Clas Ohlson AB (CLAS.B) AI Stock Analysis

• Market Cap: kr21.88B
• Dividend Yield: 1.88%
• Average Volume (3M): 90.20K
• Price to Earnings (P/E): 17.9
• Beta (1Y): 0.50
• Revenue Growth: 9.30%
• EPS Growth: 38.37%
• Country: SE
• Employees: 5,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Specialty Retail
• EPS (TTM): 4.85
• Shares Outstanding: 59,840,000
• 10 Day Avg. Volume: 66,764
• 30 Day Avg. Volume: 90,205
• PEG Ratio: 0.27
• Price to Book (P/B): 7.24
• Price to Sales (P/S): 1.50
• P/FCF Ratio: 10.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr320.00
• Price Target Upside: 9.81% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): 17.4
• Revenue Forecast (FY): kr12.49B

• Rating: 73 Outperform
• Price Target: kr423.00 ▲(45.16% Upside)
• Action: Upgraded Date: 02/25/26
• Date: Action: Upgraded 02/25/26

The score is driven primarily by strong financial performance, supported by a clear uptrend in the share price. Offsetting factors include stretched technical conditions (high RSI/Stoch) and a relatively higher valuation with only a modest dividend yield.

Positive Factors

Healthy profit margins

Sustained gross margin near 41% and improving net margin (~8% TTM) indicate durable pricing power, favorable product mix and operational efficiency. These margin levels support long-term cash generation and resilience to cost swings, helping fund reinvestment and margin-accretive initiatives.

High return on equity

ROE around 40% signals efficient capital allocation and strong profitability on shareholder equity. Over a multi-month horizon this suggests management converts invested equity into earnings effectively, supporting sustainable returns and the capacity to reinvest earnings for growth or shareholder distributions.

Nordic omnichannel footprint

A broad Nordic store network combined with a stated focus on expanding e-commerce creates a diversified sales base and omnichannel capabilities. This reduces single-channel risk, preserves customer reach across markets, and aligns the business with structural shifts toward integrated online/offline retail.

Negative Factors

Declining free cash flow growth

A TTM decline in free cash flow of ~2.5% suggests less incremental cash available for capex, debt reduction or dividends. If the trend continues, it could constrain strategic investments and limit flexibility to fund growth initiatives or absorb macro pressures over the coming months.

Subpar cash conversion

Operating cash flow at ~0.66x net income and FCF covering net income at ~0.92x indicate earnings are not fully translating into free cash. Weaker cash conversion raises earnings quality questions and can limit the company’s ability to self-fund growth or increase shareholder returns sustainably.

Physical retail & seasonality exposure

Material exposure to brick-and-mortar sales and seasonal promotions leaves revenue sensitive to footfall, consumer cyclicality and seasonal demand swings. While online growth helps, the structural reliance on store traffic maintains vulnerability to retail trends and requires continual investment to stabilize sales.

Clas Ohlson AB Business Overview & Revenue Model

Company Description

Clas Ohlson AB is a Swedish retail company that specializes in home improvement, hardware, and household goods. Founded in 1918, the company operates a chain of stores across Sweden, Norway, Finland, and Denmark, offering a wide range of products including tools, electrical items, home textiles, and kitchenware. Clas Ohlson positions itself as a one-stop-shop for DIY enthusiasts and homeowners, emphasizing quality, affordability, and innovative solutions for everyday needs.

How the Company Makes Money

Clas Ohlson generates revenue primarily through the sale of its diverse product range in physical and online retail stores. The company's revenue model is based on a mix of direct sales from its stores and e-commerce operations. Key revenue streams include sales from tools, home improvement products, and household items, with seasonal promotions and special offers driving customer traffic and purchases. Additionally, Clas Ohlson benefits from brand loyalty and repeat customers, as well as potential partnerships with suppliers and manufacturers that enhance product offerings and margins. The company's focus on expanding its online presence and enhancing customer experience is also a significant factor contributing to its earnings.

