Karnov Group AB (publ)
STO:KAR

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Karnov Group AB (publ) Logo
Karnov Group AB (publ)
STO:KAR
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Price: 78.7 SEK -1.13% Market Closed
Market Cap: 8.5B SEK
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Intrinsic Value

The intrinsic value of one KAR stock under the Base Case scenario is 62.12 SEK. Compared to the current market price of 78.7 SEK, Karnov Group AB (publ) is Overvalued by 21%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

KAR Intrinsic Value
62.12 SEK
Overvaluation 21%
Intrinsic Value
Price
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Base Case
Best Case

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Karnov Group AB (publ)

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Karnov Group AB (publ)

Current Assets 1B
Cash & Short-Term Investments 494.3m
Receivables 437m
Other Current Assets 89.4m
Non-Current Assets 6.5B
Long-Term Investments 60m
PP&E 224.9m
Intangibles 6B
Other Non-Current Assets 175.9m
Current Liabilities 1.9B
Accounts Payable 73.1m
Accrued Liabilities 454.6m
Other Current Liabilities 1.4B
Non-Current Liabilities 3.2B
Long-Term Debt 2.7B
Other Non-Current Liabilities 464.8m
Efficiency

Earnings Waterfall
Karnov Group AB (publ)

Revenue
2.5B SEK
Cost of Revenue
-355.3m SEK
Gross Profit
2.2B SEK
Operating Expenses
-2B SEK
Operating Income
149.3m SEK
Other Expenses
-114.3m SEK
Net Income
35m SEK

Free Cash Flow Analysis
Karnov Group AB (publ)

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Karnov Group reports strong Q1 2024 with net sales growing by 3% to SEK 632 million. Region North drove organic growth with a 15% increase in online sales, leading to robust margins. Region South saw flat sales but benefited from product rationalization and Spanish sales force optimization. The adjusted EBITDA margin was 23%, with synergies of EUR 5 million achieved from integration and acceleration initiatives. The company aims for EUR 7.5 million in annual run-rate synergies by the end of 2024. Major tailwinds include complex legal environments and generative AI, positioning Karnov for future growth.

What is Earnings Call?
Fundamental Scores

KAR Profitability Score
Profitability Due Diligence

Karnov Group AB (publ)'s profitability score is 55/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional 3-Years Revenue Growth
Positive Free Cash Flow
Exceptional 1-Year Revenue Growth
55/100
Profitability
Score

Karnov Group AB (publ)'s profitability score is 55/100. The higher the profitability score, the more profitable the company is.

KAR Solvency Score
Solvency Due Diligence

Karnov Group AB (publ)'s solvency score is 37/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Average D/E
Short-Term Solvency
Positive Net Debt
37/100
Solvency
Score

Karnov Group AB (publ)'s solvency score is 37/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

KAR Price Targets Summary
Karnov Group AB (publ)

Wall Street analysts forecast KAR stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for KAR is 98.6 SEK with a low forecast of 95.95 SEK and a high forecast of 105 SEK.

Lowest
Price Target
95.95 SEK
22% Upside
Average
Price Target
98.6 SEK
25% Upside
Highest
Price Target
105 SEK
33% Upside
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Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
Very
Unsafe
Unsafe
Safe
Very
Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for KAR is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Highest
Buyback Yield
Lowest
Average
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Debt Paydown Yield
Lowest
Average
Highest

Ownership

KAR Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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Profile

Karnov Group AB (publ) Logo
Karnov Group AB (publ)

Country

Sweden

Industry

Media

Market Cap

8.5B SEK

Dividend Yield

0%

Description

Karnov Group AB engages in the provision of information in the areas of legal; tax and accounting; and environmental, health and safety. The company is headquartered in Stockholm, Stockholm and currently employs 297 full-time employees. The company went IPO on 2019-04-11. The firm specializes in the areas of legal, tax and accounting, and environmental, health and safety. The company provides a range of products and services through its portfolio of brands to public and private customers, such as different kind of firms, courts, universities, public authorities and municipalities, among others. The company operates across two main segments: Online sales and Offline sales and services. The Online sales segment provides subscription-based digital solutions and support. The Offline sales and services segment publishes and sells printed books and journals and hosts legal training courses.

Contact

STOCKHOLM
Stockholm
Warfvinges vag 39
+46858767000.0
www.karnovgroup.com

IPO

2019-04-11

Employees

297

Officers

Group CEO & President
Mr. Pontus Bodelsson
Chief Financial Officer
Mr. Magnus Hansson
Group Chief Technology Officer
Jan Ullerup
Head of Investor Relations & Board Secretary
Mr. Erik Berggren
Group Chief Human Resources Officer
Ms. Charlotte Arup
Group Head of Content Strategy & Quality
Ms. Anne Nørvang Hansen
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Chief Executive Officer of Region North (Denmark and Sweden)
Ms. Alexandra Ă…quist
Chief Strategic Development Officer
Mr. Niels Munk Hansen
Chief Emerging Ventures and M&A Officer
Jonathan Minzari
Chief Executive Officer of Region South (France, Spain, Portugal)
Guillaume Deroubaix
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See Also

Discover More
What is the Intrinsic Value of one KAR stock?

The intrinsic value of one KAR stock under the Base Case scenario is 62.12 SEK.

Is KAR stock undervalued or overvalued?

Compared to the current market price of 78.7 SEK, Karnov Group AB (publ) is Overvalued by 21%.

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