Beijer Ref AB Class B (SE:BEIJ.B)
:BEIJ.B
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Beijer Ref AB Class B
(BEIJ.B)
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Rating:58Neutral
Price Target:
kr139.00
▼(-5.54% Downside)
Action:ReiteratedDate:04/25/26
The score is primarily held back by weaker TTM revenue momentum and deteriorating/volatile free-cash-flow conversion, despite generally stable profitability and manageable leverage. Technicals are mixed with the price below key longer-term moving averages, and valuation appears stretched (high P/E with a modest dividend yield).
Positive Factors
Stable profitability
Consistent operating margins near ~10% and mid-single-digit net margins provide durable profitability. That level supports ongoing internal cash generation, steady returns on equity and the ability to reinvest in distribution, product support and working capital through cycles.
Negative Factors
TTM revenue decline
A sharp trailing‑twelve‑month revenue decline reverses years of expansion and can erode scale economics. Persistent top-line weakness would reduce purchasing leverage, pressure operating margins and may force operational adjustments across regions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable profitability
Consistent operating margins near ~10% and mid-single-digit net margins provide durable profitability. That level supports ongoing internal cash generation, steady returns on equity and the ability to reinvest in distribution, product support and working capital through cycles.
Read all positive factors
Beijer Ref AB Class B (BEIJ.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr63.61B
Dividend Yield0.95%
Average Volume (3M)582.32K
Price to Earnings (P/E)34.2
Beta (1Y)1.13
Revenue Growth-0.44%
EPS Growth0.78%
CountrySE
Employees6,733
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)4.58
Shares Outstanding481,135,530
10 Day Avg. Volume537,611
30 Day Avg. Volume582,322
Financial Highlights & Ratios
PEG Ratio7.14
Price to Book (P/B)3.47
Price to Sales (P/S)2.04
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr140.00Price Target Upside-4.86% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)5.46
Revenue Forecast (FY)kr38.75B
Beijer Ref AB Class B Business Overview & Revenue Model
Company Description
Beijer Ref AB (publ), together with its subsidiaries, engages in the wholesale of refrigeration products for refrigeration installation contractors, and service and contracting companies. It offers refrigeration and air conditioning units, heat pu...
How the Company Makes Money
Beijer Ref primarily makes money by distributing HVAC/R products and related components from manufacturers to professional customers. Revenue is generated mainly from product sales across categories such as refrigeration components and systems, ai...
Beijer Ref AB Class B Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.72B | 37.07B | 35.66B | 32.15B | 22.64B | 16.90B |
| Gross Profit | 3.33B | 3.36B | 11.51B | 10.33B | 6.83B | 5.04B |
| EBITDA | 4.60B | 4.62B | 4.61B | 4.07B | 2.47B | 1.84B |
| Net Income | 2.32B | 2.33B | 2.23B | 2.38B | 1.25B | 979.00M |
Balance Sheet | ||||||
| Total Assets | 46.74B | 44.52B | 46.15B | 39.17B | 21.86B | 15.30B |
| Cash, Cash Equivalents and Short-Term Investments | 2.87B | 3.42B | 3.06B | 1.96B | 1.52B | 1.00B |
| Total Debt | 13.38B | 12.92B | 12.67B | 10.25B | 8.61B | 5.45B |
| Total Liabilities | 23.70B | 22.63B | 21.93B | 17.73B | 15.15B | 10.03B |
| Stockholders Equity | 22.94B | 21.80B | 24.07B | 21.32B | 6.60B | 5.17B |
Cash Flow | ||||||
| Free Cash Flow | 614.00M | 0.00 | 2.63B | 1.39B | -139.00M | -112.95M |
| Operating Cash Flow | 4.07B | 4.21B | 3.08B | 1.75B | 81.00M | 89.12M |
| Investing Cash Flow | -3.12B | -2.73B | -2.73B | -9.23B | -1.33B | -748.95M |
| Financing Cash Flow | -500.00M | -898.00M | 666.00M | 7.97B | 1.69B | 469.06M |
Beijer Ref AB Class B Technical Analysis
Positive
147.15
Price Trends
134.09
Positive
139.39
Positive
148.30
Positive
Market Momentum
3.74
Negative
76.64
Negative
94.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BEIJ.B, the sentiment is Positive. The current price of 147.15 is above the 20-day moving average (MA) of 134.57, above the 50-day MA of 134.09, and below the 200-day MA of 148.30, indicating a bullish trend. The MACD of 3.74 indicates Negative momentum. The RSI at 76.64 is Negative, neither overbought nor oversold. The STOCH value of 94.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BEIJ.B.
Beijer Ref AB Class B Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | kr85.59B | 20.02 | 9.65% | 1.95% | -2.11% | 1.86% | |
71 Outperform | kr58.16B | 14.88 | 22.44% | 1.71% | 10.54% | -8.85% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr11.54B | 19.26 | 9.59% | 2.09% | -4.27% | -16.12% | |
60 Neutral | kr12.71B | 22.92 | 12.07% | 1.33% | -5.65% | -16.37% | |
58 Neutral | kr63.61B | 34.22 | 11.04% | 0.95% | -0.44% | 0.78% | |
53 Neutral | kr4.28B | 26.49 | ― | 2.41% | -4.65% | -17.02% |
* Industrials Sector Average
SE:BEIJ.B
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Beijer Ref AB Class B Corporate Events
Beijer Ref AGM Approves Dividend, Share Issue Mandate and New Incentive Plan
Apr 23, 2026
Beijer Ref’s annual general meeting approved the 2025 financial statements, discharged the board and CEO from liability, and set a dividend of SEK 1.50 per share for 2025, to be paid in two instalments in April and October 2026. Shareholders...
Beijer Ref Holds Margins Amid FX Headwinds and Expands With Italian A/C Acquisition
Apr 23, 2026
Beijer Ref AB reported first-quarter 2026 net sales of SEK 8,549 million, a 3.9 percent decline year-on-year, though sales rose 3 percent excluding currency effects and organic growth was flat. EBITA slipped 3.3 percent to SEK 804 million but incr...
Beijer Ref Sets 2026 AGM and Proposes Split Dividend Payout
Mar 19, 2026
Beijer Ref AB has called its 2026 Annual General Meeting for 23 April in Malmö, offering shareholders the option to participate in person or via postal and electronic voting, subject to registration and proxy rules. The agenda covers standard...
Beijer Ref Raises SEK 2.5 Billion in Strongly Subscribed Bond Issue
Mar 4, 2026
Beijer Ref AB has raised SEK 2.5 billion through the issuance of four bonds under its existing MTN program, split between two- and four-year maturities and including both fixed- and floating-rate structures. The bonds, which will be listed on Nasd...
Beijer Ref Cushions FX-Driven Sales Dip with Acquisitions and Strong Cash Flow in Q4 2025
Jan 30, 2026
Beijer Ref reported fourth-quarter 2025 net sales of SEK 8.26 billion, down 6.2% year-on-year due to currency headwinds, though sales rose 2% excluding FX and were supported by acquisition-driven growth. Organic sales slipped 1%, while EBITA exclu...
Former CEO Per Bertland Proposed as New Chair of Beijer Ref
Jan 27, 2026
Beijer Ref’s Nomination Committee has proposed former chief executive Per Bertland as the new Chair of the Board, following current Chair Kate Swann’s decision not to stand for re-election at the upcoming Annual General Meeting. Swann,...
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.