olivLaw · European equity research
Knowit Aktiebolag (publ) KNOW.ST
Sweden · Nasdaq Stockholm · ISIN SE0000421273 · Vertical: Listed companies from Sweden
Knowit is a digital consultancy operating in Sweden, Norway, Finland, Poland, Denmark, Serbia and Germany, organised into four business areas. In 2025 revenue declined amid a weak market and price pressure, and the company booked a significant goodwill impairment, which makes its ability to recover worth assessing. Net sales reached 5 798,0 MSEK, down 9,6 percent.
At the close of 05 Nov 2026, Knowit Aktiebolag (publ) (KNOW.ST) stock was 118.40 SEK (−1.50% on the day), with market capitalisation 3.2 bn SEK, dividend yield 2.13%, beta 0.58, 52-week range 77.20–130.40 SEK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 66.8
- strong (55–70)
- Bollinger (20, 2)
- 88.85 – 128.78
- in the upper half of the band · %B 0.74 · band width 36.7%
- SMA 50 / 200
- 100.04 / 98.24
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 6.43 / 5.62
- MACD above 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 | +28.1% | −0.6% | +28.8 pp | — |
| 3 months | +26.2% | −4.2% | +30.4 pp | — |
| 6 months | +45.3% | +4.3% | +40.9 pp | — |
| Year to date | +0.3% | +7.5% | −7.2 pp | — |
| 1 year | +3.0% | +9.9% | −7.0 pp | −8.3% |
| 3 years | −20.6% | +49.8% | −70.5 pp | +12.0% |
| 5 years | −69.0% | +42.8% | −111.8 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 | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 239.6 m | 106.1 m | -284.9 m |
| Net income YoY | unavailable | −55.7% | −368.5% |
| Diluted EPS | 8.74 | 3.88 | -10.43 |
| Diluted EPS YoY | unavailable | −55.6% | −368.8% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | 365.0 m | 606.9 m | 312.9 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 325.7 m SEK
- Financial debt
- unavailable SEK
- Net debt
- unavailable SEK
- Equity
- 3.6 bn SEK
- Total assets
- 6.0 bn SEK
- Debt / equity
- unavailable
- Current ratio
- 1.12x
- ROE
- -7.3%
- ROA
- -4.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (SEK)
Income statement · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating income | 309.8 m | 199.9 m | -213.3 m | esef· 26 Oct 2026verified |
| Interest expense | 81.7 m | 59.3 m | 45.9 m | esef· 26 Oct 2026verified |
| Pre-tax income | 304.1 m | 153.2 m | -247.1 m | esef· 26 Oct 2026verified |
| Income tax | 62.3 m | 42.7 m | 35.0 m | esef· 26 Oct 2026verified |
| Net income | 239.6 m | 106.1 m | -284.9 m | esef· 26 Oct 2026verified |
| Diluted EPS | 8.74 | 3.88 | -10.43 | esef· 26 Oct 2026verified |
| Dividend per share | 5.20 | 5.62 | 2.52 | esef· 26 Oct 2026derived |
Balance sheet · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 127.6 m | 397.8 m | 325.7 m | esef· 26 Oct 2026verified |
| Receivables | 1.7 bn | 1.4 bn | 1.4 bn | esef· 26 Oct 2026verified |
| Current assets | 1.9 bn | 1.8 bn | 1.7 bn | esef· 26 Oct 2026verified |
| Property, plant & equipment, net | 83.7 m | 74.2 m | 53.4 m | esef· 26 Oct 2026verified |
| Goodwill | 3.7 bn | 3.8 bn | 3.3 bn | esef· 26 Oct 2026verified |
| Total assets | 7.0 bn | 6.8 bn | 6.0 bn | esef· 26 Oct 2026verified |
| Current liabilities | 1.7 bn | 1.6 bn | 1.5 bn | esef· 26 Oct 2026verified |
| Equity | 4.2 bn | 4.1 bn | 3.6 bn | esef· 26 Oct 2026verified |
| Shares outstanding at year end | 27.4 m | 27.3 m | 27.3 m | esef· 26 Oct 2026derived |
Cash flow · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 399.8 m | 626.2 m | 321.5 m | esef· 26 Oct 2026verified |
| Capex | 34.8 m | 19.3 m | 8.6 m | esef· 26 Oct 2026verified |
| Free cash flow | 365.0 m ≈ | 606.9 m ≈ | 312.9 m ≈ | esef· 26 Oct 2026derived |
| Investing cash flow | -207.5 m | -40.2 m | 48.7 m | esef· 26 Oct 2026verified |
| Financing cash flow | -575.7 m | -328.0 m | -386.4 m | esef· 26 Oct 2026verified |
| Dividends paid | 217.8 m | 153.7 m | 69.0 m | esef· 26 Oct 2026verified |
| Share repurchases | 8.8 m | 6.1 m | 0 | 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: 29.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 3.2 bn SEK
Key indicators
Coverage and freshness
Score by group
29% · 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: 29.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| 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 | -4.6x | 0 (on a fixed band) | 21% |
| Current ratio · Balance sheet | 1.1x | 26 (on a fixed band) | 14% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.7% | 100 (on a fixed band) | 29% |
| Shareholder yield (distributions) · Returns | 2.1% | 30 (on a fixed band) | 21% |
| Payout ratio (FCF) · Returns | 22.0% | 100 (on a fixed band) | 14% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet11/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns58/100 · 2/2 factors with a value
- Valuation· partial100/100 · 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
Knowit Aktiebolag (publ) (KNOW.ST). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: ROE -7.3%.
