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V

VBG Group AB (publ) VBG B.ST · SEK

Industrials · Nasdaq Stockholm · 🇸🇪 Sweden

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291.00

+1.22%

Close of 9 Nov 2026, in SEK

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At a glance

Figures in SEK, from our data supplier.

FY2025

Revenue

SEK 5.39bn

FY2016FY2025

Net income

SEK 422.1m

FY2016FY2025

Free cash flow

SEK 223.5m

FY2016FY2025

Shareholders' equity

SEK 3.97bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueSEK 5.39bnSEK 5.58bnSEK 5.74bnSEK 4.58bnSEK 3.61bnSEK 3.15bnSEK 3.73bnSEK 3.49bnSEK 3.00bnSEK 1.54bn
Gross profitSEK 1.69bnSEK 1.81bnSEK 1.76bnSEK 1.41bnSEK 1.16bnSEK 1.06bnSEK 1.25bnSEK 1.19bnSEK 1.07bnSEK 625.9m
Research and developmentSEK 147.5mSEK 162.9mSEK 138.0mSEK 134.4mSEK 110.0mSEK 113.6mSEK 136.7mSEK 136.4mSEK 106.4mSEK 46.8m
Operating incomeSEK 634.1mSEK 795.9mSEK 824.9mSEK 527.2mSEK 456.0mSEK 353.4mSEK 435.0mSEK 417.6mSEK 351.1mSEK 184.0m
Net incomeSEK 422.1mSEK 588.2mSEK 568.6mSEK 368.3mSEK 337.1mSEK 226.7mSEK 299.5mSEK 273.0mSEK 220.5mSEK 120.8m
Diluted earnings per share16.9023.5422.7414.7313.489.0711.9810.928.826.69

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsSEK 7.08bnSEK 6.44bnSEK 5.96bnSEK 5.41bnSEK 4.66bnSEK 4.26bnSEK 4.20bnSEK 3.92bnSEK 3.66bnSEK 3.46bn
Cash and short-term investmentsSEK 1.11bnSEK 963.7mSEK 897.7mSEK 498.8mSEK 667.4mSEK 899.5mSEK 472.5mSEK 371.4mSEK 321.4mSEK 276.4m
Total liabilitiesSEK 3.11bnSEK 2.39bnSEK 2.29bnSEK 2.12bnSEK 1.87bnSEK 1.76bnSEK 1.77bnSEK 1.70bnSEK 1.66bnSEK 2.44bn
DebtSEK 1.75bnSEK 1.15bnSEK 1.02bnSEK 1.02bnSEK 870.9mSEK 934.7mSEK 897.6mSEK 824.6mSEK 878.0mSEK 1.79bn
Shareholders' equitySEK 3.97bnSEK 4.03bnSEK 3.67bnSEK 3.29bnSEK 2.79bnSEK 2.50bnSEK 2.43bnSEK 2.23bnSEK 2.00bnSEK 1.03bn
Shares outstanding25m25m25m25m25m25m25m25m25m18m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsSEK 531.0mSEK 796.4mSEK 722.8mSEK 312.6mSEK 187.3mSEK 446.2mSEK 438.9mSEK 253.6mSEK 243.7mSEK 251.0m
Capital spending−SEK 307.5m−SEK 591.9m−SEK 111.5m−SEK 118.1m−SEK 62.1m−SEK 46.3m−SEK 106.0m−SEK 47.2m−SEK 60.3m−SEK 31.3m
Free cash flowSEK 223.5mSEK 204.5mSEK 611.3mSEK 194.5mSEK 125.2mSEK 399.9mSEK 332.9mSEK 206.3mSEK 183.5mSEK 219.7m
Dividends paid−SEK 181.3m−SEK 175.0m−SEK 137.5m−SEK 125.0m−SEK 112.5m−SEK 112.5m−SEK 112.5m−SEK 81.3m−SEK 43.8m−SEK 40.6m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueSEK 1.48bnSEK 1.38bnSEK 1.31bnSEK 1.37bnSEK 1.36bnSEK 1.35bnSEK 1.28bnSEK 1.27bn
Gross profitSEK 429.3mSEK 445.6mSEK 395.2mSEK 427.9mSEK 438.5mSEK 435.3mSEK 417.5mSEK 401.2m
Operating incomeSEK 130.2mSEK 161.8mSEK 139.0mSEK 156.5mSEK 167.1mSEK 165.8mSEK 189.9mSEK 164.1m
Net incomeSEK 89.6mSEK 113.2mSEK 110.9mSEK 96.7mSEK 100.0mSEK 114.5mSEK 112.2mSEK 112.3m
Diluted earnings per share3.584.534.443.874.004.584.494.49
Cash from operationsSEK 7.0mSEK 92.0mSEK 283.0mSEK 135.0mSEK 83.0mSEK 27.0mSEK 294.0mSEK 153.0m
Capital spending−SEK 111.0m−SEK 74.0m−SEK 194.0m−SEK 45.0m−SEK 30.0m−SEK 38.0m−SEK 443.0m−SEK 90.0m
Free cash flow−SEK 104.0mSEK 18.0mSEK 89.0mSEK 90.0mSEK 53.0m−SEK 11.0m−SEK 149.0mSEK 63.0m
Total assetsSEK 7.66bnSEK 7.45bnSEK 7.08bnSEK 7.00bnSEK 6.83bnSEK 6.71bnSEK 6.44bnSEK 6.15bn
Cash and short-term investmentsSEK 984.0mSEK 1.12bnSEK 1.11bnSEK 779.8mSEK 906.1mSEK 925.2mSEK 963.8mSEK 927.3m
DebtSEK 1.76bnSEK 1.58bnSEK 1.75bnSEK 1.46bnSEK 1.49bnSEK 1.32bnSEK 1.15bnSEK 900.9m
Shareholders' equitySEK 4.10bnSEK 4.15bnSEK 3.97bnSEK 4.00bnSEK 3.93bnSEK 4.03bnSEK 4.03bnSEK 3.96bn

