AAK Stock Analysis: AAK | ST
Packaged Foods | ST, Sweden | Market Cap: 51.664m SEK | 12M Return: -22.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 133M
EPS Trend: 82.3%
Qual. Beats: -1
Rev. Trend: -13.6%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
AAK AB (publ.) is a Swedish manufacturer of plant-based specialty oils and fats, founded in 1871 and headquartered in Malmö. The company operates through three reporting segments: Food Ingredients, Chocolate & Confectionery Fats, and Technical Products & Feed. Its product range covers chocolate and confectionery, dairy and ice cream, bakery, lecithin, special nutrition, foodservice and retail, personal care, candles, technical products, and animal nutrition, alongside natural emulsifiers, fatty acids, plant-based candle waxes, and feed proteins and fats.
The company operates as a business-to-business ingredient supplier to industrial food and consumer goods manufacturers rather than selling finished consumer products directly. Specialty fats and emulsifiers are a key input category in the global chocolate, confectionery, and bakery value chain, where plant-based oils frequently substitute for or complement cocoa butter, dairy fat, and other animal-derived ingredients.
- Palm oil price swings squeeze Food Ingredients margins
- Chocolate and Confectionery Fats segment drives volume growth
- EU deforestation rules raise palm supply chain compliance costs
| Net Income: 3.62b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 7.62 > 1.0 |
| NWC/Revenue: 25.79% < 20% (prev 20.58%; Δ 5.21% < -1%) |
| CFO/TA 0.10 > 3% & CFO 3.31b > Net Income 3.62b |
| Net Debt (4.39b) to EBITDA (5.67b): 0.77 < 3 |
| Current Ratio: 2.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (262.4m) vs 12m ago 0.71% < -2% |
| Gross Margin: 21.80% > 18% (prev 27.89%; Δ -6.08% > 0.5%) |
| Asset Turnover: 135.7% > 50% (prev 141.9%; Δ -6.13% > 0%) |
| Interest Coverage Ratio: 18.98 > 6 (EBIT TTM 4.78b / Interest Expense TTM 252.0m) |
| A: 0.34 (Total Current Assets 22.8b - Total Current Liabilities 11.0b) / Total Assets 34.8b |
| B: 0.60 (Retained Earnings 21.0b / Total Assets 34.8b) |
| C: 0.14 (EBIT TTM 4.78b / Avg Total Assets 33.6b) |
| D: 1.41 (Book Value of Equity 20.3b / Total Liabilities 14.4b) |
| Altman-Z'' = 6.63 = AAA |
| DSRI: 1.01 (Receivables 9.37b/9.38b, Revenue 45.6b/45.9b) |
| GMI: 1.28 (GM 27.89% / 21.80%) |
| AQI: 0.93 (AQ_t 0.09 / AQ_t-1 0.09) |
| SGI: 0.99 (Revenue 45.6b / 45.9b) |
| TATA: 0.01 (NI 3.62b - CFO 3.31b) / TA 34.8b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at SEK 197.90 with a total of 948,779 shares traded. Over the past week, the price has changed by -3.75%, over one month by -13.35%, over three months by -18.32% and over the past year by -22.46%.
Current recommended Stop Loss: 190.00 (which is 4% or 1.2 ATR below the current price).
AAK has no consensus analysts rating.
P/E Trailing = 14.2651
P/E Forward = 21.4592
P/S = 1.1339
P/B = 2.6178
P/EG = 2.3109
Revenue TTM = 45.6b SEK
EBIT TTM = 4.78b SEK
EBITDA TTM = 5.67b SEK
Long Term Debt = 1.90b SEK (from longTermDebt, last quarter)
Short Term Debt = 3.54b SEK (from shortTermDebt, last quarter)
Debt = 6.23b SEK (from shortLongTermDebtTotal, last quarter) + Leases 442.0m
Net Debt = 4.39b SEK (calculated: Debt 6.23b - CCE 1.84b)
Enterprise Value = 56.0b SEK (51.7b + Debt 6.23b - CCE 1.84b)
Interest Coverage Ratio = 18.98 (Ebit TTM 4.78b / Interest Expense TTM 252.0m)
EV/FCF = 28.70x (Enterprise Value 56.0b / FCF TTM 1.95b)
FCF Yield = 3.48% (FCF TTM 1.95b / Enterprise Value 56.0b)
FCF Margin = 4.29% (FCF TTM 1.95b / Revenue TTM 45.6b)
Net Margin = 7.94% (Net Income TTM 3.62b / Revenue TTM 45.6b)
Gross Margin = 21.80% ((Revenue TTM 45.6b - Cost of Revenue TTM 35.6b) / Revenue TTM)
Gross Margin QoQ = 26.24% (prev 26.56%)
Tobins Q-Ratio = 1.61 (Enterprise Value 56.0b / Total Assets 34.8b)
Interest Expense / Debt = 4.05% (Interest Expense 252.0m / Debt 6.23b)
Taxrate = 23.31% (1.10b / 4.73b)
NOPAT = 3.67b (EBIT 4.78b * (1 - 23.31%))
Current Ratio = 2.07 (Total Current Assets 22.8b / Total Current Liabilities 11.0b)
Debt / Equity = 0.31 (Debt 6.23b / totalStockholderEquity, last quarter 20.3b)
Debt / EBITDA = 0.77 (Net Debt 4.39b / EBITDA 5.67b)
Debt / FCF = 2.25 (Net Debt 4.39b / FCF TTM 1.95b)
Total Stockholder Equity = 20.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.78% (Net Income 3.62b / Total Assets 34.8b)
RoE = 17.93% (Net Income TTM 3.62b / Total Stockholder Equity 20.2b)
RoCE = 21.65% (EBIT 4.78b / Capital Employed (Equity 20.2b + L.T.Debt 1.90b))
RoIC = 14.42% (NOPAT 3.67b / Invested Capital 25.4b)
WACC = 6.76% (E(51.7b)/V(57.9b) * Re(7.20%) + D(6.23b)/V(57.9b) * Rd(4.05%) * (1-Tc(0.23)))
Discount Rate = 7.20% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 57.48 | Cagr: 0.43%
[DCF] Terminal Value 75.44% ; FCFF base≈1.95b ; Y1≈1.96b ; Y5≈2.08b
[DCF] Fair Price = 107.0 (EV 32.3b - Net Debt 4.39b = Equity 27.9b / Shares 260.9m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 82.26 | EPS CAGR: 9.96% | SUE: -1.73 | # QB: -1
Revenue Correlation: -13.58 | Revenue CAGR: -0.36% | SUE: -0.89 | # QB: -1
EPS current Quarter (2026-09-30): EPS=3.54 | Chg30d=-9.40% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=14.03 | Chg30d=-6.12% | Revisions=-67% | GrowthEPS=+0.1% | GrowthRev=+0.6%
EPS next Year (2027-12-31): EPS=15.66 | Chg30d=-4.93% | Revisions=-67% | GrowthEPS=+11.7% | GrowthRev=+5.7%
[Analyst] Revisions Ratio: -71% (up=1, down=13)