2026 Q3 - tulosraportti
12 päivää sitten
‧30 min
1,65 SEK/osake
Viimeisin osinko
2,57%Tuotto/v
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 215 | ||
| 1 109 | ||
| 182 | ||
| 210 | ||
| 1 005 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 29.1.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 20.10. | ||
2026 Q2 - tulosraportti 10.7. | ||
2026 Q1 - tulosraportti 17.4. | ||
2025 Q4 - tulosraportti 30.1. | ||
2025 Q3 - tulosraportti 24.10.2025 |
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
·26.10.Outlook for Q4 2026 and 2027 I have now entered the numbers from the last quarter into a model and arrived at an expected revenue growth of 8% in Q4, with an EPS of -0.41 SEK. This implies that 2026 will end with an EPS of around 5.0 SEK, a total revenue growth of 3.7%, and a dividend of 2.5 SEK. Q4 2026 – expected revenue growth of 8%: The growth estimate is based on two relatively simple calculation methods, both yielding approximately the same result: Method 1 – historical relationship between Q3 and Q4 By adjusting the historical revenue figures for currency changes and assortment changes (categories corresponding to about 2% of revenue were removed starting from Q3 2025), we find that revenue in Q4 has historically been between 51% and 54% of revenue in Q3. The share has been higher in recent years, particularly in periods of underlying growth. Based on 54%, calculating the development separately for the various countries and adjusting for the fact that NOK/SEK is now close to 5% higher than the average in Q3 2026, I arrive at an expected revenue of 1,142 MSEK. This corresponds to approximately 8% growth from Q4 2025. Method 2 – underlying growth and currency effect An alternative approach is to start from the comparable growth (like-for-like) of 5.1% in Q3 2026 and add an expected positive currency effect of around 3.4% in Q4 2026 compared to Q4 2025. This method also points towards a revenue growth of around 8%. Both methods assume that the current exchange rate remains stable through the end of the year. What does 8% growth mean for EPS? The more uncertain question is what earnings effect this growth will have. In Q4 2025, EPS was -0.80 SEK. With 8% revenue growth, the result should be clearly better, but it is difficult to estimate the improvement with great precision. Claude estimates an EPS of between -0.25 and -0.50 SEK, which is close to my own calculations. I see -0.25 SEK as a realistic outcome, but choose to base my work on a more conservative estimate of around -0.41 SEK. Thus, I expect 2026 to close with a total annual EPS of 5.0 SEK, while revenue increases by 3.7% for the year as a whole. 2027 – expected EPS of 7 SEK For 2027, for the sake of simplicity, I assume that the underlying revenue growth continues at around 5%. At the same time, there are several factors that should contribute positively to earnings, beyond just revenue growth: Baseline EPS: 5.15 SEK Reduction of outstanding shares by 1.5%: +0.10 SEK Lower net debt and reduced interest costs: +0.20 SEK Lower depreciation due to fully depreciated investments related to new stores from 2021: +0.40 SEK Positive currency effect, assuming current SEK/NOK rate: +0.15 SEK Earnings effect from continued revenue growth of around 5%: +1.00 SEK Expected EPS 2027: 7.00 SEK Regarding the growth contribution, I estimate that revenue growth in 2026 will contribute about 1 SEK in EPS compared to 2025. I assume a corresponding effect in 2027. In total, this gives an expected EPS of 7 SEK in 2027. - With a share price of 63 SEK, this corresponds to a forward P/E of: 63 / 7 = 9.0 If we adjust for an expected dividend of 2.50 SEK in May 2027, the dividend-adjusted price becomes 60.50 SEK, and thus: 60.5 / 7 = P/E 8.65 For comparison, Byggmax has had an average P/E of around 12.3 over the last ten years, if we disregard 2023 and 2024. These two years yield little meaning, and very high, P/E figures due to very low EPS. A normalization of valuation from 8.65 to 12.3 corresponds to an increase of about 42%, or a share price of around 86 SEK after dividend. Including the dividend, this corresponds to a total value of close to 89 SEK per share. In other words, the calculations point to a price of around 90 SEK per share, given that the company delivers as expected and the market once again prices the share close to its historical average. - I believe this is a relatively conservative estimate. The model assumes no significant acceleration in underlying growth, but rather a continuation of the trend we already see. At the same time, several positive earnings effects come from reduced debt, lower depreciation, share buybacks, and currency. Naturally, there is uncertainty associated with both growth, margins, and valuation, but as I assess it, the probability of earnings being better than my base case appears higher than the probability of them being weaker – at least if we exclude larger, potential external economic shocks. With an expected EPS of 7 SEK in 2027 and a forward P/E of around 8.65, I therefore believe that Byggmax still appears reasonably valued vs. historical average ratios, with a realistic upside towards 90 SEK. When using traditional valuation formulas, we arrive – as in previous posts – at an intrinsic value in excess of 100. Again: This is simply to reproduce my own thoughts around this, and it is no buy recommendation. Do your own analyses, and feel free to share your thoughts in the forum.
