INDU-A Stock Analysis: Industrivarden ser. | ST
Asset Management | ST, Sweden | Market Cap: 231.066m SEK | 12M Return: 48.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.0M
EPS Trend: 10.7%
Rev. Trend: -13.0%
Warnings
Tailwinds
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.
AB Industrivärden is a Swedish investment management company founded in 1944 and headquartered in Stockholm. The firm invests primarily in publicly listed equities across the Nordic region, applying a fundamental analysis approach that emphasizes long-term return potential, established business models, a balanced risk-return profile, and attractive valuations when constructing its portfolio. As a long-term oriented investor, it typically holds concentrated positions in a limited number of Nordic-listed companies rather than pursuing broad diversification.
Although classified under the GICS Industrials sector and Environmental & Facilities Services sub-industry, the companys actual business is investment management, with the bulk of its value derived from its equity holdings in major Nordic corporations across sectors such as industrials, telecommunications, and consumer goods. Its shares are listed on the Stockholm Stock Exchange under the ticker INDU-A, and it maintains a dual share structure, with series A shares carrying greater voting rights than series C shares.
- Major Nordic holdings Volvo and Sandvik drive NAV performance
- High dividend yield attracts income-focused investors amid rate changes
- Discount to NAV narrows as Nordic equities rally
| Net Income: 62.9b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -1.39 > 1.0 |
| NWC/Revenue: 6.20% < 20% (prev 1.53%; Δ 4.67% < -1%) |
| CFO/TA 0.04 > 3% & CFO 9.22b > Net Income 62.9b |
| Net Debt (2.35b) to EBITDA (63.1b): 0.04 < 3 |
| Current Ratio: 2.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (431.9m) vs 12m ago 0.07% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 17.61% > 50% (prev 7.73%; Δ 9.88% > 0%) |
| Interest Coverage Ratio: 426.6 > 6 (EBIT TTM 63.1b / Interest Expense TTM 148.0m) |
| A: 0.01 (Total Current Assets 3.98b - Total Current Liabilities 1.78b) / Total Assets 231b |
| B: 0.82 (Retained Earnings 189b / Total Assets 231b) |
| C: 0.31 (EBIT TTM 63.1b / Avg Total Assets 202b) |
| D: 31.71 (Book Value of Equity 224b / Total Liabilities 7.07b) |
| Altman-Z'' = 38.12 = AAA |
| DSRI: 0.22 (Receivables 52.0m/87.0m, Revenue 35.5b/13.3b) |
| GMI: 0.99 (GM 98.98% / 99.98%) |
| AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98) |
| SGI: 2.67 (Revenue 35.5b / 13.3b) |
| TATA: 0.23 (NI 62.9b - CFO 9.22b) / TA 231b) |
| Beneish M = -2.45 (Cap -4..+1) = BBB |
As of July 28, 2026, the stock is trading at SEK 542.50 with a total of 132,117 shares traded. Over the past week, the price has changed by +3.73%, over one month by +2.26%, over three months by +12.27% and over the past year by +48.94%.
Current recommended Stop Loss: 526.20 (which is 3% or 1.6 ATR below the current price).
Industrivarden ser. has no consensus analysts rating.
P/E Trailing = 3.6755
P/E Forward = 30.4878
P/S = 3.6506
P/B = 1.0263
P/EG = 4.6248
Revenue TTM = 35.5b SEK
EBIT TTM = 63.1b SEK
EBITDA TTM = 63.1b SEK
Long Term Debt = 5.00b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 1.78b SEK (from shortTermDebt, last quarter)
Debt = 6.28b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.35b SEK (calculated: Debt 6.28b - CCE 3.93b)
Enterprise Value = 233b SEK (231b + Debt 6.28b - CCE 3.93b)
Interest Coverage Ratio = 426.6 (Ebit TTM 63.1b / Interest Expense TTM 148.0m)
EV/FCF = 25.31x (Enterprise Value 233b / FCF TTM 9.22b)
FCF Yield = 3.95% (FCF TTM 9.22b / Enterprise Value 233b)
FCF Margin = 25.97% (FCF TTM 9.22b / Revenue TTM 35.5b)
Net Margin = 177.0% (Net Income TTM 62.9b / Revenue TTM 35.5b)
Gross Margin = unknown ((Revenue TTM 35.5b - Cost of Revenue TTM 6.00m) / Revenue TTM)
Tobins Q-Ratio = 1.01 (Enterprise Value 233b / Total Assets 231b)
Interest Expense / Debt = 2.36% (Interest Expense 148.0m / Debt 6.28b)
Taxrate = 0.28% (176.0m / 63.0b)
NOPAT = 63.0b (EBIT 63.1b * (1 - 0.28%))
Current Ratio = 2.24 (Total Current Assets 3.98b / Total Current Liabilities 1.78b)
Debt / Equity = 0.03 (Debt 6.28b / totalStockholderEquity, last quarter 224b)
Debt / EBITDA = 0.04 (Net Debt 2.35b / EBITDA 63.1b)
Debt / FCF = 0.25 (Net Debt 2.35b / FCF TTM 9.22b)
Total Stockholder Equity = 198b (last 4 quarters mean from totalStockholderEquity)
RoA = 31.17% (Net Income 62.9b / Total Assets 231b)
RoE = 31.77% (Net Income TTM 62.9b / Total Stockholder Equity 198b)
RoCE = 31.12% (EBIT 63.1b / Capital Employed (Equity 198b + L.T.Debt 5.00b))
RoIC = 27.42% (NOPAT 63.0b / Invested Capital 230b)
WACC = 8.17% (E(231b)/V(237b) * Re(8.33%) + D(6.28b)/V(237b) * Rd(2.36%) * (1-Tc(0.00)))
Discount Rate = 8.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 9.26 | Cagr: 0.00%
[DCF] Terminal Value 75.41% ; FCFF base≈9.23b ; Y1≈9.25b ; Y5≈9.76b
[DCF] Fair Price = 709.9 (EV 152b - Net Debt 2.35b = Equity 150b / Shares 210.6m; r=8.35% [WACC [floored]]; 5y FCF grow -0.25% → 2.50% )
EPS Correlation: 10.70 | EPS CAGR: 9.07% | SUE: N/A | # QB: 0
Revenue Correlation: -12.99 | Revenue CAGR: -9.71% | SUE: N/A | # QB: 0