I 
1.98
-0.50%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 17.05bn
FY2016FY2025
Net income
−SEK 1.43bn
FY2016FY2025
Free cash flow
SEK 4.54bn
FY2016FY2025
Shareholders' equity
SEK 10.85bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 17.05bn | SEK 18.03bn | SEK 17.70bn | SEK 19.13bn | SEK 17.79bn | SEK 16.85bn | SEK 15.98bn | SEK 13.44bn | SEK 9.44bn | SEK 5.87bn |
| Gross profit | SEK 11.98bn | SEK 7.96bn | SEK 8.30bn | SEK 10.12bn | SEK 8.23bn | SEK 7.35bn | SEK 6.18bn | SEK 6.08bn | SEK 4.39bn | SEK 2.80bn |
| Research and development | — | SEK 292.0m | SEK 282.0m | SEK 260.0m | SEK 258.0m | SEK 0 | SEK 0 | SEK 0 | SEK 0 | SEK 0 |
| Operating income | SEK 4.44bn | SEK 1.94bn | SEK 2.78bn | SEK 62.0m | SEK 6.47bn | SEK 4.70bn | SEK 2.06bn | SEK 3.98bn | SEK 2.73bn | SEK 1.92bn |
| Net income | −SEK 1.43bn | −SEK 3.70bn | −SEK 187.0m | −SEK 4.47bn | SEK 3.13bn | SEK 1.88bn | −SEK 362.0m | SEK 1.94bn | SEK 1.50bn | SEK 1.46bn |
| Diluted earnings per share | -2.12 | -6.15 | -0.31 | -7.44 | 5.19 | 3.04 | -0.55 | 2.95 | 2.29 | 4.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 65.47bn | SEK 77.54bn | SEK 90.21bn | SEK 88.71bn | SEK 88.91bn | SEK 80.77bn | SEK 86.14bn | SEK 76.03bn | SEK 67.78bn | SEK 14.40bn |
| Cash and short-term investments | SEK 2.57bn | SEK 2.39bn | SEK 3.62bn | SEK 3.43bn | SEK 4.55bn | SEK 2.04bn | SEK 1.81bn | SEK 1.31bn | SEK 857.0m | SEK 378.0m |
| Total liabilities | SEK 52.69bn | SEK 62.07bn | SEK 71.28bn | SEK 67.51bn | SEK 64.22bn | SEK 58.80bn | SEK 61.24bn | SEK 50.36bn | SEK 45.34bn | SEK 10.27bn |
| Debt | SEK 43.99bn | SEK 51.41bn | SEK 60.48bn | SEK 57.23bn | SEK 53.31bn | SEK 49.57bn | SEK 51.54bn | SEK 43.21bn | SEK 38.03bn | SEK 7.48bn |
| Shareholders' equity | SEK 10.85bn | SEK 13.39bn | SEK 16.75bn | SEK 18.54bn | SEK 21.70bn | SEK 19.12bn | SEK 22.01bn | SEK 23.67bn | SEK 22.44bn | SEK 4.04bn |
| Shares outstanding | 673m | 601m | 601m | 601m | 603m | 618m | 654m | 655m | 656m | 361m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 4.57bn | SEK 4.42bn | SEK 2.39bn | SEK 6.51bn | SEK 10.04bn | SEK 8.72bn | SEK 6.39bn | SEK 6.15bn | SEK 4.54bn | SEK 3.37bn |
| Capital spending | −SEK 30.0m | −SEK 585.0m | −SEK 124.0m | −SEK 362.0m | −SEK 334.0m | −SEK 672.0m | −SEK 699.0m | −SEK 306.0m | −SEK 172.0m | −SEK 143.0m |
| Free cash flow | SEK 4.54bn | SEK 3.83bn | SEK 2.26bn | SEK 6.14bn | SEK 9.71bn | SEK 8.04bn | SEK 5.69bn | SEK 5.85bn | SEK 4.36bn | SEK 3.23bn |
| Dividends paid | — | — | −SEK 1.63bn | −SEK 1.76bn | −SEK 1.45bn | −SEK 1.33bn | −SEK 1.25bn | −SEK 1.25bn | −SEK 651.0m | −SEK 597.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 4.03bn | SEK 4.29bn | SEK 5.07bn | SEK 4.05bn | SEK 3.94bn | SEK 3.99bn | SEK 4.83bn | SEK 4.17bn |
| Gross profit | SEK 3.12bn | SEK 3.15bn | SEK 3.31bn | SEK 3.03bn | SEK 2.35bn | SEK 2.30bn | SEK 2.02bn | SEK 1.74bn |
| Operating income | SEK 1.03bn | SEK 1.37bn | SEK 1.43bn | SEK 700.0m | SEK 1.26bn | SEK 1.03bn | SEK 2.07bn | SEK 1.10bn |
| Net income | SEK 178.0m | −SEK 372.0m | −SEK 2.25bn | SEK 396.0m | SEK 324.0m | SEK 101.0m | −SEK 914.0m | −SEK 1.21bn |
| Diluted earnings per share | 0.26 | -0.55 | -3.34 | 0.59 | 0.48 | 0.15 | -1.52 | -2.01 |
| Cash from operations | SEK 540.0m | SEK 892.0m | SEK 1.36bn | −SEK 350.0m | SEK 2.25bn | SEK 1.65bn | SEK 1.28bn | SEK 939.0m |
| Capital spending | −SEK 6.0m | −SEK 6.0m | −SEK 17.0m | −SEK 1.0m | −SEK 83.0m | −SEK 65.0m | −SEK 319.0m | −SEK 105.0m |
| Free cash flow | SEK 534.0m | SEK 886.0m | SEK 1.35bn | −SEK 351.0m | SEK 2.17bn | SEK 1.58bn | SEK 958.0m | SEK 834.0m |
| Total assets | SEK 70.32bn | SEK 70.88bn | SEK 65.47bn | SEK 72.81bn | SEK 75.02bn | SEK 74.21bn | SEK 77.54bn | SEK 78.94bn |
| Cash and short-term investments | SEK 3.00bn | SEK 3.40bn | SEK 2.57bn | SEK 5.00bn | SEK 3.02bn | SEK 3.22bn | SEK 2.39bn | SEK 3.40bn |
| Debt | SEK 435.0m | SEK 46.47bn | SEK 43.99bn | SEK 47.28bn | SEK 48.76bn | SEK 49.41bn | SEK 51.41bn | SEK 52.41bn |
| Shareholders' equity | SEK 13.35bn | SEK 13.39bn | SEK 10.85bn | SEK 13.74bn | SEK 12.73bn | SEK 11.95bn | SEK 13.39bn | SEK 13.79bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 70.3% | 44.1% | 46.9% | 52.9% | 46.3% | 43.6% | — |
| Operating margin | 26.1% | 11.5% | 16.4% | -3.9% | 36.1% | 27.7% | — |
| Net margin | -8.4% | -20.5% | -1.1% | -23.4% | 17.6% | 11.2% | — |
| Return on equity | -13.2% | -27.6% | -1.1% | -24.1% | 14.4% | 9.8% | — |
| Return on assets | -2.2% | -4.8% | -0.2% | -5.0% | 3.5% | 2.3% | — |
| Free cash flow yield | 256.8% | 312.4% | 156.7% | 428.8% | 646.2% | 570.2% | — |
| Revenue growth | -5.5% | 1.9% | -7.5% | 7.5% | 5.6% | 5.4% | — |
| Earnings growth | -61.4% | 1877.0% | -95.8% | -243.0% | 66.2% | -619.6% | — |
| Current ratio | 1.18x | 0.45x | 0.66x | 0.69x | 0.74x | 0.69x | — |
| Debt to equity | 4.01x | 3.88x | 3.58x | 3.06x | 2.43x | 2.56x | — |
| Equity ratio | 16.6% | 17.3% | 18.6% | 20.9% | 24.4% | 23.7% | — |
| Interest coverage | 1.18x | 0.60x | 0.95x | -0.28x | 3.02x | 2.30x | — |
| R&D as a share of sales | — | 1.6% | 1.6% | 1.4% | 1.5% | 0.0% | 0.0% |
| Buybacks as a share of market value | -11.9% | 0.0% | 0.0% | 0.2% | 2.5% | 5.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.8% | 0.2% | 11.7% |
| Operating income | 315.3% | -1.1% | 10.6% |
| Net income | -31.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.8% | 53.3% | 50.6% | 48.4% |
| Operating margin | 18.2% | 12.8% | 19.1% | 20.8% |
| Net margin | -14.6% | -13.6% | -4.5% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -0.5 | -27.3 | -2.1 | 5.5 | 8.7 | -61.5 | 8.5 | 16.2 | 9.3 |
| Price to sales | 0.2 | 0.1 | 0.3 | 0.5 | 1.0 | 1.0 | 1.4 | 1.2 | 2.6 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 Oct 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.135 | 0.135 | 0.12 | 0.11 | 0.095 | 0.095 | 0.09 | 0.083 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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