391.80
+1.71%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 2.67bn
FY2016FY2025
Net income
SEK 1.64bn
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
SEK 23.97bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.67bn | SEK 2.19bn | SEK 1.81bn | SEK 1.54bn | SEK 1.39bn | SEK 1.26bn | SEK 1.17bn | SEK 1.10bn | SEK 900.3m | SEK 805.5m |
| Gross profit | SEK 2.21bn | SEK 1.79bn | SEK 1.45bn | SEK 1.22bn | SEK 1.10bn | SEK 1.00bn | SEK 902.8m | SEK 836.1m | SEK 672.0m | SEK 578.1m |
| Research and development | — | — | SEK 1 | SEK 2 | SEK 2 | SEK 2 | SEK 1 | SEK 1 | SEK 1 | SEK 0 |
| Operating income | SEK 2.16bn | SEK 1.74bn | SEK 1.40bn | SEK 1.38bn | SEK 1.34bn | SEK 1.25bn | SEK 902.8m | SEK 1.06bn | SEK 880.2m | SEK 578.1m |
| Net income | SEK 1.64bn | SEK 1.08bn | SEK 986.0m | SEK 2.00bn | SEK 2.69bn | SEK 1.53bn | SEK 1.22bn | SEK 823.4m | SEK 634.7m | SEK 338.4m |
| Diluted earnings per share | 27.22 | 17.93 | 19.66 | 40.00 | 65.34 | 40.51 | 32.46 | 21.93 | 17.74 | 9.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 46.80bn | SEK 44.59bn | SEK 33.50bn | SEK 31.21bn | SEK 25.82bn | SEK 20.40bn | SEK 17.77bn | SEK 15.91bn | SEK 14.25bn | SEK 12.34bn |
| Cash and short-term investments | SEK 444.0m | SEK 1.07bn | SEK 430.0m | SEK 2.25bn | SEK 1.07bn | SEK 489.8m | SEK 198.0m | SEK 281.2m | SEK 94.8m | SEK 145.5m |
| Total liabilities | SEK 22.83bn | SEK 21.49bn | SEK 16.11bn | SEK 14.51bn | SEK 14.57bn | SEK 12.81bn | SEK 11.45bn | SEK 10.60bn | SEK 9.65bn | SEK 8.44bn |
| Debt | SEK 18.05bn | SEK 17.22bn | SEK 12.16bn | SEK 11.05bn | SEK 11.40bn | SEK 10.07bn | SEK 9.11bn | SEK 8.52bn | SEK 7.57bn | SEK 6.46bn |
| Shareholders' equity | SEK 23.97bn | SEK 23.10bn | SEK 17.39bn | SEK 16.70bn | SEK 11.26bn | SEK 7.59bn | SEK 6.32bn | SEK 5.31bn | SEK 4.60bn | SEK 3.90bn |
| Shares outstanding | 60m | 60m | 50m | 50m | 41m | 38m | 38m | 38m | 36m | 35m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.58bn | SEK 1.29bn | SEK 1.06bn | SEK 1.24bn | SEK 811.4m | SEK 744.3m | SEK 613.7m | SEK 517.7m | SEK 403.9m | SEK 289.5m |
| Capital spending | −SEK 1.58bn | — | −SEK 2.0m | −SEK 1.0m | −SEK 2.0m | −SEK 400,000 | −SEK 3.2m | −SEK 400,000 | −SEK 600,000 | −SEK 400,000 |
| Free cash flow | — | SEK 1.29bn | SEK 1.06bn | SEK 1.24bn | SEK 809.4m | SEK 743.9m | SEK 610.5m | SEK 517.3m | SEK 403.3m | SEK 289.1m |
| Dividends paid | −SEK 543.0m | −SEK 490.0m | −SEK 413.0m | −SEK 363.0m | −SEK 309.2m | −SEK 245.0m | −SEK 216.8m | −SEK 168.4m | −SEK 125.1m | −SEK 99.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 811.0m | SEK 701.0m | SEK 692.0m | SEK 679.0m | SEK 644.0m | SEK 644.0m | SEK 627.0m | SEK 546.0m |
| Gross profit | SEK 702.0m | SEK 567.0m | SEK 569.0m | SEK 552.0m | SEK 549.0m | SEK 536.0m | SEK 513.0m | SEK 449.0m |
| Operating income | SEK 687.0m | SEK 553.0m | SEK 553.0m | SEK 538.0m | SEK 537.0m | SEK 528.0m | SEK 499.0m | SEK 434.0m |
