51.90
+1.96%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 9.46bn
FY2016FY2025
Net income
SEK 777.0m
FY2016FY2025
Free cash flow
SEK 278.0m
FY2016FY2025
Shareholders' equity
SEK 5.53bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 9.46bn | SEK 9.66bn | SEK 9.55bn | SEK 10.77bn | SEK 11.61bn | SEK 9.36bn | SEK 7.92bn | SEK 8.10bn | SEK 6.72bn | SEK 4.45bn |
| Gross profit | SEK 1.73bn | SEK 1.61bn | SEK 1.34bn | SEK 1.43bn | SEK 1.82bn | SEK 1.51bn | SEK 1.25bn | SEK 1.26bn | SEK 1.08bn | SEK 714.0m |
| Research and development | SEK 554.0m | SEK 583.0m | SEK 546.0m | SEK 676.0m | SEK 751.0m | SEK 562.0m | SEK 478.0m | SEK 604.0m | SEK 495.0m | SEK 392.0m |
| Operating income | SEK 1.02bn | SEK 913.0m | SEK 657.0m | SEK 867.0m | SEK 1.33bn | SEK 1.05bn | SEK 887.0m | SEK 941.0m | SEK 749.0m | SEK 443.0m |
| Net income | SEK 777.0m | SEK 658.0m | SEK 435.0m | SEK 697.0m | SEK 1.16bn | SEK 806.0m | SEK 703.0m | SEK 722.0m | SEK 572.0m | SEK 336.0m |
| Diluted earnings per share | 2.88 | 2.44 | 1.61 | 2.59 | 4.31 | 3.02 | 2.65 | 2.74 | 2.17 | 1.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 9.28bn | SEK 9.69bn | SEK 9.30bn | SEK 10.01bn | SEK 10.05bn | SEK 8.68bn | SEK 6.13bn | SEK 5.16bn | SEK 4.75bn | SEK 3.92bn |
| Cash and short-term investments | SEK 482.0m | SEK 672.0m | SEK 688.0m | SEK 1.01bn | SEK 1.45bn | SEK 1.49bn | SEK 1.36bn | SEK 953.0m | SEK 669.0m | SEK 411.0m |
| Total liabilities | SEK 3.75bn | SEK 3.95bn | SEK 4.13bn | SEK 4.62bn | SEK 5.29bn | SEK 4.99bn | SEK 3.17bn | SEK 2.56bn | SEK 2.59bn | SEK 2.07bn |
| Debt | SEK 1.45bn | SEK 1.53bn | SEK 1.88bn | SEK 1.93bn | SEK 1.75bn | SEK 2.13bn | SEK 973.0m | SEK 612.0m | SEK 638.0m | SEK 617.0m |
| Shareholders' equity | SEK 5.53bn | SEK 5.74bn | SEK 5.17bn | SEK 5.39bn | SEK 4.77bn | SEK 3.70bn | SEK 2.97bn | SEK 2.59bn | SEK 2.16bn | SEK 1.85bn |
| Shares outstanding | 269m | 269m | 269m | 269m | 269m | 267m | 265m | 263m | 263m | 263m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.06bn | SEK 1.38bn | SEK 781.0m | SEK 406.0m | SEK 1.23bn | SEK 1.16bn | SEK 1.16bn | SEK 1.04bn | SEK 773.0m | SEK 466.0m |
| Capital spending | −SEK 784.0m | −SEK 635.0m | −SEK 426.0m | −SEK 455.0m | −SEK 782.0m | −SEK 373.0m | −SEK 360.0m | −SEK 454.0m | −SEK 279.0m | −SEK 223.0m |
| Free cash flow | SEK 278.0m | SEK 742.0m | SEK 355.0m | −SEK 49.0m | SEK 446.0m | SEK 791.0m | SEK 800.0m | SEK 591.0m | SEK 494.0m | SEK 243.0m |
| Dividends paid | −SEK 404.0m | −SEK 404.0m | −SEK 512.0m | −SEK 512.0m | −SEK 428.0m | −SEK 428.0m | −SEK 368.0m | −SEK 329.0m | −SEK 276.0m | −SEK 263.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.45bn | SEK 2.36bn | SEK 2.27bn | SEK 2.34bn | SEK 2.40bn | SEK 2.45bn | SEK 2.38bn | SEK 2.40bn |
| Gross profit | SEK 439.0m | SEK 432.0m | SEK 416.0m | SEK 417.0m | SEK 447.0m | SEK 450.0m | SEK 395.0m | SEK 402.0m |
