M 
283.00
+1.51%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 7.94bn
FY2016FY2025
Net income
SEK 1.56bn
FY2016FY2025
Free cash flow
SEK 1.32bn
FY2016FY2025
Shareholders' equity
SEK 7.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 7.94bn | SEK 7.06bn | SEK 5.71bn | SEK 5.12bn | SEK 4.63bn | SEK 3.88bn | SEK 4.31bn | SEK 3.78bn | SEK 3.00bn | SEK 2.32bn |
| Gross profit | SEK 4.12bn | SEK 3.72bn | SEK 2.72bn | SEK 2.29bn | SEK 2.28bn | SEK 2.08bn | SEK 2.40bn | SEK 2.10bn | SEK 1.72bn | SEK 1.41bn |
| Research and development | SEK 930.0m | SEK 747.0m | SEK 593.0m | SEK 638.0m | SEK 548.0m | SEK 514.0m | SEK 559.0m | SEK 456.0m | SEK 348.0m | SEK 348.4m |
| Operating income | SEK 1.98bn | SEK 2.01bn | SEK 1.21bn | SEK 894.0m | SEK 1.05bn | SEK 904.0m | SEK 1.12bn | SEK 1.02bn | SEK 848.0m | SEK 691.0m |
| Net income | SEK 1.56bn | SEK 1.68bn | SEK 998.0m | SEK 741.0m | SEK 828.0m | SEK 694.0m | SEK 855.0m | SEK 789.5m | SEK 626.3m | SEK 526.3m |
| Diluted earnings per share | 7.99 | 17.23 | 10.22 | 7.59 | 8.48 | 7.10 | 8.73 | 8.06 | 6.40 | 5.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 10.92bn | SEK 10.41bn | SEK 8.34bn | SEK 7.34bn | SEK 6.14bn | SEK 5.32bn | SEK 4.80bn | SEK 4.20bn | SEK 3.24bn | SEK 2.76bn |
| Cash and short-term investments | SEK 2.32bn | SEK 3.01bn | SEK 2.14bn | SEK 1.27bn | SEK 683.0m | SEK 1.30bn | SEK 655.0m | SEK 828.6m | SEK 812.7m | SEK 208.6m |
| Total liabilities | SEK 3.81bn | SEK 3.84bn | SEK 3.06bn | SEK 2.64bn | SEK 2.14bn | SEK 1.94bn | SEK 1.82bn | SEK 1.82bn | SEK 1.44bn | SEK 1.34bn |
| Debt | SEK 348.0m | SEK 220.0m | SEK 228.0m | SEK 270.0m | SEK 243.0m | SEK 264.0m | SEK 318.0m | SEK 1.2m | SEK 12.6m | SEK 10.7m |
| Shareholders' equity | SEK 7.11bn | SEK 6.53bn | SEK 5.25bn | SEK 4.66bn | SEK 3.96bn | SEK 3.36bn | SEK 2.97bn | SEK 2.38bn | SEK 1.80bn | SEK 1.41bn |
| Shares outstanding | 195m | 98m | 98m | 98m | 98m | 98m | 98m | 98m | 98m | 98m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.41bn | SEK 1.87bn | SEK 1.61bn | SEK 853.0m | SEK 998.0m | SEK 1.13bn | SEK 545.0m | SEK 702.4m | SEK 983.8m | SEK 461.9m |
| Capital spending | −SEK 91.0m | −SEK 238.0m | −SEK 103.0m | −SEK 141.0m | −SEK 90.0m | −SEK 135.0m | −SEK 152.0m | −SEK 68.8m | −SEK 49.9m | −SEK 42.7m |
| Free cash flow | SEK 1.32bn | SEK 1.64bn | SEK 1.50bn | SEK 712.0m | SEK 908.0m | SEK 991.0m | SEK 393.0m | SEK 633.6m | SEK 933.9m | SEK 419.1m |
| Dividends paid | −SEK 734.0m | −SEK 441.0m | −SEK 342.0m | −SEK 294.0m | −SEK 294.0m | −SEK 196.0m | −SEK 294.0m | −SEK 244.8m | −SEK 195.8m | −SEK 391.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.42bn | SEK 2.50bn | SEK 2.02bn | SEK 1.71bn | SEK 2.07bn | SEK 2.14bn | SEK 2.06bn | SEK 1.78bn |
| Gross profit | SEK 1.36bn | SEK 1.51bn | SEK 910.0m | SEK 792.0m | SEK 1.10bn | SEK 1.31bn | SEK 1.00bn | SEK 958.0m |
