olivLaw · European equity research
RVRC Holding AB RVRC.ST
Sweden · Nasdaq Stockholm · ISIN SE0015962485 · Vertical: Listed companies from Sweden
RVRC Holding AB, which owns the outdoor brand RevolutionRace, targets annual growth of 20 percent and an adjusted EBIT margin of 20 percent through fiscal 2026/2027, against net sales of 1 925 MSEK in fiscal 2024/25. The company emphasises durable products and preferred materials, which make up 90 percent of its textiles.
At the close of 05 Nov 2026, RVRC Holding AB (RVRC.ST) stock was 55.05 SEK (−0.45% on the day), with market capitalisation 5.9 bn SEK, P/E 17.8 on diluted EPS of 3.09 SEK over the last 12 months, dividend yield 2.45%, beta 0.74, 52-week range 49.00–70.95 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)
- 63.0
- strong (55–70)
- Bollinger (20, 2)
- 51.41 – 55.53
- in the upper half of the band · %B 0.88 · band width 7.7%
- SMA 50 / 200
- 52.54 / 59.38
- mixed trend
- MACD (12, 26, 9)
- 0.68 / 0.50
- 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 | +5.7% | −0.6% | +6.3 pp | — |
| 3 months | −11.0% | −4.2% | −6.8 pp | — |
| 6 months | −1.0% | +4.3% | −5.3 pp | — |
| Year to date | −17.5% | +7.5% | −25.0 pp | — |
| 1 year | −12.7% | +9.9% | −22.6 pp | −8.3% |
| 3 years | +45.1% | +49.8% | −4.7 pp | +12.0% |
| 5 years | −30.3% | +42.8% | −73.1 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.
Today's P/E sits at the 75 percentile of its own 4-quarter history (min 15.5, median 17.0, max 18.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable |
| Net income | 243.0 m | 308.0 m | 283.0 m | 334.0 m |
| Net income YoY | unavailable | +26.7% | −8.1% | +18.0% |
| Diluted EPS | 2.15 | 2.72 | 2.55 | 3.09 |
| Diluted EPS YoY | unavailable | +26.5% | −6.3% | +21.2% |
| net % | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | 185.0 m | 348.0 m | 217.0 m | 432.0 m |
Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 328.0 m SEK
- Financial debt
- unavailable SEK
- Net debt
- unavailable SEK
- Equity
- 1.3 bn SEK
- Total assets
- 1.7 bn SEK
- Debt / equity
- unavailable
- Current ratio
- 2.20x
- ROE
- 26.8%
- ROA
- 20.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (SEK)
Income statement · SEK
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Operating income | 310.0 m | 386.0 m | 357.0 m | 422.0 m | esef· 28 Oct 2026verified |
| Depreciation & amortisation | 7.0 m | 9.0 m | 9.0 m | 11.0 m | esef· 28 Oct 2026verified |
| EBITDA | 317.0 m ≈ | 395.0 m ≈ | 366.0 m ≈ | 433.0 m ≈ | esef· 28 Oct 2026derived |
| Interest expense | 5.0 m | 4.0 m | 4.0 m | 4.0 m | esef· 28 Oct 2026verified |
| Pre-tax income | 306.0 m | 389.0 m | 357.0 m | 422.0 m | esef· 28 Oct 2026verified |
| Income tax | 63.0 m | 81.0 m | 74.0 m | 88.0 m | esef· 28 Oct 2026verified |
| Net income | 243.0 m | 308.0 m | 283.0 m | 334.0 m | esef· 28 Oct 2026verified |
| Diluted EPS | 2.15 | 2.72 | 2.55 | 3.09 | esef· 28 Oct 2026verified |
| Dividend per share | 0.77 | 0.86 | 1.20 | 1.35 | esef· 28 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · SEK
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 154.0 m | 295.0 m | 189.0 m | 328.0 m | esef· 28 Oct 2026verified |
| Inventories | 403.0 m | 448.0 m | 521.0 m | 520.0 m | esef· 28 Oct 2026verified |
| Current assets | 621.0 m | 800.0 m | 744.0 m | 903.0 m | esef· 28 Oct 2026verified |
| Goodwill | 617.0 m | 617.0 m | 617.0 m | 617.0 m | esef· 28 Oct 2026verified |
| Total assets | 1.4 bn | 1.6 bn | 1.6 bn | 1.7 bn | esef· 28 Oct 2026verified |
| Current liabilities | 253.0 m | 322.0 m | 299.0 m | 410.0 m | esef· 28 Oct 2026verified |
| Equity | 1.1 bn | 1.3 bn | 1.2 bn | 1.3 bn | esef· 28 Oct 2026verified |
| Shares outstanding at year end | 113.0 m | 112.8 m | 111.0 m | 107.7 m | esef· 28 Oct 2026derived |
Cash flow · SEK
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 188.0 m | 349.0 m | 219.0 m | 435.0 m | esef· 28 Oct 2026verified |
| Capex | 3.0 m | 1.0 m | 2.0 m | 3.0 m | esef· 28 Oct 2026verified |
| Free cash flow | 185.0 m ≈ | 348.0 m ≈ | 217.0 m ≈ | 432.0 m ≈ | esef· 28 Oct 2026derived |
