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Instalco AB
(INSTAL)
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Rating:66Neutral
Price Target:
kr40.00
▲(8.17% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by moderate financial performance: strong gross profitability and healthy free cash flow, but constrained by thin/volatile net margins and historically elevated leverage despite recent debt reduction. Technicals add support with a clear uptrend and constructive momentum. Valuation is the main offset, with a high P/E and only a modest dividend yield.
Positive Factors
Strong gross and EBITDA margins
Strong gross profitability and a solid EBITDA margin indicate that Instalco retains value from its technical installation expertise. This provides a base for absorbing wage, material and project-cost pressures over the medium term.
Negative Factors
Elevated leverage remains a constraint
Although debt has fallen sharply, leverage remains elevated for a cyclical, project-driven business. This can restrict financial flexibility and increase vulnerability if construction activity weakens or project execution requires more working capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong gross and EBITDA margins
Strong gross profitability and a solid EBITDA margin indicate that Instalco retains value from its technical installation expertise. This provides a base for absorbing wage, material and project-cost pressures over the medium term.
Read all positive factors
Instalco AB (INSTAL) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr10.12B
Dividend Yield1.3%
Average Volume (3M)452.04K
Price to Earnings (P/E)26.8
Beta (1Y)0.96
Revenue Growth4.03%
EPS Growth38.99%
CountrySE
Employees6,291
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.44
Shares Outstanding268,754,760
10 Day Avg. Volume258,536
30 Day Avg. Volume452,039
Financial Highlights & Ratios
PEG Ratio-8.83
Price to Book (P/B)2.15
Price to Sales (P/S)0.51
P/FCF Ratio7.47
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)2.13
Revenue Forecast (FY)kr15.13B
Instalco AB Business Overview & Revenue Model
Company Description
Instalco AB (publ) delivers a broad spectrum of technical installation services throughout Sweden and the broader Nordic region. The company's expertise spans heating and plumbing, electrical systems, ventilation, and industrial cooling. For heati...
How the Company Makes Money
Instalco primarily makes money by selling project-based installation work and recurring service/maintenance work through its portfolio of local specialist subsidiaries. Revenue is typically generated from (1) contract projects where Instalco’s sub...
Instalco AB Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.11B | 13.60B | 13.69B | 14.28B | 12.06B | 8.89B |
| Gross Profit | 7.43B | 7.11B | 7.23B | 7.06B | 5.88B | 4.34B |
| EBITDA | 1.34B | 1.09B | 1.24B | 1.46B | 1.13B | 913.00M |
| Net Income | 424.00M | 343.00M | 345.00M | 601.00M | 520.00M | 546.00M |
Balance Sheet | ||||||
| Total Assets | 10.58B | 10.27B | 10.31B | 10.72B | 9.57B | 7.59B |
| Cash, Cash Equivalents and Short-Term Investments | 4.00M | 348.00M | 208.00M | 267.00M | 631.00M | 696.00M |
| Total Debt | 721.00M | 3.79B | 3.66B | 3.72B | 3.13B | 2.34B |
| Total Liabilities | 6.86B | 6.87B | 6.93B | 7.33B | 6.42B | 5.09B |
| Stockholders Equity | 3.49B | 3.23B | 3.21B | 3.21B | 2.94B | 2.48B |
Cash Flow | ||||||
| Free Cash Flow | 922.00M | 927.00M | 821.00M | 917.00M | 689.00M | 584.00M |
| Operating Cash Flow | 922.00M | 1.01B | 946.00M | 999.00M | 753.00M | 610.00M |
| Investing Cash Flow | -256.00M | -348.00M | -297.00M | -1.29B | -1.08B | -971.00M |
| Financing Cash Flow | -1.10B | -487.00M | -706.00M | -85.00M | 240.00M | 657.00M |
Instalco AB Technical Analysis
Positive
36.98
Price Trends
37.60
Positive
38.05
Negative
33.07
Positive
Market Momentum
0.05
Negative
51.51
Neutral
67.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:INSTAL, the sentiment is Positive. The current price of 36.98 is below the 20-day moving average (MA) of 37.08, below the 50-day MA of 37.60, and above the 200-day MA of 33.07, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 51.51 is Neutral, neither overbought nor oversold. The STOCH value of 67.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:INSTAL.
Instalco AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | kr112.39B | 17.10 | 10.96% | 5.13% | -5.70% | 6.78% | |
77 Outperform | kr29.16B | 20.39 | ― | 2.71% | 1.66% | 26.04% | |
71 Outperform | kr29.41B | 13.63 | 12.81% | 3.34% | 2.19% | 36.51% | |
66 Neutral | kr10.12B | 26.75 | 12.77% | 1.30% | 4.03% | 38.99% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
49 Neutral | kr2.17B | 61.64 | 2.32% | 0.25% | 0.40% | ― | |
48 Neutral | kr16.09B | 229.75 | 1.00% | 6.16% | -10.38% | -95.01% |
* Industrials Sector Average
SE:INSTAL
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Instalco AB Corporate Events
Instalco Wins SEK 30m Building Automation Framework Deal with Region Blekinge
Aug 19, 2026
Instalco’s subsidiary Inmatiq has signed a two-year framework agreement, with an option for a two-year extension, to deliver building automation services to Region Blekinge in southern Sweden. The estimated contract value is around SEK 30 mi...
Instalco boosts earnings, expands German platform and bets on AI
Jul 17, 2026
Instalco reported solid growth for the first half of 2026, with net sales rising 7.5 percent to SEK 7.3 billion and EBITA climbing 36.7 percent, lifting the margin to 6.5 percent. The second quarter showed particularly strong organic growth and im...
Instalco Takes Majority Stake in Germany’s Fabri to Boost Regional Growth
Jul 16, 2026
Instalco has increased its stake in German installation group Fabri AG by 27 percentage points to 51 percent, becoming majority owner and solidifying its platform for long-term growth in Germany. Fabri, which operates 23 subsidiaries with about 80...
Instalco lands SEK 45 million sustainable hotel installation contract in Sälen
Jul 2, 2026
Instalco has secured a SEK 45 million contract from Consto to design and install electrical, heating and plumbing, and automation systems for Scandic’s new mountain hotel in Sälen, Sweden. The work is being carried out collaboratively b...
Instalco Extends SEK 3.4 Billion Credit Facility to 2028
Jun 29, 2026
Instalco AB has exercised a one-year extension option on its existing credit facility agreement with Danske Bank A.S., Skandinaviska Enskilda Banken AB and AB Svensk Exportkredit, maintaining the total facility at SEK 3.4 billion. The extended fac...
Instalco schedules Q2 2026 results release and investor presentation
Jun 25, 2026
Instalco AB will publish its interim report for the second quarter of 2026 on 17 July at around 07:30 CET, and senior management will present the results later that morning. President and CEO Per Sjöstrand and CFO Christina Kassberg will host...
Instalco Wins NOK 112 Million Electrical Contract for Oslo’s Fiskebrygga Office Project
Jun 9, 2026
Instalco’s Norwegian subsidiaries Romerike Elektro and Bakke El-Installasjon have secured a NOK 112 million contract with Veidekke Entreprenør for electrical and photovoltaic installations at the new Fiskebrygga office building in centr...
Instalco unit wins NOK 46 million school project contract in Norway
May 28, 2026
Instalco subsidiary Romerike Elektro AS has secured a NOK 46 million contract to handle electrical installations for a new school north of Oslo, working on behalf of Skanska Norge and Gjerdum Municipality. The broader Oppvekstjordet development al...
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.