INDU-A Stock Analysis: Industrivarden ser. | ST
Asset Management | ST, Sweden | Market Cap: 228.259m SEK | 12M Return: 39.2% | SE0000190126 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 50.4M
EPS Trend: 10.7%
Rev. Trend: -13.0%
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
AB Industrivärden is a publicly listed Swedish investment manager founded in 1944 and headquartered in Stockholm. The firm invests in publicly traded equities across the Nordic region, using a fundamental, long-term value-oriented approach that emphasizes proven business models, attractive valuations, and a balanced risk-return profile. Its shares trade on Nasdaq Stockholm under the ticker INDU-A.
The company operates as a long-term, concentrated equity investor, typically holding significant stakes in a small number of Nordic blue-chip listed companies rather than running a diversified, high-turnover fund. As one of Swedens oldest listed investment companies, it functions as a publicly traded vehicle that gives shareholders indirect exposure to a portfolio of major Nordic industrial and commercial businesses.
- Sandvik and Atlas Copco order trends drive portfolio NAV
- NAV discount narrowing boosts holding company share price
- Portfolio dividend income supports rising shareholder payouts
| Net Income: 62.9b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -1.39 > 1.0 |
| NWC/Revenue: 6.20% < 20% (prev 1.53%; Δ 4.67% < -1%) |
| CFO/TA 0.04 > 3% & CFO 9.22b > Net Income 62.9b |
| Net Debt (2.35b) to EBITDA (63.1b): 0.04 < 3 |
| Current Ratio: 2.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (431.9m) vs 12m ago 0.07% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 17.61% > 50% (prev 7.73%; Δ 9.88% > 0%) |
| Interest Coverage Ratio: 426.6 > 6 (EBIT TTM 63.1b / Interest Expense TTM 148.0m) |
| A: 0.01 (Total Current Assets 3.98b - Total Current Liabilities 1.78b) / Total Assets 231b |
| B: 0.82 (Retained Earnings 189b / Total Assets 231b) |
| C: 0.31 (EBIT TTM 63.1b / Avg Total Assets 202b) |
| D: 31.71 (Book Value of Equity 224b / Total Liabilities 7.07b) |
| Altman-Z'' = 38.12 = AAA |
| DSRI: 0.22 (Receivables 52.0m/87.0m, Revenue 35.5b/13.3b) |
| GMI: 0.99 (GM 98.98% / 99.98%) |
| AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98) |
| SGI: 2.67 (Revenue 35.5b / 13.3b) |
| TATA: 0.23 (NI 62.9b - CFO 9.22b) / TA 231b) |
| Beneish M = -2.45 (Cap -4..+1) = BBB |
As of October 07, 2026, the stock is trading at SEK 526.00 with a total of 92,317 shares traded. Over the past week, the price has changed by -2.50%, over one month by -2.68%, over three months by -2.41% and over the past year by +39.23%.
Current recommended Stop Loss: 512.10 (which is 2.6% or 1.6 ATR below the current price).
Industrivarden ser. has no consensus analysts rating.
P/E Trailing = 3.6318
P/E Forward = 30.4878
P/S = 3.6062
P/B = 1.0504
P/EG = 4.6248
Revenue TTM = 35.5b SEK
EBIT TTM = 63.1b SEK
EBITDA TTM = 63.1b SEK
Long Term Debt = 5.00b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 1.78b SEK (from shortTermDebt, last quarter)
Debt = 6.28b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.35b SEK (calculated: Debt 6.28b - CCE 3.93b)
Enterprise Value = 231b SEK (228b + Debt 6.28b - CCE 3.93b)
Interest Coverage Ratio = 426.6 (Ebit TTM 63.1b / Interest Expense TTM 148.0m)
EV/FCF = 25.00x (Enterprise Value 231b / FCF TTM 9.22b)
FCF Yield = 4.00% (FCF TTM 9.22b / Enterprise Value 231b)
FCF Margin = 25.97% (FCF TTM 9.22b / Revenue TTM 35.5b)
Net Margin = 177.0% (Net Income TTM 62.9b / Revenue TTM 35.5b)
Gross Margin = unknown ((Revenue TTM 35.5b - Cost of Revenue TTM 6.00m) / Revenue TTM)
Tobins Q-Ratio = 1.00 (Enterprise Value 231b / Total Assets 231b)
Interest Expense / Debt = 2.36% (Interest Expense 148.0m / Debt 6.28b)
Taxrate = 0.28% (176.0m / 63.0b)
NOPAT = 63.0b (EBIT 63.1b * (1 - 0.28%))
Current Ratio = 2.24 (Total Current Assets 3.98b / Total Current Liabilities 1.78b)
Debt / Equity = 0.03 (Debt 6.28b / totalStockholderEquity, last quarter 224b)
Debt / EBITDA = 0.04 (Net Debt 2.35b / EBITDA 63.1b)
Debt / FCF = 0.25 (Net Debt 2.35b / FCF TTM 9.22b)
Total Stockholder Equity = 198b (last 4 quarters mean from totalStockholderEquity)
RoA = 31.17% (Net Income 62.9b / Total Assets 231b)
RoE = 31.77% (Net Income TTM 62.9b / Total Stockholder Equity 198b)
RoCE = 31.12% (EBIT 63.1b / Capital Employed (Equity 198b + L.T.Debt 5.00b))
RoIC = 27.42% (NOPAT 63.0b / Invested Capital 230b)
WACC = 8.03% (E(228b)/V(235b) * Re(8.19%) + D(6.28b)/V(235b) * Rd(2.36%) * (1-Tc(0.00)))
Discount Rate = 8.19% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 9.26 | Cagr: 0.00%
[DCF] Terminal Value 75.41% ; FCFF base≈9.23b ; Y1≈9.25b ; Y5≈9.76b
[DCF] Fair Price = 709.9 (EV 152b - Net Debt 2.35b = Equity 150b / Shares 210.6m; r=8.35% [WACC [floored]]; 5y FCF grow -0.25% → 2.50% )
EPS Correlation: 10.70 | EPS CAGR: 9.07% | SUE: N/A | # QB: 0
Revenue Correlation: -12.99 | Revenue CAGR: -9.71% | SUE: N/A | # QB: 0