Why Munters Group stock moves
Munters Group was broadly flat.
Written after the close on ·
Why today
15,984 news analyzed todayMunters Group was broadly flat.
Over that session the wider Stockholm market fell clearly, so Munters held up better than the index.
No company news from the last session explains a move, because the stock barely changed on an ordinary day.
Over the last five trading days, Munters fell clearly while the Stockholm 30 index was roughly unchanged.
Earlier news likely weighed on it, including a cut to profit forecasts (sänks) despite a strong report, and rising short positions.
Today's move of +0.19% was 0.1 times a normal day's 1.5%. OMX Stockholm 30 moved −1.01% on the same day.
Munters Group +0.19%OMX Stockholm 30 −1.01%A little stronger than the market
What analysts expect, and how often they have been right
Analysts’ estimates for Munters Group.
Munters Group earned more than expected in 1 out of 8 reports.
For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.
The share moved in the same direction as the earnings surprise in 3 out of 8 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 128.95 SEK
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expectedSEK
Next reported quarter: expected earnings per share of 1.75 SEK (January 28). For the current fiscal year, expected earnings per share changed from 6.10 SEK three months ago to 4.84 SEK now. 2026 estimate: 4.84 SEK. 2027 estimate: 9.64 SEK. People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor. August 10: Buy about 371 thousand SEK. July 29: Buy about 211 thousand SEK. July 24: Buy about 144 thousand SEK. July 23: Buy about 456 thousand SEK. July 20: Buy about 8 thousand EUR.
Has the share price followed the business?
Price and earnings moved in the same direction: 3 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed −8% and earnings per share went from 5.33 SEK to 0.58 SEK.
Revenue, profit and market cap
RevenueProfitMarket capHatched bars: analysts’ estimates.bn SEK
Assets, liabilities and market cap
AssetsLiabilitiesMarket capbn SEK
Price and earnings moved in the same direction: 3 out of 3 years.Market cap (Now): 23.5 bn SEKRevenue 2025: 14.7 bn SEK
What the key figures say about Munters Group
The figures connect what Munters Group earns with what investors pay.
The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.
Profit divided by the number of shares. Each share represents this much of the earnings.
2022–2025: 0.58 SEK–5.33 SEK. Peers: OEM International 5.09 SEK, Bufab 4.10 SEK, Plug Power -$1.31. 2026 estimate: 4.84 SEK (4.68 SEK–4.95 SEK). 2027 estimate: 9.64 SEK (7.97 SEK–10.90 SEK).
What the company sold during the year.
2022–2025: 10.4 bn SEK–14.7 bn SEK. Peers: OEM International 5.9 bn SEK, Bufab 8.7 bn SEK, Plug Power $744M. 2026 estimate: 16.9 bn SEK (16.6 bn SEK–17.5 bn SEK). 2027 estimate: 22.1 bn SEK (21.2 bn SEK–23.5 bn SEK).
The percentage of revenue left after the costs of running the business.
2022–2025: 8.7%–13.5%. Peers: OEM International 14.7%, Bufab 13.6%, Plug Power −67.5%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: 2.2%–16.5%. Peers: OEM International 24.7%, Bufab 18.3%, Plug Power −145.0%.
The price investors pay for each unit of annual earnings per share. Not shown for a loss.
2022–2025: 32.5–296.4. Peers: OEM International 32.4, Bufab 32.0. 2026 estimate: 26.6. 2027 estimate: 13.4.
What investors pay for each unit the company sells.
2022–2025: 1.80–2.50. Peers: OEM International 3.85, Bufab 2.86, Plug Power 2.72. 2026 estimate: 1.39. 2027 estimate: 1.06.
Money paid to shareholders per share, summed by calendar year.
2018–2025: 0.00 SEK–1.60 SEK.
The ordinary yearly dividend as a percentage of the share price.
2022–2025: 0.6%–0.9%. Peers: OEM International 1.1%, Bufab 1.0%, Plug Power 0.0%.
Net debt divided by operating earnings before depreciation and amortisation.
2022–2025: 2.10–3.26. Peers: OEM International -0.18, Bufab 2.64.
More key figures
Market cap divided by shareholders’ equity, what remains after liabilities.
2022–2025: 3.53–6.46. Peers: OEM International 8.53, Bufab 5.45, Plug Power 3.49.
