H 
93.60
-0.37%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 19.32bn
FY2016FY2025
Net income
SEK 1.94bn
FY2016FY2025
Free cash flow
SEK 1.76bn
FY2016FY2025
Shareholders' equity
SEK 14.02bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 19.32bn | SEK 20.44bn | SEK 22.05bn | SEK 22.24bn | SEK 16.00bn | SEK 13.42bn | SEK 15.51bn | SEK 13.77bn | SEK 12.23bn | SEK 10.88bn |
| Gross profit | SEK 4.06bn | SEK 4.37bn | SEK 4.86bn | SEK 4.34bn | SEK 3.47bn | SEK 2.93bn | SEK 3.08bn | SEK 2.92bn | SEK 2.66bn | SEK 2.56bn |
| Research and development | SEK 148.0m | SEK 136.0m | SEK 152.0m | SEK 137.0m | SEK 111.0m | SEK 97.0m | SEK 105.0m | SEK 99.0m | SEK 91.0m | SEK 82.0m |
| Operating income | SEK 2.79bn | SEK 3.17bn | SEK 3.58bn | SEK 3.29bn | SEK 3.07bn | SEK 1.94bn | SEK 2.06bn | SEK 2.15bn | SEK 1.99bn | SEK 1.92bn |
| Net income | SEK 1.94bn | SEK 2.22bn | SEK 2.52bn | SEK 2.48bn | SEK 2.36bn | SEK 1.41bn | SEK 1.54bn | SEK 1.65bn | SEK 1.53bn | SEK 1.40bn |
| Diluted earnings per share | 5.64 | 6.45 | 7.33 | 7.21 | 6.85 | 4.09 | 4.48 | 4.78 | 4.44 | 4.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 22.96bn | SEK 24.88bn | SEK 22.51bn | SEK 23.55bn | SEK 17.96bn | SEK 15.07bn | SEK 17.43bn | SEK 14.46bn | SEK 10.35bn | SEK 9.85bn |
| Cash and short-term investments | SEK 1.15bn | SEK 1.23bn | SEK 1.10bn | SEK 1.54bn | SEK 1.32bn | SEK 1.20bn | SEK 1.62bn | SEK 1.16bn | SEK 813.0m | SEK 1.30bn |
| Total liabilities | SEK 8.94bn | SEK 8.94bn | SEK 7.93bn | SEK 9.79bn | SEK 6.31bn | SEK 5.94bn | SEK 7.67bn | SEK 5.86bn | SEK 3.34bn | SEK 2.29bn |
| Debt | SEK 4.33bn | SEK 3.47bn | SEK 2.68bn | SEK 4.39bn | SEK 4.05bn | SEK 2.80bn | SEK 4.00bn | SEK 2.31bn | SEK 840.0m | SEK 29.0m |
| Shareholders' equity | SEK 14.02bn | SEK 15.95bn | SEK 14.58bn | SEK 13.77bn | SEK 11.65bn | SEK 9.13bn | SEK 9.76bn | SEK 8.59bn | SEK 7.01bn | SEK 7.56bn |
| Shares outstanding | 344m | 344m | 344m | 344m | 344m | 344m | 344m | 344m | 344m | 344m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 2.32bn | SEK 2.70bn | SEK 3.52bn | SEK 2.59bn | SEK 2.41bn | SEK 2.38bn | SEK 2.36bn | SEK 1.81bn | SEK 1.70bn | SEK 1.71bn |
| Capital spending | −SEK 554.0m | −SEK 610.0m | −SEK 675.0m | −SEK 659.0m | −SEK 304.0m | −SEK 253.0m | −SEK 286.0m | −SEK 207.0m | −SEK 199.0m | −SEK 166.0m |
| Free cash flow | SEK 1.76bn | SEK 2.09bn | SEK 2.85bn | SEK 1.93bn | SEK 2.10bn | SEK 2.12bn | SEK 2.08bn | SEK 1.60bn | SEK 1.50bn | SEK 1.54bn |
| Dividends paid | −SEK 1.45bn | −SEK 2.07bn | −SEK 1.24bn | −SEK 2.07bn | −SEK 792.0m | −SEK 792.0m | −SEK 774.0m | −SEK 671.0m | −SEK 1.64bn | −SEK 585.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.28bn | SEK 4.77bn | SEK 4.25bn | SEK 4.69bn | SEK 5.00bn | SEK 5.38bn | SEK 4.69bn | SEK 4.98bn |
| Gross profit | SEK 1.15bn | SEK 1.03bn | SEK 833.0m | SEK 987.0m | SEK 1.09bn | SEK 1.16bn | SEK 900.0m | SEK 1.08bn |
| Operating income | SEK 728.0m | SEK 701.0m | SEK 508.0m | SEK 688.0m | SEK 756.0m | SEK 839.0m | SEK 556.0m | SEK 800.0m |
