V 
119.60
-0.42%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 3.44bn
FY2016FY2025
Net income
−SEK 5.01bn
FY2016FY2025
Free cash flow
SEK 460.0m
FY2016FY2025
Shareholders' equity
SEK 7.89bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 3.44bn | SEK 3.61bn | SEK 3.51bn | SEK 3.23bn | SEK 1.68bn | SEK 1.25bn | SEK 1.48bn | SEK 1.15bn | SEK 1.05bn | SEK 856.1m |
| Gross profit | SEK 1.75bn | SEK 2.13bn | SEK 1.98bn | SEK 1.79bn | SEK 1.05bn | SEK 767.7m | SEK 938.7m | SEK 761.1m | SEK 681.7m | SEK 561.3m |
| Research and development | SEK 111.0m | SEK 117.0m | SEK 228.0m | SEK 143.0m | SEK 114.5m | SEK 91.8m | SEK 99.5m | SEK 88.5m | SEK 69.1m | SEK 61.6m |
| Operating income | SEK 616.0m | SEK 783.0m | −SEK 3.60bn | SEK 654.0m | SEK 445.0m | SEK 370.0m | SEK 488.7m | SEK 393.9m | SEK 340.9m | SEK 249.2m |
| Net income | −SEK 5.01bn | SEK 513.0m | −SEK 3.85bn | SEK 394.0m | SEK 341.0m | SEK 286.8m | SEK 382.8m | SEK 309.7m | SEK 263.6m | SEK 190.4m |
| Diluted earnings per share | -37.02 | 3.78 | -28.44 | 2.91 | 3.17 | 2.64 | 3.53 | 2.85 | 2.43 | 1.75 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 11.12bn | SEK 17.45bn | SEK 16.33bn | SEK 20.55bn | SEK 19.43bn | SEK 2.31bn | SEK 2.14bn | SEK 1.70bn | SEK 1.42bn | SEK 1.25bn |
| Cash and short-term investments | SEK 809.0m | SEK 1.14bn | SEK 861.0m | SEK 578.0m | SEK 630.1m | SEK 973.6m | SEK 689.5m | SEK 490.8m | SEK 396.0m | SEK 189.2m |
| Total liabilities | SEK 3.23bn | SEK 3.81bn | SEK 3.61bn | SEK 3.81bn | SEK 4.09bn | SEK 288.1m | SEK 341.1m | SEK 201.3m | SEK 193.8m | SEK 230.1m |
| Debt | SEK 1.60bn | SEK 2.09bn | SEK 2.09bn | SEK 2.23bn | SEK 2.48bn | SEK 62.4m | SEK 75.8m | — | SEK 480,000 | SEK 37.9m |
| Shareholders' equity | SEK 7.89bn | SEK 13.64bn | SEK 12.72bn | SEK 16.74bn | SEK 15.32bn | SEK 2.01bn | SEK 1.79bn | SEK 1.49bn | SEK 1.23bn | SEK 1.02bn |
| Shares outstanding | 135m | 136m | 135m | 135m | 108m | 109m | 109m | 109m | 109m | 109m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 635.0m | SEK 907.0m | SEK 757.0m | SEK 636.0m | SEK 384.3m | SEK 356.4m | SEK 413.3m | SEK 349.4m | SEK 312.2m | SEK 181.3m |
| Capital spending | −SEK 175.0m | −SEK 92.0m | −SEK 119.0m | −SEK 87.0m | −SEK 62.4m | −SEK 20.1m | −SEK 87.1m | −SEK 180.1m | −SEK 10.5m | −SEK 13.8m |
| Free cash flow | SEK 460.0m | SEK 815.0m | SEK 638.0m | SEK 549.0m | SEK 321.9m | SEK 336.4m | SEK 326.2m | SEK 169.3m | SEK 301.7m | SEK 167.5m |
| Dividends paid | −SEK 149.0m | −SEK 135.0m | −SEK 115.0m | −SEK 110.0m | −SEK 88.3m | −SEK 88.3m | −SEK 92.3m | −SEK 81.0m | −SEK 57.0m | −SEK 52.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 857.0m | SEK 807.0m | SEK 891.0m | SEK 835.0m | SEK 871.0m | SEK 842.0m | SEK 959.0m | SEK 867.0m |
| Gross profit | SEK 517.0m | SEK 483.0m | SEK 322.0m | SEK 499.0m | SEK 505.0m | SEK 483.0m | SEK 586.0m | SEK 508.0m |
| Operating income | SEK 198.0m | SEK 149.0m | SEK 159.0m | SEK 155.0m | SEK 137.0m | SEK 151.0m | SEK 225.0m | SEK 174.0m |
