Inwido AB (INWI) AI Stock Analysis

• Market Cap: kr9.35B
• Dividend Yield: 3.37%
• Average Volume (3M): 81.18K
• Price to Earnings (P/E): 18.5
• Beta (1Y): 0.73
• Revenue Growth: 3.41%
• EPS Growth: -1.70%
• Country: SE
• Employees: 4,700
• Sector: Industrials
• Sector Strength: 72
• Industry: Construction
• EPS (TTM): 2.87
• Shares Outstanding: 57,972,527
• 10 Day Avg. Volume: 83,014
• 30 Day Avg. Volume: 81,183
• PEG Ratio: -4.09
• Price to Book (P/B): 1.73
• Price to Sales (P/S): 1.06
• P/FCF Ratio: 14.47
• 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: kr220.00
• Price Target Upside: 36.48% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 11.5
• Revenue Forecast (FY): kr9.75B

• Rating: 66 Neutral
• Price Target: kr181.00 ▲(12.28% Upside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is driven primarily by solid but weakening financial performance (margin/ROE pressure, higher leverage, and negative free-cash-flow growth). Technicals are moderately supportive with short- to medium-term strength and positive MACD, while valuation is reasonable with a supportive dividend yield.

Positive Factors

Renovation & new-build end-market focus

A clear focus on renovation/replacement and new-build residential segments supports durable demand. Renovation work, in particular, is less cyclical than large commercial building cycles and generates recurring, customized orders that sustain revenue and aftermarket opportunities over years.

Local brands and manufacturing footprint

Multiple local brands and regional production units create structural advantages: closer customer proximity, tailored product mixes, lower logistics cost and faster lead times. This decentralized model supports channel relationships with retailers and installers and helps defend pricing and share locally.

Consistent profitability and positive free cash flow

The company has maintained positive free cash flow and sector-level profitability across reporting years, providing durable cash generation to fund operations, capex and distributions. Consistent FCF underpins financial flexibility even as growth moderates.

Negative Factors

Margin compression and lower ROE

Margins and ROE have declined materially from prior peaks, indicating weaker profit conversion on capital. Persistently lower margins reduce reinvestment capacity and long-term returns to shareholders, and suggest increased competition or pressure in pricing and input costs.

Rising leverage in 2025

Leverage increased meaningfully in 2025, reducing balance-sheet flexibility. Higher debt amplifies interest-cost exposure and constrains capital allocation choices during downturns, making the company more sensitive to cash-flow volatility and limiting strategic optionality.

Weakened cash-flow growth and modest cash conversion

Although FCF remains positive, recent sharp negative FCF growth and modest operating cash flow margin (~10% of revenue) point to weaker cash momentum. This raises vulnerability to working-capital swings, limits reinvestment capacity and increases reliance on external financing for growth.

Inwido AB Business Overview & Revenue Model

Company Description

Inwido AB (publ), through its subsidiaries, develops, manufactures, and sells windows and doors. The company operates through four segments: e-Commerce, Scandinavia, Eastern Europe, and Western Europe. It offers wood, aluminum, and glass products, as well as fittings and coatings; and related accessories and services. The company provides its products through various channels, including direct sales, installers, retailers, middlemen, manufacturers of prefabricated homes, and small and large building companies, as well as through e-commerce channels. It operates in Denmark, Estonia, Finland, Ireland, Lithuania, Norway, Poland, Romania, the United Kingdom, Sweden, and Germany. Inwido AB (publ) was founded in 1811 and is based in Malmö, Sweden.

How the Company Makes Money

Inwido AB generates revenue primarily through the sale of its window and door products, which are distributed to construction companies, contractors, and retail customers across Europe. The company benefits from a diverse range of revenue streams, including direct sales, partnerships with builders, and collaborations with home improvement retailers. Additionally, Inwido focuses on innovation and sustainability, allowing it to command premium pricing for energy-efficient products. Strategic partnerships with architects and designers also contribute to increased sales by promoting their products in new construction and renovation projects. The company's emphasis on quality and customer service helps maintain customer loyalty, further stabilizing its revenue base.

Inwido AB Financial Statement Overview

Summary

Profitability remains solid and free cash flow is positive across years, but fundamentals have softened versus 2021–2022: margins and ROE have trended down, leverage increased in 2025, and free cash flow growth was sharply negative in 2025.

Income Statement

Revenue has been volatile (down in 2023–2024, then rebounded strongly in 2025), indicating uneven end-market demand. Profitability remains solid for the sector, but margins have compressed versus the 2021–2023 peak (net margin fell from ~7.6% in 2023 to ~5.7% in 2025; operating margin also stepped down). Overall, the company is still meaningfully profitable, but recent earnings power is off prior highs.

Balance Sheet

Leverage is moderate, with debt rising in 2025 and the debt-to-equity ratio moving up to ~0.57 (from ~0.40–0.42 in 2022–2024). Equity remains sizable relative to assets, supporting balance-sheet stability, but returns on equity have trended lower from 2021–2022 levels to ~9–10% in 2024–2025, suggesting reduced efficiency/profit conversion on the capital base.

