Alligo AB Class B (ALLIGO.B) AI Stock Analysis

• Market Cap: kr6.40B
• Dividend Yield: 1.64%
• Average Volume (3M): 24.06K
• Price to Earnings (P/E): 24.6
• Beta (1Y): 0.85
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 2,543
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Distribution
• EPS (TTM): 3.10
• Shares Outstanding: 50,343,895
• 10 Day Avg. Volume: 7,034
• 30 Day Avg. Volume: 24,062
• PEG Ratio: -5.18
• Price to Book (P/B): 1.71
• Price to Sales (P/S): 0.67
• P/FCF Ratio: 9.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 9.66
• Revenue Forecast (FY): kr10.03B

• Rating: 60 Neutral
• Price Target: kr142.00 ▲(5.19% Upside)
• Action: N/A Date: 02/18/26
• Date: Action: N/A 02/18/26

The score is primarily driven by solid cash generation and steady operating resilience, tempered by thinner net profitability and increased leverage. Technicals are supportive with a strong uptrend versus key moving averages, while valuation is a mild headwind due to a higher P/E and modest dividend yield.

Positive Factors

Strong cash generation

Consistently positive free cash flow and high conversion to net income provide durable internal funding for working capital, reinvestment, and distributions. Over 2–6 months this supports operations, reduces reliance on external financing and underpins the distributor's ability to fund growth or service debt.

Stable EBITDA margins (~12%)

A steady ~12% EBITDA margin signals resilient core operating performance across product categories. This stability cushions profit volatility from input cost swings and supports long-term operating cash generation, enabling predictable coverage of operating costs and capital needs.

Concept-based B2B distribution network

A focused B2B model with recognized concepts (Swedol, TOOLS), physical stores, field sales and digital channels creates deep customer relationships, recurring demand and sourcing scale. Structural position in industrial/construction supplies supports steady demand from professional users.

Negative Factors

Rising leverage (debt-to-equity ~1.21)

Material increase in leverage reduces financial flexibility and raises interest and refinancing risks. Over a medium-term horizon this constrains strategic optionality, magnifies earnings volatility from cost shocks, and elevates the company's exposure to cyclical downturns.

Weakened net profitability

Declining net margins halve bottom-line efficiency versus prior peaks, limiting retained earnings and the ability to absorb higher costs or competitive price pressure. Persistently thin net margins reduce long-term return on invested capital and shareholder upside.

Modest operating cash coverage of debt

Low operating cash-to-debt coverage implies limited capacity to rapidly reduce leverage or withstand shocks without new financing. Over months this elevates refinancing risk and limits ability to fund large capex or acquisitions without increasing indebtedness.

Alligo AB Class B Business Overview & Revenue Model

Company Description

Alligo AB (publ) supplies tools related to workwear, personal protection, and tools in the Nordic region. It provides spare parts; and maintenance and repair services. The company serves to small, medium-sized companies, and large companies; and the public sector in the areas of manufacturing, construction, public sector, transport and warehousing, repair and maintenance, agriculture and forestry, fisheries and aquaculture, and oil and gas. The company was formerly known as Momentum Group AB (publ) and changed its name to Alligo AB (publ) in December 2021. Alligo AB (publ) was founded in 2016 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Alligo AB Class B Financial Statement Overview

Summary

Cash generation is a strength with consistently positive free cash flow and good conversion versus net income, and EBITDA margin has been relatively steady (~12%). Offsetting this, profitability has softened (net margin ~2.7% in 2025 vs ~5.2% in 2022) and leverage has risen meaningfully (debt-to-equity ~1.21 in 2025), reducing financial flexibility.

Income Statement

Revenue has expanded over time (notably strong growth in 2021–2022 and a very large step-up in 2025), but profitability has softened versus prior peaks. Net profit margin sits in the low-single-digits recently (about 2.7% in 2025 vs ~5.2% in 2022), and operating margin has also eased from earlier highs. EBITDA margin has been relatively steady around ~12%, supporting a view of decent operating resilience despite thinner bottom-line profitability.

Balance Sheet

Leverage has increased meaningfully: debt-to-equity rose from ~0.81 (2022) and ~0.96 (2024) to ~1.21 (2025), which reduces financial flexibility. Equity has grown modestly, but debt growth has outpaced it, and returns on equity (where provided) have been moderate (roughly ~6%–14% historically). Overall, the balance sheet looks serviceable but more levered and risk-sensitive than in earlier years.

Cash Flow

Cash generation is a relative strength: free cash flow has been consistently positive, and free cash flow has generally tracked net income well (roughly ~71%–90%+ of net income across years). Recent free cash flow growth is strong (2025), although operating cash flow has covered only a modest portion of total debt (coverage ratios around ~0.24–0.55 historically), which matters given rising leverage.