| Net income | SEK 129.0m | SEK 101.0m | −SEK 5.31bn | SEK 102.0m | SEK 100.0m | SEK 100.0m | SEK 139.0m | SEK 116.0m |
| Diluted earnings per share | 0.95 | 0.75 | -39.24 | 0.75 | 0.74 | 0.74 | 1.03 | 0.86 |
| Cash from operations | SEK 140.0m | SEK 172.0m | SEK 160.0m | SEK 255.0m | SEK 151.0m | SEK 69.0m | SEK 268.0m | SEK 206.0m |
| Capital spending | −SEK 34.0m | −SEK 44.0m | −SEK 20.0m | −SEK 56.0m | −SEK 100.0m | −SEK 39.0m | −SEK 31.0m | −SEK 46.0m |
| Free cash flow | SEK 106.0m | SEK 128.0m | SEK 140.0m | SEK 199.0m | SEK 51.0m | SEK 30.0m | SEK 237.0m | SEK 160.0m |
| Total assets | SEK 11.30bn | SEK 11.24bn | SEK 11.12bn | SEK 16.85bn | SEK 16.86bn | SEK 16.63bn | SEK 17.45bn | SEK 16.88bn |
| Cash and short-term investments | SEK 823.0m | SEK 886.0m | SEK 809.0m | SEK 1.11bn | SEK 921.0m | SEK 1.05bn | SEK 1.14bn | SEK 925.0m |
| Debt | SEK 1.52bn | SEK 1.50bn | SEK 1.65bn | SEK 2.00bn | SEK 1.99bn | SEK 1.95bn | SEK 2.09bn | SEK 1.96bn |
| Shareholders' equity | SEK 8.13bn | SEK 8.07bn | SEK 7.89bn | SEK 13.30bn | SEK 13.28bn | SEK 13.13bn | SEK 13.64bn | SEK 13.14bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 50.9% | 59.1% | 56.3% | 55.3% | 62.3% | 61.6% |
| Operating margin | 17.9% | 21.7% | -102.5% | 20.2% | 26.5% | 29.7% |
| Net margin | -145.7% | 14.2% | -109.7% | 12.2% | 20.3% | 23.0% |
| Return on equity | -63.5% | 3.8% | -30.3% | 2.4% | 2.2% | 14.3% |
| Return on assets | -45.1% | 2.9% | -23.6% | 1.9% | 1.8% | 12.4% |
| Free cash flow yield | 6.5% | 8.1% | 7.1% | 5.8% | 4.5% | 3.8% |
| Revenue growth | -4.7% | 2.8% | 8.6% | 92.4% | 34.9% | -15.8% |
| Earnings growth | -1077.2% | -113.3% | -1077.4% | 15.5% | 18.9% | -25.1% |
| Current ratio | 3.40x | 3.34x | 3.44x | 2.53x | 1.47x | 7.99x |
| Debt to equity | 0.19x | 0.15x | 0.16x | 0.13x | 0.16x | 0.01x |
| Equity ratio | 71.0% | 78.2% | 77.9% | 81.4% | 78.9% | 87.3% |
| Interest coverage | 7.08x | 7.18x | -35.29x | 10.90x | 44.50x | 177.47x |
| R&D as a share of sales | 3.2% | 3.2% | 6.5% | 4.4% | 6.8% | 7.4% |
| Buybacks as a share of market value | 0.1% | -0.1% | 0.0% | -25.8% | 0.9% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.1% | 22.5% | 16.9% |
| Operating income | -2.0% | 10.7% | 10.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 55.1% | 55.4% | 56.6% | 58.6% |
| Operating margin | 19.8% | -11.2% | -4.4% | 4.4% |
| Net margin | -63.8% | -57.7% | -43.8% | -27.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.7 | 56.8 | -6.8 | 64.0 | 176.7 | 81.7 | 56.0 | 51.5 | 51.3 | 44.1 |
| Price to sales | 5.4 | 8.1 | 7.5 | 7.8 | 35.9 | 18.8 | 14.5 | 13.9 | 12.9 | 9.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 6 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.10 | 1.10 | 2.00 | 0.85 | 0.80 | 0.80 | 0.85 | 0.74 |
- 5-for-1 split · 17 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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