olivLaw · European equity research
Bufab AB (publ) BUFAB.ST
Sweden · Nasdaq Stockholm · ISIN SE0025010671 · Vertical: Listed companies from Sweden
Bufab is a global Supply Chain Partner that manages purchasing, quality assurance and logistics of C-components for industrial customers. In 2024 the group reported net sales of 8035 MSEK, down from the prior year, and operating profitability was under pressure, so market and cost developments are worth monitoring.
At the close of 03 Nov 2026, Bufab AB (publ) (BUFAB.ST) stock was 134.80 SEK (+0.45% on the day), with market capitalisation 5.1 bn SEK, P/E 9.3 on diluted EPS of 14.50 SEK over the last 12 months, dividend yield 3.71%, beta 0.93, 52-week range 94.03–145.40 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)
- 42.7
- weak (30–45)
- Bollinger (20, 2)
- 131.01 – 145.15
- in the lower half of the band · %B 0.27 · band width 10.2%
- SMA 50 / 200
- 138.49 / 123.21
- mixed trend
- MACD (12, 26, 9)
- -1.47 / -0.87
- 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 | −6.3% | −1.0% | −5.3 pp | — |
| 3 months | −1.6% | −3.9% | +2.3 pp | — |
| 6 months | +17.0% | +7.2% | +9.9 pp | — |
| Year to date | +34.0% | +6.6% | +27.5 pp | — |
| 1 year | +29.7% | +9.1% | +20.6 pp | −9.0% |
| 3 years | +142.1% | +47.9% | +94.2 pp | +8.1% |
| 5 years | +72.2% | +43.3% | +28.8 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.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 5.1, median 5.6, max 6.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 8.4 bn | 8.7 bn | 8.0 bn |
| Revenue YoY | unavailable | +3.0% | −7.4% |
| Net income | 609.0 m | 574.0 m | 551.0 m |
| Net income YoY | unavailable | −5.7% | −4.0% |
| Diluted EPS | unavailable | 15.03 | 14.50 |
| Diluted EPS YoY | unavailable | unavailable | −3.5% |
| net % | 7.2% | 6.6% | 6.9% |
| Free cash flow | -107.0 m | 1.4 bn | 1.0 bn |
Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 211.0 m SEK
- Financial debt
- 2.9 bn SEK
- Net debt
- 2.7 bn SEK
- Equity
- 3.9 bn SEK
- Total assets
- 9.2 bn SEK
- Debt / equity
- 0.75x
- Current ratio
- unavailable
- ROE
- 15.1%
- ROA
- 6.2%
- FCF margin
- 12.9%
Financial statements (source on every figure)
Revenue and net income (SEK)
Margins
Income statement · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 8.4 bn | 8.7 bn | 8.0 bn | esef· 08 May 2025verified |
| Cost of revenue | 6.0 bn | 6.2 bn | 5.6 bn | esef· 08 May 2025verified |
| Gross profit | 2.4 bn | 2.5 bn | 2.4 bn | esef· 08 May 2025verified |
| Operating income | 930.0 m | 974.0 m | 891.0 m | esef· 08 May 2025verified |
| Interest expense | 117.0 m | 234.0 m | 209.0 m | esef· 08 May 2025verified |
| Pre-tax income | 828.0 m | 755.0 m | 695.0 m | esef· 08 May 2025verified |
| Income tax | 218.0 m | 181.0 m | 144.0 m | esef· 08 May 2025verified |
| Net income | 609.0 m | 574.0 m | 551.0 m | esef· 08 May 2025verified |
| Diluted EPS | — | 15.03 | 14.50 | esef· 08 May 2025verified |
| Weighted average diluted shares | 38.2 m | 38.2 m | 38.1 m | esef· 08 May 2025verified |
| Dividend per share | — | 4.76 | 5.00 | esef· 08 May 2025derived |
