Svolder AB Class B (SVOL.B) AI Stock Analysis

• Market Cap: kr5.36B
• Dividend Yield: 0.79%
• Average Volume (3M): 138.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: -25.75%
• EPS Growth: -27.25%
• Country: SE
• Employees: 6
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): N/A
• Shares Outstanding: 97,417,435
• 10 Day Avg. Volume: 148,343
• 30 Day Avg. Volume: 138,061
• PEG Ratio: -6.49
• Price to Book (P/B): 0.94
• Price to Sales (P/S): 173.73
• P/FCF Ratio: 56.37
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: kr55.00 ▼(-5.74% Downside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is driven primarily by solid financial resilience (debt-free balance sheet and consistently positive cash flow) tempered by highly volatile, market-sensitive earnings. Technical indicators are the biggest near-term drag, with the price below key moving averages and negative momentum. Valuation is supportive with a moderate P/E and modest dividend yield.

Positive Factors

Debt-free balance sheet

A zero-debt balance sheet materially reduces financial risk and preserves flexibility to hold positions through market cycles, pursue opportunistic purchases, and avoid forced asset sales. This durable solvency supports NAV stability and long-term capital preservation for shareholders.

Consistent positive cash generation

Regular positive operating and free cash flow provides persistent liquidity to fund dividends, cover operating costs, and support portfolio activity without relying on external financing. This steady cash generation is a durable enabler of shareholder distributions and portfolio management.

Diversified investment return drivers

Multiple, structural income streams — dividends, realized gains, unrealized valuation changes and interest — reduce reliance on any single source. This mix aligns incentives with long-term NAV growth and gives management several levers to generate shareholder value across different market regimes.

Negative Factors

High earnings volatility

Large year-to-year swings in reported earnings and NAV are inherent to the investment company model here. That volatility impairs predictability of returns and dividends, complicates capital planning, and can force value-destructive disposals in stressed markets over the medium term.

Recent revenue and EPS declines

Material negative growth in revenue and EPS across recent periods signals deterioration in realized income or portfolio performance. Over a 2–6 month horizon this reduces the company's ability to generate distributable earnings and weakens momentum behind NAV recovery absent market improvement.

Cash small vs. earnings swings

Although cash generation is consistently positive, its scale is modest versus volatile earnings, so cash alone may not smooth NAV fluctuations or fund large distribution needs. Timing variability in cash conversion increases the likelihood of asset sales to meet obligations in downturns.

Svolder AB Class B Business Overview & Revenue Model

Company Description

Svolder AB (publ) operates is a publicly owned investment manager. The firm operates as an investment trust. It invests in the shares of listed small and medium-size companies in Sweden. Svolder AB (publ) was founded in June, 1993 and is based in Stockholm, Sweden.

How the Company Makes Money

Svolder AB makes money primarily through capital gains and dividends from its investment portfolio. The company's revenue model is based on investing in carefully selected small and medium-sized companies, holding these investments over time to benefit from their potential growth, and generating returns as these companies increase in value. Additionally, Svolder earns income from dividends distributed by the companies it invests in. The firm's performance is also influenced by its ability to effectively manage its portfolio, including buying and selling equities based on market conditions and company fundamentals. Significant partnerships with brokerage firms and financial institutions may also play a role in facilitating its investment activities and market transactions.

Svolder AB Class B Financial Statement Overview

Summary

Financials are resilient overall, supported by a conservatively positioned, debt-free balance sheet (strong solvency) and consistently positive operating/free cash flow. The main offset is highly volatile profitability and market-sensitive results with sharp swings across years, reducing earnings stability and predictability.

Income Statement

Results are highly volatile, which is typical for an investment/asset management model where reported revenue and earnings can swing with market moves. TTM (Trailing-Twelve-Months) shows a sharp rebound with very strong profitability and outsized revenue growth, but the prior years include periods of significant losses (2022–2023) followed by a very strong 2024 and a much lower-profit 2025 annual print. Overall, profitability can be excellent in good markets, but earnings quality and year-to-year stability are uneven.

Balance Sheet

The balance sheet is conservatively positioned with zero reported debt across all periods and a large equity base relative to total assets, reducing financial risk and improving resilience. Returns on equity, however, swing meaningfully (negative in 2022–2023, strong in 2021 and 2024, modest in TTM), reflecting that shareholder returns are driven more by portfolio/market outcomes than steady operating leverage.

Cash Flow

Cash generation is consistently positive, with operating cash flow and free cash flow positive each year and modestly growing in the latest TTM (Trailing-Twelve-Months). Free cash flow tracks net income closely in the data provided, which is supportive. That said, cash flow is small relative to the large earnings swings in some periods, and the operating cash flow relative to net income varies widely in the annual series, suggesting timing effects and less predictability in cash conversion.

Breakdown	TTM	Aug 2025	Aug 2024	Aug 2023	Aug 2022	Aug 2021
Income Statement
Total Revenue	533.40M	31.80M	894.46M	-493.48M	-1.16B	3.51B
Gross Profit	533.40M	31.73M	894.46M	-493.48M	-1.16B	3.51B
EBITDA	518.41M	8.68M	149.78M	-525.44M	-1.19B	3.49B
Net Income	440.30M	8.60M	876.20M	-525.50M	-1.19B	3.49B
Balance Sheet
Total Assets	5.80B	5.88B	6.03B	5.27B	5.88B	7.13B
Cash, Cash Equivalents and Short-Term Investments	292.30M	430.80M	323.90M	190.20M	734.10M	429.90M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	163.30M	25.20M	6.40M	21.50M	15.40M	10.90M
Stockholders Equity	5.63B	5.86B	6.02B	5.25B	5.87B	7.12B
Cash Flow
Free Cash Flow	107.90M	98.00M	86.40M	77.50M	113.10M	73.40M
Operating Cash Flow	107.90M	98.10M	86.50M	77.60M	113.20M	73.40M
Investing Cash Flow	176.80M	183.00M	149.50M	-529.30M	255.00M	167.20M
Financing Cash Flow	-46.10M	-174.10M	-102.40M	-92.20M	-64.00M	-56.30M

Svolder AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 58.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SVOL.B, the sentiment is Negative. The current price of 58.35 is above the 20-day moving average (MA) of 51.04, above the 50-day MA of 55.17, and above the 200-day MA of 54.86, indicating a bearish trend. The MACD of -1.19 indicates Negative momentum. The RSI at 39.41 is Neutral, neither overbought nor oversold. The STOCH value of 42.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SVOL.B.

Svolder AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ORES	78 Outperform	kr6.20B	6.12	―	6.23%	-0.22%	-58.80%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SVOL.B	63 Neutral	kr5.36B	-35.16	7.55%	0.79%	-25.75%	-27.25%
CRED.A	63 Neutral	kr9.11B	8.37	11.24%	2.18%	4.72%	-38.28%
IDUN.B	54 Neutral	kr3.52B	75.68	7.92%	0.31%	3.71%	26.89%
LINC	48 Neutral	kr3.91B	-10.10	-1.58%	―	45733.33%	-105.08%