(INVE-B) Investor ser. - ST
Sector: Financial Services | Industry: Asset Management | Exchange: ST (Sweden) | Market Cap: 1.184.134m SEK | Total Return: 44.4% in 12m
Avg Turnover: 1.03B
EPS Trend: -24.1%
Rev. Trend: -20.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader
Investor AB is a Stockholm-based investment company founded in 1916 that functions as an industrial holding firm. It manages a diverse portfolio through three primary arms: Listed Companies, Patricia Industries (wholly-owned subsidiaries), and an investment in the private equity firm EQT. The firm focuses on long-term value creation by maintaining significant influence or controlling stakes in its core holdings.
The business model relies on an evergreen investment structure, meaning the firm primarily uses its own balance sheet rather than fixed-term funds to support its portfolio. This allows for an indefinite holding period for core assets, which contrasts with traditional private equity models that typically mandate exits within ten years. The firm targets sectors with high barriers to entry, including healthcare, financial services, and advanced engineering.
Investor AB operates as a strategic owner, typically securing board representation to direct corporate governance and capital allocation. While its operating investments focus on Northern Europe, its broader investment mandate is global, spanning mature middle-market buyouts to growth capital in emerging technologies such as AI and quantum computing.
- Net asset value growth driven by listed core holdings performance
- Patricia Industries expansion increases unlisted portfolio revenue and margins
- EQT ownership stake provides significant private equity market exposure
- Narrowing of investment company discount relative to underlying asset value
| Net Income: 191b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 1.04 > 1.0 |
| NWC/Revenue: 12.71% < 20% (prev 46.42%; Δ -33.71% < -1%) |
| CFO/TA 0.03 > 3% & CFO 31.5b > Net Income 191b |
| Net Debt (94.5b) to EBITDA (195b): 0.49 < 3 |
| Current Ratio: 2.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.07b) vs 12m ago 0.12% < -2% |
| Gross Margin: 90.95% > 18% (prev 94.07%; Δ -3.12% > 0.5%) |
| Asset Turnover: 22.61% > 50% (prev 11.16%; Δ 11.45% > 0%) |
| Interest Coverage Ratio: 29.34 > 6 (EBIT TTM 195b / Interest Expense TTM 6.64b) |
| A: 0.03 (Total Current Assets 45.3b - Total Current Liabilities 15.3b) / Total Assets 1140b |
| B: 0.81 (Retained Earnings 925b / Total Assets 1140b) |
| C: 0.19 (EBIT TTM 195b / Avg Total Assets 1043b) |
| D: 6.35 (Book Value of Equity 985b / Total Liabilities 155b) |
| Altman-Z'' = 10.74 = AAA |
| DSRI: 0.42 (Receivables 17.6b/18.8b, Revenue 236b/106b) |
| GMI: 1.03 (GM 94.07% / 90.95%) |
| AQI: 1.03 (AQ_t 0.94 / AQ_t-1 0.91) |
| SGI: 2.23 (Revenue 236b / 106b) |
| TATA: 0.14 (NI 191b - CFO 31.5b) / TA 1140b) |
| Beneish M = -2.55 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at SEK 391.15 with a total of 3,956,589 shares traded.
Over the past week, the price has changed by +4.07%,
over one month by +6.25%,
over three months by +15.54% and
over the past year by +44.38%.
Investor ser. has no consensus analysts rating.
P/E Trailing = 6.2148
P/E Forward = 3.7707
P/S = 4.6288
P/B = 1.1935
P/EG = 5.0848
Revenue TTM = 236b SEK
EBIT TTM = 195b SEK
EBITDA TTM = 195b SEK
Long Term Debt = 111b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 1.45b SEK (from shortTermDebt, last quarter)
Debt = 122b SEK (from shortLongTermDebtTotal, last quarter) + Leases 128.0m
Net Debt = 94.5b SEK (calculated: Debt 122b - CCE 27.7b)
Enterprise Value = 1279b SEK (1184b + Debt 122b - CCE 27.7b)
Interest Coverage Ratio = 29.34 (Ebit TTM 195b / Interest Expense TTM 6.64b)
EV/FCF = 44.67x (Enterprise Value 1279b / FCF TTM 28.6b)
FCF Yield = 2.24% (FCF TTM 28.6b / Enterprise Value 1279b)
FCF Margin = 12.14% (FCF TTM 28.6b / Revenue TTM 236b)
Net Margin = 80.83% (Net Income TTM 191b / Revenue TTM 236b)
Gross Margin = 90.95% ((Revenue TTM 236b - Cost of Revenue TTM 21.3b) / Revenue TTM)
Gross Margin QoQ = 67.33% (prev none%)
Tobins Q-Ratio = 1.12 (Enterprise Value 1279b / Total Assets 1140b)
Interest Expense / Debt = 5.43% (Interest Expense 6.64b / Debt 122b)
Taxrate = 0.66% (1.26b / 192b)
NOPAT = 193b (EBIT 195b * (1 - 0.66%))
Current Ratio = 2.96 (Total Current Assets 45.3b / Total Current Liabilities 15.3b)
Debt / Equity = 0.12 (Debt 122b / totalStockholderEquity, last quarter 985b)
Debt / EBITDA = 0.49 (Net Debt 94.5b / EBITDA 195b)
Debt / FCF = 3.30 (Net Debt 94.5b / FCF TTM 28.6b)
Total Stockholder Equity = 919b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.27% (Net Income 191b / Total Assets 1140b)
RoE = 20.73% (Net Income TTM 191b / Total Stockholder Equity 919b)
RoCE = 18.89% (EBIT 195b / Capital Employed (Equity 919b + L.T.Debt 111b))
RoIC = 17.14% (NOPAT 193b / Invested Capital 1128b)
WACC = 7.70% (E(1184b)/V(1306b) * Re(7.94%) + D(122b)/V(1306b) * Rd(5.43%) * (1-Tc(0.01)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 42.22 | Cagr: 0.05%
[DCF] Terminal Value 77.97% ; FCFF base≈22.7b ; Y1≈26.1b ; Y5≈38.3b
[DCF] Fair Price = 265.5 (EV 577b - Net Debt 94.5b = Equity 482b / Shares 1.82b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -24.14 | EPS CAGR: -16.16% | SUE: N/A | # QB: 0
Revenue Correlation: -20.62 | Revenue CAGR: -7.58% | SUE: 0.21 | # QB: 0
EPS current Year (2026-12-31): EPS=40.12 | Chg30d=+1.49% | Revisions=+20% | GrowthEPS=-21.9% | GrowthRev=+3.0%
EPS next Year (2027-12-31): EPS=25.58 | Chg30d=-0.99% | Revisions=-20% | GrowthEPS=-36.2% | GrowthRev=+1.5%