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How does THULE.ST make money? Does THULE.ST have pricing power? What's the Earnings Whisper? Will THULE.ST profit more as the business scales? What is THULE.ST's management track record? Is THULE.ST's current price justified?

Thule Group AB (publ)

SEK 200.2 -$32.00 (-13.78%)

STO · 15 Sep 2026 11:38 UTC

Previous Close

SEK 204.6

Day Range

SEK 197.9SEK 202.8

Year Range

SEK 185.1SEK 257

Market Cap

21.59B

AVG Volume

255.83K

Trailing/Forward PE

18.55/15.23

PEG ratio

1.41

Dividend Yield

4.15%

Next Earnings Date

2026-10-22

Primary Exchange

Stockholm Stock Exchange

Revenue (SEK)

THULE.ST Revenue (SEK) by year
Period	Revenue (SEK)
2025	10.43B
2024	9.54B
2023	9.13B
2022	10.14B
2021	10.38B
2020	7.83B
2019	7.04B
2018	6.48B
2017	5.95B
2016	5.61B

Net Income (SEK)

THULE.ST Net Income (SEK) by year
Period	Net Income (SEK)
2025	1.11B
2024	1.12B
2023	1.1B
2022	1.27B
2021	1.79B
2020	1.17B
2019	882M
2018	837M
2017	689M
2016	676M

Operating Income (SEK)

THULE.ST Operating Income (SEK) by year
Period	Operating Income (SEK)
2025	1.64B
2024	1.52B
2023	1.51B
2022	1.71B
2021	2.34B
2020	1.59B
2019	1.2B
2018	1.16B
2017	1.08B
2016	956M

EBITDA (SEK)

THULE.ST EBITDA (SEK) by year
Period	EBITDA (SEK)
2025	1.91B
2024	1.74B
2023	1.76B
2022	1.9B
2021	2.48B
2020	1.75B
2019	1.34B
2018	1.2B
2017	1.1B
2016	972M

Cash Flows (SEK)

THULE.ST Cash Flows (SEK) by year
Period	Cash Flows (SEK)
2025	784M
2024	2.05B
2023	1.6B
2022	172M
2021	620M
2020	1.44B
2019	870M
2018	427M
2017	827M
2016	746M

EPS (SEK)

THULE.ST EPS (SEK) by year
Period	EPS (SEK)
2025	10.33
2024	10.62
2023	10.46
2022	12.12
2021	16.97
2020	11.23
2019	8.53
2018	8.12
2017	6.9
2016	6.65

Expenses (SEK)

THULE.ST Expenses (SEK) by year
Period	Expenses (SEK)
2025	3.5B
2024	3.49B
2023	3.11B
2022	3.21B
2021	2.82B
2020	2.21B
2019	2.21B
2018	2.02B
2017	1.83B
2016	1.69B

Cash & Debt (SEK)

THULE.ST Cash & Debt (SEK) by year
Period	Cash & Debt (SEK)
2025	218M
2024	405M
2023	94M
2022	176M
2021	149M
2020	706M
2019	268M
2018	186M
2017	581M
2016	763M

Debt ratios

THULE.ST Debt ratios by year
Period	Debt ratios
2025	0.56
2024	0.5
2023	0.26
2022	0.39
2021	0.22
2020	0.07
2019	0.46
2018	0.47

Margins

THULE.ST Margins by year
Period	Margins
2025	45.96%
2024	42.7%
2023	40.92%
2022	38.06%
2021	40.04%
2020	41.25%
2019	40.19%
2018	40.5%
2017	40.89%
2016	40.22%

Return on Capital

THULE.ST Return on Capital by year
Period	Return on Capital
2025	15.4%
2024	13.86%
2023	16.06%
2022	19.43%
2021	30.76%
2020	22.2%
2019	20.37%
2018	20.86%
2017	19.87%
2016	17.67%

Shares Outstanding

THULE.ST Shares Outstanding by year
Period	Shares Outstanding
2025	107.8M
2024	106.4M
2023	105.7M
2022	104.45M
2021	104.45M
2020	104.1M
2019	103.2M
2018	103.2M
2017	102.08M
2016	101M

