Clas Ohlson AB (publ) (CLAS-B.ST) | Investment Case

1. Company Snapshot

1.a. Company Description

Clas Ohlson AB (publ) operates as a retail company in Sweden and internationally.It offers hardware, electrical, multimedia, home, and leisure products, as well as spare parts and accessories.The company sells its products through its stores, as well as online.

It operates 229 stores, which include 96 in Sweden, 92 in Norway, 40 in Finland, and 1 in the United Kingdom.The company was founded in 1918 and is headquartered in Insjön, Sweden.

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1.b. Last Insights on CLAS

Clas Ohlson AB (publ) has reported a strong start to the fiscal year, driven by significant sales growth and improved profitability. Q1 sales rose to SEK 2,814.5 million, up from SEK 2,623.2 million year-over-year, with net income increasing to SEK 207.7 million from SEK 145.8 million. The company's online growth was particularly notable, despite challenges in certain markets. The robust earnings performance was fueled by a solid operational performance.

1.c. Company Highlights

Last Price	361
Change Percentage	-4.55%
Open	377
Previous Close	378.2
Market Cap ( Millions)	22902
Volume	94205
Year High	397.6
Year Low	203.6
M A 50	355.06
M A 200	314.15

FCF Yield	7.57%
Dividend Yield	1.56%
ROE	40.39%
Debt / Equity	71.80%
Net Debt / EBIDTA	34.43%
Price To Book	8.73
Price Earnings Ratio	24.27
Price To FCF	13.21
Price To sales	1.94
EV / EBITDA	14.27

2. Transcript Summary

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3. NewsRoom

Clas Ohlson (OM:CLAS B) Reports Q1 Sales Growth To SEK 2,814 Million

Sep -11

Source:

Clas Ohlson AB (STU:OHCB) Q1 2026 Earnings Call Highlights: Strong Growth in Sales and Profitability

Sep -11

Source:

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Jun -03

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.00%)

6. Segments

Home and Hardware Retail

Expected Growth: 8%

Clas Ohlson's 8% growth in Home and Hardware Retail is driven by increasing demand for home improvement and DIY products, strategic store expansions, and effective e-commerce integration. Additionally, the company's focus on sustainability and energy-efficient solutions resonates with environmentally conscious consumers, contributing to its growth momentum.

7. Detailed Products

Home and Furniture

Clas Ohlson offers a wide range of home and furniture products, including kitchen utensils, home decor, and furniture for living rooms, bedrooms, and dining rooms.

Electronics

Clas Ohlson sells a variety of electronic products, including TVs, laptops, smartphones, and gaming consoles from top brands.

Home Security and Safety

Clas Ohlson provides a range of home security and safety products, including alarms, cameras, and safety equipment.

Gardening and Outdoor

Clas Ohlson sells a variety of gardening and outdoor products, including tools, plants, and outdoor furniture.

Kitchen and Dining

Clas Ohlson offers a range of kitchen and dining products, including cookware, cutlery, and tableware.

Health and Beauty

Clas Ohlson sells a range of health and beauty products, including skincare, haircare, and wellness products.

8. Clas Ohlson AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

Clas Ohlson AB (publ) operates in the retail industry, where substitutes are readily available. However, the company's strong brand recognition and customer loyalty mitigate the threat of substitutes.

Bargaining Power Of Customers

Clas Ohlson AB (publ) operates in a competitive market, where customers have many options. The company's customers have significant bargaining power, which can affect prices and profit margins.

Bargaining Power Of Suppliers

Clas Ohlson AB (publ) has a diversified supplier base, which reduces the bargaining power of individual suppliers. The company's large scale of operations also gives it negotiating power with suppliers.

Threat Of New Entrants

The retail industry has moderate barriers to entry, and new entrants can pose a threat to Clas Ohlson AB (publ). However, the company's established brand and scale of operations provide some protection.

Intensity Of Rivalry

The retail industry is highly competitive, and Clas Ohlson AB (publ) faces intense rivalry from established players. The company must continually innovate and improve its offerings to maintain market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	56.63%
Debt Cost	4.72%
Equity Weight	43.37%
Equity Cost	9.51%
WACC	6.80%
Leverage	130.58%

11. Quality Control: Clas Ohlson AB (publ) passed 4 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Clas Ohlson

A-Score: 5.7/10

Value: 3.2

Growth: 6.2

Quality: 7.1

Yield: 5.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

New Wave Group

A-Score: 5.7/10

Value: 4.2

Growth: 7.1

Quality: 6.2

Yield: 6.9

Momentum: 5.5

Volatility: 4.0

1-Year Total Return ->

Betterware de México

A-Score: 5.5/10

Value: 5.4

Growth: 5.6

Quality: 5.5

Yield: 10.0

Momentum: 5.0

Volatility: 1.3

1-Year Total Return ->

Card Factory

A-Score: 5.4/10

Value: 8.5

Growth: 4.2

Quality: 6.5

Yield: 3.8

Momentum: 6.0

Volatility: 3.3

1-Year Total Return ->

Matas

A-Score: 5.0/10

Value: 6.4

Growth: 6.2

Quality: 3.5

Yield: 2.5

Momentum: 5.0

Volatility: 6.7

1-Year Total Return ->

Mobilezone

A-Score: 4.8/10

Value: 6.0

Growth: 2.9

Quality: 4.2

Yield: 9.4

Momentum: 1.5

Volatility: 5.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-3.10%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.80%

Clas Ohlson AB (publ) - SE0000584948

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on CLAS

1.c. Company Highlights

Strong Momentum

Lower Growth

Fairly Valued

Earnings Miss

Revenues Beats

Earnings Beats

Medium Volatility

Average Growth

Average Quality

Revenues Miss

Better Quality

Expensive

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.00%)

6. Segments

Home and Hardware Retail

Expected Growth: 8%

7. Detailed Products

Home and Furniture

Electronics

Home Security and Safety

Gardening and Outdoor

Kitchen and Dining

Health and Beauty

8. Clas Ohlson AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Clas Ohlson AB (publ) passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

361.0$

Current Price

361$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA