Thule Group AB (THULE) AI Stock Analysis

• Market Cap: kr28.08B
• Dividend Yield: 3.46%
• Average Volume (3M): 162.97K
• Price to Earnings (P/E): 26.8
• Beta (1Y): 1.31
• Revenue Growth: 7.35%
• EPS Growth: -10.34%
• Country: SE
• Employees: 2,800
• Sector: Consumer Defensive
• Sector Strength: 48
• Industry: Leisure
• EPS (TTM): 4.97
• Shares Outstanding: 107,838,165
• 10 Day Avg. Volume: 196,507
• 30 Day Avg. Volume: 162,965
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: kr330.00
• Price Target Upside: 29.21% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 66 Neutral
• Price Target: kr296.00 ▲(15.90% Upside)

Thule Group AB's overall stock score is primarily driven by its solid financial performance, with strong revenue growth and profitability margins. However, the high P/E ratio suggests the stock is overvalued, and technical indicators show mixed signals. The absence of earnings call data and corporate events means these factors did not influence the score.

Positive Factors

Operational Efficiency

Implementation of a new sales organization and efficiency measures aims to safeguard Thule's position in North America.

Sales Performance

Thule's net sales beat consensus driven by new product launches and Quad Lock.

Negative Factors

Cost Management

An elevated cost base due to the high level of products being launched drove the profitability miss.

Regional Performance

There was a negative organic decline of 13% in North America.

Thule Group AB Business Overview & Revenue Model

Company Description

Thule Group AB (THULE) is a Swedish company specializing in outdoor and transportation solutions. Founded in 1942, Thule operates within the automotive, outdoor, and leisure sectors, providing a wide range of products including roof racks, bike carriers, cargo boxes, and outdoor equipment for activities such as cycling, skiing, and hiking. The company is dedicated to promoting an active lifestyle and offers innovative and high-quality products designed for outdoor enthusiasts and travelers.

How the Company Makes Money

Thule generates revenue primarily through the sale of its outdoor and transportation products. Key revenue streams include the retail of roof racks, bike carriers, and cargo solutions directly to consumers via online platforms and physical retail outlets. Additionally, Thule partners with various automotive manufacturers and outdoor retailers to expand its distribution network, thereby enhancing its market presence. The company also benefits from seasonal demand fluctuations, particularly during summer and winter months when outdoor activities peak. Moreover, Thule's commitment to innovation and product development helps maintain competitive pricing and customer loyalty, further contributing to its earnings.

Thule Group AB Financial Statement Overview

Summary

Thule Group AB exhibits a robust financial performance with strong revenue growth and profitability margins. The balance sheet remains solid with a balanced approach to leverage, although the recent decline in free cash flow growth warrants attention. The company is well-positioned in the leisure industry, but maintaining cash flow stability will be crucial for sustaining growth.

Income Statement

Thule Group AB has demonstrated a solid performance in its income statement with a consistent revenue growth rate of 3.11% in the TTM period. The gross profit margin has improved to 44.3%, indicating efficient cost management. However, the net profit margin has slightly decreased to 10.32%, suggesting some pressure on net earnings. The EBIT and EBITDA margins remain healthy at 14.67% and 16.30% respectively, although they have slightly declined compared to previous periods.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of 0.62 in the TTM period. The return on equity is strong at 13.92%, showcasing effective utilization of shareholder funds. However, the equity ratio stands at 47.9%, indicating a moderate reliance on debt financing.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 4.77% in the TTM period, which could be a concern for future liquidity. The operating cash flow to net income ratio is at 0.71, indicating a reasonable conversion of net income into cash. The free cash flow to net income ratio is 0.88, reflecting a decent cash generation from operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.09B	9.54B	9.13B	10.14B	10.39B	7.83B
Gross Profit	4.47B	4.07B	3.74B	3.86B	4.16B	3.23B
EBITDA	1.64B	1.89B	1.84B	1.93B	2.50B	1.73B
Net Income	1.04B	1.12B	1.10B	1.27B	1.79B	1.17B
Balance Sheet
Total Assets	14.73B	14.96B	10.97B	11.68B	10.19B	8.45B
Cash, Cash Equivalents and Short-Term Investments	357.00M	405.00M	94.00M	176.00M	149.00M	706.00M
Total Debt	4.36B	4.37B	2.17B	3.06B	1.62B	1.10B
Total Liabilities	7.67B	6.86B	4.12B	5.13B	4.38B	3.19B
Stockholders Equity	7.05B	8.10B	6.85B	6.55B	5.82B	5.25B
Cash Flow
Free Cash Flow	1.54B	2.05B	1.60B	172.00M	621.00M	1.44B
Operating Cash Flow	1.75B	2.31B	1.85B	616.00M	1.13B	1.61B
Investing Cash Flow	-3.05B	-3.10B	-251.00M	-464.00M	-503.00M	-170.00M
Financing Cash Flow	1.30B	1.10B	-1.68B	-136.00M	-1.19B	-1.00B

