Nolato AB Class B (SE:NOLA.B)
:NOLA.B
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Nolato AB
(NOLA.B)
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Rating:58Neutral
Price Target:
kr54.00
▼(-11.76% Downside)
Action:ReiteratedDate:02/08/26
The score is held back mainly by the sharp deterioration in 2025 cash conversion and clear bearish technical trend signals. Offsetting factors include improved profitability and manageable leverage, plus a constructive earnings-call outlook (margin progress and actions to address near-term headwinds), with valuation and dividend providing moderate support.
Positive Factors
Medical segment scale & margin
Medical Solutions being 58% of group with currency-adjusted growth and mid-teens margins creates a durable, higher-margin revenue base. Global expansions (Hungary, Poland, Malaysia) deepen customer proximity and capacity, supporting long-term demand capture and pricing power in healthcare markets.
Negative Factors
Weak cash conversion
A sharp decline in operating cash flow and zero free cash flow materially weakens financial flexibility. With operating cash covering only ~0.14x of net income, working-capital strain and episodic cash volatility raise risk for capex funding, dividends and M&A execution if the trend persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Medical segment scale & margin
Medical Solutions being 58% of group with currency-adjusted growth and mid-teens margins creates a durable, higher-margin revenue base. Global expansions (Hungary, Poland, Malaysia) deepen customer proximity and capacity, supporting long-term demand capture and pricing power in healthcare markets.
Read all positive factors
Nolato AB (NOLA.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr13.17B
Dividend Yield2.48%
Average Volume (3M)189.00K
Price to Earnings (P/E)27.6
Beta (1Y)0.85
Revenue Growth-2.09%
EPS Growth18.08%
CountrySE
Employees5,405
SectorHealthcare
Sector Strength45
IndustryConglomerates
Share Statistics
EPS (TTM)2.89
Shares Outstanding241,786,940
10 Day Avg. Volume114,289
30 Day Avg. Volume189,000
Financial Highlights & Ratios
PEG Ratio1.19
Price to Book (P/B)3.01
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.04
Revenue Forecast (FY)kr9.74B
Nolato AB Business Overview & Revenue Model
Company Description
Nolato AB (publ) develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products for medical technology, pharmaceutical, consumer electronics, telecom, automotive, and other industrial sectors in North America, Sweden, As...
How the Company Makes Money
Nolato AB generates revenue through multiple key streams, primarily by manufacturing and supplying high-quality products to the medical and industrial sectors. The medical segment contributes significantly to the company's earnings, as Nolato prod...
Nolato AB Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive strategic and financial picture for the full year—sales growth, a double-digit increase in operating profit for the year, improved margins, higher EPS, a larger dividend, strong cash generation, improved ROCE and notable sustainability achievements. Near-term Q4-specific headwinds (currency effects, start-up costs, year-end volume weakness and volatile precious metal prices) weighed on quarterly results and will partially carry into Q1 2026, but management characterized these as temporary and actionable (pricing adjustments, ongoing ramp-ups, and planned expansions). Overall, the highlights (annual profitability and margin improvement, medical growth, sustainability milestones and financial strength enabling M&A) outweigh the temporary lowlights.Positive Updates
Q4 Sales Growth (Currency-Adjusted)
Net sales of SEK 2.272 billion in Q4, representing approximately 2% growth adjusted for currency headwinds (company-stated).
Negative Updates
Q4 EBITA Slightly Below Prior Year and Currency Headwinds
Operating profit (EBITA) in Q4 was SEK 236 million vs SEK 240 million prior year; reported currency headwinds were sizable (management cited ~6% and CFO cited 7%), negatively impacting reported results and representing an accelerating negative effect (approx. SEK 14 million in Q4).
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Sales Growth (Currency-Adjusted)
Net sales of SEK 2.272 billion in Q4, representing approximately 2% growth adjusted for currency headwinds (company-stated).