Breakdown	Dec 2025	Dec 2024	Dec 2022	Dec 2021	Mar 2020
Income Statement
Total Revenue	9.55B	9.33B	9.21B	8.47B	7.57B
Gross Profit	454.00M	3.80B	3.73B	3.49B	2.89B
EBITDA	1.15B	1.12B	1.16B	1.03B	495.00M
Net Income	261.00M	274.00M	481.00M	291.00M	198.00M
Balance Sheet
Total Assets	9.66B	9.67B	8.36B	8.68B	7.81B
Cash, Cash Equivalents and Short-Term Investments	486.00M	670.00M	215.00M	286.00M	375.00M
Total Debt	4.53B	3.57B	2.76B	2.56B	0.00
Total Liabilities	5.86B	5.92B	4.95B	5.23B	4.76B
Stockholders Equity	3.75B	3.72B	3.41B	3.43B	3.11B
Cash Flow
Free Cash Flow	695.00M	859.00M	361.00M	785.00M	1.06B
Operating Cash Flow	798.00M	952.00M	507.00M	943.00M	1.19B
Investing Cash Flow	-399.00M	-541.00M	-296.00M	-345.00M	-1.91B
Financing Cash Flow	-573.00M	-117.00M	-281.00M	-629.00M	1.06B

Alligo AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HANZA	65 Neutral	kr10.46B	23.56	―	0.65%	18.96%	48.93%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
ALLIGO.B	60 Neutral	kr6.40B	24.60	6.80%	1.64%	―	―

Alligo AB Class B Corporate Events

Alligo Names Former Cramo Chief Samuel Alteborg as New CEO

Alligo AB, a Nasdaq Stockholm‑listed supplier of workwear, personal protection, tools and consumables across the Nordics, serves customers through its Swedol and Tools retail concepts as well as specialized technology businesses in fields like welding and batteries. The group combines store networks, direct sales and online channels to reach industrial and construction customers throughout the region.

The board has appointed former Cramo chief executive Samuel Alteborg as Alligo’s new president and CEO, to take up the role no later than mid‑August 2026, with current CEO Clein Ullenvik staying on until the transition. Drawing on his background in equipment rental, industrial and construction sectors, consulting and M&A, Alteborg is expected to drive further development of Alligo’s offering and support continued growth, reinforcing the company’s market position in the Nordic industrial supplies segment.

The most recent analyst rating on ($SE:ALLIGO.B) stock is a Hold with a SEK146.00 price target. To see the full list of analyst forecasts on Alligo AB Class B stock, see the SE:ALLIGO.B Stock Forecast page.

Alligo lifts margins, trims leverage and expands Nordic footprint in 2025

Alligo AB, a Nordic distributor of tools, workwear and industrial supplies, continued to build its market position in 2025 through a mix of organic initiatives and acquisitions. The group is also broadening its offering in product media, including a new foothold in Norway, while maintaining a focus on operational efficiency and financial stability across Sweden, Norway and Finland.

In the fourth quarter of 2025, Alligo increased revenue, expanded gross margin and improved adjusted EBITA, supported by stabilising demand and cost adjustments. For the full year, revenue and margins held up despite negative organic growth, with strong fourth-quarter cash flow reducing leverage, a proposed dividend increase, and new long-term financing bolstering its balance sheet.

Management changes include the planned departure of Group President and CEO Clein Johansson Ullenvik once a successor is appointed, and the promotion of CFO Irene Wisenborn Bellander to Deputy CEO. The acquisition of Respond Profilering & Firmagaver AS established a product media platform in Norway, while an EcoVadis Platinum rating and renewed efforts to turn around the Finnish business underline Alligo’s focus on sustainability, profitability and future organic growth.

Alligo earns EcoVadis Platinum rating, bolstering Nordic market position

Nordic workwear and industrial supplies group Alligo AB, which operates mainly under the Swedol and Tools brands and serves professional customers across Sweden, Norway and Finland, has built a broad multichannel sales network including physical stores, field and telesales and digital channels. The listed company complements its core offering with specialised on-site technology and product media businesses, supported by a workforce of roughly 2,500 employees.

Alligo has been awarded a Platinum rating by sustainability assessor EcoVadis, scoring 87 out of 100 and placing it among the top one percent of some 50,000 companies evaluated globally each year. The company has sharply improved its score from 66 to 87 points since 2024 by tightening climate targets, reinforcing supplier governance and embedding sustainability across operations, a shift management says is boosting competitiveness, supporting profitability and strengthening its position with customers that increasingly use EcoVadis in supplier selection.

Alligo Elevates CFO Irene Wisenborn Bellander to Deputy CEO to Bolster Strategy Execution

Alligo AB has strengthened its top management by appointing current Chief Financial Officer Irene Wisenborn Bellander as Deputy CEO, a role she assumes immediately while retaining her CFO responsibilities. Having been with the group since 2017, first as CFO of Swedol AB and then of Alligo following the Swedol–Tools merger, Wisenborn Bellander is seen by the board as a key figure in reinforcing the company’s management structure and strategic execution, reflecting confidence in her track record of strategic leadership and financial discipline and signaling continuity and stability for stakeholders during the company’s ongoing value-creation efforts.

Alligo Sets Date for 2025 Year-End Report and Investor Webcast

Alligo has scheduled the publication of its year-end report for 2025 for Friday, 13 February 2026 at 08:00 CET, followed by a webcasted telephone conference at 11:00 CET where CEO Clein Johansson Ullenvik and CFO Irene Wisenborn Bellander will present the financial results and take questions from participants. The presentation, to be held in English and accessible via pre-registered phone dial-in or online webcast, underscores the company’s focus on transparent communication with investors and other stakeholders, with presentation materials available on the company’s website beforehand and a replay offered afterwards to broaden access to its full-year performance review.