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EQT AB
(EQT)
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Rating:65Neutral
Price Target:
kr303.00
â–Ľ(-10.06% Downside)
Action:Reiterated
Date:10/15/26
The score is anchored by solid financial fundamentals and a very constructive earnings outlook (raised fundraising guidance and strong platform momentum). These positives are tempered by notably weak technical setup (price below major moving averages with negative MACD) and a relatively high P/E with only modest dividend support.
Positive Factors
Fundraising momentum
Higher fundraising guidance and market-share gains support durable growth in fee-paying assets and recurring management fees. This is especially notable because EQT achieved the momentum while global industry fundraising declined, strengthening its competitive position over the next several quarters.
Negative Factors
Uncertain exit environment
Delayed or selective exits can defer realizations, reduce the timing and visibility of carried-interest income, and slow distributions to fund investors. A prolonged exit cycle may also postpone fundraising recycling and make earnings more volatile across upcoming reporting periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Fundraising momentum
Higher fundraising guidance and market-share gains support durable growth in fee-paying assets and recurring management fees. This is especially notable because EQT achieved the momentum while global industry fundraising declined, strengthening its competitive position over the next several quarters.
Read all positive factors
EQT AB (EQT) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr386.11B
Dividend Yield1.5%
Average Volume (3M)1.67M
Price to Earnings (P/E)32.2
Beta (1Y)1.08
Revenue Growth-18.18%
EPS Growth20.49%
CountrySE
Employees1,895
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)0.87
Shares Outstanding1,306,963,700
10 Day Avg. Volume1,640,099
30 Day Avg. Volume1,665,188
Financial Highlights & Ratios
PEG Ratio-11.70
Price to Book (P/B)5.24
Price to Sales (P/S)14.97
P/FCF Ratio99.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr395.00Price Target Upside17.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.23
Revenue Forecast (FY)kr3.05B
EQT AB Business Overview & Revenue Model
Company Description
EQT AB (publ) operates as a private equity firm, specializing primarily in buyout investments. The company directs its strategic focus towards opportunities within the Private Capital and Real Asset segments, pursuing a global investment footprint...
How the Company Makes Money
EQT primarily makes money by earning fees and performance-related compensation from the alternative investment funds and vehicles it manages.
1) Management fees (recurring fee income): EQT earns ongoing management fees for managing funds and inve...
EQT AB Earnings Call Summary
Earnings Call Date:Oct 15, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 26, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with substantial fundraising momentum, higher cycle guidance, strong fund and portfolio performance, rapid growth in AI infrastructure, successful completion of the Coller acquisition and expansion through Stockbridge. The main challenges were a weaker industry fundraising backdrop, selective and difficult-to-time exits, lower fee rates in newer strategies, and comparatively lower real estate margins. Management maintained or reiterated its key outlooks despite these constraints.Positive Updates
EQT Reaches Third-Largest Global Private Markets Position
Following the acquisition of Coller Capital, EQT is now the third-largest private markets firm globally and, by a distance, the largest non-U.S. firm. EQT is also the only firm in the global top 20 without a private credit platform.
Negative Updates
Industry Fundraising Environment Remains Challenging
Global fundraising volumes for the private markets industry declined 13% over the last 12 months, even though EQT said it continued to gain market share.
Read all updates
Q3-2026 Updates
Positive
Negative
EQT Reaches Third-Largest Global Private Markets Position
Following the acquisition of Coller Capital, EQT is now the third-largest private markets firm globally and, by a distance, the largest non-U.S. firm. EQT is also the only firm in the global top 20 without a private credit platform.
