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AQ Group AB
(AQ)
Select Model
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Rating:71Outperform
Price Target:
kr265.00
▲(22.01% Upside)
Action:Reiterated
Date:10/17/26
The score is driven primarily by strong financial quality—especially the low-leverage balance sheet and solid profitability—alongside a positive technical trend. These positives are tempered by a premium valuation (high P/E, low yield) and watch-items around gross-margin swings and softer near-term cash-flow momentum.
Positive Factors
Conservative balance sheet
AQ’s very low leverage and steadily growing equity provide financial resilience and flexibility. The company can support operations and pursue investment with less dependence on borrowing, while healthy returns on equity indicate that profitability is not being created through excessive balance-sheet risk.
Negative Factors
Gross-margin volatility
Large swings in gross margin make AQ’s underlying profitability harder to forecast and raise questions about product mix, one-off effects, or reporting consistency. This volatility can reduce confidence in the durability of current margins even while EBIT and net margins remain solid.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
AQ’s very low leverage and steadily growing equity provide financial resilience and flexibility. The company can support operations and pursue investment with less dependence on borrowing, while healthy returns on equity indicate that profitability is not being created through excessive balance-sheet risk.
Read all positive factors
AQ Group AB (AQ) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr21.65B
Dividend Yield0.76%
Average Volume (3M)129.34K
Price to Earnings (P/E)28.7
Beta (1Y)1.22
Revenue Growth10.71%
EPS Growth13.62%
CountrySE
Employees7,885
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)8.22
Shares Outstanding91,732,790
10 Day Avg. Volume127,380
30 Day Avg. Volume129,338
Financial Highlights & Ratios
PEG Ratio17.66
Price to Book (P/B)3.87
Price to Sales (P/S)1.99
P/FCF Ratio26.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.8
Revenue Forecast (FY)kr10.22B
AQ Group AB Business Overview & Revenue Model
Company Description
AQ Group AB (publ) is a Swedish enterprise specializing in the manufacturing and distribution of industrial components and systems. The company serves a diverse client base across Sweden, other European nations, and globally. Its operations are st...
How the Company Makes Money
AQ makes money primarily by manufacturing and delivering industrial components, assemblies, and complete subsystems to business customers under contract-manufacturing and build-to-print/build-to-spec arrangements. Revenue is generated when custome...
AQ Group AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.82B | 9.07B | 8.55B | 8.97B | 7.05B | 5.47B |
| Gross Profit | 2.88B | 804.00M | 4.29B | 741.00M | 3.29B | 2.67B |
| EBITDA | 1.28B | 1.18B | 1.16B | 1.08B | 769.00M | 691.00M |
| Net Income | 755.00M | 676.00M | 665.00M | 632.00M | 410.00M | 366.00M |
Balance Sheet | ||||||
| Total Assets | 7.90B | 6.91B | 6.57B | 5.96B | 5.70B | 4.70B |
| Cash, Cash Equivalents and Short-Term Investments | 904.00M | 992.00M | 919.00M | 426.00M | 231.00M | 283.00M |
| Total Debt | 436.00M | 565.00M | 635.00M | 717.00M | 1.04B | 844.00M |
| Total Liabilities | 2.55B | 2.22B | 2.16B | 2.20B | 2.52B | 2.07B |
| Stockholders Equity | 5.33B | 4.67B | 4.39B | 3.74B | 3.16B | 2.62B |
Cash Flow | ||||||
| Free Cash Flow | 502.00M | 680.00M | 1.01B | 727.00M | -80.00M | 46.00M |
| Operating Cash Flow | 754.00M | 921.00M | 1.20B | 980.00M | 208.00M | 238.00M |
| Investing Cash Flow | -380.00M | -307.00M | -265.00M | -252.00M | -283.00M | -391.00M |
| Financing Cash Flow | -462.00M | -509.00M | -448.00M | -528.00M | 12.00M | -26.00M |
AQ Group AB Technical Analysis
Positive
217.20
Price Trends
227.89
Positive
221.04
Positive
211.76
Positive
Market Momentum
0.56
Positive
49.62
Neutral
11.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AQ, the sentiment is Positive. The current price of 217.2 is below the 20-day moving average (MA) of 237.11, below the 50-day MA of 227.89, and above the 200-day MA of 211.76, indicating a neutral trend. The MACD of 0.56 indicates Positive momentum. The RSI at 49.62 is Neutral, neither overbought nor oversold. The STOCH value of 11.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:AQ.
AQ Group AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr21.65B | 28.71 | 15.15% | 0.76% | 10.71% | 13.62% | |
69 Neutral | kr23.55B | 33.25 | 23.70% | 1.03% | 11.13% | 16.93% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr83.68B | 36.21 | 28.37% | 1.16% | 4.32% | 15.23% | |
60 Neutral | kr25.96B | 33.19 | 18.20% | 0.95% | 8.13% | 32.45% | |
58 Neutral | kr6.87B | 26.08 | 13.53% | 1.62% | 1.00% | ― | |
47 Neutral | kr8.69B | 271.48 | 1.59% | 1.78% | -0.27% | -89.49% |
* Industrials Sector Average
SE:AQ
AQ Group AB
236.00
43.82
22.80%
SE:ADDT.B
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SE:TROAX
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145.20
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SE:BERG.B
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259.00
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SE:OEM.B
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169.60
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10.43%
SE:BUFAB
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136.40
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32.49%
AQ Group AB Corporate Events
AQ Group Delivers Double-Digit Profit and Revenue Growth in Q3 2026
Oct 15, 2026
AQ Group AB reported strong growth for the third quarter of 2026, with net sales rising 21% to SEK 2,566 million and operating profit up 36% to SEK 259 million, lifting the pre-tax margin to 10%. Earnings per share increased to SEK 2.23, while ope...
AQ Group appoints Nomination Committee ahead of 2027 AGM
Oct 14, 2026
AQ Group AB, a Västerås-based industrial manufacturer of components and systems for demanding customers, operates through specialized subsidiaries across Europe, Asia, and the Americas. Listed on Nasdaq Stockholm’s main market, the...
AQ Group expands U.S. inductive components footprint with Norlake asset acquisition
Sep 22, 2026
AQ Group has acquired certain operating assets and related real estate from U.S. transformer and inductor maker Norlake in Cleveland, Ohio, paying USD 1.4 million and assuming roughly USD 12 million of liabilities, for properties estimated to be w...
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.