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Thule Group AB Unsponsored ADR (THUPY)
OTHER OTC:THUPY
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Thule Group AB Unsponsored ADR
(OTC:THUPY)
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Rating:63Neutral
Price Target:
$13.50
▲(6.47% Upside)
Thule Group AB's stock score is primarily influenced by its financial performance, which shows declining revenue and cash flow, posing risks to future growth. Despite these challenges, the company maintains strong margins and has shown operational efficiencies in recent earnings. Technical indicators suggest a bearish trend, while the valuation is moderate. The earnings call provided some positive insights into profitability improvements, but concerns about organic growth and market challenges remain.
Positive Factors
Profitability Improvements
Improved EBIT margin indicates strong operational efficiency and cost management, which can support long-term profitability and competitiveness.
Strong Cash Flow
Strong cash flow generation enhances financial flexibility, enabling debt reduction and investment in growth opportunities.
New Product Development
Expansion into new product categories can drive future revenue growth and diversify the company's market offerings.
Negative Factors
Decline in Organic Growth
A decline in organic growth suggests challenges in maintaining market share and could impact long-term revenue potential.
Challenging North American Market
Weak performance in a key market like North America can hinder overall growth and reflects broader economic challenges.
Currency Effects
Adverse currency effects can erode international sales and profitability, posing a risk to financial performance.
Thule Group AB Unsponsored ADR (THUPY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.80B
Dividend Yield2.57%
Average Volume (3M)628.00
Price to Earnings (P/E)25.9
Beta (1Y)0.90
Revenue Growth14.37%
EPS Growth-6.07%
CountryUS
Employees2,800
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)0.15
Shares Outstanding215,676,330
10 Day Avg. Volume60
30 Day Avg. Volume628
Financial Highlights & Ratios
PEG Ratio22.74
Price to Book (P/B)4.22
Price to Sales (P/S)3.58
P/FCF Ratio16.70
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue0.37
Enterprise Value/Gross Profit0.83
Enterprise Value/Ebitda2.49
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Thule Group AB Unsponsored ADR Business Overview & Revenue Model
Company DescriptionThule Group AB (publ) operates as a sports and outdoor company. It offers roof racks; roof boxes; carriers for transporting bikes, water, and winter sports equipment and rooftop tents; awnings, bike carriers, and tents for RVs and caravans; bike trailers, child bike seats, and strollers; luggage, backpacks, and laptop and sport bags; and hiking backpacks, camera bags, and cases for consumer electronics. The company offers its products primarily under the Thule and Case Logic brands. It operates in Sweden, other Nordic countries, Germany, rest of Europe, the United States, other North America, Central/South America, the Asia/Pacific Rim, and internationally. Thule Group AB (publ) was founded in 1942 and is headquartered in Malmö, Sweden.
How the Company Makes MoneyThule Group AB generates revenue through the sale of its wide array of outdoor and transportation products across various channels, including retail, e-commerce, and direct sales. Key revenue streams include the sales of roof racks, bike carriers, and travel accessories, which are popular among consumers who engage in outdoor activities. The company also benefits from partnerships with retailers and distributors, enhancing its market reach and brand visibility. Additionally, Thule's focus on innovation and high-quality products helps to maintain customer loyalty and drive repeat purchases, contributing to its overall earnings.
Thule Group AB Unsponsored ADR Earnings Call Summary
Earnings Call Date:Oct 22, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 10, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong profitability improvements and operational efficiencies, offset by challenges in organic growth, particularly in the North American market and negative currency effects.Q3-2025 Updates
Positive Updates
Improved Profitability
The company reported a profitability improvement with an EBIT margin of 17.9% in Q3, higher than last year's and historical averages for the quarter.
Record Gross Margin
Gross margin increased to 47.5%, primarily driven by the acquisition of Quad Lock, price/mix improvements, and supply chain efficiencies.
Strong Cash Flow
Generated a cash flow from operations of SEK 668 million, allowing for a SEK 500 million reduction in net debt.
New Product Categories
Good development of new product categories, including dog products and child car seats, with notable launches such as Thule Cappy and Thule Palm.
Operational Efficiency
Efficiencies in manufacturing and SG&A through increased in-sourcing and consolidation of warehousing services.
Negative Updates
Decline in Organic Growth
Organic growth down 4% in the quarter, influenced by weak consumer demand and cautious retail replenishment.
Challenging North American Market
North American market remains tough with a 5% decline in organic sales in Q3, attributed to weak consumer sentiment and tariff impacts.
Currency Effects
Significant negative currency effects impacted net sales by 5% in the quarter.
Reduced Quad Lock Margin
Quad Lock's contribution to EBIT was lower in Q3 compared to Q2, due to the absence of last year's customer introduction effects.