Balance sheet · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Cash | 322.0 m | 218.0 m | 211.0 m | esef· 08 May 2025verified |
| Receivables | 1.4 bn | 1.3 bn | 1.4 bn | esef· 08 May 2025verified |
| Inventories | 3.4 bn | 2.9 bn | 2.8 bn | esef· 08 May 2025verified |
| Current assets | 5.3 bn | 4.5 bn | 4.6 bn | esef· 08 May 2025verified |
| Property, plant & equipment, net | 711.0 m | 769.0 m | 783.0 m | esef· 08 May 2025verified |
| Goodwill | 2.9 bn | 2.8 bn | 3.3 bn | esef· 08 May 2025verified |
| Intangibles (excl. goodwill) | 513.0 m | 444.0 m | 408.0 m | esef· 08 May 2025verified |
| Total assets | 9.4 bn | 8.6 bn | 9.2 bn | esef· 08 May 2025verified |
| Short-term debt | 183.0 m | 127.0 m | 153.0 m | esef· 08 May 2025verified |
| Long-term debt | 2.8 bn | 2.9 bn | 2.8 bn | esef· 08 May 2025verified |
| Equity | 3.0 bn | 3.4 bn | 3.9 bn | esef· 08 May 2025verified |
| Shares outstanding at year end | — | 37.8 m | 37.8 m | esef· 08 May 2025derived |
Cash flow · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -47.0 m | 1.4 bn | 1.1 bn | esef· 08 May 2025verified |
| Capex | 60.0 m | 78.0 m | 64.0 m | esef· 08 May 2025verified |
| Free cash flow | -107.0 m ≈ | 1.4 bn ≈ | 1.0 bn ≈ | esef· 08 May 2025derived |
| Investing cash flow | -1.1 bn | -734.0 m | -494.0 m | esef· 08 May 2025verified |
| Financing cash flow | 1.1 bn | -813.0 m | -623.0 m | esef· 08 May 2025verified |
| Dividends paid | 140.0 m | 180.0 m | 189.0 m | esef· 08 May 2025verified |
≈ 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: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 5.1 bn SEK
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
58% · 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: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.0% | 48 (vs peers) | 18% |
| Net margin · Quality | 6.9% | 64 (vs peers) | 11% |
| FCF conversion · Quality | 188.2% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.3x | 43 (on a fixed band) | 11% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 9.3x | 92 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 20.3% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 3.7% | 53 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | 18.2% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial43/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality66/100 · 3/3 factors with a value
- Returns72/100 · 2/2 factors with a value
- Valuation96/100 · 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
Bufab AB (publ) (BUFAB.ST). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 8.0 bn SEK in 2024; YoY growth -7.4%; net margin 6.9%; ROE 15.1%.
The estimated value range is 234.01–391.19 SEK per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 302.77 SEK, the price of 134.80 SEK leaves a potential of 124.6% (value / price − 1) and a margin of safety of 55.5% (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: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 188.2%
- P/E (TTM): 9.3x
- FCF yield: 20.3%
- Payout ratio (FCF): 18.2%
- The price is below the estimated value range
What contradicts it
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.
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA.