Market cap plus net debt, divided by operating earnings. This includes debt.
2022–2025: 21.7–31.0.
Cash left after investments, divided by the number of shares.
2022–2025: 1.28 SEK–7.29 SEK. Peers: OEM International 2.13 SEK, Bufab 5.43 SEK, Plug Power -$0.40.
The percentage of assets financed by shareholders’ equity.
2022–2025: 24.6%–34.9%.
The dividend explained
A dividend is money paid to shareholders. Munters Group paid 1.60 SEK per share in the twelve months through November 6, 2026.
On the ex-dividend day, November 4, 2026, Munters Group traded without the right to the 0.80 SEK dividend. The price went from 143.85 SEK to 134.40 SEK; including the dividend, the day's change was −6.0%. Entitlement passes from the company to shareholders on the ex-day; payment comes later.
2018: 0.30 SEK2019: 0.00 SEK2020: 0.00 SEK2021: 0.70 SEK2022: 0.85 SEK2023: 0.95 SEK2024: 1.30 SEK2025: 1.60 SEK2026 so far: 1.60 SEK
What followed similar falls?
Including reinvested dividends, Munters Group fell 6.3% over the latest five trading days. Since May 19, 2017, falls at least this large were followed by a higher value 21 trading days later in 31 out of 54 non-overlapping periods. The median was +4.2%, against +1.1% for an ordinary 21-day period, which ended higher 54 times in 100.
Such a fall has not said much about the next month.
+4.2% · 31/54
What to watch next, and why
The earnings report shows how Munters Group's revenue and profit have changed.
- Earnings report
The earnings report shows how Munters Group's revenue and profit have changed.
Add to calendar
More about Munters Group
Insider trades
People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor.
- Grete Solvang Stoltz, senior executiveBuyabout 371 thousand SEK
- Henrik Teiwik, senior executiveBuyabout 211 thousand SEK
- Henrik Teiwik, senior executiveBuyabout 144 thousand SEK
- Katharina Fischer, CFOBuyabout 456 thousand SEK
- Elizabeth Carey, board memberBuyabout 8 thousand EUR
Earnings report
Next report: · Add to calendar · Google Calendar
On its last 15 report days Munters Group usually moved about 5.0%. On a normal day it moves 1.5%.
+4.04% Why? +9.39% −2.16% +2.41%
10,000 SEK in Munters Group bought on May 19, 2017 is worth 20,800 SEK today, with dividends reinvested.
The same amount in OMX Stockholm 30 with dividends would have become 25,900 SEK.
What would 10,000 SEK in Munters Group be worth today? →
What would 10,000 SEK in Munters Group be worth today?
20,800 SEK
with dividends reinvested, bought on May 19, 2017. The same amount in OMX Stockholm 30 with dividends would have become 25,900 SEK.
At worst it was worth 3,590 SEK (March 23, 2020).
The five biggest days of the journey
· +23.7% · the whole market rose 1.1% the same day · report day
· +22.4% · the whole market fell 0.6% the same day · report day
· +16.7% · the whole market rose 0.9% the same day · report day
· −15.9% · the whole market fell 0.4% the same day · report day
· −15.9% · the whole market fell 1.2% the same day · report day
Earlier days
−6.27% market −0.11% Munters Group fell clearly over the week while the Stockholm 30 index was roughly flat. Read →
Munters Group fell clearly over the week while the Stockholm 30 index was roughly flat.
The most likely driver was a cut to its earnings forecasts on Thursday 5 November, even though the report itself was strong.
Analysts stayed positive, which limited the drop.
The next earnings report is due Thursday 28 January 2027.
−4.24% market −0.32% Munters Group fell sharply without company news. Read →
Munters Group fell sharply without company news.
Over the last five trading days it fell sharply, while OMX Stockholm 30 rose slightly, so it moved against the market.
The shares were also trading heavily, at about twice their normal volume.
Over the same days, the market fell slightly, so the drop was bigger than the market's.
−6.05% market +0.83% Munters Group fell, moving against a rising market. Read →
Munters Group fell, moving against a rising market.
No company news explains the move, and it was a very big day for Munters Group, with trading well above normal.
Over the last five trading days, Munters Group fell clearly while OMX Stockholm 30 rose slightly.
