AQ Group AB (SE:AQ)
:AQ
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AQ Group AB
(AQ)
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Rating:65Neutral
Price Target:
kr196.00
▲(5.72% Upside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by solid underlying financial strength—especially a conservatively financed balance sheet—tempered by cash-flow variability and uneven growth. Technicals are a headwind with the stock trading below major moving averages, and valuation appears somewhat rich given the P/E and modest dividend yield.
Positive Factors
Conservative balance sheet
AQ's debt-to-equity has declined materially (from ~0.33–0.37 in 2020–2022 to ~0.12 in 2025) and equity has risen. This durable low-leverage profile supports capital allocation flexibility, downside protection in cyclical periods, and capacity to fund M&A or capex without stress.
Negative Factors
Volatile cash generation
Despite strong conversion in some years, intermittent negative FCF (2022) and a meaningful FCF decline in 2025 reveal execution and working-capital sensitivity. Persistent volatility limits predictable reinvestment, raises reliance on balance-sheet buffer, and complicates multi-year planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
AQ's debt-to-equity has declined materially (from ~0.33–0.37 in 2020–2022 to ~0.12 in 2025) and equity has risen. This durable low-leverage profile supports capital allocation flexibility, downside protection in cyclical periods, and capacity to fund M&A or capex without stress.
Read all positive factors
AQ Group AB (AQ) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr16.94B
Dividend Yield0.83%
Average Volume (3M)182.69K
Price to Earnings (P/E)26.8
Beta (1Y)1.12
Revenue Growth2.60%
EPS Growth3.05%
CountrySE
Employees7,733
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)1.81
Shares Outstanding91,732,790
10 Day Avg. Volume186,650
30 Day Avg. Volume182,688
Financial Highlights & Ratios
PEG Ratio17.66
Price to Book (P/B)3.87
Price to Sales (P/S)1.99
P/FCF Ratio26.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7.98
Revenue Forecast (FY)kr9.60B
AQ Group AB Business Overview & Revenue Model
Company Description
AQ Group AB (publ) manufactures and sells components and systems for industrial customers in Sweden, rest of European countries, and internationally. It operates in two segments, Component and System. The company provides electric cabinets for the...
How the Company Makes Money
AQ Group AB generates revenue through a combination of product sales and manufacturing services. The company has established key revenue streams from its core offerings, which include the production of electrical wiring harnesses, enclosures, and ...
AQ Group AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.07B | 8.55B | 8.97B | 7.05B | 5.47B |
| Gross Profit | 804.00M | 4.29B | 741.00M | 3.29B | 2.67B |
| EBITDA | 1.18B | 1.16B | 1.08B | 769.00M | 691.00M |
| Net Income | 676.00M | 665.00M | 632.00M | 410.00M | 366.00M |
Balance Sheet | |||||
| Total Assets | 6.91B | 6.57B | 5.96B | 5.70B | 4.70B |
| Cash, Cash Equivalents and Short-Term Investments | 992.00M | 919.00M | 426.00M | 231.00M | 283.00M |
| Total Debt | 565.00M | 635.00M | 717.00M | 1.04B | 844.00M |
| Total Liabilities | 2.22B | 2.16B | 2.20B | 2.52B | 2.07B |
| Stockholders Equity | 4.67B | 4.39B | 3.74B | 3.16B | 2.62B |
Cash Flow | |||||
| Free Cash Flow | 680.00M | 1.01B | 727.00M | -80.00M | 46.00M |
| Operating Cash Flow | 921.00M | 1.20B | 980.00M | 208.00M | 238.00M |
| Investing Cash Flow | -307.00M | -265.00M | -252.00M | -283.00M | -391.00M |
| Financing Cash Flow | -509.00M | -448.00M | -528.00M | 12.00M | -26.00M |
AQ Group AB Technical Analysis
Negative
185.40
Price Trends
187.56
Negative
187.32
Negative
187.93
Negative
Market Momentum
-0.58
Negative
47.91
Neutral
62.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AQ, the sentiment is Negative. The current price of 185.4 is below the 20-day moving average (MA) of 185.78, below the 50-day MA of 187.56, and below the 200-day MA of 187.93, indicating a bearish trend. The MACD of -0.58 indicates Negative momentum. The RSI at 47.91 is Neutral, neither overbought nor oversold. The STOCH value of 62.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:AQ.
AQ Group AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | kr19.70B | 30.46 | 15.97% | 1.03% | -1.37% | 14.78% | |
65 Neutral | kr16.94B | 26.76 | 15.15% | 0.83% | 2.60% | 3.05% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr11.46B | 25.44 | 9.59% | 2.09% | -1.74% | 26.36% | |
59 Neutral | kr13.83B | 21.23 | 6.31% | 4.09% | -3.73% | -22.34% | |
58 Neutral | kr14.58B | 34.37 | 11.96% | 1.55% | 2.11% | 13.90% | |
45 Neutral | kr6.92B | 37.27 | -3.67% | 1.25% | 4.65% | -136.09% |
* Industrials Sector Average
SE:AQ
AQ Group AB
184.70
26.43
16.70%
SE:AFRY
AFRY AB Class B
122.90
-60.66
-33.05%
SE:BERG.B
Bergman & Beving AB Class B
261.00
-25.52
-8.91%
SE:SYSR
Systemair AB
70.10
-2.96
-4.05%
SE:ALIG
Alimak Group AB
106.80
-22.15
-17.18%
SE:BUFAB
Bufab AB
103.50
24.47
30.96%
AQ Group AB Corporate Events
AQ Group lifts dividend after 2025 revenue growth but margins soften
Feb 12, 2026
AQ Group AB reported solid growth in the fourth quarter of 2025, with net sales up 9% to SEK 2.3 billion and operating profit rising 5%, although the profit margin before tax slipped to 9.1% as cash flow from operating activities halved compared w...
AQ Group Proposes Åsa Landén Ericsson as New Chair and Adds Former Systemair CEO to Board
Feb 6, 2026
AQ Group AB’s Nomination Committee will propose current board director Åsa Landén Ericsson as the new Chair of the Board and former Systemair CEO Roland Kasper as a new board director at the company’s Annual General Meeting o...
AQ Group AB Advances to Nasdaq Stockholm Large Cap Segment
Dec 17, 2025
AQ Group AB’s shares will advance to the Nasdaq Stockholm Large Cap segment from January 2, 2026, following a review based on market capitalization. This milestone reflects the company’s successful growth journey and bolsters its posit...
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.