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Bravida Holding AB (publ)

BRAV.ST
53
Engineering & Construction · Industrials
Price
kr 135.30
+2.90 (+2.19%)
Market Cap
kr 27.59B
Exchange
Stockholm Stock Exchange
Winston Score
53
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Strong
Cash Flow
Good
Stability
Exceptional
Valuation
Strong
Dividends
Strong

Winston Score History

The full picture

Bravida Holding AB is a Swedish company that installs and maintains technical systems inside buildings. This includes electrical wiring, heating, ventilation, air conditioning, and plumbing. Its customers are mainly property owners, construction companies, and public sector organizations across the Nordic countries.

Bravida earns money by charging for both installation work on new buildings and ongoing service and maintenance contracts on existing ones. It operates primarily in Sweden, Norway, Denmark, and Finland, making it one of the largest technical installation and service companies in the Nordic region. The service and maintenance side of the business provides recurring revenue, which gives Bravida more stable income than pure construction companies. The main growth driver is rising demand for energy-efficient building upgrades and electrification across the Nordics, though the business faces risk from slowdowns in new construction activity, which can reduce installation volumes and pressure margins.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+60.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.2%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 764M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Bravida Holding AB (publ) is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 203.3M (2021) → 204.8M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
14.9%
Thin — 14.9% gross margin
Profit after running costs
Operating Margin
5.4%
Thin — 5.4% operating margin
Return on the money invested
ROCE
13.3%
Good — 13.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+1.7%
Nearly flat sales (+1.7% YoY)
Profit growth
EPS YoY
+26.1%
Earnings growing fast (+26.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
107%
Turns 107% of profit into real cash
Spare cash per sale
FCF Margin
1.2%
Thin free cash flow (1.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.41
Conservative — low debt load (0.41)
Covers its interest
Interest Cover
17.04x
Comfortably covers interest (17.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
19.7x
Fair value — P/E 19.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+4.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (19.7 → 15.6)

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Dividends

Dividend
Dividend Yield
2.92%
Moderate income — 2.92% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+46.7%
Dividend growing fast (46.7% YoY)

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