Karnell Group - Public Comps and Valuation Multiples

Karnell Group Overview

About Karnell Group

Karnell Group AB is a company that is an active owner of industrial technology companies. The Company’s business concept is to use systematic and proactive acquisition strategies to identify and invest in industrial technology companies where Karnell believes there is development potential and thus an opportunity for value creation with Karnell as a long-term owner. It consists of twelve directly owned group companies, with subsidiaries, divided into two business areas that include Product companies and Niche manufacturers. The business area Product companies consists of companies that wholly or predominantly base their business on proprietary products, which may include various rights such as trademarks, patents, etc.

Founded

2016

HQ

Employees

673

Website

karnell.se

Sectors

Asset Management

Financials

LTM Revenue $177M

LTM EBITDA $33.2M

EV

$448M

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Karnell Group Financials

As of November 2025, Karnell Group reported last 12-month revenue of $177M and EBITDA of $33.2M.

In the same period, Karnell Group achieved $14.4M in LTM net income.

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Karnell Group P&L

In the most recent fiscal year, Karnell Group reported revenue of $149M and EBITDA of $25.1M.

Karnell Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$177M	XXX	$149M	XXX	XXX	XXX
Gross Profit	n/a	XXX	$52.6M	XXX	XXX	XXX
Gross Margin	n/a	XXX	35%	XXX	XXX	XXX
EBITDA	$33.2M	XXX	$25.1M	XXX	XXX	XXX
EBITDA Margin	19%	XXX	17%	XXX	XXX	XXX
EBIT	$21.7M	XXX	$16.0M	XXX	XXX	XXX
EBIT Margin	12%	XXX	11%	XXX	XXX	XXX
Net Profit	$14.4M	XXX	$8.2M	XXX	XXX	XXX
Net Margin	8%	XXX	6%	XXX	XXX	XXX
Net Debt	XXX	XXX	$18.5M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Karnell Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $177M. EBITDA for the last twelve months was $33.2M. In the most recent fiscal year, Karnell Group achieved $149M in revenue and $25.1M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$177M	Analyst estimates available to subscribers	$149M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$52.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	35.4% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$33.2M	Analyst estimates available to subscribers	$25.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	18.8% EBITDA margin	Analyst estimates available to subscribers	16.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$21.7M	Analyst estimates available to subscribers	$16.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	12.3% EBIT margin	Analyst estimates available to subscribers	10.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$14.4M	Analyst estimates available to subscribers	$8.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	8.1% net profit margin	Analyst estimates available to subscribers	5.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$18.5M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Karnell Group

This financial data table provides comprehensive performance metrics for Karnell Group, a company based in Sweden. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Karnell Group generated $177M in revenue over the last twelve months.
The company achieved $33.2M in EBITDA over the last twelve months.
Net income over the last twelve months reached $14.4M.

Fiscal Year Performance

In the most recent fiscal year, Karnell Group reported $149M in total revenue.
Fiscal year EBITDA was $25.1M.
The company maintained a gross profit margin of 35.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 16.9%.
Net profit margin reached 5.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Karnell Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Karnell Group Stock Performance

Karnell Group has current market cap of SEK 3.7B (or $388M), and EV of SEK 4.2B (or $448M).

Market Cap Evolution

Karnell Group Stock Data

As of December 5, 2025, Karnell Group's stock price is SEK 69 (or $7).

See Karnell Group trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$448M	$388M	XXX	XXX	XXX	XXX	$0.26

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Karnell Group Valuation Multiples

Karnell Group's trades at 3.0x EV/Revenue multiple, and 17.9x EV/EBITDA.

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Karnell Group Financial Valuation Multiples

As of December 5, 2025, Karnell Group has market cap of $388M and EV of $448M.

Equity research analysts estimate Karnell Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Karnell Group has a P/E ratio of 27.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$388M	XXX	$388M	XXX	XXX	XXX
EV (current)	$448M	XXX	$448M	XXX	XXX	XXX
EV/Revenue	2.5x	XXX	3.0x	XXX	XXX	XXX
EV/EBITDA	13.5x	XXX	17.9x	XXX	XXX	XXX
EV/EBIT	20.6x	XXX	28.0x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	27.0x	XXX	47.2x	XXX	XXX	XXX
EV/FCF	-37.7x	XXX	34.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Karnell Group Margins & Growth Rates

Karnell Group's last 12 month revenue growth is 5%

Karnell Group's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Karnell Group's rule of 40 is 25% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Karnell Group's rule of X is 30% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Karnell Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	12%	XXX	XXX	XXX
EBITDA Margin	19%	XXX	17%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	9%	XXX	XXX	XXX
Rule of 40	25%	XXX	21%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	30%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	25%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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