S 
19.36
+0.41%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 2.69bn
FY2016FY2025
Net income
SEK 55.5m
FY2016FY2025
Free cash flow
SEK 275.6m
FY2016FY2025
Shareholders' equity
SEK 6.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 2.69bn | SEK 2.54bn | SEK 2.34bn | SEK 1.83bn | SEK 770.4m | SEK 239.9m | SEK 126.9m | SEK 99.1m | SEK 85.7m | SEK 54.2m |
| Gross profit | SEK 1.52bn | SEK 1.46bn | SEK 1.29bn | SEK 1.02bn | SEK 385.9m | SEK 157.3m | SEK 93.1m | SEK 73.5m | SEK 63.7m | SEK 42.5m |
| Research and development | — | — | SEK 14.6m | SEK 12.7m | SEK 9.4m | SEK 3.9m | — | — | — | — |
| Operating income | SEK 201.0m | SEK 225.0m | SEK 174.3m | SEK 160.2m | SEK 64.6m | SEK 60.4m | SEK 36.9m | SEK 29.4m | SEK 16.7m | SEK 11.3m |
| Net income | SEK 55.5m | SEK 98.9m | SEK 58.6m | SEK 94.5m | SEK 54.6m | SEK 48.5m | SEK 29.9m | SEK 23.3m | SEK 11.8m | SEK 9.8m |
| Diluted earnings per share | 0.35 | 0.62 | 0.37 | 0.60 | 0.51 | 0.56 | 0.38 | 0.30 | 0.15 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 9.51bn | SEK 10.32bn | SEK 9.52bn | SEK 10.00bn | SEK 3.47bn | SEK 1.15bn | SEK 149.4m | SEK 117.9m | SEK 94.7m | SEK 92.8m |
| Cash and short-term investments | SEK 103.0m | SEK 186.8m | SEK 237.3m | SEK 245.1m | SEK 136.1m | SEK 284.1m | SEK 45.7m | SEK 28.4m | SEK 24.1m | SEK 20.5m |
| Total liabilities | SEK 2.84bn | SEK 2.28bn | SEK 2.32bn | SEK 2.54bn | SEK 1.05bn | SEK 217.5m | SEK 18.1m | SEK 19.6m | SEK 25.6m | SEK 36.1m |
| Debt | SEK 1.80bn | SEK 1.47bn | SEK 1.66bn | SEK 1.90bn | SEK 721.5m | SEK 178.7m | SEK 1.5m | SEK 9.3m | SEK 17.0m | SEK 25.0m |
| Shareholders' equity | SEK 6.66bn | SEK 8.03bn | SEK 7.21bn | SEK 7.46bn | SEK 2.42bn | SEK 932.9m | SEK 131.3m | SEK 98.3m | SEK 69.0m | SEK 56.7m |
| Shares outstanding | 160m | 159m | 159m | 159m | 108m | 87m | 79m | 79m | 79m | 77m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 326.8m | SEK 359.1m | SEK 444.0m | SEK 260.2m | SEK 125.8m | SEK 36.5m | SEK 33.1m | SEK 22.0m | SEK 12.5m | SEK 1.9m |
| Capital spending | −SEK 51.2m | −SEK 71.3m | −SEK 36.1m | −SEK 74.7m | −SEK 27.8m | −SEK 977,000 | −SEK 5.1m | −SEK 9.4m | −SEK 980,000 | — |
| Free cash flow | SEK 275.6m | SEK 287.8m | SEK 407.9m | SEK 185.5m | SEK 98.1m | SEK 35.5m | SEK 28.0m | SEK 12.6m | SEK 11.5m | SEK 1.9m |
| Dividends paid | −SEK 40.0m | −SEK 36.5m | −SEK 34.9m | −SEK 31.6m | −SEK 16.9m | −SEK 11.1m | −SEK 11.1m | −SEK 11.1m | −SEK 11.1m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 672.5m | SEK 654.7m | SEK 684.7m | SEK 712.9m | SEK 648.8m | SEK 645.5m | SEK 665.0m | SEK 643.6m |
| Gross profit | SEK 411.4m | SEK 392.4m | SEK 390.2m | SEK 48.3m | SEK 358.4m | SEK 377.0m | SEK 387.4m | SEK 369.0m |
| Operating income | SEK 51.8m | SEK 52.4m | SEK 27.4m | SEK 48.3m | SEK 19.2m | SEK 45.2m | SEK 58.0m | SEK 54.4m |
