly because 2025 earnings were depressed by a strong krona and a cyclical dip; on forward consensus the P/E is closer to 30 times. Even so, that is well above typical industrial multiples, reflecting Atlas Copco's margins, service mix and long record of high returns on capital.
SWK. Stanley Black & Decker in late 2026 is a margin-recovery story that the market has started to pay for: the stock is up ~37% in a year on earnings beats that came from cost savings rather than sales growth. At ~15 times forward earnings and a ~3.6% yield it is no longer priced at trough levels, so the next leg depends on whether demand eventually adds to what the cost program has delivered. The November 4 report is the next checkpoint.
Headline figures (approximate, October 2026): ATLKY shows revenue (ttm) ~SEK 170B (~$17-18B), adjusted operating margin (q2 2026) ~21.0%, diluted eps (ttm) ~SEK 5.46 (~$0.55 per ADR), trailing p/e ~38x; SWK shows revenue (ttm) ~$15.3B, roughly flat year over year (Q2 2026 up ~0.4%), margins (ttm) ~32% gross, ~8.4% operating, ~4.1% net, net income (ttm) ~$620M (~$4.09 per share), q2 2026 adjusted eps ~$1.57 vs ~$1.21 consensus.
The bottom line: ATLKY vs SWK
ATLKY and SWK are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined ATLKY and SWK exposure against your real portfolio. It is not an investment adviser.
Wondering how ATLKY or SWK fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Atlas Copco with AI
Connect the broker you already use and ask Walnut's AI how ATLKY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between ATLKY and SWK?
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Atlas Copco AB, founded in Stockholm in 1873, makes the machinery that keeps factories running. Stanley Black & Decker, Inc. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is ATLKY or SWK the better stock?
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Neither is universally better. ATLKY is the larger incumbent; SWK is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, ATLKY or SWK?
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On forward P/E (as of October 2026), ATLKY trades at 24.05x and SWK at 14.68x, so SWK is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both ATLKY and SWK?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of ATLKY vs SWK?
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ATLKY: Valuation is the most immediate risk. At roughly 38 times trailing earnings and about 30 times forward estimates, Atlas Copco trades at a large premium to most industrial peers, and premium multiples can compress quickly if growth disappoints. The recent order surge is heavily tied to semiconductor customers, and chip capital spending is famously lumpy, so a pause in fab projects could reverse vacuum orders within a few quarters. General industrial demand in Europe and China has been soft, and Industrial Technique depends on automotive production, where electric vehicle investment has slowed. Currency moves cut both ways: a strong krona reduces reported revenue and earnings, while ATLKY holders also carry the krona to dollar exchange rate directly. Tariffs and trade restrictions, including US export controls on semiconductor equipment to China, could affect both demand and supply chains. Its frequent acquisitions bring integration risk and can make organic trends harder to read. ATLKY trades over the counter, so spreads can be wider and liquidity thinner than for the Stockholm shares, and dividends are subject to Swedish withholding tax, which some US investors can only partially reclaim. SWK: The main risk is cyclical end-market demand: tool sales track construction, housing turnover, home improvement, and consumer spending, so a weak housing market or cautious consumer can pressure volumes and undercut the margin recovery. Tariffs and trade policy are a live concern for a company that manufactures and sources globally, adding cost volatility that management must offset through pricing and supply-chain moves. Commodity and input costs, plus foreign-exchange swings across international operations, can compress margins. The turnaround itself carries execution risk: cost savings must be sustained rather than one-time, and growth investments in outdoor and other categories can dilute near-term margins. Competition is intense, especially against Techtronic's Milwaukee and Bosch in cordless power tools, where battery technology and professional loyalty are key battlegrounds. Finally, the dividend, while long-standing, ultimately depends on cash flow holding up through the recovery. After a ~37% one-year gain the valuation leaves less room for disappointment than it did at the 52-week low of ~$61.90.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell ATLKY or SWK; figures are approximate and dated (as of October 2026). Verify current data before investing.