Investor AB (INVE.A) AI Stock Analysis

• Market Cap: kr1.05T
• Dividend Yield: 1.61%
• Average Volume (3M): 334.33K
• Price to Earnings (P/E): 6.6
• Beta (1Y): 1.00
• Revenue Growth: 79.31%
• EPS Growth: -65.65%
• Country: SE
• Employees: 19,060
• Sector: General
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): 18.07
• Shares Outstanding: 1,246,763,400
• 10 Day Avg. Volume: 304,825
• 30 Day Avg. Volume: 334,331
• PEG Ratio: 0.16
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 4.56
• P/FCF Ratio: 53.29
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 80 Outperform
• Price Target: kr388.00 ▲(18.00% Upside)

Score is driven primarily by strong financial fundamentals (low leverage and consistently positive cash flow) alongside an attractive valuation (low P/E). Technicals are supportive with an established uptrend and positive MACD, though business results show meaningful volatility (notably the 2022 loss and 2025 revenue drop), tempering the overall score.

Positive Factors

Conservative leverage

Low leverage provides durable financial flexibility for an investment company, reducing refinancing and solvency risk during market downturns. It enables Investor AB to support portfolio companies, make opportunistic acquisitions, and sustain distributions through cyclical stress without forcing asset sales.

Consistent cash generation

Reliable free cash flow underpins long-term capital allocation: funding dividends, active portfolio investments, and shareholdings without relying on external financing. This cash resilience helps the firm weather negative earnings years and maintain strategic investment pacing.

Diversified strategic stakes

A diversified portfolio across industrials, tech, healthcare and financials reduces idiosyncratic risk and gives Investor AB multiple return drivers. Strategic stakes and active ownership support operational improvements and long-term value creation across cycles, enhancing resilience.

Negative Factors

Earnings and revenue volatility

Investor AB's investment-driven P&L shows material swings tied to portfolio valuations and dividends. Large year-to-year revenue and earnings moves impair predictability for cash returns and complicate long-term payout and capital allocation planning for shareholders and management.

Portfolio sensitivity to market cycles

Returns and equity growth depend heavily on underlying portfolio performance, making ROE and net asset trends cyclically sensitive. During market drawdowns, capital preservation pressures can force defensive actions, limiting proactive investments and strategic initiatives.

Cash metrics lose clarity in loss years

In years with negative net income, conventional coverage ratios become less informative, complicating assessment of sustainable payouts. This reduces transparency for investors and management when setting dividend policy or committing capital during stressed portfolio performance.

Investor AB Business Overview & Revenue Model

Company Description

Investor AB (publ) is a venture capital firm specializing in mature, middle market, buyouts and growth capital investments. It is operating through four business areas including core, private equity, operating, and financial investments. For core investments, the firm invests in health care, financial services, IT and fintech sectors and considers investments in listed companies in leading minority positions. The firm seeks to invest globally and acquire a board seat. For its operating investments, the firm seeks to focus on medium-sized to large companies headquartered in Northern Europe. It acquires controlling interest or minority position with significant influence in its portfolio companies within operating investments. The firm considers majority or minority investments in both listed and unlisted companies. Within private equity, the firm makes venture capital and buyout investments. For venture capital, it seeks investments through its subsidiary, Investor Growth Capital, which is focused on investments in the information technology, technology, engineering, financial services, and healthcare sectors in Europe, the United States, and Asia. It seeks to invest in companies ranging from startups to companies that are about to enter an expansion stage and its investment commitment range between SEK 20 million ($2.94 million) and SEK 200 million ($29.43 million). In its venture capital investments, it acquires minority stakes in its portfolio companies and the ownership horizon varies from three to seven years. For buyouts, the firm makes fund investments through its subsidiary, EQT that makes buyout investments in medium-sized mature companies in Northern Europe and Greater China. The firm seeks to exit its private equity investments between three years and seven years. The firm seeks to take board membership in its portfolio companies. For financial investments, it acquires minority ownership in financial holdings for shorter horizon. Investor AB (publ) was founded in 1916 and is based in Stockholm, Sweden with additional offices in Amsterdam, Netherlands; Beijing, China; Menlo Park, California; Hong Kong, China; New York, New York; and Tokyo, Japan.

How the Company Makes Money

Investor AB generates revenue primarily through capital appreciation and dividends from its investments in its portfolio companies. The company holds significant stakes in well-established firms, allowing it to benefit from their growth and profitability. Key revenue streams include dividends received from its holdings, realized gains from the sale of investments, and management fees from its investment operations. Additionally, Investor AB often engages in strategic partnerships and collaborations with other firms to enhance its investment capabilities and access new opportunities, further contributing to its earnings. The company's focus on long-term investments and its ability to adapt to market changes play a crucial role in sustaining its revenue generation.

Investor AB Financial Statement Overview

Summary

Strong overall financial profile with low leverage (debt-to-equity ~0.12–0.19), material growth in equity/assets since 2020, and consistently positive operating/free cash flow (FCF strong in 2023 and solid in 2024–2025). Main risk is volatility typical of investment-driven models, including a 2022 loss and a sharp ~40% revenue decline in 2025.

Income Statement

Profitability is strong in most years, with very high operating and net profitability in 2023–2025 and a solid recovery after a loss year in 2022. However, results are volatile: revenue swings sharply (including a negative revenue year in 2022) and 2025 revenue fell ~40% year over year, which is a meaningful stability risk even though earnings remained elevated.

Balance Sheet

The balance sheet is conservatively levered, with debt consistently low relative to equity (debt-to-equity ~0.12–0.19) while equity and total assets have grown materially since 2020. Returns on equity are generally healthy (positive in all years except 2022), but the 2022 drawdown highlights that portfolio-driven earnings can pressure equity returns in weaker markets.

Cash Flow

Cash generation is consistently positive across the period, with free cash flow rising strongly in 2023 and remaining solid in 2024–2025. Cash conversion versus earnings is generally good (free cash flow below but relatively close to net income in most profitable years), though 2022 shows the limits of earnings volatility—cash flow stayed positive while earnings were negative, and operating cash flow coverage of net income becomes less meaningful in that loss year.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	221.86B	172.83B	183.96B	-24.82B	266.90B
Gross Profit	217.18B	168.91B	180.49B	-27.30B	264.79B
EBITDA	158.45B	114.39B	127.69B	-73.68B	228.32B
Net Income	157.49B	113.34B	127.05B	-74.76B	228.06B
Balance Sheet
Total Assets	1.10T	952.09B	838.45B	724.37B	795.54B
Cash, Cash Equivalents and Short-Term Investments	22.19B	33.95B	31.85B	27.18B	18.91B
Total Debt	117.15B	99.42B	89.53B	91.40B	87.27B
Total Liabilities	148.91B	132.34B	121.02B	118.71B	112.04B
Stockholders Equity	953.71B	819.36B	716.77B	604.87B	682.61B
Cash Flow
Free Cash Flow	18.99B	19.16B	17.25B	12.24B	10.46B
Operating Cash Flow	22.16B	23.58B	20.97B	16.61B	14.26B
Investing Cash Flow	-31.66B	-11.06B	399.00M	-7.46B	-2.77B
Financing Cash Flow	7.25B	-14.57B	-15.43B	-15.10B	-13.17B

Investor AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 328.80
• 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:INVE.A, the sentiment is Positive. The current price of 328.8 is below the 20-day moving average (MA) of 337.97, above the 50-day MA of 326.20, and above the 200-day MA of 298.76, indicating a bullish trend. The MACD of 3.88 indicates Positive momentum. The RSI at 59.66 is Neutral, neither overbought nor oversold. The STOCH value of 66.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:INVE.A.

Investor AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDU.A	81 Outperform	kr192.37B	13.92	8.24%	2.00%	13.97%	-56.08%
INVE.A	80 Outperform	kr1.05T	6.62	8.06%	1.61%	79.31%	-65.65%
EQT	70 Outperform	kr397.89B	50.13	―	1.21%	14.62%	108.05%
LUND.B	65 Neutral	kr131.44B	17.24	6.47%	0.92%	7.90%	-18.95%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BURE	53 Neutral	kr16.30B	-3.03	-23.18%	1.13%	22.38%	-153.85%
KINV.B	46 Neutral	kr20.22B	163.06	0.33%	―	-97.64%	―

Investor AB Corporate Events

Investor AB Lifts NAV and Outperforms Market in 2025 as Board Proposes Higher Dividend

Investor AB reported a strong fourth quarter of 2025, with adjusted net asset value rising 6 percent to SEK 1,087.1 billion and total shareholder return of 13 percent, substantially outperforming the SIXRX index. For the full year, adjusted NAV grew 14 percent and total shareholder return reached 15 percent, supported by a 22 percent return from Listed Companies and a 15 percent value increase in EQT holdings, while Patricia Industries delivered modest quarterly gains but a negative full-year return, weighed down by currency effects and restructuring costs. Within Patricia Industries, major subsidiaries saw 5 percent organic sales growth in constant currency despite a 5 percent decline in reported sales, and healthcare subsidiary Mölnlycke posted 3 percent organic sales growth with margin improvement driven by cost efficiencies and product mix, partly offset by currency and tariff headwinds. Investor maintained a conservative balance sheet with leverage of 2.1 percent, SEK 27.1 billion in gross cash and a long debt maturity profile, and the board proposed raising the dividend to SEK 5.60 per share for 2025, payable in two installments, underscoring confidence in cash flow and capital strength amid expectations that currency headwinds, tariffs and geopolitical uncertainty will persist into 2026.

The most recent analyst rating on ($SE:INVE.A) stock is a Buy with a SEK362.00 price target. To see the full list of analyst forecasts on Investor AB stock, see the SE:INVE.A Stock Forecast page.

Investor AB Schedules Webcast for 2025 Year-End Results Presentation

Investor AB has announced that President and CEO Christian Cederholm and CFO Jenny Ashman Haquinius will present the company’s year-end report for 2025 via a webcast on January 22, 2026, at 10:00 CET. The report, which will be published earlier that morning, will give shareholders and other stakeholders insight into the performance of Investor AB’s diversified portfolio and its progress on long-term value creation, with the webcast format enabling broad access and direct engagement through a Q&A session for participants joining by phone.

The most recent analyst rating on ($SE:INVE.A) stock is a Buy with a SEK360.00 price target. To see the full list of analyst forecasts on Investor AB stock, see the SE:INVE.A Stock Forecast page.

Investor AB Appoints Ulrika Elfving as New General Counsel

Investor AB has announced the appointment of Ulrika Elfving as the new General Counsel and member of the Executive Leadership Team, effective in the second quarter of 2026. Elfving, who brings extensive legal experience from her previous role at Electrolux Group, is expected to contribute valuable perspectives to Investor’s operations, enhancing its active ownership strategy.

The most recent analyst rating on ($SE:INVE.A) stock is a Buy with a SEK360.00 price target. To see the full list of analyst forecasts on Investor AB stock, see the SE:INVE.A Stock Forecast page.

Laborie to Acquire JADA System, Expanding Obstetrics Portfolio

Patricia Industries’ subsidiary, Laborie, is set to acquire the JADA System from Organon, a medical device used to treat postpartum hemorrhage. This acquisition, valued at up to USD 465 million, will enhance Laborie’s obstetrics portfolio and is expected to be completed in the first quarter of 2026, subject to regulatory approval.

The most recent analyst rating on ($SE:INVE.A) stock is a Hold with a SEK318.00 price target. To see the full list of analyst forecasts on Investor AB stock, see the SE:INVE.A Stock Forecast page.