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Employees: 3,021
Size Fenix Outdoor International AG Series B (FOI-B.ST) is a Sweden Consumer Discretionary company (Recreational Products) with a market value of $443M, the 189th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 323.00 on 6 Nov 2026.
Performance Over six months the shares fell 25.5%, against -22.9% for the median peer and +8.2% for the Sweden market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 1.0% over the last twelve months (peer median +7.8%); the operating margin is 2.6% (peer median 3.3%).
Valuation It trades at 6.3× forward earnings against a peer median of 16.0× (2nd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +1 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 2.6 points below its cost of capital (5.0% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 7.74B | SEK 7.69B | SEK 7.84B | SEK 8.49B | SEK 8.08B |
| Revenue growth | — | -2% | -8% | +5% | — |
| Gross profit | SEK 198M | SEK 207M | SEK 254M | SEK 494M | SEK 767M |
| EBITDA | SEK 880M | SEK 859M | SEK 916M | SEK 1.17B | SEK 1.35B |
| Net income | SEK 98.2M | SEK 52.7M | SEK 165M | SEK 362M | SEK 644M |
| Free cash flow | SEK 622M | SEK 505M | SEK 962M | SEK 624M | -SEK 302M |
| Capital expenditure | SEK 239M | SEK 284M | SEK 264M | SEK 310M | SEK 288M |
| Total debt | SEK 2.71B | SEK 2.35B | SEK 1.91B | SEK 2.29B | SEK 1.66B |
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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 | FOI-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.1% | -3.2% | 2nd highest of 21 |
| 6-month return | -25.5% | -22.9% | 10th lowest of 21 |
| Distance from 52-week high | -41.0% | -41.6% | 10th highest of 21 |
| Revenue growth (TTM) | +1.0% | +7.8% | 8th lowest of 21 |
| Operating margin | 2.6% | 3.3% | 7th lowest of 21 |
| Forward P/E | 6.3× | 16.0× | 2nd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 6.8% | 13.0% | 4th least demanding of 14 |
| Growth delivered (Del g) | +5.4% | +4.2% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +1.4 pp | +6.2 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | -2.6 pp | -3.6 pp | 9th highest of 19 |
| EV / EBITDA | 7.5× | 9.3× | 7th cheapest of 16 |
| Net debt / EBITDA | 2.5× | -1.7× | 2nd most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fenix Outdoor International AG Series B FOI-B.ST | Sweden | $443M | -25% | +1% | 3% | 6.3× | 6.8% | +5.4% |
| Beneteau BEN.PA | France | $457M | -32% | +1% | 0% | 26.3× | n/a | n/a |
| Impulse Qingdao Health Tech 002899.SZ | China | $428M | -43% | -1% | 6% | 36.4× | n/a | n/a |
| Guangdong Qunxing Toys Joint-Stock 002575.SZ | China | $427M | -29% | +34% | -9% | n/a | 41.8% | +38.9% |
| Soft-World International 5478.TWO | Taiwan | $426M | -3% | +6% | 20% | 12.3× | n/a | n/a |
| Zhejiang Natural Outdoor Goods 605080.SS | China | $472M | -12% | -2% | 14% | 17.8× | 7.6% | +11.9% |
| Mubang High-Tech 603398.SS | China | $416M | -49% | +94% | -133% | n/a | n/a | n/a |
| Butong 6090.HK | Hong Kong | $416M | -5% | +16% | 7% | 13.9× | 29.3% | +38.5% |
| Dream International 1126.HK | Hong Kong | $474M | -27% | +10% | 11% | n/a | -20.1% | +9.6% |
| Hailun Piano 300329.SZ | China | $407M | -23% | -11% | -112% | n/a | n/a | n/a |
| Johnson Outdoors JOUT | United States | $490M | -8% | +17% | 3% | 55.0× | 10.1% | -0.1% |
| Topkey 4536.TW | Taiwan | $401M | -3% | -10% | 16% | 9.1× | -15.6% | +4.9% |
| Mastercraft Boat MCFT | United States | $493M | -26% | +23% | 3% | n/a | 28.3% | -7.9% |
| Malibu Boats MBUU | United States | $398M | -33% | +13% | 1% | 8.6× | 19.6% | -0.3% |
| JAKKS Pacific JAKK | United States | $388M | +45% | +9% | 4% | 14.2× | 10.8% | +2.0% |
| Funko FNKO | United States | $377M | +28% | -4% | 3% | 25.7× | 13.0% | +6.8% |
| Sportsoul 001300.SZ | China | $376M | -43% | -6% | -14% | n/a | n/a | n/a |
| Ridge Outdoor International 2720.HK | Hong Kong | $353M | -14% | +16% | 17% | n/a | 17.3% | -8.9% |
| Alexander Marine 8478.TW | Taiwan | $346M | -27% | +29% | 25% | 5.0× | n/a | n/a |
| Jiangsu Kangliyuan Sports Technology 301287.SZ | China | $343M | -22% | +1% | 6% | 35.6× | 15.8% | -2.8% |
| Alpen 3028.T | Japan | $590M | +26% | +6% | 3% | n/a | -3.0% | +4.2% |