A 
Addnode Group AB (publ) ANOD B.ST · SEK
Information Technology · Nasdaq Stockholm · 🇸🇪 Sweden
61.90
+0.49%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 5.79bn
FY2016FY2025
Net income
SEK 384.0m
FY2016FY2025
Free cash flow
SEK 153.0m
FY2016FY2025
Shareholders' equity
SEK 2.73bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.79bn | SEK 7.76bn | SEK 7.41bn | SEK 6.22bn | SEK 4.08bn | SEK 3.81bn | SEK 3.43bn | SEK 2.94bn | SEK 2.52bn | SEK 2.20bn |
| Research and development | — | SEK 110.0m | SEK 290.0m | SEK 213.0m | SEK 166.0m | SEK 79.0m | SEK 71.0m | SEK 31.0m | SEK 29.5m | SEK 22.2m |
| Operating income | SEK 607.0m | SEK 598.0m | SEK 424.0m | SEK 527.0m | SEK 305.0m | SEK 229.0m | SEK 218.0m | SEK 203.0m | SEK 129.9m | SEK 113.7m |
| Net income | SEK 384.0m | SEK 402.0m | SEK 279.0m | SEK 382.0m | SEK 223.0m | SEK 163.0m | SEK 129.0m | SEK 152.0m | SEK 89.6m | SEK 82.3m |
| Diluted earnings per share | 2.83 | 3.01 | 2.09 | 2.86 | 1.66 | 1.22 | 0.96 | 1.16 | 0.74 | 0.68 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 9.80bn | SEK 8.58bn | SEK 7.20bn | SEK 6.20bn | SEK 4.32bn | SEK 3.82bn | SEK 3.17bn | SEK 3.08bn | SEK 2.63bn | SEK 1.99bn |
| Cash and short-term investments | SEK 625.0m | SEK 674.0m | SEK 667.0m | SEK 600.0m | SEK 406.0m | SEK 644.0m | SEK 294.0m | SEK 387.0m | SEK 173.2m | SEK 111.5m |
| Total liabilities | SEK 7.07bn | SEK 6.12bn | SEK 5.08bn | SEK 4.19bn | SEK 2.63bn | SEK 2.31bn | SEK 1.76bn | SEK 1.74bn | SEK 1.64bn | SEK 1.02bn |
| Debt | SEK 3.09bn | SEK 1.73bn | SEK 1.67bn | SEK 1.07bn | SEK 776.0m | SEK 828.0m | SEK 615.0m | SEK 546.0m | SEK 620.8m | SEK 177.3m |
| Shareholders' equity | SEK 2.73bn | SEK 2.46bn | SEK 2.12bn | SEK 2.00bn | SEK 1.69bn | SEK 1.51bn | SEK 1.41bn | SEK 1.34bn | SEK 982.5m | SEK 964.7m |
| Shares outstanding | 136m | 133m | 133m | 134m | 134m | 134m | 134m | 131m | 122m | 122m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 430.0m | SEK 701.0m | SEK 485.0m | SEK 714.0m | SEK 437.0m | SEK 579.0m | SEK 413.0m | SEK 285.0m | SEK 147.1m | SEK 157.8m |
| Capital spending | −SEK 277.0m | −SEK 210.0m | −SEK 202.0m | −SEK 129.0m | −SEK 108.0m | −SEK 106.0m | −SEK 81.0m | −SEK 71.0m | −SEK 65.0m | −SEK 67.9m |
| Free cash flow | SEK 153.0m | SEK 491.0m | SEK 283.0m | SEK 585.0m | SEK 329.0m | SEK 473.0m | SEK 332.0m | SEK 214.0m | SEK 82.2m | SEK 89.8m |
| Dividends paid | −SEK 154.0m | −SEK 133.0m | −SEK 133.0m | −SEK 100.0m | −SEK 84.0m | −SEK 84.0m | −SEK 84.0m | −SEK 68.0m | −SEK 68.5m | −SEK 68.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.45bn | SEK 1.53bn | SEK 1.56bn | SEK 1.31bn | SEK 1.46bn | SEK 1.46bn | SEK 1.48bn | SEK 1.86bn |
| Operating income | SEK 58.0m | SEK 186.0m | SEK 214.0m | SEK 74.0m | SEK 170.0m | SEK 149.0m | SEK 245.0m | SEK 137.0m |
| Net income | SEK 20.0m | SEK 113.0m | SEK 137.0m | SEK 54.0m | SEK 104.0m | SEK 90.0m | SEK 131.0m | SEK 97.0m |
| Diluted earnings per share | 0.15 | 0.83 | 1.01 | 0.40 | 0.77 | 0.66 | 0.98 | 0.73 |
| Cash from operations | SEK 62.0m | SEK 363.0m | SEK 325.0m | −SEK 65.0m | −SEK 33.0m | SEK 203.0m | SEK 275.0m | −SEK 133.0m |
| Capital spending | −SEK 60.0m | −SEK 66.0m | −SEK 52.0m | −SEK 118.0m | −SEK 57.0m | −SEK 50.0m | −SEK 57.0m | −SEK 43.0m |
| Free cash flow | SEK 2.0m | SEK 297.0m | SEK 273.0m | −SEK 183.0m | −SEK 90.0m | SEK 153.0m | SEK 218.0m | −SEK 176.0m |
| Total assets | SEK 9.49bn | SEK 9.90bn | SEK 9.80bn | SEK 8.41bn | SEK 7.96bn | SEK 8.02bn | SEK 8.58bn | SEK 7.80bn |
| Cash and short-term investments | SEK 701.0m | SEK 922.0m | SEK 625.0m | SEK 339.0m | SEK 730.0m | SEK 680.0m | SEK 674.0m | SEK 441.0m |
| Debt | SEK 126.0m | SEK 152.0m | SEK 3.36bn | SEK 2.26bn | SEK 1.88bn | SEK 1.62bn | SEK 92.0m | — |
| Shareholders' equity | SEK 2.84bn | SEK 2.95bn | SEK 2.73bn | SEK 2.64bn | SEK 2.41bn | SEK 2.46bn | SEK 2.46bn | SEK 2.28bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 12.2% | 8.9% | 6.2% | 8.6% | 7.5% | 6.0% | — |
| Net margin | 6.6% | 5.2% | 3.8% | 6.1% | 5.5% | 4.3% | — |
| Return on equity | 14.1% | 16.4% | 13.2% | 19.1% | 13.2% | 10.8% | — |
| Return on assets | 3.9% | 4.7% | 3.9% | 6.2% | 5.2% | 4.3% | — |
| Free cash flow yield | 9.9% | 13.0% | 9.8% | 12.0% | 7.7% | 9.7% | — |
| Revenue growth | -25.3% | 4.7% | 19.1% | 52.7% | 7.1% | 10.9% | — |
| Earnings growth | -4.5% | 44.1% | -27.0% | 71.3% | 36.8% | 26.4% | — |
| Current ratio | 0.94x | 0.92x | 0.99x | 0.90x | 0.89x | 0.70x | — |
| Debt to equity | 1.13x | 0.64x | 0.69x | 0.48x | 0.43x | 0.50x | — |
| Equity ratio | 27.9% | 28.7% | 29.4% | 32.3% | 39.2% | 39.6% | — |
| Interest coverage | 3.69x | 3.58x | 4.66x | 12.79x | 19.06x | 12.11x | — |
| R&D as a share of sales | — | 1.4% | 3.9% | 3.4% | 4.1% | 2.1% | 2.1% |
| Buybacks as a share of market value | -1.7% | -0.1% | 0.1% | 0.3% | -0.2% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 8.8% | 11.8% |
| Operating income | 4.8% | 21.5% | 17.0% |
| Net income | 0.2% | 18.7% | 14.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.9% | 7.9% | 7.7% | 7.2% |
| Net margin | 5.8% | 5.3% | 5.2% | 5.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 34.2 | 34.4 | 40.8 | 34.4 | 64.4 | 58.6 | 46.3 | 22.3 | 25.7 | 20.9 |
| Price to sales | 2.3 | 1.8 | 1.5 | 2.1 | 3.5 | 2.5 | 1.7 | 1.1 | 0.9 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 8 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.15 | 1.15 | 1.00 | 1.00 | 0.75 | 0.625 | 0.625 | 0.563 |
- 4-for-1 split · 17 May 2022
- 100-to-1 reverse split · 22 Apr 2003
- 5-for-1 split · 28 Feb 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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