Read all positive updates
Company Guidance
EQT expects fundraising of EUR 140 billion in this cycle, compared to EUR 100 billion previously communicated, with investor demand for the Scaleup Europe Fund expected to significantly surpass the EUR 5 billion target fund size; EQT XI is expected to be activated within the next few months and before year-end, Infrastructure VII around year-end with an early close in December and a first close in H1 2027, and CIP X early 2027. For 2027, Stockbridge is expected to have USD 17 billion to USD 19 billion of fee-paying AUM, USD 120 million to USD 130 million of management fees and USD 35 million to USD 45 million of fee-related EBITDA, with fee-related EBITDA expected to grow by 15% to 20% annually and the transaction expected to close in Q1 2027; in a 15% to 20% growth scenario through 2030, fee-related EBITDA could reach around EUR 70 million, implying a purchase price of EUR 550 million and a multiple of around 8x with the full earnout. The AI infrastructure fund is expected to see continued strong growth, with EdgeConneX contracted capacity expected to reach around 3.5 gigawatts by the end of 2026 versus around 1.3 gigawatts at the end of 2025, and EQT expects continued sell-downs from Infrastructure IV and V into the fund. EQT expects Evergreen gross inflows of approximately EUR 2.5 billion in the second half, with EUR 1.4 billion needed in the fourth quarter, expects H2 investment income and carry to be proxied by H1 levels, and expects the previous guidance for 2027 to hold despite Stockbridge.EQT AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.73B | 2.63B | 2.65B | 2.08B | 1.50B | 1.60B |
| Gross Profit | 1.78B | 1.35B | 1.81B | 1.38B | 995.80M | 1.23B |
| EBITDA | 1.72B | 1.48B | 1.55B | 1.13B | 779.90M | 1.07B |
| Net Income | 1.03B | 728.00M | 776.00M | 129.90M | 176.30M | 909.40M |
Balance Sheet | ||||||
| Total Assets | 11.73B | 11.37B | 11.48B | 9.21B | 9.60B | 3.89B |
| Cash, Cash Equivalents and Short-Term Investments | 3.69B | 6.15B | 5.33B | 1.11B | 644.90M | 587.90M |
| Total Debt | 2.64B | 2.65B | 2.22B | 2.15B | 2.15B | 614.00M |
| Total Liabilities | 3.98B | 3.85B | 3.38B | 3.20B | 3.20B | 948.90M |
| Stockholders Equity | 7.75B | 7.51B | 8.10B | 6.00B | 6.40B | 2.94B |
Cash Flow | ||||||
| Free Cash Flow | 1.21B | 395.00M | 447.00M | 921.20M | 518.20M | 596.70M |
| Operating Cash Flow | 1.23B | 408.72M | 464.00M | 944.80M | 549.20M | 608.20M |
| Investing Cash Flow | -50.78M | -62.14M | -2.00M | -38.80M | -1.55B | -895.20M |
| Financing Cash Flow | -786.72M | -375.92M | -574.00M | -415.20M | 1.15B | -20.30M |
EQT AB Technical Analysis
Positive
336.90
Price Trends
302.92
Positive
304.39
Positive
302.52
Positive
Market Momentum
2.25
Negative
61.86
Neutral
88.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:EQT, the sentiment is Positive. The current price of 336.9 is above the 20-day moving average (MA) of 293.13, above the 50-day MA of 302.92, and above the 200-day MA of 302.52, indicating a bullish trend. The MACD of 2.25 indicates Negative momentum. The RSI at 61.86 is Neutral, neither overbought nor oversold. The STOCH value of 88.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:EQT.
EQT AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | kr1.30T | 6.09 | 20.83% | 1.30% | 1.50% | 204.93% | |
78 Outperform | kr144.34B | 7.81 | 14.04% | 0.84% | -3.57% | 154.56% | |
73 Outperform | kr224.83B | 4.19 | 25.59% | 1.68% | -1.43% | 290.11% | |
65 Neutral | kr386.11B | 32.18 | ― | 1.50% | -18.18% | 20.49% | |
61 Neutral | kr22.72B | 4.52 | 24.04% | 0.90% | -3.49% | ― | |
57 Neutral | kr13.28B | -56.44 | -1.68% | 3.44% | -23.16% | -128.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:EQT
EQT AB
309.00
-15.76
-4.85%
SE:INDU.A
Industrivarden AB Class A
522.00
133.21
34.26%
SE:INVE.A
Investor AB
419.10
110.54
35.82%
SE:LUND.B
L E Lundbergfoeretagen AB
582.00
77.38
15.33%
SE:RATO.B
Ratos AB
40.64
3.72
10.07%
SE:BURE
Bure Equity AB
306.20
30.24
10.96%
EQT AB Corporate Events
EQT steps up global expansion with Stockbridge deal and strong Q3 fundraising
Oct 15, 2026
EQT AB reported strong momentum in the third quarter of 2026, underpinned by the completion of its combination with Coller Capital, now operating as Coller EQT, and an agreement to acquire Stockbridge, a leading U.S. real estate investment manager...
