Mekonomen AB (SE:MEKO)
:MEKO
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Mekonomen AB
(MEKO)
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Rating:63Neutral
Price Target:
kr81.00
▲(14.08% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by mixed financial performance: strong and improving cash flow is a major positive, but sharply weakened profitability and higher leverage are significant risks. Technicals add support with a clear uptrend and positive momentum, while valuation is helped by a ~5.1% dividend yield and a mid-teens P/E.
Positive Factors
Strong cash generation
Substantial and improving operating and free cash flow provides durable internal funding for debt service, capex and reinvestment. Strong FCF relative to thin earnings reduces reliance on external financing and supports operational continuity and strategic initiatives over months.
Negative Factors
Sharply weakened profitability
Earnings have collapsed, leaving returns near zero and limiting internal reinvestment capacity. Persistently compressed net and operating margins weaken the buffer against cyclical shocks and reduce the company's ability to fund growth or absorb cost inflation without structural changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Substantial and improving operating and free cash flow provides durable internal funding for debt service, capex and reinvestment. Strong FCF relative to thin earnings reduces reliance on external financing and supports operational continuity and strategic initiatives over months.
Read all positive factors
Mekonomen AB (MEKO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr4.46B
Dividend Yield5.42%
Average Volume (3M)293.46K
Price to Earnings (P/E)17.3
Beta (1Y)0.50
Revenue Growth-2.16%
EPS Growth-89.93%
CountrySE
Employees5,616
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)0.77
Shares Outstanding56,416,622
10 Day Avg. Volume156,502
30 Day Avg. Volume293,463
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)0.69
Price to Sales (P/S)0.22
P/FCF Ratio5.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr100.00Price Target Upside40.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)9.04
Revenue Forecast (FY)kr18.55B
Mekonomen AB Business Overview & Revenue Model
Company Description
Meko AB (publ) operates in the automotive aftermarket business in Sweden, Norway, Denmark, Poland, Estonia, Latvia, Lithuania, and Finland. It provides spare parts, consumables, and tools, as well as workshop services and car accessories under the...
How the Company Makes Money
MEKO primarily makes money through the automotive aftermarket value chain by selling products and services tied to vehicle maintenance and repair. Its main revenue stream is the distribution and sale of automotive spare parts, consumables, and acc...
Mekonomen AB Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.15B | 18.37B | 18.55B | 17.28B | 14.39B | 12.55B |
| Gross Profit | 7.68B | 7.88B | 8.29B | 1.16B | 6.65B | 5.84B |
| EBITDA | 1.50B | 1.50B | 1.98B | 1.73B | 1.52B | 1.61B |
| Net Income | 42.00M | 36.00M | 433.00M | 419.00M | 454.00M | 572.00M |
Balance Sheet | ||||||
| Total Assets | 18.34B | 17.52B | 16.91B | 16.04B | 15.77B | 13.23B |
| Cash, Cash Equivalents and Short-Term Investments | 1.39B | 566.00M | 607.00M | 623.00M | 741.00M | 892.00M |
| Total Debt | 7.12B | 6.56B | 5.33B | 5.61B | 5.84B | 4.80B |
| Total Liabilities | 12.18B | 11.51B | 10.29B | 9.87B | 9.85B | 8.00B |
| Stockholders Equity | 6.01B | 5.86B | 6.45B | 6.04B | 5.80B | 5.17B |
Cash Flow | ||||||
| Free Cash Flow | 1.39B | 800.00M | 1.16B | 1.02B | 840.00M | 1.05B |
| Operating Cash Flow | 1.58B | 1.01B | 1.38B | 1.25B | 1.05B | 1.23B |
| Investing Cash Flow | -163.00M | -280.00M | -112.00M | 213.00M | -1.53B | -201.00M |
| Financing Cash Flow | -332.00M | -737.00M | -1.29B | -1.59B | 286.00M | -569.00M |
Mekonomen AB Technical Analysis
Positive
71.00
Price Trends
70.43
Positive
70.03
Positive
73.08
Positive
Market Momentum
2.21
Negative
72.49
Negative
91.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MEKO, the sentiment is Positive. The current price of 71 is below the 20-day moving average (MA) of 73.14, above the 50-day MA of 70.43, and below the 200-day MA of 73.08, indicating a bullish trend. The MACD of 2.21 indicates Negative momentum. The RSI at 72.49 is Negative, neither overbought nor oversold. The STOCH value of 91.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MEKO.
Mekonomen AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr1.66B | 11.78 | 23.44% | 4.95% | 5.09% | 6.45% | |
63 Neutral | kr4.46B | 17.32 | 0.68% | 5.42% | -2.16% | -89.93% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | kr1.05B | 7.54 | -0.32% | 5.49% | -14.67% | -85.33% | |
56 Neutral | kr12.64B | 14.74 | 15.46% | 4.43% | 0.94% | 22.60% | |
55 Neutral | kr1.08B | 79.71 | 51.02% | ― | 12.44% | 54.64% | |
51 Neutral | kr2.86B | -7.38 | 7.24% | 1.40% | 0.60% | 92.08% |
* Consumer Cyclical Sector Average
SE:MEKO
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Mekonomen AB Corporate Events
MEKO Withholds Dividend as AGM Backs New Incentive Plan and Share Issue Mandate
May 7, 2026
MEKO AB’s 2026 Annual General Meeting approved the 2025 financial statements, granted discharge from liability to the board and CEO, and decided to retain earnings without paying a dividend. The decision to withhold dividends suggests a focu...
Mekonomen Boosts Earnings Quality and Cash Flow Despite Sales Dip
May 7, 2026
Mekonomen AB reported a 3 percent decline in first-quarter net sales to SEK 4,441 million, as modest 1 percent organic growth was more than offset by negative currency effects. Earnings quality remained mixed, with EBIT improving to SEK 173 millio...
MEKO names new head of Danish operations to drive growth
May 7, 2026
MEKO AB, the Nordic automotive aftermarket leader, runs a network of brands and workshops that supply parts, maintenance and repair services for vehicles across eight European markets. With hundreds of branches and thousands of affiliated workshop...
MEKO Sets Date for Q1 2025 Interim Report and Investor Webcast
Apr 23, 2026
MEKO AB will publish its interim report for the first quarter of 2025 on May 7 at 07:30 CET, followed by an English-language webcast and telephone conference at 08:30 CET where President and CEO Pehr Oscarson and CFO Christer Johansson will presen...
MEKO AB Releases 2025 Annual and Sustainability Report with EU Taxonomy Disclosures
Apr 15, 2026
MEKO AB has released its Annual and Sustainability Report for 2025, making it available on the company’s website in both PDF and European Single Electronic Format. The report consolidates financial disclosures with sustainability reporting, ...
MEKO Reshapes Norwegian Leadership as Logistics Hub Comes Online
Apr 8, 2026
MEKO is consolidating leadership of its Norwegian operations by appointing Geir Hoff, currently head of Mekonomen and MECA in Norway, to oversee the entire business in the country. He will now also be responsible for Sørensen og Balchen, inte...
MEKO calls 2026 AGM with in-person and postal voting options
Apr 1, 2026
MEKO AB has convened its shareholders to the 2026 Annual General Meeting, scheduled for 7 May in Stockholm, with the option to participate either in person at the World Trade Center or via postal voting. The company outlines detailed procedures fo...
MEKO Tightens Board and Adds Transformation Expertise Ahead of 2026 AGM
Mar 31, 2026
MEKO’s Nomination Committee has proposed a streamlined eight-member board ahead of the company’s Annual General Meeting in Stockholm on May 7, 2026, combining continuity with targeted renewal. The committee recommends re-electing six c...
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.