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AddLife AB
(ALIF.B)
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Rating:72Outperform
Price Target:
kr186.00
▲(14.46% Upside)
Action:Upgraded
Date:07/17/26
Overall score is driven primarily by improving profitability and strong free-cash-flow generation, supported by a constructive earnings-call outlook for continued margin progress and disciplined leverage. Technicals add support with the stock trading above major moving averages. The main offset is valuation—P/E ~36 with a modest ~0.9% dividend yield—plus leverage still being a key risk despite improvement.
Positive Factors
Sustained Margin Expansion
Margin gains across both business areas, supported by price management and advanced products, indicate improving mix and operating leverage. Management expects margins to remain at the higher level and continue expanding.
Negative Factors
Meaningful Balance-Sheet Leverage
Leverage has improved but remains material for a medical supplies distributor, limiting financial flexibility if demand weakens or acquisitions require additional funding. Moderate obligation coverage makes continued cash and debt discipline important.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Margin Expansion
Margin gains across both business areas, supported by price management and advanced products, indicate improving mix and operating leverage. Management expects margins to remain at the higher level and continue expanding.
Read all positive factors
AddLife AB (ALIF.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr19.17B
Dividend Yield0.98%
Average Volume (3M)129.19K
Price to Earnings (P/E)31.4
Beta (1Y)0.79
Revenue Growth0.82%
EPS Growth77.45%
CountrySE
Employees2,360
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)4.88
Shares Outstanding117,877,460
10 Day Avg. Volume159,043
30 Day Avg. Volume129,189
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)3.56
Price to Sales (P/S)1.86
P/FCF Ratio17.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr180.00Price Target Upside10.77% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)4.38
Revenue Forecast (FY)kr10.89B
AddLife AB Business Overview & Revenue Model
Company Description
AddLife AB (publ), a company established in 1906 and headquartered in Stockholm, Sweden, specializes in delivering cutting-edge equipment, medical apparatus, and chemical reagents. Its primary clientele includes the healthcare sector, academic and...
How the Company Makes Money
AddLife makes money mainly by selling and distributing life science and medical technology products to professional customers, earning gross profit on the markup between purchase cost from manufacturers and sales price to end customers. Its key re...
AddLife AB Earnings Call Summary
Earnings Call Date:Jul 16, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 21, 2026
Earnings Call Sentiment Positive
The call emphasizes broad-based positive operational momentum: margin improvement across both business areas, solid organic growth (4%) augmented by acquisitions (3%), strong Labtech performance (7% currency-adjusted growth), improving cash conversion (~100%) and Home Care emerging as a meaningful growth and margin contributor. Headwinds are mainly timing and market-specific: doctor strikes in Spain, subdued UK capital spending, higher OpEx from growth and acquisitions, inventory timing effects, and increased net debt due to M&A and dividends. Overall, the positives—sustained margin expansion, cash generation and contributing acquisitions—outweigh the transitory market and timing challenges.Positive Updates
Improved Group Profitability
EBITA margin increased to 12.6% from 11.9% year-over-year, supported by an 11% EBITA growth in the quarter (organic EBITA growth 5% and acquisitions +6%). Profit before tax rose 29%.
Negative Updates
Doctor Strikes in Spain
Doctor strikes in Spain (roughly one week per month during the quarter) significantly reduced surgical procedures and acted as a notable drag on Medtech revenue and organic growth for the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Improved Group Profitability
EBITA margin increased to 12.6% from 11.9% year-over-year, supported by an 11% EBITA growth in the quarter (organic EBITA growth 5% and acquisitions +6%). Profit before tax rose 29%.
