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B

BHG Group BHG.ST · SEK

Consumer Discretionary · Nasdaq Stockholm · 🇸🇪 Sweden

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24.68

+0.33%

Close of 9 Nov 2026, in SEK

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At a glance

Figures in SEK, from our data supplier.

FY2025

Revenue

SEK 10.58bn

FY2016FY2025

Net income

SEK 145.3m

FY2016FY2025

Free cash flow

SEK 405.2m

FY2016FY2025

Shareholders' equity

SEK 5.87bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueSEK 10.58bnSEK 9.96bnSEK 11.79bnSEK 13.43bnSEK 12.66bnSEK 8.97bnSEK 6.21bnSEK 4.97bnSEK 4.42bnSEK 2.60bn
Gross profitSEK 2.64bnSEK 2.43bnSEK 1.87bnSEK 2.98bnSEK 3.36bnSEK 2.33bnSEK 1.49bnSEK 1.05bnSEK 935.5mSEK 508.9m
Research and development——SEK 90.7mSEK 85.4mSEK 57.8mSEK 39.0mSEK 28.2mSEK 17.3mSEK 14.8m—
Operating incomeSEK 308.2m−SEK 451.0m−SEK 1.32bnSEK 91.2mSEK 710.6mSEK 657.8mSEK 282.0mSEK 87.2mSEK 99.1mSEK 77.6m
Net incomeSEK 145.3m−SEK 678.8m−SEK 1.56bnSEK 45.8mSEK 480.9mSEK 415.1mSEK 176.2mSEK 49.9mSEK 33.7mSEK 56.7m
Diluted earnings per share0.81-3.79-8.730.313.863.531.640.460.551.66

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsSEK 10.53bnSEK 10.89bnSEK 11.42bnSEK 14.28bnSEK 13.61bnSEK 8.63bnSEK 6.02bnSEK 4.85bnSEK 4.42bnSEK 880.5m
Cash and short-term investmentsSEK 300.5mSEK 451.3mSEK 370.3mSEK 477.6mSEK 273.5mSEK 299.0mSEK 270.3mSEK 226.9mSEK 156.1mSEK 51.3m
Total liabilitiesSEK 4.45bnSEK 4.91bnSEK 4.90bnSEK 6.61bnSEK 8.36bnSEK 5.81bnSEK 3.09bnSEK 2.04bnSEK 2.04bnSEK 650.9m
DebtSEK 2.33bnSEK 2.71bnSEK 2.56bnSEK 4.14bnSEK 5.52bnSEK 3.67bnSEK 1.32bnSEK 736.9mSEK 974.4mSEK 683.0m
Shareholders' equitySEK 5.87bnSEK 5.79bnSEK 6.34bnSEK 7.61bnSEK 5.21bnSEK 2.79bnSEK 2.89bnSEK 2.78bnSEK 2.38bnSEK 220.7m
Shares outstanding180m179m179m150m124m118m108m107m61m34m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsSEK 546.2mSEK 657.2mSEK 1.55bn−SEK 105.6m−SEK 27.6mSEK 994.3mSEK 391.1mSEK 120.6mSEK 141.2mSEK 111.6m
Capital spending−SEK 141.0m−SEK 135.0m−SEK 37.8m−SEK 198.7m−SEK 193.3m−SEK 94.5m−SEK 98.0m−SEK 68.4m−SEK 28.6m−SEK 19.0m
Free cash flowSEK 405.2mSEK 522.2mSEK 1.51bn−SEK 304.3m−SEK 220.9mSEK 899.8mSEK 293.1mSEK 52.2mSEK 112.6mSEK 92.6m
Dividends paid———−SEK 10.5m−SEK 5.1m−SEK 5.5m———−SEK 51,000

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueSEK 3.03bnSEK 2.25bnSEK 3.04bnSEK 2.60bnSEK 2.74bnSEK 2.20bnSEK 2.88bnSEK 2.35bn
Gross profitSEK 754.0mSEK 590.1m−SEK 1.01bnSEK 67.8mSEK 958.6mSEK 803.7mSEK 1.07bnSEK 568.6m
Operating incomeSEK 111.7mSEK 22.0mSEK 58.7mSEK 67.8mSEK 164.1mSEK 50.0m−SEK 333.0m−SEK 16.4m
Net incomeSEK 55.5m−SEK 17.2mSEK 39.6mSEK 11.2mSEK 75.6mSEK 18.9m−SEK 441.7m−SEK 67.2m
Diluted earnings per share0.31-0.100.220.060.420.11-2.46-0.37
Cash from operationsSEK 338.0m−SEK 82.0mSEK 338.0mSEK 16.0mSEK 363.0m−SEK 103.0mSEK 336.0mSEK 103.0m
Capital spending—−SEK 27.0m−SEK 45.0m−SEK 29.0m−SEK 34.0m−SEK 31.0m−SEK 81.0m−SEK 28.0m
Free cash flow—−SEK 109.0mSEK 293.0m−SEK 13.0mSEK 329.0m−SEK 134.0mSEK 255.0mSEK 75.0m
Total assetsSEK 10.88bnSEK 10.72bnSEK 10.53bnSEK 10.61bnSEK 11.08bnSEK 10.96bnSEK 10.89bnSEK 11.29bn
Cash and short-term investmentsSEK 564.7mSEK 349.5mSEK 300.5mSEK 261.8mSEK 682.1mSEK 419.8mSEK 451.3mSEK 266.6m
DebtSEK 1.77bnSEK 1.79bnSEK 2.16bnSEK 2.45bnSEK 2.83bnSEK 2.67bnSEK 2.84bnSEK 2.31bn
Shareholders' equitySEK 5.89bnSEK 5.85bnSEK 5.87bnSEK 5.84bnSEK 5.81bnSEK 5.77bnSEK 5.79bnSEK 6.06bn

Financial ratios

Data as of 18 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Gross margin24.9%24.3%15.9%22.2%26.5%26.0%——
Operating margin3.7%-4.5%-11.6%0.6%5.5%6.6%——
Net margin1.4%-6.8%-13.3%0.3%3.8%4.6%——
Return on equity2.5%-11.7%-24.7%0.6%9.2%14.9%——
Return on assets1.4%-6.2%-13.7%0.3%3.5%4.8%——
Free cash flow yield15.4%18.6%44.0%-3.6%-1.1%42.9%——
Revenue growth6.2%-15.5%-12.2%6.1%41.2%44.4%——
Earnings growth-121.4%-56.6%-3516.4%-90.5%15.9%135.6%——
Current ratio0.91x0.93x1.04x1.44x1.25x0.88x——
Debt to equity0.29x0.43x0.28x0.41x0.58x0.83x——
Equity ratio55.7%53.1%55.5%53.3%38.3%32.3%——
Interest coverage2.74x-2.23x-5.90x0.83x11.36x15.37x——
R&D as a share of sales——0.8%0.6%0.5%0.4%0.5%0.3%
Buybacks as a share of market value-0.4%0.0%-19.6%-20.3%-5.8%-9.4%——

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-7.6%3.4%18.8%
Operating income50.1%-14.1%21.2%
Net income46.9%-18.9%18.1%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin24.6%21.7%23.1%22.8%
Operating margin-0.7%-3.0%0.0%0.7%
Net margin-2.6%-4.5%-1.7%-0.9%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Price to earnings39.6-5.1-1.660.824.750.835.769.3
Price to sales0.50.30.20.20.92.41.00.7

Sources and methodology

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

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.