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Pandox AB
(PNDX.B)
Pandox AB (PNDX.B) vs. iShares MSCI Sweden ETF (EWD)
Pandox AB Business Overview & Revenue Model
Pandox AB Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.47B | 7.14B | 6.88B | 5.65B | 3.27B |
| Gross Profit | 4.22B | 3.85B | 3.62B | 3.10B | 1.73B |
| EBITDA | 4.32B | 3.96B | 1.87B | 4.36B | 1.46B |
| Net Income | 3.14B | 1.69B | -585.00M | 4.22B | 610.00M |
Balance Sheet | |||||
| Total Assets | 111.89B | 80.69B | 73.21B | 75.22B | 66.80B |
| Cash, Cash Equivalents and Short-Term Investments | 1.19B | 1.29B | 769.00M | 1.63B | 1.59B |
| Total Debt | 53.05B | 38.70B | 35.63B | 37.09B | 35.66B |
| Total Liabilities | 77.92B | 46.99B | 43.48B | 44.28B | 41.38B |
| Stockholders Equity | 33.73B | 33.53B | 29.57B | 30.73B | 25.21B |
Cash Flow | |||||
| Free Cash Flow | 2.01B | 802.00M | 1.27B | 1.04B | -479.00M |
| Operating Cash Flow | 3.10B | 1.83B | 2.19B | 2.38B | 430.00M |
| Investing Cash Flow | -16.88B | -4.12B | -1.48B | -1.64B | -1.52B |
| Financing Cash Flow | 13.76B | 2.70B | -1.70B | -806.00M | 93.00M |
Pandox AB Technical Analysis
Pandox AB Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | kr36.47B | 12.58 | 6.23% | 2.15% | 2.86% | ― | |
70 Outperform | kr24.38B | 29.65 | 3.94% | 2.27% | 1.72% | ― | |
67 Neutral | kr27.30B | 12.64 | 9.74% | 3.60% | 5.18% | 349.60% | |
63 Neutral | kr25.17B | -74.62 | -0.92% | 2.39% | -3.46% | ― | |
58 Neutral | kr20.52B | 25.45 | 3.82% | 2.20% | -1.77% | 1579.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr18.09B | 33.57 | 21.87% | 5.28% | 1.45% | 34.85% |
Pandox AB Corporate Events
Pandox AB closed 2025 with solid operational growth and a transformative acquisition, underscoring its strategy of expanding its hotel property portfolio in Europe. In the fourth quarter, revenue from leases rose 22% and net operating income from both leases and own operations increased strongly, while headline EBITDA dipped slightly due to substantial transaction and financing costs tied to the acquisition of Dalata Hotel Group plc; adjusted for these one-offs, EBITDA and cash earnings showed robust double-digit growth. For the full year, total revenue and net operating income increased, profit nearly doubled to SEK 3.2 billion driven in part by an acquisition gain of SEK 1.6 billion from Dalata, and EPRA NRV per share grew 7.3% adjusted for dividends, with the property portfolio’s market value climbing 20%. The Dalata deal, which adds 31 investment properties in Ireland and the UK and is reported as if the related hotel operating platform divestment to Scandic were already completed, significantly boosts net asset value and reinforces Pandox’s position in the European hotel real estate market, albeit at the cost of higher leverage, with loan-to-value rising to 52.7% and net debt/EBITDA to 11.8x. The board proposes a higher dividend of SEK 4.50 per share, and management notes that exposure to the financially distressed Revo Hospitality Group in Germany is expected to have only a limited impact, signalling confidence in cash flows despite a slightly weaker interest coverage ratio of 2.6x.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK201.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
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 revenue in 2024 and was reported within Pandox’s Own Operations segment, will now leave the group’s portfolio, marking a continued reshaping of its asset base and revenue mix as the company refines its focus on core holdings and leasing model.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK201.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB will publish its year-end report for the period January–December 2025 on 5 February 2026, followed by a webcasted telephone conference where management will present the results and take questions from investors and analysts. The event will also feature independent market presentations by STR International and Benchmarking Alliance on international and Nordic hotel market data, underscoring Pandox’s emphasis on transparency and providing stakeholders with broader industry context around the company’s performance.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK201.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB has moved to address tenant risk in Germany after Revo Hospitality Group, formerly HR Group and one of its German tenants, entered a self-administration procedure under the German Insolvency Act following rapid expansion. The Swedish hotel property owner emphasized that its exposure is limited to leases on nine German hotels with 1,859 rooms—around 4% of its total room stock—primarily branded Dorint and Mercure, and backed by bank guarantees equal to a year’s rent. Pandox is already evaluating alternative options for these assets, including finding new tenants or operating the hotels itself during any transition, and currently expects only limited financial impact and no change to the properties’ valuations, underscoring the resilience of its portfolio and business model for stakeholders.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK201.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB has announced a Capital Markets Day event scheduled for May 5, 2026, in London, United Kingdom. The event will include presentations and a tour of hotel properties, including those recently acquired from the Dalata portfolio. This event highlights Pandox’s strategic focus on expanding its presence in the hotel property market and engaging with stakeholders to showcase its portfolio and future growth plans.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK205.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB has announced the divestment of Crowne Plaza Antwerp in Belgium for approximately MEUR 19, with the transaction expected to close in February 2026. This strategic move is aimed at reallocating capital towards investments with higher returns, as the current land lease expires in 2042 and offers limited development opportunities within Pandox’s business model.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK205.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox is celebrating the 30th anniversary of its Hotel Market Day, an event that has become a key forum for industry leaders to discuss past developments and future drivers in the hotel market. This year’s theme, ’30 years passed, 30 years forward,’ emphasizes both historical insights and future challenges, fostering a collaborative environment for generating new ideas and understanding within the hotel industry.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK190.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB has completed the acquisition of Dalata Hotel Group plc, strengthening its position as a leading hotel property owner in Europe. The acquisition, valued at approximately MEUR 1,700, enhances Pandox’s market presence in the UK and Ireland and is expected to significantly boost rental income and cash earnings. The transaction involves a strategic partnership with Scandic Hotel Group, which will operate the acquired properties under long-term leases. This move is anticipated to create substantial value for Pandox and its stakeholders, with an increase in earnings and net asset value.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK190.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.
Pandox AB has successfully completed the acquisition of Dalata Hotel Group plc through a scheme of arrangement, with the transaction becoming effective on November 7, 2025. This acquisition is expected to enhance Pandox’s market position in the hotel industry by expanding its portfolio and operational capabilities, with the cancellation of Dalata’s shares on Euronext Dublin and the London Stock Exchange anticipated shortly after the completion.
The most recent analyst rating on ($SE:PNDX.B) stock is a Hold with a SEK190.00 price target. To see the full list of analyst forecasts on Pandox AB stock, see the SE:PNDX.B Stock Forecast page.