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Rusta AB
(RUSTA)
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Rating:61Neutral
Price Target:
kr83.00
▲(1.72% Upside)
Action:Reiterated
Date:09/12/26
The score is supported primarily by solid financial performance—especially strong free cash flow and improving margins—plus a constructive earnings update with maintained growth and expansion targets. Offsetting this, technicals are notably weak (below major moving averages with negative MACD), and valuation is only moderate given leverage and margin sensitivity.
Positive Factors
Strong cash generation
Robust operating and free cash flow gives Rusta internal funding for store expansion, systems investment, and debt service. This cash-generative model improves resilience and provides flexibility to reinvest without relying entirely on external financing as the business grows.
Negative Factors
Debt-heavy capital structure
Elevated leverage leaves Rusta more exposed if margins or demand weaken, because interest, refinancing, and other fixed financial obligations can absorb cash that might otherwise fund growth. Although leverage has improved, the balance sheet remains structurally debt-heavy.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating and free cash flow gives Rusta internal funding for store expansion, systems investment, and debt service. This cash-generative model improves resilience and provides flexibility to reinvest without relying entirely on external financing as the business grows.
Read all positive factors
Rusta AB (RUSTA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr11.88B
Dividend Yield2.33%
Average Volume (3M)297.39K
Price to Earnings (P/E)20.0
Beta (1Y)0.59
Revenue Growth8.20%
EPS Growth40.01%
CountrySE
Employees5,337
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)3.86
Shares Outstanding153,528,980
10 Day Avg. Volume532,501
30 Day Avg. Volume297,388
Financial Highlights & Ratios
PEG Ratio1.86
Price to Book (P/B)7.11
Price to Sales (P/S)1.22
P/FCF Ratio13.03
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)4.39
Revenue Forecast (FY)kr13.98B
Rusta AB Business Overview & Revenue Model
Company Description
Rusta AB (publ) operates as a retail enterprise, offering a diverse selection of household and leisure products throughout Sweden, Norway, Finland, and Germany. Their extensive inventory includes smaller furnishings, lighting solutions, rugs, text...
How the Company Makes Money
Rusta primarily makes money by buying consumer goods at scale and selling them at a markup through its discount retail stores, generating revenue from direct retail sales to consumers. The core revenue stream is merchandise sales across its main p...
Rusta AB Earnings Call Summary
Earnings Call Date:Sep 09, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Dec 08, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive first-quarter performance, with 9.9% net sales growth, improved like-for-like sales, a 1.7 percentage-point gross-margin expansion, 17.6% EBITA growth, stronger cash generation, and profitable growth across all segments. The company also continues to expand its store network, renew its store concept, develop online sales, and invest in warehouse automation and a new ERP system. Key challenges include difficult consumer and market conditions in Finland and Germany, expected freight and cost-of-goods increases, currency-related central costs, warehouse automation ramp-up costs, and some uncertainty around the timing of Q2 sales. Highlights significantly outweigh the lowlights.Positive Updates
Solid First-Quarter Profitable Growth
Rusta described the first quarter as a solid start, with sales growth and improved profitability across all segments. Net sales increased by 9.9%, or 8.7% excluding currency effects, while like-for-like sales excluding currency effects increased by 2.2%. Growth was supported by more customers, higher conversion, and more items sold per customer.
Negative Updates
Challenging Market Conditions in Finland and Germany
Management said Finland and Germany continue to be tough markets with more negative customer sentiment. The quarter's profitability progress in Other Markets occurred despite continued challenging market conditions in both countries.
Read all updates
Q1-2026 Updates
Positive
Negative
Solid First-Quarter Profitable Growth
Rusta described the first quarter as a solid start, with sales growth and improved profitability across all segments. Net sales increased by 9.9%, or 8.7% excluding currency effects, while like-for-like sales excluding currency effects increased by 2.2%. Growth was supported by more customers, higher conversion, and more items sold per customer.
Read all positive updates
Company Guidance
Rusta maintains guidance of 65 to 80 new stores over the coming three-year period, expects to open 14 new stores this fall, and says that so far this financial year it has opened nine new stores with an additional 11 new stores in the pipeline for the fall; its medium-term targets remain annual average net sales growth of around 8%, like-for-like growth above 3%, and an EBITA margin of around 8%, while its dividend policy is to distribute 30%-50% of net profit each year, taking its financial position into account. The total investment in the new ERP provider is estimated around SEK 80 million, split between CapEx and OpEx, with no specific guidance on how much will land in OpEx. Rusta expects continued geopolitical uncertainty to lead to higher freight costs and cost of goods by the end of Q2, mitigated by currency tailwind, sees stable sales development in August, and expects one, maybe two openings in Germany during this financial year, but most probably one opening.Rusta AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
49
Neutral
Cash Flow
78
Positive
| Breakdown | TTM | Apr 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.91B | 12.60B | 11.83B | 11.12B | 10.20B | 9.49B |
| Gross Profit | 5.41B | 5.48B | 5.09B | 4.83B | 4.19B | 4.01B |
| EBITDA | 2.03B | 1.97B | 1.82B | 1.71B | 1.35B | 1.55B |
| Net Income | 591.00M | 549.00M | 476.00M | 408.00M | 261.00M | 615.30M |
Balance Sheet | ||||||
| Total Assets | 10.02B | 9.61B | 9.35B | 9.10B | 8.85B | 8.19B |
| Cash, Cash Equivalents and Short-Term Investments | 587.00M | 160.00M | 99.00M | 171.00M | 182.20M | 169.70M |
| Total Debt | 5.41B | 5.43B | 5.66B | 5.72B | 5.93B | 5.17B |
| Total Liabilities | 7.62B | 7.45B | 7.61B | 7.50B | 7.58B | 6.92B |
| Stockholders Equity | 2.40B | 2.17B | 1.74B | 1.59B | 1.27B | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 1.51B | 1.18B | 727.00M | 1.23B | 834.30M | 367.90M |
| Operating Cash Flow | 1.95B | 1.66B | 1.12B | 1.40B | 1.01B | 624.90M |
| Investing Cash Flow | -500.00M | -480.00M | -405.00M | -165.00M | -172.40M | 607.20M |
| Financing Cash Flow | -1.04B | -1.17B | -791.00M | -1.24B | -825.80M | -1.13B |
Rusta AB Technical Analysis
Negative
81.60
Price Trends
82.42
Negative
85.49
Negative
85.73
Negative
Market Momentum
-1.23
Positive
38.73
Neutral
9.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:RUSTA, the sentiment is Negative. The current price of 81.6 is above the 20-day moving average (MA) of 80.26, below the 50-day MA of 82.42, and below the 200-day MA of 85.73, indicating a bearish trend. The MACD of -1.23 indicates Positive momentum. The RSI at 38.73 is Neutral, neither overbought nor oversold. The STOCH value of 9.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:RUSTA.
Rusta AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr26.39B | 20.90 | 41.64% | 1.66% | 9.82% | 33.55% | |
71 Outperform | kr1.40B | 20.39 | 11.99% | 2.22% | 11.47% | 15.20% | |
62 Neutral | kr488.91M | -10.61 | ― | 5.23% | -1.18% | -654.08% | |
61 Neutral | kr11.88B | 20.04 | ― | 2.33% | 8.20% | 40.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr3.46B | 39.25 | ― | ― | 7.07% | ― | |
53 Neutral | kr102.11M | -21.67 | -4.08% | ― | -13.70% | 92.84% |
* General Sector Average
SE:RUSTA
Rusta AB
77.35
13.35
20.86%
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SE:BHG
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19.33
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-30.62%
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0.10
-0.03
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SE:RUG
RugVista Group AB
67.50
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-6.02%
SE:ELON
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32.90
14.90
82.78%
Rusta AB Corporate Events
Rusta Boosts Quarterly Sales, Margins and Cash Flow as Store Network Expands
Sep 9, 2026
Rusta AB delivered a strong first quarter for the financial year, with net sales rising 9.9% to MSEK 3,489 and like-for-like sales up 2.2% excluding currency effects. Gross profit increased 14.5% and the gross margin improved to 44.3%, while EBITA...
Rusta accelerates Nordic and German expansion with 27 new stores in 2026
Aug 26, 2026
Rusta AB is a major Nordic low-price retailer specializing in home and leisure products, operating more than 240 stores in Sweden, Norway, Finland and Germany alongside its Rusta Online e-commerce platform. Listed on Nasdaq Stockholm, the company ...
Rusta Schedules Q1 2026/2027 Interim Report Presentation
Aug 26, 2026
Rusta AB, a Nordic low-price retailer with more than 240 stores in Sweden, Norway, Finland and Germany, and an online platform Rusta Online, focuses on affordable home and leisure products for value-driven consumers. Headquartered in Upplands V...
Rusta Marks 40 Years of Low Prices With Integrated Annual and Sustainability Report
Aug 21, 2026
Rusta AB has released its 2025/26 Annual and Sustainability Report, marking 40 years in the low-price retail sector and underlining its ambition to continue growing across Sweden, Norway, and other markets. The report outlines the company’s ...
Rusta’s Nomination Committee Proposes New Board Line-Up for 2026 AGM
Aug 14, 2026
Rusta’s nomination committee has presented its proposal for the retailer’s board of directors ahead of the Annual General Meeting on September 18, 2026, recommending that the board remain at eight ordinary members without deputies. The...
Rusta AB Sets September Date for Annual General Meeting
Aug 14, 2026
Rusta AB has called its annual general meeting for 18 September 2026 at Scandic Infra City in Upplands Väsby, Sweden, setting out formal procedures for shareholder participation. Shareholders must be registered with Euroclear by 10 September ...
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.