D 
23.10
-0.17%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 21.04bn
FY2016FY2025
Net income
SEK 428.0m
FY2016FY2025
Free cash flow
SEK 1.75bn
FY2016FY2025
Shareholders' equity
SEK 20.93bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 21.04bn | SEK 24.62bn | SEK 27.77bn | SEK 29.76bn | SEK 21.52bn | SEK 16.21bn | SEK 18.50bn | SEK 18.27bn | SEK 14.04bn | SEK 12.39bn |
| Gross profit | SEK 5.61bn | SEK 6.82bn | SEK 7.10bn | SEK 7.85bn | SEK 6.36bn | SEK 5.31bn | SEK 6.00bn | SEK 5.95bn | SEK 4.45bn | SEK 3.92bn |
| Research and development | SEK 572.0m | SEK 597.0m | SEK 594.0m | SEK 531.0m | SEK 412.0m | SEK 339.0m | SEK 388.0m | SEK 350.0m | SEK 309.0m | SEK 294.0m |
| Operating income | SEK 1.70bn | −SEK 971.0m | SEK 2.86bn | SEK 3.18bn | SEK 2.85bn | SEK 1.88bn | SEK 2.34bn | SEK 2.59bn | SEK 1.91bn | SEK 1.57bn |
| Net income | SEK 428.0m | −SEK 2.30bn | SEK 1.33bn | SEK 1.78bn | SEK 1.73bn | SEK 451.0m | SEK 1.32bn | SEK 1.58bn | SEK 1.50bn | SEK 1.36bn |
| Diluted earnings per share | 1.34 | -7.21 | 4.17 | 5.58 | 5.40 | 1.52 | 4.48 | 5.33 | 5.05 | 4.60 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 45.81bn | SEK 52.82bn | SEK 54.98bn | SEK 57.45bn | SEK 52.03bn | SEK 37.62bn | SEK 36.68bn | SEK 34.11bn | SEK 31.00bn | SEK 22.31bn |
| Cash and short-term investments | SEK 4.86bn | SEK 4.21bn | SEK 4.35bn | SEK 4.40bn | SEK 4.41bn | SEK 7.91bn | SEK 4.29bn | SEK 2.11bn | SEK 1.16bn | SEK 1.60bn |
| Total liabilities | SEK 24.88bn | SEK 27.45bn | SEK 29.07bn | SEK 31.04bn | SEK 29.58bn | SEK 21.41bn | SEK 19.32bn | SEK 18.08bn | SEK 16.49bn | SEK 8.33bn |
| Debt | SEK 16.49bn | SEK 17.62bn | SEK 18.44bn | SEK 19.73bn | SEK 17.21bn | SEK 14.20bn | SEK 12.93bn | SEK 11.61bn | SEK 10.54bn | SEK 4.78bn |
| Shareholders' equity | SEK 20.93bn | SEK 25.46bn | SEK 25.99bn | SEK 26.41bn | SEK 22.45bn | SEK 16.20bn | SEK 17.36bn | SEK 16.03bn | SEK 14.51bn | SEK 13.98bn |
| Shares outstanding | 320m | 320m | 320m | 320m | 320m | 296m | 296m | 296m | 296m | 296m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 2.11bn | SEK 3.87bn | SEK 4.85bn | SEK 1.87bn | SEK 1.15bn | SEK 2.06bn | SEK 3.55bn | SEK 2.73bn | SEK 1.93bn | SEK 1.41bn |
| Capital spending | −SEK 362.0m | −SEK 379.0m | −SEK 628.0m | −SEK 593.0m | −SEK 413.0m | −SEK 246.0m | −SEK 361.0m | −SEK 422.0m | −SEK 306.0m | −SEK 225.0m |
| Free cash flow | SEK 1.75bn | SEK 3.49bn | SEK 4.22bn | SEK 1.28bn | SEK 740.0m | SEK 1.81bn | SEK 3.19bn | SEK 2.30bn | SEK 1.62bn | SEK 1.19bn |
| Dividends paid | −SEK 415.0m | −SEK 607.0m | −SEK 415.0m | −SEK 783.0m | −SEK 680.0m | −SEK 680.0m | −SEK 636.0m | −SEK 606.0m | −SEK 547.0m | −SEK 547.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.97bn | SEK 5.24bn | SEK 4.06bn | SEK 4.88bn | SEK 6.27bn | SEK 5.83bn | SEK 4.79bn | SEK 5.65bn |
| Gross profit | SEK 1.67bn | SEK 1.55bn | SEK 765.0m | SEK 1.31bn | SEK 1.86bn | SEK 1.67bn | SEK 1.28bn | SEK 1.55bn |
