Loading…
Swedish industrial trading group that acquires and operates niche technical component and solutions businesses.
Swedish industrial trading group that acquires and operates niche technical component and solutions businesses.
Earns by selling technical products with advice attached, rather than competing on volume pricing, through many small subsidiaries that each run their own business under their own name. Growth comes from steadily buying more such firms, usually from founders who stay on, funded by cash flow and modest debt.
In one line: A Swedish smaller Roper Technologies-style acquirer.
Moat: narrow (scale, process know-how). Decentralized acquisition model buying niche technical distributors/component makers with sticky customer ties.
Headquarters: Stockholm, Sweden · Founded: 1906 · Employees: 4,861
Size Addtech (ADDT-B.ST) is a Sweden Industrials company (Wholesale Distributors) with a market value of $8.66B, the 35th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 314.20 on 6 Nov 2026.
Performance Over six months the shares fell 2.5%, against +2.5% for the median peer and +8.2% for the Sweden market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 4.3% over the last twelve months (peer median +4.4%); the operating margin is 13.4% (peer median 9.8%).
Valuation It trades at 30.7× forward earnings against a peer median of 19.2× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.6 points above its cost of capital (9.3% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 23.5B | SEK 22.7B | SEK 21.8B | SEK 20.0B | SEK 18.7B |
| Revenue growth | — | +4% | +9% | +7% | — |
| Gross profit | SEK 7.94B | SEK 6.70B | SEK 6.20B | SEK 5.66B | SEK 5.03B |
| EBITDA | SEK 3.74B | SEK 4.03B | SEK 3.67B | SEK 3.29B | SEK 2.82B |
| Net income | SEK 2.31B | SEK 2.15B | SEK 1.89B | SEK 1.63B | SEK 1.50B |
| Free cash flow | SEK 2.83B | SEK 2.86B | SEK 2.54B | SEK 2.42B | SEK 1.79B |
| Capital expenditure | SEK 149M | SEK 184M | SEK 233M | SEK 189M | SEK 197M |
| Total debt | SEK 7.70B | SEK 7.15B | SEK 6.19B | SEK 5.22B | SEK 4.71B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Addtech ADDT-B.ST | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% |
| Indutrade INDT.ST | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% |
| Lifco LIFCO-B.ST | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% |
| Beijer Ref BEIJ-B.ST | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ADDT-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.6% | +3.6% | 7th lowest of 21 |
| 6-month return | -2.5% | +2.5% | 10th lowest of 21 |
| Distance from 52-week high | -14.0% | -16.0% | 10th highest of 21 |
| Revenue growth (TTM) | +4.3% | +4.4% | 11th highest of 21 |
| Operating margin | 13.4% | 9.8% | 7th highest of 21 |
| Forward P/E | 30.7× | 19.2× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 19.3% | 9.0% | 5th most demanding of 20 |
| Growth delivered (Del g) | +14.9% | +9.0% | 7th highest of 20 |
| Hurdle (Req g minus delivered) | +4.4 pp | -1.2 pp | 5th most demanding of 20 |
| ROIC minus cost of capital | +6.6 pp | +2.5 pp | 7th highest of 21 |
| EV / EBITDA | 24.5× | 12.6× | 2nd most expensive of 18 |
| Net debt / EBITDA | 1.7× | 2.4× | 6th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| Hdhms 443060.KS | South Korea | $5.28B | -39% | +20% | 16% | 23.0× | 3.0% | +14.5% |