Axfood AB (SE:AXFO)
:AXFO
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Axfood AB
(AXFO)
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Rating:65Neutral
Price Target:
kr361.00
▲(25.00% Upside)
Action:ReiteratedDate:01/31/26
The score is driven mainly by solid operating performance and cash generation, but tempered by materially higher leverage and some margin/EBIT pressure. Technicals are supportive (price above key moving averages with positive MACD), while valuation is a modest headwind due to a higher P/E despite a moderate dividend yield.
Positive Factors
Cash generation
Consistent and improving cash generation (operating cash flow ~6.8B, FCF ~5.4B in 2025) supports investment, dividends and debt servicing capacity. Strong FCF coverage of earnings (~56–80%) indicates high quality of profits and durable internal funding for strategic moves.
Negative Factors
Rising leverage
Material increase in leverage (debt/equity ~3.45x) elevates financial risk and reduces balance-sheet flexibility. Higher fixed obligations limit ability to absorb shocks, constrain strategic optionality and make the company more sensitive to margin volatility or cost inflation over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent and improving cash generation (operating cash flow ~6.8B, FCF ~5.4B in 2025) supports investment, dividends and debt servicing capacity. Strong FCF coverage of earnings (~56–80%) indicates high quality of profits and durable internal funding for strategic moves.
Read all positive factors
Axfood AB (AXFO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr68.00B
Dividend Yield3.05%
Average Volume (3M)218.03K
Price to Earnings (P/E)27.9
Beta (1Y)0.14
Revenue Growth6.28%
EPS Growth-10.08%
CountrySE
Employees15,000
SectorGeneral
Sector StrengthN/A
IndustryGrocery Stores
Share Statistics
EPS (TTM)2.59
Shares Outstanding216,843,250
10 Day Avg. Volume196,345
30 Day Avg. Volume218,034
Financial Highlights & Ratios
PEG Ratio4.00
Price to Book (P/B)8.34
Price to Sales (P/S)0.70
P/FCF Ratio11.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr340.00Price Target Upside17.73% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)13.44
Revenue Forecast (FY)kr93.75B
Axfood AB Business Overview & Revenue Model
Company Description
Axfood AB (publ) engages in the food retail and wholesale businesses in Sweden. It operates through Willys, Hemköp, Dagab, and Axfood Snabbgross segments. The company operates its retail business through Willys, Hemköp, and Eurocash chains; and th...
How the Company Makes Money
Axfood generates revenue primarily through the sale of grocery products in its retail chains, which include both physical stores and online platforms. The company earns money from direct sales of food and non-food items, leveraging a mix of brande...
Axfood AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 89.15B | 84.06B | 81.11B | 73.47B | 57.89B |
| Gross Profit | 13.13B | 12.23B | 11.33B | 10.08B | 8.95B |
| EBITDA | 7.74B | 6.68B | 6.41B | 5.78B | 5.10B |
| Net Income | 2.34B | 2.19B | 2.36B | 2.36B | 2.15B |
Balance Sheet | |||||
| Total Assets | 36.91B | 35.43B | 30.02B | 28.62B | 23.73B |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 735.00M | 688.00M | 559.00M | 734.00M |
| Total Debt | 15.40B | 15.30B | 9.76B | 9.25B | 8.00B |
| Total Liabilities | 29.08B | 28.04B | 22.83B | 21.72B | 18.55B |
| Stockholders Equity | 7.51B | 7.05B | 6.88B | 6.61B | 4.95B |
Cash Flow | |||||
| Free Cash Flow | 5.37B | 3.92B | 3.86B | 3.33B | 2.77B |
| Operating Cash Flow | 6.75B | 5.46B | 5.81B | 5.93B | 4.59B |
| Investing Cash Flow | -1.77B | -3.18B | -2.21B | -2.78B | -3.84B |
| Financing Cash Flow | -4.64B | -2.23B | -3.47B | -3.32B | -1.55B |
Axfood AB Technical Analysis
Positive
288.80
Price Trends
316.68
Negative
293.96
Positive
288.59
Positive
Market Momentum
-1.42
Positive
49.21
Neutral
23.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AXFO, the sentiment is Positive. The current price of 288.8 is below the 20-day moving average (MA) of 317.84, below the 50-day MA of 316.68, and above the 200-day MA of 288.59, indicating a neutral trend. The MACD of -1.42 indicates Positive momentum. The RSI at 49.21 is Neutral, neither overbought nor oversold. The STOCH value of 23.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:AXFO.
Axfood AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | kr14.62B | 14.56 | 14.28% | 2.74% | 0.81% | 57.02% | |
65 Neutral | kr68.00B | 27.92 | 31.10% | 3.05% | 6.28% | -10.08% | |
62 Neutral | kr4.44B | 15.85 | 9.34% | 4.83% | 3.79% | 39.15% | |
58 Neutral | kr1.72B | 9.34 | -0.17% | 2.34% | -2.95% | -112.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr9.34B | 17.69 | ― | 2.56% | 7.37% | 2.90% | |
50 Neutral | kr3.25B | 58.18 | 0.87% | ― | 5.99% | -38.16% |
* General Sector Average
SE:AXFO
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Axfood AB Corporate Events
Axfood convenes 2026 AGM with votes on incentives, board and buybacks
Feb 10, 2026
Axfood has called its 2026 Annual General Meeting for 18 March in Stockholm, inviting shareholders to participate in person, by proxy or via postal voting subject to registration and shareholding verification deadlines. The company outlines detail...
Axfood Extends Market-Share Lead With Strong 2025 and Boosts Investments for 2026
Jan 29, 2026
Axfood closed 2025 with retail sales growth well above the Swedish grocery market and delivered its eleventh consecutive year of market share gains, supported by strong performance across key chains Willys, Hemköp, City Gross and Snabbgross, ...
Axfood Achieves Fossil-Free Truck Transport and Accelerates Fleet Electrification
Jan 29, 2026
Axfood has achieved fossil-free transport for all truck traffic between its warehouses and stores across Sweden, reaching this target several years ahead of its previous 2030 timetable by converting more than 200 group-owned trucks and at least as...
Axfood Schedules 29 January Webcast for 2025 Year-End Report
Jan 15, 2026
Axfood has scheduled the presentation of its 2025 year-end report for 29 January, with the report release at 7:00 am CET and a webcast and teleconference at 9:30 am CET led by President and CEO Simone Margulies and CFO Anders Lexmon in English. Th...
Axfood invests EUR 265 million in automated logistics hub to boost southern Sweden capacity
Dec 19, 2025
Axfood has signed a EUR 265 million agreement with German automation specialist Witron to supply automation equipment for a new, highly automated logistics centre in Kungsbacka, southern Sweden, scheduled to begin operations and ramp-up in 2030. T...
Axfood Proposes Board Re-Election Ahead of 2026 AGM
Dec 11, 2025
Axfood’s Nominating Committee has proposed the re-election of several board members, including Caroline Berg as Chairman, ahead of the Annual General Meeting in March 2026. The committee’s proposals, aimed at ensuring continuity in lea...
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.