| Operating income | SEK 608.0m | SEK 434.0m | SEK 122.0m | SEK 358.0m | SEK 743.0m | SEK 465.0m | −SEK 964.0m | −SEK 1.67bn |
| Net income | SEK 240.0m | SEK 170.0m | −SEK 214.0m | SEK 113.0m | SEK 348.0m | SEK 181.0m | −SEK 1.10bn | −SEK 1.92bn |
| Diluted earnings per share | 0.75 | 0.53 | -0.67 | 0.35 | 1.09 | 0.57 | -3.44 | -6.01 |
| Cash from operations | SEK 967.0m | SEK 83.0m | SEK 157.0m | SEK 698.0m | SEK 1.69bn | −SEK 68.0m | SEK 738.0m | SEK 1.14bn |
| Capital spending | −SEK 82.0m | −SEK 77.0m | −SEK 70.0m | −SEK 97.0m | −SEK 85.0m | −SEK 110.0m | −SEK 119.0m | −SEK 109.0m |
| Free cash flow | SEK 885.0m | SEK 6.0m | SEK 87.0m | SEK 601.0m | SEK 1.61bn | −SEK 178.0m | SEK 619.0m | SEK 1.03bn |
| Total assets | SEK 47.25bn | SEK 47.91bn | SEK 45.86bn | SEK 48.87bn | SEK 47.63bn | SEK 49.60bn | SEK 52.82bn | SEK 50.63bn |
| Cash and short-term investments | SEK 3.62bn | SEK 4.83bn | SEK 4.86bn | SEK 7.12bn | SEK 4.50bn | SEK 4.28bn | SEK 4.21bn | SEK 3.80bn |
| Debt | SEK 1.43bn | SEK 15.31bn | SEK 16.49bn | SEK 18.87bn | SEK 16.82bn | SEK 17.53bn | SEK 17.62bn | SEK 15.32bn |
| Shareholders' equity | SEK 22.96bn | SEK 22.18bn | SEK 20.93bn | SEK 21.77bn | SEK 21.89bn | SEK 23.01bn | SEK 25.46bn | SEK 24.75bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.7% | 27.7% | 25.6% | 26.4% | 29.6% | 32.7% |
| Operating margin | 9.1% | -3.9% | 10.4% | 10.2% | 13.0% | 11.2% |
| Net margin | 2.0% | -9.4% | 4.8% | 6.0% | 8.0% | 2.8% |
| Return on equity | 2.0% | -9.0% | 5.1% | 6.8% | 7.7% | 2.8% |
| Return on assets | 0.9% | -4.4% | 2.4% | 3.1% | 3.3% | 1.2% |
| Free cash flow yield | 40.4% | 69.3% | 89.4% | 40.2% | 25.5% | 40.6% |
| Revenue growth | -14.5% | -11.4% | -6.7% | 38.3% | 32.8% | -12.4% |
| Earnings growth | -118.6% | -272.9% | -25.3% | 3.4% | 282.7% | -66.0% |
| Current ratio | 1.40x | 1.58x | 2.33x | 1.60x | 2.53x | 2.42x |
| Debt to equity | 0.72x | 0.62x | 0.64x | 0.72x | 0.73x | 0.84x |
| Equity ratio | 45.7% | 48.2% | 47.3% | 46.0% | 43.1% | 43.1% |
| Interest coverage | 1.80x | -0.97x | 2.89x | 4.98x | 6.33x | 3.88x |
| R&D as a share of sales | 2.7% | 2.4% | 2.1% | 1.8% | 1.9% | 2.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | -8.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.9% | 5.4% | 6.2% |
| Operating income | -18.9% | -2.0% | 1.7% |
| Net income | -37.9% | -1.0% | -8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.2% | 26.5% | 27.7% | 29.1% |
| Operating margin | 1.6% | 6.6% | 8.2% | 9.9% |
| Net margin | -4.1% | 1.2% | 2.4% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 35.0 | -7.2 | 21.6 | 12.1 | 22.0 | 71.5 | 21.1 | 10.3 | 16.5 | 14.5 |
| Price to sales | 0.7 | 0.7 | 1.0 | 0.7 | 1.8 | 2.0 | 1.5 | 0.9 | 1.8 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 15 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.50 | 1.30 | 1.90 | 1.30 | 2.45 | 2.30 | 2.15 | 2.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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