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Nordic hotel chain operating branded hotels across Scandinavia, mainly under management/lease contracts.
Nordic hotel chain operating branded hotels across Scandinavia, mainly under management/lease contracts.
Runs hotels it mostly does not own: most are leased from property companies, often with rent tied partly to sales, while a smaller number are managed or franchised for fees. Earnings depend on occupancy and room rates against a cost base that is partly fixed, though sales-linked rents soften the swing.
In one line: A Nordic Choice Hotels-style regional hotel operator.
Moat: narrow (brand, scale, distribution). Largest Nordic hotel brand and distribution network, but hospitality demand is cyclical and asset-light leases carry fixed costs.
Headquarters: Stockholm, Sweden · Founded: 1963 · Employees: 17,670
Size Scandic Hotels (SHOT.ST) is a Sweden Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $2.29B, the 76th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 104.20 on 6 Nov 2026.
Performance Over six months the shares gained 16.1%, against -0.3% for the median peer and +8.2% for the Sweden market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +6.5%); the operating margin is 12.7% (peer median 15.4%).
Valuation It trades at 17.2× forward earnings against a peer median of 18.2× (9th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 22.6B | SEK 22.3B | SEK 22.0B | SEK 21.9B | SEK 19.2B |
| Revenue growth | — | +2% | 0% | +14% | — |
| Gross profit | SEK 2.88B | SEK 2.79B | SEK 2.88B | SEK 2.80B | SEK 2.60B |
| EBITDA | SEK 6.92B | SEK 6.78B | SEK 6.77B | SEK 6.61B | SEK 5.97B |
| Net income | SEK 726M | SEK 625M | SEK 643M | SEK 532M | SEK 394M |
| Free cash flow | SEK 5.41B | SEK 5.37B | SEK 5.18B | SEK 5.82B | SEK 5.64B |
| Capital expenditure | SEK 1.09B | SEK 1.12B | SEK 1.06B | SEK 521M | SEK 635M |
| Total debt | SEK 45.2B | SEK 44.7B | SEK 45.4B | SEK 45.6B | SEK 42.9B |
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 |
|---|---|---|---|---|---|---|
| Scandic Hotels SHOT.ST | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% |
| Marriott International MAR | $107B | +18% | +6% | 16% | 32.1× | 17.9% |
| Accor AC.PA | $12.8B | +12% | 0% | 16% | 22.9× | 14.4% |
| InterContinental Hotels Group PLC Sponsored ADR IHG | $25.3B | +19% | +3% | 24% | 23.8× | 12.7% |
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 | SHOT.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.0% | +7.4% | 5th highest of 21 |
| 6-month return | +16.1% | -0.3% | 6th highest of 21 |
| Distance from 52-week high | -3.4% | -16.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.8% | +6.5% | 5th lowest of 21 |
| Operating margin | 12.7% | 15.4% | 8th lowest of 21 |
| Forward P/E | 17.2× | 18.2× | 9th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | 4.5% | 10th least demanding of 19 |
| Growth delivered (Del g) | +24.4% | +19.5% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | -21.2 pp | -19.3 pp | 9th least demanding of 19 |
| ROIC minus cost of capital | -0.2 pp | -0.3 pp | 11th highest of 21 |
| EV / EBITDA | 9.7× | 13.7× | 7th cheapest of 19 |
| Net debt / EBITDA | 6.4× | 2.5× | 3rd most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Scandic Hotels SHOT.ST | Sweden | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% | +24.4% |
| BTG Hotels (Group) Co Ltd Shs -A- 600258.SS | China | $2.25B | -14% | -3% | 18% | 17.0× | -11.1% | +7.6% |
| Lindblad Expeditions LIND | United States | $2.23B | +61% | +17% | 8% | 89.0× | 33.0% | +56.4% |
| Resorttrust 4681.T | Japan | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% | +9.4% |
| Hbx Group International HBX.MC | Spain | $2.19B | +29% | +4% | 38% | 9.6× | -4.2% | +18.4% |
| Leela Palaces Hotels & Resorts THELEELA.NS | India | $2.45B | +65% | +17% | 42% | 43.7× | n/a | n/a |
| Hotel Properties H15.SI | Singapore | $2.07B | +11% | +2% | 7% | n/a | n/a | n/a |
| EIH EIHOTEL.NS | India | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% | +42.9% |
| Kyoritsu Maintenance 9616.T | Japan | $2.00B | +47% | +20% | 9% | 16.7× | 2.3% | +17.8% |
| Melia Hotels International MEL.MC | Spain | $2.67B | -10% | +5% | 13% | 15.2× | 7.3% | +31.5% |
| Monarch Casino & Resort MCRI | United States | $1.92B | -8% | +5% | 27% | 15.6× | 6.7% | +24.2% |
| Chalet Hotels CHALET.NS | India | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% | +57.5% |
| Shangri-La Asia 0069.HK | Hong Kong | $1.87B | -9% | +5% | 35% | 10.6× | -8.7% | +16.8% |
| Guoco 0053.HK | Hong Kong | $2.90B | 0% | -11% | 13% | n/a | -3.9% | +16.0% |
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | United States | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% | +24.5% |
| Shanghai Jin Jiang International Hotels 600754.SS | China | $3.18B | -16% | +5% | 14% | 19.5× | -8.1% | +6.9% |
| SkiStar SKIS-B.ST | Sweden | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% | +12.5% |
| Great Eagle 0041.HK | Hong Kong | $1.37B | -24% | +75% | 12% | n/a | -0.9% | +13.8% |
| ITC Hotels ITCHOTELS.NS | India | $3.85B | +5% | +65% | 25% | 34.6× | 37.0% | +64.8% |
| Ventive Hospitality VENTIVE.NS | India | $1.34B | -17% | +15% | 29% | 26.2× | 29.9% | +78.5% |
| Monte-Carlo Societe des Bains de Mer BAIN.PA | France | $4.06B | +9% | +12% | 9% | n/a | 24.2% | +20.7% |