| Investing cash flow | -6.0 m | -10.0 m | -3.0 m | -5.0 m | esef· 28 Oct 2026verified |
| Financing cash flow | -102.0 m | -198.0 m | -321.0 m | -292.0 m | esef· 28 Oct 2026verified |
| Dividends paid | 87.0 m | 97.0 m | 132.0 m | 143.0 m | esef· 28 Oct 2026verified |
| Share repurchases | 0 | 98.0 m | 205.0 m | 201.0 m | esef· 28 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
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 5.9 bn SEK
Key indicators
Coverage and freshness
Score by group
54% · 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: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | 129.3% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | 12.9% | 86 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 105.5x | 100 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 2.2x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 17.8x | 69 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 7.3% | 91 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 5.8% | 83 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 33.1% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth· partial86/100 · 1/2 factors with a value
- Quality· partial100/100 · 1/3 factors with a value
- Returns90/100 · 2/2 factors with a value
- Valuation79/100 · 2/3 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
RVRC Holding AB (RVRC.ST). Latest full fiscal year: 2026; data up to 2026-06-30.
Figures computed from the financial statements: ROE 26.8%.
The estimated value range is 30.60–60.38 SEK per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 40.19 SEK, the price of 55.05 SEK leaves a potential of -27.0% (value / price − 1) and a margin of safety of -37.0% (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 (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 129.3%
- EPS CAGR 3Y: 12.9%
- Interest coverage: 105.5x
- Current ratio: 2.2x
- FCF yield: 7.3%
- Shareholder yield (distributions): 5.8%
- Payout ratio (FCF): 33.1%
What contradicts it
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, Net debt / EBITDA, 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 RVRC.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
RVRC Holding AB, which owns the outdoor brand RevolutionRace, targets annual growth of 20 percent and an adjusted EBIT margin of 20 percent through fiscal 2026/2027, against net sales of 1 925 MSEK in fiscal 2024/25 1. The company emphasises durable products and preferred materials, which make up 90 percent of its textiles 1.
SWOT
Strengths
- The company has a clear commitment to sustainability, with preferred materials in most textiles and targets validated by the Science Based Targets initiative 1.
- The shareholder base is stable, with a high concentration among Swedish investors and several major shareholders who may support the long-term strategy 1.
- The dividend policy is clear, with a set distribution range and a practice of share buybacks 1.
Weaknesses
- The share price moved considerably during the period under review, which may reflect uncertainty among investors 1.
- Reliance on an extended supply chain with production in several countries may raise operational risks that are hard to control 1.
- The company is relatively small in terms of market capitalisation, which may limit share liquidity for investors 1.
Opportunities
- International growth and a broader product range could open new markets and new customer groups 1.
- A circular economy with repair and resale could create additional revenue and build customer loyalty 1.
- The digital sustainability data platform and digital product passport could improve efficiency and transparency 1.
Risks
- Growth target not methigh
If annual growth stays below the set objective, the dividend policy and investments could be affected.
- Margin pressuremedium
Sourcing or logistics costs could reduce the EBIT margin below the target set by the board.
- Supply chain riskmedium
Suppliers outside Europe may raise social or environmental issues that require continuous monitoring.
