Stock Analysis Report

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Executive Summary

Gunnebo AB (publ) develops and supplies security products, services, and software for banks, retail, mass transit, public and commercial buildings, and industrial and high-risk sites. More Details

Snowflake Analysis

Fair value with mediocre balance sheet.

Similar Companies

Share Price & News

How has Gunnebo's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: GUNN is more volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: GUNN's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of Swedish stocks.

Market Performance

7 Day Return




SE Commercial Services


SE Market

1 Year Return




SE Commercial Services


SE Market

Return vs Industry: GUNN exceeded the Swedish Commercial Services industry which returned -6.2% over the past year.

Return vs Market: GUNN underperformed the Swedish Market which returned 17.7% over the past year.

Shareholder returns

7 Day0.4%0.7%-0.6%
30 Day1.2%6.4%5.3%
90 Day30.5%16.0%9.2%
1 Year1.4%1.4%-4.8%-6.6%17.9%14.6%
3 Year-13.3%-22.0%6.1%-2.5%42.1%23.9%
5 Year-33.6%-43.2%22.5%5.9%72.5%36.1%

Long-Term Price Volatility Vs. Market

How volatile is Gunnebo's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Gunnebo undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: GUNN (SEK25.05) is trading below our estimate of fair value (SEK73.99)

Significantly Below Fair Value: GUNN is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: GUNN is unprofitable, so we can't compare its PE Ratio to the SE Commercial Services industry average.

PE vs Market: GUNN is unprofitable, so we can't compare its PE Ratio to the Swedish market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GUNN's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: GUNN is good value based on its PB Ratio (2.1x) compared to the SE Commercial Services industry average (2.2x).

Next Steps

Future Growth

How is Gunnebo forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Commercial Services industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Gunnebo has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Gunnebo performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GUNN is currently unprofitable.

Growing Profit Margin: GUNN is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GUNN is unprofitable, and losses have increased over the past 5 years at a rate of 34.9% per year.

Accelerating Growth: Unable to compare GUNN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GUNN is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (-13.5%).

Return on Equity

High ROE: GUNN has a negative Return on Equity (-14.77%), as it is currently unprofitable.

Next Steps

Financial Health

How is Gunnebo's financial position?

Financial Position Analysis

Short Term Liabilities: GUNN's short term assets (SEK2.2B) exceed its short term liabilities (SEK1.4B).

Long Term Liabilities: GUNN's short term assets (SEK2.2B) exceed its long term liabilities (SEK2.2B).

Debt to Equity History and Analysis

Debt Level: GUNN's debt to equity ratio (141.5%) is considered high.

Reducing Debt: GUNN's debt to equity ratio has increased from 1.8% to 141.5% over the past 5 years.

Debt Coverage: GUNN's debt is well covered by operating cash flow (22.2%).

Interest Coverage: GUNN is unprofitable, therefore interest payments are not well covered by earnings.

Balance Sheet

Next Steps


What is Gunnebo current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate GUNN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GUNN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GUNN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GUNN's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: GUNN is not paying a notable dividend for the Swedish market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GUNN's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Stefan Syren (54 yo)





Mr. Stefan Syren is President and CEO at Gunnebo AB (publ) since November 07, 2019 and serves as its Senior Vice President of Business Unit Safe Storage since 2019 and also serves as Senior Vice Presiden...

CEO Compensation Analysis

Compensation vs Market: Stefan's total compensation ($USD118.94K) is below average for companies of similar size in the Swedish market ($USD379.06K).

Compensation vs Earnings: Insufficient data to compare Stefan's compensation with company performance.

Leadership Team

Stefan Syren
President1.08yrskr1.00mno data
Robert Hermans
EVP, Deputy CEO & SVP of Business Unit Entrance Control10.92yrskr837.00k0%
Åke Bengtsson
Chief Financial Officer0.83yrno data0%
Isabelle Ljunggren
Director of Investor Relationsno datano datano data
Christian Carlsson
Senior Vice President of Human Resources & Sustainability4yrsno datano data
Christian Weisser
Senior Vice President of Business Unit Cash Management1.83yrsno data0%


Average Tenure


Average Age

Experienced Management: GUNN's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Martin Svalstedt
Independent Director17.92yrskr500.00k0%
Mikael Jönsson
Independent Director20.92yrskr315.00k0%
Eva Elmstedt
Independent Director5.92yrskr320.00k0%
Charlotte Jansdotter Karlberg
Independent Director8.75yrskr255.00k0%
Panu Routila
Independent Chairman of the Board0.50yrno datano data
Crister Carlsson
Employee Representative Director1.92yrskr38.70kno data
Anna Saether
Independent Director3.67yrskr270.00k0.0039%
SEK 93.6k
Micke Fridström
Employee Representative Director2.92yrsno data0%


Average Tenure


Average Age

Experienced Board: GUNN's board of directors are considered experienced (4.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GUNN insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Gunnebo AB (publ)'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Gunnebo AB (publ)
  • Ticker: GUNN
  • Exchange: OM
  • Founded: 1764
  • Industry: Security and Alarm Services
  • Sector: Commercial Services
  • Market Cap: kr2.389b
  • Shares outstanding: 95.56m
  • Website:

Number of Employees


  • Gunnebo AB (publ)
  • PO Box 5181
  • Gothenburg
  • Västra Götaland County
  • 402 26
  • Sweden


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GUNNOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKDec 1993
0GNXLSE (London Stock Exchange)YesOrdinary SharesGBSEKDec 1993
GUNNsBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKDec 1993


Gunnebo AB (publ) develops and supplies security products, services, and software for banks, retail, mass transit, public and commercial buildings, and industrial and high-risk sites. It offers cash manage...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 19:40
End of Day Share Price2020/12/03 00:00
Annual Earnings2019/12/31

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 here.