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Axfood AB
(AXFO)
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Rating:54Neutral
Price Target:
kr232.00
▼(-19.67% Downside)
Action:Reiterated
Date:07/16/26
The score is held back primarily by weak technicals (price below all key moving averages, bearish MACD, very low RSI), indicating strong negative momentum. Financial performance is resilient with solid revenue growth and steady cash generation, but elevated leverage materially increases risk. Valuation is reasonable with a supportive dividend yield, providing some offset but not enough to overcome the momentum and balance-sheet concerns.
Positive Factors
Top-line momentum & stable operating margins
Sustained revenue growth (22.5% TTM) with stable grocery-level gross and EBIT margins indicates durable demand for core retail offerings and effective cost control. Over 2–6 months this supports cash generation, store and private-label investment, and resilience versus cyclical dips in volume or pricing.
Negative Factors
Elevated financial leverage
Material increase in leverage to ~2.63 significantly raises financing risk and reduces strategic flexibility. Elevated debt amplifies returns in good times but constrains room for price competition, M&A or cyclical investment and increases vulnerability if margins or sales soften over the next months.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line momentum & stable operating margins
Sustained revenue growth (22.5% TTM) with stable grocery-level gross and EBIT margins indicates durable demand for core retail offerings and effective cost control. Over 2–6 months this supports cash generation, store and private-label investment, and resilience versus cyclical dips in volume or pricing.
Read all positive factors
Axfood AB (AXFO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr49.37B
Dividend Yield3.05%
Average Volume (3M)218.03K
Price to Earnings (P/E)20.5
Beta (1Y)0.19
Revenue Growth3.59%
EPS Growth14.70%
CountrySE
Employees15,000
SectorGeneral
Sector StrengthN/A
IndustryGrocery Stores
Share Statistics
EPS (TTM)11.26
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
kr275.00Price Target Upside-4.78% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)12.31
Revenue Forecast (FY)kr92.04B
Axfood AB Business Overview & Revenue Model
Company Description
Axfood AB (publ) is a leading Swedish entity specializing in both food retail and wholesale activities. The company's operations are divided into key segments such as Willys, Hemköp, Dagab, and Axfood Snabbgross. For its retail presence, Axfood ma...
How the Company Makes Money
Axfood primarily makes money by selling groceries and everyday consumer products to end customers through its store networks (retail sales). Revenue is generated at the checkout from a wide assortment that typically includes fresh food, packaged f...
Axfood AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 89.91B | 89.15B | 84.06B | 81.11B | 73.47B | 57.89B |
| Gross Profit | 13.26B | 13.13B | 12.23B | 11.33B | 10.08B | 8.95B |
| EBITDA | 7.87B | 7.74B | 6.68B | 6.41B | 5.78B | 5.10B |
| Net Income | 2.43B | 2.34B | 2.19B | 2.36B | 2.36B | 2.15B |
Balance Sheet | ||||||
| Total Assets | 37.08B | 36.91B | 35.43B | 30.02B | 28.62B | 23.73B |
| Cash, Cash Equivalents and Short-Term Investments | 337.00M | 1.08B | 735.00M | 688.00M | 559.00M | 734.00M |
| Total Debt | 15.87B | 15.40B | 15.30B | 9.76B | 9.25B | 8.00B |
| Total Liabilities | 30.00B | 29.08B | 28.04B | 22.83B | 21.72B | 18.55B |
| Stockholders Equity | 6.74B | 7.51B | 7.05B | 6.88B | 6.61B | 4.95B |
Cash Flow | ||||||
| Free Cash Flow | 4.26B | 5.37B | 3.92B | 3.86B | 3.33B | 2.77B |
| Operating Cash Flow | 5.90B | 6.75B | 5.46B | 5.81B | 5.93B | 4.59B |
| Investing Cash Flow | -1.83B | -1.77B | -3.18B | -2.21B | -2.78B | -3.84B |
| Financing Cash Flow | -4.11B | -4.64B | -2.23B | -3.47B | -3.32B | -1.55B |
Axfood AB Technical Analysis
Negative
288.80
Price Trends
264.47
Negative
289.04
Negative
286.37
Negative
Market Momentum
-5.34
Positive
25.69
Positive
25.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AXFO, the sentiment is Negative. The current price of 288.8 is above the 20-day moving average (MA) of 258.63, above the 50-day MA of 264.47, and above the 200-day MA of 286.37, indicating a bearish trend. The MACD of -5.34 indicates Positive momentum. The RSI at 25.69 is Positive, neither overbought nor oversold. The STOCH value of 25.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | kr16.02B | 21.10 | 14.28% | 2.74% | 0.10% | 29.53% | |
69 Neutral | kr2.07B | 24.15 | -0.17% | 2.34% | -3.99% | 123.69% | |
65 Neutral | kr9.22B | 23.00 | ― | 2.56% | 8.70% | 47.82% | |
57 Neutral | kr3.64B | 17.96 | 9.34% | 4.83% | -2.46% | -7.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr2.90B | 90.72 | 0.87% | ― | 4.55% | -71.28% | |
54 Neutral | kr49.37B | 20.46 | 31.10% | 3.05% | 3.59% | 14.70% |
* General Sector Average
SE:AXFO
Axfood AB
228.50
-52.52
-18.69%
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SE:HUMBLE
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SE:SCST
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41.99%
Axfood AB Corporate Events
Axfood Delivers Earnings Growth Amid Deflation and Expands Grocery Footprint
Jul 15, 2026
Axfood reported modest top-line growth in the second quarter of 2026, with net sales up 0.9% and retail sales up 2.1%, supported by strong performance at Hemköp and continued expansion at Willys. Operating profit rose to SEK 964 million and t...
Axfood’s climate goals win Science Based Targets validation
Jul 2, 2026
Axfood has had its climate targets validated by the Science Based Targets initiative, aligning the food retailer’s decarbonisation strategy with the Paris Agreement’s 1.5°C pathway and sharpening its focus on cutting emissions acr...
Axfood schedules Q2 2026 results presentation for July 15
Jul 1, 2026
Axfood has invited investors, analysts and media to a presentation of its interim report for the second quarter of 2026, scheduled for 9:30 am CET on 15 July, with the report release set for 7:00 am CET the same day. The event will be led in Engli...
Axfood Names Long-Time Insider as New Head of Sustainability
Jun 22, 2026
Axfood has appointed long-time executive Susanna Wadegård as its new Head of Sustainability, tasking her with driving the group’s sustainable development agenda across its extensive food retail operations. Wadegård, who has nearly ...
Axfood taps ICA executive Lisa Wigert to lead strategy push
Jun 5, 2026
Axfood has appointed Lisa Wigert as its new Head of Strategy and Business Development, bringing her onto the Executive Committee from 4 September 2026. Wigert joins from rival retailer ICA Gruppen, where she spent nearly 13 years in senior strateg...
Axfood launches CFO succession process as long‑serving finance chief plans exit
May 22, 2026
Axfood has announced that long-serving CFO Anders Lexmon will leave the company after deciding to conclude his operational career, ending nearly 25 years with the group, including a decade as chief financial officer. He will remain in his role unt...
Axfood lifts first-quarter earnings on volume growth and efficiency gains
Apr 23, 2026
Axfood delivered higher earnings in the first quarter of 2026, driven by volume growth, positive customer traffic and improved efficiency across its grocery operations. Net sales rose 2.6% to SEK 21.6 billion and retail sales climbed 3.8% to SEK 1...
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.