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Nolato AB
(NOLA.B)
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Rating:67Neutral
Price Target:
kr57.00
▲(10.04% Upside)
Action:Reiterated
Date:07/21/26
The score is driven primarily by solid financial strength (improving profitability and conservative leverage) and a generally positive but margin-pressured earnings outlook with strong cash generation. These positives are partially offset by weak technical momentum (price below major moving averages with negative MACD) and cash flow/revenue variability, while valuation is supportive with a mid-teens P/E and ~3.6% dividend yield.
Positive Factors
Conservative balance sheet
Deleveraging and substantial equity provide financial flexibility through changing demand conditions. Low leverage should support continued investment, capacity expansion and potential acquisitions while reducing the balance-sheet burden on future operating cash flow.
Negative Factors
Sustained margin pressure
The decline in EBITA margin shows that growth is not currently translating fully into operating profit. Raw-material inflation and Medical ramp-up costs may continue to weigh on profitability until pricing actions, production efficiency and program volumes offset these pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Deleveraging and substantial equity provide financial flexibility through changing demand conditions. Low leverage should support continued investment, capacity expansion and potential acquisitions while reducing the balance-sheet burden on future operating cash flow.
Read all positive factors
Nolato AB (NOLA.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr14.14B
Dividend Yield3.23%
Average Volume (3M)219.60K
Price to Earnings (P/E)19.8
Beta (1Y)0.73
Revenue Growth-2.14%
EPS Growth-2.98%
CountrySE
Employees5,692
SectorHealthcare
Sector Strength45
IndustryIndustrial - Specialties
Share Statistics
EPS (TTM)2.66
Shares Outstanding241,786,940
10 Day Avg. Volume170,998
30 Day Avg. Volume219,605
Financial Highlights & Ratios
PEG Ratio1.19
Price to Book (P/B)3.01
Price to Sales (P/S)1.76
P/FCF Ratio59.88
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)2.81
Revenue Forecast (FY)kr9.78B
Nolato AB Business Overview & Revenue Model
Company Description
Nolato AB (publ) is a Swedish enterprise that specializes in the creation, manufacturing, and commercialization of polymer-based products, utilizing plastics, silicones, and thermoplastic elastomers. Its extensive portfolio serves a diverse array ...
How the Company Makes Money
Nolato makes money mainly by acting as a contract manufacturer and development partner, earning revenue from producing and supplying customer-specific polymer components, subassemblies, and finished products. Its core revenue streams typically inc...
Nolato AB Earnings Call Summary
Earnings Call Date:Jul 17, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presents a generally positive operational picture with continued top-line growth (currency-adjusted), strong cash generation, a notable 19% materials surge, and progress on strategic capacity expansions (Hungary, Malaysia, Poland). These positives are tempered by margin pressure from higher raw material costs (~SEK 20m), start-up costs in Medical (~SEK 10m), a SEK 6m severance item and somewhat elevated group costs related to M&A activity. Segment-specific soft patches (hygiene and automotive) and a modest dip in ROCE were noted but appear manageable given the strong balance sheet and stated ability to pass on costs and ramp volumes. Overall, the highlights outweigh the lowlights, driven by growth, cash flow and a strong balance sheet enabling future M&A and capacity build-out.Positive Updates
Revenue Growth and Total Sales
Net sales of SEK 2,454 million (close to SEK 2.5 billion) in Q2; reported 4% currency-adjusted growth for the quarter with group-level organic growth commentary from management.
Negative Updates
EBITA Decline and Margin Pressure
Group EBITA decreased to SEK 247 million from SEK 277 million year-on-year. EBITA margin fell to 10.1% from 11.6%, reflecting lower profitability in the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Total Sales
Net sales of SEK 2,454 million (close to SEK 2.5 billion) in Q2; reported 4% currency-adjusted growth for the quarter with group-level organic growth commentary from management.