·20.10.It will be interesting to hear the new target prices after today's report.They will probably be changed quite a lot. Today's report shouldn't really have changed anything at all, though; It was quite obvious what was coming, had the analysts just calculated it. But for all that, better late than never.- ·20.10.Fantastic numbers from Byggmax today: Revenue growth of 7.1 % and net income growth of 18 %. EPS of 3.84 SEK in Q3 alone, against a share price of 55 SEK. In addition, a share buyback program corresponding to approx. 2 % of outstanding shares is being initiated. Applause for the company management! The result is, incidentally, almost exactly in line with the expectations I calculated here early in September. The underlying earnings are in my view even stronger than the reported figures suggest. The company still has significant depreciation related to investments in new stores up until 2021. As these depreciations phase out, I calculate an isolated positive EPS effect of approx. 0.7 SEK in 2027 and 1.1 SEK from 2028, compared to the depreciation level in 2025. Expect a solid share price rise today, even though we know that price and value do not always go hand in hand.Yes! Finally! What do you think now about the EPS for the year, after this quarter?
- ·11.9.https://e24.no/naeringsliv/i/3pwlvv/maxbo-legger-ned-fire-varehus Byggmax has warehouses at two of the four locations; Mandal and Trondheim (Not at Dokka and in Nesbyen.) If we assume that these two locations account for 2/211 = approx. 1% of Byggmax's revenue, each 10% increase in revenue there due to less competition will contribute to 0.1% annual growth for the company overall. For example, if revenue here is raised by 20%, we get 0.2% increased annual growth in Byggmax. Not huge numbers, but everything helps - and interesting to see that competitors are closing down while Byggmax is opening (reopened Stenungssund in June, and will open one more warehouse in Stockholm by 2026.)
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
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2026 Q3 - tulosraportti
12 päivää sitten
‧30 min
1,65 SEK/osake
Viimeisin osinko
2,57%Tuotto/v
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·26.10.Outlook for Q4 2026 and 2027 I have now entered the numbers from the last quarter into a model and arrived at an expected revenue growth of 8% in Q4, with an EPS of -0.41 SEK. This implies that 2026 will end with an EPS of around 5.0 SEK, a total revenue growth of 3.7%, and a dividend of 2.5 SEK. Q4 2026 – expected revenue growth of 8%: The growth estimate is based on two relatively simple calculation methods, both yielding approximately the same result: Method 1 – historical relationship between Q3 and Q4 By adjusting the historical revenue figures for currency changes and assortment changes (categories corresponding to about 2% of revenue were removed starting from Q3 2025), we find that revenue in Q4 has historically been between 51% and 54% of revenue in Q3. The share has been higher in recent years, particularly in periods of underlying growth. Based on 54%, calculating the development separately for the various countries and adjusting for the fact that NOK/SEK is now close to 5% higher than the average in Q3 2026, I arrive at an expected revenue of 1,142 MSEK. This corresponds to approximately 8% growth from Q4 2025. Method 2 – underlying growth and currency effect An alternative approach is to start from the comparable growth (like-for-like) of 5.1% in Q3 2026 and add an expected positive currency effect of around 3.4% in Q4 2026 compared to Q4 2025. This method also points towards a revenue growth of around 8%. Both methods assume that the current exchange rate remains stable through the end of the year. What does 8% growth mean for EPS? The more uncertain question is what earnings effect this growth will have. In Q4 2025, EPS was -0.80 SEK. With 8% revenue growth, the result should be clearly better, but it is difficult to estimate the improvement with great precision. Claude estimates an EPS of between -0.25 and -0.50 SEK, which is close to my own calculations. I see -0.25 SEK as a realistic outcome, but choose to base my work on a more conservative estimate of around -0.41 SEK. Thus, I expect 2026 to close with a total annual EPS of 5.0 SEK, while revenue increases by 3.7% for the year as a whole. 