The estimated value range is 24.77–30.59 SEK per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 27.37 SEK, the price of 118.40 SEK leaves a potential of -76.9% (value / price − 1) and a margin of safety of -332.6% (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: 29.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF yield: 9.7%
- Payout ratio (FCF): 22.0%
What contradicts it
- Interest coverage: -4.6x
- Current ratio: 1.1x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA.
Versus the vertical median
Listed companies from Sweden · same country · compared with 40 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALFA.STAlfa Laval AB | 223.0 bn | 27.0 | 19.4% | 11.9% | +4.1% | +21% / +38% |
| BOL.STBoliden Ab | 143.0 bn | 15.2 | 13.3% | 10.1% | +4.8% | +12% / +81% |
| CAST.STCastellum Aktiebolag | 66.6 bn | 71.0 | 1.2% | 9.8% | −2.6% | +27% / +6% |
| AAK.STAak Ab (publ) | 47.5 bn | 13.9 | 17.2% | 7.5% | +2.2% | −31% / −14% |
| CAMX.STCamurus AB | 42.5 bn | 58.5 | 19.5% | 32.5% | +21.3% | +16% / +55% |
| BRAV.STBravida Holding AB | 30.1 bn | 24.5 | 13.7% | 4.4% | −4.9% | +84% / +123% |
| ASKER.STAsker Healthcare Group AB | 29.8 bn | 60.5 | 9.8% | 2.9% | +11.7% | −18% / unavailable |
| ALLEI.STAlleima AB | 22.7 bn | 33.8 | 4.1% | 3.6% | −5.4% | +11% / +19% |
| BURE.STBure Equity AB | 22.6 bn | — | -21.0% | — | unavailable | +20% / +19% |
| AQ.STAQ Group AB | 19.7 bn | 29.2 | 14.9% | 7.5% | +6.0% | +14% / +119% |
| ALTRA.STAltra Fastigheter AB | 18.4 bn | 33.9 | 3.0% | 15.1% | −2.2% | +9% / +19% |
| ATT.STAttendo AB (publ) | 16.8 bn | 20.7 | 15.1% | 4.3% | +0.1% | +34% / +223% |
| AFRY.STAfry Ab | 14.9 bn | 18.7 | 6.2% | 3.1% | −5.2% | −17% / +4% |
| ATRLJ-B.STAtrium Ljungberg AB | 14.0 bn | 17.1 | 2.9% | 23.9% | −2.0% | −33% / −44% |
| ALIG.STAlimak Group AB (publ) | 12.7 bn | 21.3 | 8.2% | 8.8% | −3.2% | −18% / +50% |
| ACAD.STAcadeMedia AB | 12.7 bn | 15.5 | 12.7% | 4.3% | +9.7% | +22% / +138% |
| APOTEA.STApotea AB (publ) | 10.7 bn | 46.8 | 31.3% | 3.2% | +10.1% | +15% / unavailable |
| BOOZT.STBoozt AB | 10.6 bn | 37.9 | 10.4% | 3.6% | +0.5% | +58% / +44% |
| BUFAB.STBufab AB (publ) | 5.0 bn | 9.2 | 15.1% | 6.9% | −7.4% | +36% / +110% |
| ACTI.STActive Biotech AB (publ) | 4.9 bn | — | -84.5% | — | unavailable | −32% / −77% |
| CEVI.STCellaVision AB | 4.7 bn | 30.8 | 18.0% | 20.2% | +4.9% | +20% / +12% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.2 | 13.0% | 2.2% | +16.7% | +1% / +25% |
| BHG.STBHG Group AB | 4.5 bn | 31.1 | 2.5% | 1.4% | +6.2% | −18% / +113% |
| CARA.STCarasent AB (publ) | 1.8 bn | 51.7 | 4.1% | 10.1% | +24.9% | −8% / +87% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +16% / −51% |
1- and 3-year price returns: for KNOW.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
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Knowit is a digital consultancy operating in Sweden, Norway, Finland, Poland, Denmark, Serbia and Germany, organised into four business areas. In 2025 revenue declined amid a weak market and price pressure, and the company booked a significant goodwill impairment, which makes its ability to recover worth assessing. Net sales reached 5 798,0 MSEK, down 9,6 percent 1.
