RATO-B Stock Analysis: Ratos (publ) | ST

Engineering & Construction | ST, Sweden | Market Cap: 12.753m SEK | 12M Return: 6.8% | SE0000111940 | Charts, Fundamentals & Technical Analysis

Total Rating 29
Safety 81
Buy Signal 0.61
Engineering & Construction
Industry Rotation: -6.9
Market Cap: 1.28B
Avg Turnover: 9.14M
Risk 3d forecast
Volatility36.2%
VaR 5th Pctl5.77%
VaR vs Median-2.88%
Reward TTM
Sharpe Ratio0.27
Rel. Str. IBD66.8
Rel. Str. Peer Group66 pctl
Character TTM
Beta0.624
Beta Downside0.367
Hurst Exponent0.496
Choppyness60.0%
Drawdowns 3y
Max DD33.47%
CAGR/Max DD0.41
CAGR/Mean DD1.31
EPS (Earnings per Share) EPS (Earnings per Share) of RATO-B over the last years for every Quarter: "2021-09": 0.04, "2021-12": 0.44, "2022-03": 0.05, "2022-06": 1.88, "2022-09": 0.61, "2022-12": -0.11, "2023-03": -0.09, "2023-06": 1.79, "2023-09": 0.57, "2023-12": 0.15, "2024-03": 0.06, "2024-06": 1.85, "2024-09": -0.45, "2024-12": 0.05, "2025-03": 0.76, "2025-06": 1.64, "2025-09": 0.43, "2025-12": 0.37, "2026-03": 0.67, "2026-06": 1.97,
EPS CAGR: 15.65%
EPS Trend: 50.2%
Last SUE: 0.10
Qual. Beats: 0
Revenue Revenue of RATO-B over the last years for every Quarter: 2021-09: 5371, 2021-12: 5754, 2022-03: 6220, 2022-06: 8420, 2022-09: 7039, 2022-12: 8195, 2023-03: 7817, 2023-06: 10001, 2023-09: 7971, 2023-12: 7960, 2024-03: 7825, 2024-06: 5991, 2024-09: 7454, 2024-12: 7731, 2025-03: 7535, 2025-06: 5594, 2025-09: 4165, 2025-12: 8852, 2026-03: 4497, 2026-06: 5703,
Rev. CAGR: -13.49%
Rev. Trend: -96.5%
Last SUE: 0.02
Qual. Beats: 0

Warnings

High Debt/EBITDA With Thin Interest Coverage
Interest Coverage Ratio Critical
Overextended 3d

Tailwinds

Squeeze
Ep Pivot

Seasonality

Not enough history
Description: RATO-B Ratos (publ)
Ratos AB (publ) is a private equity firm specializing in buyouts, turnarounds, add on acquisitions, small and middle market transactions. The firm does not invest in early stages and in companies that operate in the arms industry, pornography, or are detrimental to the environment. It seeks to invest in unlisted medium sized companies. The firm invests in industry and technology (including aftermarket information and training solutions, sustainable core material development, product and digital service development at the intersection between business strategy and technological development, secondary optics, camping and outdoor equipment, third-party logistics, and contract research for biotech and pharmaceutical companies,) construction and services (including electrification of rail infrastructure, maintenance of critical transportation infrastructure, technology and design of complex sustainable energy solutions, and Construction of commercial properties, public buildings and housing), consumer (including plants, flowers and related products) sectors. The firm typically invests in the Nordic region, with focus on Sweden, Finland, Denmark, and Norway. It seeks to invest in companies with equity investments between SEK250 million ($27.20 million) and SEK5000 million ($543.99 million), sales value between SEK300 million ($32.64 million) and SEK5000 million ($543.99million) and EBITDA greater than SEK50 million ($5.43 million). The firm takes both minority and majority stakes. The firm prefers to be the principal owner with a minimum holding of at least 20 percent and also seeks a board seat. It prefers to hold its investment between five to ten years. Ratos AB (publ) was founded in 1866 and is based in Stockholm, Sweden with additional office in Stockholm, Sweden.
Headlines to Watch Out For
Piotroski VR-10 (Strict) 1.5
Net Income: -114.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.09 > 0.02 and ΔFCF/TA 0.49 > 1.0
NWC/Revenue: 8.85% < 20% (prev 7.41%; Δ 1.44% < -1%)
CFO/TA 0.11 > 3% & CFO 3.05b > Net Income -114.0m
Net Debt (9.65b) to EBITDA (1.80b): 5.37 < 3
Current Ratio: 1.44 > 1.5 & < 3
Outstanding Shares: last quarter (330.5m) vs 12m ago 0.94% < -2%
Gross Margin: 33.79% > 18% (prev 44.56%; Δ -10.77% > 0.5%)
Asset Turnover: 77.71% > 50% (prev 91.74%; Δ -14.03% > 0%)
Interest Coverage Ratio: 0.70 > 6 (EBIT TTM 293.0m / Interest Expense TTM 420.0m)
Altman Z'' 3.17
A: 0.07 (Total Current Assets 6.75b - Total Current Liabilities 4.70b) / Total Assets 28.9b
B: 0.43 (Retained Earnings 12.5b / Total Assets 28.9b)
C: 0.01 (EBIT TTM 293.0m / Avg Total Assets 29.9b)
D: 1.18 (Book Value of Equity 14.4b / Total Liabilities 12.3b)
Altman-Z'' = 3.17 = A
Beneish M -2.81
DSRI: 1.11 (Receivables 3.29b/3.62b, Revenue 23.2b/28.3b)
GMI: 1.32 (GM 44.56% / 33.79%)
AQI: 0.96 (AQ_t 0.60 / AQ_t-1 0.62)
SGI: 0.82 (Revenue 23.2b / 28.3b)
TATA: -0.11 (NI -114.0m - CFO 3.05b) / TA 28.9b)
Beneish M = -2.81 (Cap -4..+1) = A
What is the price of RATO-B shares?

