olivLaw · European equity research
Balco Group AB BALCO.ST
Sweden · Nasdaq Stockholm · ISIN SE0010323998 · Vertical: Listed companies from Sweden
At the close of 06 Nov 2026, Balco Group AB (BALCO.ST) stock was 13.35 SEK (−2.55% on the day), with market capitalisation 308.2 m SEK, beta 0.34, 52-week range 13.35–18.90 SEK.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 28.2
- oversold (≤ 30)
- Bollinger (20, 2)
- 12.82 – 16.24
- in the lower half of the band · %B 0.16 · band width 23.5%
- SMA 50 / 200
- 16.11 / 15.45
- mixed trend
- MACD (12, 26, 9)
- -0.74 / -0.68
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −17.8% | −0.6% | −17.2 pp | — |
| 3 months | −10.7% | −4.2% | −6.5 pp | — |
| 6 months | −12.5% | +4.3% | −16.8 pp | — |
| Year to date | −22.8% | +7.5% | −30.3 pp | — |
| 1 year | −25.4% | +9.9% | −35.3 pp | −6.0% |
| 3 years | −66.2% | +49.8% | −116.0 pp | +12.3% |
| 5 years | −89.0% | +42.8% | −131.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | 1.4 bn | 1.3 bn |
| Revenue YoY | unavailable | unavailable | −8.7% |
| Net income | 45.9 m | 1.1 m | -35.8 m |
| Net income YoY | unavailable | −97.7% | −3,475.6% |
| Diluted EPS | 2.12 | 0.05 | -1.55 |
| Diluted EPS YoY | unavailable | −97.6% | −3,200.0% |
| net % | unavailable | 0.1% | -2.8% |
| Free cash flow | -33.9 m | 78.5 m | 10.8 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 158.1 m SEK
- Financial debt
- 475.0 m SEK
- Net debt
- 317.0 m SEK
- Equity
- 736.1 m SEK
- Total assets
- 1.7 bn SEK
- Debt / equity
- 0.65x
- Current ratio
- 1.58x
- ROE
- -4.7%
- ROA
- -2.1%
- FCF margin
- 0.8%
Financial statements (source on every figure)
Revenue and net income (SEK)
Margins
Income statement · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | — | 1.4 bn | 1.3 bn | esef· 26 Oct 2026verified |
| Cost of revenue | 969.5 m | 1.2 bn | 1.1 bn | esef· 26 Oct 2026verified |
| Gross profit | 245.4 m | 248.0 m | 159.4 m | esef· 26 Oct 2026verified |
| Operating income | 70.4 m | 34.8 m | -18.7 m | esef· 26 Oct 2026verified |
| Interest expense | 18.1 m | 34.3 m | 33.5 m | esef· 26 Oct 2026verified |
| Pre-tax income | 56.0 m | 5.0 m | -47.5 m | esef· 26 Oct 2026verified |
| Income tax | 9.5 m | 396.0 k | -12.5 m | esef· 26 Oct 2026verified |
| Net income | 45.9 m | 1.1 m | -35.8 m | esef· 26 Oct 2026verified |
| Diluted EPS | 2.12 | 0.05 | -1.55 | esef· 26 Oct 2026verified |
| Weighted average diluted shares | 21.9 m | 23.0 m | 23.0 m | esef· 26 Oct 2026verified |
Balance sheet · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.8 m | 103.1 m | 158.1 m | esef· 26 Oct 2026verified |
| Current assets | 407.2 m | 529.1 m | 628.9 m | esef· 26 Oct 2026verified |
| Property, plant & equipment, net | 232.4 m | 290.4 m | — | esef· 08 May 2025verified |
| Goodwill | 485.2 m | 515.5 m | 527.9 m | esef· 26 Oct 2026verified |
| Total assets | 1.3 bn | 1.6 bn | 1.7 bn | esef· 26 Oct 2026verified |
| Long-term debt | 174.2 m | 362.9 m | 475.0 m | esef· 26 Oct 2026verified |
| Current liabilities | 250.7 m | 320.9 m | 396.9 m | esef· 26 Oct 2026verified |
| Equity | 739.8 m | 792.9 m | 736.1 m | esef· 26 Oct 2026verified |
| Shares outstanding at year end | 21.6 m | 21.2 m | 23.1 m | esef· 26 Oct 2026derived |
Cash flow · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -26.1 m | 85.3 m | 15.0 m | esef· 26 Oct 2026verified |
| Capex | 7.7 m | 6.8 m | 4.2 m | esef· 26 Oct 2026verified |
| Free cash flow | -33.9 m ≈ | 78.5 m ≈ | 10.8 m ≈ | esef· 26 Oct 2026derived |
| Investing cash flow | -52.9 m | -95.7 m | -49.1 m | esef· 26 Oct 2026verified |
| Financing cash flow | 29.6 m | 113.1 m | 90.8 m | esef· 26 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 308.2 m SEK
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -1.5% | 13 (vs peers) | 29% |
| Net margin · Quality | -2.8% | 14 (vs peers) | 18% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -0.6x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 1.6x | 65 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.5% | 44 (on a fixed band) | 24% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet26/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality13/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial44/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Balco Group AB (BALCO.ST). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.3 bn SEK in 2025; YoY growth -8.7%; net margin -2.8%; ROE -4.7%.
