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Swedish maker of radiation-therapy and radiosurgery equipment (linear accelerators, Gamma Knife) used to treat cancer and brain conditions.
Swedish maker of radiation-therapy and radiosurgery equipment (linear accelerators, Gamma Knife) used to treat cancer and brain conditions.
Sells systems to hospitals as large capital purchases, often through public tenders, which makes orders lumpy, then earns steadier service and upgrade income on the installed base for many years. Gamma Knife is the older line, built on radiosurgery pioneered by founder Lars Leksell; the Leksell family remains a major shareholder.
In one line: A radiation-oncology equipment maker like a smaller Varian Medical Systems.
Moat: narrow (IP / patents, installed base, regulatory licence). Regulatory-approved, capital-intensive equipment with a large installed base creates service/upgrade revenue stickiness.
Headquarters: Stockholm, Sweden · Founded: 1972 · Employees: 4,102
Size Elekta (EKTA-B.ST) is a Sweden Health Care company (Medical Specialties) with a market value of $2.37B, the 71st largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 60.75 on 6 Nov 2026.
Performance Over six months the shares gained 7.6%, against -2.6% for the median peer and +8.2% for the Sweden market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 6.9% over the last twelve months (peer median +7.5%); the operating margin is 6.3% (peer median 10.9%).
Valuation It trades at 15.1× forward earnings against a peer median of 25.9× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +6 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 0.4 points below its cost of capital (7.3% WACC).
Next results Next results expected around 25 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 16.6B | SEK 16.7B | SEK 18.0B | SEK 18.1B | SEK 16.9B |
| Revenue growth | — | -7% | -1% | +7% | — |
| Gross profit | SEK 6.41B | SEK 5.14B | SEK 5.62B | SEK 5.75B | SEK 5.39B |
| EBITDA | SEK 1.77B | SEK 3.41B | SEK 3.51B | SEK 3.50B | SEK 2.99B |
| Net income | -SEK 362M | -SEK 519M | SEK 237M | SEK 1.30B | SEK 943M |
| Free cash flow | SEK 2.44B | SEK 2.34B | SEK 2.43B | SEK 2.21B | SEK 1.76B |
| Capital expenditure | SEK 1.00B | SEK 1.07B | SEK 1.57B | SEK 1.64B | SEK 1.56B |
| Total debt | SEK 6.83B | SEK 7.33B | SEK 7.57B | SEK 7.25B | SEK 6.67B |
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 |
|---|---|---|---|---|---|---|
| Elekta EKTA-B.ST | $2.37B | +8% | -7% | 6% | 15.1× | 10.0% |
| Siemens Healthineers SHL.DE | $55.9B | +31% | -1% | 15% | 18.9× | 9.0% |
| Shanghai United Imaging Healthcare 688271.SS | $14.8B | +9% | +27% | 9% | 46.9× | n/a |
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 | EKTA-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.8% | +2.6% | 3rd highest of 21 |
| 6-month return | +7.6% | -2.6% | 8th highest of 21 |
| Distance from 52-week high | -8.9% | -32.4% | 5th highest of 21 |
| Revenue growth (TTM) | -6.9% | +7.5% | 2nd lowest of 21 |
| Operating margin | 6.3% | 10.9% | 8th lowest of 21 |
| Forward P/E | 15.1× | 25.9× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 10.0% | 11.5% | 7th least demanding of 15 |
| Growth delivered (Del g) | +4.0% | +11.1% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | +6.0 pp | -2.3 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -0.4 pp | -0.5 pp | 11th highest of 21 |
| EV / EBITDA | 15.7× | 15.9× | 7th cheapest of 13 |
| Net debt / EBITDA | 2.6× | 0.1× | 5th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Elekta EKTA-B.ST | Sweden | $2.37B | +8% | -7% | 6% | 15.1× | 10.0% | +4.0% |
| Jafron Biomedical 300529.SZ | China | $2.46B | +8% | +1% | 37% | 25.4× | 6.9% | +0.6% |
| Micro-Tech (Nanjing) 688029.SS | China | $2.46B | +3% | +6% | 18% | 29.0× | 12.8% | +19.2% |
| Shanghai Conant Optical 2276.HK | Hong Kong | $2.27B | -27% | +8% | 29% | 22.1× | -1.6% | +14.1% |
| Metall Zug METN.SW | Switzerland | $2.25B | +19% | 0% | -10% | 139.2× | n/a | n/a |
| EBOS EBO.AX | Australia | $2.52B | +1% | +3% | 3% | 15.2× | 4.3% | +6.8% |
| Double Medical Technology 002901.SZ | China | $2.56B | -3% | +13% | 26% | 25.9× | 8.3% | +10.4% |
| Neogen NEOG | United States | $2.57B | +30% | 0% | 0% | 34.6× | n/a | n/a |
| Bonesupport BONEX.ST | Sweden | $2.16B | +34% | +25% | 25% | 61.9× | 13.3% | +45.4% |
| Medacta MOVE.SW | Switzerland | $2.61B | -21% | +8% | 15% | 24.3× | n/a | n/a |
| Establishment Labs ESTA | United States | $2.00B | -7% | +38% | -7% | n/a | n/a | n/a |
| COMET COTN.SW | Switzerland | $2.84B | -9% | -3% | 6% | 34.0× | n/a | n/a |
| JEOL 6951.T | Japan | $1.98B | -3% | -18% | 11% | 14.2× | 21.3% | +10.2% |
| Shandong Weigao Group Medical Polymer 1066.HK | Hong Kong | $1.96B | -4% | +7% | 14% | 8.8× | -11.8% | +2.1% |
| Mehow Innovative 301363.SZ | China | $1.95B | -14% | +10% | 21% | 38.8× | 18.9% | +12.9% |
| Veracyte VCYT | United States | $1.94B | -40% | +17% | 17% | 14.9× | 15.1% | +34.5% |
| SKAN SKAN.SW | Switzerland | $1.92B | +49% | +9% | 11% | 49.8× | 13.8% | +11.7% |
| Draegerwerk AG & Co. KGaA DRW8.DE | Germany | $1.89B | +17% | +5% | 7% | 9.4× | -12.6% | +0.4% |
| iRhythm IRTC | United States | $2.97B | -25% | +26% | 1% | 182.6× | n/a | n/a |
| AtriCure ATRC | United States | $2.98B | +123% | +14% | 3% | 220.7× | 55.7% | +20.9% |
| DENTSPLY SIRONA XRAY | United States | $1.89B | -14% | -1% | 5% | 7.3× | 10.2% | +1.9% |