SkiStar AB Class B (SKIS.B) AI Stock Analysis

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SkiStar AB Class B

(Nasdaq OMX AB:SKIS.B)

Select Model

Rating:64Neutral

Price Target:SEK 199.00▲(7.05% Upside)

Action:reiterated

Date:10/02/26

The score is primarily driven by solid operating profitability and an improving balance sheet, offset by uneven cash-flow conversion and recent weakness in free cash flow trends. Technicals are only moderately supportive with a negative MACD despite the price being above major moving averages, and valuation is fair-to-slightly rich given a ~22x P/E with a modest ~1.8% dividend yield.

Positive Factors

Integrated destination modelSkiStar’s integrated resort model captures spending across lift access, lessons, rentals and destination services. This broadens revenue per visitor, supports cross-selling, and creates a more durable competitive position than relying on lift tickets alone.

Negative Factors

Uneven free cash flow conversionCash generation is less robust than reported earnings because only about half of net income converted to free cash flow in 2024–2026. Volatility and reinvestment needs can constrain debt reduction, distributions, and funding available for future resort development.

SkiStar AB Class B (SKIS.B) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 14.57B
Dividend Yield: 1.61%
Average Volume (3M): 39.28K
Price to Earnings (P/E): 23.2
Beta (1Y): 0.49
Revenue Growth: 6.99%
EPS Growth: 13.65%
Country: Sweden
Employees: 1,646
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Travel Services

SkiStar AB Class B Business Overview & Revenue Model

Company Description

SkiStar AB (publ) owns and operates Alpine ski resorts in Sweden and Norway. The company operates through three segments: Operation of Mountain Resorts; Property Development and Exploitation; and Operation of Hotels. It is involved in ski and bike re...

How the Company Makes Money

SkiStar primarily earns revenue by operating integrated mountain destinations and charging for access to and use of resort infrastructure and services. Key revenue streams include: (1) Lift and ski access: sale of lift passes and related ski products...

SkiStar AB Class B Financial Statement Overview

Summary

Solid profitability and improving leverage support the score (EBITDA margin ~25%–30%, net margin rebounding to ~12.7% in 2026; debt-to-equity improving to ~0.78x by 2026). The main drag is cash-flow quality and consistency: free cash flow has been volatile (including negative in 2023), FCF-to-net-income is ~0.51–0.52 in 2024–2026, and FCF growth turned sharply negative in 2026.

Income Statement

74Positive

Balance Sheet

67Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Aug 2026	Aug 2025	Aug 2024	Aug 2023	Aug 2022
Income Statement
Total Revenue	4.96B	4.95B	4.63B	4.69B	4.28B	4.09B
Gross Profit	1.76B	819.00M	2.45B	3.62B	3.11B	3.09B
EBITDA	1.43B	1.40B	1.34B	1.25B	1.08B	1.22B
Net Income	628.00M	627.00M	552.61M	473.25M	402.37M	666.52M
Balance Sheet
Total Assets	9.13B	9.13B	8.76B	8.68B	8.76B	7.97B
Cash, Cash Equivalents and Short-Term Investments	58.00M	58.00M	20.08M	24.63M	31.07M	24.61M
Total Debt	3.53B	3.53B	3.73B	4.02B	4.30B	3.61B
Total Liabilities	4.62B	4.62B	4.80B	5.03B	5.28B	4.61B
Stockholders Equity	4.51B	4.51B	3.96B	3.66B	3.48B	3.36B
Cash Flow
Free Cash Flow	618.00M	628.00M	579.82M	564.48M	-97.96M	445.09M
Operating Cash Flow	1.22B	1.22B	1.11B	1.08B	669.36M	1.24B
Investing Cash Flow	-615.00M	-616.00M	-473.76M	-375.00M	-852.72M	-799.76M
Financing Cash Flow	-570.00M	-570.00M	-638.40M	-714.36M	190.87M	-441.53M

SkiStar AB Class B Technical Analysis

Technical Analysis SentimentPositive

Last Price185.90

Price Trends

50DMA167.30Positive

100DMA164.54Positive

200DMA163.64Positive

Market Momentum

MACD5.08Negative

RSI82.64Negative

STOCH94.93Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SKIS.B, the sentiment is Positive. The current price of 185.90 is above the 20-day moving average (MA) of 173.25, above the 50-day MA of 167.30, and above the 200-day MA of 163.64, indicating a bullish trend. The MACD of 5.08 indicates Negative momentum. The RSI at 82.64 is Negative, neither overbought nor oversold. The STOCH value of 94.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SKIS.B.

SkiStar AB Class B Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:SKIS.B against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SHOT	74Outperform	SEK 22.22B	30.56	25.12%	2.52%	2.84%	-0.50%
SE:SODER	72Outperform	SEK 170.86M	15.66	12.07%	3.96%	7.93%	94.40%
SE:SKIS.B	64Neutral	SEK 14.57B	23.21	14.70%	1.61%	6.99%	13.65%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SE:USWE	55Neutral	SEK 44.60M	-13.62	-4.87%	―	-9.26%	72.39%
SE:FOI.B	53Neutral	SEK 4.35B	44.41	2.35%	6.96%	1.03%	15.81%
SE:BOAT	52Neutral	SEK 503.05M	-6.18	-8.25%	―	-12.35%	29.91%

* Consumer Cyclical Sector Average

Performance Comparison

SE:SKIS.B and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SKIS.B	SkiStar AB Class B	185.90	30.73	19.80%
SE:FOI.B	Fenix Outdoor International AG Series B	323.50	-152.01	-31.97%
SE:USWE	USWE Sports AB	6.25	-9.55	-60.44%
SE:BOAT	Nimbus Group AB	11.80	0.85	7.76%
SE:SODER	Soder Sportfiske AB	20.20	-0.80	-3.83%
SE:SHOT	Scandic Hotels Group AB	103.30	14.19	15.93%

SkiStar AB Class B Corporate Events

SkiStar boosts earnings and dividend as Nordic mountain bookings climb

Sep 30, 2026

SkiStar reported improved full-year results for the period September 2025–August 2026, with net sales rising 8 percent to SEK 4,954 million and operating profit up 11 percent to SEK 872 million. Earnings per share increased 14 percent to SEK 8....

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.

Date of analysis: Oct 02, 2026

SkiStar AB Class B AI Stock Analysis

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