Husqvarna AB (HUSQ.B) AI Stock Analysis

• Market Cap: kr21.52B
• Dividend Yield: 2.2%
• Average Volume (3M): 772.07K
• Price to Earnings (P/E): 15.0
• Beta (1Y): 1.18
• Revenue Growth: -1.74%
• EPS Growth: -0.59%
• Country: SE
• Employees: 12,596
• Sector: General
• Sector Strength: N/A
• Industry: Manufacturing - Tools & Accessories
• EPS (TTM): -1.34
• Shares Outstanding: 468,518,600
• 10 Day Avg. Volume: 651,071
• 30 Day Avg. Volume: 772,068
• PEG Ratio: 0.45
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 13.68
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 3.44
• Revenue Forecast (FY): kr44.83B

• Rating: 54 Neutral
• Price Target: kr38.00 ▼(-17.08% Downside)
• Action: Reiterated Date: 02/06/26
• Date: Action: Reiterated 02/06/26

The score is held back mainly by weakened financial performance versus prior years (lower margins and pressured revenue) and bearish technical signals (price below key moving averages with negative MACD). A moderate P/E and a modest dividend yield provide partial support but do not outweigh the operational and momentum headwinds.

Positive Factors

Diversified product portfolio & channels

Husqvarna's broad product mix across consumer and professional segments, including robotic and battery offerings, creates multiple end markets and distribution channels. This diversity supports resilience to single-segment downturns and enables cross-selling to dealers and retail partners over the medium term.

Improving leverage and solid equity base

Leverage reduction to a ~0.59 debt-to-equity ratio improves financial flexibility and lowers solvency risk. A substantial equity base (SEK ~23.5B) versus assets provides room for periodic investments, working-capital needs, and supports stability through seasonal revenue swings.

Recurring aftermarket & service revenue

An installed product base that generates spare parts, consumables and service revenue provides a steady, higher-margin income stream. Recurring aftermarket demand smooths seasonality, supports gross margins long-term, and enhances lifetime customer monetization beyond one-time product sales.

Negative Factors

Sustained revenue weakness

Multi-year revenue decline reduces operating leverage and suggests weaker end-market demand or market-share challenges. Persistent top-line contraction constrains reinvestment capacity, slows installed-base growth for aftermarket sales, and raises the bar for margin and cash-flow recovery.

Material margin compression since peak years

Significant margin deterioration versus earlier years signals structural pressure on pricing, mix, or cost control. Lower profitability reduces internal funding for R&D, capex and product development, and leaves less buffer against raw material, logistic, or demand shocks over the medium term.

Volatile and weakening cash conversion

Sharp FCF decline and prior negative years indicate inconsistent cash conversion. Volatility impairs the firm's ability to sustainably fund capex, aftermarket investment, and shareholder returns without relying on external financing, increasing execution risk for strategic initiatives.

Husqvarna AB Business Overview & Revenue Model

Company Description

Husqvarna AB (publ) produces and sells outdoor power products, watering products, and cutting and surface preparation equipment. It operates through three divisions: Husqvarna Forest & Garden, Gardena, and Husqvarna Construction. The Husqvarna Forest & Garden division offers handheld products, such as chainsaws, brush cutters, trimmers, and leaf blowers; wheeled products, such as front riders and zero-turn mowers; robotic lawn mowers; and accessories and spare parts. The Gardena division provides watering systems; robotic mowers, trimmers, hedge cutters, and shrub shears; garden tools, such as secateurs, loppers, axes, and digging tools; and smart garden systems. The Husqvarna Construction division offers power cutters, light compaction and concrete placement equipment, floor grinding machines, dust and slurry solutions, diamond tools for construction and stone industries, floor saws, and demolition robots. The company sells its products and solutions to forestry, tree care, landscaping, commercial lawn, and garden services sectors, as well as home and garden owners, and light construction and stone industries primarily under the Husqvarna, Gardena, Orbit, Diamant Boart, Jonsered, Flymo, RedMax, Zenoah, and McCulloch brands through dealers and retailers. It operates in Germany, France, Sweden, Austria, rest of Europe, the Asia/Pacific, Canada, the United States, Latin America, and internationally. Husqvarna AB (publ) was founded in 1689 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Husqvarna makes money primarily by selling outdoor power equipment and related solutions through multiple channels and customer segments. Its revenue model is centered on: (1) Product sales: generating the majority of revenue from the sale of outdoor power products (e.g., chainsaws, trimmers, lawn mowers, robotic mowers, and other garden/forestry equipment) to retailers, dealers, distributors, and professional customers. This includes both consumer-oriented products (often sold via retail and e-commerce) and professional equipment (often sold via specialized dealers). (2) Recurring and aftermarket revenue: earning ongoing revenue from spare parts, replacement components, consumables, and accessories (e.g., cutting equipment, blades, trimmer line, batteries/chargers where applicable) tied to the installed base of products. Aftermarket sales typically support margins over the product life cycle. (3) Services and solutions: generating revenue from service offerings and solutions that support product usage and uptime, which may include maintenance/repair services delivered via dealer/service networks and, where offered, connected/robotic product-related software or fleet/management solutions; if specific monetization details for software/services are not publicly available, null. (4) Watering and light construction-related products: earning additional revenue from categories such as watering equipment and related products, and certain light construction equipment offerings, sold through comparable channels. Key factors influencing earnings include the strength and breadth of its dealer and retail distribution network, brand positioning across premium/professional and consumer segments, the size of the installed base that drives parts/accessories demand, seasonal demand patterns in outdoor products, and product mix (including higher-value robotic and battery-powered products). Material details on specific significant partnerships are not available from the information provided here; null.