| Net income | SEK 517.0m | SEK 507.0m | SEK 339.0m | SEK 465.0m | SEK 537.0m | SEK 602.0m | SEK 353.0m | SEK 559.0m |
| Diluted earnings per share | 1.50 | 1.47 | 0.98 | 1.35 | 1.56 | 1.75 | 1.02 | 1.62 |
| Cash from operations | SEK 713.0m | SEK 429.0m | SEK 931.0m | SEK 732.0m | SEK 493.0m | SEK 162.0m | SEK 1.15bn | SEK 634.0m |
| Capital spending | −SEK 123.0m | −SEK 116.0m | −SEK 153.0m | −SEK 106.0m | −SEK 96.0m | −SEK 187.0m | −SEK 167.0m | −SEK 133.0m |
| Free cash flow | SEK 590.0m | SEK 313.0m | SEK 778.0m | SEK 626.0m | SEK 397.0m | −SEK 25.0m | SEK 983.0m | SEK 501.0m |
| Total assets | SEK 25.52bn | SEK 24.74bn | SEK 22.96bn | SEK 23.92bn | SEK 24.34bn | SEK 24.12bn | SEK 24.88bn | SEK 22.66bn |
| Cash and short-term investments | SEK 1.61bn | SEK 1.97bn | SEK 1.15bn | SEK 1.21bn | SEK 1.12bn | SEK 1.41bn | SEK 1.23bn | SEK 790.0m |
| Debt | SEK 5.03bn | SEK 4.46bn | SEK 4.33bn | SEK 5.10bn | SEK 5.60bn | SEK 3.76bn | SEK 3.47bn | SEK 3.38bn |
| Shareholders' equity | SEK 14.42bn | SEK 14.97bn | SEK 14.02bn | SEK 14.09bn | SEK 13.80bn | SEK 15.06bn | SEK 15.95bn | SEK 14.54bn |
Financial ratios
Data as of 24 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.0% | 21.4% | 22.0% | 19.5% | 21.7% | 21.8% |
| Operating margin | 14.4% | 15.5% | 16.2% | 14.8% | 19.2% | 14.4% |
| Net margin | 10.1% | 10.9% | 11.4% | 11.2% | 14.7% | 10.5% |
| Return on equity | 13.9% | 13.9% | 17.3% | 18.0% | 20.2% | 15.4% |
| Return on assets | 8.5% | 8.9% | 11.2% | 10.5% | 13.1% | 9.3% |
| Free cash flow yield | 8.6% | 10.0% | 12.6% | 9.8% | 8.2% | 7.9% |
| Revenue growth | -5.4% | -7.3% | -0.9% | 39.0% | 19.2% | -13.4% |
| Earnings growth | -12.5% | -12.0% | 1.7% | 5.3% | 67.4% | -8.6% |
| Current ratio | 0.87x | 0.93x | 1.08x | 1.12x | 1.08x | 1.63x |
| Debt to equity | 0.29x | 0.20x | 0.16x | 0.30x | 0.35x | 0.31x |
| Equity ratio | 61.1% | 64.1% | 64.8% | 58.5% | 64.9% | 60.6% |
| Interest coverage | 20.22x | 13.27x | 14.42x | 31.33x | 61.48x | 23.60x |
| R&D as a share of sales | 0.8% | 0.7% | 0.7% | 0.6% | 0.7% | 0.7% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | -0.0% | -0.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.6% | 7.6% | 5.6% |
| Operating income | -5.3% | 7.6% | 3.6% |
| Net income | -7.8% | 6.6% | 3.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.2% | 21.0% | 21.2% | 21.4% |
| Operating margin | 15.0% | 15.3% | 15.7% | 15.8% |
| Net margin | 10.5% | 10.9% | 11.4% | 11.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.6 | 15.9 | 16.6 | 15.4 | 17.7 | 21.5 | 20.5 | 14.7 | 18.7 | 20.8 |
| Price to sales | 1.6 | 1.7 | 1.9 | 1.7 | 2.6 | 2.3 | 2.0 | 1.8 | 2.3 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 5 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.20 | 4.20 | 2.00 | 3.60 | 3.00 | 2.30 | 2.30 | 2.25 |
- 10-for-1 split · 18 May 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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