Read all positive updates
Company Guidance
Management guided that Q2 delivered currency‑adjusted group sales growth of 4% with net sales of SEK 2,454m (~SEK 2.5bn), EBITA SEK 247m (down from SEK 277m) and an EBITA margin of 10.1% (vs 11.6% prior); Medical Solutions posted ~SEK 1.4bn in sales (+4% adj.) with an 11.7% EBITA margin and c. SEK 10m of start‑up drag, while Engineered Solutions reached ~SEK 1.1bn (+3% adj.) with a 10.3% margin and materials organic growth of 19%; management flagged a raw‑material/oil price headwind of about SEK 20m (mostly in Engineered), two‑thirds of which was absorbed in Q2 with the remainder expected in early Q3, plus a one‑off severance cost of SEK 6m; net investments fell to SEK 133m (vs SEK 188m), full‑year CapEx is guided at SEK 600–650m, cash flow in the quarter was strong (SEK 287m) with cash flow after investments for H1 SEK 154m (vs 128m), net financial liabilities excl. pensions SEK 1,055m (net debt/EBITA 0.7x) and ROCE 13.3% (down from 14.2%), the balance sheet is described as strong to support an intensified M&A agenda, GLP‑1 commercial volumes have started with a gradual ramp to full volumes by 2029, and the materials business is characterized as capital‑light with no immediate capacity cap.Nolato AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
79
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.43B | 9.46B | 9.66B | 9.55B | 10.77B | 11.61B |
| Gross Profit | 1.70B | 1.73B | 1.61B | 1.34B | 1.43B | 1.82B |
| EBITDA | 1.55B | 1.59B | 1.51B | 1.28B | 1.48B | 1.92B |
| Net Income | 716.00M | 777.00M | 658.00M | 435.00M | 697.00M | 1.16B |
Balance Sheet | ||||||
| Total Assets | 10.04B | 9.28B | 9.69B | 9.30B | 10.01B | 10.05B |
| Cash, Cash Equivalents and Short-Term Investments | 482.00M | 482.00M | 672.00M | 688.00M | 1.01B | 1.45B |
| Total Debt | 1.11B | 1.45B | 1.53B | 1.88B | 2.03B | 1.79B |
| Total Liabilities | 4.36B | 3.75B | 3.95B | 4.13B | 4.62B | 5.29B |
| Stockholders Equity | 5.67B | 5.53B | 5.74B | 5.17B | 5.39B | 4.77B |
Cash Flow | ||||||
| Free Cash Flow | 752.00M | 278.00M | 742.00M | 355.00M | -49.00M | 446.00M |
| Operating Cash Flow | 1.12B | 1.06B | 1.38B | 781.00M | 406.00M | 1.23B |
| Investing Cash Flow | -655.00M | -788.00M | -636.00M | -444.00M | -451.00M | -782.00M |
| Financing Cash Flow | -479.00M | -390.00M | -798.00M | -631.00M | -487.00M | -634.00M |
Nolato AB Technical Analysis
Neutral
51.80
Price Trends
50.43
Positive
49.75
Positive
51.47
Positive
Market Momentum
0.64
Positive
54.55
Neutral
26.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NOLA.B, the sentiment is Neutral. The current price of 51.8 is below the 20-day moving average (MA) of 52.58, above the 50-day MA of 50.43, and above the 200-day MA of 51.47, indicating a neutral trend. The MACD of 0.64 indicates Positive momentum. The RSI at 54.55 is Neutral, neither overbought nor oversold. The STOCH value of 26.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NOLA.B.
Nolato AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | kr6.83B | 30.65 | 12.00% | 1.60% | -1.23% | ― | |
73 Outperform | kr137.99B | 36.13 | 19.63% | 0.88% | 7.24% | 12.86% | |
72 Outperform | kr19.46B | 33.20 | 10.82% | 0.93% | 0.82% | 77.45% | |
71 Outperform | kr7.89B | 88.11 | 4.13% | ― | 8.79% | -20.48% | |
67 Neutral | kr14.14B | 19.77 | 12.72% | 3.23% | -2.14% | -2.98% | |
67 Neutral | kr7.64B | 19.94 | 5.03% | 3.35% | -3.08% | -10.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Nolato AB Corporate Events
Nolato boosts Medical Solutions arm with acquisition of Dutch CDMO Unitron
Sep 1, 2026
Nolato AB has agreed to acquire Dutch medical technology CDMO Unitron, an innovator with over 30 years’ experience and annual sales of around SEK 200 million, in a move that broadens its Medical Solutions business. Unitron, which operates in...
Nolato boosts electronics capacity with acquisition of Ireland’s M&M Qualtech
Aug 10, 2026
Nolato AB has agreed to acquire Irish electronics specialist MM Qualtech, a Galway-based company with around 200 employees and estimated annual sales of approximately SEK 385 million in 2026, financed through Nolato’s own cash and existing c...
Nolato balances growth and margin pressure amid strategic shift and CEO transition
Jul 17, 2026
Nolato reported modest organic growth in both Medical Solutions and Engineered Solutions in the second quarter of 2026, with currency-adjusted sales up 4% but profitability pressured by higher raw material and oil prices. Group sales rose to SEK 2...
Nolato schedules Q2 2026 report release and investor webcast
Jul 10, 2026
Nolato AB will release its interim report for the second quarter of 2026 on July 17 at 7:45 a.m. CEST, underscoring the company’s continued reporting cadence to investors and analysts. The same day, management will host an English-language w...
Nolato to Sell Romanian Unit as It Refocuses on Core Operations
Jun 29, 2026
Nolato AB, a Swedish polymer solutions manufacturer serving sectors from medical technology to consumer electronics and automotive, operates globally across Europe, Asia, and North America and is listed on Nasdaq Stockholm’s Large Cap Indust...
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.