| Net income | SEK 23.7m | SEK 17.7m | SEK 16.4m | SEK 22.2m | −SEK 6.9m | SEK 23.9m | SEK 23.8m | SEK 24.0m |
| Diluted earnings per share | 0.15 | 0.11 | 0.10 | 0.14 | -0.04 | 0.15 | 0.15 | 0.15 |
| Cash from operations | SEK 78.0m | SEK 65.0m | SEK 44.0m | SEK 152.0m | SEK 32.0m | SEK 96.0m | SEK 81.0m | SEK 125.0m |
| Capital spending | −SEK 24.0m | −SEK 12.0m | −SEK 13.0m | −SEK 14.0m | −SEK 9.0m | −SEK 12.0m | −SEK 13.0m | −SEK 9.0m |
| Free cash flow | SEK 54.0m | SEK 53.0m | SEK 31.0m | SEK 138.0m | SEK 23.0m | SEK 84.0m | SEK 68.0m | SEK 116.0m |
| Total assets | SEK 9.94bn | SEK 9.75bn | SEK 9.51bn | SEK 9.60bn | SEK 9.78bn | SEK 9.81bn | SEK 10.32bn | SEK 9.59bn |
| Cash and short-term investments | — | SEK 94.9m | SEK 103.0m | SEK 145.1m | SEK 124.0m | SEK 526.9m | SEK 186.8m | SEK 193.1m |
| Debt | SEK 1.71bn | SEK 1.76bn | SEK 1.80bn | SEK 1.73bn | SEK 1.81bn | SEK 1.74bn | SEK 1.51bn | SEK 1.53bn |
| Shareholders' equity | SEK 7.10bn | SEK 6.93bn | SEK 6.66bn | SEK 6.84bn | SEK 6.92bn | SEK 7.28bn | SEK 8.03bn | SEK 7.33bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 56.5% | 57.5% | 55.2% | 55.5% | 50.1% | 65.6% |
| Operating margin | 5.2% | 9.2% | 7.5% | 6.7% | 8.6% | 17.3% |
| Net margin | 2.1% | 3.9% | 2.5% | 5.2% | 7.1% | 20.2% |
| Return on equity | 0.8% | 1.2% | 0.8% | 1.3% | 2.3% | 5.2% |
| Return on assets | 0.6% | 1.0% | 0.6% | 0.9% | 1.6% | 4.2% |
| Free cash flow yield | 10.2% | 11.7% | 13.0% | 9.1% | 6.2% | 1.9% |
| Revenue growth | 6.1% | 8.6% | 27.8% | 137.5% | 221.1% | 89.1% |
| Earnings growth | -43.9% | 68.8% | -38.0% | 73.0% | 12.6% | 62.2% |
| Current ratio | 2.64x | 2.95x | 3.33x | 3.25x | 3.94x | 5.09x |
| Debt to equity | 0.27x | 0.18x | 0.21x | 0.23x | 0.26x | 0.17x |
| Equity ratio | 70.1% | 77.9% | 75.7% | 74.6% | 69.7% | 81.1% |
| Interest coverage | 1.88x | 2.84x | 1.88x | 3.04x | 7.32x | 24.42x |
| R&D as a share of sales | — | — | 0.6% | 0.7% | 1.2% | 1.6% |
| Buybacks as a share of market value | -0.6% | -0.1% | -0.1% | -47.3% | -23.5% | -10.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.8% | 62.2% | 50.2% |
| Operating income | 7.9% | 27.2% | 32.3% |
| Net income | -16.3% | 2.7% | 19.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.9% | 56.2% | 56.0% | 56.7% |
| Operating margin | 8.1% | 8.1% | 8.5% | 9.2% |
| Net margin | 2.9% | 3.3% | 3.9% | 4.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 110.6 | 77.5 | 165.1 | 51.6 | 303.2 | 116.7 | 48.8 | 31.0 | 35.3 | 39.1 |
| Price to sales | 2.3 | 3.0 | 4.1 | 2.7 | 21.5 | 23.6 | 11.5 | 7.3 | 4.9 | 7.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 24 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.28 | 0.25 | 0.23 | 0.22 | 0.20 | 0.16 | 0.14 |
- 5-for-1 split · 24 May 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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