NIBE-B Stock Analysis: NIBE Industrier (publ) | ST
Building Products & Equipment | ST, Sweden | Market Cap: 89.029m SEK | 12M Return: 25.8% | SE0015988019 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 242M
EPS Trend: -49.3%
Qual. Beats: 0
Rev. Trend: -78.3%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
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.
NIBE Industrier AB (publ) is a Swedish industrial company founded in 1949 and headquartered in Markaryd, Sweden, that develops, manufactures, and sells energy-efficient solutions for indoor climate comfort, heating, and control. It operates through three business areas: NIBE Climate Solutions (heat pumps, water heaters, ventilation, and district heating products for residential and commercial properties), NIBE Element (heating components and sensors serving appliance, industrial, energy, transport, and aviation customers), and NIBE Stoves (wood-burning, gas, and electric stoves, fireplaces, inserts, and chimney systems). The company has a global presence across the Nordic region, the rest of Europe, North America, and other international markets.
The company sits within the Industrials sector (Building Products sub-industry), which is closely tied to construction activity, residential renovation cycles, and tightening building energy-efficiency standards. Its diversified three-pillar structure-spanning installed climate systems, industrial heating components, and consumer stoves-gives it exposure to both residential HVAC demand and broader industrial heating applications, with heat pump technology positioned as a core offering linked to the ongoing energy transition in buildings.
- EU heat pump mandates accelerate Climate Solutions segment growth
- Serial acquisitions expand Element and Stoves geographic footprint
- European construction weakness pressures heat pump demand outlook
| Net Income: 2.65b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 0.50 > 1.0 |
| NWC/Revenue: 23.88% < 20% (prev 16.99%; Δ 6.89% < -1%) |
| CFO/TA 0.07 > 3% & CFO 4.94b > Net Income 2.65b |
| Net Debt (20.1b) to EBITDA (6.53b): 3.09 < 3 |
| Current Ratio: 1.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.02b) vs 12m ago -1.66% < -2% |
| Gross Margin: 32.24% > 18% (prev 30.14%; Δ 2.09% > 0.5%) |
| Asset Turnover: 60.71% > 50% (prev 60.02%; Δ 0.69% > 0%) |
| Interest Coverage Ratio: 4.97 > 6 (EBIT TTM 4.26b / Interest Expense TTM 858.0m) |
| A: 0.14 (Total Current Assets 23.8b - Total Current Liabilities 13.9b) / Total Assets 69.1b |
| B: 0.35 (Retained Earnings 24.2b / Total Assets 69.1b) |
| C: 0.06 (EBIT TTM 4.26b / Avg Total Assets 68.5b) |
| D: 0.88 (Book Value of Equity 32.3b / Total Liabilities 36.8b) |
| Altman-Z'' = 3.43 = A |
| DSRI: 1.07 (Receivables 8.59b/7.87b, Revenue 41.6b/40.7b) |
| GMI: 0.94 (GM 30.14% / 32.24%) |
| AQI: 0.99 (AQ_t 0.47 / AQ_t-1 0.47) |
| SGI: 1.02 (Revenue 41.6b / 40.7b) |
| TATA: -0.03 (NI 2.65b - CFO 4.94b) / TA 69.1b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of October 19, 2026, the stock is trading at SEK 44.72 with a total of 5,494,835 shares traded. Over the past week, the price has changed by +1.27%, over one month by +4.05%, over three months by +21.85% and over the past year by +25.81%.
Current recommended Stop Loss: 43.40 (which is 3% or 1.3 ATR below the current price).
NIBE Industrier (publ) has no consensus analysts rating.
P/E Trailing = 33.7099
P/E Forward = 22.6757
P/S = 2.1409
P/B = 2.8334
P/EG = 1.7922
Revenue TTM = 41.6b SEK
EBIT TTM = 4.26b SEK
EBITDA TTM = 6.53b SEK
Long Term Debt = 18.1b SEK (from longTermDebt, last quarter)
Short Term Debt = 5.23b SEK (from shortTermDebt, last quarter)
Debt = 25.5b SEK (from shortLongTermDebtTotal, last quarter) + Leases 2.16b
Net Debt = 20.1b SEK (calculated: Debt 25.5b - CCE 5.36b)
Enterprise Value = 109b SEK (89.0b + Debt 25.5b - CCE 5.36b)
Interest Coverage Ratio = 4.97 (Ebit TTM 4.26b / Interest Expense TTM 858.0m)
EV/FCF = 27.01x (Enterprise Value 109b / FCF TTM 4.04b)
FCF Yield = 3.70% (FCF TTM 4.04b / Enterprise Value 109b)
FCF Margin = 9.72% (FCF TTM 4.04b / Revenue TTM 41.6b)
Net Margin = 6.37% (Net Income TTM 2.65b / Revenue TTM 41.6b)
Gross Margin = 32.24% ((Revenue TTM 41.6b - Cost of Revenue TTM 28.2b) / Revenue TTM)
Gross Margin QoQ = 32.08% (prev 30.86%)
Tobins Q-Ratio = 1.58 (Enterprise Value 109b / Total Assets 69.1b)
Interest Expense / Debt = 3.36% (Interest Expense 858.0m / Debt 25.5b)
Taxrate = 27.16% (989.0m / 3.64b)
NOPAT = 3.10b (EBIT 4.26b * (1 - 27.16%))
Current Ratio = 1.72 (Total Current Assets 23.8b / Total Current Liabilities 13.9b)
Debt / Equity = 0.79 (Debt 25.5b / totalStockholderEquity, last quarter 32.3b)
Debt / EBITDA = 3.09 (Net Debt 20.1b / EBITDA 6.53b)
Debt / FCF = 4.98 (Net Debt 20.1b / FCF TTM 4.04b)
Total Stockholder Equity = 31.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.87% (Net Income 2.65b / Total Assets 69.1b)
RoE = 8.52% (Net Income TTM 2.65b / Total Stockholder Equity 31.1b)
RoCE = 8.66% (EBIT 4.26b / Capital Employed (Equity 31.1b + L.T.Debt 18.1b))
RoIC = 5.31% (NOPAT 3.10b / Invested Capital 58.4b)
WACC = 7.18% (E(89.0b)/V(115b) * Re(8.53%) + D(25.5b)/V(115b) * Rd(3.36%) * (1-Tc(0.27)))
Discount Rate = 8.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 25.77 | Cagr: 0.00%
[DCF] Terminal Value 76.81% ; FCFF base≈3.88b ; Y1≈4.26b ; Y5≈5.39b
[DCF] Fair Price = 34.90 (EV 82.4b - Net Debt 20.1b = Equity 62.2b / Shares 1.78b; r=8.35% [WACC [floored]]; 5y FCF grow 11.32% → 2.50% )
EPS Correlation: -49.25 | EPS CAGR: -18.54% | SUE: 0.23 | # QB: 0
Revenue Correlation: -78.29 | Revenue CAGR: -4.53% | SUE: 1.12 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.46 | Chg30d=-2.58% | Revisions=+29% | Analysts=6
EPS current Year (2026-12-31): EPS=1.67 | Chg30d=-0.68% | Revisions=+46% | GrowthEPS=+39.0% | GrowthRev=+6.8%
EPS next Year (2027-12-31): EPS=2.03 | Chg30d=+0.87% | Revisions=+46% | GrowthEPS=+22.0% | GrowthRev=+8.6%
[Analyst] Revisions Ratio: +52% (up=19, down=5)