Kinnevik AB

Kinnevik AB

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Market Cap$3.08B
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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Kinnevik ABKinnevik AB-2.5--20%-0.50.1

Earnings Call Q3 2026

October 15, 2026 - AI Summary

NAV / returns / liquidity (headline snapshot) - Net asset value (NAV): NOK 29.8bn at Q3 end (SEK 108/share), +1% vs Q2. - Shareholder return: Kinnevik B delivered 19% TSR in the quarter. - Capital activity: Invested SEK 165m, divested DKK 183m; quarter-end net cash position: SEK 7.4bn (supports flexibility for future investments/transformation).
Valuation drivers: “stable overall, but multiples & calibration matter” (good + bad) - No change in valuation methodology/process vs prior quarters (companies are valued using broad peer groups, adjusted for growth, profitability, scale and outlook). - NAV was stable; main positives were growth and currency. - Negatives: multiples compressed / did not follow public peers fully, particularly because several peer subsectors (notably transactional software/value-based care) declined and because Kinnevik sometimes did not follow peers 1:1 when forecasting looked less certain. - Also wrote down Climate Tech Holdings (Stegra) to zero value (major negative).
Largest holdings: where the quarter was steady vs marked down - Spring Health & Perk: both continued to grow strongly; fair values broadly unchanged. - Spring Health: cited as ~$1bn forward revenues and maintaining profitability (post Alma acquisition). Valuation unchanged because lower multiples offset earnings/currency tailwinds. - Perk: growth and currency helped, but lower software multiples pulled valuations down relative to peer developments. - Value uplift (surprise/positive): Enveda and Tandem rounds lifted values roughly +30% to +35%. - Muse, Oviva, Pleo: decreased in value mainly due to forward-expectation/multiple calibration (not described as major demand collapse). Kinnevik emphasized “no material downgrades” (investor reassurance).

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$4.82

Current Fair Value

56.6% downside

Overvalued by 56.6% based on the discounted cash flow analysis.

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Share Statistics

Market cap$3.08 Billion
Enterprise Value$-7,364,233,058.00
Earnings per Share$-16.96
Beta1.25
Outstanding Shares276,972,664

Return

Return on Equity-19.62%ROE
Return on Assets-15.26%
Return on Invested Capital-17.48%

Valuation & Multiples

P/E Ratio-2.46P/E Ratio
PEG3.48PEG
Price to Sales-0.48Price to Sales
Price to Book Ratio0.08Price to Book Ratio
Enterprise Value to Revenue-2.4
Enterprise Value to EBIT-1.69
Enterprise Value to Net Income0
Total Debt to Enterprise0.24
Debt to Equity0.09Debt to Equity

Revenue Sources

No data

Institutional Sentiment (Put/Call)

No data available for the latest quarter.

Institutional Ownership

No data available for the latest quarter.

About Kinnevik AB

45 employees
CEO: Helena Ildiko Saxon

Kinnevik AB, previously operating as Investment AB Kinnevik, is a venture capital firm dedicated to supplying growth capital. Its preferred sectors include digital consumer businesses, education, communication, e-commerce, marketplaces, ...