Thule Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 255.40
• 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:THULE, the sentiment is Negative. The current price of 255.4 is below the 20-day moving average (MA) of 270.04, below the 50-day MA of 275.04, and below the 200-day MA of 298.65, indicating a bearish trend. The MACD of -3.87 indicates Positive momentum. The RSI at 36.42 is Neutral, neither overbought nor oversold. The STOCH value of 1.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:THULE.

Thule Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
THULE	66 Neutral	kr28.08B	26.81	14.77%	3.46%	7.35%	-10.34%
Sector *	63 Neutral	$20.49B	14.78	-2.88%	3.11%	1.86%	-5.76%
0GQE	―	kr20.73B	23.51	41.51%	―	―	―
0GTR	―	kr29.73B	23.39	5.10%	―	―	―
DOM	56 Neutral	kr16.58B	―		2.54%	-14.48%	-311.20%
MPZAF	―	$1.09B	80.62	25.72%	1.45%	―	―
9GY	―	€10.65M	―	-17.09%	―	―	―

Thule Group AB Corporate Events

Thule Group to Release Q2 2025 Financial Report with Web Presentation

Thule Group announced it will release its second-quarter 2025 financial report on July 15, followed by a conference call and web presentation led by CEO Mattias Ankarberg and CFO Toby Lawton. This event will provide insights into the company’s performance and strategies, potentially impacting stakeholders and market perceptions.

The most recent analyst rating on (SE:THULE) stock is a Buy with a SEK275.00 price target. To see the full list of analyst forecasts on Thule Group AB stock, see the SE:THULE Stock Forecast page.

Thule Group Announces Investor Meeting Ahead of Silent Period

Thule Group has announced an investor meeting scheduled for June 16, 2025, where CEO Mattias Ankarberg and CFO Toby Lawton will provide a brief update and conduct a Q&A session before the company enters its silent period. This meeting, held in English, will offer investors insights into the company’s operations and future outlook, with the Q2 financial results to be released on July 15.

The most recent analyst rating on (SE:THULE) stock is a Buy with a SEK275.00 price target. To see the full list of analyst forecasts on Thule Group AB stock, see the SE:THULE Stock Forecast page.

Thule Elm RWF Wins ADAC Child Car Seat Test

Thule Group’s Thule Elm RWF car seat has been named the test winner in the prestigious ADAC child car seat test, marking a successful entry into the car seat market. The modular car seat system, designed for children aged 6 months to 4 years, earned top rankings for safety and ease of use, reinforcing Thule’s commitment to child safety and comfort. This recognition positions Thule as a strong player in the child car seat industry, potentially enhancing its market reputation and stakeholder confidence.

The most recent analyst rating on (SE:THULE) stock is a Buy with a SEK275.00 price target. To see the full list of analyst forecasts on Thule Group AB stock, see the SE:THULE Stock Forecast page.