OM:INVE A

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Investor AB (publ) is a venture capital firm specializing in mature, middle market, buyouts and growth capital investments. More Details


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: INVE A is less volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: INVE A's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

1.3%

INVE A

1.3%

SE Diversified Financial

1.6%

SE Market


1 Year Return

17.2%

INVE A

21.9%

SE Diversified Financial

15.6%

SE Market

Return vs Industry: INVE A underperformed the Swedish Diversified Financial industry which returned 24.1% over the past year.

Return vs Market: INVE A matched the Swedish Market which returned 17.1% over the past year.


Shareholder returns

INVE AIndustryMarket
7 Day1.3%1.3%1.6%
30 Day7.2%5.8%5.6%
90 Day10.8%10.8%10.9%
1 Year19.3%17.2%23.5%21.9%18.7%15.6%
3 Year77.6%64.4%67.8%51.6%48.6%30.9%
5 Year156.3%122.7%151.1%111.8%87.5%47.6%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

12.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: INVE A (SEK625) is trading below our estimate of fair value (SEK712.98)

Significantly Below Fair Value: INVE A is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: INVE A is poor value based on its PE Ratio (9.1x) compared to the SE Diversified Financial industry average (6.4x).

PE vs Market: INVE A is good value based on its PE Ratio (9.1x) compared to the Swedish market (23.8x).


Price to Earnings Growth Ratio

PEG Ratio: INVE A's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: INVE A is good value based on its PB Ratio (1x) compared to the SE Diversified Financial industry average (1.2x).


Next Steps

Future Growth

How is Investor forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-96.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INVE A's earnings are forecast to decline over the next 3 years (-96% per year).

Earnings vs Market: INVE A's earnings are forecast to decline over the next 3 years (-96% per year).

High Growth Earnings: INVE A's earnings are forecast to decline over the next 3 years.

Revenue vs Market: INVE A's revenue is expected to decline over the next 3 years (-39.7% per year).

High Growth Revenue: INVE A's revenue is forecast to decline over the next 3 years (-39.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: INVE A's Return on Equity is forecast to be low in 3 years time (2%).


Next Steps

Past Performance

How has Investor performed over the past 5 years?

21.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: INVE A has high quality earnings.

Growing Profit Margin: INVE A's current net profit margins (59.9%) are lower than last year (70.2%).


Past Earnings Growth Analysis

Earnings Trend: INVE A's earnings have grown significantly by 21% per year over the past 5 years.

Accelerating Growth: INVE A's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: INVE A had negative earnings growth (-47.4%) over the past year, making it difficult to compare to the Diversified Financial industry average (189.7%).


Return on Equity

High ROE: INVE A's Return on Equity (11.4%) is considered low.


Next Steps

Financial Health

How is Investor's financial position?


Financial Position Analysis

Short Term Liabilities: INVE A's short term assets (SEK41.3B) exceed its short term liabilities (SEK14.4B).

Long Term Liabilities: INVE A's short term assets (SEK41.3B) do not cover its long term liabilities (SEK93.9B).


Debt to Equity History and Analysis

Debt Level: INVE A's debt to equity ratio (18.3%) is considered satisfactory.

Reducing Debt: INVE A's debt to equity ratio has reduced from 19.3% to 18.3% over the past 5 years.

Debt Coverage: INVE A's debt is not well covered by operating cash flow (13%).

Interest Coverage: INVE A's interest payments on its debt are well covered by EBIT (24.8x coverage).


Balance Sheet


Next Steps

Dividend

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

2.24%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: INVE A's dividend (2.24%) is higher than the bottom 25% of dividend payers in the Swedish market (0.94%).

High Dividend: INVE A's dividend (2.24%) is low compared to the top 25% of dividend payers in the Swedish market (3.41%).


Stability and Growth of Payments

Stable Dividend: INVE A's dividend payments have been volatile in the past 10 years.

Growing Dividend: INVE A's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.3%), INVE A's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: INVE A's dividends in 3 years are not forecast to be well covered by earnings (121.6% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Johan Forssell (49 yo)

5.67yrs

Tenure

kr24,137,000

Compensation

Mr. Johan Forssell, M.Sc., serves as Director at Patricia Industries since May 2015. He has been the Chief Executive Officer at Investor AB since May 12, 2015 and has been its Member of Management Group si...


