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Husqvarna AB (publ)

HUSQ-B.ST
52
Manufacturing - Tools & Accessories · Industrials
Exchange
Stockholm Stock Exchange
Winston Score
52
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
Mixed
Cash Flow
Strong
Stability
Good
Valuation
Strong
Dividends
Mixed

Winston Score History

The full picture

Husqvarna is a Swedish company that makes outdoor power tools and equipment. Its main products include robotic lawn mowers, chainsaws, riding mowers, and handheld garden tools sold under the Husqvarna and Gardena brand names. It sells to homeowners, professional landscapers, and forestry workers, and is one of the largest outdoor power equipment makers in the world.

The company earns money by selling hardware through retailers, dealers, and its own channels across Europe, North America, and the rest of the world. Its competitive position comes from strong brand recognition, a wide dealer network, and its early lead in robotic mowing technology. The shift toward battery-powered equipment is both a key growth opportunity and a risk, since it requires heavy investment in new products while competitors like Deere and Techtronic Industries are pushing hard into the same space.

Score breakdown

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Quality

Profit per sale
Gross Margin
34.8%
Modest — 34.8% gross margin
Profit after running costs
Operating Margin
14.0%
Healthy — 14.0% operating margin
Return on the money invested
ROCE
8.1%
Below par — 8.1% 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
-6.7%
Shrinking sales (-6.7% YoY)
Profit growth
EPS YoY
+11.3%
Earnings growing (+11.3% YoY)

Healthy double-digit earnings growth — what compounders look like.

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
287%
Turns 287% of profit into real cash
Spare cash per sale
FCF Margin
4.7%
Thin free cash flow (4.7%)

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
0.46
Conservative — low debt load (0.46)
Covers its interest
Interest Cover
3.99x
Tight — interest eats into profit (4.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
14.9x
no trend
Attractive valuation — P/E 14.9

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
+4.8
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (14.9 → 10.1)

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Dividends

Dividend
Dividend Yield
3.98%
no trend
Moderate income — 3.98% yield

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

Dividend record
Dividend Growth
-62.5%
no trend
Dividend cut (-62.5% YoY) — warning sign

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