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Dometic Group AB
(DOM)
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Rating:62Neutral
Price Target:
kr26.00
▼(-46.04% Downside)
Action:Reiterated
Date:05/23/26
The score is driven primarily by mixed financial performance: strong free cash flow and manageable leverage are positives, but declining revenue, subdued margins/ROE, and demonstrated earnings volatility (notably the 2024 loss) limit the rating. Technicals are neutral with early signs of improvement, while valuation (P/E ~12 and ~1.55% yield) is a supporting factor.
Positive Factors
Strong free cash flow
Sustained, growing free cash flow (~2.3B TTM) provides durable internal funding for capex, product development, and working-capital needs. This cash generation supports investment flexibility, dividends/buybacks potential, and resilience through cyclical demand over several months.
Negative Factors
Declining revenue
Ongoing revenue decline (~-3% TTM) indicates demand weakness or market-share pressure in core RV/marine segments. Persistent top-line contraction limits operational leverage, constrains margin recovery and reinvestment, and requires sustained strategic actions to restore growth over quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Sustained, growing free cash flow (~2.3B TTM) provides durable internal funding for capex, product development, and working-capital needs. This cash generation supports investment flexibility, dividends/buybacks potential, and resilience through cyclical demand over several months.
Read all positive factors
Dometic Group AB (DOM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.51B
Dividend Yield2.85%
Average Volume (3M)536.15K
Price to Earnings (P/E)18.7
Beta (1Y)1.40
Revenue Growth-14.52%
EPS GrowthN/A
CountrySE
Employees7,349
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)1.30
Shares Outstanding319,500,000
10 Day Avg. Volume409,193
30 Day Avg. Volume536,151
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)0.72
Price to Sales (P/S)0.71
P/FCF Ratio8.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr55.00Price Target Upside14.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.18
Revenue Forecast (FY)kr20.50B
Dometic Group AB Business Overview & Revenue Model
Company Description
Dometic Group AB (publ) and its subsidiaries specialize in delivering comprehensive solutions for on-the-go lifestyles across various sectors. The company operates internationally, with a significant presence in regions including the Americas, Ger...
How the Company Makes Money
Dometic primarily makes money by selling branded hardware and related solutions designed for mobile living and outdoor markets. Its core revenue streams typically include: (1) Original equipment manufacturer (OEM) sales, where Dometic supplies com...
Dometic Group AB Earnings Call Summary
Earnings Call Date:Jan 28, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 14, 2026
Earnings Call Sentiment Neutral
The call conveyed a mixed outlook: the company is showing concrete operational progress (improving gross margins, restructuring savings, inventory reduction, solid full-year cash generation and select segment margin improvements) and management expressed confidence in returning to growth in 2026. However, meaningful near-term headwinds persist — continued negative organic growth, significant FX and tariff/labor cost impacts (notably in Mobile Cooling), a weak Q4 with negative adjusted EPS, higher short-term cash out for restructuring and a modest increase in leverage. Management is optimistic but cautious, expecting low-to-mid single-digit growth next year and further working-capital improvements.Positive Updates
Improved Gross Margin and Cost Control
Gross margin improved to 28.7% from 26.8% year-over-year; restructuring and efficiency actions driving underlying margin improvement despite lower sales.
Negative Updates
Continued Negative Organic Growth
Q4 organic growth -3% and full-year organic growth -8%; several segments (Land Vehicles -4% in Q4, Marine -3%, Global Ventures -3%) and Americas exposure showing double-digit declines in some areas (LV Americas -10%, LV APAC -10%).
Read all updates
Q4-2025 Updates
Positive
Negative
Improved Gross Margin and Cost Control
Gross margin improved to 28.7% from 26.8% year-over-year; restructuring and efficiency actions driving underlying margin improvement despite lower sales.