- Limited share liquiditylow
Concentrated ownership may make trading less fluid for smaller investors.
- Sustainability regulatory compliancemedium
Implementing CSRD requirements could require additional investment in data systems.
Investment thesis
What would need to be true (bull case)
- If the growth and margin targets are reached, the company could demonstrate that its durable brand model can scale internationally.
- Externally validated sustainability commitments could attract customers and investors focused on ESG criteria.
- The dividend policy and share buybacks show an intention to return capital to shareholders.
What would break the thesis
- If demand for outdoor apparel falls, the ambitious annual growth target could become hard to sustain.
- Investments needed for growth and compliance could compress profitability in the short term.
- Shareholder concentration and low liquidity could limit interest from larger institutional investors.
What to watch
- Quarterly results against the 20 percent annual growth targetQ1 2026
- Development of the adjusted EBIT margin against the 20 percent target2026
- Approval of the proposed dividend of 1.35 SEK per shareNovember 2025 AGM
- Progress toward the Scope 1, 2 and 3 emissions reduction targets for 2030next annual report
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
RVRC Holding AB is the group behind RevolutionRace, an outdoor brand that aims to become 'the world's most recommended outdoor brand' and offers quality products at a competitive price 1. The annual report describes a focus on making nature accessible to all customers, supported by a supplier network and a newly opened purchasing office in Vietnam 1. The company has been listed on Nasdaq Stockholm Midcap since June 2021 1.
The business strategy rests on international growth and a broadening product range, with investments needed to support this path, as set out in financial targets adopted by the board in May 2024 1. The company also follows a dividend policy of distributing 40 to 60 percent of annual earnings, after weighing long-term financial stability and growth opportunities 1.
On the supply chain side, the company has introduced a traceability system and a sustainability data platform, Qarma, which is also to support its digital product passport 1. The annual report also shows emissions reduction commitments validated by the Science Based Targets initiative 1.
Segments
RevolutionRace outdoor products
The outdoor product range, designed to be durable and multifunctional, forms the core of the business, and the company encourages customers to use products for multiple activities to extend their lifespan 1. Preferred materials make up 90 percent of textiles, up from 22 percent in 2022/23 1.
Online and direct sales
The report mentions the web shop and the Barkarby outlet store as points of sale, alongside transport from warehouse to customer 1. The source does not provide a detailed revenue split by channel in the cited data.
Market context
The reference market is outdoor apparel, in which RevolutionRace aims for international growth 1. The company reports net sales of 1 925 MSEK in fiscal 2024/25, up from 1 840 MSEK in the prior year 1. The exact market share is not stated in the source provided.
The shareholder structure is concentrated, with Swedish investors holding 79.8 percent of capital and votes at year end 1. This may influence how the market assesses the company's dividend policy.
Trends
- Rising demand for durable productstailwind
The focus on preferred materials and circular design could support brand differentiation, if customers respond to these attributes 1.
- Geopolitical and economic pressuresheadwind
The report notes geopolitical tensions and economic concern, which could affect demand and sourcing costs 1.
- Sustainability reporting regulationmixed
Preparing for CSRD and ESRS requirements takes resources, but may also strengthen trust among investors and partners 1.
- Expanding Asian supplier networkmixed
Opening a purchasing office in Vietnam could improve control of quality and social standards, but also brings new operational risks 1.
Competitive position
The source provided does not list direct competitors. The company positions itself as an outdoor brand with quality products at an attractive price, which implies competition with other outdoor apparel brands 1.
The differentiation the company proposes rests on sustainability, multifunctionality and closeness to its customer community, which could matter against competitors 1.
- European outdoor apparel brands
The source does not name these competitors. The company operates in a segment with several international outdoor apparel players.
- Outdoor brands with sustainable supply chains
The source does not name these competitors. Comparisons should be based on each player's public data.
- Sporting goods retailers
The source does not identify these competitors. Sales through third-party channels can compete with the company's own channel.
- Premium outdoor brands
The source does not identify these competitors. The premium segment may compete for the same customers of technical products.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202628 Oct 2026
- Annual report 202526 Oct 2026
- Annual report 202408 May 2025
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-06-30 (ESEF) · SEC / RVRC Holding AB · 30 Jun 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.