Read all positive updates
Company Guidance
The call emphasized continued margin expansion and disciplined balance‑sheet management: Q2 EBITA margin rose to 12.6% (from 11.9% LY) with Labtech at 13.4% (+1pp) and Medtech 12.8% (from 12.4%), and management expects margins to stay at this higher level and to continue improving (eye surgery aimed to reach double‑digit margins gradually). Growth was described as constructive but cautious — Q2 organic growth 4% with acquisitions +3% (revenue +6%), EBITA growth +11% (organic +5%, acquisitions +6%), Labtech currency‑adjusted growth 7%, Medtech organic 5%/acquired 2%, and Home Care (turnover ~SEK 700m, ~50% proprietary products) expected to keep strong growth and margin contribution. Financial priorities and guidance metrics include operating cash flow SEK 165m (vs SEK 119m LY) and LTM cash conversion ~100%, working capital SEK ‑149m (vs ‑180m), ~SEK 400m of acquisition/dividend cash outflows (net debt impact), -SEK 58m FX headwind, SEK 114m in earnout liabilities, leverage at 2.6x (comfortably below the ≤3x ambition) and net debt/equity 0.8x (below the internal 1.0 target), with a clear intent to accelerate M&A from a stronger pipeline.AddLife AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.53B | 10.44B | 10.29B | 9.69B | 9.08B | 7.99B |
| Gross Profit | 4.05B | 3.98B | 3.86B | 3.60B | 3.43B | 2.86B |
| EBITDA | 1.62B | 1.80B | 1.52B | 1.53B | 1.45B | 1.46B |
| Net Income | 598.00M | 560.00M | 252.00M | 190.00M | 480.00M | 719.00M |
Balance Sheet | ||||||
| Total Assets | 13.21B | 12.71B | 13.05B | 12.74B | 13.06B | 10.60B |
| Cash, Cash Equivalents and Short-Term Investments | 394.00M | 813.00M | 331.00M | 272.00M | 376.00M | 345.30M |
| Total Debt | 5.02B | 4.77B | 5.07B | 5.29B | 5.59B | 4.10B |
| Total Liabilities | 7.51B | 7.26B | 7.75B | 7.79B | 8.09B | 6.30B |
| Stockholders Equity | 5.69B | 5.44B | 5.31B | 4.96B | 4.97B | 4.29B |
Cash Flow | ||||||
| Free Cash Flow | 1.05B | 1.11B | 798.00M | 547.00M | 627.00M | 866.30M |
| Operating Cash Flow | 1.30B | 1.39B | 1.09B | 773.00M | 909.00M | 1.01B |
| Investing Cash Flow | -642.00M | -497.00M | -386.00M | -317.00M | -1.09B | -2.98B |
| Financing Cash Flow | -502.00M | -305.00M | -682.00M | -554.00M | 134.00M | 2.07B |
AddLife AB Technical Analysis
Negative
162.50
Price Trends
161.31
Negative
157.44
Negative
154.74
Negative
Market Momentum
-0.75
Positive
33.55
Neutral
7.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ALIF.B, the sentiment is Negative. The current price of 162.5 is above the 20-day moving average (MA) of 161.57, above the 50-day MA of 161.31, and above the 200-day MA of 154.74, indicating a bearish trend. The MACD of -0.75 indicates Positive momentum. The RSI at 33.55 is Neutral, neither overbought nor oversold. The STOCH value of 7.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ALIF.B.
AddLife AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | kr3.84B | 29.24 | 14.59% | 1.74% | -1.64% | -14.61% | |
72 Outperform | kr19.17B | 31.41 | 10.82% | 0.98% | 0.82% | 77.45% | |
71 Outperform | kr14.38B | 19.85 | 12.72% | 3.22% | -2.14% | -2.98% | |
65 Neutral | kr7.63B | 19.56 | 5.03% | 3.42% | -3.08% | -10.70% | |
55 Neutral | kr2.08B | 28.81 | ― | 1.62% | 25.46% | 39.03% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | kr560.70M | -67.29 | -2.84% | ― | -13.72% | 52.47% |
* Healthcare Sector Average
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AddLife AB Corporate Events
AddLife lifts margins and earnings on organic growth and acquisitions
Jul 16, 2026
AddLife AB reported a solid second quarter, with net sales rising 6% to SEK 2.7 billion and EBITA up 11%, lifting the EBITA margin to 12.6%. Organic growth reached 4% after adjusting for a divestment, while recent acquisitions, including Austria-b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.