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Svedbergs i Dalstorp AB (publ)

SVED-B.ST
60
Furnishings, Fixtures & Appliances · Consumer Cyclical
Price
kr 59.00
+0.60 (+1.03%)
Market Cap
kr 3.15B
Exchange
Stockholm Stock Exchange
Winston Score
60
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
Mixed
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Strong

Share count rising — dilution

+79.8% over 4y

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

Diluted shares outstanding: 29.5M (2021) → 53.0M (2025)

Winston Score History

The full picture

Svedbergs i Dalstorp is a Swedish company that designs and sells bathroom furniture, shower enclosures, and bathroom accessories. Its products are sold to homeowners and housing developers, mainly through retailers, kitchen and bathroom specialists, and construction companies. The company is one of the leading bathroom interior brands in the Nordic region.

Svedbergs makes money by selling physical products — cabinets, mirrors, shower solutions, and related fittings — through retail and wholesale channels. It operates primarily in Sweden and the broader Nordic market, with some export activity into Europe. The company's competitive position rests on its established brand recognition, domestic manufacturing heritage, and long-standing retailer relationships built over decades. The main risk the business faces is exposure to the housing and renovation cycle — when new construction slows or consumers cut back on home improvement spending, demand for bathroom products tends to fall alongside it.

Growth Profile

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

Revenue Growth

+3.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-19.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

kr 28M/ year

Declining (-9% vs prior year)

1.2% of revenue

Below sector average (4%)

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

Insider Activity

45.7%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 195M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Svedbergs i Dalstorp AB (publ) is growing revenue at 4% 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
47.7%
Healthy — 47.7% gross margin
Profit after running costs
Operating Margin
11.6%
Modest — 11.6% operating margin
Return on the money invested
ROCE
10.8%
Below par — 10.8% 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
+2.0%
Nearly flat sales (+2.0% YoY)
Profit growth
EPS YoY
+17.5%
Earnings growing fast (+17.5% YoY)

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

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
136%
Turns 136% of profit into real cash
Spare cash per sale
FCF Margin
10.3%
Modest free cash flow (10.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.77
Moderate — manageable debt (0.77)
Covers its interest
Interest Cover
8.08x
Comfortably covers interest (8.1x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
14.6x
Attractive valuation — P/E 14.6

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
+0.2
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
3.39%
Moderate income — 3.39% yield

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

Dividend record
Dividend Growth
+40.0%
Dividend growing fast (40.0% YoY)

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