EQT AB Sets Nomination Committee Ahead of 2027 Shareholders’ Meeting
Oct 9, 2026
EQT AB has appointed its Nomination Committee for the 2027 Annual Shareholders’ Meeting, based on the ownership structure as of 31 August 2026. The committee is chaired by Jacob Wallenberg, with members representing major shareholders includ...
EQT AB Updates Share Count After Coller Capital Combination
Sep 30, 2026
EQT AB has increased its number of shares and votes following the closing of its combination with Coller Capital on 31 August 2026. As part of the consideration for the deal, EQT issued 80,360,882 new ordinary shares to Coller Capital’s sell...
EQT AB Reports Sustained Morning Share Buybacks on Nasdaq Stockholm
Aug 31, 2026
EQT AB disclosed a series of buy transactions in its own shares on Nasdaq Stockholm on August 24, 2026, with volumes typically in the low hundreds and prices clustered around SEK 335–338. The data shows sustained purchasing activity througho...
EQT Seals Coller Capital Deal to Build Global Secondaries Powerhouse
Aug 31, 2026
EQT has completed its acquisition of Coller Capital, rebranding the secondaries specialist as Coller EQT and creating a new Secondaries business segment alongside its existing private markets franchises. The deal lifts EQT’s total assets und...
EQT AB Steps Up Share Buybacks as Repurchase Programme Nears SEK 1 Billion
Aug 24, 2026
EQT AB has continued its share buyback programme on Nasdaq Stockholm, repurchasing 542,055 ordinary shares during the week of 17–21 August 2026 for a total of about SEK 182.8 million. The transactions, executed by Skandinaviska Enskilda Bank...
EQT steps up share buybacks as repurchase program advances
Aug 17, 2026
EQT AB has continued executing its share repurchase program, buying 643,000 ordinary shares on Nasdaq Stockholm during week 33 for a total consideration of about SEK 222.7 million. The transactions, carried out by Skandinaviska Enskilda Banken on ...
Steady Morning Accumulation Supports EQT AB Share Price on Nasdaq Stockholm
Aug 10, 2026
A series of small but frequent buy transactions were executed in EQT AB shares on Nasdaq Stockholm on 3 August 2026, with volumes typically in the low hundreds and prices fluctuating around SEK 326–331 in the morning session. The pattern sug...
EQT Steps Up Share Buybacks as Repurchase Program Passes 1.2 Million Shares
Aug 3, 2026
EQT AB has continued its share buyback program, repurchasing 582,510 ordinary shares on Nasdaq Stockholm during the week of 27–31 July 2026 at a weighted average price of SEK 321.55, for a total of about SEK 187.3 million. These transactions...
EQT AB Accelerates SEK 2.5 Billion Share Buyback Program
Jul 27, 2026
EQT AB has begun executing a previously announced share repurchase program, buying back 622,778 ordinary shares on Nasdaq Stockholm between 20 and 24 July 2026 for a total consideration of about SEK 195.4 million. The buybacks, conducted by Skandi...
EQT AB boosts AUM, expands strategies and profits in first half of 2026
Jul 17, 2026
EQT AB reported strong operational and financial progress in the first half of 2026, with fee-generating assets under management rising to €155bn and total AUM reaching €291bn. The firm continues to see key private capital and infrastr...
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.