Husqvarna AB Financial Statement Overview

Summary

Financials are stable but not strong: revenue declined over 2023–2025 and profitability is well below 2020–2021 levels (net margin ~3.8% and EBIT margin ~6.2% in 2025). Balance sheet leverage improved (debt-to-equity ~0.59), but cash flow is uneven with free cash flow down sharply in 2025 versus 2024 and a history of volatility.

Income Statement

Revenue has been under pressure recently (down in 2023–2025), which limits operating leverage and signals a softer demand environment. Profitability also compressed meaningfully versus 2020–2021: net margin fell from ~9.4% (2021) to ~3.8% (2025) and EBIT margin declined from ~12.1% to ~6.2%. A positive offset is that 2025 earnings improved versus 2024 (net income up and margins modestly better), suggesting some stabilization, but overall profitability remains well below prior peak levels.

Balance Sheet

Leverage looks manageable for the sector, with debt-to-equity around ~0.59 in 2025 (improved from ~0.79 in 2022), indicating balance-sheet risk has moderated. Equity remains substantial (SEK ~23.5B) against total assets (SEK ~52.1B). Returns on equity are positive but mid-range (~7.5% in 2025) and below stronger years like 2020–2021, implying the company is not currently generating standout returns relative to its capital base.

Cash Flow

Cash generation is positive in the latest year, with operating cash flow of ~SEK 4.2B and free cash flow of ~SEK 1.9B in 2025. However, free cash flow fell sharply versus 2024 (about -40%), indicating weaker cash conversion and/or higher cash outlays. The history is also somewhat volatile, highlighted by negative operating cash flow and free cash flow in 2022, which raises the risk profile even though subsequent years recovered.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	46.61B	48.35B	53.26B	54.04B	47.06B
Gross Profit	14.15B	14.30B	17.62B	14.61B	15.51B
EBITDA	5.84B	5.68B	6.34B	5.61B	7.88B
Net Income	1.77B	1.32B	2.18B	1.94B	4.44B
Balance Sheet
Total Assets	52.09B	56.80B	57.61B	61.64B	50.92B
Cash, Cash Equivalents and Short-Term Investments	1.71B	1.97B	1.53B	2.33B	2.21B
Total Debt	13.93B	14.52B	17.25B	18.98B	10.06B
Total Liabilities	28.55B	32.18B	33.84B	37.62B	29.27B
Stockholders Equity	23.54B	24.62B	23.77B	24.00B	21.63B
Cash Flow
Free Cash Flow	1.94B	4.23B	4.44B	-4.05B	3.14B
Operating Cash Flow	4.20B	6.84B	7.07B	-1.71B	5.66B
Investing Cash Flow	-1.89B	-2.46B	-2.65B	-2.30B	-6.38B
Financing Cash Flow	-2.46B	-3.98B	-5.16B	3.98B	-3.36B

Husqvarna AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 45.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HUSQ.B, the sentiment is Negative. The current price of 45.83 is above the 20-day moving average (MA) of 41.89, above the 50-day MA of 44.14, and below the 200-day MA of 48.01, indicating a bearish trend. The MACD of -1.60 indicates Positive momentum. The RSI at 29.06 is Positive, neither overbought nor oversold. The STOCH value of 9.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HUSQ.B.

Husqvarna AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLAS.B	78 Outperform	kr24.55B	9.43	42.23%	1.88%	9.30%	38.37%
RUSTA	72 Outperform	kr13.83B	9.48	―	1.70%	7.53%	5.81%
SKF.B	60 Neutral	kr101.50B	49.26	8.90%	3.19%	-4.16%	-12.95%
THULE	60 Neutral	kr22.82B	23.21	14.62%	3.54%	8.93%	-12.56%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
HUSQ.B	54 Neutral	kr21.52B	15.04	5.76%	2.20%	-1.74%	-0.59%

Husqvarna AB Corporate Events

Husqvarna Calls 2026 AGM, Sets Key Governance Votes for April

Husqvarna AB has convened its 2026 Annual General Meeting for April 16 in Jönköping, Sweden, inviting all shareholders registered with Euroclear Sweden by April 8 to participate. Investors may attend in person, by proxy or via an advance postal voting procedure, reflecting the company’s ongoing use of hybrid participation formats to facilitate broad shareholder engagement.

The notice details registration, proxy and postal voting deadlines, along with the formal agenda that includes adoption of the annual and consolidated accounts, profit allocation, and discharge from liability for the board and CEO. Shareholders will also decide on the number and remuneration of directors and auditors, as well as elect board members and the chair, decisions that will shape Husqvarna’s governance and oversight for the coming year.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK40.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna AB Lowers Voting Power Through Conversion of Class A to Class B Shares

Husqvarna AB has announced a change in its share capital structure following the conversion of 85,000 Class A shares into Class B shares in January 2026 at the request of shareholders. This conversion, carried out under the company’s articles of association, reduces the total number of votes in the company, which now stands at 154,600,292.3, while the total number of registered shares remains 576,343,778.

After the transaction, Husqvarna AB’s share composition consists of 107,739,905 Class A shares and 468,603,873 Class B shares. The disclosure, made in line with the Swedish Financial Instruments Trading Act, provides transparency for investors and other stakeholders regarding shifts in voting power, which can influence corporate governance dynamics and the balance of control among shareholders.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK44.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna Delivers Modest 2025 Growth, Unveils 2030 Strategy and Cost-Saving Drive

Husqvarna reported a weak fourth quarter but managed to deliver modest organic sales growth of 1% for 2025 despite soft consumer sentiment, tariffs and currency headwinds. Quarterly organic sales fell 3% and the group posted an operating loss, largely due to lower residential demand in North America and adverse trade and FX effects, although professional products such as robotic mowers and construction power cutters showed good momentum. For the full year, net sales declined 4% and operating margin excluding items affecting comparability slipped to 6.2%, while cash flow weakened, but profitability improved versus 2024 on a reported basis and net debt fell, enabling the board to propose a higher dividend. At its recent Capital Markets Day, Husqvarna set a 2030 strategy focused on operational excellence, aftermarket and solutions, and portfolio management, targeting SEK 4bn in savings by 2030—most within two to three years—to reinvest in innovation and brands. The group is also deepening its robotics presence in golf through the Husqvarna British Masters title sponsorship and an exclusive European distribution deal for an autonomous golf-range ball-picker, and enters 2026 with a strong launch pipeline including AI-vision robotic technology, expanded watering products and new construction solutions, aiming to restore profitable growth amid ongoing macro and trade-policy uncertainty, particularly in North America.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK43.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna Refreshes Leadership to Drive Ongoing Transformation

Husqvarna is reshaping its leadership team, appointing Yvette Henshall-Bell to lead the Forest & Garden division while interim head Omar Attar returns to finance, as CFO Terry Burke and Construction division president Karin Falk prepare to depart later in 2026. These shifts signal continued execution of CEO Glen Instone’s transformation strategy, with successor searches underway to maintain momentum in profitability and global expansion.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK43.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna Reports Minor Share Conversion Impacting Voting Rights

Husqvarna AB has reported a minor change in its share capital structure following the conversion of 300 Class A shares into Class B shares at the request of shareholders in December 2025, a move that reduces the company’s total voting rights to 154,676,792.3. After the conversion, the company’s share capital consists of 576,343,778 registered shares, comprising 107,824,905 Class A shares and 468,518,873 Class B shares, reflecting continued shareholder use of the option to shift from higher-voting A shares to B shares and providing transparency for investors under Swedish financial market disclosure rules.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK43.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna Group Sets Date for 2025 Full-Year Results and Investor Presentation

Husqvarna Group has announced that it will publish its full-year and fourth-quarter 2025 results on 4 February 2026, followed by a combined webcast and conference call hosted by CEO Glen Instone and CFO Terry Burke later that morning. The English-language presentation, which will include a Q&A session and be accessible via webcast or telephone from key markets, underscores the company’s focus on transparent communication with investors and other stakeholders, with all related materials to be made available on its website.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK43.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.

Husqvarna Becomes Title Partner of British Masters, Deepens DP World Tour Ties

Husqvarna has signed a multi-year deal to become Title Partner of the British Masters on the DP World Tour from 2026, extending its presence in professional golf and positioning its robotic lawnmowing technology at one of the sport’s most prestigious events. The 2026 Husqvarna British Masters will be held at The Belfry’s Brabazon Course with six-time major winner and Husqvarna brand ambassador Sir Nick Faldo as host, while the company also becomes the official robotic mowing partner of the DP World Tour and an official marketing and tournament partner across several key European events. Building on a successful 2025 collaboration and the recent use of Husqvarna CEORA robotic mowers to maintain all 18 fairways at the AIG Women’s Open in Wales, the partnership is designed to showcase Husqvarna’s commercial robotic solutions, deepen relationships with greenkeepers and course managers, and reinforce the brand’s credentials in automated, precision turf management on top-tier tournament courses.

The most recent analyst rating on ($SE:HUSQ.B) stock is a Hold with a SEK43.00 price target. To see the full list of analyst forecasts on Husqvarna AB stock, see the SE:HUSQ.B Stock Forecast page.