N 
236.00
+2.39%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 2.27bn
FY2016FY2025
Net income
SEK 1.27bn
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
SEK 10.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.27bn | SEK 1.99bn | SEK 1.80bn | SEK 1.55bn | SEK 1.24bn | SEK 1.09bn | SEK 1.01bn | SEK 842.0m | SEK 677.0m | SEK 529.0m |
| Gross profit | SEK 1.73bn | SEK 1.51bn | SEK 1.35bn | SEK 1.15bn | SEK 913.0m | SEK 818.0m | SEK 717.0m | SEK 590.0m | SEK 476.0m | SEK 383.0m |
| Research and development | — | — | SEK 0 | SEK 1 | SEK 2 | SEK 1 | SEK 1 | SEK 1 | SEK 1 | SEK 1 |
| Operating income | SEK 1.64bn | SEK 1.43bn | SEK 1.28bn | SEK 1.09bn | SEK 912.0m | SEK 439.0m | SEK 335.0m | SEK 744.0m | SEK 307.0m | −SEK 21.0m |
| Net income | SEK 1.27bn | SEK 914.0m | −SEK 62.0m | SEK 1.22bn | SEK 2.02bn | SEK 659.0m | SEK 787.0m | SEK 464.0m | SEK 447.0m | SEK 407.0m |
| Diluted earnings per share | 20.71 | 14.85 | -1.08 | 22.41 | 37.08 | 12.13 | 14.48 | 8.54 | 8.23 | 7.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 27.54bn | SEK 24.60bn | SEK 21.89bn | SEK 21.85bn | SEK 18.72bn | SEK 13.35bn | SEK 11.94bn | SEK 10.68bn | SEK 7.96bn | SEK 6.41bn |
| Cash and short-term investments | SEK 433.0m | SEK 245.0m | SEK 696.0m | SEK 213.0m | SEK 272.0m | SEK 119.0m | SEK 208.0m | SEK 71.0m | SEK 150.0m | SEK 151.0m |
| Total liabilities | SEK 16.83bn | SEK 15.04bn | SEK 14.04bn | SEK 14.19bn | SEK 11.97bn | SEK 8.71bn | SEK 7.80bn | SEK 7.21bn | SEK 5.38bn | SEK 4.15bn |
| Debt | SEK 14.23bn | SEK 12.73bn | SEK 12.09bn | SEK 12.13bn | SEK 10.47bn | SEK 7.67bn | SEK 6.98bn | SEK 6.54bn | SEK 4.85bn | SEK 3.74bn |
| Shareholders' equity | SEK 10.67bn | SEK 9.44bn | SEK 7.82bn | SEK 7.62bn | SEK 6.70bn | SEK 4.63bn | SEK 4.13bn | SEK 3.46bn | SEK 2.58bn | SEK 2.27bn |
| Shares outstanding | 62m | 62m | 57m | 55m | 54m | 54m | 54m | 54m | 54m | 52m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.03bn | SEK 864.0m | SEK 563.0m | SEK 723.0m | SEK 571.0m | SEK 545.0m | SEK 422.0m | SEK 276.0m | SEK 350.0m | SEK 26.0m |
| Capital spending | −SEK 1.03bn | — | — | — | −SEK 318.0m | −SEK 195.0m | −SEK 183.0m | −SEK 229.0m | −SEK 137.0m | −SEK 134.0m |
| Free cash flow | — | SEK 864.0m | SEK 563.0m | SEK 723.0m | SEK 253.0m | SEK 350.0m | SEK 239.0m | SEK 47.0m | SEK 213.0m | −SEK 108.0m |
| Dividends paid | −SEK 370.0m | −SEK 208.0m | −SEK 276.0m | −SEK 310.0m | −SEK 260.0m | −SEK 225.0m | −SEK 199.0m | −SEK 163.0m | −SEK 130.0m | −SEK 108.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 621.0m | SEK 606.0m | SEK 588.0m | SEK 572.0m | SEK 564.0m | SEK 551.0m | SEK 523.0m | SEK 491.0m |
| Gross profit | SEK 490.0m | SEK 423.0m | SEK 432.0m | SEK 467.0m | SEK 443.0m | SEK 383.0m | SEK 398.0m | SEK 405.0m |
| Operating income | SEK 465.0m | SEK 398.0m | SEK 404.0m | SEK 449.0m | SEK 418.0m | SEK 363.0m | SEK 373.0m | SEK 404.0m |
| Net income | SEK 354.0m | SEK 372.0m | SEK 464.0m | SEK 339.0m | SEK 203.0m | SEK 272.0m | SEK 365.0m | SEK 109.0m |
| Diluted earnings per share | 5.28 | 5.54 | 7.54 | 5.51 | 3.30 | 4.42 | 5.93 | 1.77 |
| Cash from operations | SEK 191.0m | SEK 182.0m | SEK 439.0m | SEK 205.0m | SEK 236.0m | SEK 147.0m | SEK 126.0m | SEK 257.0m |
| Capital spending | −SEK 367.0m | −SEK 209.0m | −SEK 439.0m | — | −SEK 131.0m | −SEK 110.0m | — | −SEK 147.0m |
| Free cash flow | −SEK 176.0m | −SEK 27.0m | SEK 0 | — | SEK 105.0m | SEK 37.0m | — | SEK 110.0m |
| Total assets | SEK 30.35bn | SEK 28.35bn | SEK 27.54bn | SEK 26.41bn | SEK 25.87bn | SEK 25.22bn | SEK 24.60bn | SEK 22.48bn |
| Cash and short-term investments | SEK 284.0m | SEK 426.0m | SEK 291.0m | SEK 373.0m | SEK 197.0m | SEK 313.0m | SEK 245.0m | SEK 287.0m |
| Debt | SEK 15.83bn | SEK 14.48bn | SEK 14.23bn | SEK 13.62bn | SEK 13.25bn | SEK 13.13bn | SEK 12.73bn | SEK 11.15bn |
| Shareholders' equity | SEK 11.27bn | SEK 11.08bn | SEK 10.67bn | SEK 10.21bn | SEK 9.87bn | SEK 9.71bn | SEK 9.44bn | SEK 8.96bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 75.9% | 75.8% | 75.3% | 74.1% | 73.7% | 75.0% | — | — | — |
| Operating margin | 71.9% | 71.6% | 71.2% | 70.0% | 73.7% | 40.2% | — | — | — |
| Net margin | 56.1% | 45.9% | -3.5% | 78.9% | 162.9% | 60.4% | — | — | — |
| Return on equity | 11.9% | 9.7% | -0.8% | 16.1% | 30.1% | 14.2% | — | — | — |
| Return on assets | 4.6% | 3.7% | -0.3% | 5.6% | 10.8% | 4.9% | — | — | — |
| Free cash flow yield | 15.0% | — | — | — | 7.3% | 6.1% | 5.0% | 4.2% | 4.0% |
| Revenue growth | 14.2% | 10.9% | 15.9% | 25.3% | 13.5% | 8.4% | — | — | — |
| Earnings growth | 39.5% | -1574.2% | -105.1% | -39.3% | 206.1% | -16.3% | — | — | — |
| Current ratio | 0.33x | 0.18x | 0.38x | 0.30x | 0.17x | 0.34x | — | — | — |
| Debt to equity | 1.32x | 1.33x | 1.53x | 1.61x | 1.55x | 1.64x | — | — | — |
| Equity ratio | 38.7% | 38.4% | 35.7% | 34.9% | 35.8% | 34.7% | — | — | — |
| Interest coverage | 2.81x | 2.38x | 2.07x | 3.05x | 3.83x | 2.08x | — | — | — |
| 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% | -7.1% | -5.3% | -0.4% | -0.1% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.6% | 15.8% | 18.7% |
| Operating income | 14.6% | 30.1% | 18.4% |
| Net income | 1.4% | 14.1% | 21.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 75.9% | 75.4% | 75.1% | 74.1% |
| Operating margin | 71.8% | 71.3% | 68.2% | 63.0% |
| Net margin | 51.3% | 44.0% | 60.6% | 62.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.5 | 16.8 | -216.1 | 8.9 | 9.8 | 10.0 | 7.8 | 7.1 | 6.3 | 5.8 |
| Price to sales | 7.0 | 7.7 | 7.5 | 7.0 | 15.9 | 6.0 | 6.1 | 3.9 | 4.2 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 30 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.20 | 5.20 | 1.50 | 5.00 | 4.30 | 3.60 | 3.40 | 3.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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