Arjo AB Class B (SE:ARJO.B)
:ARJO.B
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Arjo AB
(ARJO.B)
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Rating:63Neutral
Price Target:
kr27.00
▼(-16.56% Downside)
Action:ReiteratedDate:04/24/26
The score is driven primarily by solid cash-flow strength and a reasonable balance sheet despite weaker revenue momentum and margin compression. Valuation is supportive with a moderate P/E and a solid dividend yield. Technicals remain mixed with the stock still below longer-term moving averages, while the latest earnings call was constructive on growth and cash flow but flagged ongoing margin headwinds from FX/tariffs/mix.
Positive Factors
Strong cash generation
Consistently strong operating and free cash flow indicate high-quality earnings and funding capacity. This cash conversion supports reinvestment in products and services, funds dividends or buybacks, and provides flexibility to absorb short-term margin shocks while management executes strategic initiatives.
Negative Factors
Soft revenue growth
Declining top-line trends reduce operating leverage and limit the company's ability to absorb fixed costs. Persistent soft revenue constrains reinvestment, weakens pricing power, and increases dependence on cost reductions or non‑recurring cash flow to meet earnings targets over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently strong operating and free cash flow indicate high-quality earnings and funding capacity. This cash conversion supports reinvestment in products and services, funds dividends or buybacks, and provides flexibility to absorb short-term margin shocks while management executes strategic initiatives.
Read all positive factors
Arjo AB (ARJO.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr6.60B
Dividend Yield3.01%
Average Volume (3M)513.42K
Price to Earnings (P/E)15.7
Beta (1Y)0.60
Revenue Growth-4.91%
EPS Growth-23.36%
CountrySE
Employees6,500
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)0.40
Shares Outstanding254,152,370
10 Day Avg. Volume450,788
30 Day Avg. Volume513,419
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)1.17
Price to Sales (P/S)0.79
P/FCF Ratio11.52
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)1.84
Revenue Forecast (FY)kr11.01B
Arjo AB Business Overview & Revenue Model
Company Description
Arjo AB (publ) develops and sells medical devices and solutions for patients with reduced mobility and age-related health challenges in North America, Western Europe, and internationally. It offers products and solutions for patient handling, hygi...
How the Company Makes Money
Arjo makes money primarily by selling and leasing medical devices and care equipment to healthcare providers and care facilities, and by providing recurring services tied to its installed base. Key revenue streams typically include: (1) Product/eq...
Arjo AB Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 10, 2026
Earnings Call Sentiment Positive
The call presented a generally constructive and stable picture: organic revenue growth (3.8%), improved cash flow (SEK 237m) and stronger cash conversion (52.7%) alongside an improved EBIT margin (6.8%). These positive elements were tempered by margin pressure from tariffs, FX and an unfavorable product/country mix (gross margin down to 42.6%), a modest absolute decline in EBITDA and continuing regional softness in parts of Western Europe and the U.S. rental market. Management emphasized execution, margin mitigation actions (efficiencies, price discussion) and an active strategy process to capture untapped potential, suggesting confidence in addressing the identified headwinds.Positive Updates
Revenue Growth Within Guidance
Group sales grew 3.8% in Q1 2026, described as a stable start and within company guidance, driven by U.S. capital sales and strong Rest of World performance.
Negative Updates
Gross Margin Decline
Gross margin decreased to 42.6% from 43.7% year-over-year (down 1.1 percentage points). Management attributed pressure to unfavorable product/country mix and tariffs/FX headwinds.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth Within Guidance
Group sales grew 3.8% in Q1 2026, described as a stable start and within company guidance, driven by U.S. capital sales and strong Rest of World performance.
