Dustin Group AB (publ)

DUST.ST

Information Technology Services · Technology

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Dustin Group is a Swedish company that sells technology products to businesses and public organizations across the Nordic countries. It acts as a middleman between big tech brands — like Microsoft, Apple, Lenovo, and HP — and customers who need laptops, servers, software, and IT accessories. Dustin is one of the largest IT resellers in the Nordic region, serving both small businesses and large government clients.

Dustin makes money mainly by selling hardware and software, taking a cut of each sale as its margin. It operates primarily in Sweden, Denmark, Norway, Finland, and the Netherlands, generating roughly $2–3 billion in annual revenue. Its competitive position comes from its broad product catalog, established supplier relationships, and ability to bundle products with services like IT support and cloud solutions. The main risk the business faces is its very thin profit margins, which leave little room for error if sales slow down or suppliers raise prices.

Growth Profile

For growth stock investors

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

Revenue Growth

+2.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-869.3% YoY

YoY Growth Rate

Earnings declining

Insider Activity

30.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 1.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

Dustin Group AB (publ) is growing revenue at 3% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

14.4%

Thin — 14.4% gross margin

Profit after running costs

Operating Margin

1.7%

Thin — 1.7% operating margin

Return on the money invested

ROCE

3.5%

Weak — 3.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+4.5%

Slow sales growth (+4.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

3.6%

Thin free cash flow (3.6%)

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

0.52

Conservative — low debt load (0.52)

Covers its interest

Interest Cover

1.64x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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