2027 – expected EPS of 7 SEK For 2027, for the sake of simplicity, I assume that the underlying revenue growth continues at around 5%. At the same time, there are several factors that should contribute positively to earnings, beyond just revenue growth: Baseline EPS: 5.15 SEK Reduction of outstanding shares by 1.5%: +0.10 SEK Lower net debt and reduced interest costs: +0.20 SEK Lower depreciation due to fully depreciated investments related to new stores from 2021: +0.40 SEK Positive currency effect, assuming current SEK/NOK rate: +0.15 SEK Earnings effect from continued revenue growth of around 5%: +1.00 SEK Expected EPS 2027: 7.00 SEK Regarding the growth contribution, I estimate that revenue growth in 2026 will contribute about 1 SEK in EPS compared to 2025. I assume a corresponding effect in 2027. In total, this gives an expected EPS of 7 SEK in 2027. - With a share price of 63 SEK, this corresponds to a forward P/E of: 63 / 7 = 9.0 If we adjust for an expected dividend of 2.50 SEK in May 2027, the dividend-adjusted price becomes 60.50 SEK, and thus: 60.5 / 7 = P/E 8.65 For comparison, Byggmax has had an average P/E of around 12.3 over the last ten years, if we disregard 2023 and 2024. These two years yield little meaning, and very high, P/E figures due to very low EPS. A normalization of valuation from 8.65 to 12.3 corresponds to an increase of about 42%, or a share price of around 86 SEK after dividend. Including the dividend, this corresponds to a total value of close to 89 SEK per share. In other words, the calculations point to a price of around 90 SEK per share, given that the company delivers as expected and the market once again prices the share close to its historical average. - I believe this is a relatively conservative estimate. The model assumes no significant acceleration in underlying growth, but rather a continuation of the trend we already see. At the same time, several positive earnings effects come from reduced debt, lower depreciation, share buybacks, and currency. Naturally, there is uncertainty associated with both growth, margins, and valuation, but as I assess it, the probability of earnings being better than my base case appears higher than the probability of them being weaker – at least if we exclude larger, potential external economic shocks. With an expected EPS of 7 SEK in 2027 and a forward P/E of around 8.65, I therefore believe that Byggmax still appears reasonably valued vs. historical average ratios, with a realistic upside towards 90 SEK. When using traditional valuation formulas, we arrive – as in previous posts – at an intrinsic value in excess of 100. Again: This is simply to reproduce my own thoughts around this, and it is no buy recommendation. Do your own analyses, and feel free to share your thoughts in the forum.
- ·20.10.It will be interesting to hear the new target prices after today's report.They will probably be changed quite a lot. Today's report shouldn't really have changed anything at all, though; It was quite obvious what was coming, had the analysts just calculated it. But for all that, better late than never.
- ·20.10.Fantastic numbers from Byggmax today: Revenue growth of 7.1 % and net income growth of 18 %. EPS of 3.84 SEK in Q3 alone, against a share price of 55 SEK. In addition, a share buyback program corresponding to approx. 2 % of outstanding shares is being initiated. Applause for the company management! The result is, incidentally, almost exactly in line with the expectations I calculated here early in September. The underlying earnings are in my view even stronger than the reported figures suggest. The company still has significant depreciation related to investments in new stores up until 2021. As these depreciations phase out, I calculate an isolated positive EPS effect of approx. 0.7 SEK in 2027 and 1.1 SEK from 2028, compared to the depreciation level in 2025. Expect a solid share price rise today, even though we know that price and value do not always go hand in hand.Yes! Finally! What do you think now about the EPS for the year, after this quarter?