SWOT
Strengths
- A strong brand, which management considers one of its most important assets, associated with specialist expertise and client satisfaction 1.
- A decentralised structure that lets subsidiaries act quickly and respond to local demand 1.
- Geographic and client diversification, with no dependence on any single major client 1.
Weaknesses
- Revenue and profitability declined in 2025, and the net result was negative because of the goodwill impairment 1.
- Goodwill makes up a very large share of the balance sheet, making the company sensitive to market changes 1.
- The Insight business area and parts of Experience have shown low margins and uneven demand 1.
Opportunities
Risks
- Goodwill impairmenthigh
The company impaired goodwill linked to the Connectivity business area due to lower expected future cash flows. If the market stays difficult, further impairments could arise 1.
- Cyber and information riskshigh
Dependence on IT systems and cloud services raises the risk of attacks, data leaks or service interruptions 1.
- Competition and price pressuremedium
A fragmented market can lead to lost market share or price cuts, affecting profitability 1.
- Client concentrationmedium
The ten largest clients represent a significant share of revenue. Losing one of them could affect results if not offset 1.
- Acquisition integration risklow
Recent and future acquisitions may bring operational difficulties, unexpected costs or synergies that do not materialise 1.
Investment thesis
What would need to be true (bull case)
- If demand for digitalisation recovers, the company could benefit from a diversified client base and a decentralised structure able to respond quickly 1.
- Better utilisation and cost control could lead to stronger margins, particularly in Solutions 1.
- The brand and specialist skills could help win new projects in high-demand areas such as cybersecurity 1.
What would break the thesis
What to watch
- Revenue and EBITA margin trends by business areaQ1 2026
- Utilisation and demand trends in Solutions and Experience2026
- Any further goodwill impairmentsnext annual report
- Long-term growth target through organic growth and acquisitions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Knowit describes itself as a digitalisation consultancy and a developer of future digital business models. Services include systems development and management, communication solutions for web and marketing, Internet of Things and strategic advisory 1. The group runs through about 60 subsidiaries with a decentralised model, while the parent company handles shared functions such as consolidation, financing, IR and HR 1.
The stated strategy combines technology, design, communication and management consulting skills, and cooperation between business areas is cited as a success factor 1. In 2025 the company acquired Milso AB and Insicon AB and divested its Danish subsidiary Knowit Consulting Services A/S, in line with a focus on core activities 1.
Segments
Solutions
The largest business area, with net sales of 3 101,3 MSEK in 2025, down from the prior year. The EBITA margin rose to 8,9 percent as utilisation improved 1.
Experience
The digital communication and experience services area, with net sales of 1 052,9 MSEK in 2025. Demand was weak in several segments and the margin stayed under pressure at 4,5 percent 1.
Market context
The company describes a cautious and competitive market, with weak demand in several segments, pressure on prices and more prudent investment decisions by clients 1. Demand for digitalisation, data and artificial intelligence is seen as structurally strong, and management says it could benefit if the market recovers 1.
The IT consulting market is fragmented, which makes it highly competitive. Short technology life cycles and price pressure can affect margins, especially when clients choose projects with shorter decision horizons 1.
Trends
- Weak demand and price pressureheadwind
Demand remained subdued in several segments, reducing revenue and margins. The company says such conditions could continue to weigh on results 1.
- Digitalisation, data and artificial intelligencetailwind
The need for digital transformation in both public and private sectors remains high, which could support demand over the long term 1.
- Cybersecurity and defencemixed
Demand for cybersecurity and some defence-related services grew, while other offerings stayed weak 1.
- Operational stabilisationmixed
Better utilisation and cost control helped stabilise the business towards year end, although the trend is not yet considered certain 1.
Competitive position
The digital consulting market is fragmented and includes many IT service providers, communication agencies and management consultancies. The company identifies competition as a permanent risk that can lead to lost market share or lower prices 1.
Knowit seeks to differentiate through its brand, geographic expansion in Finland, Denmark and Poland, and an integrated offer across business areas 1. Cost efficiency is another differentiator it cites 1.
- Nordic IT service providers
Regional competitors active in the same Scandinavian markets; no ticker identified in the source.
- Technology consulting firms
Competitors offering similar digitalisation and systems services, cited as part of the fragmented market.
- Communication and digital marketing agencies
Competitors in communication and digital experience services, where the company reported price pressure.
- Management consultancies
Competitors in strategic advisory, a segment the company wants to expand in.
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
- Annual report 202426 Oct 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Knowit Aktiebolag (publ) · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.