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AQ Group AB
(AQ)
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Rating:64Neutral
Price Target:
kr241.00
▲(14.43% Upside)
Action:Reiterated
Date:07/15/26
The score is primarily supported by strong balance-sheet conservatism and steady operating profitability. It is held back by volatile cash-flow conversion and a recent decline in free cash flow, alongside a relatively high P/E and only a modest dividend yield. Technical signals are mixed with negative momentum indicators offsetting a still-supportive longer-term trend.
Positive Factors
Conservative balance sheet
Very low leverage and a declining debt-to-equity ratio provide durable financial flexibility. This conservatism supports investment for capacity or M&A, cushions cyclical industrial demand, and sustains mid‑teen ROE without pressuring liquidity in the medium term.
Negative Factors
Volatile cash conversion
Material swings in free cash flow reduce predictability of internal funding for capex, dividends, or working capital. A 25% TTM FCF decline and past negative FCF year signal structural variability tied to working capital or investment timing that can strain planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a declining debt-to-equity ratio provide durable financial flexibility. This conservatism supports investment for capacity or M&A, cushions cyclical industrial demand, and sustains mid‑teen ROE without pressuring liquidity in the medium term.
Read all positive factors
AQ Group AB (AQ) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr19.26B
Dividend Yield0.89%
Average Volume (3M)182.69K
Price to Earnings (P/E)27.4
Beta (1Y)1.15
Revenue Growth7.61%
EPS Growth7.18%
CountrySE
Employees7,848
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)7.67
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)8.33
Revenue Forecast (FY)kr9.83B
AQ Group AB Business Overview & Revenue Model
Company Description
AQ Group AB (publ) is a Swedish enterprise specializing in the manufacturing and distribution of industrial components and systems. The company serves a diverse client base across Sweden, other European nations, and globally. Its operations are st...
How the Company Makes Money
AQ makes money primarily by selling manufactured components, assemblies, and complete subsystems to OEM and industrial customers under business-to-business supply agreements. Revenue is generated through (1) serial production: recurring sales from...
AQ Group AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.37B | 9.07B | 8.55B | 8.97B | 7.05B | 5.47B |
| Gross Profit | 2.81B | 804.00M | 4.29B | 741.00M | 3.29B | 2.67B |
| EBITDA | 1.22B | 1.18B | 1.16B | 1.08B | 769.00M | 691.00M |
| Net Income | 704.00M | 676.00M | 665.00M | 632.00M | 410.00M | 366.00M |
Balance Sheet | ||||||
| Total Assets | 7.50B | 6.91B | 6.57B | 5.96B | 5.70B | 4.70B |
| Cash, Cash Equivalents and Short-Term Investments | 849.00M | 992.00M | 919.00M | 426.00M | 231.00M | 283.00M |
| Total Debt | 436.00M | 565.00M | 635.00M | 717.00M | 1.04B | 844.00M |
| Total Liabilities | 2.45B | 2.22B | 2.16B | 2.20B | 2.52B | 2.07B |
| Stockholders Equity | 5.04B | 4.67B | 4.39B | 3.74B | 3.16B | 2.62B |
Cash Flow | ||||||
| Free Cash Flow | 564.00M | 680.00M | 1.01B | 727.00M | -80.00M | 46.00M |
| Operating Cash Flow | 807.00M | 921.00M | 1.20B | 980.00M | 208.00M | 238.00M |
| Investing Cash Flow | -246.00M | -307.00M | -265.00M | -252.00M | -283.00M | -391.00M |
| Financing Cash Flow | -610.00M | -509.00M | -448.00M | -528.00M | 12.00M | -26.00M |
AQ Group AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr23.60B | 35.34 | 23.72% | 1.22% | 6.64% | 12.05% | |
68 Neutral | kr91.24B | 40.97 | 28.86% | 0.94% | 3.78% | 13.61% | |
67 Neutral | kr25.32B | 35.95 | 16.99% | 0.94% | 4.63% | 18.42% | |
64 Neutral | kr19.26B | 27.38 | 14.68% | 0.87% | 7.61% | 7.18% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr7.56B | 33.22 | 12.00% | 1.47% | -1.23% | ― | |
48 Neutral | kr8.33B | 256.76 | 1.59% | 1.93% | -0.27% | -89.49% |
* Industrials Sector Average
SE:AQ
AQ Group AB
203.00
11.02
5.74%
SE:ADDT.B
Addtech AB Class B
336.20
-5.13
-1.50%
SE:TROAX
Troax Group AB Class A
137.20
-0.82
-0.59%
SE:BERG.B
Bergman & Beving AB Class B
282.50
-65.28
-18.77%
SE:OEM.B
OEM International AB Class B
167.60
29.84
21.66%
SE:BUFAB
Bufab AB
131.80
34.65
35.66%
AQ Group AB Corporate Events
AQ Group lifts profit margin target after strong Q2 2026
Jul 14, 2026
AQ Group AB reported a robust second quarter of 2026, with net sales rising 10% to SEK 2,577 million and operating profit increasing 17% to SEK 255 million, lifting the profit margin before tax to 9.9%. Earnings per share before dilution improved ...
AQ Group Raises Profitability Target to Strengthen Growth Ambitions
Jul 14, 2026
AQ Group AB, a global industrial manufacturer of components and systems listed on Nasdaq Stockholm, has built its business around specialized operating companies that jointly deliver cost-effective solutions to demanding customers. With operations...
AQ Group acquires UK electrical cabinet maker Time 24 to expand industrial offerings
May 11, 2026
AQ Group AB, a Swedish-based global manufacturer of industrial components and systems, continues to build its presence in key manufacturing markets through a network of specialized operating companies. The group, listed on Nasdaq Stockholm, serves...
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.