- ·11.9.https://e24.no/naeringsliv/i/3pwlvv/maxbo-legger-ned-fire-varehus Byggmax has warehouses at two of the four locations; Mandal and Trondheim (Not at Dokka and in Nesbyen.) If we assume that these two locations account for 2/211 = approx. 1% of Byggmax's revenue, each 10% increase in revenue there due to less competition will contribute to 0.1% annual growth for the company overall. For example, if revenue here is raised by 20%, we get 0.2% increased annual growth in Byggmax. Not huge numbers, but everything helps - and interesting to see that competitors are closing down while Byggmax is opening (reopened Stenungssund in June, and will open one more warehouse in Stockholm by 2026.)
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 215 | ||
| 1 109 | ||
| 182 | ||
| 210 | ||
| 1 005 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 29.1.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 20.10. | ||
2026 Q2 - tulosraportti 10.7. | ||
2026 Q1 - tulosraportti 17.4. | ||
2025 Q4 - tulosraportti 30.1. | ||
2025 Q3 - tulosraportti 24.10.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Dataa ei löytynyt
2026 Q3 - tulosraportti
12 päivää sitten
‧30 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 29.1.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 20.10. | ||
2026 Q2 - tulosraportti 10.7. | ||
2026 Q1 - tulosraportti 17.4. | ||
2025 Q4 - tulosraportti 30.1. | ||
2025 Q3 - tulosraportti 24.10.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
1,65 SEK/osake
Viimeisin osinko
2,57%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·26.10.Outlook for Q4 2026 and 2027 I have now entered the numbers from the last quarter into a model and arrived at an expected revenue growth of 8% in Q4, with an EPS of -0.41 SEK. This implies that 2026 will end with an EPS of around 5.0 SEK, a total revenue growth of 3.7%, and a dividend of 2.5 SEK. Q4 2026 – expected revenue growth of 8%: The growth estimate is based on two relatively simple calculation methods, both yielding approximately the same result: Method 1 – historical relationship between Q3 and Q4 By adjusting the historical revenue figures for currency changes and assortment changes (categories corresponding to about 2% of revenue were removed starting from Q3 2025), we find that revenue in Q4 has historically been between 51% and 54% of revenue in Q3. The share has been higher in recent years, particularly in periods of underlying growth. Based on 54%, calculating the development separately for the various countries and adjusting for the fact that NOK/SEK is now close to 5% higher than the average in Q3 2026, I arrive at an expected revenue of 1,142 MSEK. This corresponds to approximately 8% growth from Q4 2025. Method 2 – underlying growth and currency effect An alternative approach is to start from the comparable growth (like-for-like) of 5.1% in Q3 2026 and add an expected positive currency effect of around 3.4% in Q4 2026 compared to Q4 2025. This method also points towards a revenue growth of around 8%. Both methods assume that the current exchange rate remains stable through the end of the year. What does 8% growth mean for EPS? The more uncertain question is what earnings effect this growth will have. In Q4 2025, EPS was -0.80 SEK. With 8% revenue growth, the result should be clearly better, but it is difficult to estimate the improvement with great precision. Claude estimates an EPS of between -0.25 and -0.50 SEK, which is close to my own calculations. I see -0.25 SEK as a realistic outcome, but choose to base my work on a more conservative estimate of around -0.41 SEK. Thus, I expect 2026 to close with a total annual EPS of 5.0 SEK, while revenue increases by 3.7% for the year as a whole. 