S 
190.50
+2.97%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 5.40bn
FY2016FY2025
Net income
SEK 4.05bn
FY2016FY2025
Free cash flow
SEK 3.57bn
FY2016FY2025
Shareholders' equity
SEK 42.62bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.40bn | SEK 5.06bn | SEK 4.32bn | SEK 3.73bn | SEK 3.12bn | SEK 2.91bn | SEK 2.58bn | SEK 2.25bn | SEK 1.87bn | SEK 1.56bn |
| Gross profit | SEK 4.44bn | SEK 4.19bn | SEK 3.55bn | SEK 3.46bn | SEK 2.90bn | SEK 2.71bn | SEK 2.41bn | SEK 2.10bn | SEK 1.75bn | SEK 1.45bn |
| Research and development | — | — | SEK 0 | SEK 1 | SEK 3 | SEK 1 | SEK 2 | SEK 2 | SEK 2 | SEK 2 |
| Operating income | SEK 5.26bn | SEK 4.00bn | SEK 1.18bn | SEK 2.88bn | SEK 2.57bn | SEK 2.84bn | SEK 2.60bn | SEK 2.35bn | SEK 2.00bn | SEK 1.73bn |
| Net income | SEK 4.05bn | SEK 5.25bn | −SEK 13.0m | SEK 2.72bn | SEK 9.81bn | SEK 3.71bn | SEK 4.11bn | SEK 3.17bn | SEK 2.96bn | SEK 2.45bn |
| Diluted earnings per share | 8.71 | 15.52 | -0.03 | 6.11 | 22.09 | 8.38 | 12.89 | 6.20 | 6.68 | 7.75 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 88.51bn | SEK 84.04bn | SEK 73.41bn | SEK 71.83bn | SEK 62.47bn | SEK 46.62bn | SEK 40.15bn | SEK 33.69bn | SEK 27.24bn | SEK 23.10bn |
| Cash and short-term investments | SEK 1.66bn | SEK 912.0m | SEK 780.0m | SEK 3.97bn | SEK 4.86bn | SEK 762.0m | SEK 491.0m | SEK 945.0m | SEK 502.0m | SEK 283.0m |
| Total liabilities | SEK 45.72bn | SEK 42.24bn | SEK 36.83bn | SEK 38.37bn | SEK 31.39bn | SEK 24.17bn | SEK 20.90bn | SEK 18.27bn | SEK 15.88bn | SEK 14.39bn |
| Debt | SEK 39.23bn | SEK 35.68bn | SEK 30.80bn | SEK 32.67bn | SEK 26.74bn | SEK 20.22bn | SEK 17.44bn | SEK 15.68bn | SEK 13.62bn | SEK 12.50bn |
| Shareholders' equity | SEK 42.62bn | SEK 40.94bn | SEK 36.58bn | SEK 33.46bn | SEK 31.08bn | SEK 22.45bn | SEK 19.26bn | SEK 15.42bn | SEK 11.36bn | SEK 8.71bn |
| Shares outstanding | 465m | 339m | 460m | 445m | 444m | 443m | 319m | 511m | 444m | 317m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 3.62bn | SEK 3.35bn | SEK 3.56bn | SEK 3.23bn | SEK 2.38bn | SEK 2.56bn | SEK 1.81bn | SEK 1.59bn | SEK 1.17bn | SEK 977.0m |
| Capital spending | −SEK 47.0m | −SEK 51.0m | −SEK 260.0m | −SEK 58.0m | −SEK 16.0m | −SEK 10.0m | −SEK 25.0m | −SEK 25.0m | −SEK 2.0m | −SEK 2.0m |
| Free cash flow | SEK 3.57bn | SEK 3.30bn | SEK 3.31bn | SEK 3.17bn | SEK 2.36bn | SEK 2.55bn | SEK 1.79bn | SEK 1.56bn | SEK 1.17bn | SEK 975.0m |
| Dividends paid | −SEK 1.44bn | −SEK 1.30bn | −SEK 1.11bn | −SEK 935.0m | −SEK 792.0m | −SEK 679.0m | −SEK 560.0m | −SEK 479.0m | −SEK 386.0m | −SEK 299.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.38bn | SEK 1.35bn | SEK 1.40bn | SEK 1.37bn | SEK 1.32bn | SEK 1.31bn | SEK 1.32bn | SEK 1.34bn |
| Gross profit | SEK 1.13bn | SEK 1.07bn | SEK 1.12bn | SEK 1.16bn | SEK 1.22bn | SEK 1.21bn | SEK 1.21bn | SEK 1.23bn |
| Operating income | SEK 1.08bn | SEK 1.02bn | SEK 1.07bn | SEK 1.11bn | SEK 1.06bn | SEK 1.06bn | −SEK 550.0m | SEK 1.13bn |
| Net income | SEK 1.31bn | SEK 1.38bn | SEK 1.80bn | SEK 895.0m | SEK 476.0m | SEK 878.0m | SEK 999.0m | SEK 2.20bn |
| Diluted earnings per share | 3.89 | 4.07 | 3.87 | 1.93 | 1.02 | 1.89 | 2.95 | 6.49 |
| Cash from operations | SEK 1.72bn | SEK 599.0m | SEK 996.0m | SEK 1.01bn | SEK 890.0m | SEK 722.0m | SEK 629.0m | SEK 1.27bn |
| Capital spending | −SEK 2.52bn | −SEK 60.0m | −SEK 996.0m | −SEK 44.0m | −SEK 18.0m | −SEK 2.0m | −SEK 610.0m | — |
| Free cash flow | −SEK 800.0m | SEK 539.0m | SEK 0 | SEK 966.0m | SEK 872.0m | SEK 720.0m | SEK 19.0m | — |
| Total assets | SEK 94.87bn | SEK 91.48bn | SEK 88.51bn | SEK 86.61bn | SEK 84.42bn | SEK 82.55bn | SEK 84.04bn | SEK 82.92bn |
| Cash and short-term investments | SEK 2.76bn | SEK 2.21bn | SEK 1.66bn | SEK 1.48bn | SEK 561.0m | SEK 751.0m | SEK 912.0m | SEK 4.85bn |
| Debt | SEK 41.73bn | SEK 39.81bn | SEK 39.23bn | SEK 38.77bn | SEK 36.62bn | SEK 34.14bn | SEK 35.68bn | SEK 35.34bn |
| Shareholders' equity | SEK 45.21bn | SEK 44.20bn | SEK 42.62bn | SEK 41.18bn | SEK 40.42bn | SEK 41.04bn | SEK 40.94bn | SEK 39.73bn |
Financial ratios
Data as of 15 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 82.2% | 82.8% | 82.2% | 92.9% | 92.8% | 93.1% | — | — |
| Operating margin | 97.3% | 79.1% | 27.5% | 77.4% | 82.4% | 97.7% | — | — |
| Net margin | 75.0% | 103.8% | -0.3% | 72.9% | 314.0% | 127.6% | — | — |
| Return on equity | 9.5% | 12.8% | -0.0% | 8.1% | 31.6% | 16.5% | — | — |
| Return on assets | 4.6% | 6.3% | -0.0% | 3.8% | 15.7% | 8.0% | — | — |
| Free cash flow yield | 4.8% | 6.1% | 5.0% | 4.5% | 3.3% | 3.5% | — | — |
| Revenue growth | 6.7% | 17.3% | 15.9% | 19.3% | 7.4% | 12.7% | — | — |
| Earnings growth | -22.9% | -40523.1% | -100.5% | -72.3% | 164.3% | -9.7% | — | — |
| Current ratio | 0.27x | 0.28x | 0.33x | 1.67x | 1.27x | 0.39x | — | — |
| Debt to equity | 0.91x | 0.86x | 0.83x | 0.97x | 0.85x | 0.88x | — | — |
| Equity ratio | 48.2% | 48.7% | 49.8% | 46.6% | 49.7% | 48.2% | — | — |
| Interest coverage | 4.93x | 4.22x | 1.64x | 6.43x | 6.21x | 6.96x | — | — |
| 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 | -37.3% | 26.4% | -3.4% | -0.2% | -0.2% | -38.9% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.2% | 13.2% | 15.4% |
| Operating income | 22.1% | 13.1% | 16.9% |
| Net income | 14.2% | 1.8% | 9.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 82.5% | 84.5% | 86.6% | 88.5% |
| Operating margin | 88.5% | 72.0% | 76.3% | 83.6% |
| Net margin | 88.9% | 64.9% | 104.0% | 117.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.5 | 14.5 | -9695.4 | 39.1 | 13.7 | 20.1 | 10.8 | 12.4 | 7.8 | 6.0 |
| Price to sales | 16.9 | 15.0 | 29.2 | 28.5 | 43.1 | 25.7 | 17.2 | 17.4 | 12.3 | 9.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 11 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.70 | 3.50 | 3.10 | 2.70 | 2.15 | 1.65 | 1.30 | 1.00 |
- 2-for-1 split · 31 May 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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