Storskogen Group AB Class B (STOR.B) AI Stock Analysis

• Market Cap: kr14.27B
• Dividend Yield: 0.88%
• Average Volume (3M): 2.86M
• Price to Earnings (P/E): 18.6
• Beta (1Y): 1.56
• Revenue Growth: -4.70%
• EPS Growth: N/A
• Country: SE
• Employees: 10,792
• Sector: Industrials
• Sector Strength: 72
• Industry: Asset Management
• EPS (TTM): 0.67
• Shares Outstanding: 1,561,723,900
• 10 Day Avg. Volume: 3,062,643
• 30 Day Avg. Volume: 2,858,686
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.96
• Price to Sales (P/S): 0.60
• P/FCF Ratio: 8.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.14
• Revenue Forecast (FY): kr33.84B

• Rating: 55 Neutral
• Price Target: kr8.50 ▼(-24.98% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by mixed financial performance—sound leverage and generally solid cash generation, but recent revenue softening and profit volatility. Technical signals are notably weak (below key moving averages with bearish momentum), which weighs on the overall rating despite a reasonable P/E and modest dividend yield.

Positive Factors

Acquisition & Hold Model

Storskogen's buy-and-hold model centers on acquiring small and mid-sized niche companies and developing them via organic initiatives and add-on M&A. That operating focus creates durable upside from improved operations, procurement and cross-selling, supporting steady earnings generation over years.

Manageable Leverage

Reported leverage declined from the 2022 peak and debt-to-equity ran roughly 0.56–0.77, indicating a conservative capital structure. This balance sheet stability preserves capacity for follow-on platform investments and buffers cyclical earnings swings, supporting long-term strategic flexibility.

Consistent Cash Generation

Operating cash flow and free cash flow have been positive across reported years, with a notable FCF pickup in 2023. Persistent cash generation underpins the group's ability to fund acquisitions, working capital and dividends, providing a durable internal funding source despite recent softness.

Negative Factors

Revenue Softening

Top-line growth has cooled: revenue fell in 2024 and 2025's recovery still leaves sales below 2023 levels. Prolonged revenue weakness reduces operating leverage, limits scope for margin recovery and constrains the internal cash flow available to pursue add-ons and organic expansion sustainably.

Earnings Volatility

Net income swung from a 2024 loss to a 2025 profit and margins have compressed versus earlier years. Such earnings instability undermines predictability of returns, complicates capital allocation decisions and raises execution risk for a platform strategy that depends on steady improvement across portfolio companies.

Weakening Free Cash Flow Trend

Although FCF strengthened in 2023, subsequent declines in 2024–2025 signal weakening cash conversion. Deteriorating FCF curtails the firm's ability to self-fund acquisitions and capex, increasing reliance on external financing and potentially slowing long-term portfolio development and value creation.

Storskogen Group AB Class B Business Overview & Revenue Model

Company Description

Storskogen Group AB (publ) acquires and operates companies in areas, such as installation, logistics, infrastructure, engineering services, digital services, HR and competence, industrial technology, automation, and products solutions. The company was founded in 2012 and is based in Stockholm, Sweden.

How the Company Makes Money

Storskogen generates revenue primarily through the acquisition and management of its portfolio companies. The company's revenue model is based on the performance of these SMEs, which contribute to the overall earnings through their individual operations. Key revenue streams include sales from the various businesses within its portfolio, as well as potential dividends and capital gains upon the eventual sale or restructuring of these companies. Storskogen's investment strategy often involves partnerships with founders and entrepreneurs, which can lead to shared success and enhanced profitability. Additionally, the company benefits from economies of scale and operational synergies across its diverse holdings, contributing to its financial performance.

Storskogen Group AB Class B Financial Statement Overview

Summary

Financials are mixed: revenue growth over 2020–2023 but softer in the last two years, with volatile profitability (loss in 2024 followed by profit in 2025). Balance sheet leverage appears manageable and debt has declined from 2022, while cash generation remains consistently positive, though free cash flow has weakened since 2023.

Income Statement

Revenue scaled materially from 2020–2023, but the last two years show a softer trajectory (2024 revenue down ~5% year-over-year; 2025 up ~4% versus 2024 but still below 2023). Profitability is inconsistent: net income swung from a loss in 2024 to a solid profit in 2025, but margins have generally compressed versus 2020–2022 levels. Operating profitability remains positive, yet the volatility in earnings quality reduces confidence in the run-rate.

