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Employees: 753
Size Karnell (KARNEL-B.ST) is a Sweden Industrials company (Trucks/Construction/Farm Machinery) with a market value of $465M, the 184th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 85.20 on 6 Nov 2026.
Performance Over six months the shares gained 7.8%, against -23.7% for the median peer and +8.2% for the Sweden market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 27.9% over the last twelve months (peer median +2.2%); the operating margin is 14.3% (peer median 5.4%).
Valuation It trades at 16.7× forward earnings against a peer median of 17.7× (6th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (7.5% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 2.08B | SEK 1.69B | SEK 1.40B | SEK 1.10B | SEK 880M |
| Revenue growth | — | +20% | +27% | +25% | — |
| Gross profit | SEK 298M | SEK 201M | SEK 146M | SEK 124M | SEK 94.6M |
| EBITDA | SEK 429M | SEK 308M | SEK 226M | SEK 180M | SEK 129M |
| Net income | SEK 166M | SEK 142M | SEK 77.5M | SEK 77.4M | SEK 38.2M |
| Free cash flow | SEK 324M | SEK 168M | SEK 126M | SEK 111M | SEK 21.6M |
| Capital expenditure | SEK 75.0M | SEK 56.4M | SEK 52.4M | SEK 26.5M | SEK 39.8M |
| Total debt | SEK 871M | SEK 515M | SEK 599M | SEK 444M | SEK 508M |
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.
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 | KARNEL-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.4% | -11.4% | 8th lowest of 21 |
| 6-month return | +7.8% | -23.7% | 4th highest of 21 |
| Distance from 52-week high | -25.5% | -43.4% | 5th highest of 21 |
| Revenue growth (TTM) | +27.9% | +2.2% | 3rd highest of 21 |
| Operating margin | 14.3% | 5.4% | 4th highest of 21 |
| Forward P/E | 16.7× | 17.7× | 6th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 5.9% | 12.2% | 5th least demanding of 12 |
| Growth delivered (Del g) | +24.2% | +0.9% | highest of 12 |
| Hurdle (Req g minus delivered) | -18.3 pp | +9.8 pp | 2nd least demanding of 12 |
| ROIC minus cost of capital | +3.6 pp | -2.9 pp | 5th highest of 21 |
| EV / EBITDA | 12.2× | 11.6× | 6th most expensive of 12 |
| Net debt / EBITDA | 1.6× | 1.2× | 6th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Karnell KARNEL-B.ST | Sweden | $465M | +8% | +28% | 14% | 16.7× | 5.9% | +24.2% |
| Anhui Quanchai Engine 600218.SS | China | $463M | -27% | +3% | -1% | n/a | -3.7% | 0.0% |
| Hangzhou Hota M&E 001225.SZ | China | $469M | -32% | -2% | 3% | n/a | 42.5% | -10.3% |
| Anshan Senyuan Road and Bridge 300210.SZ | China | $471M | -40% | -36% | -24% | n/a | n/a | n/a |
| Ningbo Daye Garden Machinery 300879.SZ | China | $457M | -37% | +8% | -4% | n/a | n/a | n/a |
| Kunming Yunnei Power 000903.SZ | China | $474M | -23% | -13% | -23% | n/a | n/a | n/a |
| Junjin Construction & Robot 079900.KS | South Korea | $452M | -34% | +2% | 13% | 19.9× | 4.5% | +15.9% |
| Texmaco Rail & Engineering TEXRAIL.NS | India | $452M | -9% | -14% | 8% | 21.9× | 24.5% | +21.0% |
| Kyokuto Kaihatsu Kogyo 7226.T | Japan | $481M | -25% | +15% | 6% | 14.3× | n/a | n/a |
| Wabash National WNC | United States | $444M | +46% | -7% | -10% | n/a | n/a | n/a |
| Greaves Cotton GREAVESCOT.NS | India | $503M | +22% | +28% | 3% | 56.8× | 41.8% | +17.8% |
| Naipu Mining Machinery 300818.SZ | China | $504M | -40% | +21% | 9% | 30.3× | n/a | n/a |
| Aichi 6345.T | Japan | $507M | -11% | +2% | 11% | 11.9× | -5.3% | +0.1% |
| Columbus McKinnon CMCO | United States | $510M | +11% | +81% | 4% | 7.9× | n/a | n/a |
| Inner Mongolia North Hauler Joint Stock 600262.SS | China | $510M | -18% | -3% | 8% | n/a | -13.2% | +17.5% |
| L. B. Foster FSTR | United States | $418M | -6% | +16% | 5% | 21.6× | 11.5% | +1.7% |
| STX Engine 077970.KS | South Korea | $413M | -77% | +10% | 7% | 6.9× | n/a | n/a |
| Japan Engine 6016.T | Japan | $532M | -19% | -2% | 20% | 15.5× | n/a | n/a |
| Shenzhen Keanda Electronic Technology 002972.SZ | China | $405M | -18% | +20% | 19% | n/a | 12.2% | +0.9% |
| Fujian South Highway Machinery 603280.SS | China | $399M | -28% | -3% | 5% | n/a | 15.3% | -2.0% |
| Nanjing Railway New Technology 301016.SZ | China | $542M | -28% | -1% | 18% | n/a | 19.2% | -3.9% |