Cash Flow

Cash generation is positive with healthy free cash flow in every year shown, and free cash flow has generally covered a large portion of earnings (about ~61%–82% historically; ~72% in 2025). However, free cash flow growth has been negative in recent years and sharply down in 2025, and operating cash flow as a share of revenue is modest (~10% in 2024–2025), pointing to weaker cash momentum and potential working-capital/headwind sensitivity.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.00B	8.84B	8.97B	9.55B	7.72B
Gross Profit	2.26B	2.25B	2.30B	2.34B	2.02B
EBITDA	1.24B	1.24B	1.38B	1.37B	1.17B
Net Income	514.20M	538.50M	679.10M	796.40M	712.60M
Balance Sheet
Total Assets	10.59B	10.16B	9.68B	9.79B	8.44B
Cash, Cash Equivalents and Short-Term Investments	642.90M	935.40M	905.40M	1.32B	1.07B
Total Debt	3.16B	2.28B	2.19B	2.11B	1.78B
Total Liabilities	5.08B	4.51B	4.33B	4.47B	3.79B
Stockholders Equity	5.50B	5.65B	5.25B	5.29B	4.64B
Cash Flow
Free Cash Flow	657.70M	572.30M	844.80M	879.80M	820.50M
Operating Cash Flow	908.30M	938.10M	1.15B	1.07B	1.01B
Investing Cash Flow	-1.15B	-397.60M	-773.60M	-426.80M	-255.40M
Financing Cash Flow	17.90M	-540.20M	-776.50M	-461.20M	-839.00M

Inwido AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 161.20
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:INWI, the sentiment is Negative. The current price of 161.2 is below the 20-day moving average (MA) of 164.64, below the 50-day MA of 162.55, and below the 200-day MA of 174.29, indicating a bearish trend. The MACD of 0.33 indicates Positive momentum. The RSI at 46.01 is Neutral, neither overbought nor oversold. The STOCH value of 32.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:INWI.

Inwido AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INWI	66 Neutral	kr9.35B	18.51	9.78%	3.37%	3.41%	-1.70%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
PEAB.B	61 Neutral	kr30.26B	17.86	10.55%	3.26%	-4.93%	10.91%
ALIG	61 Neutral	kr13.07B	25.44	9.59%	2.09%	-1.74%	26.36%
VOLO	55 Neutral	kr6.66B	28.13	14.16%	1.91%	9.65%	19.40%
NMAN	54 Neutral	kr4.95B	21.74	―	2.41%	2.05%	-11.66%
BERG.B	45 Neutral	kr7.24B	37.27	-3.67%	1.25%	4.65%	-136.09%

Inwido AB Corporate Events

Inwido Posts Modest 2025 Growth, Keeps Dividend as Acquisitions Lift Debt

Inwido reported modest top-line growth for 2025, with net sales rising 2 percent to SEK 9,002 million and organic growth of 4 percent, while profitability softened slightly as operating EBITA edged down to SEK 941 million and the margin slipped to 10.5 percent from 10.8 percent. In the fourth quarter, sales were broadly flat year-on-year and order intake declined when adjusted for currency, though underlying demand excluding last year’s large UK project appeared somewhat stronger, and the company continued its acquisition-driven expansion with three new deals in the UK and Slovenia. Net debt increased to 1.7 times operating EBITDA following acquisitions, but leverage remains moderate, and the Board has proposed maintaining the dividend at SEK 5.50 per share, signaling confidence in the company’s cash generation despite a more subdued order environment.

The most recent analyst rating on (SE:INWI) stock is a Hold with a SEK171.00 price target. To see the full list of analyst forecasts on Inwido AB stock, see the SE:INWI Stock Forecast page.

Inwido to Release Year-End and Q4 2025 Results on February 3

Inwido AB has announced that it will publish its year-end and fourth-quarter 2025 financial report on Tuesday, February 3 at 07:45 CET. The results will be presented the same day in an English-language webcast at 10:00 CET by President and CEO Fredrik Meuller and CFO and deputy CEO Peter Welin, with investors, analysts and media able to follow the presentation online or via telephone conference and submit questions, underscoring the company’s ongoing investor communication efforts and transparency toward the capital market.

The most recent analyst rating on (SE:INWI) stock is a Hold with a SEK173.00 price target. To see the full list of analyst forecasts on Inwido AB stock, see the SE:INWI Stock Forecast page.

Inwido Expands into Slovenia with AJM Group Acquisition

Inwido AB has expanded its European presence by acquiring AJM Group, a leading Slovenian window and door company. This acquisition marks Inwido’s entry into the Slovenian market and strengthens its position in Central and Eastern Europe. AJM Group, with annual sales of approximately EUR 30 million, has a strong brand reputation in the mid-to-high-end segments and operates a well-invested production facility near Maribor, Slovenia. The acquisition is expected to provide synergy opportunities and a platform for further growth in the region.

The most recent analyst rating on (SE:INWI) stock is a Hold with a SEK154.00 price target. To see the full list of analyst forecasts on Inwido AB stock, see the SE:INWI Stock Forecast page.

Inwido Expands UK Presence with Acquisition of Victorian House Window Group

Inwido AB has acquired Victorian House Window Group, a leading manufacturer of uPVC sliding sash windows in the UK, for GBP 60 million. This acquisition aligns with Inwido’s strategy, offering growth prospects and synergies, and marks the first facility within Inwido to integrate all operations under one roof, including a unique on-site PVC recycling process. The acquisition positions Inwido to capitalize on the growing UK sash window market and expand into new segments.

The most recent analyst rating on (SE:INWI) stock is a Hold with a SEK154.00 price target. To see the full list of analyst forecasts on Inwido AB stock, see the SE:INWI Stock Forecast page.