| Net income | SEK 712.0m | SEK 464.0m | SEK 516.0m | SEK 457.0m | SEK 245.0m | SEK 426.0m | SEK 483.0m | SEK 232.0m |
| Diluted earnings per share | 10.72 | 6.99 | 8.54 | 7.57 | 4.06 | 7.05 | 8.02 | 3.85 |
| Cash from operations | SEK 1.02bn | SEK 22.0m | SEK 509.0m | SEK 430.0m | SEK 334.0m | SEK 303.0m | SEK 335.0m | SEK 319.0m |
| Capital spending | — | — | −SEK 509.0m | −SEK 614.0m | −SEK 403.0m | — | — | — |
| Free cash flow | — | — | SEK 0 | −SEK 184.0m | −SEK 69.0m | — | — | — |
| Total assets | SEK 58.23bn | SEK 49.90bn | SEK 46.80bn | SEK 46.28bn | SEK 44.64bn | SEK 44.29bn | SEK 44.59bn | SEK 44.20bn |
| Cash and short-term investments | SEK 379.0m | SEK 2.57bn | SEK 444.0m | SEK 628.0m | SEK 387.0m | SEK 837.0m | SEK 1.07bn | SEK 1.58bn |
| Debt | SEK 25.22bn | SEK 17.79bn | SEK 18.05bn | SEK 4.87bn | SEK 17.00bn | SEK 16.78bn | SEK 17.22bn | SEK 16.94bn |
| Shareholders' equity | SEK 27.39bn | SEK 27.21bn | SEK 23.97bn | SEK 23.55bn | SEK 23.09bn | SEK 23.32bn | SEK 23.10bn | SEK 22.59bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 83.0% | 81.6% | 80.0% | 79.0% | 79.0% | 79.4% | — | — |
| Operating margin | 80.9% | 79.2% | 77.7% | 89.3% | 96.0% | 98.6% | — | — |
| Net margin | 61.7% | 49.2% | 54.5% | 129.3% | 193.3% | 120.8% | — | — |
| Return on equity | 6.9% | 4.7% | 5.7% | 12.0% | 23.9% | 20.1% | — | — |
| Return on assets | 3.5% | 2.4% | 2.9% | 6.4% | 10.4% | 7.5% | — | — |
| Free cash flow yield | 14.0% | — | 5.7% | 6.7% | 5.3% | 5.3% | 4.4% | — |
| Revenue growth | 21.6% | 21.3% | 17.1% | 10.8% | 10.2% | 7.9% | — | — |
| Earnings growth | 52.2% | 9.5% | -50.6% | -25.9% | 76.3% | 24.8% | — | — |
| Current ratio | 0.35x | 1.03x | 0.31x | 0.69x | 0.57x | 0.17x | — | — |
| Debt to equity | 0.74x | 0.73x | 0.68x | 0.65x | 0.98x | 1.28x | — | — |
| Equity ratio | 51.2% | 51.8% | 51.9% | 53.5% | 43.6% | 37.2% | — | — |
| Interest coverage | 3.83x | 3.47x | 3.78x | 6.83x | 9.62x | 5.33x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.3% | -20.1% | -0.5% | -21.1% | -9.3% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.0% | 16.1% | 18.8% |
| Operating income | 16.1% | 11.6% | 19.9% |
| Net income | -6.3% | 1.5% | 11.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 82.4% | 81.2% | 80.7% | 79.2% |
| Operating margin | 80.1% | 81.3% | 85.2% | 85.1% |
| Net margin | 56.1% | 69.5% | 91.3% | 88.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.5 | 26.4 | 24.0 | 9.7 | 8.6 | 9.5 | 12.7 | 10.1 | 8.8 | 13.4 |
| Price to sales | 10.2 | 13.0 | 13.1 | 12.6 | 16.7 | 11.5 | 13.3 | 7.5 | 6.2 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 24 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.75 | 9.00 | 8.50 | 8.26 | 8.00 | 7.50 | 6.50 | 5.75 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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