Clas Ohlson AB Financial Statement Overview

Summary

Strong profitability and improving margins (gross margin ~40.98%, net margin ~7.99% TTM) support a solid score. Balance sheet leverage is manageable (debt-to-equity ~0.72) with very high ROE (~40.39%), though cash flow is a relative weak spot with slightly declining free cash flow growth (-2.45% TTM).

Income Statement

Clas Ohlson AB shows strong revenue growth with a TTM increase of 1.76% and consistent improvement in profit margins. The gross profit margin is robust at 40.98%, and the net profit margin has improved to 7.99% TTM. EBIT and EBITDA margins are healthy, indicating efficient operations. Overall, the company demonstrates strong profitability and growth momentum.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of 0.72 TTM, showing improvement from previous years. The return on equity is impressive at 40.39%, indicating effective use of equity capital. The equity ratio is moderate, suggesting a balanced capital structure, though there is room for improvement in reducing leverage further.

Cash Flow

Operating cash flow remains strong, but free cash flow has seen a slight decline of 2.45% TTM. The operating cash flow to net income ratio is healthy at 0.66, and free cash flow covers net income adequately at 0.92. While cash flow generation is solid, the recent decline in free cash flow growth suggests potential areas for improvement in cash management.

Breakdown	TTM	Apr 2024	Apr 2023	Apr 2022	Apr 2021	Apr 2020
Income Statement
Total Revenue	12.03B	11.63B	10.23B	9.02B	8.78B	8.28B
Gross Profit	5.19B	4.54B	4.02B	3.38B	3.60B	3.36B
EBITDA	1.93B	1.94B	1.45B	1.08B	1.47B	1.32B
Net Income	1.02B	882.20M	508.60M	180.60M	522.50M	421.30M
Balance Sheet
Total Assets	7.07B	6.49B	5.85B	5.11B	5.95B	6.13B
Cash, Cash Equivalents and Short-Term Investments	990.90M	1.01B	170.70M	143.10M	456.60M	533.80M
Total Debt	1.83B	1.70B	1.84B	1.88B	1.79B	2.04B
Total Liabilities	4.58B	4.09B	4.00B	3.67B	3.73B	3.93B
Stockholders Equity	2.50B	2.40B	1.85B	1.44B	2.22B	2.19B
Cash Flow
Free Cash Flow	1.69B	1.68B	1.37B	817.40M	833.70M	1.06B
Operating Cash Flow	1.85B	1.83B	1.49B	940.80M	986.10M	1.29B
Investing Cash Flow	-159.60M	-156.60M	-553.80M	-123.40M	-157.70M	-227.90M
Financing Cash Flow	-908.40M	-828.80M	-909.20M	-1.13B	-909.20M	-605.80M

Clas Ohlson AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 291.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CLAS.B, the sentiment is Positive. The current price of 291.4 is below the 20-day moving average (MA) of 356.84, below the 50-day MA of 322.29, and below the 200-day MA of 329.25, indicating a bullish trend. The MACD of 12.84 indicates Positive momentum. The RSI at 61.42 is Neutral, neither overbought nor oversold. The STOCH value of 32.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:CLAS.B.

Clas Ohlson AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLAS.B	73 Outperform	kr21.88B	17.87	46.00%	1.88%	9.30%	38.37%
NELLY	71 Outperform	kr3.84B	13.97	51.02%	―	12.45%	118.98%
BOKUS	67 Neutral	kr1.11B	14.48	―	4.49%	9.46%	59.55%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
FOI.B	54 Neutral	kr6.12B	123.28	2.04%	6.24%	-2.98%	-30.48%
BHG	53 Neutral	kr4.29B	36.21	―	―	5.27%	15.33%
NEWA.B	52 Neutral	kr13.05B	19.42	12.33%	3.12%	2.80%	-8.84%

Clas Ohlson AB Corporate Events

Clas Ohlson Sets Date for Q3 2025/26 Interim Report and Webcast

Clas Ohlson will publish its interim report for the third quarter of its 2025/26 financial year on 11 March at 7:00 a.m. CET, covering the period from May 2025 to January 2026, with the report and presentation materials available on the company’s website. The results will be presented in an English-language webcast at 9:00 a.m. CET the same day by President and CEO Kristofer Tonström and CFO Pernilla Walfridsson, followed by a Q&A session for investors, analysts and media, with participation possible via webcast or teleconference and an on-demand version accessible afterward online.