CEO Compensation Analysis

Compensation vs Market: Johan's total compensation ($USD2.91M) is above average for companies of similar size in the Swedish market ($USD2.01M).

Compensation vs Earnings: Johan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Johan Forssell
CEO, President5.67yrskr24.14m0.019%
SEK 91.1m
Helena Saxon
CFO & Member of Management Group5.83yrsno data0.0017%
SEK 8.2m
Christian Cederholm
Co-Head of Patricia Industries4yrsno data0.0054%
SEK 25.7m
Daniel Nodhäll
Head of Listed Companies & Member of the Management Group5.67yrsno data0.0022%
SEK 10.6m
Petra Hedengran
Head of Corporate Governance13.83yrsno data0.0032%
SEK 15.3m
Noah Walley
Co-Head of Patricia Industries & Member of the Extended Management Group4yrsno data0.0049%
SEK 23.5m
Jessica Häggström
Head of Human Resources & Member of Extended Management Board4yrsno data0.00027%
SEK 1.3m
Viveka Hirdman-Ryrberg
Head of Corporate Communication & Sustainability and Member of the Management Group2.33yrsno data0.0012%
SEK 5.6m
Magnus Dalhammar
Head of Investor Relations11.58yrsno datano data
Catharina Thornell
Head of Treasuryno datano datano data
Christer Ahlqvist
Deputy Treasurerno datano datano data

5.7yrs

Average Tenure

50.5yo

Average Age

Experienced Management: INVE A's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Johan Forssell
CEO, President5.67yrskr24.14m0.019%
SEK 91.1m
Marcus Wallenberg
Independent Vice Chairman of the Board6yrskr1.63m0.072%
SEK 345.3m
Thomas Johnstone
Independent Director11yrskr1.61mno data
Jacob Wallenberg
Independent Chairman of the Board15.75yrskr3.46m0.060%
SEK 289.1m
Hans Stråberg
Independent Director9.75yrskr1.52m0.0017%
SEK 8.3m
Lena Torell
Independent Director13.83yrskr1.61m0.00033%
SEK 1.6m
Lars Gunnar Brock
Independent Director11.83yrskr3.30mno data
Grace Skaugen
Independent Director14.75yrskr1.06m0.00029%
SEK 1.4m
Magdalena Gerger
Independent Director6.67yrskr1.50m0.00058%
SEK 2.8m
Sara Mazur
Director2.67yrskr963.00k0.00022%
SEK 1.1m

10.4yrs

Average Tenure

64yo

Average Age

Experienced Board: INVE A's board of directors are seasoned and experienced ( 10.4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: INVE A insiders have bought more shares than they have sold 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

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


Key Information

  • Name: Investor AB (publ)
  • Ticker: INVE A
  • Exchange: OM
  • Founded: 1916
  • Industry: Multi-Sector Holdings
  • Sector: Diversified Financials
  • Market Cap: kr478.788b
  • Shares outstanding: 765.81m
  • Website: https://www.investorab.com

Number of Employees


Location

  • Investor AB (publ)
  • Arsenalsgatan 8C
  • Stockholm
  • Stockholm County
  • 103 32
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IVSX.FOTCPK (Pink Sheets LLC)YesClass A SharesUSUSDJan 1992
INVE AOM (OMX Nordic Exchange Stockholm)YesClass A SharesSESEKJan 1992
IVSADB (Deutsche Boerse AG)YesClass A SharesDEEURJan 1992
0NC5LSE (London Stock Exchange)YesClass A SharesGBSEKJan 1992
INVEASBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBSEKJan 1992
IVSB.FOTCPK (Pink Sheets LLC)Class B SharesUSUSDJan 1992
INVE BOM (OMX Nordic Exchange Stockholm)Class B SharesSESEKJan 1992
IVSBDB (Deutsche Boerse AG)Class B SharesDEEURJan 1992
0NC6LSE (London Stock Exchange)Class B SharesGBSEKJan 1992
INVEBSBATS-CHIXE (BATS 'Chi-X Europe')Class B SharesGBSEKJan 1992

Biography

Investor AB (publ) is a venture capital firm specializing in mature, middle market, buyouts and growth capital investments. It is operating through four business areas including core, private equity, opera...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 20:14
End of Day Share Price2021/01/22 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.