I 
265.80
-0.52%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 32.23bn
FY2016FY2025
Net income
SEK 2.56bn
FY2016FY2025
Free cash flow
SEK 3.50bn
FY2016FY2025
Shareholders' equity
SEK 17.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 32.23bn | SEK 32.54bn | SEK 31.84bn | SEK 27.02bn | SEK 21.71bn | SEK 19.22bn | SEK 18.41bn | SEK 16.85bn | SEK 14.85bn | SEK 12.96bn |
| Gross profit | SEK 11.40bn | SEK 11.40bn | SEK 11.05bn | SEK 9.36bn | SEK 7.61bn | SEK 6.54bn | SEK 6.29bn | SEK 5.75bn | SEK 4.97bn | SEK 4.35bn |
| Research and development | SEK 378.0m | SEK 406.0m | SEK 395.0m | SEK 334.0m | SEK 258.0m | SEK 227.0m | SEK 217.0m | SEK 204.0m | SEK 178.0m | SEK 156.0m |
| Operating income | SEK 3.77bn | SEK 4.03bn | SEK 4.16bn | SEK 3.62bn | SEK 2.83bn | SEK 2.27bn | SEK 2.02bn | SEK 1.82bn | SEK 1.38bn | SEK 1.27bn |
| Net income | SEK 2.56bn | SEK 2.75bn | SEK 2.87bn | SEK 2.68bn | SEK 2.10bn | SEK 1.67bn | SEK 1.48bn | SEK 1.37bn | SEK 1.03bn | SEK 936.0m |
| Diluted earnings per share | 7.03 | 7.54 | 7.86 | 7.36 | 5.76 | 4.60 | 4.09 | 3.77 | 2.84 | 2.60 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 33.23bn | SEK 34.42bn | SEK 31.28bn | SEK 28.86bn | SEK 22.00bn | SEK 17.96bn | SEK 17.54bn | SEK 14.07bn | SEK 12.57bn | SEK 11.05bn |
| Cash and short-term investments | SEK 2.39bn | SEK 3.05bn | SEK 3.01bn | SEK 1.59bn | SEK 1.46bn | SEK 758.0m | SEK 719.0m | SEK 708.0m | SEK 464.0m | SEK 332.0m |
| Total liabilities | SEK 16.11bn | SEK 17.77bn | SEK 16.79bn | SEK 16.09bn | SEK 11.70bn | SEK 9.33bn | SEK 10.37bn | SEK 7.85bn | SEK 7.40bn | SEK 6.65bn |
| Debt | SEK 9.55bn | SEK 10.95bn | SEK 10.46bn | SEK 9.93bn | SEK 6.60bn | SEK 5.24bn | SEK 6.47bn | SEK 4.32bn | SEK 4.29bn | SEK 3.68bn |
| Shareholders' equity | SEK 17.11bn | SEK 16.64bn | SEK 14.47bn | SEK 12.76bn | SEK 10.29bn | SEK 8.62bn | SEK 7.16bn | SEK 6.21bn | SEK 5.15bn | SEK 4.39bn |
| Shares outstanding | 364m | 365m | 364m | 364m | 364m | 363m | 363m | 363m | 362m | 360m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 3.99bn | SEK 4.13bn | SEK 4.49bn | SEK 2.37bn | SEK 2.85bn | SEK 2.78bn | SEK 1.92bn | SEK 1.36bn | SEK 1.55bn | SEK 1.21bn |
| Capital spending | −SEK 490.0m | −SEK 485.0m | −SEK 560.0m | −SEK 547.0m | −SEK 374.0m | −SEK 427.0m | −SEK 423.0m | −SEK 321.0m | −SEK 251.0m | −SEK 334.0m |
| Free cash flow | SEK 3.50bn | SEK 3.65bn | SEK 3.93bn | SEK 1.82bn | SEK 2.48bn | SEK 2.35bn | SEK 1.50bn | SEK 1.04bn | SEK 1.30bn | SEK 873.0m |
| Dividends paid | −SEK 1.09bn | −SEK 1.04bn | −SEK 946.0m | −SEK 837.0m | −SEK 655.0m | −SEK 655.0m | −SEK 544.0m | −SEK 453.0m | −SEK 384.0m | −SEK 360.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 8.99bn | SEK 8.06bn | SEK 8.23bn | SEK 7.85bn | SEK 8.12bn | SEK 8.04bn | SEK 8.34bn | SEK 7.97bn |
| Gross profit | SEK 3.20bn | SEK 2.90bn | SEK 2.91bn | SEK 2.78bn | SEK 2.87bn | SEK 2.84bn | SEK 2.97bn | SEK 2.71bn |
| Operating income | SEK 1.13bn | SEK 891.0m | SEK 916.0m | SEK 976.0m | SEK 950.0m | SEK 927.0m | SEK 1.05bn | SEK 1.01bn |
| Net income | SEK 783.0m | SEK 599.0m | SEK 625.0m | SEK 674.0m | SEK 638.0m | SEK 623.0m | SEK 733.0m | SEK 700.0m |
| Diluted earnings per share | 2.15 | 1.64 | 1.72 | 1.85 | 1.75 | 1.71 | 2.01 | 1.92 |
| Cash from operations | SEK 882.0m | SEK 638.0m | SEK 1.59bn | SEK 1.02bn | SEK 735.0m | SEK 644.0m | SEK 1.60bn | SEK 1.02bn |
| Capital spending | −SEK 122.0m | −SEK 99.0m | −SEK 108.0m | −SEK 123.0m | −SEK 125.0m | −SEK 134.0m | −SEK 122.0m | −SEK 80.0m |
| Free cash flow | SEK 760.0m | SEK 539.0m | SEK 1.49bn | SEK 893.0m | SEK 610.0m | SEK 510.0m | SEK 1.48bn | SEK 939.0m |
| Total assets | SEK 36.46bn | SEK 35.06bn | SEK 33.23bn | SEK 33.41bn | SEK 32.91bn | SEK 33.76bn | SEK 34.42bn | SEK 32.78bn |
| Cash and short-term investments | SEK 1.36bn | SEK 2.02bn | SEK 2.39bn | SEK 1.89bn | SEK 1.57bn | SEK 3.07bn | SEK 3.05bn | SEK 1.55bn |
| Debt | SEK 4.12bn | SEK 2.25bn | SEK 9.95bn | SEK 9.99bn | SEK 10.11bn | SEK 10.79bn | SEK 10.79bn | SEK 2.68bn |
| Shareholders' equity | SEK 17.88bn | SEK 17.99bn | SEK 17.11bn | SEK 16.80bn | SEK 16.30bn | SEK 16.48bn | SEK 16.64bn | SEK 15.69bn |
Financial ratios
Data as of 10 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 35.4% | 35.0% | 34.7% | 34.7% | 35.0% | 34.0% |
| Operating margin | 11.7% | 12.4% | 13.1% | 13.4% | 13.0% | 11.8% |
| Net margin | 7.9% | 8.4% | 9.0% | 9.9% | 9.6% | 8.7% |
| Return on equity | 15.0% | 16.5% | 19.8% | 21.0% | 20.4% | 19.4% |
| Return on assets | 7.7% | 8.0% | 9.2% | 9.3% | 9.5% | 9.3% |
| Free cash flow yield | 5.0% | 5.1% | 5.6% | 3.2% | 3.6% | 3.6% |
| Revenue growth | -1.0% | 2.2% | 17.8% | 24.4% | 13.0% | 4.4% |
| Earnings growth | -6.9% | -4.0% | 6.8% | 28.0% | 25.5% | 12.6% |
| Current ratio | 1.98x | 1.97x | 1.99x | 1.83x | 1.86x | 1.86x |
| Debt to equity | 0.50x | 0.58x | 0.65x | 0.71x | 0.67x | 0.65x |
| Equity ratio | 51.5% | 48.3% | 46.3% | 44.2% | 46.8% | 48.0% |
| Interest coverage | 8.93x | 6.84x | 8.01x | 17.49x | 24.15x | 18.42x |
| R&D as a share of sales | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% |
| Buybacks as a share of market value | 0.1% | -0.1% | 0.0% | -0.2% | -0.3% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.1% | 10.9% | 10.5% |
| Operating income | 1.4% | 10.7% | 11.8% |
| Net income | -1.5% | 8.9% | 11.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.2% | 35.0% | 34.9% | 34.5% |
| Operating margin | 12.0% | 12.6% | 12.6% | 11.9% |
| Net margin | 8.2% | 8.8% | 8.9% | 8.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 33.8 | 36.8 | 33.3 | 28.7 | 48.1 | 38.6 | 27.3 | 18.2 | 26.2 | 23.5 |
| Price to sales | 2.7 | 3.1 | 3.0 | 2.9 | 4.6 | 3.4 | 2.2 | 1.5 | 1.8 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 2 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.10 | 3.00 | 2.85 | 2.60 | 2.30 | 1.80 | 1.50 | 1.25 |
- 3-for-1 split · 17 Dec 2020
- 3-for-1 split · 26 May 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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