Balance Sheet

Leverage appears manageable for the period where ratios are provided (debt-to-equity ~0.56–0.77 during 2022–2024), and equity is substantial relative to total assets. Total debt has come down from the 2022 peak, supporting balance sheet stability. The key weakness is inconsistent returns to shareholders (negative return on equity in 2024, positive but modest in 2023 and 2022), suggesting profitability has not been steady enough to fully capitalize on the capital base.

Cash Flow

Cash generation is consistently positive, with operating cash flow and free cash flow remaining solid across years. Free cash flow improved strongly in 2023, but has weakened since (down again in 2024 and 2025), pointing to some cooling in cash conversion or investment needs. Where available, cash flow covers a meaningful portion of debt, and cash flow relative to net income is supportive, but the recent negative free-cash-flow growth trend is a watch item.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	33.10B	34.18B	36.01B	34.25B	17.50B
Gross Profit	2.07B	6.44B	7.32B	6.78B	3.70B
EBITDA	3.82B	4.16B	4.24B	4.36B	2.29B
Net Income	1.06B	-52.00M	778.00M	1.44B	856.00M
Balance Sheet
Total Assets	41.45B	43.18B	44.17B	47.48B	32.22B
Cash, Cash Equivalents and Short-Term Investments	1.33B	1.90B	1.56B	3.02B	6.17B
Total Debt	11.95B	11.60B	12.28B	15.08B	7.55B
Total Liabilities	20.86B	22.37B	23.73B	27.85B	15.63B
Stockholders Equity	20.60B	20.81B	20.43B	19.59B	16.56B
Cash Flow
Free Cash Flow	2.45B	2.32B	2.53B	900.00M	944.00M
Operating Cash Flow	2.45B	3.10B	3.36B	1.63B	1.38B
Investing Cash Flow	-1.23B	-1.12B	-965.00M	-9.80B	-7.46B
Financing Cash Flow	-1.73B	-1.67B	-3.88B	4.94B	10.37B

Storskogen Group AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:STOR.B, the sentiment is Negative. The current price of 11.33 is above the 20-day moving average (MA) of 9.63, above the 50-day MA of 10.71, and above the 200-day MA of 10.72, indicating a bearish trend. The MACD of -0.56 indicates Positive momentum. The RSI at 31.27 is Neutral, neither overbought nor oversold. The STOCH value of 12.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:STOR.B.

Storskogen Group AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MCAP	64 Neutral	kr7.31B	37.43	15.16%	―	11.30%	-14.49%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CRED.A	63 Neutral	kr9.18B	8.37	12.47%	2.18%	4.72%	-38.28%
RATO.B	56 Neutral	kr11.67B	-18.24	6.59%	3.70%	-22.65%	-14.05%
STOR.B	55 Neutral	kr14.27B	18.63	5.21%	0.88%	-4.70%	―
BURE	53 Neutral	kr15.44B	-3.91	-23.18%	1.13%	22.38%	-153.85%
KINV.B	46 Neutral	kr16.89B	-6.93	0.33%	―	-97.64%	―

Storskogen Group AB Class B Corporate Events

Storskogen Shifts From Streamlining to Growth as 2025 Profits Rebound

Storskogen reported a mixed 2025, with fourth-quarter net sales up 2 percent to SEK 8.7 billion but adjusted EBITA down 4 percent and margins slightly weaker as softer performance in Services offset growth in Trade and Industry. For the full year, net sales declined 3 percent due to divestments, but operating profit and net income rose sharply, supported by efficiency measures, lower debt, and a stronger balance sheet.

The group cautiously resumed its acquisition agenda in the second half, completing three platform and six add-on deals while divesting one business unit, and also tapped the bond market with a SEK 1 billion issue and executed share buybacks. Management changes, a proposed dividend increase and continued focus on cash generation, digitalisation and structural growth themes underline a shift from restructuring toward disciplined, acquisition-driven expansion, positioning Storskogen to benefit as demand gradually recovers.

The most recent analyst rating on ($SE:STOR.B) stock is a Hold with a SEK11.00 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Schedules Webcast for 2025 Year-End Results on 10 February 2026

Storskogen will publish its year-end report for 2025 on 10 February 2026 at 07:00 CET, followed by an English-language presentation and Q&A at 09:00 CET led by CEO Christer Hansson and CFO Lena Glader. Investors and other stakeholders can follow the event via webcast or telephone conference, with opportunities to ask questions, and the presentation and recording will later be made available on the company’s website, underscoring Storskogen’s ongoing emphasis on transparency and regular engagement with the capital market.

The most recent analyst rating on ($SE:STOR.B) stock is a Hold with a SEK11.00 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Nominates Adam Parker to Join Board of Directors in 2026

Storskogen’s Nomination Committee has proposed Adam Parker, founder of Trivariate Research LP and a seasoned financial markets executive with prior leadership roles at Eminence Capital, Morgan Stanley and Sanford C. Bernstein, as a new member of the Board of Directors at the company’s Annual General Meeting scheduled for 6 May 2026 in Stockholm, replacing current board member Robert Belkic, who has declined re-election. The committee, chaired by Liv Gorosch and comprising representatives of major shareholders including AMF and Swedbank Robur, highlighted Parker’s international experience in risk management, strategy and financial markets as an asset to support Storskogen’s continued growth and development, while a more detailed presentation of his background will be made available ahead of the meeting.

The most recent analyst rating on ($SE:STOR.B) stock is a Buy with a SEK12.50 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Completes SEK 100 Million Class B Share Buyback Programme

Storskogen has completed its previously announced share buyback programme for its own Class B shares, repurchasing 8,865,000 shares for a total of approximately SEK 100 million under the mandate granted by the 2025 Annual General Meeting. Following the completion of the programme, Storskogen holds 8,865,000 Class B shares out of a total of 1,686,725,219 shares outstanding, a move that signals capital allocation towards enhancing shareholder value and may have implications for the company’s capital structure and earnings per share going forward.

The most recent analyst rating on ($SE:STOR.B) stock is a Buy with a SEK12.50 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Confirms Chris Pullen as Permanent Head of UK Operations

Storskogen has appointed Chris Pullen as Executive Vice President and permanent Managing Director of Storskogen UK, formalising a leadership role he has held on an interim basis since May 2025. Pullen, who joined the company as Investment Director in 2022 and chairs the boards of five business units, brings extensive CEO experience from UK-focused roles at APCOA Parking UK, idverde UK and Staffline Group, a background that Storskogen’s CEO Christer Hansson says will underpin the continued development and value creation of the group’s UK operations.

The most recent analyst rating on ($SE:STOR.B) stock is a Buy with a SEK12.50 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Promotes SoVent Chief Jesper Kronstrand to Head of Business Area Services

Storskogen has appointed Jesper Kronstrand as the new Head of its Business Area Services and member of the Executive Management Team, succeeding Peter Ahlgren, who is stepping back from operational duties but will remain involved through selected board roles and as Senior Advisor during a structured transition. Kronstrand, who has led Storskogen’s SoVent Group since 2018 and driven strong organic growth, profitability and acquisitions there, will initially stay on at SoVent to ensure continuity, and his internal promotion underscores Storskogen’s strategy of nurturing leadership from within to support continued expansion and development of its services operations.

The most recent analyst rating on ($SE:STOR.B) stock is a Hold with a SEK12.50 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.

Storskogen Adjusts Share Structure After Conversion of Class A to Class B Shares

Storskogen Group AB has updated its share and vote structure, reporting a total of 1,686,725,219 shares outstanding as of 30 December 2025, comprising 125,001,374 Class A shares and 1,561,723,845 Class B shares, corresponding to 2,811,737,585 votes, with the company holding 8,065,000 of its own Class B shares. The change in the capital structure stems from the conversion of 7,000,000 Class A shares into Class B shares under its articles of association, a move formally registered with the Swedish Companies Registration Office on 23 December 2025, and reflects ongoing adjustments to the company’s share class mix that may influence ownership dynamics and voting power distribution among shareholders.

The most recent analyst rating on ($SE:STOR.B) stock is a Hold with a SEK12.50 price target. To see the full list of analyst forecasts on Storskogen Group AB Class B stock, see the SE:STOR.B Stock Forecast page.