Instalco AB (SE:INSTAL)
:INSTAL
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Instalco AB
(INSTAL)
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Rating:68Neutral
Price Target:
kr42.00
▲(62.41% Upside)
Action:Reiterated
Date:05/01/26
The score is driven primarily by strong top-line momentum and supportive technical trend signals (price above all major moving averages with positive MACD). These positives are tempered by thin and previously compressing margins plus recent free-cash-flow deceleration and some historical balance-sheet leverage variability. Valuation is reasonable (P/E ~13.2) with a modest dividend yield.
Positive Factors
Very strong revenue growth
Sustained TTM revenue acceleration (+75.5%) indicates durable demand for Instalco's installation and service offerings and strengthens scale economics. Over 2–6 months this supports pricing leverage, higher utilization of local subsidiaries, and greater negotiating power with suppliers, aiding margin recovery potential.
Negative Factors
Low and compressed margins
Relatively thin and historically compressed margins limit the company's buffer against rising input or labor costs and underpriced projects. For a project-driven group, low net and EBIT margins increase sensitivity to execution issues and reduce the long-term ability to fund growth from operating profitability alone.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong revenue growth
Sustained TTM revenue acceleration (+75.5%) indicates durable demand for Instalco's installation and service offerings and strengthens scale economics. Over 2–6 months this supports pricing leverage, higher utilization of local subsidiaries, and greater negotiating power with suppliers, aiding margin recovery potential.
Read all positive factors
Instalco AB (INSTAL) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr10.29B
Dividend Yield2.67%
Average Volume (3M)619.25K
Price to Earnings (P/E)28.6
Beta (1Y)1.08
Revenue Growth0.30%
EPS Growth28.26%
CountrySE
Employees6,199
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.41
Shares Outstanding268,754,760
10 Day Avg. Volume663,472
30 Day Avg. Volume619,254
Financial Highlights & Ratios
PEG Ratio-8.82
Price to Book (P/B)2.15
Price to Sales (P/S)0.51
P/FCF Ratio6.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.28
Revenue Forecast (FY)kr14.31B
Instalco AB Business Overview & Revenue Model
Company Description
Instalco AB (publ) provides installation services in the heating and plumbing, electrical, ventilation, cooling, and industrial areas in Sweden and rest of Nordic. The company is involved in the designing, project planning, and assembly services f...
How the Company Makes Money
Instalco makes money primarily by selling technical installation and ongoing service work for building systems through its operating subsidiaries. Revenue is generated from (1) project-based contracts, where subsidiaries design, install, and commi...
Instalco AB Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
62
Positive
Cash Flow
59
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.74B | 13.60B | 13.69B | 14.28B | 12.06B | 8.89B |
| Gross Profit | 5.62B | 558.00M | 7.23B | 7.06B | 5.88B | 4.34B |
| EBITDA | 1.29B | 1.09B | 1.24B | 1.46B | 1.13B | 912.00M |
| Net Income | 400.00M | 343.00M | 345.00M | 601.00M | 520.00M | 546.00M |
Balance Sheet | ||||||
| Total Assets | 10.23B | 10.27B | 10.31B | 10.72B | 9.57B | 7.59B |
| Cash, Cash Equivalents and Short-Term Investments | 102.00M | 348.00M | 208.00M | 267.00M | 631.00M | 696.00M |
| Total Debt | 4.10B | 658.00M | 3.66B | 3.72B | 3.13B | 2.34B |
| Total Liabilities | 6.65B | 6.87B | 6.93B | 7.33B | 6.42B | 5.09B |
| Stockholders Equity | 3.39B | 3.23B | 3.21B | 3.21B | 2.94B | 2.48B |
Cash Flow | ||||||
| Free Cash Flow | 786.00M | 1.01B | 821.00M | 890.00M | 689.00M | 584.00M |
| Operating Cash Flow | 1.02B | 1.01B | 946.00M | 999.00M | 753.00M | 610.00M |
| Investing Cash Flow | -232.00M | -348.00M | -297.00M | -1.29B | -1.08B | -971.00M |
| Financing Cash Flow | -784.00M | -487.00M | -706.00M | -85.00M | 240.00M | 657.00M |
Instalco AB Technical Analysis
Positive
25.86
Price Trends
34.35
Positive
31.23
Positive
28.01
Positive
Market Momentum
1.09
Positive
52.93
Neutral
12.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:INSTAL, the sentiment is Positive. The current price of 25.86 is below the 20-day moving average (MA) of 37.55, below the 50-day MA of 34.35, and below the 200-day MA of 28.01, indicating a neutral trend. The MACD of 1.09 indicates Positive momentum. The RSI at 52.93 is Neutral, neither overbought nor oversold. The STOCH value of 12.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:INSTAL.