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 | 224.6 bn | 27.2 | 19.4% | 11.9% | +4.1% | +22% / +39% |
| BOL.STBoliden Ab | 140.5 bn | 14.9 | 13.3% | 10.1% | +4.8% | +10% / +78% |
| CAST.STCastellum Aktiebolag | 65.4 bn | 69.7 | 1.2% | 9.8% | −2.6% | +24% / +4% |
| AAK.STAak Ab (publ) | 45.3 bn | 13.3 | 17.2% | 7.5% | +2.2% | −34% / −18% |
| CAMX.STCamurus AB | 40.1 bn | 55.3 | 19.5% | 32.5% | +21.3% | +10% / +47% |
| BRAV.STBravida Holding AB | 32.0 bn | 26.0 | 13.7% | 4.4% | −4.9% | +95% / +137% |
| ASKER.STAsker Healthcare Group AB | 27.0 bn | 54.8 | 9.8% | 2.9% | +11.7% | −25% / unavailable |
| ALLEI.STAlleima AB | 22.9 bn | 34.1 | 4.1% | 3.6% | −5.4% | +11% / +20% |
| BURE.STBure Equity AB | 22.6 bn | — | -21.0% | — | unavailable | +20% / +20% |
| AQ.STAQ Group AB | 21.0 bn | 31.0 | 14.9% | 7.5% | +6.0% | +21% / +132% |
| ALTRA.STAltra Fastigheter AB | 17.6 bn | 32.6 | 3.0% | 15.1% | −2.2% | +4% / +15% |
| ATT.STAttendo AB (publ) | 16.8 bn | 20.8 | 15.1% | 4.3% | +0.1% | +34% / +225% |
| AFRY.STAfry Ab | 14.7 bn | 18.3 | 6.2% | 3.1% | −5.2% | −18% / +2% |
| ATRLJ-B.STAtrium Ljungberg AB | 13.4 bn | 16.3 | 2.9% | 23.9% | −2.0% | −36% / −47% |
| ALIG.STAlimak Group AB (publ) | 12.8 bn | 21.4 | 8.2% | 8.8% | −3.2% | −17% / +51% |
| ACAD.STAcadeMedia AB | 12.5 bn | 15.3 | 12.7% | 4.3% | +9.7% | +21% / +136% |
| APOTEA.STApotea AB (publ) | 9.8 bn | 42.8 | 31.3% | 3.2% | +10.1% | +5% / unavailable |
| BOOZT.STBoozt AB | 9.6 bn | 34.1 | 10.4% | 3.6% | +0.5% | +42% / +29% |
| ACTI.STActive Biotech AB (publ) | 5.1 bn | — | -84.5% | — | unavailable | −30% / −76% |
| BUFAB.STBufab AB (publ) | 5.1 bn | 9.3 | 15.1% | 6.9% | −7.4% | +38% / +113% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.3 | 13.0% | 2.2% | +16.7% | +2% / +25% |
| CEVI.STCellaVision AB | 4.6 bn | 29.8 | 18.0% | 20.2% | +4.9% | +16% / +8% |
| BHG.STBHG Group AB | 4.4 bn | 30.5 | 2.5% | 1.4% | +6.2% | −20% / +109% |
| CARA.STCarasent AB (publ) | 1.9 bn | 53.4 | 4.1% | 10.1% | +24.9% | −5% / +93% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +11% / −54% |
1- and 3-year price returns: for BUFAB.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 | 72.42 Total return -44% · Per year -44% | 128.68 Total return -1% · Per year -1% | 194.71 Total return 49% · Per year 49% |
| 3 years | 57.50 Total return -50% · Per year -21% | 116.13 Total return -4% · Per year -1% | 194.71 Total return 57% · Per year 16% |
| 5 years | 45.66 Total return -55% · Per year -15% | 104.81 Total return -6% · Per year -1% | 194.71 Total return 66% · Per year 11% |
- Exit P/E± 29.03
- Net margin± 20.32
- Annual revenue growth± 18.35
- Annual dilution± 1.71
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
Bufab is a global Supply Chain Partner that manages purchasing, quality assurance and logistics of C-components for industrial customers. In 2024 the group reported net sales of 8035 MSEK 1, down from the prior year, and operating profitability was under pressure, so market and cost developments are worth monitoring.
SWOT
Strengths
- A well-defined Supply Chain Partner model covering purchasing, quality and logistics in one service for customers 1.
- A global network of specialists present in multiple subsidiaries, supporting service to customers in several regions 1.
- A stable shareholder base with one significant main shareholder, which can support strategic continuity 1.
Weaknesses
Opportunities
Risks
- Economic conditionshigh
Results depend on the demand of industrial customers, and a slowdown in activity could reduce volumes and revenue 1.
- Margin pressurehigh
High selling and administrative costs could limit profitability if revenue does not grow enough 1.
- Acquisition integration riskmedium
Integrating acquired companies may prove more costly or slower than expected, with effects on results 1.
- Debt riskmedium
The group has significant financial debt, and interest costs could affect net profit if financing conditions worsen 1.
