Thule Group AB (publ) (STO:THULE)

Thule Group AB Financials Overview

Financials in millions SEK. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	10,431	10,429	9,541	9,132	10,138	10,386
Revenue Growth	1.55%	9.31%	4.48%	-9.92%	-2.39%	32.68%
Gross Profit Gross Profit Growth	4,879	4,794	4,074	3,737	3,859	4,160
Operating Income Operating Income Growth	1,799	1,664	1,616	1,499	1,702	2,323
Net Income Net Income Growth	1,245	1,114	1,122	1,099	1,275	1,790
Earnings Per Share EPS Growth	11.54	10.33	10.59	10.44	12.12	16.95
EPS Growth	17.57%	-2.46%	1.44%	-13.86%	-28.50%	51.20%

Revenue by Geography

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rest of World Rest of World Growth	37	60	50	46	45	45
Sweden Sweden Growth	-	332	335	327	334	458
Other Nordic Countries Other Nordic Countries Growth	-	381	330	283	349	463
Germany Germany Growth	-	2,248	2,468	2,470	2,431	2,338
Other Europe Other Europe Growth	-	4,083	3,542	3,237	3,585	3,777
USA USA Growth	-	1,961	1,849	1,847	2,247	2,221
Other North America Other North America Growth	-	514	432	415	608	570
Central/South America Central/South America Growth	-	158	180	181	171	152
Asia/Pacific Rim Asia/Pacific Rim Growth	-	692	355	326	367	363
Total Total Growth	10,431	10,429	9,541	9,132	10,137	10,387

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	934	218	405	94	176	149
Total Debt Total Debt Growth	4,438	4,274	4,378	2,174	3,090	1,639
Net Cash (Debt) Net Cash Growth	-3,504	-4,056	-3,973	-2,080	-2,914	-1,490
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-32.49	-37.61	-37.51	-19.76	-27.71	-14.11

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	1,695	1,132	2,310	1,850	616	1,128
Capital Expenditures CapEx Growth	-400	-348	-264	-251	-443	-505
Free Cash Flow Free Cash Flow Growth	1,295	784	2,046	1,599	173	623
Free Cash Flow Growth	13.10%	-61.68%	27.96%	824.28%	-72.23%	-56.95%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	46.77%	45.97%	42.70%	40.92%	38.06%	40.05%
Operating Margin	17.25%	15.96%	16.94%	16.41%	16.79%	22.37%
Pretax Margin	15.66%	14.13%	15.17%	15.55%	16.26%	22.17%
Profit Margin	11.94%	10.68%	11.76%	12.04%	12.58%	17.23%
FCF Margin	12.41%	7.52%	21.44%	17.51%	1.71%	6.00%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 1, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	8.300	8.300	8.300	9.500	9.200	13.000
Dividend Per Share Growth	0%	0%	-12.63%	3.26%	-29.23%	62.50%
Dividend Yield	4.25%	3.46%	2.43%	3.46%	4.23%	2.37%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 1, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	16.92	23.21	32.83	26.41	17.85	32.01
Forward PE	15.20	19.78	23.02	22.20	19.81	32.90
P/FCF Ratio	16.25	32.98	18.01	18.15	131.58	91.98
PS Ratio	2.02	2.48	3.86	3.18	2.25	5.52

Data Source: S&P Global Market Intelligence Last updated: Oct 22, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 28, 2026

Data Sources Report a data error