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Ratos AB
(RATO.B)
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Rating:61Neutral
Price Target:
kr39.00
▲(8.03% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by strong cash generation and a reasonably positioned balance sheet, offset by volatile profitability and still-negative operating results. Technically, momentum is positive with the price above major moving averages, but an elevated RSI suggests increasing overbought risk. Valuation is mixed: a solid dividend yield helps, while a negative P/E highlights earnings weakness.
Positive Factors
Strong Cash Generation
Substantial operating and free cash flow provides flexibility to fund portfolio needs, service obligations and pursue investments. Cash generation despite a small reported loss suggests the group retains meaningful underlying financial capacity.
Negative Factors
Negative Operating Profit
Persistently negative EBIT and a net loss weaken earnings quality and reduce internally generated profitability. If operating improvements do not materialize across subsidiaries, cash flow may become less sufficient to support investment and distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Substantial operating and free cash flow provides flexibility to fund portfolio needs, service obligations and pursue investments. Cash generation despite a small reported loss suggests the group retains meaningful underlying financial capacity.
Read all positive factors
Ratos AB (RATO.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr12.35B
Dividend Yield3.71%
Average Volume (3M)271.58K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue Growth-33.02%
EPS Growth-140.00%
CountrySE
Employees9,100
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-0.34
Shares Outstanding242,748,630
10 Day Avg. Volume323,587
30 Day Avg. Volume271,584
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.94
Price to Sales (P/S)0.42
P/FCF Ratio6.55
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)4.17
Revenue Forecast (FY)kr19.19B
Ratos AB Business Overview & Revenue Model
Company Description
Ratos AB (publ) functions as a private equity firm, concentrating its efforts on corporate buyouts, business restructuring, supplementary acquisitions, and mid-market deals. The firm steers clear of early-stage investments and deliberately avoids ...
How the Company Makes Money
Ratos makes money primarily through (1) operating earnings from its consolidated portfolio companies and (2) value creation and realization from its investments. In practice, most revenue is generated inside the group by the subsidiaries that Rato...
Ratos AB Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.22B | 29.48B | 32.12B | 33.75B | 29.88B | 22.55B |
| Gross Profit | 7.84B | 11.53B | 13.96B | 14.64B | 11.69B | 9.11B |
| EBITDA | 3.42B | 2.77B | 3.23B | 5.19B | 2.91B | 2.65B |
| Net Income | -114.00M | 2.13B | 249.00M | 1.22B | 548.00M | 2.64B |
Balance Sheet | ||||||
| Total Assets | 28.89B | 27.89B | 34.54B | 36.13B | 37.17B | 28.39B |
| Cash, Cash Equivalents and Short-Term Investments | 1.75B | 1.14B | 2.19B | 2.36B | 2.53B | 2.23B |
| Total Debt | 7.82B | 7.92B | 9.00B | 10.43B | 13.04B | 8.03B |
| Total Liabilities | 12.26B | 12.45B | 19.79B | 21.68B | 23.39B | 15.06B |
| Stockholders Equity | 14.45B | 13.31B | 12.20B | 12.31B | 12.29B | 11.94B |
Cash Flow | ||||||
| Free Cash Flow | 2.63B | 1.90B | 3.16B | 4.04B | 1.03B | 1.03B |
| Operating Cash Flow | 3.05B | 2.29B | 3.44B | 4.28B | 1.43B | 1.45B |
| Investing Cash Flow | 227.00M | -479.00M | -972.00M | -566.00M | -4.26B | -258.00M |
| Financing Cash Flow | -3.05B | -2.76B | -2.62B | -3.77B | 2.99B | -2.23B |
Ratos AB Technical Analysis
Positive
36.10
Price Trends
36.52
Positive
35.13
Positive
35.13
Positive
Market Momentum
0.57
Positive
54.89
Neutral
46.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:RATO.B, the sentiment is Positive. The current price of 36.1 is below the 20-day moving average (MA) of 37.85, below the 50-day MA of 36.52, and above the 200-day MA of 35.13, indicating a bullish trend. The MACD of 0.57 indicates Positive momentum. The RSI at 54.89 is Neutral, neither overbought nor oversold. The STOCH value of 46.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:RATO.B.
Ratos AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | kr12.49B | 5.34 | 20.54% | 1.74% | 31.65% | 87.59% | |
80 Outperform | kr229.83B | 3.64 | 31.77% | 1.65% | -0.22% | 379.35% | |
65 Neutral | kr18.39B | 16.03 | 5.47% | 1.01% | 1.34% | 17.47% | |
65 Neutral | kr6.15B | -79.11 | -1.33% | 2.34% | 78.30% | 62.60% | |
61 Neutral | kr12.35B | -111.12 | -0.81% | 3.71% | -33.02% | -140.00% | |
61 Neutral | kr23.09B | 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:RATO.B
Ratos AB
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3.69
10.84%
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Ratos AB Corporate Events
Ratos AB Raises Share Capital After Management Warrant Exercise
Jul 31, 2026
Ratos AB has increased its number of Class B shares following the exercise of 125,000 warrants under an incentive program for the CEO and key personnel approved at the 2023 Annual General Meeting. The exercise raised the number of Class B shares t...
Ratos posts strong Q2 2026 results and advances 2030 strategy
Jul 17, 2026
Ratos reported a strong second quarter for 2026 from continuing operations, with net sales rising to SEK 5,703m and organic growth accelerating to 3.4 percent. Adjusted EBITA increased 14 percent to SEK 988m, lifting the adjusted margin to 17.3 pe...
Ratos CFO Anna Vilogorac to Depart for New Listed-Company Role
Jul 13, 2026
Ratos has announced that its Chief Financial Officer, Anna Vilogorac, will leave the company to take up a CFO role at another listed business, although she will remain in post during her notice period to secure an orderly handover. CEO Gustaf Salf...
Ratos to Present January–June 2026 Interim Results to Investors
Jul 7, 2026
Ratos AB has announced that it will publish its interim report for the period January to June 2026 on 17 July, with the release scheduled for early morning Central European Summer Time. The Swedish investment company, which actively manages majori...
Ratos taps industry veteran Magnus Håkansson to chair Kvd Group
Jul 1, 2026
Ratos has appointed Magnus Håkansson as Chairman of its portfolio company Kvd Group, replacing outgoing chair Jacob Landén, as the investment company seeks to accelerate growth at the Swedish vehicle trading platform. Håkansson brin...
Ratos names Lisa Åberg chairman of AI-focused information solutions firm Aleido
Jun 25, 2026
Ratos has appointed seasoned board professional and former McKinsey senior advisor Lisa Åberg as Chairman of its portfolio company Aleido, effective 1 July 2026, replacing outgoing Chairman Oscar Tydén. Åberg brings more than 25 yea...
Ratos’s HL Display expands Australian footprint with UFO Display Solutions acquisition
Jun 22, 2026
Ratos-owned HL Display, a specialist in in-store merchandising and communication systems, has agreed to acquire UFO Plastics and Displays, an Australian provider of multi-material point-of-sale display solutions for brand suppliers and retailers. ...
Ratos trims Sentia stake in NOK 651m share sale while retaining key minority holding
Jun 3, 2026
Ratos has sold 9 million existing shares in Nordic construction group Sentia ASA to institutional investors, representing about 8.96% of Sentia’s share capital and votes, at NOK 72.40 per share for gross proceeds of roughly NOK 651.6m. The t...
Ratos’s TFS HealthScience to Run Pivotal Trial for VERIGRAFT’s Personalized Vascular Therapy
May 29, 2026
Ratos-owned TFS HealthScience, a global contract research organization, has partnered with Swedish biotech firm VERIGRAFT to support a pivotal Phase II/III clinical trial of the personalized vascular therapy P‑TEV. The therapy targets advanc...
Ratos Names Dr. Holger Rubel Chairman of LEDiL to Drive Next Growth Phase
May 26, 2026
Ratos has appointed Dr. Holger Rubel as Chairman of its portfolio company LEDiL, effective May 2026, replacing outgoing Chairman Oscar Tydén. Rubel, a longtime Boston Consulting Group executive, brings deep international experience in the lig...
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.