Pandox AB (SE:PNDX.B)
:PNDX.B
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Pandox AB
(PNDX.B)
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Rating:62Neutral
Price Target:
kr180.00
â–¼(-10.00% Downside)
Action:DowngradedDate:05/01/26
The score is driven primarily by solid financial performance (strong recent margins and positive free cash flow) but is held back by high leverage and weaker cash conversion. Technicals are a major offset, with the stock trading below key moving averages and negative momentum despite oversold readings. Valuation is supportive with a moderate P/E and dividend yield.
Positive Factors
Integrated property & operations model
Pandox’s dual model—owning hotel real estate while also operating hotels—creates diversified, complementary cash streams (fixed and variable rents plus operating income). This structural mix supports resilience across cycles, enabling portfolio optimization and multiple monetization routes over months.
Negative Factors
High leverage
Meaningful leverage reduces financial flexibility and heightens sensitivity to interest-rate moves and lodging cycles. High debt levels constrain capacity for new investments, increase refinancing risk, and can pressure cash available for dividends or opportunistic buys over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated property & operations model
Pandox’s dual model—owning hotel real estate while also operating hotels—creates diversified, complementary cash streams (fixed and variable rents plus operating income). This structural mix supports resilience across cycles, enabling portfolio optimization and multiple monetization routes over months.
Read all positive factors
Pandox AB (PNDX.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr32.97B
Dividend Yield2.15%
Average Volume (3M)204.79K
Price to Earnings (P/E)12.6
Beta (1Y)0.73
Revenue Growth6.75%
EPS Growth162.97%
CountrySE
Employees1,505
SectorGeneral
Sector StrengthN/A
IndustryTravel Lodging
Share Statistics
EPS (TTM)1.71
Shares Outstanding119,603,000
10 Day Avg. Volume102,414
30 Day Avg. Volume204,786
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.17
Price to Sales (P/S)5.29
P/FCF Ratio19.61
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)12.87
Revenue Forecast (FY)kr9.24B
Pandox AB Business Overview & Revenue Model
Company Description
Pandox AB (publ) owns, operates, and leases hotel properties. The company operates through Property Management and Operator Activities segments. As of March 11, 2022, it operated 157 hotels with approximately 35,500 hotel rooms in 15 countries. Th...
How the Company Makes Money
Pandox makes money mainly through two complementary business segments: (1) Property ownership and leasing and (2) Hotel operations. In its property business, Pandox owns hotel buildings and earns rental income from hotel operators under lease agre...
Pandox AB Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
56
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.64B | 7.47B | 7.14B | 6.88B | 5.65B | 3.27B |
| Gross Profit | 4.34B | 4.22B | 3.85B | 3.62B | 3.10B | 1.73B |
| EBITDA | 5.24B | 4.32B | 3.96B | 1.87B | 4.36B | 1.46B |
| Net Income | 3.67B | 3.14B | 1.69B | -585.00M | 4.22B | 610.00M |
Balance Sheet | ||||||
| Total Assets | 113.78B | 111.89B | 80.69B | 73.21B | 75.22B | 66.80B |
| Cash, Cash Equivalents and Short-Term Investments | 1.57B | 1.19B | 1.29B | 769.00M | 1.63B | 1.59B |
| Total Debt | 53.71B | 53.05B | 38.70B | 35.63B | 37.09B | 35.66B |
| Total Liabilities | 78.83B | 77.92B | 46.99B | 43.48B | 44.28B | 41.38B |
| Stockholders Equity | 34.76B | 33.73B | 33.53B | 29.57B | 30.73B | 25.21B |
Cash Flow | ||||||
| Free Cash Flow | 1.74B | 2.01B | 802.00M | 1.27B | 1.04B | -479.00M |
| Operating Cash Flow | 3.46B | 3.10B | 1.83B | 2.19B | 2.38B | 430.00M |
| Investing Cash Flow | -16.08B | -16.88B | -4.12B | -1.48B | -1.64B | -1.52B |
| Financing Cash Flow | 12.73B | 13.76B | 2.70B | -1.70B | -806.00M | 93.00M |
Pandox AB Technical Analysis
Positive
200.00
Price Trends
185.45
Positive
187.19
Positive
180.52
Positive
Market Momentum
3.02
Negative
70.50
Negative
76.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PNDX.B, the sentiment is Positive. The current price of 200 is above the 20-day moving average (MA) of 180.86, above the 50-day MA of 185.45, and above the 200-day MA of 180.52, indicating a bullish trend. The MACD of 3.02 indicates Negative momentum. The RSI at 70.50 is Negative, neither overbought nor oversold. The STOCH value of 76.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:PNDX.B.
Pandox AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | kr21.78B | 19.48 | 3.94% | 2.27% | 1.05% | 133.24% | |
67 Neutral | kr25.06B | 12.07 | 9.74% | 3.60% | 6.56% | 30.63% | |
64 Neutral | kr19.25B | -23.34 | 21.87% | 5.28% | 1.56% | -19.70% | |
62 Neutral | kr32.97B | 12.58 | 6.23% | 2.15% | 6.75% | 162.97% | |
56 Neutral | kr18.96B | 22.79 | 3.82% | 2.20% | 1.51% | -36.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | kr24.30B | 47.66 | -0.92% | 2.39% | 12.22% | -121.80% |
* General Sector Average
SE:PNDX.B
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Pandox AB Corporate Events
Pandox posts strong Q1 earnings as lease portfolio drives growth
Apr 29, 2026
Pandox AB started 2026 with strong financial momentum, driven mainly by its lease portfolio, which delivered a 26 percent increase in revenues and a 27 percent rise in net operating income in the first quarter. Own operations saw an 8 percent reve...
Pandox AGM Approves Dividend, Board Changes and Expanded Capital Mandates
Apr 15, 2026
Pandox AB’s annual general meeting approved the 2025 financial statements, discharged the board and CEO from liability, and confirmed a dividend of SEK 4.50 per share, with the remaining earnings carried forward. Shareholders also endorsed t...
Pandox Sets Date for Q1 2026 Report and Market Outlook Briefing
Apr 15, 2026
Pandox AB will publish its interim report for the first quarter of 2026 on 29 April, with the figures released early in the morning and followed by a webcasted telephone conference for investors and analysts. The company is also enhancing the disc...
Pandox Emphasizes Scale and Role as Major European Hotel Property Owner
Mar 13, 2026
Pandox AB highlights its core business model of owning and leasing hotel properties to skilled operators who manage day-to-day hotel operations. By concentrating on property ownership rather than direct hotel management, the company positions itse...
Pandox convenes 2026 AGM with expanded participation options
Mar 12, 2026
Pandox AB has called its annual shareholders’ meeting for 15 April 2026 in Stockholm, giving investors the option to attend in person or participate via advance postal or electronic voting. The company details registration, proxy and nominee...
Pandox Lifts Earnings and Asset Value on Dalata Deal Despite Higher Leverage
Feb 5, 2026
Pandox AB closed 2025 with solid operational growth and a transformative acquisition, underscoring its strategy of expanding its hotel property portfolio in Europe. In the fourth quarter, revenue from leases rose 22% and net operating income from ...
Pandox Completes EUR 19 Million Divestment of Crowne Plaza Antwerp
Feb 2, 2026
Pandox AB has completed the previously announced divestment of the Crowne Plaza Antwerp hotel, including both the property and operating business, for approximately EUR 19 million. The 262-room hotel, which generated around EUR 11 million in reven...
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.