Thule Group (THULES) Stock Overview

Operates as a sports and outdoor company in Europe, North America, and internationally. More details

THULES fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	4/6
Financial Health	3/6
Dividends	4/6

Rewards

Trading at 48.2% below our estimate of its fair value

Earnings are forecast to grow 12.51% per year

Earnings grew by 11.8% over the past year

Analysts in good agreement that stock price will rise by 35.6%

Risk Analysis

Shares are highly illiquid

Has a high level of debt

Unstable dividend track record

THULES Community Fair Values

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Thule Group AB (publ) Competitors

Price History & Performance

Summary of share price highs, lows and changes for Thule Group
Historical stock prices
Current Share Price	SEK 204.60
52 Week High	SEK 254.00
52 Week Low	SEK 192.10
Beta	1.27
1 Month Change	-0.97%
3 Month Change	n/a
1 Year Change	-13.08%
3 Year Change	n/a
5 Year Change	-57.48%
Change since IPO	169.21%

Recent updates

Shareholder Returns

	THULES	GB Leisure	GB Market
7D	0%	-0.4%	0.04%
1Y	-13.1%	8.3%	15.9%

Return vs Industry: THULES underperformed the UK Leisure industry which returned 8.3% over the past year.

Return vs Market: THULES underperformed the UK Market which returned 15.9% over the past year.

Price Volatility

Is THULES's price volatile compared to industry and market?
THULES volatility
THULES Average Weekly Movement	n/a
Leisure Industry Average Movement	4.0%
Market Average Movement	4.9%
10% most volatile stocks in GB Market	10.8%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: THULES's share price has been volatile over the past 3 months compared to the UK market.

Volatility Over Time: Insufficient data to determine THULES's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1942	3,000	Mattias Ankarberg	www.thulegroup.com

Thule Group AB (publ) operates as a sports and outdoor company in Europe, North America, and internationally. It offers roof boxes, roof racks, bike carriers, rooftop tents, and windbreakers, as well as solutions for water and winter sports. The company also provides bike trailers, jogging and all-terrain strollers, child bikes, car seats, and carriers and harnesses for dog transportation; and duffel bags, backpacks, luggage, laptop bags, hiking backpacks, camera bags, and cases for consumer electronics.

Thule Group AB (publ) Fundamentals Summary

How do Thule Group's earnings and revenue compare to its market cap?
THULES fundamental statistics
Market cap	SEK 21.27b
Earnings (TTM)	SEK 1.17b
Revenue (TTM)	SEK 10.36b

18.3x

P/E Ratio

2.1x

P/S Ratio

Is THULES overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
THULES income statement (TTM)
Revenue	SEK 10.36b
Cost of Revenue	SEK 5.56b
Gross Profit	SEK 4.80b
Other Expenses	SEK 3.63b
Earnings	SEK 1.17b

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

Oct 22, 2026

Earnings per share (EPS)	10.80
Gross Margin	46.32%
Net Profit Margin	11.25%
Debt/Equity Ratio	54.7%

How did THULES perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

77%

Payout Ratio

Does THULES pay a reliable dividends?

See THULES dividend history and benchmarks

When do you need to buy THULES by to receive an upcoming dividend?
Thule Group dividend dates
Ex Dividend Date	Oct 02 2026
Dividend Pay Date	Oct 08 2026
Days until Ex dividend	11 days
Days until Dividend pay date	17 days

Does THULES pay a reliable dividends?

See THULES dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/20 19:03
End of Day Share Price	2026/09/02 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Thule Group AB (publ) is covered by 16 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Lars Topholm	Carnegie Investment Bank AB
Daniel Schmidt	Danske Bank

Thule Group (THULES) Stock Overview

Rewards

Risk Analysis

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Thule Group AB (publ) Competitors

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Price History & Performance

Recent News & Updates

First half dividend of kr4.15 announced

Dividend of kr4.15 announced

Dividend of kr4.15 announced

Thule Group AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027

Thule Group AB (publ) to Report Q2, 2026 Results on Jul 20, 2026

Thule Group AB (publ), Annual General Meeting, May 11, 2026

Recent updates

First half dividend of kr4.15 announced

Dividend of kr4.15 announced

Dividend of kr4.15 announced

Thule Group AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027

Thule Group AB (publ) to Report Q2, 2026 Results on Jul 20, 2026

Thule Group AB (publ), Annual General Meeting, May 11, 2026

Thule Board Member acquired an unknown minority stake in Thule Group AB (publ) (OM:THULE) for SEK 1.04 million in a management participated transaction.

Thule Group AB (Publ) Proposes Dividend

Thule Group AB (publ) to Report Fiscal Year 2025 Results on Feb 10, 2026

Thule Group AB (publ) to Report Q4, 2024 Results on Feb 07, 2025

Thule Group AB (publ) (OM:THULE) completed the acquisition of Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty Ltd

Thule Group AB (publ) to Report Q3, 2025 Results on Oct 22, 2025

Thule Group AB (publ) to Report Q2, 2025 Results on Jul 15, 2025

Thule Group AB (publ), Annual General Meeting, Apr 29, 2025

Thule Group (Publ) Appoints Catharina Paulcén as Senior Vice President Corporate Communications and Investor Relations

Thule Group AB (Publ) Announces Board Appointments

Insider recently sold kr2.4m worth of stock

Final dividend of kr4.75 announced

Thule Group AB (publ) to Report Fiscal Year 2023 Final Results on Apr 05, 2024

Thule Group AB (publ) Proposes Dividend

Thule Group AB (publ) to Report Q2, 2024 Results on Jul 17, 2024

Thule Group AB (publ) to Report Q1, 2024 Results on Apr 26, 2024

Thule Group AB (publ), Annual General Meeting, Apr 26, 2024

Thule Group AB (Publ) Appoints Toby Lawton as Chief Financial Officer, Effective January 2024

Jonas Lindqvist to Leave as Chief Financial Officer of Thule Group AB (publ)

Thule Group AB (publ) Proposes Dividend

Thule Group AB (publ) Announces Executive Changes, Effective No Later Than August 9, 2023

Thule Group AB (publ) to Report Fiscal Year 2022 Results on Mar 31, 2023

Thule Group AB (publ) to Report Q3, 2023 Results on Oct 27, 2023

Thule Group AB (publ) to Report Q2, 2023 Results on Jul 19, 2023

Now 21% undervalued after recent price drop

Independent Director recently bought kr200k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insider recently bought kr100k worth of stock

Third quarter 2021 earnings released: EPS kr4.93 (vs kr4.31 in 3Q 2020)

Insider recently sold kr9.7m worth of stock

President of Region Americas Fred Clark has left the company

First quarter 2021 earnings released: EPS kr4.27 (vs kr2.34 in 1Q 2020)

Upcoming dividend of kr11.50 per share

Full year 2020 earnings released: EPS kr11.24 (vs kr8.56 in FY 2019)

New 90-day high: kr346

Full year 2020 earnings released: EPS kr11.23 (vs kr8.56 in FY 2019)

Revenue beats expectations

New 90-day high: kr327

New 90-day high: kr325

Shareholder Returns

Price Volatility

About the Company

Thule Group AB (publ) Fundamentals Summary

Earnings & Revenue

Dividends

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources