M 
554.50
-1.16%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 2.11bn
FY2016FY2025
Net income
SEK 219.8m
FY2016FY2025
Free cash flow
SEK 280.5m
FY2016FY2025
Shareholders' equity
SEK 1.45bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.11bn | SEK 1.81bn | SEK 1.59bn | SEK 1.11bn | SEK 916.3m | SEK 817.4m | SEK 757.1m | SEK 709.0m | SEK 411.2m | SEK 851.7m |
| Research and development | SEK 57.6m | SEK 44.2m | SEK 14.5m | SEK 34.0m | SEK 20.1m | SEK 19.9m | SEK 31.2m | SEK 29.0m | SEK 8.7m | — |
| Operating income | SEK 300.2m | SEK 272.3m | SEK 227.5m | SEK 170.9m | SEK 127.0m | SEK 89.1m | SEK 83.2m | SEK 47.8m | SEK 18.2m | −SEK 4.0m |
| Net income | SEK 219.8m | SEK 207.4m | SEK 172.2m | SEK 117.6m | SEK 96.5m | SEK 60.9m | SEK 53.7m | SEK 600,000 | SEK 2.1m | SEK 73,000 |
| Diluted earnings per share | 14.65 | 13.95 | 11.58 | 7.94 | 6.52 | 4.12 | 3.99 | 0.04 | 0.16 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 2.61bn | SEK 1.99bn | SEK 1.66bn | SEK 1.43bn | SEK 1.17bn | SEK 1.08bn | SEK 842.3m | SEK 668.9m | SEK 600.2m | SEK 563.2m |
| Cash and short-term investments | SEK 370.4m | SEK 370.1m | SEK 188.2m | SEK 236.2m | SEK 139.7m | SEK 146.5m | SEK 20.6m | SEK 56.6m | SEK 61.3m | SEK 42.6m |
| Total liabilities | SEK 1.15bn | SEK 703.2m | SEK 635.1m | SEK 570.6m | SEK 471.8m | SEK 479.3m | SEK 509.5m | SEK 395.1m | SEK 332.5m | SEK 270.9m |
| Debt | SEK 482.9m | SEK 358.0m | SEK 261.2m | SEK 340.0m | SEK 256.9m | SEK 263.8m | SEK 324.9m | SEK 159.7m | SEK 175.1m | SEK 138.2m |
| Shareholders' equity | SEK 1.45bn | SEK 1.28bn | SEK 1.02bn | SEK 856.3m | SEK 696.0m | SEK 595.7m | SEK 327.8m | SEK 271.3m | SEK 264.8m | SEK 270.9m |
| Shares outstanding | 15m | 15m | 15m | 15m | 15m | 15m | 13m | 13m | 13m | 13m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 342.7m | SEK 360.0m | SEK 228.0m | SEK 85.5m | SEK 116.3m | SEK 115.6m | SEK 71.4m | SEK 90.6m | SEK 27.3m | SEK 81.5m |
| Capital spending | −SEK 62.2m | −SEK 66.2m | −SEK 39.3m | −SEK 44.3m | −SEK 60.9m | −SEK 24.4m | −SEK 30.3m | −SEK 34.2m | −SEK 18.0m | −SEK 36.7m |
| Free cash flow | SEK 280.5m | SEK 293.8m | SEK 188.7m | SEK 41.2m | SEK 55.4m | SEK 91.2m | SEK 41.1m | SEK 56.4m | SEK 9.3m | SEK 44.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 606.3m | SEK 556.6m | SEK 591.0m | SEK 501.5m | SEK 521.7m | SEK 493.8m | SEK 474.2m | SEK 413.0m |
| Operating income | SEK 101.9m | SEK 79.2m | SEK 89.1m | SEK 71.4m | SEK 75.8m | SEK 66.6m | SEK 56.8m | SEK 65.7m |
| Net income | SEK 69.1m | SEK 55.9m | SEK 64.6m | SEK 51.2m | SEK 53.6m | SEK 50.5m | SEK 41.5m | SEK 52.9m |
| Diluted earnings per share | 4.61 | 3.73 | 4.31 | 3.41 | 3.57 | 3.37 | 2.79 | 3.56 |
| Cash from operations | SEK 122.0m | SEK 51.0m | SEK 151.0m | SEK 61.0m | SEK 73.0m | SEK 55.0m | SEK 126.0m | SEK 70.0m |
| Capital spending | −SEK 15.0m | −SEK 4.0m | −SEK 23.0m | −SEK 3.0m | −SEK 12.0m | −SEK 14.0m | −SEK 20.0m | −SEK 11.0m |
| Free cash flow | SEK 107.0m | SEK 47.0m | SEK 128.0m | SEK 58.0m | SEK 61.0m | SEK 41.0m | SEK 106.0m | SEK 59.0m |
| Total assets | SEK 2.78bn | SEK 2.70bn | SEK 2.61bn | SEK 2.48bn | SEK 2.09bn | SEK 2.03bn | SEK 1.99bn | SEK 1.89bn |
| Cash and short-term investments | SEK 286.3m | SEK 394.4m | SEK 370.4m | SEK 358.7m | SEK 335.1m | SEK 315.2m | SEK 370.1m | SEK 287.7m |
| Debt | SEK 249.7m | SEK 261.3m | SEK 482.9m | SEK 506.1m | SEK 335.1m | SEK 347.3m | SEK 358.0m | SEK 347.5m |
| Shareholders' equity | SEK 1.59bn | SEK 1.53bn | SEK 1.45bn | SEK 1.40bn | SEK 1.36bn | SEK 1.31bn | SEK 1.28bn | SEK 1.19bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.2% | 15.5% | 15.0% | 15.2% | 13.8% | 11.1% |
| Net margin | 10.4% | 11.5% | 10.8% | 10.6% | 10.5% | 7.5% |
| Return on equity | 15.1% | 16.2% | 16.8% | 13.7% | 13.9% | 10.2% |
| Return on assets | 8.4% | 10.4% | 10.4% | 8.2% | 8.3% | 5.6% |
| Free cash flow yield | 5.2% | 5.6% | 3.5% | 1.7% | 2.3% | 1.8% |
| Revenue growth | 16.7% | 13.8% | 42.8% | 21.3% | 12.1% | 8.0% |
| Earnings growth | 6.0% | 20.4% | 46.4% | 21.9% | 58.5% | 13.4% |
| Current ratio | 2.01x | 2.77x | 2.23x | 2.46x | 1.96x | 1.64x |
| Debt to equity | 0.18x | 0.09x | 0.14x | 0.25x | 0.16x | 0.25x |
| Equity ratio | 55.7% | 64.4% | 61.5% | 59.9% | 59.5% | 55.1% |
| Interest coverage | 10.17x | 14.77x | 15.25x | 10.27x | 13.45x | 9.96x |
| R&D as a share of sales | 2.7% | 2.4% | 0.9% | 3.1% | 2.2% | 2.4% |
| Buybacks as a share of market value | -1.0% | 0.0% | -0.4% | -0.0% | -0.0% | -10.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.8% | 20.9% | 9.9% |
| Operating income | 20.7% | 27.5% | 25.0% |
| Net income | 23.2% | 29.3% | 27.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 14.6% | 14.7% | 14.2% | 11.5% |
| Net margin | 10.9% | 10.8% | 10.5% | 8.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 37.1 | 43.1 | 29.1 | 27.3 | 27.3 | 55.9 | 34.8 | — | 287.2 | — |
| Price to sales | 3.9 | 4.9 | 3.2 | 2.9 | 2.9 | 4.2 | 2.5 | 1.5 | 1.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 27 Sept 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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