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Kinnevik AB

KINV-A.ST
Financial - Conglomerates · Financial Services
Also trades as: 0RH1.L
Exchange
Stockholm Stock Exchange
Winston Score
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Winston Score History

The full picture

Kinnevik AB is a Swedish investment company that owns stakes in other businesses rather than selling products itself. It focuses on technology-driven companies in sectors like healthcare, financial services, and consumer internet. Some of its well-known holdings have included companies like Zalando, Babylon Health, and Budbee, and it targets businesses that are disrupting traditional industries across Europe and beyond.

Kinnevik makes money when the value of its portfolio companies rises, and it earns returns by selling stakes over time — a model called private and growth equity investing. It is headquartered in Stockholm and is one of Sweden's oldest and most prominent investment firms, giving it strong deal access and a long track record of backing early-stage European tech companies. The main risk is that many of its portfolio companies are unprofitable growth businesses, meaning a downturn in investor appetite for high-growth tech can sharply reduce the value of its holdings.

Growth Profile

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

Revenue Growth

+163.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+174.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

78.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

kr 31.6B cash & investments at current burn rate

Revenue accelerating

Kinnevik AB grew revenue 164% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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
98.6%
Premium pricing power — 98.6% gross margin
Profit after running costs
Operating Margin
98.6%
Excellent — 98.6% operating margin
Return on the money invested
ROCE
-25.9%
Weak — -25.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
N/A
Data not available

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Stability

What it owes vs what it owns
Debt / Equity
0.07
Conservative — low debt load (0.07)
Covers its interest
Interest Cover
N/A
Data not available

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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

Dividend
Dividend Yield
6.35%
no trend
Healthy income — 6.35% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-26.6%
no trend
Dividend cut (-26.6% YoY) — warning sign

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