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AAK AB
(AAK)
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Rating:66Neutral
Price Target:
kr229.00
â–¼(-12.19% Downside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by solid underlying profitability and a conservative balance sheet, partially offset by the sharp TTM revenue decline and uneven cash-flow history. Technicals also weigh on the rating as the stock trades below major moving averages despite mixed momentum signals. Reasonable valuation and a moderate dividend provide additional support.
Positive Factors
Profitability
Sustained operating and net margins near current levels indicate durable pricing power and operational efficiency in specialty fats. Stable margin structure supports cash generation, funds reinvestment in applications R&D, and underpins returns even if top-line growth is uneven.
Negative Factors
Sharp revenue decline
A ~22% TTM revenue contraction materially reduces operating leverage and questions demand sustainability. Persistent top-line shrinkage can force margin trade-offs, reduce scale benefits in procurement and manufacturing, and constrain investments in innovation.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
Sustained operating and net margins near current levels indicate durable pricing power and operational efficiency in specialty fats. Stable margin structure supports cash generation, funds reinvestment in applications R&D, and underpins returns even if top-line growth is uneven.
Read all positive factors
AAK AB (AAK) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr55.08B
Dividend Yield2.59%
Average Volume (3M)462.66K
Price to Earnings (P/E)15.5
Beta (1Y)0.39
Revenue Growth-0.83%
EPS Growth7.01%
CountrySE
Employees4,000
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)13.89
Shares Outstanding259,559,200
10 Day Avg. Volume462,417
30 Day Avg. Volume462,663
Financial Highlights & Ratios
PEG Ratio-5.94
Price to Book (P/B)3.45
Price to Sales (P/S)1.49
P/FCF Ratio-155.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr293.25Price Target Upside12.44% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)14.13
Revenue Forecast (FY)kr47.37B
AAK AB Business Overview & Revenue Model
Company Description
AAK AB (publ.) is a global company that specializes in the development and distribution of a wide array of plant-derived oils and fats. Its extensive product portfolio serves numerous industries, offering crucial ingredients for the bakery, dairy,...
How the Company Makes Money
AAK makes money primarily by selling specialty vegetable oil- and fat-based ingredient solutions to industrial customers, earning revenue through a mix of product volume and value-added formulation. Its core revenue stream is the manufacture and s...
AAK AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.56B | 46.02B | 45.05B | 46.03B | 50.42B | 35.45B |
| Gross Profit | 9.94B | 11.90B | 13.00B | 11.73B | 9.76B | 7.75B |
| EBITDA | 5.67B | 5.34B | 5.76B | 4.99B | 3.36B | 3.05B |
| Net Income | 3.62B | 3.43B | 3.54B | 2.95B | 1.77B | 1.44B |
Balance Sheet | ||||||
| Total Assets | 34.75B | 32.62B | 34.39B | 30.55B | 33.99B | 27.17B |
| Cash, Cash Equivalents and Short-Term Investments | 1.84B | 1.57B | 1.91B | 1.50B | 1.51B | 1.00B |
| Total Debt | 5.79B | 4.94B | 3.57B | 4.49B | 7.25B | 4.57B |
| Total Liabilities | 14.38B | 12.65B | 14.24B | 13.38B | 18.91B | 15.34B |
| Stockholders Equity | 20.29B | 19.90B | 20.09B | 17.12B | 15.04B | 11.78B |
Cash Flow | ||||||
| Free Cash Flow | 1.95B | -441.00M | 1.11B | 4.07B | -1.30B | -111.00M |
| Operating Cash Flow | 3.31B | 862.00M | 2.35B | 5.31B | -73.00M | 508.00M |
| Investing Cash Flow | -1.34B | -1.29B | -598.00M | -1.20B | -1.23B | -650.00M |
| Financing Cash Flow | -1.44B | 244.00M | -1.33B | -4.06B | 1.79B | -65.00M |
AAK AB Technical Analysis
Negative
260.80
Price Trends
241.38
Negative
237.89
Negative
243.24
Negative
Market Momentum
-3.33
Positive
25.21
Positive
32.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AAK, the sentiment is Negative. The current price of 260.8 is above the 20-day moving average (MA) of 233.42, above the 50-day MA of 241.38, and above the 200-day MA of 243.24, indicating a bearish trend. The MACD of -3.33 indicates Positive momentum. The RSI at 25.21 is Positive, neither overbought nor oversold. The STOCH value of 32.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:AAK.
AAK AB Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | kr4.96B | 12.02 | 58.76% | 2.54% | 42.70% | 86.19% | |
76 Outperform | kr16.38B | 21.16 | 14.28% | 2.74% | 0.10% | 29.53% | |
68 Neutral | kr10.95B | 16.81 | 12.96% | 1.56% | 15.74% | 15.67% | |
66 Neutral | kr55.08B | 15.47 | 18.20% | 1.92% | -0.83% | 7.01% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
56 Neutral | kr9.15B | 22.21 | ― | 2.56% | 8.24% | 53.10% | |
54 Neutral | kr49.74B | 21.05 | 31.10% | 3.05% | 3.59% | 14.70% |
* Consumer Defensive Sector Average
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AAK AB Corporate Events
AAK Delivers Higher Profits and Cash Flow Despite Currency Headwinds in Q2 2026
Jul 17, 2026
AAK AB reported second-quarter 2026 volumes of 486,000 metric tons, down 1 percent year-on-year, with net sales slipping 1 percent to SEK 11.2 billion on negative currency effects, though sales rose at constant exchange rates. Operating profit exc...
