K 
10.90
+1.11%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Net income
−SEK 76.2m
FY2016FY2025
Free cash flow
SEK 704.8m
FY2016FY2025
Shareholders' equity
SEK 5.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | — | SEK 0 | SEK 1 | SEK 1 | SEK 3 | SEK 2 | SEK 2 | SEK 3 | — |
| Operating income | SEK 622.4m | SEK 371.0m | SEK 287.7m | SEK 918.9m | SEK 1.35bn | SEK 684.2m | SEK 458.2m | SEK 41.7m | −SEK 79.3m | SEK 28.5m |
| Net income | −SEK 76.2m | SEK 74.8m | −SEK 398.1m | SEK 907.4m | SEK 1.04bn | SEK 474.5m | SEK 365.3m | SEK 244.8m | SEK 369.0m | SEK 176.2m |
| Diluted earnings per share | -0.31 | 0.30 | -1.66 | 4.21 | 4.85 | 2.28 | 1.86 | 1.25 | 1.50 | 0.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 26.81bn | SEK 17.47bn | SEK 16.81bn | SEK 15.27bn | SEK 11.48bn | SEK 7.66bn | SEK 5.35bn | SEK 3.35bn | SEK 2.21bn | SEK 1.38bn |
| Cash and short-term investments | SEK 143.1m | SEK 9.5m | SEK 5.8m | SEK 35.4m | SEK 94.0m | SEK 507.6m | SEK 779.0m | SEK 144.4m | SEK 96.8m | SEK 22.6m |
| Total liabilities | SEK 18.65bn | SEK 12.16bn | SEK 11.71bn | SEK 10.10bn | SEK 7.25bn | SEK 4.45bn | SEK 3.11bn | SEK 2.37bn | SEK 1.45bn | SEK 987.6m |
| Debt | SEK 15.68bn | SEK 10.32bn | SEK 10.12bn | SEK 8.46bn | SEK 5.94bn | SEK 3.85bn | SEK 2.64bn | SEK 1.99bn | SEK 1.10bn | SEK 778.7m |
| Shareholders' equity | SEK 5.06bn | SEK 5.21bn | SEK 5.05bn | SEK 5.15bn | SEK 4.23bn | SEK 3.21bn | SEK 2.24bn | SEK 981.2m | SEK 753.8m | SEK 395.8m |
| Shares outstanding | 246m | 246m | 239m | 215m | 215m | 208m | 197m | 197m | 246m | 246m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 721.5m | SEK 30.7m | SEK 203.6m | SEK 150.1m | SEK 325.3m | −SEK 64.4m | SEK 49.5m | SEK 40.5m | SEK 50.3m | SEK 20.1m |
| Capital spending | −SEK 16.7m | −SEK 1.40bn | −SEK 11.2m | −SEK 1.97bn | −SEK 1.38bn | −SEK 837.5m | −SEK 520.3m | −SEK 456.4m | −SEK 183.4m | −SEK 123.7m |
| Free cash flow | SEK 704.8m | −SEK 1.37bn | SEK 192.4m | −SEK 1.82bn | −SEK 1.05bn | −SEK 901.9m | −SEK 470.8m | −SEK 415.9m | −SEK 133.1m | −SEK 103.6m |
| Dividends paid | — | — | — | — | — | — | — | −SEK 7.6m | −SEK 4.0m | −SEK 265,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | SEK 158.2m | SEK 268.8m | SEK 136.7m | SEK 169.5m | SEK 180.6m | SEK 105.1m | SEK 84.7m | SEK 87.1m |
| Net income | SEK 15.4m | SEK 112.4m | −SEK 38.3m | SEK 16.6m | −SEK 56.7m | −SEK 5.3m | SEK 87.5m | −SEK 100.6m |
| Diluted earnings per share | 0.06 | 0.46 | -0.16 | 0.07 | -0.23 | -0.02 | 0.36 | -0.41 |
| Cash from operations | SEK 31.0m | SEK 117.0m | SEK 567.0m | SEK 34.0m | SEK 48.0m | SEK 71.0m | SEK 13.0m | −SEK 153.0m |
| Capital spending | −SEK 1.0m | −SEK 2.0m | −SEK 9.0m | −SEK 2.0m | −SEK 362.0m | −SEK 472.0m | −SEK 427.0m | −SEK 299.0m |
| Free cash flow | SEK 30.0m | SEK 115.0m | SEK 558.0m | SEK 32.0m | −SEK 314.0m | −SEK 401.0m | −SEK 414.0m | −SEK 452.0m |
| Total assets | SEK 24.90bn | SEK 25.11bn | SEK 26.81bn | SEK 26.93bn | SEK 26.21bn | SEK 17.89bn | SEK 17.47bn | SEK 16.97bn |
| Cash and short-term investments | SEK 144.2m | SEK 27.1m | SEK 143.1m | SEK 164.0m | SEK 87.5m | SEK 3.6m | SEK 9.5m | SEK 11.1m |
| Debt | SEK 14.38bn | SEK 14.58bn | SEK 15.68bn | SEK 15.88bn | SEK 15.29bn | SEK 10.63bn | SEK 10.32bn | SEK 9.91bn |
| Shareholders' equity | SEK 5.14bn | SEK 5.12bn | SEK 5.06bn | SEK 5.15bn | SEK 5.08bn | SEK 5.21bn | SEK 5.21bn | SEK 5.14bn |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 26.2% | 52.9% | 23.9% | 92.6% | 113.3% | 308.0% | — | — |
| Net margin | -4.0% | 6.5% | -36.4% | 65.5% | 84.1% | 221.6% | — | — |
| Return on equity | -1.5% | 1.4% | -7.9% | 17.6% | 24.7% | 14.8% | — | — |
| Return on assets | -0.3% | 0.4% | -2.4% | 5.9% | 9.1% | 6.2% | — | — |
| Free cash flow yield | 29.6% | 57.4% | 8.9% | 96.9% | 78.0% | 36.7% | — | — |
| Revenue growth | 65.0% | 5.4% | -21.0% | 11.5% | 480.1% | 15.5% | — | — |
| Earnings growth | -201.9% | -118.8% | -143.9% | -13.1% | 120.1% | 29.9% | — | — |
| Current ratio | 0.27x | 0.05x | 0.06x | 0.15x | 0.32x | 0.71x | — | — |
| Debt to equity | 3.08x | 1.98x | 2.01x | 1.64x | 1.40x | 1.20x | — | — |
| Equity ratio | 18.9% | 29.9% | 30.0% | 33.7% | 36.9% | 41.9% | — | — |
| Interest coverage | 1.06x | 1.42x | 0.76x | 9.39x | 18.62x | 13.74x | — | — |
| 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 | 0.0% | -2.8% | -11.1% | -0.0% | -3.6% | -5.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.2% | 54.8% | 30.7% |
| Operating income | -12.2% | -1.9% | 18.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 32.5% | 39.7% | 60.5% | 62.3% |
| Net margin | -0.0% | 9.2% | 29.0% | 42.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -41.7 | 56.0 | -14.4 | 5.6 | 17.9 | 19.5 | 14.4 |
| Price to sales | 1.7 | 3.6 | 5.2 | 3.7 | 15.1 | 43.1 | 28.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 6-for-1 split · 7 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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