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Industrivarden AB Class C
(INDU.C)
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Rating:80Outperform
Price Target:
kr597.00
▲(45.18% Upside)
Action:Reiterated
Date:07/09/26
The score is driven primarily by strong financial performance (low leverage, expanding equity, and very high recent profitability) and an attractive valuation (low P/E). Technicals add support with a clear uptrend versus key moving averages and positive MACD, while historical volatility in revenue/earnings and uneven cash-flow quality keep the score from being higher.
Positive Factors
Conservative balance sheet
Low leverage and a steadily growing equity base provide financial resilience and flexibility. This supports continued portfolio ownership and capital allocation while reducing the holding company’s exposure to financing stress.
Negative Factors
Volatile revenue history
Uneven revenue performance reduces confidence that recent growth will persist. As an investment company, results depend on portfolio values, dividends, and realizations, which can produce materially inconsistent reported outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a steadily growing equity base provide financial resilience and flexibility. This supports continued portfolio ownership and capital allocation while reducing the holding company’s exposure to financing stress.
Read all positive factors
Industrivarden AB Class C (INDU.C) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr232.10B
Dividend Yield1.65%
Average Volume (3M)301.67K
Price to Earnings (P/E)3.6
Beta (1Y)1.20
Revenue Growth-0.22%
EPS Growth379.35%
CountrySE
Employees15
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)145.54
Shares Outstanding221,268,370
10 Day Avg. Volume307,264
30 Day Avg. Volume301,672
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.94
Price to Sales (P/S)5.02
P/FCF Ratio19.46
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)86.6
Revenue Forecast (FY)kr7.77B
Industrivarden AB Class C Business Overview & Revenue Model
Company Description
AB Industrivärden functions as a publicly traded investment management firm. Its primary focus is on allocating capital to public equity markets throughout the Nordic countries. The company constructs its portfolio using a fundamental analysis met...
How the Company Makes Money
Industrivärden makes money primarily from returns generated by its investment portfolio. The main recurring cash inflow typically comes from dividends received from its portfolio companies, which are then used to fund operating costs at the holdin...
Industrivarden AB Class C Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 42.86B | 35.69B | 12.92B | 27.20B | -13.88B | 26.73B |
| Gross Profit | 42.75B | 35.53B | 12.73B | 27.00B | -13.96B | 26.69B |
| EBITDA | 63.13B | 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 C Technical Analysis
Negative
411.20
Price Trends
535.76
Negative
522.27
Positive
488.79
Positive
Market Momentum
0.83
Positive
44.88
Neutral
21.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:INDU.C, the sentiment is Negative. The current price of 411.2 is below the 20-day moving average (MA) of 534.92, below the 50-day MA of 535.76, and below the 200-day MA of 488.79, indicating a neutral trend. The MACD of 0.83 indicates Positive momentum. The RSI at 44.88 is Neutral, neither overbought nor oversold. The STOCH value of 21.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:INDU.C.
Industrivarden AB Class C Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | kr6.69B | 9.46 | ― | 4.98% | -9.14% | 1.57% | |
80 Outperform | kr232.10B | 3.63 | 31.77% | 1.65% | -0.22% | 379.35% | |
78 Outperform | kr145.20B | 7.77 | 14.04% | 0.85% | -3.57% | 154.56% | |
77 Outperform | kr1.24T | 4.73 | 26.77% | 1.37% | 145.40% | 1023.77% | |
61 Neutral | kr12.22B | -109.41 | -0.81% | 3.76% | -33.02% | -140.00% | |
61 Neutral | kr23.21B | 4.66 | 24.04% | 0.87% | -3.49% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:INDU.C
Industrivarden AB Class C
528.80
162.45
44.34%
SE:INVE.A
Investor AB
398.40
107.66
37.03%
SE:LUND.B
L E Lundbergfoeretagen AB
579.50
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SE:RATO.B
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37.20
1.89
5.34%
SE:BURE
Bure Equity AB
315.80
41.82
15.26%
SE:ORES
Investment AB Oresund
146.60
35.18
31.57%
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.