2027 – expected EPS of 7 SEK For 2027, for the sake of simplicity, I assume that the underlying revenue growth continues at around 5%. At the same time, there are several factors that should contribute positively to earnings, beyond just revenue growth: Baseline EPS: 5.15 SEK Reduction of outstanding shares by 1.5%: +0.10 SEK Lower net debt and reduced interest costs: +0.20 SEK Lower depreciation due to fully depreciated investments related to new stores from 2021: +0.40 SEK Positive currency effect, assuming current SEK/NOK rate: +0.15 SEK Earnings effect from continued revenue growth of around 5%: +1.00 SEK Expected EPS 2027: 7.00 SEK Regarding the growth contribution, I estimate that revenue growth in 2026 will contribute about 1 SEK in EPS compared to 2025. I assume a corresponding effect in 2027. In total, this gives an expected EPS of 7 SEK in 2027. - With a share price of 63 SEK, this corresponds to a forward P/E of: 63 / 7 = 9.0 If we adjust for an expected dividend of 2.50 SEK in May 2027, the dividend-adjusted price becomes 60.50 SEK, and thus: 60.5 / 7 = P/E 8.65 For comparison, Byggmax has had an average P/E of around 12.3 over the last ten years, if we disregard 2023 and 2024. These two years yield little meaning, and very high, P/E figures due to very low EPS. A normalization of valuation from 8.65 to 12.3 corresponds to an increase of about 42%, or a share price of around 86 SEK after dividend. Including the dividend, this corresponds to a total value of close to 89 SEK per share. In other words, the calculations point to a price of around 90 SEK per share, given that the company delivers as expected and the market once again prices the share close to its historical average. - I believe this is a relatively conservative estimate. The model assumes no significant acceleration in underlying growth, but rather a continuation of the trend we already see. At the same time, several positive earnings effects come from reduced debt, lower depreciation, share buybacks, and currency. Naturally, there is uncertainty associated with both growth, margins, and valuation, but as I assess it, the probability of earnings being better than my base case appears higher than the probability of them being weaker – at least if we exclude larger, potential external economic shocks. With an expected EPS of 7 SEK in 2027 and a forward P/E of around 8.65, I therefore believe that Byggmax still appears reasonably valued vs. historical average ratios, with a realistic upside towards 90 SEK. When using traditional valuation formulas, we arrive – as in previous posts – at an intrinsic value in excess of 100. Again: This is simply to reproduce my own thoughts around this, and it is no buy recommendation. Do your own analyses, and feel free to share your thoughts in the forum.
- ·20.10.It will be interesting to hear the new target prices after today's report.They will probably be changed quite a lot. Today's report shouldn't really have changed anything at all, though; It was quite obvious what was coming, had the analysts just calculated it. But for all that, better late than never.
- ·20.10.Fantastic numbers from Byggmax today: Revenue growth of 7.1 % and net income growth of 18 %. EPS of 3.84 SEK in Q3 alone, against a share price of 55 SEK. In addition, a share buyback program corresponding to approx. 2 % of outstanding shares is being initiated. Applause for the company management! The result is, incidentally, almost exactly in line with the expectations I calculated here early in September. The underlying earnings are in my view even stronger than the reported figures suggest. The company still has significant depreciation related to investments in new stores up until 2021. As these depreciations phase out, I calculate an isolated positive EPS effect of approx. 0.7 SEK in 2027 and 1.1 SEK from 2028, compared to the depreciation level in 2025. Expect a solid share price rise today, even though we know that price and value do not always go hand in hand.Yes! Finally! What do you think now about the EPS for the year, after this quarter?
- ·11.9.https://e24.no/naeringsliv/i/3pwlvv/maxbo-legger-ned-fire-varehus Byggmax has warehouses at two of the four locations; Mandal and Trondheim (Not at Dokka and in Nesbyen.) If we assume that these two locations account for 2/211 = approx. 1% of Byggmax's revenue, each 10% increase in revenue there due to less competition will contribute to 0.1% annual growth for the company overall. For example, if revenue here is raised by 20%, we get 0.2% increased annual growth in Byggmax. Not huge numbers, but everything helps - and interesting to see that competitors are closing down while Byggmax is opening (reopened Stenungssund in June, and will open one more warehouse in Stockholm by 2026.)
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 215 | ||
| 1 109 | ||
| 182 | ||
| 210 | ||
| 1 005 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Välittäjätilasto
Dataa ei löytynyt