Read all positive updates
Company Guidance
Management reiterated that Q1 organic sales growth of 3.8% was “within our guidance” while reporting adjusted EBITDA of SEK 456m (16.9% margin v 17.0% a year ago), adjusted EBIT SEK 190m (vs SEK 208m), and a gross margin of 42.6% (down from 43.7%); they cited SEK 123m negative FX on gross profit, SEK 10m U.S. tariffs (~0.4 pct‑point), and an unfavorable product/country mix (~‑1 pct‑point) as the main margin headwinds, and noted EBIT excluding tariffs/FX was in line with last year. Cash flow and balance sheet metrics supporting the guidance included operating cash flow SEK 237m (+SEK 53m YoY), change in working capital ‑SEK 142m (working capital days 83 v 81), cash conversion 52.7% (vs 41.3%), investing cash flow ‑SEK 135m (vs ‑SEK 215m, with SEK 48m lower rental asset investments), net debt/adjusted EBITDA 2.2 and an equity ratio of 50.5%; management said they are preparing for Middle East‑related cost pressures and possible price actions but gave no quantitative forecast, and expect the new group strategy to be approved during summer and communicated in H2 2026.Arjo AB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
64
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.84B | 11.00B | 11.29B | 10.98B | 9.98B | 9.07B |
| Gross Profit | 4.30B | 4.32B | 4.91B | 4.74B | 4.21B | 4.21B |
| EBITDA | 1.78B | 1.81B | 2.03B | 1.96B | 1.70B | 2.03B |
| Net Income | 351.00M | 334.00M | 498.00M | 480.00M | 449.00M | 742.00M |
Balance Sheet | ||||||
| Total Assets | 15.48B | 14.98B | 16.28B | 16.00B | 16.17B | 14.61B |
| Cash, Cash Equivalents and Short-Term Investments | 898.00M | 836.00M | 892.00M | 923.00M | 949.00M | 757.00M |
| Total Debt | 5.34B | 5.35B | 5.42B | 5.49B | 6.31B | 5.45B |
| Total Liabilities | 7.67B | 7.52B | 7.94B | 8.42B | 8.54B | 7.73B |
| Stockholders Equity | 7.81B | 7.46B | 8.34B | 7.58B | 7.62B | 6.88B |
Cash Flow | ||||||
| Free Cash Flow | 1.11B | 757.00M | 838.00M | 1.38B | 15.00M | 974.00M |
| Operating Cash Flow | 1.49B | 1.44B | 1.52B | 2.06B | 915.00M | 1.73B |
| Investing Cash Flow | -625.00M | -705.00M | -635.00M | -638.00M | -902.00M | -695.00M |
| Financing Cash Flow | -628.00M | -730.00M | -907.00M | -1.43B | 136.00M | -1.28B |
Arjo AB Technical Analysis
Neutral
32.36
Price Trends
26.11
Positive
28.51
Negative
30.70
Negative
Market Momentum
0.12
Negative
67.21
Neutral
92.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ARJO.B, the sentiment is Neutral. The current price of 32.36 is above the 20-day moving average (MA) of 25.44, above the 50-day MA of 26.11, and above the 200-day MA of 30.70, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 67.21 is Neutral, neither overbought nor oversold. The STOCH value of 92.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:ARJO.B.
Arjo AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | kr14.53B | 60.12 | 19.59% | ― | 21.78% | 51.16% | |
69 Neutral | kr7.23B | 31.86 | 15.16% | ― | 18.06% | 10.57% | |
63 Neutral | kr6.60B | 15.75 | 4.40% | 3.01% | -4.91% | -23.36% | |
61 Neutral | kr17.43B | 34.62 | 7.24% | 0.46% | -0.32% | 83.82% | |
58 Neutral | kr14.18B | 31.59 | 3.34% | 0.80% | -5.68% | -1106.19% | |
54 Neutral | kr20.35B | 546.38 | 3.08% | 4.25% | -4.32% | -103.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Arjo AB Corporate Events
Arjo AGM Approves Dividend, Board Mandates and Share Buyback Authorization
Apr 22, 2026
Arjo AB’s 2026 Annual General Meeting in Malmö approved the 2025 financial statements and confirmed the company’s position with a global workforce of about 7,000 employees serving mobility-challenged patients and healthcare provid...
Arjo posts stable Q1 2026 and outlines next phase of strategic focus
Apr 22, 2026
Arjo AB reported a stable first quarter of 2026 with net sales of SEK 2,698 million and organic growth of 3.8%, driven by solid demand for capital goods in the U.S., strong diagnostic and service performance, and contributions from emerging market...
Arjo sets April 22 date for Q1 2026 report and investor call
Apr 8, 2026
Arjo has scheduled the release of its interim report for the first quarter of 2026 on April 22 at 07:00 CEST, followed by a conference call at 08:00 CEST led by President and CEO Andréas Elgaard and CFO Christofer Carlsson. Fund managers, ana...
Arjo Publishes 2025 Annual and Sustainability Report Highlighting Strategy and ESG Focus
Mar 31, 2026
Arjo AB has released its 2025 Annual and Sustainability Report, detailing its performance, targets, and results alongside its strategic focus on capturing value from global megatrends driving increased care needs. The report bundles financial stat...
Arjo Calls 2026 AGM, Expands Options for Shareholder Participation
Mar 19, 2026
Arjo AB has convened its Annual General Meeting for April 22, 2026, in Malmö, Sweden, giving shareholders the option to attend physically or vote in advance by postal ballot in line with its Articles of Association. The notice details eligibi...
Arjo Ends 2025 With Solid Demand, Weaker Margins and New Strategy Drive
Jan 30, 2026
Arjo reported stable global demand in the fourth quarter of 2025, posting 3.4% organic sales growth but a decline in reported net sales to SEK 2.8 billion and weaker profitability, as the gross margin fell to 42.1% and adjusted operating profit dr...
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.