Navigo Invest AB (publ) NAVIGO.STAM
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Full analysis: 4 Aug 2026
General analysis — not personal advice.
NEUTRAL
6/10
Confidence
Existing position can be maintained pending further NAV updates.
Mixed recommendations across sources and structural complexity around preference shares support the review signal.
Market sentiment
7/10
↑
Trend: Improving
The market reacts positively to the operational turnaround and high organic growth.
Price context
The share trades around 3.12 SEK after +46 percent over twelve months and sits near its 52-week high, partly reflecting improved profitability but still a significant discount to reported net asset value.
Risk assessment
5/10
Dilution:
Medium
Possible preference share set-off issue
Jurisdiction:
Low
Operations in Sweden
Execution:
Medium
Dependent on portfolio company delivery
About the company
Navigo Invest is an investment company that acquires and develops small and medium-sized unlisted companies in Sweden. It builds hub companies through add-on acquisitions in industry, energy and services. Operations are driven by organic growth and value creation in the portfolio.
Sector:
Investment company
Type:
Finance
Next report
6 Nov 2026
Q3
Catalysts
6 Nov 2026
Q3 2026 report
High
Horizon:
Bull case
Strong organic growth and improved profitability in the portfolio companies continue to lift net asset value.
Bear case
Complex preference share structure and dilution risks limit value transfer to ordinary shareholders.
Sensitivity analysis
| Factor | If it weakens | If it strengthens |
|---|---|---|
| Organic growth in hub companies | Growth below 20 percent → lower EBITDA and slower NAV increase. | Growth above 25 percent → faster margin improvement and higher net asset value. |
| Net asset value per ordinary share | NAV growth below 10 percent → persistent high discount and weaker sentiment. | NAV growth above 15 percent → reduced NAV discount and increased interest. |
We monitor these factors. Follow the company to get email when any of them hit.
Signal rationale (informational)
Mixed recommendations across sources and structural complexity around preference shares support the review signal.
Recent news
- The Q2 report showed record organic growth and operating profit. Net asset value per ordinary share rose 15 percent over rolling twelve months. The AGM approved preference share dividends and set-off rights.
Key figures
Revenue
Q2 2026
SEK 193M
EBITDA
Q2 2026
SEK 41.2M
Net income
Q2 2026
SEK 22.1M
Cash
Q2 2026
SEK 105M
Shares outstanding
Q2 2026
86.7M
EPS
Q2 2026
SEK 0.25
Price & valuation
Last close
SEK 3.25
Market Cap
SEK 282M
1 week
+2.2 %
3 months
+8.7 %
12 months
+54.0 %
From 52w high
-7.4 %
From 52w low
+73.8 %
Exchange
First North
Type
Finance
Sector
Investment company
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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.