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Operator of ski resorts in Sweden and Norway, offering lift tickets, ski schools, rentals and resort accommodation.
Operator of ski resorts in Sweden and Norway, offering lift tickets, ski schools, rentals and resort accommodation.
Earns from lift passes and season passes, plus accommodation it rents out and ski school and rentals; it also develops and sells apartments and cottages at its resorts, which adds lumpy property income. Sales follow snow conditions, weather and winter holiday periods.
In one line: A Nordic Vail Resorts.
Moat: narrow (scale, installed base, regulatory licence). Owns/operates the largest Nordic ski resorts with limited new-resort competition due to land/permitting constraints.
Headquarters: Sälen, Sweden · Founded: 1976
Size SkiStar (SKIS-B.ST) is a Sweden Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $1.58B, the 100th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 197.70 on 6 Nov 2026.
Performance Over six months the shares gained 26.6%, against -7.4% for the median peer and +8.2% for the Sweden market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 7.0% over the last twelve months (peer median +5.7%); the operating margin is 16.5% (peer median 14.3%).
Valuation It trades at 21.3× forward earnings against a peer median of 16.7× (7th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.9 points above its cost of capital (6.3% WACC).
Next results Next results expected around 18 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | SEK 4.96B | SEK 4.95B | SEK 4.63B | SEK 4.68B | SEK 4.28B |
| Revenue growth | — | +7% | -1% | +9% | — |
| Gross profit | SEK 819M | SEK 819M | SEK 757M | SEK 746M | SEK 579M |
| EBITDA | SEK 1.41B | SEK 1.40B | SEK 1.32B | SEK 1.28B | SEK 1.05B |
| Net income | SEK 628M | SEK 627M | SEK 553M | SEK 473M | SEK 414M |
| Free cash flow | SEK 628M | SEK 628M | SEK 599M | SEK 564M | -SEK 98.0M |
| Capital expenditure | SEK 628M | SEK 628M | SEK 528M | SEK 543M | SEK 808M |
| Total debt | SEK 3.53B | SEK 3.53B | SEK 3.73B | SEK 4.02B | SEK 4.30B |
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 |
|---|---|---|---|---|---|---|
| SkiStar SKIS-B.ST | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% |
| Vail Resorts MTN | $5.66B | +26% | -4% | 16% | 27.9× | 9.6% |
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 | SKIS-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.2% | +2.8% | 2nd highest of 21 |
| 6-month return | +26.6% | -7.4% | 6th highest of 21 |
| Distance from 52-week high | -0.2% | -21.3% | highest of 21 |
| Revenue growth (TTM) | +7.0% | +5.7% | 10th highest of 21 |
| Operating margin | 16.5% | 14.3% | 10th highest of 21 |
| Forward P/E | 21.3× | 16.7× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 8.4% | 0.7% | 6th most demanding of 19 |
| Growth delivered (Del g) | +12.5% | +21.2% | 6th lowest of 19 |
| Hurdle (Req g minus delivered) | -4.1 pp | -19.4 pp | 2nd most demanding of 19 |
| ROIC minus cost of capital | +1.9 pp | +1.0 pp | 10th highest of 21 |
| EV / EBITDA | 13.5× | 12.6× | 9th most expensive of 19 |
| Net debt / EBITDA | 2.5× | 2.4× | 9th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SkiStar SKIS-B.ST | Sweden | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% | +12.5% |
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | United States | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% | +24.5% |
| Great Eagle 0041.HK | Hong Kong | $1.37B | -24% | +75% | 12% | n/a | -0.9% | +13.8% |
| Shangri-La Asia 0069.HK | Hong Kong | $1.87B | -9% | +5% | 35% | 10.6× | -8.7% | +16.8% |
| Ventive Hospitality VENTIVE.NS | India | $1.34B | -17% | +15% | 29% | 26.2× | 29.9% | +78.5% |
| Chalet Hotels CHALET.NS | India | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% | +57.5% |
| Monarch Casino & Resort MCRI | United States | $1.92B | -8% | +5% | 27% | 15.6× | 6.7% | +24.2% |
| Kyoritsu Maintenance 9616.T | Japan | $2.00B | +47% | +20% | 9% | 16.7× | 2.3% | +17.8% |
| NagaCorp 3918.HK | Hong Kong | $1.21B | -48% | +12% | 58% | 4.7× | -19.3% | -4.1% |
| EIH EIHOTEL.NS | India | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% | +42.9% |
| Hotel Properties H15.SI | Singapore | $2.07B | +11% | +2% | 7% | n/a | n/a | n/a |
| Hbx Group International HBX.MC | Spain | $2.19B | +29% | +4% | 38% | 9.6× | -4.2% | +18.4% |
| Target Hospitality TH | United States | $1.13B | -26% | +12% | -9% | 22.9× | 49.9% | +7.3% |
| Lindblad Expeditions LIND | United States | $2.23B | +61% | +17% | 8% | 89.0× | 33.0% | +56.4% |
| BTG Hotels (Group) Co Ltd Shs -A- 600258.SS | China | $2.25B | -14% | -3% | 18% | 17.0× | -11.1% | +7.6% |
| Hongkong & Shanghai Hotels 0045.HK | Hong Kong | $1.11B | -12% | -4% | 13% | n/a | 4.0% | +24.1% |
| Scandic Hotels SHOT.ST | Sweden | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% | +24.4% |
| Fujita Kanko 9722.T | Japan | $1.08B | +37% | +3% | 16% | 12.9× | -4.6% | +25.2% |
| Resorttrust 4681.T | Japan | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% | +9.4% |
| Leela Palaces Hotels & Resorts THELEELA.NS | India | $2.45B | +65% | +17% | 42% | 43.7× | n/a | n/a |
| HtlShilla 008770.KS | South Korea | $985M | -46% | +1% | 3% | 15.1× | -7.6% | +5.0% |