C 
3.61
-0.28%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 3.46bn
FY2016FY2025
Net income
−SEK 3.31bn
FY2016FY2025
Free cash flow
SEK 812.0m
FY2016FY2025
Shareholders' equity
SEK 16.49bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 3.46bn | SEK 3.69bn | SEK 4.24bn | SEK 4.49bn | SEK 2.91bn | SEK 894.0m | SEK 961.0m | SEK 965.0m | SEK 900.0m | SEK 740.0m |
| Research and development | — | — | SEK 2 | SEK 0 | SEK 2 | SEK 0 | SEK 3 | SEK 1 | SEK 1 | SEK 1 |
| Operating income | SEK 2.09bn | SEK 2.20bn | SEK 2.70bn | −SEK 543.0m | SEK 5.29bn | SEK 1.47bn | SEK 1.95bn | SEK 733.0m | SEK 701.0m | SEK 574.0m |
| Net income | −SEK 3.31bn | −SEK 1.06bn | −SEK 7.97bn | SEK 3.03bn | SEK 4.41bn | −SEK 108.0m | SEK 3.11bn | SEK 1.18bn | SEK 937.0m | SEK 915.0m |
| Diluted earnings per share | -2.40 | -0.89 | -7.39 | 2.81 | 4.06 | -0.31 | 8.55 | 3.25 | 2.29 | 2.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 53.13bn | SEK 61.78bn | SEK 64.85bn | SEK 90.86bn | SEK 92.24bn | SEK 18.67bn | SEK 17.13bn | SEK 15.71bn | SEK 13.35bn | SEK 12.12bn |
| Cash and short-term investments | SEK 1.80bn | SEK 586.0m | SEK 429.0m | SEK 2.08bn | SEK 571.0m | SEK 15.0m | SEK 1.55bn | SEK 14.0m | SEK 34.0m | SEK 7.0m |
| Total liabilities | SEK 36.64bn | SEK 40.27bn | SEK 42.83bn | SEK 59.55bn | SEK 58.30bn | SEK 11.40bn | SEK 8.96bn | SEK 10.41bn | SEK 9.01bn | SEK 8.45bn |
| Debt | SEK 30.14bn | SEK 32.97bn | SEK 34.71bn | SEK 49.54bn | SEK 47.83bn | SEK 9.85bn | SEK 7.60bn | SEK 9.30bn | SEK 8.00bn | SEK 7.57bn |
| Shareholders' equity | SEK 16.49bn | SEK 21.51bn | SEK 22.00bn | SEK 31.27bn | SEK 33.34bn | SEK 7.28bn | SEK 8.17bn | SEK 5.30bn | SEK 4.34bn | SEK 3.67bn |
| Shares outstanding | 1,377m | 1,185m | 1,079m | 1,079m | 1,085m | 343m | 364m | 364m | 409m | 387m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 812.0m | SEK 920.0m | SEK 718.0m | SEK 2.23bn | SEK 1.19bn | SEK 370.0m | SEK 467.0m | SEK 448.0m | SEK 440.0m | SEK 411.0m |
| Capital spending | — | — | −SEK 4.0m | −SEK 39.0m | −SEK 249.0m | −SEK 4.0m | −SEK 506.0m | −SEK 354.0m | −SEK 340.0m | −SEK 385.0m |
| Free cash flow | SEK 812.0m | SEK 920.0m | SEK 714.0m | SEK 2.19bn | SEK 941.0m | SEK 366.0m | −SEK 39.0m | SEK 94.0m | SEK 100.0m | SEK 26.0m |
| Dividends paid | −SEK 523.0m | −SEK 659.0m | −SEK 830.0m | −SEK 627.0m | −SEK 468.0m | −SEK 278.0m | −SEK 236.0m | −SEK 218.0m | −SEK 192.0m | −SEK 179.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 787.0m | SEK 799.0m | SEK 823.0m | SEK 850.0m | SEK 896.0m | SEK 896.0m | SEK 915.0m | SEK 898.0m |
| Operating income | SEK 490.0m | SEK 433.0m | SEK 469.0m | SEK 524.0m | SEK 568.0m | SEK 527.0m | SEK 516.0m | SEK 547.0m |