Dividends (SEK)

THULE.ST Dividends (SEK) by year
Period	Dividends (SEK)
2026	8.3
2025	8.3
2024	9.5
2023	9.2
2022	13
2021	8
2019	7
2018	6
2017	1.7
2016	2.5

Book Value Per Share (SEK)

THULE.ST Book Value Per Share (SEK) by year
Period	Book Value Per Share (SEK)
2025	67.05
2024	76.08
2023	64.8
2022	62.74
2021	55.68
2020	50.46
2019	41.96
2018	38.88
2017	33.96
2016	37.88

Total Assets (SEK)

THULE.ST Total Assets (SEK) by year
Period	Total Assets (SEK)
2025	13.74B
2024	14.96B
2023	10.97B
2022	11.68B
2021	10.19B
2020	8.45B
2019	8.29B
2018	7.7B
2017	7.29B
2016	7.88B

PE Ratio

THULE.ST PE Ratio by year
Period	PE Ratio
Sep 26	19.35
Sep 26	18.86
Sep 26	19.65
Aug 26	19.37
Aug 26	19.76
Aug 26	20.07
Aug 26	20.5
Jul 26	20.69
Jul 26	20.43
Jul 26	20.95
Jul 26	19.42
Jul 26	19.91
Jun 26	20.11
Jun 26	20.11
Jun 26	20.71
Jun 26	20.46
May 26	21.13
May 26	21.95
May 26	22.84
May 26	23.23
Apr 26	22.16
Apr 26	22.66
Apr 26	24.02
Apr 26	22.01
Apr 26	20.46
Mar 26	19.34
Mar 26	20.07
Mar 26	21.62
Mar 26	22.54
Feb 26	23.95
Feb 26	23.69
Feb 26	23.62
Feb 26	22.15
Jan 26	21.74
Jan 26	23.05
Jan 26	24.13
Jan 26	24.32
Jan 26	23.73
Dec 25	24.25
Dec 25	24.21
Dec 25	25.64
Dec 25	25.5
Nov 25	26.01
Nov 25	24.79
Nov 25	25.72
Nov 25	25.12
Oct 25	25.31
Oct 25	26.45
Oct 25	24.21
Oct 25	23.76
Oct 25	24.21
Sep 25	22.99
Sep 25	23.34
Sep 25	24.43
Sep 25	25.58
Aug 25	26.24
Aug 25	28.83
Aug 25	26.87
Aug 25	26.93
Aug 25	26.63
Jul 25	28.57
Jul 25	27.92
Jul 25	27.09
Jul 25	27.35
Jun 25	26.17
Jun 25	24.98
Jun 25	25.15
Jun 25	25.11
May 25	23.97
May 25	23.59
May 25	24.54
May 25	22.65
May 25	21.91
Apr 25	24.81
Apr 25	23.63
Apr 25	23.18
Apr 25	25.05
Mar 25	26.14
Mar 25	28.68
Mar 25	29.66
Mar 25	30.25
Feb 25	30.95
Feb 25	32.08
Feb 25	33.95
Feb 25	32.2
Jan 25	31.45
Jan 25	31.7
Jan 25	30.31
Jan 25	29
Jan 25	30.86
Dec 24	31.55
Dec 24	31.96
Dec 24	32.7
Dec 24	33.77
Nov 24	31.7
Nov 24	32.38
Nov 24	31.98
Nov 24	32.79
Nov 24	33.14
Oct 24	32.29

