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Bure Equity AB (publ)

BURE.ST
59
Asset Management · Financial Services
Price
kr 298.60
+9.00 (+3.11%)
Market Cap
kr 22.25B
Exchange
Stockholm Stock Exchange
Winston Score
59
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Exceptional
Growth
Weak
Cash Flow
Weak
Stability
Exceptional
Valuation
Good
Dividends
Good

Winston Score History

The full picture

Bure Equity is a Swedish investment company that buys and holds ownership stakes in other businesses. It focuses mainly on companies in education, healthcare, and financial services. Bure is listed on the Stockholm Stock Exchange and has been operating in Sweden for decades.

Bure makes money primarily through the rising value of its portfolio companies and through dividends those companies pay out. Most of its investments are in Swedish and Nordic businesses, making it heavily tied to the economic conditions of that region. Its competitive edge comes from taking active ownership roles — meaning it helps run and improve the companies it invests in, rather than just holding shares passively. The main risk Bure faces is that its reported earnings can swing wildly depending on how its portfolio companies are valued at any given time, which explains the unusual operating margin figures and negative returns on capital in certain periods.

Growth Profile

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

Revenue Growth

+5.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+707.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

29.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 29.6B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Bure Equity AB (publ) is growing revenue at 6% 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

0.1% over 4y

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

Diluted shares outstanding: 74.1M (2021) → 74.1M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
95.6%
Premium pricing power — 95.6% gross margin
Profit after running costs
Operating Margin
3688.8%
Excellent — 3688.8% operating margin
Return on the money invested
ROCE
19.8%
Strong — 19.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-10.8%
Shrinking sales (-10.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
12%
Weak — only 12% of profit becomes cash
Spare cash per sale
FCF Margin
-101.2%
Burning cash (-101.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
1005.00x
Comfortably covers interest (1005.0x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
4.4x
Attractive valuation — P/E 4.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.01%
Small dividend — 1.01% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+41.4%
Dividend growing fast (41.4% YoY)

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