Arjo AB (publ) ARJO B.ST · SEK

Health Care · Nasdaq Stockholm · 🇸🇪 Sweden

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36.42

-0.71%

Close of 9 Nov 2026, in SEK

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At a glance

Figures in SEK, from our data supplier.

FY2025

Revenue

SEK 11.00bn

FY2016FY2025

Net income

SEK 334.0m

FY2016FY2025

Free cash flow

SEK 757.0m

FY2016FY2025

Shareholders' equity

SEK 7.46bn

FY2016FY2025

Income statement

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	SEK 11.00bn	SEK 11.29bn	SEK 10.98bn	SEK 9.98bn	SEK 9.07bn	SEK 9.08bn	SEK 8.93bn	SEK 8.22bn	SEK 7.69bn	SEK 7.81bn
Gross profit	SEK 4.32bn	SEK 4.91bn	SEK 4.74bn	SEK 4.21bn	SEK 4.21bn	SEK 4.13bn	SEK 3.89bn	SEK 3.66bn	SEK 3.43bn	SEK 3.44bn
Research and development	SEK 140.0m	SEK 150.0m	SEK 172.0m	SEK 115.0m	SEK 100.0m	SEK 114.0m	SEK 139.0m	SEK 141.0m	SEK 134.0m	SEK 133.0m
Operating income	SEK 870.0m	SEK 893.0m	SEK 884.0m	SEK 691.0m	SEK 1.08bn	SEK 866.0m	SEK 671.0m	SEK 493.0m	SEK 281.0m	SEK 781.0m
Net income	SEK 334.0m	SEK 498.0m	SEK 480.0m	SEK 449.0m	SEK 742.0m	SEK 526.0m	SEK 403.0m	SEK 296.0m	SEK 118.0m	SEK 490.0m
Diluted earnings per share	1.23	1.83	1.76	1.65	2.72	1.93	1.46	1.09	0.43	1.50

Balance sheet

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Total assets	SEK 14.98bn	SEK 16.28bn	SEK 16.00bn	SEK 16.17bn	SEK 14.61bn	SEK 13.86bn	SEK 14.42bn	SEK 13.14bn	SEK 12.21bn	SEK 14.71bn
Cash and short-term investments	SEK 836.0m	SEK 892.0m	SEK 923.0m	SEK 949.0m	SEK 757.0m	SEK 972.0m	SEK 662.0m	SEK 961.0m	SEK 672.0m	SEK 1.56bn
Total liabilities	SEK 7.52bn	SEK 7.94bn	SEK 8.42bn	SEK 8.54bn	SEK 7.73bn	SEK 8.23bn	SEK 8.51bn	SEK 7.71bn	SEK 7.14bn	SEK 4.05bn
Debt	SEK 5.35bn	SEK 5.42bn	SEK 5.49bn	SEK 6.31bn	SEK 5.45bn	SEK 3.12bn	SEK 6.56bn	SEK 5.67bn	SEK 5.22bn	SEK 1.91bn
Shareholders' equity	SEK 7.46bn	SEK 8.34bn	SEK 7.58bn	SEK 7.62bn	SEK 6.88bn	SEK 5.63bn	SEK 5.91bn	SEK 5.43bn	SEK 5.07bn	SEK 10.66bn
Shares outstanding	272m	272m	272m	272m	272m	272m	275m	272m	272m	327m

Cash flow

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Cash from operations	SEK 1.44bn	SEK 1.52bn	SEK 2.06bn	SEK 915.0m	SEK 1.73bn	SEK 2.27bn	SEK 1.25bn	SEK 991.0m	SEK 572.0m	SEK 919.0m
Capital spending	−SEK 678.0m	−SEK 678.0m	−SEK 679.0m	−SEK 900.0m	−SEK 760.0m	−SEK 807.0m	−SEK 758.0m	−SEK 642.0m	−SEK 653.0m	−SEK 325.0m
Free cash flow	SEK 757.0m	SEK 838.0m	SEK 1.38bn	SEK 15.0m	SEK 974.0m	SEK 1.46bn	SEK 494.0m	SEK 349.0m	−SEK 81.0m	SEK 594.0m
Dividends paid	−SEK 259.0m	−SEK 245.0m	−SEK 232.0m	−SEK 313.0m	−SEK 232.0m	−SEK 177.0m	−SEK 150.0m	−SEK 136.0m	−SEK 136.0m	−SEK 136.0m

Latest quarters

By quarter end

	Jun 2026	Mar 2026	Dec 2025	Sept 2025	Jun 2025	Mar 2025	Dec 2024	Sept 2024
Revenue	SEK 2.76bn	SEK 2.70bn	SEK 2.81bn	SEK 2.65bn	SEK 2.68bn	SEK 2.86bn	SEK 2.99bn	SEK 2.73bn
Gross profit	SEK 1.07bn	SEK 1.06bn	SEK 1.09bn	SEK 998.0m	SEK 1.16bn	SEK 1.25bn	SEK 1.34bn	SEK 1.15bn
Operating income	SEK 207.0m	SEK 188.0m	SEK 256.0m	SEK 163.0m	SEK 174.0m	SEK 168.0m	SEK 287.0m	SEK 158.0m
Net income	SEK 125.0m	SEK 108.0m	SEK 70.0m	SEK 81.0m	SEK 92.0m	SEK 91.0m	SEK 174.0m	SEK 73.0m
Diluted earnings per share	0.46	0.40	0.26	0.30	0.34	0.33	0.64	0.27
Cash from operations	SEK 257.0m	SEK 237.0m	SEK 600.0m	SEK 446.0m	SEK 205.0m	SEK 184.0m	SEK 479.0m	SEK 437.0m
Capital spending	−SEK 221.0m	−SEK 58.0m	−SEK 152.0m	−SEK 143.0m	−SEK 97.0m	−SEK 138.0m	−SEK 9.0m	−SEK 147.0m
Free cash flow	SEK 36.0m	SEK 179.0m	SEK 448.0m	SEK 303.0m	SEK 108.0m	SEK 46.0m	SEK 470.0m	SEK 290.0m
Total assets	SEK 15.68bn	SEK 15.48bn	SEK 14.98bn	SEK 15.19bn	SEK 15.46bn	SEK 15.31bn	SEK 16.28bn	SEK 15.68bn
Cash and short-term investments	SEK 818.0m	SEK 898.0m	SEK 836.0m	SEK 705.0m	SEK 766.0m	SEK 609.0m	SEK 892.0m	SEK 718.0m
Debt	SEK 2.04bn	SEK 2.30bn	SEK 5.35bn	SEK 5.47bn	SEK 4.38bn	SEK 5.22bn	SEK 5.42bn	SEK 2.60bn
Shareholders' equity	SEK 7.76bn	SEK 7.81bn	SEK 7.46bn	SEK 7.52bn	SEK 7.54bn	SEK 7.84bn	SEK 8.34bn	SEK 7.86bn

Financial ratios

Data as of 11 Oct 2026

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	39.2%	43.4%	43.1%	42.2%	46.4%	45.5%
Operating margin	6.1%	8.4%	8.2%	7.2%	11.9%	9.3%
Net margin	3.0%	4.4%	4.4%	4.5%	8.2%	5.8%
Return on equity	4.5%	6.0%	6.3%	5.9%	10.8%	9.3%
Return on assets	2.2%	3.1%	3.0%	2.8%	5.1%	3.8%
Free cash flow yield	28.5%	29.6%	37.0%	24.5%	33.7%	41.5%
Revenue growth	-2.6%	2.8%	10.0%	10.0%	-0.1%	1.7%
Earnings growth	-32.9%	3.8%	6.9%	-39.5%	41.1%	30.5%
Current ratio	1.12x	1.06x	1.01x	1.09x	0.64x	0.79x
Debt to equity	0.60x	0.55x	0.62x	0.72x	0.67x	0.41x
Equity ratio	49.8%	51.2%	47.4%	47.2%	47.1%	40.6%
Interest coverage	3.23x	3.71x	3.38x	5.29x	10.98x	5.84x
R&D as a share of sales	1.3%	1.3%	1.6%	1.2%	1.1%	1.3%
Buybacks as a share of market value	0.0%	0.0%	-0.0%	-0.0%	0.0%	1.1%

Growth per year

Compound annual rate

	3 years	5 years	10 years
Revenue	3.3%	3.9%	3.1%
Operating income	8.0%	0.1%	4.9%
Net income	-9.4%	-8.7%	0.8%

Average margins

Over each period

	1 year	3 years	5 years	10 years
Gross margin	41.4%	42.0%	43.2%	43.6%
Operating margin	7.9%	7.7%	8.6%	7.9%
Net margin	3.7%	4.1%	4.9%	4.5%

Valuation history

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Price to earnings	26.1	19.8	22.4	23.6	40.7	32.5	30.8	26.1	54.0
Price to sales	0.8	0.9	1.0	1.1	3.3	1.9	1.4	0.9	0.8

Dividends and splits

Per share, in the currency the company pays

Paid for 8 years. Last went ex-dividend on 23 Apr 2026.

	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Paid in the year	0.95	0.95	0.90	0.85	1.15	0.85	0.65	0.55

Sources and methodology

Data on this tab: Our data supplier
Chart on the Overview: TradingView

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Arjo AB (publ) ARJO B.ST · SEK

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At a glance

Income statement

Balance sheet

Cash flow

Latest quarters

Financial ratios

Growth per year

Average margins

Valuation history

Dividends and splits

Sources and methodology