Who are Industrivarden's main competitors?

Named competitors: Investment AB Latour (LATO-B.ST), Lundbergforetagen (LUND-B.ST), Investor AB (INVE-A.ST). The cockpit's measured peer set (industry) also includes China Resources New Energy (001248.SZ), Exor (EXO.AS), Ts Financial (2887.TW), HAL Trust (HAL.AS), Julius Baer Gruppe (BAER.SW), Jio Financial Services (JIOFIN.NS).

Is Industrivarden expensive compared with its peers?

On forward p/e it trades at 9.6× against a peer median of 12.5×, 3rd cheapest of 14 in its peer set.

How has Industrivarden stock performed?

Over six months to 6 Nov 2026 the shares returned +9.0% against +1.7% for the median peer; over one year +34.8%.

← CockpitCompetitor Analysis › INDU-A.ST Industrivarden AB Class AOpen in the cockpit ↗

Industrivarden AB Class AINDU-A.STCompetitor analysis, valuation and peers

Sweden · SEK·Financials›Financial Conglomerates

Swedish investment company holding long-term stakes in Handelsbanken, Volvo, Sandvik, Ericsson and other industrial firms.

≈ A Swedish holding company similar to a diversified closed-end fundMomentum neutral 50

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$23.4B

US dollars, full cap

Free float

50%

of shares outstanding

$/day

$4.62M

20-day average traded

Fwd P/E

9.6×

forward earnings

ROIC−WACC

n/a

WACC 9.0%

Hurdle

n/a

no reverse DCF

Next earnings

91 days

5 Feb 2027

Close · SEKSEK 531.00

1D-0.8%

1W+1.7%

1M+6.4%

3M-3.0%

6M+9.0%

YTD+27.8%

1Y+34.8%

ATR %1.8%

52w lowhigh7.0% off high

What Industrivarden does

Swedish investment company holding long-term stakes in Handelsbanken, Volvo, Sandvik, Ericsson and other industrial firms.

Income is dividends from the listed companies it holds plus gains when it trades its positions, and it passes much of that on as its own dividend. It acts as a long-term active owner, with seats on the boards of its holdings.

In one line: A Swedish holding company similar to a diversified closed-end fund.

Products and services

Handelsbanken stake
Volvo stake
Sandvik stake
SSAB/Ericsson stakes

Where it sits in the supply chain

Financial holding
Diversified investment holding company
Long-term equity stakes in Nordic blue…

What could go right

Performance of underlying blue-chip holdings

What could go wrong

Holding-company discount
Concentration in Swedish industrials/banks

Moat: narrow (scale). Value comes from the quality of underlying blue-chip industrial holdings, not an operating moat itself.

Headquarters: Stockholm, Sweden · Founded: 1944 · Employees: 15

Named competitors

Investment AB Latour LATO-B.ST
Lundbergforetagen LUND-B.ST
Investor AB INVE-A.ST

Industrivarden at a glance

Size Industrivarden (INDU-A.ST) is a Sweden Financials company (Financial Conglomerates) with a market value of $23.4B, the 15th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 531.00 on 6 Nov 2026.

Performance Over six months the shares gained 9.0%, against +1.7% for the median peer and +8.2% for the Sweden market (cap-weighted) — 6th highest of 17 in its peer set.

Growth Revenue fell 1.4% over the last twelve months (peer median +2.9%); the operating margin is 569.0% (peer median 28.5%).

Valuation It trades at 9.6× forward earnings against a peer median of 12.5× (3rd cheapest of 14).

Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Industrivarden against the median of its 17 peers (local-currency closes).

Industrivarden financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	SEK 9.51B	SEK 9.53B	SEK 8.59B	SEK 6.42B	SEK 5.48B
Revenue growth	—	+11%	+34%	+17%	—
EBITDA	n/a	SEK 35.7B	SEK 12.9B	SEK 27.1B	-SEK 13.9B
Net income	SEK 53.8B	SEK 35.4B	SEK 12.7B	SEK 26.8B	-SEK 14.0B
Free cash flow	SEK 9.19B	SEK 9.21B	SEK 8.29B	SEK 6.06B	SEK 5.24B
Capital expenditure	SEK 0	SEK 0	SEK 0	SEK 0	SEK 0
Total debt	SEK 6.28B	SEK 7.28B	SEK 7.79B	SEK 8.20B	SEK 8.18B

Quarterly statements and history in the cockpit →

Industrivarden competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Industrivarden is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Industrivarden is the large dot.