Free Cash Flow Yield

THULE.ST Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	4.91%
Sep 26	5.04%
Sep 26	4.84%
Aug 26	4.91%
Aug 26	4.81%
Aug 26	4.74%
Aug 26	4.64%
Jul 26	4.6%
Jul 26	4.66%
Jul 26	4.54%
Jul 26	4.9%
Jul 26	4.77%
Jun 26	3.5%
Jun 26	3.5%
Jun 26	3.4%
Jun 26	3.44%
May 26	3.33%
May 26	3.21%
May 26	3.08%
May 26	3.03%
Apr 26	3.18%
Apr 26	3.11%
Apr 26	2.93%
Apr 26	3.2%
Apr 26	3.44%
Mar 26	5.61%
Mar 26	5.41%
Mar 26	5.02%
Mar 26	4.81%
Feb 26	4.53%
Feb 26	4.58%
Feb 26	4.59%
Feb 26	4.9%
Jan 26	4.99%
Jan 26	4.71%
Jan 26	4.5%
Jan 26	4.46%
Jan 26	4.57%
Dec 25	6.1%
Dec 25	6.11%
Dec 25	5.77%
Dec 25	5.8%
Nov 25	5.68%
Nov 25	5.96%
Nov 25	5.75%
Nov 25	5.88%
Oct 25	5.84%
Oct 25	5.59%
Oct 25	6.11%
Oct 25	6.22%
Oct 25	6.11%
Sep 25	6.46%
Sep 25	6.36%
Sep 25	6.08%
Sep 25	5.81%
Aug 25	5.66%
Aug 25	5.15%
Aug 25	5.53%
Aug 25	5.52%
Aug 25	5.58%
Jul 25	5.2%
Jul 25	5.32%
Jul 25	5.48%
Jul 25	5.43%
Jun 25	6.97%
Jun 25	7.3%
Jun 25	7.25%
Jun 25	7.27%
May 25	7.61%
May 25	7.73%
May 25	7.43%
May 25	8.06%
May 25	8.33%
Apr 25	7.35%
Apr 25	7.72%
Apr 25	7.87%
Apr 25	7.28%
Mar 25	6.25%
Mar 25	5.69%
Mar 25	5.51%
Mar 25	5.4%
Feb 25	5.28%
Feb 25	5.09%
Feb 25	4.81%
Feb 25	5.07%
Jan 25	5.19%
Jan 25	5.15%
Jan 25	5.39%
Jan 25	5.63%
Jan 25	5.29%
Dec 24	4.95%
Dec 24	4.89%
Dec 24	4.78%
Dec 24	4.63%
Nov 24	4.93%
Nov 24	4.83%
Nov 24	4.89%
Nov 24	4.77%
Nov 24	4.72%
Oct 24	4.84%

Price to Sales

THULE.ST Price to Sales by year
Period	Price to Sales
Sep 26	2.13
Sep 26	2.08
Sep 26	2.17
Aug 26	2.14
Aug 26	2.18
Aug 26	2.21
Aug 26	2.26
Jul 26	2.28
Jul 26	2.25
Jul 26	2.31
Jul 26	2.14
Jul 26	2.2
Jun 26	2.15
Jun 26	2.15
Jun 26	2.21
Jun 26	2.18
May 26	2.26
May 26	2.34
May 26	2.44
May 26	2.48
Apr 26	2.37
Apr 26	2.42
Apr 26	2.56
Apr 26	2.35
Apr 26	2.18
Mar 26	1.99
Mar 26	2.06
Mar 26	2.22
Mar 26	2.32
Feb 26	2.46
Feb 26	2.43
Feb 26	2.43
Feb 26	2.28
Jan 26	2.23
Jan 26	2.37
Jan 26	2.48
Jan 26	2.5
Jan 26	2.44
Dec 25	2.5
Dec 25	2.5
Dec 25	2.65
Dec 25	2.63
Nov 25	2.68
Nov 25	2.56
Nov 25	2.65
Nov 25	2.59
Oct 25	2.61
Oct 25	2.73
Oct 25	2.5
Oct 25	2.45
Oct 25	2.5
Sep 25	2.56
Sep 25	2.6
Sep 25	2.72
Sep 25	2.85
Aug 25	2.92
Aug 25	3.21
Aug 25	2.99
Aug 25	2.99
Aug 25	2.96
Jul 25	3.18
Jul 25	3.11
Jul 25	3.01
Jul 25	3.04
Jun 25	3.08
Jun 25	2.94
Jun 25	2.96
Jun 25	2.95
May 25	2.82
May 25	2.77
May 25	2.89
May 25	2.66
May 25	2.58
Apr 25	2.92
Apr 25	2.78
Apr 25	2.73
Apr 25	2.95
Mar 25	3.28
Mar 25	3.6
Mar 25	3.72
Mar 25	3.8
Feb 25	3.88
Feb 25	4.02
Feb 25	4.26
Feb 25	4.04
Jan 25	3.95
Jan 25	3.98
Jan 25	3.8
Jan 25	3.64
Jan 25	3.87
Dec 24	3.85
Dec 24	3.89
Dec 24	3.98
Dec 24	4.12
Nov 24	3.86
Nov 24	3.95
Nov 24	3.9
Nov 24	4
Nov 24	4.04
Oct 24	3.94