| Operating income | SEK 740.0m | SEK 917.0m | SEK 256.0m | SEK 342.0m | SEK 575.0m | SEK 807.0m | SEK 526.0m | SEK 551.0m |
| Net income | SEK 527.0m | SEK 715.0m | SEK 277.0m | SEK 217.0m | SEK 446.0m | SEK 620.0m | SEK 459.0m | SEK 448.0m |
| Diluted earnings per share | 2.70 | 3.66 | 1.42 | 1.11 | 2.28 | 3.17 | 4.70 | 4.59 |
| Cash from operations | SEK 700.0m | SEK 611.0m | SEK 427.0m | SEK 312.0m | SEK 427.0m | SEK 241.0m | SEK 656.0m | SEK 98.0m |
| Capital spending | −SEK 700.0m | −SEK 39.0m | −SEK 427.0m | −SEK 312.0m | −SEK 427.0m | −SEK 241.0m | −SEK 657.0m | −SEK 22.0m |
| Free cash flow | SEK 0 | SEK 572.0m | SEK 0 | SEK 0 | SEK 0 | SEK 0 | −SEK 1.0m | SEK 76.0m |
| Total assets | SEK 12.30bn | SEK 11.94bn | SEK 10.92bn | SEK 10.61bn | SEK 10.35bn | SEK 10.53bn | SEK 10.41bn | SEK 9.38bn |
| Cash and short-term investments | SEK 2.69bn | SEK 2.72bn | SEK 2.32bn | SEK 2.00bn | SEK 1.80bn | SEK 2.99bn | SEK 3.01bn | SEK 2.53bn |
| Debt | SEK 135.0m | SEK 130.0m | SEK 348.0m | SEK 361.0m | SEK 197.0m | SEK 214.0m | SEK 219.0m | SEK 78.0m |
| Shareholders' equity | SEK 7.88bn | SEK 7.87bn | SEK 7.11bn | SEK 6.90bn | SEK 6.74bn | SEK 7.06bn | SEK 6.53bn | SEK 6.04bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 51.8% | 52.7% | 47.7% | 44.7% | 49.3% | 53.6% |
| Operating margin | 24.9% | 28.5% | 21.2% | 17.5% | 22.6% | 23.3% |
| Net margin | 19.7% | 23.8% | 17.5% | 14.5% | 17.9% | 17.9% |
| Return on equity | 21.9% | 25.8% | 19.0% | 15.9% | 20.9% | 20.6% |
| Return on assets | 14.3% | 16.2% | 12.0% | 10.1% | 13.5% | 13.0% |
| Free cash flow yield | 2.4% | 6.7% | 5.5% | 3.2% | 3.5% | 4.0% |
| Revenue growth | 12.5% | 23.7% | 11.5% | 10.4% | 19.4% | -9.9% |
| Earnings growth | -7.3% | 68.6% | 34.7% | -10.5% | 19.3% | -18.8% |
| Current ratio | 2.30x | 2.15x | 2.12x | 2.03x | 2.05x | 2.39x |
| Debt to equity | 0.02x | 0.01x | 0.01x | 0.02x | 0.06x | 0.08x |
| Equity ratio | 65.1% | 62.7% | 62.9% | 63.5% | 64.5% | 63.2% |
| Interest coverage | 25.71x | 134.20x | 92.85x | 68.77x | 74.93x | 64.57x |
| R&D as a share of sales | 11.7% | 10.6% | 10.4% | 12.5% | 11.8% | 13.2% |
| Buybacks as a share of market value | -100.0% | -0.0% | -0.0% | 0.0% | 0.1% | 0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.7% | 15.4% | 15.9% |
| Operating income | 30.3% | 17.0% | 13.9% |
| Net income | 28.2% | 17.6% | 13.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 52.2% | 49.7% | 50.1% | 52.3% |
| Operating margin | 26.6% | 23.6% | 23.4% | 24.8% |
| Net margin | 21.6% | 19.3% | 18.9% | 19.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 27.9 | 11.6 | 14.1 | 12.9 | 12.4 | 17.3 | 10.6 | 7.3 | 6.6 | 9.1 |
| Price to sales | 5.5 | 2.8 | 2.5 | 1.9 | 2.2 | 3.1 | 2.1 | 1.5 | 1.4 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.25 | 3.75 | 2.25 | 1.75 | 1.50 | 1.50 | 1.00 | 1.50 |
- 2-for-1 split · 3 Jun 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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