Fact based stock research
Kinnevik (OM:KINV B)
SE0015810247
How to read the free ranks
For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.
Kinnevik stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 26 (worse than 74% compared with investment alternatives), Kinnevik (Multi-Sector Holdings, Sweden) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Kinnevik are low in value (priced high) with a consolidated Value Rank of 25 (worse than 75% of alternatives) and show below-average growth (Growth Rank of 31) but are safely financed (Safety Rank of 69), which means low debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 26, is a hold recommendation based on Kinnevik's financial characteristics. As the company Kinnevik's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 25) and low growth (Obermatt Growth Rank of 31), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 69) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: Kinnevik
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 48 |
|
50 |
|
65 |
|
25 |
|
| GROWTH | ||||||||
| GROWTH | 21 |
|
19 |
|
49 |
|
31 |
|
| SAFETY | ||||||||
| SAFETY | 74 |
|
64 |
|
73 |
|
69 |
|
| SENTIMENT | ||||||||
| SENTIMENT | n/a |
|
29 |
|
1 |
|
new |
|
| 360° VIEW | ||||||||
| 360° VIEW | n/a |
|
25 |
|
42 |
|
new |
|
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 26 (worse than 74% compared with investment alternatives), Kinnevik (Multi-Sector Holdings, Sweden) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Kinnevik are low in value (priced high) with a consolidated Value Rank of 25 (worse than 75% of alternatives) and show below-average growth (Growth Rank of 31) but are safely financed (Safety Rank of 69), which means low debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 26, is a hold recommendation based on Kinnevik's financial characteristics. As the company Kinnevik's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 25) and low growth (Obermatt Growth Rank of 31), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 69) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 48 |
|
50 |
|
65 |
|
25 |
|
| GROWTH | ||||||||
| GROWTH | 21 |
|
19 |
|
49 |
|
31 |
|
| SAFETY | ||||||||
| SAFETY | 74 |
|
64 |
|
73 |
|
69 |
|
| COMBINED | ||||||||
| COMBINED | 41 |
|
42 |
|
84 |
|
26 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 25 (worse than 75% compared with alternatives), Kinnevik shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators where three out of four are below average for Kinnevik. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 100, which means that the stock price is lower compared with invested capital than for 100% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 8 which means the stock price compared with what market professionals expect for future profits is higher than 92% of comparable companies, indicating a low value concerning Kinnevik's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 100 and for the dividend yields rank which is lower than for 99% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 25, is a hold recommendation based on Kinnevik's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Kinnevik, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more
| VALUE METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| PRICE VS. REVENUES (P/S) | ||||||||
| PRICE VS. REVENUES (P/S) | 52 |
|
3 |
|
46 |
|
8 |
|
| PRICE VS. PROFITS (P/E) | ||||||||
| PRICE VS. PROFITS (P/E) | 90 |
|
31 |
|
84 |
|
31 |
|
| PRICE VS. CAPITAL (Market-to-Book) | ||||||||
| PRICE VS. CAPITAL (Market-to-Book) | 56 |
|
93 |
|
96 |
|
100 |
|
| DIVIDEND YIELD | ||||||||
| DIVIDEND YIELD | 1 |
|
59 |
|
1 |
|
1 |
|
| CONSOLIDATED RANK: VALUE | ||||||||
| CONSOLIDATED RANK: VALUE | 48 |
|
50 |
|
65 |
|
25 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 31 (better than 31% compared with alternatives), Kinnevik shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for Kinnevik. While Sales Growth ranks at 98, professionals currently expect the company to grow more than 98% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 27, which means that, currently, professionals expect the company to grow its profits less than 73% of its competitors, and Capital Growth has a low rank of 25. Historic stock returns were also below average with a current Stock Returns rank of 5 which means that the stock returns have recently been below 95% of alternative investments. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 31, is a hold recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more
| GROWTH METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| REVENUE GROWTH | ||||||||
| REVENUE GROWTH | 10 |
|
15 |
|
92 |
|
98 |
|
| PROFIT GROWTH | ||||||||
| PROFIT GROWTH | 100 |
|
75 |
|
92 |
|
27 |
|
| CAPITAL GROWTH | ||||||||
| CAPITAL GROWTH | n/a |
|
1 |
|
4 |
|
25 |
|
| STOCK RETURNS | ||||||||
| STOCK RETURNS | 58 |
|
47 |
|
8 |
|
5 |
|
| CONSOLIDATED RANK: GROWTH | ||||||||
| CONSOLIDATED RANK: GROWTH | 21 |
|
19 |
|
49 |
|
31 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 69 (better than 69% compared with alternatives), the company Kinnevik has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Kinnevik is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Kinnevik. Leverage is at a rank of 69, meaning the company has a below-average debt-to-equity ratio. It has less debt than 69% of its competitors. Liquidity is also good at a rank of 61, meaning the company generates more profit to service its debt than 61% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 21, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 79% of its competitors. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 69 (better than 69% compared with alternatives), Kinnevik has a financing structure that is safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Kinnevik. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Kinnevik and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more
| SAFETY METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| LEVERAGE | ||||||||
| LEVERAGE | 65 |
|
77 |
|
73 |
|
69 |
|
| REFINANCING | ||||||||
| REFINANCING | 31 |
|
3 |
|
11 |
|
21 |
|
| LIQUIDITY | ||||||||
| LIQUIDITY | 100 |
|
64 |
|
78 |
|
61 |
|
| CONSOLIDATED RANK: SAFETY | ||||||||
| CONSOLIDATED RANK: SAFETY | 74 |
|
64 |
|
73 |
|
69 |
|
Sentiment Metrics in Detail
| SENTIMENT | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| ANALYST OPINIONS | ||||||||
| ANALYST OPINIONS | n/a |
|
1 |
|
7 |
|
new |
|
| OPINIONS CHANGE | ||||||||
| OPINIONS CHANGE | n/a |
|
50 |
|
1 |
|
new |
|
| PRO HOLDINGS | ||||||||
| PRO HOLDINGS | n/a |
|
82 |
|
15 |
|
new |
|
| MARKET PULSE | ||||||||
| MARKET PULSE | n/a |
|
26 |
|
42 |
|
new |
|
| CONSOLIDATED RANK: SENTIMENT | ||||||||
| CONSOLIDATED RANK: SENTIMENT | n/a |
|
29 |
|
1 |
|
new |
|
Free stock analysis by the purely fact based Obermatt Method for Kinnevik from December 26, 2024.
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