(INDU-C) Industrivarden ser. C - ST
Sector: Financial Services | Industry: Asset Management | Exchange: ST (Sweden) | Market Cap: 220.779m SEK | Total Return: 55.2% in 12m
Avg Turnover: 215M
EPS Trend: -17.5%
Rev. Trend: -17.5%
Warnings
Earnings expected to drop: P/E 5.5 → Forward 28.4
Tailwinds
Idiosyncratic Leader
AB Industrivärden is a Stockholm-based investment manager founded in 1944. The firm functions as a long-term holding company, primarily targeting large-cap public equities within the Nordic region. Its strategy relies on fundamental analysis to identify companies with established business models and favorable risk-adjusted valuation profiles.
As an active owner, the firm typically seeks significant voting influence to drive strategic development in its portfolio companies. This model is characteristic of Swedish investment firms, which often utilize dual-class share structures to maintain long-term corporate governance across diverse industrial sectors.
- Net asset value fluctuates with Volvo and Sandvik equity performance
- Dividend income from core holdings drives capital allocation and buybacks
- Industrial sector exposure links share price to global macroeconomic cycles
- Narrowing or widening of investment company discount relative to NAV
| 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: 6.47% < 20% (prev 2.27%; Δ 4.19% < -1%) |
| CFO/TA 0.13 > 3% & CFO 27.6b > 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: 20.85% > 50% (prev 2.30%; Δ 18.54% > 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: 0.12 (Receivables 5.05b/4.29b, Revenue 40.3b/4.05b) |
| GMI: 0.97 (GM 96.96% / 99.66%) |
| AQI: 1.00 (AQ_t 0.97 / AQ_t-1 0.97) |
| SGI: 9.97 (Revenue 40.3b / 4.05b) |
| TATA: 0.06 (NI 40.1b - CFO 27.6b) / TA 211b) |
| Beneish M = 2.66 (Cap -4..+1) = D |
As of June 20, 2026, the stock is trading at SEK 513.80 with a total of 945,544 shares traded.
Over the past week, the price has changed by +3.42%,
over one month by +7.69%,
over three months by +14.92% and
over the past year by +55.23%.
Industrivarden ser. C has no consensus analysts rating.
P/E Trailing = 5.4951
P/E Forward = 28.4091
P/S = 5.4593
P/B = 1.0725
P/EG = 5.4678
Revenue TTM = 40.3b SEK
EBIT TTM = 40.2b SEK
EBITDA TTM = 40.2b SEK
Long Term Debt = 4.50b SEK (from longTermDebt, last quarter)
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 = 228b SEK (221b + Debt 7.28b - CCE 337.0m)
Interest Coverage Ratio = 281.4 (Ebit TTM 40.2b / Interest Expense TTM 143.0m)
EV/FCF = 24.72x (Enterprise Value 228b / FCF TTM 9.21b)
FCF Yield = 4.05% (FCF TTM 9.21b / Enterprise Value 228b)
FCF Margin = 22.83% (FCF TTM 9.21b / Revenue TTM 40.3b)
Net Margin = 99.31% (Net Income TTM 40.1b / Revenue TTM 40.3b)
Gross Margin = unknown ((Revenue TTM 40.3b - Cost of Revenue TTM 138.0m) / Revenue TTM)
Tobins Q-Ratio = 1.08 (Enterprise Value 228b / 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 = 21.46% (EBIT 40.2b / Capital Employed (Equity 183b + L.T.Debt 4.50b))
RoIC = 19.02% (NOPAT 40.1b / Invested Capital 211b)
WACC = 7.94% (E(221b)/V(228b) * Re(8.14%) + D(7.28b)/V(228b) * Rd(1.97%) * (1-Tc(0.00)))
Discount Rate = 8.14% (= 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 = 822.0 (EV 189b - Net Debt 6.94b = Equity 182b / Shares 221.3m; 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: -17.51 | Revenue CAGR: -11.85% | SUE: N/A | # QB: 0