Kjell Group AB

KJELL.ST

Specialty Retail · Consumer Cyclical

Price

kr 15.10

+0.90 (+6.34%)

Market Cap

kr 1.44B

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+111.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 31.2M (2021) → 65.9M (2025)

Winston Score History

The full picture

Kjell Group is a Nordic retail chain that sells consumer electronics, cables, accessories, and tech gadgets directly to everyday shoppers. Its main brand is Kjell & Company, a well-known store chain across Sweden and Norway with both physical stores and an online shop. The company focuses on practical electronics like phone chargers, headphones, smart home devices, and computer accessories rather than big-ticket items like TVs or laptops.

Kjell Group makes money by selling products directly to consumers, earning a margin on each item sold. It operates primarily in Sweden and Norway, with most of its roughly 170 stores located in Sweden, making it one of the largest specialty electronics accessory retailers in the Nordic region. The negative operating margin signals the company is currently spending more than it earns, and its main challenge is improving profitability while competing against large online retailers like Amazon and general electronics chains that sell similar products at competitive 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

+8.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+63.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

15.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 months

kr 106M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Kjell Group AB has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

1.0%

Thin — 1.0% gross margin

Profit after running costs

Operating Margin

1.0%

Thin — 1.0% operating margin

Return on the money invested

ROCE

-20.0%

Weak — -20.0% 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

-5.6%

Shrinking sales (-5.6% 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

N/A

Data not available

Spare cash per sale

FCF Margin

4.6%

Thin free cash flow (4.6%)

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

0.46

Conservative — low debt load (0.46)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

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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