Investor
Investor AB (INVE B) – Stock Analysis June 2026
Investor AB is a Swedish industrial holding company headquartered in Stockholm, founded in 1916, that holds long-term stakes in leading companies such as ABB, AstraZeneca, Atlas Copco, Ericsson, and SEB.
The stock is considered a defensive anchor of stability in the portfolio and has recently delivered solid results.
## 1. P/E Ratio (Trailing & Forward)
| Metric | Value | Comment |
|---|---|---|
| Trailing P/E (2024) | ~8.3x | Based on EPS of SEK 37.00
| Trailing P/E (2025) | ~9.7x | Based on EPS of SEK 51.42
| Forward P/E (2026e) | N/A | Estimates pending
| P/B | ~1.0–1.1x | Moderately valued |
The P/E ratio fluctuates significantly, as Investor AB, being a holding company, experiences substantial valuation changes in its portfolio. The valuation of ~9x is considered attractive relative to the sector
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## 2. Earnings per Share (EPS) – Growth Trend
| Year | EPS (SEK) | Change |
|---|---|---|
| 2021 | 74.41 | +332% vs. 2020 |
| 2022 | −24.38 | Loss year (market correction) |
| 2023 | 41.48 | Recovery |
| 2024 | 37.00 | −11%
| 2025 | 51.42 | +39% (record year)
EPS shows a highly volatile but positive long-term trend. 2025 was a record year: Net profit rose to SEK 157.5 billion, up from SEK 113.3 billion the previous year.
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## 3. EBIT & EBIT Margin
| Year | EBIT (SEK billion) | EBIT Margin |
|---|---|---|
| 2021 | 229 | ~86% |
| 2022 | −66 | negative |
| 2023 | 133 | ~72% |
| 2024 | 122 | ~69%
| 2025 (Q1 2026 basis) | 165 | ~74%
The high EBIT margins (70–87%) are attributable to the company’s nature as a holding company: “Revenue” consists largely of investment income and dividend inflows from its portfolio companies [6]. In Q1 2026, adjusted NAV rose by 3% to SEK 1,125 billion
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## 4. Dividend
| Key figure | Value |
|---|---|
| Dividend 2025 (paid in 2026) | 5.60 SEK/share
| Dividend 2026e | 5.975 SEK/share |
| 2027e Dividend | SEK 6.385/share
| Current Yield (2026e) | ~1.6–2.0% [3][10] |
| Average Dividend Growth (10 yr.) | **8% p.a.** ] |
| Payout Ratio (2021) | ~5.4% – very low
The dividend is paid in two installments: SEK 4.00 in May and SEK 1.60 in November 2026 [8]. The sustained growth of 8% p.a. over a decade is remarkable.
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## 5. Price History & Performance
| Period | Performance |
|---|---|
| 1 year (through Jan. 2026) | **+20.6%**
| 5 years | **+105.4%** [11] |
| TSR 2025 (full year) | **+15%**
| TSR Q1 2026 | **+7%**
| 52-week high | ~34.53 EUR
| 52-week low | ~22.48 EUR
The stock has delivered exceptional performance over the past 5 years, significantly outperforming many European benchmarks [11]. The recovery from 2023 to 2026 was steep and stable.
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## 6. Analyst Opinions & Price Targets
Of 13 analysts,
**8 recommend buying**,
4 recommend holding, and
1 recommends selling
The average price target is approximately **332–414 SEK** depending on the source.
The total return since the beginning of 2026 is already **+7%** (as of Q1)
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## Overall Rating: *
*Fairly valued with upside potential**
Investor AB is one of Europe’s highest-quality holding companies with an excellent track record. Its portfolio of global corporations (ABB, AstraZeneca, Atlas Copco, etc.) offers broad diversification
The P/E ratio of ~9–10x appears **attractive to fair** given the stable NAV growth (+14% in 2025) and disciplined dividend growth of 8% p.a.
Risks include valuation sensitivity to the overall market as well as rising energy and freight costs, which could have a delayed impact
**Fair value (estimate based on analyst consensus):** approx. **330–415 SEK / ~32–40 EUR** per share [12][13] — at the current price of ~33–34 EUR, we are in the fair range with moderate upside potential.