As of October 24, 2026, the stock is trading at SEK 39.50 with a total of 1,288,479 shares traded. Over the past week, the price has changed by +7.34%, over one month by +4.89%, over three months by +8.94% and over the past year by +6.76%.

Current recommended Stop Loss: 38.70 (which is 2% or 1.3 ATR below the current price).

Is RATO-B a buy, sell or hold?

Ratos (publ) has no consensus analysts rating.

Ratos (publ) (RATO-B) - Fundamental Data Overview as of 24 October 2026
Market Cap USD = 1.28b (12.8b SEK * 0.1006 SEK.USD)
P/E Forward = 9.9404
P/S = 0.6643
P/B = 0.8537
P/EG = 2.1304
Revenue TTM = 23.2b SEK
EBIT TTM = 293.0m SEK
EBITDA TTM = 1.80b SEK
Long Term Debt = 4.23b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 939.0m SEK (from shortTermDebt, last quarter)
Debt = 11.4b SEK (from shortLongTermDebtTotal, last quarter) + Leases 3.58b
Net Debt = 9.65b SEK (calculated: Debt 11.4b - CCE 1.75b)
Enterprise Value = 22.4b SEK (12.8b + Debt 11.4b - CCE 1.75b)
Interest Coverage Ratio = 0.70 (Ebit TTM 293.0m / Interest Expense TTM 420.0m)
EV/FCF = 8.51x (Enterprise Value 22.4b / FCF TTM 2.63b)
FCF Yield = 11.75% (FCF TTM 2.63b / Enterprise Value 22.4b)
FCF Margin = 11.33% (FCF TTM 2.63b / Revenue TTM 23.2b)
Net Margin = -0.49% (Net Income TTM -114.0m / Revenue TTM 23.2b)
Gross Margin = 33.79% ((Revenue TTM 23.2b - Cost of Revenue TTM 15.4b) / Revenue TTM)
Gross Margin QoQ = 54.90% (prev 55.81%)
Tobins Q-Ratio = 0.78 (Enterprise Value 22.4b / Total Assets 28.9b)
Interest Expense / Debt = 3.68% (Interest Expense 420.0m / Debt 11.4b)
Taxrate = 10.81% (133.0m / 1.23b)
NOPAT = 261.3m (EBIT 293.0m * (1 - 10.81%))
Current Ratio = 1.44 (Total Current Assets 6.75b / Total Current Liabilities 4.70b)
Debt / Equity = 0.79 (Debt 11.4b / totalStockholderEquity, last quarter 14.4b)
Debt / EBITDA = 5.37 (Net Debt 9.65b / EBITDA 1.80b)
Debt / FCF = 3.67 (Net Debt 9.65b / FCF TTM 2.63b)
Total Stockholder Equity = 14.0b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.38% (Net Income -114.0m / Total Assets 28.9b)
RoE = -0.81% (Net Income TTM -114.0m / Total Stockholder Equity 14.0b)
RoCE = 1.60% (EBIT 293.0m / Capital Employed (Equity 14.0b + L.T.Debt 4.23b))
RoIC = 1.09% (NOPAT 261.3m / Invested Capital 24.0b)
WACC = 5.64% (E(12.8b)/V(24.2b) * Re(7.74%) + D(11.4b)/V(24.2b) * Rd(3.68%) * (1-Tc(0.11)))
Discount Rate = 7.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 26.90 | Cagr: 0.45%
[DCF] Terminal Value 75.29% ; FCFF base≈2.64b ; Y1≈2.63b ; Y5≈2.73b
[DCF] Fair Price = 135.6 (EV 42.6b - Net Debt 9.65b = Equity 32.9b / Shares 242.9m; r=8.35% [WACC [floored]]; 5y FCF grow -1.13% → 2.50% )
EPS Correlation: 50.16 | EPS CAGR: 15.65% | SUE: 0.10 | # QB: 0
Revenue Correlation: -96.52 | Revenue CAGR: -13.49% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.58 | Chg30d=+0.00% | Revisions=-40% | Analysts=3
EPS current Year (2026-12-31): EPS=4.07 | Chg30d=+1.15% | Revisions=+25% | GrowthEPS=+45.5% | GrowthRev=-21.3%
EPS next Year (2027-12-31): EPS=3.91 | Chg30d=+1.42% | Revisions=+25% | GrowthEPS=-4.0% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: +0% (up=2, down=2)