- Operational and regulatory risklow
One subsidiary's activity is licensed under environmental legislation, which implies compliance obligations that may generate additional costs 1.
Investment thesis
What would need to be true (bull case)
- The Supply Chain Partner model could support long-term customer relationships if the complete supply service stays competitive 1.
- Streamlined inventories and working capital could improve cash flow in coming periods 1.
- If administrative costs are controlled, higher volume could contribute to better margins 1.
What would break the thesis
What to watch
- Development of net sales and operating profit compared with 2024Q1 2027
- Level of inventories and working capital relative to volumes2027
- Effects of integrating acquired companies on costsnext 10-K
- Dividend policy and development of share buybacks2027
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
Bufab AB (publ) is a group with its registered seat in Stockholm and administrative address in Värnamo, focused on trading C-components, meaning standardised industrial parts of low value with a large impact on production continuity. The company defines its role as a complete supply partner, taking responsibility for purchasing, quality assurance and logistics for its customers. Operations are run by a global organisation of specialists, called 'Solutionists' in the documents, located in subsidiaries across different regions 1.
The business model is largely trading-based, with most subsidiaries carrying on pure trading activity and a relatively low own environmental footprint 1. The group owns 52 companies, and the average number of full-time employees fell in 2024 compared with 2023, indicating an adjustment of the cost structure 1. Revenue depends on the volume of components delivered and on the ability to maintain long-term customer relationships.
The shareholder base is concentrated, and the largest shareholder held just over 29 percent of shares and votes at 31 December 2024 1. The parent company leads the group and handles reporting, while administrative and operational functions are mainly managed by the subsidiary Bufab International AB 1.
Segments
Supply Chain Partner for C-components
The main segment covers purchasing, quality assurance and logistics for industrial C-components. It represents the core of the activity and is supported by the group's global network of specialists in its subsidiaries 1.
Environmentally regulated activities
A small part of the group, a single unit with production in Sweden, carries on activities licensed under environmental legislation and represents a small fraction of total net sales 1.
Market context
The market for C-components is fragmented and depends on the industrial cycle of customers, especially manufacturers operating in several regions. The annual report signals that group performance is tied to the economic conditions in which its customers operate 1.
Demand can be influenced by industrial investment and customers' inventory levels, and in 2024 part of the development in net sales reflected this sensitivity 1. For management, expanding the global network and controlling costs remain central evaluation factors.
Trends
- Sensitivity to the industrial cycleheadwind
The annual report indicates that group risks are linked to the impact of the economic cycle on customer demand, which could limit volume growth if industrial activity cools 1.
- Inventory reduction and working capitaltailwind
Reduced inventories in 2024 contributed to cash flow from operating activities, showing an effort to streamline working capital 1.
- Procurement costs and margin pressuremixed
Cost of goods sold and selling and administrative expenses remained high relative to net sales, which could limit margins if cost pressures persist 1.
- Acquisitions and integration of new companiesmixed
The group made payments for acquisitions of companies in 2024, and integrating them may influence the pace of growth and administrative costs in the short term 1.
Competitive position
Competition comes from industrial distributors, global component suppliers and procurement platforms offering similar supply services. The annual report does not explicitly name competitors, but the company defines its offer by combining purchasing, quality and logistics into a single service 1.
The declared competitive advantage rests on the global network of specialists and the ability to take full responsibility for customers' supply 1. If competitors extend similar services in the same regions, pressure on prices and market share could increase.
- Global industrial distributors
Distribution companies offering industrial components and supply services, in direct competition for industry customers.
- Supply services providers
Firms specialised in outsourcing industrial purchasing, which can compete in the same C-component segment.
- Digital industrial procurement platforms
Online platforms giving access to industrial components that can reduce the importance of traditional intermediaries.
- Manufacturers with direct sales
Manufacturers selling directly to customers, reducing room for intermediaries if they expand their own channels.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202408 May 2025
- Annual report 202323 Apr 2024
Sources
- [1] Annual report, fiscal year ended 2024-12-31 (ESEF) · SEC / Bufab AB (publ) · 31 Dec 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.