(INDU-A) Industrivarden ser. - ST
Sector: Financial Services | Industry: Asset Management | Exchange: ST (Sweden) | Market Cap: 227.179m SEK | Total Return: 58.5% in 12m
Avg Turnover: 71.3M
EPS Trend: -17.5%
Rev. Trend: -33.7%
Warnings
Earnings expected to drop: P/E 5.7 → Forward 30.5
Tailwinds
Idiosyncratic Leader
AB Industrivärden is a Stockholm-based investment manager founded in 1944 that focuses on long-term equity holdings within the Nordic region. The firm utilizes fundamental analysis to select companies with proven business models and favorable risk-return profiles.
As an industrial holding company, Industrivärden operates by taking significant ownership stakes to exercise active governance, a common model in Swedish capital markets used to influence the strategic direction of portfolio companies. The firm typically concentrates its capital in large-cap entities across diverse sectors, including manufacturing, banking, and construction, to drive shareholder value through structural improvements and steady dividend growth.
- Net asset value tracks performance of core Volvo and Sandvik holdings
- Dividend income from portfolio companies drives capital allocation and reinvestment
- Strategic influence through board representation impacts long-term portfolio efficiency
- Macroeconomic sensitivity of Nordic industrial holdings dictates share price volatility
| Net Income: 40.1b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.64 > 1.0 |
| NWC/Revenue: 7.91% < 20% (prev 2.27%; Δ 5.63% < -1%) |
| CFO/TA 0.04 > 3% & CFO 9.21b > Net Income 40.1b |
| Net Debt (6.94b) to EBITDA (40.2b): 0.17 < 3 |
| Current Ratio: 1.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (431.9m) vs 12m ago 0.01% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 17.05% > 50% (prev 2.30%; Δ 14.75% > 0%) |
| Interest Coverage Ratio: 281.4 > 6 (EBIT TTM 40.2b / Interest Expense TTM 143.0m) |
| A: 0.01 (Total Current Assets 5.38b - Total Current Liabilities 2.78b) / Total Assets 211b |
| B: 0.89 (Retained Earnings 189b / Total Assets 211b) |
| C: 0.21 (EBIT TTM 40.2b / Avg Total Assets 194b) |
| D: 25.65 (Book Value of Equity 203b / Total Liabilities 7.93b) |
| Altman-Z'' = 31.32 = AAA |
| DSRI: 0.14 (Receivables 5.05b/4.29b, Revenue 33.0b/4.05b) |
| GMI: 0.97 (GM 96.96% / 99.98%) |
| AQI: 1.00 (AQ_t 0.97 / AQ_t-1 0.97) |
| SGI: 8.15 (Revenue 33.0b / 4.05b) |
| TATA: 0.15 (NI 40.1b - CFO 9.21b) / TA 211b) |
| Beneish M = 1.39 (Cap -4..+1) = D |
As of June 20, 2026, the stock is trading at SEK 525.00 with a total of 617,812 shares traded.
Over the past week, the price has changed by +2.84%,
over one month by +8.25%,
over three months by +16.54% and
over the past year by +58.50%.
Industrivarden ser. has no consensus analysts rating.
P/E Trailing = 5.6687
P/E Forward = 30.4878
P/S = 5.6175
P/B = 1.106
P/EG = 4.6248
Revenue TTM = 33.0b SEK
EBIT TTM = 40.2b SEK
EBITDA TTM = 40.2b SEK
Long Term Debt = 5.00b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 2.78b SEK (from shortTermDebt, last quarter)
Debt = 7.28b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.94b SEK (calculated: Debt 7.28b - CCE 337.0m)
Enterprise Value = 234b SEK (227b + Debt 7.28b - CCE 337.0m)
Interest Coverage Ratio = 281.4 (Ebit TTM 40.2b / Interest Expense TTM 143.0m)
EV/FCF = 25.41x (Enterprise Value 234b / FCF TTM 9.21b)
FCF Yield = 3.93% (FCF TTM 9.21b / Enterprise Value 234b)
FCF Margin = 27.91% (FCF TTM 9.21b / Revenue TTM 33.0b)
Net Margin = 121.4% (Net Income TTM 40.1b / Revenue TTM 33.0b)
Gross Margin = unknown ((Revenue TTM 33.0b - Cost of Revenue TTM 6.00m) / Revenue TTM)
Tobins Q-Ratio = 1.11 (Enterprise Value 234b / Total Assets 211b)
Interest Expense / Debt = 1.97% (Interest Expense 143.0m / Debt 7.28b)
Taxrate = 0.27% (107.0m / 40.2b)
NOPAT = 40.1b (EBIT 40.2b * (1 - 0.27%))
Current Ratio = 1.94 (Total Current Assets 5.38b / Total Current Liabilities 2.78b)
Debt / Equity = 0.04 (Debt 7.28b / totalStockholderEquity, last quarter 203b)
Debt / EBITDA = 0.17 (Net Debt 6.94b / EBITDA 40.2b)
Debt / FCF = 0.75 (Net Debt 6.94b / FCF TTM 9.21b)
Total Stockholder Equity = 183b (last 4 quarters mean from totalStockholderEquity)
RoA = 20.70% (Net Income 40.1b / Total Assets 211b)
RoE = 21.89% (Net Income TTM 40.1b / Total Stockholder Equity 183b)
RoCE = 21.40% (EBIT 40.2b / Capital Employed (Equity 183b + L.T.Debt 5.00b))
RoIC = 19.02% (NOPAT 40.1b / Invested Capital 211b)
WACC = 7.97% (E(227b)/V(234b) * Re(8.16%) + D(7.28b)/V(234b) * Rd(1.97%) * (1-Tc(0.00)))
Discount Rate = 8.16% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -7.16 | Cagr: -0.00%
[DCF] Terminal Value 77.97% ; FCFF base≈7.44b ; Y1≈8.53b ; Y5≈12.5b
[DCF] Fair Price = 863.4 (EV 189b - Net Debt 6.94b = Equity 182b / Shares 210.6m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -17.47 | EPS CAGR: -11.97% | SUE: N/A | # QB: 0
Revenue Correlation: -33.74 | Revenue CAGR: -22.79% | SUE: N/A | # QB: 0