Company Guidance
In the third quarter of fiscal year 2025, Thule reported a 13% increase in total sales compared to the previous year, excluding currency effects, with a 4% decline in organic growth and a significant negative currency impact of 5%. The company's EBIT margin improved to 17.9%, surpassing both the previous year's performance and historical averages for the quarter. A strong gross margin of 47.5% was achieved, while SG&A costs, excluding the acquired Quad Lock business, decreased. Thule's EBIT rose to SEK 453 million from SEK 413 million last year, and the company generated a cash flow from operations of SEK 668 million. Thule continued to focus on reducing inventory, targeting a further SEK 200 million reduction. Additionally, the company saw promising results from new product categories and ongoing changes in North America. Overall, Thule maintained a long-term trend of profitable growth, with a net sales of SEK 10.3 billion and an EBIT of SEK 1.7 billion over the past 12 months, representing an EBIT margin of 16.1%.Thule Group AB Unsponsored ADR Financial Statement Overview
Summary
Thule Group AB is facing challenges with declining revenue and cash flow, which could impact future growth. The company maintains strong margins and a stable balance sheet, but the significant drop in free cash flow and revenue growth are areas of concern. Continued focus on cost management and debt reduction will be crucial to improve financial health.Income Statement
The company has experienced a significant decline in revenue growth, with a TTM revenue decrease of over 20%. Despite this, the gross profit margin remains healthy at 45.4%, indicating strong cost management. However, the net profit margin has decreased to 10.3% from previous levels, reflecting pressure on profitability. The EBIT and EBITDA margins are solid, suggesting operational efficiency, but the declining revenue trend is a concern.Balance Sheet
The balance sheet shows a moderate debt-to-equity ratio of 0.59, indicating manageable leverage. The return on equity is stable at 14%, reflecting decent profitability relative to shareholder equity. The equity ratio is not explicitly calculated, but the company's equity position appears stable. Overall, the balance sheet is solid, but there is room for improvement in reducing debt levels.Cash Flow
The cash flow statement reveals a concerning decline in free cash flow growth, down by over 56% in the TTM period. The operating cash flow to net income ratio is 0.72, indicating that cash generation is not fully covering net income. The free cash flow to net income ratio is 0.78, suggesting some challenges in converting profits into free cash flow. These factors highlight potential liquidity concerns.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.01B | 9.54B | 9.13B | 10.14B | 10.39B | 7.83B |
| Gross Profit | 3.59B | 4.07B | 3.74B | 3.86B | 4.16B | 3.23B |
| EBITDA | 1.19B | 1.89B | 1.88B | 1.94B | 2.50B | 1.73B |
| Net Income | 773.99M | 1.12B | 1.10B | 1.27B | 1.79B | 1.17B |
Balance Sheet | ||||||
| Total Assets | 1.54B | 14.96B | 10.97B | 11.68B | 10.19B | 8.45B |
| Cash, Cash Equivalents and Short-Term Investments | 80.91M | 405.00M | 94.00M | 176.00M | 149.00M | 706.00M |
| Total Debt | 461.88M | 4.37B | 2.17B | 3.06B | 1.62B | 1.10B |
| Total Liabilities | 761.18M | 6.86B | 4.12B | 5.13B | 4.38B | 3.19B |
| Stockholders Equity | 778.19M | 8.10B | 6.85B | 6.55B | 5.82B | 5.25B |
Cash Flow | ||||||
| Free Cash Flow | 672.30M | 2.05B | 1.60B | 172.00M | 621.00M | 1.44B |
| Operating Cash Flow | 864.77M | 2.31B | 1.85B | 616.00M | 1.13B | 1.61B |
| Investing Cash Flow | -3.02B | -3.10B | -251.00M | -464.00M | -503.00M | -170.00M |
| Financing Cash Flow | 1.72B | 1.10B | -1.68B | -136.00M | -1.19B | -1.00B |
Thule Group AB Unsponsored ADR Technical Analysis
Negative
12.68
Price Trends
12.89
Negative
12.97
Negative
13.25
Negative
Market Momentum
-0.06
Positive
47.52
Neutral
50.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THUPY, the sentiment is Negative. The current price of 12.68 is below the 20-day moving average (MA) of 12.80, below the 50-day MA of 12.89, and below the 200-day MA of 13.25, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 47.52 is Neutral, neither overbought nor oversold. The STOCH value of 50.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for THUPY.
Thule Group AB Unsponsored ADR Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $3.84B | 25.81 | 21.77% | ― | 1.56% | -17.21% | |
70 Outperform | $5.12B | 23.86 | 25.91% | 1.15% | 4.20% | 24.12% | |
70 Outperform | $2.27B | 31.38 | 13.53% | 0.79% | 7.27% | 45.12% | |
63 Neutral | $2.80B | 25.92 | 14.70% | 2.57% | 14.37% | -6.07% | |
62 Neutral | $2.53B | -1.73 | -46.95% | ― | -3.58% | -12720.97% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $453.39M | -13.14 | -7.78% | 3.22% | -0.07% | -31.45% |
* Consumer Cyclical Sector Average
THUPY
Thule Group AB Unsponsored ADR
12.68
-1.24
-8.93%
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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.