The most recent analyst rating on ($SE:CLAS.B) stock is a Buy with a SEK418.00 price target. To see the full list of analyst forecasts on Clas Ohlson AB stock, see the SE:CLAS.B Stock Forecast page.

Clas Ohlson Breaks SEK 1bn Barrier in January on Strong Organic Growth

Clas Ohlson reported a strong start to the calendar year with January net sales rising 12% to SEK 1,005m, marking its first-ever January above the SEK 1bn threshold. Growth was driven primarily by 13% organic expansion, aided by an expanded store network and demand across all prioritised product niches, with an extra lift from weather-related products amid cold conditions in its core markets. The retailer’s home markets of Sweden, Norway and Finland delivered double-digit January growth, although the weaker Norwegian krone continued to weigh on reported figures when translated into Swedish kronor. For the period May 2025 to January 2026, net sales increased 7% to SEK 9,903m, underpinned by 9% organic growth, underscoring Clas Ohlson’s solid operational momentum despite currency headwinds and weaker performance in smaller ‘other markets’.

The most recent analyst rating on ($SE:CLAS.B) stock is a Sell with a SEK320.00 price target. To see the full list of analyst forecasts on Clas Ohlson AB stock, see the SE:CLAS.B Stock Forecast page.

Clas Ohlson Posts Record December Sales on Strong Nordic Demand

Clas Ohlson reported its highest-ever monthly sales in December, with net sales rising 5% year-on-year to 1,676 MSEK, driven by 7% organic growth and a net addition of six stores, despite negative currency effects from a weaker Norwegian krone. For the May–December 2025 period, total net sales increased 6% to 8,898 MSEK on 8% organic growth, underpinned by solid performance in comparable units in all home markets—particularly Norway—while sales in Finland grew modestly and other markets continued to contract, highlighting the company’s strong core Nordic positioning but ongoing challenges in smaller geographies.

The most recent analyst rating on ($SE:CLAS.B) stock is a Hold with a SEK368.00 price target. To see the full list of analyst forecasts on Clas Ohlson AB stock, see the SE:CLAS.B Stock Forecast page.

Clas Ohlson AB Announces 2026 Nomination Committee Composition

Clas Ohlson AB has announced the composition of its Nomination Committee ahead of the 2026 Annual General Meeting. The committee, representing approximately 71% of the company’s voting power, is tasked with proposing board members, auditors, and remuneration. This strategic move ensures stakeholder representation and aligns with the company’s governance practices.

The most recent analyst rating on ($SE:CLAS.B) stock is a Sell with a SEK320.00 price target. To see the full list of analyst forecasts on Clas Ohlson AB stock, see the SE:CLAS.B Stock Forecast page.

Clas Ohlson Reports Strong Q2 Growth and Strategic Investments

Clas Ohlson AB reported a strong second quarter with a 7% increase in net sales, driven by 9% organic growth. The company’s online sales grew by 8%, and operating profit rose to 410 MSEK. The company also announced strategic acquisitions to boost its e-commerce presence and a significant investment in its distribution center to enhance efficiency and capacity, aiming for long-term growth.

The most recent analyst rating on ($SE:CLAS.B) stock is a Sell with a SEK320.00 price target. To see the full list of analyst forecasts on Clas Ohlson AB stock, see the SE:CLAS.B Stock Forecast page.