T 
24.02
+1.48%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 1.91bn
FY2018FY2025
Net income
SEK 388.6m
FY2018FY2025
Free cash flow
SEK 518.0m
FY2018FY2025
Shareholders' equity
SEK 1.25bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.91bn | SEK 2.43bn | SEK 1.73bn | SEK 1.77bn | SEK 1.13bn | SEK 491.2m | SEK 294.4m | SEK 183.9m |
| Research and development | — | SEK 19.0m | SEK 20.5m | SEK 21.5m | SEK 21.0m | — | — | — |
| Operating income | SEK 631.6m | SEK 632.1m | SEK 657.7m | SEK 688.5m | SEK 328.2m | −SEK 50.0m | −SEK 98.5m | −SEK 63.9m |
| Net income | SEK 388.6m | SEK 524.3m | SEK 536.3m | SEK 535.2m | SEK 258.3m | −SEK 15.5m | −SEK 97.1m | −SEK 65.4m |
| Diluted earnings per share | 1.14 | 1.53 | 1.52 | 1.44 | 0.68 | -0.07 | -0.30 | -0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 1.63bn | SEK 1.96bn | SEK 2.16bn | SEK 2.34bn | SEK 1.69bn | SEK 435.8m | SEK 275.0m | SEK 143.8m |
| Cash and short-term investments | SEK 979.5m | SEK 1.32bn | SEK 1.57bn | SEK 1.73bn | SEK 1.39bn | SEK 195.2m | SEK 108.8m | SEK 94.1m |
| Total liabilities | SEK 382.2m | SEK 449.0m | SEK 416.6m | SEK 540.3m | SEK 281.5m | SEK 289.9m | SEK 124.2m | SEK 67.9m |
| Debt | SEK 67.8m | SEK 100.1m | SEK 120.9m | SEK 141.5m | SEK 88.4m | SEK 101.0m | SEK 1.9m | SEK 9.6m |
| Shareholders' equity | SEK 1.25bn | SEK 1.51bn | SEK 1.74bn | SEK 1.80bn | SEK 1.41bn | SEK 145.9m | SEK 150.8m | SEK 75.9m |
| Shares outstanding | 342m | 343m | 353m | 372m | 378m | 217m | 328m | 328m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 521.4m | SEK 604.1m | SEK 582.0m | SEK 610.4m | SEK 380.9m | SEK 105.6m | −SEK 42.4m | −SEK 40.7m |
| Capital spending | −SEK 3.4m | −SEK 14.2m | −SEK 26.0m | −SEK 14.7m | −SEK 1.8m | −SEK 1.9m | −SEK 45,000 | — |
| Free cash flow | SEK 518.0m | SEK 589.9m | SEK 556.0m | SEK 595.7m | SEK 379.1m | SEK 103.7m | −SEK 42.4m | −SEK 40.7m |
| Dividends paid | −SEK 583.2m | −SEK 589.8m | — | −SEK 19.9m | — | −SEK 19.2m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 393.2m | SEK 361.6m | SEK 450.9m | SEK 467.9m | SEK 716.6m | SEK 741.8m | SEK 522.8m | SEK 457.3m |
| Operating income | SEK 73.5m | SEK 43.8m | SEK 84.2m | SEK 145.8m | SEK 157.0m | SEK 133.6m | SEK 187.9m | SEK 154.7m |
| Net income | SEK 51.7m | SEK 32.5m | SEK 60.4m | SEK 108.5m | SEK 118.0m | SEK 101.7m | SEK 150.4m | SEK 117.8m |
| Diluted earnings per share | 0.16 | 0.10 | 0.18 | 0.32 | 0.35 | 0.30 | 0.44 | 0.34 |
| Cash from operations | SEK 124.0m | SEK 88.0m | SEK 123.0m | SEK 25.0m | SEK 262.0m | SEK 109.0m | SEK 242.0m | SEK 121.0m |
| Capital spending | — | −SEK 8.0m | — | — | −SEK 10.0m | −SEK 9.0m | −SEK 6.0m | −SEK 1.0m |
| Free cash flow | — | SEK 80.0m | — | — | SEK 252.0m | SEK 100.0m | SEK 236.0m | SEK 120.0m |
| Total assets | SEK 1.48bn | SEK 1.55bn | SEK 1.63bn | SEK 1.70bn | SEK 1.71bn | SEK 2.06bn | SEK 1.96bn | SEK 1.74bn |
| Cash and short-term investments | SEK 853.2m | SEK 922.6m | SEK 979.5m | SEK 990.4m | SEK 1.04bn | SEK 1.40bn | SEK 1.32bn | SEK 1.11bn |
| Debt | SEK 33.9m | SEK 37.9m | SEK 21.4m | SEK 37.8m | SEK 43.7m | SEK 37.3m | SEK 25.8m | SEK 33.7m |
| Shareholders' equity | SEK 1.09bn | SEK 1.20bn | SEK 1.25bn | SEK 1.24bn | SEK 1.17bn | SEK 1.61bn | SEK 1.51bn | SEK 1.35bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 33.0% | 26.0% | 38.0% | 39.6% | 27.2% | -10.2% |
| Net margin | 20.3% | 21.6% | 31.0% | 30.2% | 22.9% | -3.2% |
| Return on equity | 31.1% | 34.8% | 30.8% | 29.7% | 18.3% | -10.6% |
| Return on assets | 23.8% | 26.8% | 24.8% | 22.8% | 15.3% | -3.6% |
| Free cash flow yield | 6.0% | 7.1% | 6.8% | 6.6% | 4.0% | 1.9% |
| Revenue growth | -21.4% | 40.7% | -2.5% | 57.1% | 129.8% | 66.8% |
| Earnings growth | -25.9% | -2.2% | 0.2% | 107.2% | -1764.2% | -84.0% |
| Current ratio | 4.86x | 5.30x | 7.04x | 5.63x | 8.41x | 1.52x |
| Debt to equity | 0.02x | 0.02x | 0.01x | 0.01x | 0.01x | -0.07x |
| Equity ratio | 76.6% | 77.0% | 80.7% | 77.0% | 83.4% | 33.5% |
| Interest coverage | 66.12x | 109.05x | 41.96x | 49.63x | 42.73x | -12.28x |
| R&D as a share of sales | — | 0.8% | 1.2% | 1.2% | 1.9% | — |
| Buybacks as a share of market value | 0.4% | 2.9% | 4.9% | 1.8% | -73.9% | 33.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.1% | 31.6% | — |
| Operating income | -2.8% | — | — |
| Net income | -10.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 29.1% | 33.3% | 30.5% | — |
| Net margin | 21.0% | 25.3% | 23.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 17.0 | 33.5 | 23.0 | 22.7 | 166.7 |
| Price to sales | 3.4 | 7.1 | 7.1 | 6.9 | 38.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 25 May 2026.
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Paid in the year | 0.28 | 1.33 | 1.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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