Pandox AB (SE:PNDX.B)
:PNDX.B
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Pandox AB
(PNDX.B)
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Rating:70Outperform
Price Target:
kr197.00
▼(-1.50% Downside)
Action:UpgradedDate:02/07/26
The score is supported by a clear technical uptrend and reasonable valuation. The main constraint is financial risk: earnings have been cyclical/volatile and leverage has risen, with cash flow modest relative to debt despite recent improvement.
Positive Factors
High Profitability & Margins
Pandox’s very strong 2025 margins and large revenue rebound imply meaningful operating leverage in its hotel portfolio. Durable high margins boost long-term cash generation capacity, supporting reinvestment, lease flexibility and debt service if underlying demand holds.
Negative Factors
Rising Leverage
Meaningfully higher leverage increases Pandox’s sensitivity to interest rates and demand shocks. Elevated debt amplifies refinancing and covenant risk, reducing financial flexibility and making long-term returns more dependent on sustained recovery in hotel cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & Margins
Pandox’s very strong 2025 margins and large revenue rebound imply meaningful operating leverage in its hotel portfolio. Durable high margins boost long-term cash generation capacity, supporting reinvestment, lease flexibility and debt service if underlying demand holds.
Read all positive factors
Pandox AB (PNDX.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr36.12B
Dividend Yield2.15%
Average Volume (3M)204.79K
Price to Earnings (P/E)12.6
Beta (1Y)0.67
Revenue Growth2.86%
EPS GrowthN/A
CountrySE
Employees1,505
SectorGeneral
Sector StrengthN/A
IndustryTravel Lodging
Share Statistics
EPS (TTM)3.54
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)12.84
Revenue Forecast (FY)kr9.25B
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
78
Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| 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
Negative
200.00
Price Trends
189.37
Negative
191.32
Negative
183.63
Negative
Market Momentum
-3.18
Negative
45.31
Neutral
55.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PNDX.B, the sentiment is Negative. The current price of 200 is above the 20-day moving average (MA) of 182.54, above the 50-day MA of 189.37, and above the 200-day MA of 183.63, indicating a bearish trend. The MACD of -3.18 indicates Negative momentum. The RSI at 45.31 is Neutral, neither overbought nor oversold. The STOCH value of 55.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | kr36.12B | 12.58 | 6.23% | 2.15% | 2.86% | ― | |
70 Outperform | kr23.45B | 29.65 | 3.94% | 2.27% | 1.72% | ― | |
67 Neutral | kr26.82B | 12.64 | 9.74% | 3.60% | 5.18% | 349.60% | |
63 Neutral | kr24.33B | -74.62 | -0.92% | 2.39% | -3.46% | ― | |
58 Neutral | kr19.34B | 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 | kr18.75B | 33.57 | 21.87% | 5.28% | 1.45% | 34.85% |
* General Sector Average
SE:PNDX.B
Pandox AB
185.60
43.45
30.57%
SE:FABG
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8.83%
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19.21%
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87.25
2.56
3.02%
SE:ATRLJ.B
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1.93
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38.14%
Pandox AB Corporate Events
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...
Pandox Sets Date for 2025 Year-End Report and Market Briefing
Jan 22, 2026
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 ev...
Pandox Plays Down Impact of German Tenant Revo’s Insolvency
Jan 20, 2026
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 hot...
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.