Industrivarden competitors and peer comparison

Head to head with its named competitors (INDU-A.ST vs LATO-B.ST vs LUND-B.ST vs INVE-A.ST)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Industrivarden INDU-A.ST	$23.4B	+9%	-1%	569%	9.6×	n/a
Investment AB Latour LATO-B.ST	$14.2B	+19%	+3%	15%	n/a	n/a
L E Lundbergforetagen LUND-B.ST	$15.3B	+16%	-4%	28%	n/a	n/a
Investor INVE-A.ST	$133B	+16%	+2%	158%	65.1×	n/a

How Industrivarden compares with its peers

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.

Industrivarden against its 17 peers (data as of 6 Nov 2026)
Measure	INDU-A.ST	Peer median	Rank in peer set
1-month return	+6.4%	+3.6%	6th highest of 18
6-month return	+9.0%	+1.7%	6th highest of 17
Distance from 52-week high	-7.0%	-13.2%	6th highest of 18
Revenue growth (TTM)	-1.4%	+2.9%	6th lowest of 18
Operating margin	569.0%	28.5%	highest of 18
Forward P/E	9.6×	12.5×	3rd cheapest of 14

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Industrivarden INDU-A.ST	Sweden	$23.4B	+9%	-1%	569%	9.6×	n/a	n/a
China Resources New Energy 001248.SZ	China	$21.5B	n/a	0%	42%	n/a	n/a	n/a
Exor EXO.AS	Netherlands	$26.2B	+10%	+59%	-384%	26.3×	n/a	n/a
Ts Financial 2887.TW	Taiwan	$29.2B	+62%	+200%	19%	12.2×	n/a	n/a
HAL Trust HAL.AS	Netherlands	$17.2B	+1%	-5%	14%	12.5×	n/a	n/a
Julius Baer Gruppe BAER.SW	Switzerland	$17.1B	+2%	0%	30%	11.3×	n/a	n/a
Jio Financial Services JIOFIN.NS	India	$16.2B	-8%	+117%	40%	74.6×	n/a	n/a
L E Lundbergforetagen LUND-B.ST	Sweden	$15.3B	+16%	-4%	28%	n/a	n/a	n/a
Investment AB Latour LATO-B.ST	Sweden	$14.2B	+19%	+3%	15%	n/a	n/a	n/a
Ares Capital ARCC	United States	$13.8B	+1%	-8%	61%	9.9×	n/a	n/a
Bajaj Holdings & Investment BAJAJHLDNG.NS	India	$13.0B	+4%	-14%	80%	n/a	n/a	n/a
Washington H. Soul Pattinson and SOL.AX	Australia	$12.5B	+12%	+143%	-9%	28.0×	n/a	n/a
BitMine Immersion Technologies BMNR	United States	$11.3B	-15%	+1,022%	-485%	25.9×	n/a	n/a
SBI 8473.T	Japan	$11.2B	-13%	+20%	40%	5.9×	n/a	n/a
M&G MNG.L	United Kingdom	$10.3B	+7%	+68%	8%	11.3×	n/a	n/a
Aker AKER.OL	Norway	$8.60B	-7%	-17%	226%	14.3×	n/a	n/a
Brookfield Business BBUC.TO	Canada	$6.15B	-9%	+106%	13%	5.4×	n/a	n/a
Onex ONEX.TO	Canada	$5.91B	-7%	+2%	173%	22.3×	n/a	n/a

Questions

Who are Industrivarden's main competitors?: Named competitors: Investment AB Latour (LATO-B.ST), Lundbergforetagen (LUND-B.ST), Investor AB (INVE-A.ST). The cockpit's measured peer set (industry) also includes China Resources New Energy (001248.SZ), Exor (EXO.AS), Ts Financial (2887.TW), HAL Trust (HAL.AS), Julius Baer Gruppe (BAER.SW), Jio Financial Services (JIOFIN.NS).
Is Industrivarden expensive compared with its peers?: On forward p/e it trades at 9.6× against a peer median of 12.5×, 3rd cheapest of 14 in its peer set.
How has Industrivarden stock performed?: Over six months to 6 Nov 2026 the shares returned +9.0% against +1.7% for the median peer; over one year +34.8%.