| Operating income | SEK 237.0m | SEK 247.0m | SEK 215.0m | SEK 234.0m | SEK 267.0m | SEK 260.0m | SEK 228.0m | SEK 224.0m |
| Net income | SEK 169.0m | SEK 181.0m | SEK 151.0m | SEK 215.0m | SEK 212.0m | SEK 199.0m | SEK 163.0m | SEK 164.0m |
| Diluted earnings per share | 0.63 | 0.67 | 0.56 | 0.80 | 0.79 | 0.74 | 0.61 | 0.61 |
| Cash from operations | SEK 287.0m | SEK 225.0m | SEK 310.0m | SEK 301.0m | SEK 316.0m | SEK 135.0m | SEK 480.0m | SEK 327.0m |
| Capital spending | −SEK 287.0m | −SEK 225.0m | −SEK 442.0m | −SEK 301.0m | — | — | −SEK 635.0m | — |
| Free cash flow | SEK 0 | SEK 0 | −SEK 132.0m | SEK 0 | — | — | −SEK 155.0m | — |
| Total assets | SEK 10.04bn | SEK 9.75bn | SEK 9.28bn | SEK 9.33bn | SEK 9.32bn | SEK 9.41bn | SEK 9.69bn | SEK 9.48bn |
| Cash and short-term investments | SEK 482.0m | SEK 452.0m | SEK 482.0m | SEK 531.0m | SEK 476.0m | SEK 568.0m | SEK 672.0m | SEK 718.0m |
| Debt | SEK 532.0m | SEK 359.0m | SEK 1.22bn | — | — | — | SEK 1.53bn | SEK 108.0m |
| Shareholders' equity | SEK 5.67bn | SEK 5.85bn | SEK 5.53bn | SEK 5.46bn | SEK 5.30bn | SEK 5.56bn | SEK 5.74bn | SEK 5.32bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.3% | 16.7% | 14.0% | 13.3% | 15.7% | 16.1% |
| Operating margin | 10.7% | 9.4% | 6.9% | 8.0% | 11.5% | 11.2% |
| Net margin | 8.2% | 6.8% | 4.6% | 6.5% | 10.0% | 8.6% |
| Return on equity | 14.0% | 11.5% | 8.4% | 12.9% | 24.3% | 21.8% |
| Return on assets | 8.4% | 6.8% | 4.7% | 7.0% | 11.5% | 9.3% |
| Free cash flow yield | 12.5% | 13.6% | 8.2% | 5.8% | 13.6% | 10.5% |
| Revenue growth | -2.1% | 1.2% | -11.4% | -7.2% | 24.1% | 18.2% |
| Earnings growth | 18.1% | 51.3% | -37.6% | -39.9% | 43.9% | 14.7% |
| Current ratio | 1.73x | 2.00x | 2.06x | 1.80x | 1.57x | 1.30x |
| Debt to equity | 0.23x | 0.24x | 0.32x | 0.31x | 0.29x | 0.43x |
| Equity ratio | 59.6% | 59.2% | 55.6% | 53.9% | 47.4% | 42.6% |
| Interest coverage | 18.83x | 13.23x | 9.39x | 15.48x | 31.74x | 27.58x |
| R&D as a share of sales | 5.9% | 6.0% | 5.7% | 6.3% | 6.5% | 6.0% |
| Buybacks as a share of market value | -0.0% | 0.0% | 0.0% | 0.0% | -1.0% | -0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.2% | 0.2% | 7.2% |
| Operating income | 5.5% | -0.6% | 6.2% |
| Net income | 3.7% | -0.7% | 6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.5% | 15.5% | 15.6% | 15.8% |
| Operating margin | 10.1% | 8.8% | 9.7% | 10.2% |
| Net margin | 7.5% | 6.5% | 7.5% | 7.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.3 | 22.2 | 32.8 | 21.1 | 25.1 | 27.5 | 20.7 | 13.3 | 24.8 | 20.6 |
| Price to sales | 1.8 | 1.5 | 1.5 | 1.4 | 2.5 | 2.4 | 1.8 | 1.2 | 2.1 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.70 | 1.50 | 1.50 | 1.90 | 1.90 | 1.60 | 1.40 | 1.25 |
- 10-for-1 split · 12 May 2021
- 2-for-1 split · 20 May 1998
- 5-for-1 split · 2 Jun 1994
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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