| Net income | SEK 7.0m | −SEK 64.0m | −SEK 2.30bn | −SEK 437.0m | −SEK 497.0m | −SEK 81.0m | −SEK 790.0m | −SEK 275.0m |
| Diluted earnings per share | 0.09 | -0.84 | -1.67 | -0.32 | -0.36 | -0.06 | -0.67 | -0.23 |
| Cash from operations | SEK 284.0m | SEK 20.0m | SEK 251.0m | SEK 310.0m | SEK 151.0m | SEK 160.0m | SEK 351.0m | SEK 299.0m |
| Capital spending | −SEK 284.0m | — | — | −SEK 310.0m | — | −SEK 2.0m | — | −SEK 115.0m |
| Free cash flow | SEK 0 | — | — | SEK 0 | — | SEK 158.0m | — | SEK 184.0m |
| Total assets | SEK 52.14bn | SEK 55.16bn | SEK 53.13bn | SEK 56.51bn | SEK 57.22bn | SEK 60.27bn | SEK 61.78bn | SEK 62.15bn |
| Cash and short-term investments | SEK 78.0m | SEK 65.0m | SEK 1.80bn | SEK 314.0m | SEK 536.0m | SEK 439.0m | SEK 586.0m | SEK 575.0m |
| Debt | SEK 28.56bn | SEK 30.47bn | SEK 30.14bn | SEK 30.66bn | SEK 29.95bn | SEK 32.18bn | SEK 31.15bn | SEK 31.27bn |
| Shareholders' equity | SEK 15.32bn | SEK 16.39bn | SEK 16.49bn | SEK 18.85bn | SEK 20.11bn | SEK 20.92bn | SEK 21.51bn | SEK 21.95bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -76.1% | 2.6% | 63.7% | -29.3% | 181.5% | 135.1% | — | — |
| Net margin | -95.6% | -28.7% | -187.8% | 67.6% | 151.4% | -12.1% | — | — |
| Return on equity | -20.1% | -4.9% | -36.2% | 9.7% | 13.2% | -1.5% | — | — |
| Return on assets | -6.2% | -1.7% | -12.3% | 3.3% | 4.8% | -0.6% | — | — |
| Free cash flow yield | — | — | 20.4% | 64.2% | 40.5% | 33.2% | 81.4% | 67.1% |
| Revenue growth | -6.2% | -12.9% | -5.5% | 54.2% | 225.7% | -7.0% | — | — |
| Earnings growth | 212.7% | -86.7% | -362.7% | -31.2% | -4181.5% | -103.5% | — | — |
| Current ratio | 0.16x | 0.08x | 0.03x | 0.20x | 0.12x | 0.02x | — | — |
| Debt to equity | 1.74x | 1.45x | 1.52x | 1.53x | 1.40x | 1.32x | — | — |
| Equity ratio | 31.0% | 34.8% | 33.9% | 34.4% | 36.1% | 39.0% | — | — |
| Interest coverage | -2.14x | 0.07x | 1.83x | -1.12x | 7.46x | 4.12x | — | — |
| 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 | -16.2% | -9.8% | 0.0% | 0.5% | -216.0% | 5.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.3% | 31.1% | 18.7% |
| Operating income | — | 7.2% | 15.8% |
| Net income | — | 98.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 59.9% | 40.6% | 67.0% | 73.8% |
| Net margin | -61.0% | -58.5% | -25.4% | 8.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -7.4 | -1.4 | 3.7 | 8.0 | -59.7 | 3.2 | 3.1 | 4.4 | 2.9 |
| Price to sales | 1.8 | 2.1 | 2.7 | 2.5 | 12.1 | 7.2 | 10.2 | 3.8 | 4.6 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 29 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.10 | 0.10 | 0.40 | 0.40 | 0.65 | 0.60 | 0.45 |
- 2-to-1 reverse split · 16 Jan 2018
- 2-for-1 split · 14 Jun 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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