EV/EBITDA

THULE.ST EV/EBITDA by year
Period	EV/EBITDA
Sep 26	13.6
Sep 26	13.31
Sep 26	13.78
Aug 26	13.61
Aug 26	13.85
Aug 26	14.03
Aug 26	14.28
Jul 26	14.4
Jul 26	14.24
Jul 26	14.55
Jul 26	13.65
Jul 26	13.94
Jun 26	13.85
Jun 26	13.85
Jun 26	14.21
Jun 26	14.06
May 26	14.45
May 26	14.93
May 26	15.45
May 26	15.67
Apr 26	15.05
Apr 26	15.35
Apr 26	16.14
Apr 26	14.96
Apr 26	14.06
Mar 26	14.11
Mar 26	14.56
Mar 26	15.53
Mar 26	16.1
Feb 26	16.97
Feb 26	16.81
Feb 26	16.77
Feb 26	15.86
Jan 26	15.6
Jan 26	16.41
Jan 26	17.09
Jan 26	17.2
Jan 26	16.83
Dec 25	17.79
Dec 25	17.77
Dec 25	18.67
Dec 25	18.58
Nov 25	18.91
Nov 25	18.13
Nov 25	18.72
Nov 25	18.34
Oct 25	18.46
Oct 25	19.18
Oct 25	17.77
Oct 25	17.48
Oct 25	17.77
Sep 25	16.74
Sep 25	16.96
Sep 25	17.64
Sep 25	18.36
Aug 25	18.77
Aug 25	20.38
Aug 25	19.16
Aug 25	19.2
Aug 25	19.01
Jul 25	20.22
Jul 25	19.82
Jul 25	19.3
Jul 25	19.46
Jun 25	19.2
Jun 25	18.43
Jun 25	18.54
Jun 25	18.51
May 25	17.78
May 25	17.53
May 25	18.14
May 25	16.92
May 25	16.44
Apr 25	18.32
Apr 25	17.56
Apr 25	17.26
Apr 25	18.48
Mar 25	16.83
Mar 25	18.43
Mar 25	19.04
Mar 25	19.41
Feb 25	19.85
Feb 25	20.56
Feb 25	21.74
Feb 25	20.64
Jan 25	20.17
Jan 25	20.32
Jan 25	19.45
Jan 25	18.63
Jan 25	19.8
Dec 24	20.79
Dec 24	21.05
Dec 24	21.51
Dec 24	22.19
Nov 24	20.89
Nov 24	21.32
Nov 24	21.06
Nov 24	21.57
Nov 24	21.79
Oct 24	21.26