AAK Increases Treasury Stock Through Continued Share Buybacks
Jul 13, 2026
AAK AB has continued its share buyback program on Nasdaq Stockholm, repurchasing its own shares between July 6 and July 10, 2026 through Skandinaviska Enskilda Banken acting on its behalf. The transactions, executed under the EU Market Abuse and S...
AAK advances share buy-back to optimize capital structure
Jul 6, 2026
AAK AB has continued its ongoing share buy-back programme, repurchasing 103,406 of its own shares on Nasdaq Stockholm between June 29 and July 3, 2026. The transactions, executed by Skandinaviska Enskilda Banken on behalf of AAK, bring the company...
AAK Expands Share Capital After Employee Warrant Conversions
Jun 30, 2026
AAK AB has increased its total number of shares and votes by 100,000 following the exercise of employee subscription warrants under its 2022/2027 incentive program. As a result, the company now has 261,989,002 shares and votes outstanding, reflect...
AAK steps up share buybacks to fine-tune capital structure
Jun 29, 2026
AAK AB, the Malmö-headquartered producer of plant-based oils, emphasizes customer co-development to create better-tasting, healthier and more sustainable products for global food and consumer goods companies. The company operates with about 4...
AAK Steps Up Share Buybacks to Optimize Capital Structure
Jun 22, 2026
AAK AB has repurchased 90,115 of its own shares on Nasdaq Stockholm between June 15 and 18, 2026, as part of an ongoing share buyback program. The purchases, executed by Skandinaviska Enskilda Banken on AAK’s behalf, bring the company’...
AAK Expands Treasury Share Holdings Through Regulated Buybacks on Nasdaq Stockholm
Jun 15, 2026
AAK AB has continued to execute on its share buyback program, repurchasing its own shares on Nasdaq Stockholm during the period June 8–12, 2026 through Skandinaviska Enskilda Banken acting on its behalf. Following these transactions, the com...
AAK Sets July 17 Date for Q2 2026 Report and Investor Call
Jun 10, 2026
AAK AB will release its interim report for the second quarter of 2026 on July 17 at 8:30 a.m. CET and will host a press and analyst conference call at 10:00 a.m. CET the same day, led by President and CEO Johan Westman and CFO Tomas Bergendahl. In...
AAK Steps Up Share Buy‑Backs to Refine Capital Structure
Jun 8, 2026
AAK AB has repurchased 115,352 of its own shares on Nasdaq Stockholm between June 1 and June 5, 2026, as part of a previously announced buy‑back program of up to 5 million shares or SEK 1,000 million. The transactions, executed by SEB on AAK...
AAK Expands Treasury Shareholding Through Regulated Buybacks on Nasdaq Stockholm
Jun 1, 2026
AAK AB has continued its share buyback program, repurchasing additional own shares on Nasdaq Stockholm between May 25 and May 29, 2026 through Skandinaviska Enskilda Banken. Following these transactions, the company now holds 291,775 treasury shar...
AAK Expands Share Capital as Employees Exercise Warrants
May 29, 2026
AAK AB has increased its total number of shares and votes after employees exercised subscription warrants under the company’s 2022/2027 incentive program. The conversion of 1,230,000 warrants into new shares brings the total share count to 2...
AAK Continues Share Buybacks Under EU Safe Harbour Rules
May 25, 2026
AAK AB has continued its share buyback program, repurchasing its own shares on Nasdaq Stockholm between May 18 and May 22, 2026 through Skandinaviska Enskilda Banken. Following these transactions, the company holds 179,710 treasury shares out of a...
AAK Launches Share Buy-Back to Optimize Capital Structure
May 18, 2026
AAK AB has initiated a share buy-back programme on Nasdaq Stockholm, repurchasing 70,296 of its own shares between May 11 and May 15, 2026, as the first tranche under a mandate to buy back up to 5,000,000 shares for up to SEK 1 billion. Executed v...
AAK CEO Increases Shareholding Through Warrant Exercise
May 8, 2026
AAK AB’s President and CEO, Johan Westman, has exercised warrants under the company’s 2022/2027 incentive program, acquiring 2,393 additional shares and bringing his total holding to 85,000 shares. The transaction, reported to the Swed...
AAK launches SEK 1 billion share buyback to refine capital structure
May 8, 2026
AAK AB’s board has decided to use its shareholder-approved mandate to repurchase up to 5,000,000 of the company’s shares on Nasdaq Stockholm, for a total amount not exceeding SEK 1 billion, between May 11, 2026 and March 15, 2027. The ...
AAK AGM Confirms Board, Dividends and New Incentive Schemes
May 8, 2026
AAK AB’s Annual General Meeting re-elected its five-member board, with Patrik Andersson confirmed as chairman, and renewed Ernst Young AB as auditor, while maintaining established committee and board fee structures. The meeting also approve...
AAK Delivers Solid Q1 2026 Profit Growth Despite Currency Headwinds
Apr 28, 2026
AAK AB reported first-quarter 2026 volumes up 3 percent to 515,000 metric tons, reflecting continued demand growth for its specialty oils and fats portfolio. Despite a 3 percent decline in reported net sales to SEK 11.39 billion due to adverse cur...
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.