Instalco AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr2.24B | 12.12 | ― | 1.24% | 12.12% | 103.57% | |
68 Neutral | kr10.29B | 28.65 | 11.66% | 2.67% | 0.30% | 28.26% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | kr13.06B | 15.02 | 6.31% | 4.09% | -6.24% | -29.72% | |
56 Neutral | kr4.34B | -3.21 | -3.72% | ― | -21.25% | -1647.05% | |
46 Neutral | kr1.86B | -2.51 | ― | ― | 10.55% | -3187.01% | |
45 Neutral | kr618.17M | 41.09 | 2.34% | ― | 1.56% | 70.48% |
* Industrials Sector Average
SE:INSTAL
Instalco AB
38.28
12.36
47.66%
SE:AFRY
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-45.49
-28.17%
SE:VESTUM
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11.56
0.76
7.04%
SE:NORB.B
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10.80
-0.20
-1.82%
SE:FG
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21.25
0.72
3.49%
SE:BYGGP
ByggPartner Gruppen AB
49.40
26.60
116.66%
Instalco AB Corporate Events
Instalco AGM Backs Dividend, Incentive Plan and Expanded Capital Mandates
May 5, 2026
Instalco AB’s annual general meeting approved all proposals from the board and nomination committee, including adoption of the 2025 financial statements and a dividend of SEK 0.50 per share to be paid in May. Shareholders also granted discha...
Instalco unit wins major VAROPreem scaffolding contract in Sweden
May 5, 2026
Instalco’s Swedish subsidiary Enter Ställningar AB, which offers drawings, calculations, assembly and leasing of construction and industrial scaffolding, has secured a major framework agreement with VAROPreem Sverige AB, a newly formed ...
Instalco Uses Remaining Treasury Shares to Finance Defensio Invest Acquisition
May 4, 2026
Instalco has resolved to transfer 310,545 treasury shares as part of the consideration for acquiring 70 percent of Defensio Invest AB, which operates under the TSM Taksäkerhetsmontörerna brand. The shares are valued at about SEK 37.60 ea...
Instalco lifts margins and order backlog as governance overhaul and cash flow strengthen growth platform
Apr 29, 2026
Instalco reported first-quarter 2026 net sales of SEK 3.44 billion, up 4.4% year on year, with organic growth of 4.9% and a sharp EBITA increase to SEK 201 million, lifting the margin to 5.8%. Earnings per share rose to SEK 0.27, cash flow from op...
Instalco Wins NOK 40 Million Green Logistics Contract at Port of Drammen
Apr 22, 2026
Instalco’s Norwegian subsidiary Vito Teknisk Entreprenør has secured a contract worth around NOK 40 million to deliver heating, plumbing, compressed air and sprinkler installations for the Holmen 27 logistics development at the Port of ...
Instalco Builds National Scaffolding Platform With Acquisition of TSM Taksäkerhetsmontörerna
Apr 16, 2026
Instalco AB has expanded its presence in the scaffolding market by acquiring 70 per cent of Defensio Invest AB, the group behind TSM Taksäkerhetsmontörerna, a leading Swedish provider of construction scaffolding, weather protection and f...
Instalco Sets Date for Q1 2026 Report and Investor Webcast
Apr 14, 2026
Instalco AB, a leading Northern European installation and technical services group focused on building systems in Sweden, Norway, Finland and Germany, operates through a network of over 150 subsidiaries and is listed on Nasdaq Stockholm. Its core ...
Instalco Calls 2026 AGM With Focus on Governance Continuity
Mar 27, 2026
Instalco AB has called its annual general meeting for 5 May 2026 in Stockholm, allowing shareholders to participate either in person or via advance postal voting in line with its articles of association. Shareholders must be registered with Eurocl...
Instalco Wins SEK 36 Million Contract to Modernise Östersund Housing Block
Mar 26, 2026
Instalco, a major Nordic installation specialist, has secured a contract alongside NCC to modernise the Häradsskrivaren residential block in Östersund, Sweden, on behalf of municipal housing company Östersundshem. The SEK 36 million...
Instalco Restates Nordic Segment Figures, Showing Stable Backlog but Margin Pressure
Mar 24, 2026
Instalco has published restated quarterly and full-year figures for 2024 and 2025 by geographic segment, detailing order backlog, net sales, EBITA, and margins in Sweden, Norway, and Finland. The data show a stable total order backlog rising from ...
Instalco Names Founder Per Sjöstrand Permanent CEO to Drive Execution Push
Mar 19, 2026
Instalco has appointed company founder Per Sjöstrand as permanent president and CEO, formalising the role he has held on an acting basis since August 2025. Sjöstrand, who previously led the company from 2014 to 2021 and has served as bot...
Instalco Releases 2025 Annual and Sustainability Report
Mar 18, 2026
Instalco AB has published its Annual and Sustainability Report for the 2025 financial year, covering the parent company and group, with the sustainability report and corporate governance report both reviewed by auditors. The report, available in S...
Instalco Wins SEK 100 Million Prison Installation Contract in Skövde
Mar 17, 2026
Instalco has secured an approximately SEK 100 million contract for heating, plumbing, sprinkler, ventilation and cooling installations at a new prison facility in Skövde. The project, delivered by subsidiaries Tofta Plåt Ventilation, Sp...
Instalco Wins SEK 45 Million Nursing Home Installation Contract in Örnsköldsvik
Feb 18, 2026
Instalco subsidiaries Alf Näslunds Eltjänst and Inlands Luft have won a contract worth about SEK 45 million to deliver comprehensive technical installations for the new Kusthöjden nursing home in Örnsköldsvik. The deal str...
Instalco Ends 2025 on Stronger Footing as Margin Push Gains Traction
Feb 12, 2026
Instalco reported a stronger finish to 2025, with fourth-quarter net sales up 4.4% to SEK 3.77 billion and EBITA rising 39.2%, lifting the margin to 7.2% as operational improvements started to bear fruit and organic growth turned positive. For the...
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.