Analysts kept buy ratings with higher or unchanged price targets, the price they see as fair, so that does not explain the drop.
The next earnings report, the company's quarterly results, is due on Thursday 28 January 2027.
+2.86% market +0.48% Munters Group rose clearly without a company-news explanation. Read →
Munters Group rose clearly without a company-news explanation.
The stock moved more than the OMX Stockholm 30 index, which rose slightly.
Over the last five trading days, the shares rose sharply, which is a big move for this stock.
The rise followed the strong third-quarter order intake reported two weeks ago, though that report came before the last session.
Analysts raised or kept their buy ratings in the days before.
−2.57% market −0.29% Munters Group fell, moving more than the market, which fell slightly. Read →
Munters Group fell, moving more than the market, which fell slightly.
No company news from the last session explains the move.
Over the last five trading days the stock rose clearly, while the market also rose clearly.
The most likely reason for the earlier gains is the strong third-quarter order intake, which was far above expectations, along with several analysts raising or keeping buy ratings and higher target prices.
The next earnings report is due on Thursday 28 January 2027.
+5.25% market +3.01% Munters Group rose clearly over the week, moving more than the broader Stockholm market, which rose clearly too. Read →
Munters Group rose clearly over the week, moving more than the broader Stockholm market, which rose clearly too.
Analysts including UBS, Pareto, Nordea and Handelsbanken reiterated buy ratings and raised or cut their price targets, the fair value they see for the shares, in the week's final days.
Earlier, strong third-quarter order growth released on 23 October likely kept the shares supported.
The market's median Industrials stock rose about 2.1% over the same window, so Munters outperformed its sector.
+4.73% market +0.33% Munters Group rose on news of a competitor's raised forecast. Read →
Munters Group rose on news of a competitor's raised forecast.
Munters Group rose sharply in the last session, while OMX Stockholm 30 rose only slightly, so the stock moved clearly more than the market.
A competitor raising its forecast likely lifted hopes for the whole sector, though the news does not name Munters itself.
Over the last five trading days, the stock also rose sharply, while the wider market rose slightly.
Strong third-quarter order intake, reported last week, was already known before the session opened.
+3.96% market +0.96% Munters Group rose, with company news behind it. Read →
Munters Group rose, with company news behind it.
Over the same days OMX Stockholm 30 rose clearly, so Munters Group moved more than the market.
Handelsbanken reiterated its buy recommendation and said it sees significant upside, which likely supported the move.
Over the last five trading days Munters Group rose clearly while the market was roughly flat.
+4.04% market +0.41% Munters Group rose sharply after its strong quarterly report. Read →
Munters Group rose sharply after its strong quarterly report.
The company's order intake jumped 70% in the third quarter, driven by strong demand for data center cooling equipment, and earnings beat expectations.
Not all of it was good news, though: profit margins narrowed and cash flow was negative, which the market likely weighed against the order surge.
Over the same session, the OMX Stockholm 30 index rose slightly, so the stock's move clearly outpaced the broader market.
Trading was about three times a normal session, and the move was about as large as the company's usual reaction on report days.
+0.34% market −3.67% Munters Group was roughly flat over the last five trading days, while the OMX Stockholm 30 index fell sharply, so the company held up better than the market. Read →
Munters Group was roughly flat over the last five trading days, while the OMX Stockholm 30 index fell sharply, so the company held up better than the market.
The main driver was its quarterly report published today, where order intake, meaning new customer orders, rose about 70 percent and beat expectations.
Investors likely welcomed the strong demand from data centers, though margins, the profit left per sales krona, fell and cash flow was negative.
Today's session saw a sharp rise on heavy trading, about three times normal volume, which is typical for a report day.
−4.50% market −2.51% Munters Group fell sharply, with no company news explaining it. Read →
Munters Group fell sharply, with no company news explaining it.
Over the same session, the OMX Stockholm 30 also fell sharply, so the stock moved in line with the broader market.
Over the last five trading days the stock was roughly unchanged, while the market fell clearly, so the stock held up better than the index.
The fall in the last session looks mainly market-driven, as the wider Stockholm market sold off at the same time.
The stock's latest close sits at its lowest level of the past year, well below its early May high.
Learn more · Why does a stock fall on the ex-dividend date? · Why do stocks go up and down?