Read all positive updates
Company Guidance
Management guided that Q4 sales were just shy of SEK 2.3bn (net sales SEK 2,272m) with ~2% currency-adjusted growth but a 7% FX headwind, EBITA of SEK 236m (vs SEK 240m) and an EBITA margin of 10.4% for the quarter (FY margin 11.3% vs 9.9% in 2024, +1.4pp), noting full‑year 2025 sales close to SEK 9.5bn, EPS SEK 2.88, a proposed dividend of SEK 1.70 (payout 59% vs 61%), and a strong balance sheet enabling M&A; Medical Solutions (58% of group) delivered just above SEK 1.3bn (+5% adj.) with an 11.6% margin (+0.4pp) while Engineered (42% of group) was close to SEK 1bn with materials up ~10% adj. but a 100bp negative hit (largely from silver pricing and customer shutdowns); temporary headwinds (US start‑up costs ~‑0.5pp on medical, lower year‑end volumes, higher precious metal costs) reduced Q4 by ~SEK 25–30m vs Q3 and will partly carry into Q1, which management expects to be a more normalized quarter as pricing actions take effect; cash flow from operations was SEK 310m, Q4 CapEx SEK 146m, FY2026 CapEx guided SEK 650–700m (≈SEK 100m remaining for Hungary), ROCE 14.2%, and sustainability progress includes a 96% reduction in Scope 1–2 and 30% reduction in upstream Scope 3 (base year 2021) with a science‑based Net‑Zero 2045 approval.Nolato AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
70
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.46B | 9.66B | 9.55B | 10.77B | 11.61B |
| Gross Profit | 1.73B | 1.61B | 1.34B | 1.43B | 1.82B |
| EBITDA | 1.59B | 1.51B | 1.28B | 1.48B | 1.92B |
| Net Income | 777.00M | 658.00M | 435.00M | 697.00M | 1.16B |
Balance Sheet | |||||
| Total Assets | 9.28B | 9.69B | 9.30B | 10.01B | 10.05B |
| Cash, Cash Equivalents and Short-Term Investments | 482.00M | 672.00M | 688.00M | 1.01B | 1.45B |
| Total Debt | 1.45B | 1.53B | 1.88B | 2.03B | 1.79B |
| Total Liabilities | 3.75B | 3.95B | 4.13B | 4.62B | 5.29B |
| Stockholders Equity | 5.53B | 5.74B | 5.17B | 5.39B | 4.77B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 742.00M | 355.00M | -49.00M | 446.00M |
| Operating Cash Flow | 310.00M | 1.38B | 781.00M | 406.00M | 1.23B |
| Investing Cash Flow | -146.00M | -636.00M | -444.00M | -451.00M | -782.00M |
| Financing Cash Flow | -206.00M | -798.00M | -631.00M | -487.00M | -634.00M |
Nolato AB Technical Analysis
Neutral
61.20
Price Trends
50.37
Positive
55.34
Negative
57.22
Negative
Market Momentum
0.54
Negative
67.70
Neutral
92.43
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NOLA.B, the sentiment is Neutral. The current price of 61.2 is above the 20-day moving average (MA) of 49.31, above the 50-day MA of 50.37, and above the 200-day MA of 57.22, indicating a neutral trend. The MACD of 0.54 indicates Negative momentum. The RSI at 67.70 is Neutral, neither overbought nor oversold. The STOCH value of 92.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NOLA.B.
Nolato AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | kr6.91B | 31.40 | 15.16% | ― | 18.06% | 10.57% | |
69 Neutral | kr16.36B | 35.29 | 4.54% | ― | 6.11% | 79.07% | |
61 Neutral | kr17.40B | 33.46 | 7.24% | 0.46% | -0.32% | 83.82% | |
58 Neutral | kr13.17B | 27.56 | 14.22% | 2.48% | -2.09% | 18.08% | |
58 Neutral | kr14.67B | 31.59 | 3.34% | 0.80% | -5.68% | -1106.19% | |
54 Neutral | kr21.01B | 546.38 | 3.08% | 4.25% | -4.32% | -103.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Nolato AB Corporate Events
Nolato Lifts Profitability in 2025 as Medical Solutions Drives Growth and M&A Ambitions
Feb 5, 2026
Nolato reported stable fourth-quarter 2025 performance in a challenging market, with currency-adjusted sales up 2% and an improved EBITA margin of 10.4%, even as reported sales and profit after tax declined slightly year on year. For the full year...
Nolato Updates Share and Vote Count After Executive Warrant Exercise
Jan 30, 2026
Nolato AB has slightly increased its share capital and voting rights following the subscription of 3,862 Class B shares under a warrant-based incentive program for senior executives approved in 2022. As of 30 January 2026, the company now has a to...
Nolato Strengthens Board with Proposed Appointments of Industrial Veterans Saltin and Malmvik
Jan 29, 2026
Nolato’s nomination committee has proposed industrial executive Gunilla Saltin and Axel Johnson International CEO Martin Malmvik as new members of the board, while current director Åsa Hedin has declined re-election. Saltin brings more ...
Nolato Schedules Webcast to Present 2025 Year-End Results
Jan 29, 2026
Nolato AB will publish its year-end report for 2025 on Thursday, 5 February at 2:00 p.m. CET and will follow it with an English-language webcast conference call at 2:45 p.m. CET, where President and CEO Christer Wahlquist and CFO Per-Ola Holmstr&#...
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.