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Industrivarden AB Class A
(INDU.A)
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Rating:73Outperform
Price Target:
kr563.00
▲(36.65% Upside)
Action:Reiterated
Date:10/12/26
The score is driven primarily by strong financial resilience (low leverage and solid ROE) and an attractive valuation (very low P/E). These positives are partially offset by weak near-term technicals (below major moving averages and negative MACD) and evidence of volatility in reported results along with a recent decline in free cash flow.
Positive Factors
Conservative balance sheet
Very low leverage limits financing pressure and gives Industrivärden flexibility to withstand portfolio setbacks, support debt service, and continue acting as a long-term owner. Steady growth in equity and assets further strengthens the company’s financial capacity over the next several quarters.
Negative Factors
Volatile reported results
Sharp swings in revenue and earnings make the company’s reported financial performance difficult to forecast across a two-to-six-month horizon. Because results reflect portfolio and valuation movements, profitability can weaken materially even when the balance sheet remains conservatively positioned.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage limits financing pressure and gives Industrivärden flexibility to withstand portfolio setbacks, support debt service, and continue acting as a long-term owner. Steady growth in equity and assets further strengthens the company’s financial capacity over the next several quarters.
Read all positive factors
Industrivarden AB Class A (INDU.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr224.83B
Dividend Yield1.68%
Average Volume (3M)101.42K
Price to Earnings (P/E)4.2
Beta (1Y)1.18
Revenue Growth-1.43%
EPS Growth290.11%
CountrySE
Employees15
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)145.54
Shares Outstanding210,630,740
10 Day Avg. Volume80,199
30 Day Avg. Volume101,415
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.94
Price to Sales (P/S)18.82
P/FCF Ratio19.48
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)56.5
Revenue Forecast (FY)kr9.05B
Industrivarden AB Class A Business Overview & Revenue Model
Company Description
AB Industrivärden (publ) is a publicly traded investment company that strategically allocates capital to publicly listed equities across the Nordic region. The firm's investment methodology is grounded in fundamental analysis, meticulously assessi...
How the Company Makes Money
Industrivärden makes money primarily through returns generated by its investment portfolio. Its main earnings sources are (1) dividends received from portfolio companies, which can be used to fund its own operating costs, debt service, and shareho...
Industrivarden AB Class A Financial Statement Overview
Summary
Income Statement
74
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 | 35.52B | 9.53B | 12.92B | 27.20B | -13.88B | 26.73B |
| Gross Profit | 35.43B | 9.53B | 12.73B | 27.00B | -13.96B | 26.69B |
| EBITDA | 63.14B | 35.66B | 12.72B | 26.99B | -13.98B | 26.68B |
| Net Income | 62.86B | 35.40B | 12.65B | 26.84B | -13.97B | 26.59B |
Balance Sheet | ||||||
| Total Assets | 231.37B | 198.90B | 167.44B | 158.53B | 134.76B | 150.75B |
| Cash, Cash Equivalents and Short-Term Investments | 3.93B | 1.34B | 843.00M | 869.00M | 795.00M | 697.00M |
| Total Debt | 6.28B | 7.28B | 7.79B | 8.20B | 8.18B | 7.22B |
| Total Liabilities | 7.07B | 7.88B | 8.27B | 8.65B | 8.58B | 7.67B |
| Stockholders Equity | 224.30B | 191.02B | 159.18B | 149.88B | 126.18B | 143.08B |
Cash Flow | ||||||
| Free Cash Flow | 9.22B | 9.21B | 8.29B | 6.06B | 5.24B | 6.99B |
| Operating Cash Flow | 9.22B | 9.21B | 8.29B | 6.06B | 5.24B | 6.99B |
| Investing Cash Flow | -4.11B | -4.65B | -4.57B | -2.85B | -3.18B | -2.26B |
| Financing Cash Flow | -3.78B | -4.06B | -3.75B | -3.13B | -1.96B | -4.03B |
Industrivarden AB Class A Technical Analysis
Positive
412.00
Price Trends
528.85
Negative
532.11
Negative
505.11
Positive
Market Momentum
-2.37
Negative
51.54
Neutral
88.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:INDU.A, the sentiment is Positive. The current price of 412 is below the 20-day moving average (MA) of 513.61, below the 50-day MA of 528.85, and below the 200-day MA of 505.11, indicating a neutral trend. The MACD of -2.37 indicates Negative momentum. The RSI at 51.54 is Neutral, neither overbought nor oversold. The STOCH value of 88.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:INDU.A.
Industrivarden AB Class A 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% | |
74 Outperform | kr6.70B | 5.32 | ― | 5.02% | -8.09% | 220.60% | |
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% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:INDU.A
Industrivarden AB Class A
522.00
132.63
34.06%
SE:INVE.A
Investor AB
419.10
109.26
35.26%
SE:LUND.B
L E Lundbergfoeretagen AB
582.00
81.84
16.36%
SE:BURE
Bure Equity AB
306.20
33.40
12.25%
SE:ORES
Investment AB Oresund
147.40
36.02
32.34%
SE:EQT
EQT AB
309.00
-12.41
-3.86%
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.