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NIBE Industrier AB
(NIBE.B)
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Rating:61Neutral
Price Target:
kr44.00
▲(3.43% Upside)
Action:Reiterated
Date:08/22/26
Overall score is driven primarily by solid-but-not-peak financial performance (recovered profitability but pressured gross margin, higher leverage, and weaker/uneven free-cash-flow conversion). Technicals add support with price above key moving averages and positive MACD, but the high P/E and low dividend yield weigh on the score.
Positive Factors
Energy-efficiency portfolio and diversification
The mix of heating systems, industrial components, and stoves diversifies end-market exposure. Its focus on energy efficiency and heat pumps also aligns with long-term electrification, retrofit, and building-efficiency demand.
Negative Factors
Modest growth and declining EPS
Low-single-digit revenue growth and declining EPS point to limited near-term operating leverage. Without stronger demand or productivity gains, the company may struggle to rebuild earnings toward its earlier profitability levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Energy-efficiency portfolio and diversification
The mix of heating systems, industrial components, and stoves diversifies end-market exposure. Its focus on energy efficiency and heat pumps also aligns with long-term electrification, retrofit, and building-efficiency demand.
Read all positive factors
NIBE Industrier AB (NIBE.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr89.71B
Dividend Yield0.79%
Average Volume (3M)7.21M
Price to Earnings (P/E)33.6
Beta (1Y)1.21
Revenue Growth2.06%
EPS Growth-1.71%
CountrySE
Employees20,500
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)1.31
Shares Outstanding1,782,936,200
10 Day Avg. Volume7,304,689
30 Day Avg. Volume7,209,722
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)2.37
Price to Sales (P/S)1.76
P/FCF Ratio19.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr40.67Price Target Upside-4.40% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)1.63
Revenue Forecast (FY)kr43.48B
NIBE Industrier AB Business Overview & Revenue Model
Company Description
NIBE Industrier AB (publ), a Swedish company established in Markaryd in 1949, specializes globally in the development, production, and distribution of energy-efficient solutions. These offerings primarily encompass indoor climate comfort systems a...
How the Company Makes Money
NIBE makes money primarily by manufacturing and selling products and systems across its three business areas. (1) NIBE Climate Solutions generates revenue from sales of heat pumps and complete heating/indoor-climate systems (and associated accesso...
NIBE Industrier AB Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.59B | 40.84B | 40.52B | 46.65B | 40.07B | 30.83B |
| Gross Profit | 13.41B | 14.44B | 10.97B | 15.62B | 12.61B | 10.20B |
| EBITDA | 6.53B | 6.27B | 5.04B | 9.01B | 7.45B | 5.83B |
| Net Income | 2.65B | 2.28B | 1.17B | 4.79B | 4.35B | 3.32B |
Balance Sheet | ||||||
| Total Assets | 69.11B | 65.06B | 70.41B | 68.10B | 53.99B | 43.39B |
| Cash, Cash Equivalents and Short-Term Investments | 5.36B | 5.46B | 5.61B | 4.28B | 4.82B | 4.75B |
| Total Debt | 23.34B | 21.83B | 24.34B | 22.47B | 11.14B | 9.78B |
| Total Liabilities | 36.78B | 34.77B | 38.27B | 37.90B | 26.02B | 21.74B |
| Stockholders Equity | 32.33B | 30.25B | 32.09B | 30.16B | 27.93B | 21.44B |
Cash Flow | ||||||
| Free Cash Flow | 2.92B | 3.72B | 1.83B | 110.00M | 373.00M | 1.94B |
| Operating Cash Flow | 4.94B | 4.89B | 4.01B | 3.83B | 2.61B | 3.26B |
| Investing Cash Flow | -2.44B | -2.94B | -2.85B | -12.60B | -2.78B | -2.01B |
| Financing Cash Flow | -3.77B | -1.49B | -64.00M | 8.35B | -151.00M | -1.50B |
NIBE Industrier AB Technical Analysis
Positive
42.54
Price Trends
39.03
Positive
38.99
Positive
37.49
Positive
Market Momentum
1.56
Negative
74.31
Negative
79.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NIBE.B, the sentiment is Positive. The current price of 42.54 is above the 20-day moving average (MA) of 41.70, above the 50-day MA of 39.03, and above the 200-day MA of 37.49, indicating a bullish trend. The MACD of 1.56 indicates Negative momentum. The RSI at 74.31 is Negative, neither overbought nor oversold. The STOCH value of 79.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:NIBE.B.
NIBE Industrier AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | kr29.40B | 20.74 | ― | 2.67% | 1.66% | 26.04% | |
71 Outperform | kr89.62B | 33.13 | 15.37% | 1.27% | 2.02% | -0.48% | |
70 Outperform | kr45.85B | 19.98 | 18.15% | 2.93% | 5.87% | 7.65% | |
62 Neutral | kr7.33B | 23.65 | ― | 2.20% | -10.56% | ― | |
61 Neutral | kr89.71B | 33.61 | 8.52% | 0.79% | 2.06% | -1.71% | |
59 Neutral | kr9.55B | 13.99 | 9.30% | 4.48% | -3.25% | 125.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:NIBE.B
NIBE Industrier AB
44.03
7.54
20.67%
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NIBE Industrier AB Corporate Events
NIBE lifts margins on sustained demand for sustainable heating
Aug 21, 2026
NIBE Industrier reported solid second-quarter 2026 results, with net sales rising 7.6% to SEK 10.85 billion and operating profit up to SEK 1.23 billion, lifting the operating margin to 11.4%. Profit after financial items climbed to SEK 1.03 billio...
NIBE Extends Profit Growth as Heat Pump and Element Businesses Gain Momentum
Aug 21, 2026
NIBE reported continued growth in net sales, operating profit and operating margin for the second quarter of 2026, marking six consecutive quarters of underlying organic improvement despite currency volatility and U.S. tariffs. Management says the...
NIBE Industrier Names Jonas Bjuhr Managing Director of Core Climate Unit
Aug 17, 2026
NIBE Industrier AB has appointed Jonas Bjuhr as the new Managing Director of NIBE AB in Markaryd, the group’s largest company and a core part of its Climate Solutions business. Bjuhr, who joins from Hydro where he held senior international r...
NIBE to buy Italian coffee machine heater maker Beltrami to bolster Element business
May 28, 2026
NIBE Industrier AB has agreed to acquire the business of Italian firm Beltrami Felice S.r.l., a leading supplier of highly automated heating solutions for commercial coffee machines in Europe. Beltrami, founded in 1949 in northern Italy and employ...
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.