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Fredrik Lundberg's Swedish investment company holding stakes in Holmen, Industrivarden, Handelsbanken and its own real estate arm.
Fredrik Lundberg's Swedish investment company holding stakes in Holmen, Industrivarden, Handelsbanken and its own real estate arm.
Income is dividends from its listed holdings plus rent from its own property company, with the value of its holdings tracking the Swedish stock market. Fredrik Lundberg and family control it through high-vote shares; these Class B shares carry fewer votes.
In one line: A Swedish diversified holding company.
Moat: narrow (scale). A well-regarded long-term capital allocator; value depends on quality of underlying holdings, not an operating moat.
Headquarters: Stockholm, Sweden · Founded: 1944 · Employees: 4,498
Size L E Lundbergforetagen (LUND-B.ST) is a Sweden Financials company (Financial Conglomerates) with a market value of $15.3B, the 21st largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 603.50 on 6 Nov 2026.
Performance Over six months the shares gained 15.5%, against +1.4% for the median peer and +8.2% for the Sweden market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 3.6% over the last twelve months (peer median +3.2%); the operating margin is 28.5% (peer median 40.3%).
Valuation It trades at 1.04× book value against a peer median of 1.18× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 8.4%; L E Lundbergforetagen delivers 14.2%, so the price asks less than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 28.8B | SEK 30.8B | SEK 31.4B | SEK 30.6B | SEK 31.9B |
| Revenue growth | — | -2% | +2% | -4% | — |
| Gross profit | SEK 6.88B | SEK 10.7B | SEK 10.4B | SEK 12.1B | SEK 12.8B |
| EBITDA | SEK 9.71B | SEK 8.87B | SEK 8.99B | SEK 9.96B | SEK 11.8B |
| Net income | SEK 18.5B | SEK 12.1B | SEK 6.30B | SEK 7.25B | SEK 1.51B |
| Free cash flow | SEK 6.89B | SEK 6.28B | SEK 5.71B | SEK 8.40B | SEK 7.52B |
| Capital expenditure | SEK 1.49B | SEK 2.00B | SEK 1.98B | SEK 1.61B | SEK 1.28B |
| Total debt | SEK 25.6B | SEK 24.6B | SEK 20.6B | SEK 19.7B | SEK 20.8B |
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 |
|---|---|---|---|---|---|---|
| L E Lundbergforetagen LUND-B.ST | $15.3B | +16% | -4% | 14% | 1.04× | 8.4% |
| Investment AB Latour LATO-B.ST | $14.2B | +19% | +3% | 17% | 3.22× | 27.0% |
| Industrivarden INDU-A.ST | $23.4B | +9% | -1% | 27% | 1.03× | 9.4% |
| Investor INVE-A.ST | $133B | +16% | +2% | 21% | 1.17× | 9.0% |
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 | LUND-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.5% | +4.1% | 4th highest of 21 |
| 6-month return | +15.5% | +1.4% | 3rd highest of 20 |
| Return on equity | 14.2% | 11.1% | 10th highest of 21 |
| Price / book | 1.04× | 1.18× | 9th cheapest of 21 |
| Trailing P/E | 8.1× | 12.0× | 5th cheapest of 17 |
| ROE the price implies | 8.4% | 9.2% | 9th least demanding of 21 |
| ROE delivered | 14.2% | 13.1% | 10th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| L E Lundbergforetagen LUND-B.ST | Sweden | $15.3B | +16% | -4% | 14% | 1.04× | 8.4% | 14.2% |
| Jio Financial Services JIOFIN.NS | India | $16.2B | -8% | +117% | 1% | 1.18× | 19.7% | 1.3% |
| Investment AB Latour LATO-B.ST | Sweden | $14.2B | +19% | +3% | 17% | 3.22× | 27.0% | 16.8% |
| Ares Capital ARCC | United States | $13.8B | +1% | -8% | 6% | 0.99× | 8.1% | 6.2% |
| Julius Baer Gruppe BAER.SW | Switzerland | $17.1B | +2% | 0% | 16% | 1.89× | 8.8% | 16.2% |
| HAL Trust HAL.AS | Netherlands | $17.2B | +1% | -5% | 9% | 0.94× | 6.4% | 9.1% |
| Bajaj Holdings & Investment BAJAJHLDNG.NS | India | $13.0B | +4% | -14% | 13% | 1.67× | 20.7% | 13.1% |
| Washington H. Soul Pattinson and SOL.AX | Australia | $12.5B | +12% | +143% | 20% | 1.42× | 8.9% | 19.8% |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -151% | 0.94× | 15.1% | -151.2% |
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 28% | 0.91× | 8.0% | 28.4% |
| China Resources New Energy 001248.SZ | China | $21.5B | n/a | 0% | 7% | 1.20× | 3.7% | n/a |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | -4% | 2.91× | 32.8% | -3.8% |
| Industrivarden INDU-A.ST | Sweden | $23.4B | +9% | -1% | 27% | 1.03× | 9.4% | 27.2% |
| Exor EXO.AS | Netherlands | $26.2B | +10% | +59% | -13% | 0.46× | 4.6% | -12.6% |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 50% | 1.18× | 11.7% | 50.3% |
| Ts Financial 2887.TW | Taiwan | $29.2B | +62% | +200% | 15% | 1.38× | 5.9% | 15.3% |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | -24% | 1.11× | 11.6% | -23.5% |
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 5% | 0.60× | 6.5% | 5.2% |
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 28% | 2.62× | 24.8% | 28.5% |
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 4% | 0.77× | 7.1% | 3.9% |
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 15% | 1.68× | 12.3% | 14.9% |