Read all positive updates
Company Guidance
Management guided to deliver low‑to‑mid single‑digit growth in 2026, with free cash flow expected slightly below 2025’s >SEK1.4bn and a meaningful reduction in leverage from 3.3x (Q4) toward their ~2.5x target (CFO indicated a push toward ~2.0–2.5x); they expect to offset Mobile Cooling tariff/labor headwinds (SEK30m impact in Q4) via price increases effective Jan‑1 (last year’s SEK63m duty‑drawback was non‑recurring). FX is a key risk (a ±5% USD move ≈ SEK47m EBITA, EUR ±5% ≈ SEK37m); Q4 FX cost was ~2.1 percentage points on EBITA margin (full‑year FX ~0.4 pp) and management flagged a possible USD move of -5–7% and EUR -3% into Q1. Working capital is expected to improve toward a 20% net‑sales target (LTM 25% at Q4, quarter 23%; inventory SEK4.8bn vs SEK6.5bn LY; days of inventory 119 vs 138) with an accounts‑receivable program expected to free up ~SEK300–400m by end‑2026. The restructuring program targets SEK750m run‑rate savings by end‑2026 (SEK350m achieved to Dec; ~SEK270m cash‑out to date, ~SEK400m total cash‑out expected), and net financial expense should ease after planned bond repayment in May (current financial net >SEK200m, expected toward ~SEK180m).Dometic Group AB Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
60
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.45B | 21.04B | 24.62B | 27.77B | 29.76B | 21.52B |
| Gross Profit | 5.49B | 5.61B | 6.82B | 7.10B | 7.88B | 6.36B |
| EBITDA | 3.05B | 3.22B | 2.54B | 4.41B | 4.53B | 3.72B |
| Net Income | 417.00M | 428.00M | -2.30B | 1.33B | 1.78B | 1.73B |
Balance Sheet | ||||||
| Total Assets | 47.91B | 45.81B | 52.82B | 54.12B | 57.45B | 52.03B |
| Cash, Cash Equivalents and Short-Term Investments | 4.83B | 4.86B | 4.21B | 4.35B | 4.40B | 4.41B |
| Total Debt | 16.72B | 16.49B | 17.62B | 18.44B | 19.73B | 17.21B |
| Total Liabilities | 25.73B | 24.88B | 27.36B | 28.13B | 31.04B | 29.58B |
| Stockholders Equity | 22.18B | 20.93B | 25.46B | 25.99B | 26.41B | 22.45B |
Cash Flow | ||||||
| Free Cash Flow | 2.30B | 1.75B | 3.49B | 4.23B | 1.28B | 740.00M |
| Operating Cash Flow | 2.63B | 2.11B | 3.87B | 4.85B | 1.87B | 1.15B |
| Investing Cash Flow | -294.00M | -331.00M | -519.00M | -1.17B | -1.43B | -8.76B |
| Financing Cash Flow | -1.53B | -369.00M | -3.54B | -3.69B | -570.00M | 4.03B |
Dometic Group AB Technical Analysis
Negative
48.18
Price Trends
29.59
Negative
30.45
Negative
38.12
Negative
Market Momentum
-1.74
Positive
32.79
Neutral
23.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:DOM, the sentiment is Negative. The current price of 48.18 is above the 20-day moving average (MA) of 25.92, above the 50-day MA of 29.59, and above the 200-day MA of 38.12, indicating a bearish trend. The MACD of -1.74 indicates Positive momentum. The RSI at 32.79 is Neutral, neither overbought nor oversold. The STOCH value of 23.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:DOM.
Dometic Group AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | kr21.89B | 19.45 | 14.62% | 3.54% | 5.68% | 3.16% | |
64 Neutral | kr18.93B | 29.24 | 21.87% | 5.28% | 1.56% | -19.70% | |
62 Neutral | kr7.51B | 18.72 | ― | 2.85% | -14.52% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | kr12.47B | 16.08 | 12.33% | 3.12% | 4.58% | -15.05% | |
55 Neutral | kr5.57B | 53.22 | 2.04% | 6.24% | -0.94% | 14.56% | |
44 Neutral | kr20.45B | 18.19 | 6.30% | ― | -6.83% | ― |
* Consumer Cyclical Sector Average
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Dometic Group AB Corporate Events
Dometic lifts margins on aftermarket growth as Q1 sales stay flat organically
Apr 23, 2026
Dometic reported first-quarter 2026 net sales of SEK 5.24 billion, down 10% year-on-year mainly due to currency effects, with flat organic growth and improved profitability. Gross margin rose to 29.6% and EBITA margin to 10.6%, driven by cost savi...
Dometic AGM Backs No-Dividend Policy and Expands Board Funding Flexibility
Apr 14, 2026
Dometic Group AB’s annual shareholders’ meeting in Stockholm approved the 2025 financial statements, discharged the board and CEO from liability, and decided to retain earnings rather than distribute a dividend, signaling a focus on st...
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.