The estimated value range is 5.81–17.62 SEK per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 10.25 SEK, the price of 13.35 SEK leaves a potential of -23.2% (value / price − 1) and a margin of safety of -30.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -1.5%
- Net margin: -2.8%
- Interest coverage: -0.6x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Sweden · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALFA.STAlfa Laval AB | 219.9 bn | 26.6 | 19.4% | 11.9% | +4.1% | +19% / +36% |
| BOL.STBoliden Ab | 141.8 bn | 15.1 | 13.3% | 10.1% | +4.8% | +11% / +80% |
| CAST.STCastellum Aktiebolag | 66.4 bn | 70.8 | 1.2% | 9.8% | −2.6% | +26% / +6% |
| AAK.STAak Ab (publ) | 47.4 bn | 13.9 | 17.2% | 7.5% | +2.2% | −31% / −14% |
| CAMX.STCamurus AB | 43.3 bn | 59.6 | 19.5% | 32.5% | +21.3% | +18% / +58% |
| ASKER.STAsker Healthcare Group AB | 30.0 bn | 60.9 | 9.8% | 2.9% | +11.7% | −17% / unavailable |
| BRAV.STBravida Holding AB | 29.3 bn | 23.8 | 13.7% | 4.4% | −4.9% | +79% / +118% |
| ALLEI.STAlleima AB | 22.7 bn | 33.9 | 4.1% | 3.6% | −5.4% | +11% / +20% |
| BURE.STBure Equity AB | 22.5 bn | — | -21.0% | — | unavailable | +19% / +19% |
| AQ.STAQ Group AB | 19.9 bn | 29.5 | 14.9% | 7.5% | +6.0% | +15% / +121% |
| ATT.STAttendo AB (publ) | 19.5 bn | 24.1 | 15.1% | 4.3% | +0.1% | +55% / +276% |
| ALTRA.STAltra Fastigheter AB | 18.4 bn | 33.9 | 3.0% | 15.1% | −2.2% | +9% / +19% |
| AFRY.STAfry Ab | 14.7 bn | 18.3 | 6.2% | 3.1% | −5.2% | −18% / +2% |
| ATRLJ-B.STAtrium Ljungberg AB | 13.9 bn | 16.9 | 2.9% | 23.9% | −2.0% | −34% / −45% |
| ALIG.STAlimak Group AB (publ) | 12.7 bn | 21.2 | 8.2% | 8.8% | −3.2% | −18% / +50% |
| ACAD.STAcadeMedia AB | 12.6 bn | 15.3 | 12.7% | 4.3% | +9.7% | +21% / +136% |
| APOTEA.STApotea AB (publ) | 10.8 bn | 47.4 | 31.3% | 3.2% | +10.1% | +16% / unavailable |
| BOOZT.STBoozt AB | 10.6 bn | 37.9 | 10.4% | 3.6% | +0.5% | +57% / +44% |
| BUFAB.STBufab AB (publ) | 5.0 bn | 9.0 | 15.1% | 6.9% | −7.4% | +34% / +107% |
| CEVI.STCellaVision AB | 4.7 bn | 31.0 | 18.0% | 20.2% | +4.9% | +21% / +12% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.1 | 13.0% | 2.2% | +16.7% | +1% / +24% |
| ACTI.STActive Biotech AB (publ) | 4.5 bn | — | -84.5% | — | unavailable | −38% / −79% |
| BHG.STBHG Group AB | 4.4 bn | 30.4 | 2.5% | 1.4% | +6.2% | −20% / +108% |
| CARA.STCarasent AB (publ) | 1.8 bn | 51.2 | 4.1% | 10.1% | +24.9% | −9% / +86% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +15% / −52% |
1- and 3-year price returns: for BALCO.ST from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (SEK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202526 Oct 2026
- Annual report 202408 May 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.