Financial ratios

Data as of 6 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin31.4%32.4%30.7%30.9%32.3%33.8%
Operating margin11.8%15.3%14.5%11.5%12.6%11.0%
Net margin7.8%10.5%9.9%8.0%9.3%7.2%
Return on equity10.6%14.6%15.5%11.2%12.1%9.1%
Return on assets6.0%9.1%9.5%6.8%7.2%5.3%
Free cash flow yield10.3%17.1%10.3%5.3%3.1%6.1%
Revenue growth-3.3%-2.8%25.3%26.8%14.7%-15.5%
Earnings growth-28.2%3.4%54.4%9.2%48.7%-24.3%
Current ratio4.55x4.31x3.96x3.75x4.48x5.07x
Debt to equity0.39x0.23x0.21x0.19x0.28x0.33x
Equity ratio56.0%62.7%61.7%60.8%59.9%58.7%
Interest coverage8.92x12.23x10.40x14.20x26.83x15.29x
R&D as a share of sales2.7%2.9%2.4%2.9%3.0%3.6%
Buybacks as a share of market value0.0%0.1%0.0%0.0%0.0%0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue5.6%11.4%15.2%
Operating income6.3%12.4%16.8%
Net income4.7%13.2%16.0%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin31.9%31.4%31.7%33.0%
Operating margin13.0%13.1%12.8%12.4%
Net margin9.2%9.1%9.0%8.6%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings23.513.310.79.513.917.013.211.615.016.6
Price to sales1.81.41.10.81.31.21.10.91.11.3

Dividends and splits

Per share, in the currency the company pays

Paid for 5 years. Last went ex-dividend on 13 May 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2019FY2018
Paid in the year7.257.257.005.505.004.503.503.25
  • 4-for-1 split · 5 Jun 2006
  • 1-to-1 reverse split · 3 May 2002
  • 3-for-1 split · 1 Sept 1995

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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