Axfood AB (SE:AXFO)
:AXFO
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Axfood AB
(AXFO)
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Rating:56Neutral
Price Target:
kr301.00
▲(4.22% Upside)
Action:ReiteratedDate:04/24/26
The score is held up by steady operating performance and solid cash generation, but is capped by a weaker balance sheet with notably elevated leverage. Technicals are neutral-to-soft with the stock trading below key moving averages, and valuation looks demanding at ~33x earnings despite a ~3% dividend yield.
Positive Factors
Cash generation
Consistent positive operating and free cash flow provide durable internal funding for capex, distribution investments, dividends and debt service. Over 2–6 months this supports operational resilience, allows strategic reinvestment in logistics/own brands, and reduces reliance on external financing.
Negative Factors
High leverage
Markedly elevated leverage sharply reduces financial flexibility and amplifies downside risk. Over the medium term high debt burdens limit capacity for discretionary investment, make the company sensitive to interest costs and refinancing cycles, and constrain strategic maneuvering.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating and free cash flow provide durable internal funding for capex, distribution investments, dividends and debt service. Over 2–6 months this supports operational resilience, allows strategic reinvestment in logistics/own brands, and reduces reliance on external financing.
Read all positive factors
Axfood AB (AXFO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr60.00B
Dividend Yield3.05%
Average Volume (3M)218.03K
Price to Earnings (P/E)33.2
Beta (1Y)0.20
Revenue Growth5.73%
EPS Growth15.74%
CountrySE
Employees15,000
SectorGeneral
Sector StrengthN/A
IndustryGrocery Stores
Share Statistics
EPS (TTM)11.17
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
kr315.00Price Target Upside9.07% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)12.67
Revenue Forecast (FY)kr92.75B
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 makes money primarily by selling groceries and related consumer goods through its retail operations and by supplying goods through wholesale/distribution. Key revenue streams include: (1) Retail sales to consumers across its store concepts ...
Axfood AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 89.71B | 89.15B | 84.06B | 81.11B | 73.47B | 57.89B |
| Gross Profit | 13.25B | 13.13B | 12.23B | 11.33B | 10.08B | 8.95B |
| EBITDA | 7.83B | 7.74B | 6.68B | 6.41B | 5.78B | 5.10B |
| Net Income | 2.41B | 2.34B | 2.19B | 2.36B | 2.36B | 2.15B |
Balance Sheet | ||||||
| Total Assets | 37.22B | 36.91B | 35.43B | 30.02B | 28.62B | 23.73B |
| Cash, Cash Equivalents and Short-Term Investments | 384.00M | 1.08B | 735.00M | 688.00M | 559.00M | 734.00M |
| Total Debt | 16.09B | 15.40B | 15.30B | 9.76B | 9.25B | 8.00B |
| Total Liabilities | 30.77B | 29.08B | 28.04B | 22.83B | 21.72B | 18.55B |
| Stockholders Equity | 6.12B | 7.51B | 7.05B | 6.88B | 6.61B | 4.95B |
Cash Flow | ||||||
| Free Cash Flow | 4.87B | 5.37B | 3.92B | 3.86B | 3.33B | 2.77B |
| Operating Cash Flow | 6.61B | 6.75B | 5.46B | 5.81B | 5.93B | 4.59B |
| Investing Cash Flow | -1.93B | -1.77B | -3.18B | -2.21B | -2.78B | -3.84B |
| Financing Cash Flow | -4.64B | -4.64B | -2.23B | -3.47B | -3.32B | -1.55B |
Axfood AB Technical Analysis
Positive
288.80
Price Trends
320.95
Negative
302.37
Positive
292.13
Positive
Market Momentum
0.55
Negative
51.22
Neutral
42.97
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 317.42, below the 50-day MA of 320.95, and below the 200-day MA of 292.13, indicating a neutral trend. The MACD of 0.55 indicates Negative momentum. The RSI at 51.22 is Neutral, neither overbought nor oversold. The STOCH value of 42.97 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | kr15.40B | 18.03 | 14.28% | 2.74% | 0.47% | 20.22% | |
69 Neutral | kr1.83B | 5.56 | -0.17% | 2.34% | -3.99% | 123.69% | |
65 Neutral | kr9.60B | 23.89 | ― | 2.56% | 8.70% | 47.82% | |
57 Neutral | kr4.11B | 33.11 | 9.34% | 4.83% | -1.56% | 16.94% | |
56 Neutral | kr60.00B | 33.20 | 31.10% | 3.05% | 5.73% | 15.74% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr3.17B | 29.51 | 0.87% | ― | 4.55% | -71.28% |
* General Sector Average
SE:AXFO
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Axfood AB Corporate Events
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...
Axfood schedules Q1 2026 results presentation for investors and media
Apr 9, 2026
Axfood AB has invited investors, analysts and media to a webcast and teleconference on 23 April to present its interim report for the first quarter of 2026, which will be published earlier that morning. President and CEO Simone Margulies and CFO A...
Axfood AGM Backs Dividend, Board Line-Up and New Incentive Plan
Mar 18, 2026
Axfood’s 2026 Annual General Meeting reaffirmed stability at the top of the food retailer by re-electing seven directors, including Chair Caroline Berg, while noting the departure of board member Fabian Bengtsson and extending Deloitte AB...
Axfood Posts Market-Beating Growth and Advances Logistics and Sustainability in 2025
Feb 20, 2026
Axfood has published its 2025 Annual and Sustainability Report, highlighting another year of growth above the market and strengthened positions across its key chains Willys, Hemköp, Snabbgross and City Gross amid a dynamic retail environment....
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...
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.