NIBE Industrier AB (SE:NIBE.B)
:NIBE.B
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NIBE Industrier AB
(NIBE.B)
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Rating:52Neutral
Price Target:
kr40.00
â–¼(-3.85% Downside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by weaker financial performance versus prior years—especially compressed profitability and zero free cash flow in 2025/TTM. Technicals are mixed with only tentative stabilization signals, while valuation is acceptable but not compelling given the recent earnings and cash-flow profile.
Positive Factors
Energy-efficient heating focus
NIBE's core business centers on heat pumps, heating elements and stoves across dedicated divisions. This product-led focus aligns with long-term electrification and efficiency trends, supporting steady structural demand from residential and commercial retrofit and new-build markets over months.
Negative Factors
Free cash flow weakness
Zero free cash flow in 2025/TTM, despite improved operating cash, indicates higher capex or working-capital strain. That persistent cash conversion weakness constrains reinvestment, dividends or M&A funding and raises execution risk across the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Energy-efficient heating focus
NIBE's core business centers on heat pumps, heating elements and stoves across dedicated divisions. This product-led focus aligns with long-term electrification and efficiency trends, supporting steady structural demand from residential and commercial retrofit and new-build markets over months.
Read all positive factors
NIBE Industrier AB (NIBE.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr80.18B
Dividend Yield0.86%
Average Volume (3M)6.31M
Price to Earnings (P/E)38.5
Beta (1Y)1.35
Revenue Growth0.29%
EPS Growth-1.32%
CountrySE
Employees19,597
SectorGeneral
Sector StrengthN/A
IndustryConstruction
Share Statistics
EPS (TTM)1.18
Shares Outstanding1,782,936,200
10 Day Avg. Volume5,483,716
30 Day Avg. Volume6,309,914
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)2.37
Price to Sales (P/S)1.76
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr43.67Price Target Upside4.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.59
Revenue Forecast (FY)kr42.82B
NIBE Industrier AB Business Overview & Revenue Model
Company Description
NIBE Industrier AB (publ), together with its subsidiaries, develops, manufactures, markets, and sells various energy-efficient solutions for indoor climate comfort, and components and solutions for intelligent heating and control in Nordic countri...
How the Company Makes Money
NIBE makes money by selling products and solutions across its three business areas, generating revenue primarily from product sales to installers, distributors, retailers, builders, and OEM/industrial customers.
1) NIBE Climate Solutions (major r...
NIBE Industrier AB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
62
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.82B | 40.84B | 40.52B | 46.65B | 40.07B | 30.83B |
| Gross Profit | 12.97B | 12.87B | 10.97B | 15.62B | 12.61B | 10.20B |
| EBITDA | 5.17B | 5.80B | 5.04B | 9.01B | 7.45B | 5.83B |
| Net Income | 2.39B | 2.28B | 1.17B | 4.79B | 4.35B | 3.32B |
Balance Sheet | ||||||
| Total Assets | 66.88B | 65.06B | 70.41B | 68.10B | 53.99B | 43.39B |
| Cash, Cash Equivalents and Short-Term Investments | 5.51B | 5.46B | 5.61B | 4.28B | 4.82B | 4.75B |
| Total Debt | 22.76B | 21.83B | 24.34B | 22.47B | 11.14B | 9.78B |
| Total Liabilities | 35.27B | 34.77B | 38.27B | 37.90B | 26.02B | 21.74B |
| Stockholders Equity | 31.61B | 30.25B | 32.09B | 30.16B | 27.93B | 21.44B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 0.00 | 1.83B | 110.00M | 373.00M | 1.94B |
| Operating Cash Flow | 5.18B | 4.89B | 4.01B | 3.83B | 2.61B | 3.26B |
| Investing Cash Flow | -2.54B | -2.94B | -2.85B | -12.60B | -2.78B | -2.01B |
| Financing Cash Flow | -1.64B | -1.49B | -64.00M | 8.35B | -151.00M | -1.50B |
NIBE Industrier AB Technical Analysis
Neutral
41.60
Price Trends
39.34
Positive
37.96
Positive
37.91
Positive
Market Momentum
0.54
Positive
43.36
Neutral
16.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NIBE.B, the sentiment is Neutral. The current price of 41.6 is below the 20-day moving average (MA) of 42.69, above the 50-day MA of 39.34, and above the 200-day MA of 37.91, indicating a neutral trend. The MACD of 0.54 indicates Positive momentum. The RSI at 43.36 is Neutral, neither overbought nor oversold. The STOCH value of 16.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NIBE.B.
NIBE Industrier AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | kr11.12B | 27.19 | 7.36% | 2.61% | -5.58% | 110.36% | |
63 Neutral | kr46.60B | 20.25 | 18.52% | 2.20% | 2.68% | 0.49% | |
58 Neutral | kr15.93B | 34.37 | 11.96% | 1.55% | -1.13% | -8.83% | |
58 Neutral | kr66.86B | 34.22 | 11.04% | 0.95% | -0.44% | 0.78% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | kr37.00B | 61.02 | 2.49% | 0.93% | -6.73% | -33.99% | |
52 Neutral | kr80.18B | 38.51 | 9.65% | 0.86% | 0.29% | -1.32% |
* General Sector Average
SE:NIBE.B
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NIBE Industrier AB Corporate Events
NIBE AGM Approves Dividend, Governance Mandates and Acquisition-Linked Share Issue
May 19, 2026
NIBE Industrier AB held its Annual General Meeting in Markaryd, where shareholders approved a dividend of SEK 0.35 per share and confirmed the company’s financial statements for 2025, granting discharge from liability to the board and CEO. T...
NIBE lifts profitability for fifth straight quarter on resilient heat-pump demand
May 19, 2026
NIBE Industrier reported first-quarter 2026 net sales of SEK 9.65 billion, essentially flat year-on-year, but delivered its fifth consecutive quarter of improved profitability, lifting operating profit to SEK 868 million and the margin to 9.0 perc...
NIBE leverages stable earnings to resume acquisitions amid uneven tariff impact
May 19, 2026
NIBE reported its fifth consecutive quarter of organic growth and improving margins, supported by strong demand for climate solutions, a broad international footprint and tight cost control, despite currency headwinds and geopolitical uncertainty....
NIBE Calls 2026 AGM, Sets Agenda and M&A-Linked Share Issue Mandate
Apr 14, 2026
NIBE Industrier AB has called its shareholders to the Annual General Meeting on 19 May 2026 at Contura’s expanded production facility in Markaryd, Sweden, with pre-meeting visits offered to several of the group’s exhibitions. Sharehold...
NIBE Reaffirms Mission as Global Leader in Sustainable Energy Solutions
Apr 14, 2026
NIBE Industrier AB reiterates its brand promise and mission to deliver sustainable, world-class energy solutions, emphasizing innovation, energy efficiency and high product quality across its three business areas. The company highlights its long-s...
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.