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Swedish fintech offering buy-now-pay-later installment payments, a shopping app and banking services for consumers and merchants.
Swedish fintech offering buy-now-pay-later installment payments, a shopping app and banking services for consumers and merchants.
Merchants pay a fee on each sale made through Klarna and in return get shoppers who complete more purchases, so it earns mainly from merchants, with extra income from interest on longer instalment loans, late fees and card use. Because it lends from its own balance sheet, credit losses matter. It holds a Swedish banking licence.
In one line: A Swedish/European Affirm or PayPal Pay-in-4.
Moat: narrow (network effects, brand, data). Large merchant network and consumer app create two-sided platform effects, though BNPL competitors are numerous.
Headquarters: Stockholm, Sweden · Founded: 2005 · Employees: 2,831
Size Klarna (KLAR) is a United States Financials company (Miscellaneous Commercial Services) with a market value of $5.13B, the 1166th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.60 on 6 Nov 2026.
Performance Over six months the shares fell 6.2%, against +3.2% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 14 in its peer set.
Growth Revenue grew 34.1% over the last twelve months (peer median +17.2%); the operating margin is -1.2% (peer median 11.0%).
Valuation It trades at 2.11× book value against a peer median of 3.71× (3rd cheapest of 14).
Price implies The share price implies a return on equity of about 24.0%; Klarna delivers -6.0%, so the price asks more than the business earns today.
Short interest Short interest is 9.9% of the free float (15 Oct 2026).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.04B | $3.51B | $2.81B | $2.28B | $1.90B |
| Revenue growth | — | +25% | +24% | +20% | — |
| Gross profit | $2.32B | $2.00B | $1.69B | $1.38B | $1.15B |
| EBITDA | $42.0M | -$100M | $68.0M | -$96.0M | -$818M |
| Net income | -$143M | -$294M | $9.00M | -$244M | -$1.03B |
| Free cash flow | -$3.78B | -$1.03B | $586M | $807M | $325M |
| Capital expenditure | $32.0M | $30.0M | $45.0M | $84.0M | $105M |
| Total debt | $1.69B | $1.44B | $600M | $447M | $635M |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Klarna KLAR | $5.13B | -6% | +34% | -6% | 2.11× | 24.0% |
| Affirm AFRM | $23.1B | +6% | +32% | 45% | 4.19× | 73.6% |
| PayPal PYPL | $49.2B | +31% | +5% | 24% | 2.54× | 24.8% |
| Block XYZ | $51.7B | +14% | +7% | 2% | 2.26× | 36.3% |
| Sezzle SEZL | $5.05B | +146% | +43% | 89% | 21.59× | 367.0% |
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 | KLAR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.0% | +4.5% | 7th lowest of 14 |
| 6-month return | -6.2% | +3.2% | 6th lowest of 14 |
| Return on equity | -6.0% | 16.0% | lowest of 14 |
| Price / book | 2.11× | 3.71× | 3rd cheapest of 14 |
| ROE the price implies | 24.0% | 27.0% | 7th least demanding of 14 |
| ROE delivered | -6.0% | 15.7% | lowest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Klarna KLAR | United States | $5.13B | -6% | +34% | -6% | 2.11× | 24.0% | -6.0% |
| Remitly Global RELY | United States | $4.72B | -7% | +24% | 32% | 4.19× | 20.6% | 32.2% |
| WEX WEX | United States | $5.99B | +29% | +10% | 36% | 5.27× | 37.3% | 35.6% |
| Paymentus PAY | United States | $3.70B | +20% | +26% | 16% | 6.56× | 59.6% | 16.0% |
| Shift4 Payments FOUR | United States | $3.47B | +3% | +32% | 7% | 5.66× | 56.0% | 6.5% |
| Euronet Worldwide EEFT | United States | $2.65B | +3% | +5% | 22% | 2.13× | 16.8% | 22.0% |
| PayPay Corporation Sponsored ADR PAYP | United States | $9.97B | -24% | +29% | 49% | 3.89× | 27.0% | n/a |
| Flywire FLYW | United States | $2.62B | +25% | +31% | 9% | 2.91× | 27.6% | 9.1% |
| Payoneer Global PAYO | United States | $2.42B | +39% | +6% | 7% | 3.71× | 27.9% | 7.1% |
| PagSeguro Digital PAGS | United States | $2.11B | -25% | +11% | 15% | 0.72× | 9.5% | 14.6% |
| EVERTEC EVTC | United States | $2.00B | +40% | +16% | 14% | 3.07× | 19.7% | 14.4% |
| Wise WSE | United States | $13.2B | -23% | +20% | 27% | 5.94× | 61.2% | 26.9% |
| Marqeta MQ | United States | $1.93B | +11% | +17% | 15% | 2.31× | 19.1% | 15.4% |
| StoneCo STNE | United States | $1.83B | -30% | -30% | 34% | 1.00× | 12.9% | 34.2% |