Kinnevik AB Class A (KINV.A) AI Stock Analysis

• Market Cap: kr20.22B
• Dividend Yield: N/A
• Average Volume (3M): 14.94K
• Price to Earnings (P/E): 172.7
• Beta (1Y): 1.06
• Revenue Growth: -97.64%
• EPS Growth: N/A
• Country: SE
• Employees: 47
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 2.67
• Shares Outstanding: 33,752,914
• 10 Day Avg. Volume: 22,201
• 30 Day Avg. Volume: 14,936
• PEG Ratio: 0.18
• Price to Book (P/B): 0.53
• Price to Sales (P/S): -8.16
• P/FCF Ratio: -94.55
• 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: 47 Neutral
• Price Target: kr83.00 ▲(0.12% Upside)

The score is held back primarily by weak recent financial performance (net losses and negative revenue in 2022–2024, and negative 2024 cash flow) and bearish technical momentum (price below key moving averages with negative MACD). A conservative balance sheet provides some support, but the very high P/E further pressures the overall score.

Positive Factors

Conservative Leverage

A conservative leverage profile provides financial stability and flexibility, allowing the company to navigate economic fluctuations without significant financial strain.

Long-term Active Ownership

Kinnevik's strategy of long-term active ownership in growth sectors positions it well to capitalize on structural industry trends and technological advancements, potentially leading to significant investment returns.

Cash Generation Ability

The ability to generate positive cash flow in prior years indicates underlying business strength, providing a buffer and potential for reinvestment despite recent challenges.

Negative Factors

Deteriorating Profitability

Sustained net losses over several years indicate weak earnings quality and may hinder the company's ability to reinvest in growth opportunities, affecting long-term viability.

Negative Revenue Growth

Negative revenue growth reflects challenges in maintaining market position and competitiveness, potentially limiting future investment returns and strategic flexibility.

Cash Flow Volatility

Volatile cash flow, particularly the recent negative turn, raises concerns about the sustainability of operations and the ability to fund future investments without external financing.

Kinnevik AB Class A Business Overview & Revenue Model

Company Description

Kinnevik AB formerly known as Investment AB Kinnevik, is a venture capital firm specializing in investments in growth capital. It prefers to invest in digital consumer business, education, communication, e-commerce and marketplaces, entertainment, healthcare, and financial services but may also invest in other areas. The firm invests worldwide, especially in Europe with a focus on the Nordics, Latin America, Asia, Australia, Africa, and North America. The firm looks for disruptive, technology-enabled and value-added consumer services in developed and emerging markets. It takes an active role on the boards of its subsidiaries and associated companies. It acts as a long-term lead shareholder in large listed entities. Kinnevik AB was founded in 1936 and is based in Stockholm, Sweden.

How the Company Makes Money

Kinnevik AB primarily generates revenue through capital gains and dividends from its investments in various companies. The firm focuses on acquiring significant stakes in businesses that show high growth potential, particularly in sectors such as e-commerce, digital health, and financial technology. Kinnevik's earnings are driven by the appreciation in value of its portfolio companies and the dividends they distribute. Additionally, Kinnevik may engage in strategic partnerships and divestitures to optimize its portfolio and maximize returns. The company continuously assesses its investments to ensure alignment with its long-term growth objectives and sustainability goals.

Kinnevik AB Class A Financial Statement Overview

Summary

Overall fundamentals are mixed: the balance sheet is relatively resilient with conservative leverage (Balance Sheet Score 68), but profitability has deteriorated sharply with multiple years of net losses and negative revenue in 2022–2024 (Income Statement Score 22). Cash generation is also less reliable after turning negative in 2024 (Cash Flow Score 44).

Income Statement

Results have deteriorated sharply: revenue swung from strong positives in 2019–2021 to negative levels in 2022–2024, including a steep decline in 2024 versus 2023. Profitability is consistently negative in the last three annual periods (net losses each year), implying weak earnings quality and limited near-term visibility. The main strength is that results were very strong earlier in the period (2019–2021), but the more recent trajectory is clearly unfavorable.

Balance Sheet

Leverage is conservative, with debt staying relatively stable while equity remains large, keeping debt-to-equity low across periods. Total assets and equity have come down meaningfully from 2020–2021 peaks, and returns on equity have turned negative in 2022–2024, signaling value erosion despite a still-solid capital base. Overall, the balance sheet looks resilient, but ongoing losses are pressuring equity over time.

Cash Flow

Cash generation is volatile: operating and free cash flow were positive and sizable in 2022 and positive in 2023, but turned negative in 2024. The relationship between cash flow and earnings is inconsistent given net losses in recent years alongside periods of positive cash flow, which raises uncertainty around sustainability. Strength is the ability to generate cash in prior years; weakness is the 2024 cash outflow and sharp free-cash-flow decline.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-2.36B	-2.55B	-4.67B	-19.45B	14.84B	41.53B
Gross Profit	-2.52B	-2.60B	-4.72B	-19.50B	14.80B	41.53B
EBITDA	-2.53B	-2.62B	-4.77B	-19.52B	14.78B	41.13B
Net Income	-2.53B	-2.62B	-4.77B	-19.52B	14.78B	40.27B
Balance Sheet
Total Assets	40.07B	44.11B	53.51B	57.73B	78.59B	115.75B
Cash, Cash Equivalents and Short-Term Investments	11.56B	14.62B	2.37B	13.85B	10.54B	3.71B
Total Debt	2.06B	3.49B	3.49B	3.49B	4.69B	2.89B
Total Liabilities	3.27B	4.91B	5.35B	4.82B	6.20B	4.08B
Stockholders Equity	36.80B	39.20B	48.16B	52.91B	72.39B	111.67B
Cash Flow
Free Cash Flow	-284.00M	-220.00M	600.00M	3.18B	1.31B	1.33B
Operating Cash Flow	-284.00M	-220.00M	600.00M	3.18B	1.31B	1.33B
Investing Cash Flow	-3.36B	8.87B	-2.84B	1.38B	-215.00M	6.21B
Financing Cash Flow	-7.87B	-6.37B	0.00	-1.21B	1.86B	-3.84B

Kinnevik AB Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 82.90
• 50DMA: Negative
• 100DMA: Negative
• 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:KINV.A, the sentiment is Negative. The current price of 82.9 is above the 20-day moving average (MA) of 81.32, below the 50-day MA of 83.27, and below the 200-day MA of 89.42, indicating a bearish trend. The MACD of -1.65 indicates Positive momentum. The RSI at 34.78 is Neutral, neither overbought nor oversold. The STOCH value of 25.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:KINV.A.

Kinnevik AB Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ORES	74 Outperform	kr5.45B	6.22	―	6.23%	-0.22%	-58.80%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SVOL.B	67 Neutral	kr5.77B	12.77	7.83%	0.79%	-25.75%	-27.25%
CRED.A	63 Neutral	kr9.41B	7.76	12.47%	2.18%	4.72%	-38.28%
BURE	53 Neutral	kr16.30B	-3.03	-23.18%	1.13%	22.38%	-153.85%
KINV.A	47 Neutral	kr20.22B	172.66	―	―	-97.64%	―
KINV.B	46 Neutral	kr20.22B	163.06	0.33%	―	-97.64%	―