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    Storskogen Group (OM:STOR B) Stock Faces Margin Questions After Profit Rebound

    Simply Wall St·08/11/2026 23:38:42
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    Storskogen Group stock closed at SEK10.82 today after a flat week and a strong 30 day run. Yet the real story sits inside the fresh Q2 print. The company delivered net sales of SEK8.86b and adjusted earnings before interest, tax and amortisation of SEK864m, with margin holding close to 10% despite a tougher backdrop in parts of Services and Trade.

    For you as an investor, the short term price action now meets a longer term question. Can this mix of organic growth, steady margins and a 3.4% net profit margin support a multi year recovery narrative, especially given the pressure from that earlier SEK1.7b one off loss?

    Is Storskogen Group at SEK10.82 a clear mispricing or just optically cheap after that SEK1.7b one off loss and a 16x P/E against a DCF mark of SEK32.01? Compare the current share price, earnings power and implied upside against our detailed valuation analysis for Storskogen Group.

    Q2 2026 Earnings Summary

    • Revenue Q2 2026: SEK 8,861m vs. Q2 2025 SEK 8,452m (up about 5%)
    • Net Income Q2 2026: SEK 350m vs. Q2 2025 SEK 224m (up about 56%)
    • Basic EPS Q2 2026: SEK 0.21 vs. Q2 2025 SEK 0.13 (up about 58%)
    • Adjusted EBITA Margin Q2 2026: 9.7% vs. Q2 2025 around 10.0% (broadly stable after adjusting for prior year one off)

    Tired of wrestling with dense earnings tables and long quarterly reports? View Storskogen Group's full financial picture in a simple visual format, including how its valuation compares today, through the company report for Storskogen Group.

    OM:STOR B Trailing 12-Month Revenue & Expenses Breakdown as at Aug 2026
    OM:STOR B Trailing 12-Month Revenue & Expenses Breakdown as at Aug 2026

    Storskogen Group: Growth Story Starts To Hit Real Milestones

    The bullish story around Storskogen Group rests on three things: organic growth returning, margins holding up, and a cleaner balance sheet giving room for smarter capital allocation. Q2 ticks several of those boxes. Net sales grew about 5% with organic growth around the same level, and adjusted EBITA rose while the margin stayed close to 10%. That supports the idea that Storskogen can grow without sacrificing profitability.

    The thesis also leans heavily on Industry and higher quality M&A doing more of the heavy lifting. Here the data lines up. Industry was the strongest area with higher sales, organic EBITA growth and better margins. Four acquisitions in Q2 and the Verdant AS deal in July show M&A is actually happening, not just promised. Rolling cash conversion at 74% and leverage at 2.4x EBITDA suggest the balance sheet is now in the zone management has been targeting.

    Compare how this mix of organic growth, close to 10% adjusted EBITA margin and tighter leverage stacks up against what the street is pricing in. See the consensus price target analysis for Storskogen Group to check whether analyst targets line up with the current SEK10.82 share price.

    Storskogen Group: Bears Still See Execution Gaps

    The core bearish worry around Storskogen Group is that industrial underutilisation, patchy integration and a tilt back to acquisitions could cap earnings quality and cash generation. Q2 shows Industry with solid order books and margin improvement, which goes against the idea of a structurally weak industrial base. However, group adjusted EBITA margin is flat at 9.7% and rolling cash conversion has slipped to 74%, down from 80% a year ago. That tempers the recovery story.

    On integration and capital allocation, four new deals in Q2 and the Verdant AS acquisition in July arrive just as leverage sits at 2.4x EBITDA, near the top of management’s ceiling. Services and parts of Trade remain exposed to weak construction and health and beauty destocking. The earnings print shows progress, but it does not yet clear the bearish milestones on sustained margin expansion, higher cash conversion and lower financial risk.

    After one off losses, softer cash conversion and leverage near the ceiling, you might ask whether these are isolated issues or part of a deeper pattern. Review our structured risk analysis for Storskogen Group which shows 1 important warning sign

    Stay Ahead With Simply Wall St

    If Storskogen Group's mix of a SEK10.82 share price, a 16x P/E against a DCF mark of SEK32.01 and that earlier SEK1.7b one off loss has your attention, register for free with Simply Wall St and add it to a Watchlist to track price against fair value and watch how the thesis develops. When you decide to take or adjust a position, use the Portfolio Command Center to cut through noise and keep on top of the most important updates across all your holdings. For a broader view on sentiment and possible blind spots, plug into the Community and see how other investors are thinking about Storskogen Group and similar stocks. That way you can surface hidden catalysts and risks early and give yourself the best chance to stay ahead of the market.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.