Kinnevik KINV B
This picture changes. Follow Kinnevik free — email when the signal or risk changes + a Sunday weekly brief.
Follow Kinnevik freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
Full analysis: 6 Apr 2026
Latest news check: 2 Aug 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Wait or keep only a small tracking position; add only if NAV stabilizes in Q2 and/or Kinnevik delivers tangible portfolio actions/exits that validate marks and clarifies permanent CEO leadership.
Large NAV discount and strong net cash provide resilience, but uncertainty around unlisted valuations and execution keeps the signal at hold.
Market sentiment
5/10
↑
Trend: Improving
Sentiment has improved modestly following the CEO transition, yet the market remains skeptical of unlisted portfolio valuations.
Price context
The share trades at 52.52 SEK, representing a discount of roughly 51 % to the reported NAV of 107 SEK per share. This reflects deep market skepticism toward the unlisted assets.
Risk assessment
8/10
Dilution:
Low
Strong net cash and low leverage
Jurisdiction:
Low
Sweden/EU/US, low political risk
Execution:
High
Private valuation uncertainty and leadership transition
Cash flow:
36 mo
Recent changes
- Kinnevik reported NAV of SEK 107/share (+6% QoQ, -17% H1) and net cash of SEK 7.4bn, alongside agreed disposals (Oda/YouScan) and cost-cut initiatives. Management changes include a new CEO on Aug 1 and the CFO leaving…
The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.
Show all changes (6) — follow the company freeAbout the company
Kinnevik is a Swedish investment company focused on listed and private growth businesses, mainly in digital health, software/SaaS, marketplaces and climate tech. The portfolio is growing operationally, but uncertainty around private valuations and recent write-downs have pressured the share price. The balance sheet is net-cash strong, yet the company needs to validate NAV through exits and more stable marks.
Sector:
Investment company (growth/venture in tech, health, software and climate)
Type:
Finance
Next report
15 Oct 2026
Q3
Catalysts
15 Oct 2026
CFO transition and new IR head
High
Sep 2026
Oda/YouScan divestments
Medium
Q3 2026
Q3 report
Medium
Horizon:
Bull case
New CEO may improve capital allocation and discipline, potentially narrowing the discount to NAV.
Bear case
Skepticism toward unlisted valuations persists and the company lacks a stable cash-generating anchor.
Signal rationale (informational)
Large NAV discount and strong net cash provide resilience, but uncertainty around unlisted valuations and execution keeps the signal at hold.
Recent news
- Helena Saxon assumed the CEO role on 1 August 2026. Board member Camilla Giesecke made an insider purchase. Samuel Sjöström is leaving as CFO at the end of August; Caspar Sjöstrand becomes interim CFO and Hannah Björk new IR director from 1 September. The share closed at 52.52 SEK.
Price & valuation
Last close
SEK 57.24
1 week
+4.6 %
3 months
+11.0 %
12 months
-35.0 %
From 52w high
-36.5 %
From 52w low
+20.2 %
Exchange
Stockholm
Type
Finance
Sector
Investment company (growth/venture in tech, health, software and climate)
This picture changes. Follow Kinnevik free — email when the signal or risk changes + a Sunday weekly brief.
Follow 3 companies freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.