Karnov Group AB (KAR) AI Stock Analysis

• Market Cap: kr12.43B
• Dividend Yield: N/A
• Average Volume (3M): 176.27K
• Price to Earnings (P/E): 221.9
• Beta (1Y): 0.37
• Revenue Growth: 5.65%
• EPS Growth: 591.21%
• Country: SE
• Employees: 1,200
• Sector: Industrials
• Sector Strength: 86
• Industry: Specialty Business Services
• EPS (TTM): 0.71
• Shares Outstanding: 107,876,144
• 10 Day Avg. Volume: 234,191
• 30 Day Avg. Volume: 176,266
• PEG Ratio: 0.15
• Price to Book (P/B): 3.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 50.95
• 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: kr115.04
• Price Target Upside: -0.13% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 65 Neutral
• Price Target: kr122.00 ▲(5.90%Upside)

The stock's overall score is driven by solid financial performance, characterized by strong revenue growth and operational efficiency. However, the high valuation and overbought technical indicators suggest caution, as they may indicate potential risks of a price correction if market conditions change. The absence of earnings call insights or corporate events keeps the focus on these core components.

Karnov Group AB Business Overview & Revenue Model

Company Description

Karnov Group AB (KAR) is a leading provider of mission-critical information in the areas of legal, tax, and accounting. Headquartered in Sweden, Karnov Group serves professionals and organizations across the Nordic region, offering a comprehensive suite of digital solutions and services that support decision-making and compliance. The company's core offerings include advanced research tools, databases, and analytics platforms that empower legal and financial professionals with the information they need to excel in their fields.

How the Company Makes Money

Karnov Group AB generates revenue primarily through subscription-based services. The company offers a range of digital products that require ongoing subscriptions, providing steady and recurring income. These products include access to proprietary databases, research tools, and analytics platforms designed for legal, tax, and accounting professionals. Additionally, Karnov Group may engage in partnerships with other organizations to enhance its offerings and reach, although specific partnerships are not detailed here. The company's focus on maintaining a robust digital presence and continuously updating its content ensures high customer retention and a sustainable revenue model.

Karnov Group AB Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.59B	2.47B	1.11B	878.07M	771.42M
Gross Profit	2.24B	276.60M	639.18M	518.41M	452.75M
EBITDA	547.70M	559.50M	330.10M	331.86M	335.93M
Net Income	-33.10M	38.20M	59.90M	84.91M	99.90M
Balance Sheet
Total Assets	7.49B	6.93B	7.45B	4.52B	3.69B
Cash, Cash Equivalents and Short-Term Investments	402.80M	450.60M	671.20M	951.47M	552.92M
Total Debt	2.87B	2.44B	2.75B	1.31B	1.30B
Total Liabilities	5.12B	4.60B	5.13B	2.37B	2.14B
Stockholders Equity	2.37B	2.34B	2.32B	2.15B	1.54B
Cash Flow
Free Cash Flow	147.80M	174.00M	182.88M	250.81M	296.35M
Operating Cash Flow	315.50M	337.00M	275.95M	314.16M	378.99M
Investing Cash Flow	-601.90M	-220.90M	-1.74B	-385.45M	-112.35M
Financing Cash Flow	235.80M	-337.70M	1.15B	467.64M	235.45M

Karnov Group AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 115.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:KAR, the sentiment is Positive. The current price of 115.2 is above the 20-day moving average (MA) of 103.98, above the 50-day MA of 95.56, and above the 200-day MA of 87.07, indicating a bullish trend. The MACD of 4.42 indicates Negative momentum. The RSI at 79.11 is Negative, neither overbought nor oversold. The STOCH value of 90.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:KAR.

Karnov Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
REJL.B	76 Outperform	€4.35B	19.53	11.34%	24.52%	8.19%	10.02%
Sector *	68 Neutral	£2.95B	10.28	8.40%	3.21%	2.87%	-9.95%
GREEN	67 Neutral	€3.76B	24.13	9.79%	―	3.84%	-23.62%
KAR	65 Neutral	kr12.43B	221.92	2.37%	―	5.65%	591.21%
COOR	64 Neutral	kr4.22B	37.01	7.35%	2.25%	-1.76%	-29.69%
ELAN.B	64 Neutral	kr2.14B	25.17	2.11%	66.42%	4.15%	-63.36%
CNCJO.B	46 Neutral	kr474.93M	―	-4.06%	7.14%	-0.11%	-220.16%

Karnov Group AB Corporate Events

Karnov Group Divests Spanish Legal Training Business to Focus on Core Offerings

Karnov Group AB has announced the divestment of its legal training business in Spain, operated by its subsidiary Aranzadi LA LEY, to JUC Service ApS. This strategic move allows Karnov to streamline its product portfolio in Spain, focusing on its core online legal information solutions, and is expected to positively impact the company’s adjusted EBITA margin. The transaction, which involves approximately 40 employees and had net sales of SEK 60 million in 2024, is set to close on 31 July 2025. Despite the divestment, Karnov will maintain a strong presence in Spain with around 525 employees across several offices.

The most recent analyst rating on (SE:KAR) stock is a Buy with a SEK100.00 price target. To see the full list of analyst forecasts on Karnov Group AB stock, see the SE:KAR Stock Forecast page.

Karnov Group AB Annual General Meeting Resolutions and Strategic Initiatives

Karnov Group AB held its annual general meeting on May 15, 2025, where key resolutions were passed, including the adoption of financial statements for 2024 and the decision to carry forward the year’s results without issuing dividends. The meeting also approved board and auditor fees, re-elected board members and auditors, and established a long-term incentive program for senior executives. Additionally, the board was authorized to issue new shares, potentially increasing the company’s share capital by up to 10%. These decisions reflect Karnov’s strategic focus on growth and operational stability, impacting its market positioning and stakeholder interests.

The most recent analyst rating on (SE:KAR) stock is a Buy with a SEK115.00 price target. To see the full list of analyst forecasts on Karnov Group AB stock, see the SE:KAR Stock Forecast page.