Price/Operating Cashflow

THULE.ST Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	14.8
Sep 26	14.43
Sep 26	15.03
Aug 26	14.82
Aug 26	15.12
Aug 26	15.35
Aug 26	15.69
Jul 26	15.83
Jul 26	15.63
Jul 26	16.03
Jul 26	14.86
Jul 26	15.24
Jun 26	19.79
Jun 26	19.79
Jun 26	20.38
Jun 26	20.13
May 26	20.8
May 26	21.6
May 26	22.48
May 26	22.86
Apr 26	21.81
Apr 26	22.3
Apr 26	23.64
Apr 26	21.66
Apr 26	20.13
Mar 26	13.95
Mar 26	14.47
Mar 26	15.59
Mar 26	16.25
Feb 26	17.27
Feb 26	17.08
Feb 26	17.04
Feb 26	15.97
Jan 26	15.68
Jan 26	16.62
Jan 26	17.4
Jan 26	17.54
Jan 26	17.11
Dec 25	14.42
Dec 25	14.39
Dec 25	15.24
Dec 25	15.16
Nov 25	15.47
Nov 25	14.74
Nov 25	15.29
Nov 25	14.94
Oct 25	15.05
Oct 25	15.72
Oct 25	14.39
Oct 25	14.12
Oct 25	14.39
Sep 25	13.25
Sep 25	13.46
Sep 25	14.09
Sep 25	14.75
Aug 25	15.13
Aug 25	16.62
Aug 25	15.49
Aug 25	15.53
Aug 25	15.36
Jul 25	16.48
Jul 25	16.1
Jul 25	15.62
Jul 25	15.77
Jun 25	12.71
Jun 25	12.13
Jun 25	12.22
Jun 25	12.2
May 25	11.64
May 25	11.46
May 25	11.92
May 25	11
May 25	10.64
Apr 25	12.05
Apr 25	11.48
Apr 25	11.26
Apr 25	12.17
Mar 25	14.06
Mar 25	15.42
Mar 25	15.95
Mar 25	16.27
Feb 25	16.64
Feb 25	17.25
Feb 25	18.26
Feb 25	17.32
Jan 25	16.91
Jan 25	17.05
Jan 25	16.3
Jan 25	15.6
Jan 25	16.59
Dec 24	17.34
Dec 24	17.57
Dec 24	17.97
Dec 24	18.56
Nov 24	17.43
Nov 24	17.8
Nov 24	17.58
Nov 24	18.02
Nov 24	18.22
Oct 24	17.75

Price to Book

THULE.ST Price to Book by year
Period	Price to Book
Sep 26	2.81
Sep 26	2.74
Sep 26	2.86
Aug 26	2.82
Aug 26	2.87
Aug 26	2.92
Aug 26	2.98
Jul 26	3.01
Jul 26	2.97
Jul 26	3.05
Jul 26	2.82
Jul 26	2.9
Jun 26	3.1
Jun 26	3.1
Jun 26	3.19
Jun 26	3.15
May 26	3.25
May 26	3.38
May 26	3.52
May 26	3.58
Apr 26	3.41
Apr 26	3.49
Apr 26	3.7
Apr 26	3.39
Apr 26	3.15
Mar 26	2.79
Mar 26	2.89
Mar 26	3.12
Mar 26	3.25
Feb 26	3.45
Feb 26	3.41
Feb 26	3.41
Feb 26	3.19
Jan 26	3.13
Jan 26	3.32
Jan 26	3.48
Jan 26	3.51
Jan 26	3.42
Dec 25	3.58
Dec 25	3.57
Dec 25	3.78
Dec 25	3.76
Nov 25	3.84
Nov 25	3.66
Nov 25	3.8
Nov 25	3.71
Oct 25	3.73
Oct 25	3.9
Oct 25	3.57
Oct 25	3.51
Oct 25	3.57
Sep 25	3.27
Sep 25	3.32
Sep 25	3.48
Sep 25	3.64
Aug 25	3.74
Aug 25	4.1
Aug 25	3.83
Aug 25	3.83
Aug 25	3.79
Jul 25	4.07
Jul 25	3.98
Jul 25	3.86
Jul 25	3.89
Jun 25	3.63
Jun 25	3.46
Jun 25	3.49
Jun 25	3.48
May 25	3.32
May 25	3.27
May 25	3.4
May 25	3.14
May 25	3.04
Apr 25	3.44
Apr 25	3.28
Apr 25	3.21
Apr 25	3.47
Mar 25	4.35
Mar 25	4.77
Mar 25	4.93
Mar 25	5.03
Feb 25	5.15
Feb 25	5.33
Feb 25	5.65
Feb 25	5.35
Jan 25	5.23
Jan 25	5.27
Jan 25	5.04
Jan 25	4.82
Jan 25	5.13
Dec 24	5.13
Dec 24	5.2
Dec 24	5.32
Dec 24	5.49
Nov 24	5.15
Nov 24	5.26
Nov 24	5.2
Nov 24	5.33
Nov 24	5.39
Oct 24	5.25

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Thule Group AB (publ)

Video analysis: THULE.ST

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