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Swedish serial acquirer of niche industrial, dental and demolition/tools businesses run on a decentralized model.
Swedish serial acquirer of niche industrial, dental and demolition/tools businesses run on a decentralized model.
Earnings are the sum of many small companies it has bought one by one and left to run themselves, with the group supplying capital and an acquisition team. It reports dental, demolition and tools, and systems solutions. Carl Bennet is chairman and controls it through voting shares; these Class B shares carry fewer votes.
In one line: A Swedish, smaller Danaher/Constellation Software-style acquirer.
Moat: narrow (scale, process know-how). A disciplined, decentralized M&A model acquiring #1/#2 niche businesses at attractive prices.
Headquarters: Enkoping, Sweden · Founded: 1946 · Employees: 7,814
Size Lifco (LIFCO-B.ST) is a Sweden Industrials company (Industrial Machinery) with a market value of $13.1B, the 24th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 283.20 on 6 Nov 2026.
Performance Over six months the shares gained 1.1%, against -5.3% for the median peer and +8.2% for the Sweden market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 7.1% over the last twelve months (peer median +8.0%); the operating margin is 18.6% (peer median 16.1%).
Valuation It trades at 29.3× forward earnings against a peer median of 21.5× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.2 points above its cost of capital (8.7% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 29.8B | SEK 28.3B | SEK 26.1B | SEK 24.5B | SEK 21.6B |
| Revenue growth | — | +8% | +7% | +13% | — |
| Gross profit | SEK 13.3B | SEK 10.7B | SEK 10.1B | SEK 9.52B | SEK 8.02B |
| EBITDA | SEK 7.54B | SEK 6.96B | SEK 6.54B | SEK 6.24B | SEK 5.00B |
| Net income | SEK 3.94B | SEK 3.63B | SEK 3.30B | SEK 3.27B | SEK 2.78B |
| Free cash flow | SEK 5.05B | SEK 4.62B | SEK 4.13B | SEK 4.03B | SEK 2.79B |
| Capital expenditure | SEK 490M | SEK 542M | SEK 536M | SEK 481M | SEK 348M |
| Total debt | SEK 11.0B | SEK 11.0B | SEK 10.4B | SEK 9.52B | SEK 8.26B |
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 |
|---|---|---|---|---|---|---|
| Lifco LIFCO-B.ST | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% |
| Indutrade INDT.ST | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% |
| Addtech ADDT-B.ST | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Constellation Software CSU.TO | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% |
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 | LIFCO-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | -5.3% | 8th lowest of 21 |
| 6-month return | +1.1% | -5.3% | 10th highest of 21 |
| Distance from 52-week high | -23.1% | -33.4% | 9th highest of 21 |
| Revenue growth (TTM) | +7.1% | +8.0% | 10th lowest of 21 |
| Operating margin | 18.6% | 16.1% | 9th highest of 21 |
| Forward P/E | 29.3× | 21.5× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 15.2% | 14.1% | 6th most demanding of 17 |
| Growth delivered (Del g) | +15.4% | +8.2% | 3rd highest of 17 |
| Hurdle (Req g minus delivered) | -0.2 pp | +4.8 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | +5.2 pp | +3.3 pp | 10th highest of 21 |
| EV / EBITDA | 18.4× | 16.2× | 5th most expensive of 17 |
| Net debt / EBITDA | 1.3× | 1.4× | 9th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lifco LIFCO-B.ST | Sweden | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% | +15.4% |
| GEA Group Aktiengesellschaft G1A.DE | Germany | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% | +3.5% |
| Zhejiang Sanhua Intelligent Controls 2050.HK | Hong Kong | $11.9B | -38% | +8% | 15% | 18.4× | 8.7% | +19.9% |
| ACM Research (Shanghai) 688082.SS | China | $14.6B | +30% | +9% | 15% | 54.1× | n/a | n/a |
| Lennox International LII | United States | $11.7B | -34% | +2% | 19% | 15.3× | 5.0% | +7.4% |
| Lincoln Electric LECO | United States | $14.9B | +2% | +11% | 18% | 22.0× | 13.3% | +9.7% |
| Madison Air Solutions MAIR | United States | $11.6B | -45% | +27% | 17% | 20.6× | 31.9% | +27.3% |
| Watts Water Technologies WTS | United States | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% | +10.1% |
| Ihi 7013.T | Japan | $15.4B | -20% | +8% | 10% | 12.7× | 16.7% | +8.1% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| IDEX IEX | United States | $16.7B | +5% | +7% | 21% | 23.7× | 14.7% | +8.0% |
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| Nordson NDSN | United States | $17.3B | +10% | +7% | 27% | 24.5× | 15.4% | +5.6% |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| Huagong Tech 000988.SZ | China | $9.54B | -47% | +16% | 7% | 30.9× | n/a | n/a |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |