Why Thule Group stock moves
Thule Group fell, moving in line with the market.
Written after the close on ·
Why today
16,307 news analyzed todayThule Group fell, moving in line with the market.
Over the last five trading days the stock rose very sharply while the broader market was roughly flat.
The move was very big for the stock, about four times a normal five-day stretch, and moves this large happened only about twice in the past year.
The acquisition of Aeroe, a bike-accessory brand, likely supported the rise.
The stock still sits below its highest close of the past year.
Today's move of −1.36% was 1.5 times a normal day's 0.9%. OMX Stockholm 30 moved −1.01% on the same day.
Thule Group −1.36%OMX Stockholm 30 −1.01%In step with the market
What analysts expect, and how often they have been right
Analysts’ estimates for Thule Group.
Thule Group earned more than expected in 5 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 4 out of 7 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 216.80 SEK
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expectedSEK
Next reported quarter: expected earnings per share of 0.43 SEK (February 10). For the current fiscal year, expected earnings per share changed from 11.56 SEK three months ago to 11.81 SEK now. 2026 estimate: 11.81 SEK. 2027 estimate: 13.19 SEK. People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor. October 22: Buy about 356 thousand SEK. October 22: Buy about 190 thousand SEK. July 21: Buy about 3.2 m SEK. June 12: Sell about 981 thousand SEK. May 20: Buy about 1.1 m SEK.
Has the share price followed the business?
Price and earnings moved in the same direction: 2 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed −30% and earnings per share −2%.
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: 2 out of 3 years.Market cap (Now): 23.4 bn SEKRevenue 2025: 10.4 bn SEK
What the key figures say about Thule Group
The figures connect what Thule 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: 10.33 SEK–12.12 SEK. Peers: Asmodee Group 2.15 SEK, Mips 6.45 SEK, Dometic Group -13.10 SEK. 2026 estimate: 11.81 SEK (11.30 SEK–12.20 SEK). 2027 estimate: 13.19 SEK (12.69 SEK–13.70 SEK).
What the company sold during the year.
2022–2025: 9.1 bn SEK–10.4 bn SEK. Peers: Asmodee Group 1.8 bn EUR, Mips 745 m SEK, Dometic Group 20.4 bn SEK. 2026 estimate: 10.5 bn SEK (10.5 bn SEK–10.5 bn SEK). 2027 estimate: 11.2 bn SEK (11.2 bn SEK–11.3 bn SEK).
The percentage of revenue left after the costs of running the business.
2022–2025: 15.7%–16.8%. Peers: Asmodee Group 11.1%, Mips 32.9%, Dometic Group 7.5%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: 13.9%–19.5%. Peers: Asmodee Group 2.4%, Mips 28.1%, Dometic Group −20.4%.
The price investors pay for each unit of annual earnings per share. Not shown for a loss.
2022–2025: 18.0–32.3. Peers: Asmodee Group 79.5, Mips 71.0. 2026 estimate: 18.4. 2027 estimate: 16.4.
What investors pay for each unit the company sells.
2022–2025: 2.25–3.86. Peers: Mips 16.30, Dometic Group 0.36. 2026 estimate: 2.23. 2027 estimate: 2.08.
Money paid to shareholders per share, summed by calendar year.
2017–2025: 0.00 SEK–15.50 SEK.
The ordinary yearly dividend as a percentage of the share price.
2022–2025: 2.8%–6.0%. Peers: Asmodee Group 1.0%, Mips 0.6%, Dometic Group 0.0%.
Net debt divided by operating earnings before depreciation and amortisation.
2022–2025: 1.09–2.09. Peers: Asmodee Group 1.72, Mips 0.45, Dometic Group 3.68.
More key figures
Market cap divided by shareholders’ equity, what remains after liabilities.
2022–2025: 3.47–4.55. Peers: Mips 17.78, Dometic Group 0.39.
Market cap plus net debt, divided by operating earnings. This includes debt.
2022–2025: 14.8–25.4.
Cash left after investments, divided by the number of shares.
2022–2025: 1.64 SEK–18.97 SEK. Peers: Asmodee Group 0.79 EUR, Mips 6.12 SEK, Dometic Group 5.02 SEK.
The percentage of assets financed by shareholders’ equity.
2022–2025: 52.6%–62.5%.
The dividend explained
A dividend is money paid to shareholders. Thule Group paid 8.30 SEK per share in the twelve months through November 6, 2026.
On the ex-dividend day, October 2, 2026, Thule Group traded without the right to the 4.15 SEK dividend. The price went from 196.50 SEK to 193.60 SEK; including the dividend, the day's change was +0.6%. Entitlement passes from the company to shareholders on the ex-day; payment comes later.
2017: 10.90 SEK2018: 6.00 SEK2019: 7.00 SEK2020: 0.00 SEK2021: 15.50 SEK2022: 13.00 SEK2023: 9.20 SEK2024: 9.50 SEK2025: 8.30 SEK2026 so far: 8.30 SEK
What to watch next, and why
The earnings report shows how Thule Group's revenue and profit have changed.
- Earnings report
The earnings report shows how Thule Group's revenue and profit have changed.
Add to calendar
More about Thule Group
Insider trades
People on the board and in management must report their trades in the share to Finansinspektionen, Sweden's financial supervisor.
- Filip Van der Linden, senior executiveBuyabout 356 thousand SEK
- Sara Molnar, board memberBuyabout 190 thousand SEK
- Curt Per-Arne Blomquist, board memberBuyabout 3.2 m SEK
- Daniel Larsson, senior executiveSellabout 981 thousand SEK
- Curt Per-Arne Blomquist, board memberBuyabout 1.1 m SEK
Earnings report
Next report: · Add to calendar · Google Calendar
On its last 15 report days Thule Group usually moved about 5.2%. On a normal day it moves 0.9%.
−3.64% Why? −3.61% −4.02% +14.00%
10,000 SEK in Thule Group bought on November 7, 2016 is worth 23,500 SEK today, with dividends reinvested.
What would 10,000 SEK in Thule Group be worth today? →
What would 10,000 SEK in Thule Group be worth today?
23,500 SEK
with dividends reinvested, bought on November 7, 2016.
The five biggest days of the journey
· +15.3% · the whole market rose 0.4% the same day · report day
· −14.6% · the whole market fell 1.5% the same day · report day
· −14.0% · the whole market fell 0.7% the same day · report day
· +14.0% · the whole market was unchanged the same day · report day
· +13.8% · the whole market rose 1.4% the same day · report day
Earlier days
+11.07% market −0.11% Thule Group rose very sharply over the week while the broader Stockholm market stayed roughly flat. Read →
Thule Group rose very sharply over the week while the broader Stockholm market stayed roughly flat.
The move was unusually large for the stock, which rarely moves this much in a week.
Likely drivers include the acquisition of the bikepacking brand Aeroe, announced on Monday 2 November.
DNB Carnegie also cut its price target, the share price it sees as fair, on Tuesday 3 November.
+4.57% market −0.32% Thule Group rose sharply. Read →
Thule Group rose sharply.
Company news explains the move in part: Thule agreed to acquire Aeroe, a bikepacking gear maker, which broadens its cycling range.
Over the last five trading days, the shares rose very sharply, a much bigger move than the market's slight gain.
Trading volume was well above its usual level, showing heavy interest.
Investors may also be looking ahead to Thule's investor update on 15 December 2026.
+2.74% market +0.83% Thule Group rose, moving well ahead of the market. Read →
Thule Group rose, moving well ahead of the market.
Thule Group rose sharply over the last five trading days, while OMX Stockholm 30 rose only slightly.
Its move was very big for the stock, roughly three times a normal five-day stretch.
In the last session, Thule announced an investor update event for Tuesday 15 December 2026, held online.
The company said it would review progress toward its financial targets set a year earlier.
+5.12% market +0.48% Thule Group rose on news of the Aeroe deal. Read →
Thule Group rose on news of the Aeroe deal.
Thule Group moved much more than the OMX Stockholm 30 index over the same day, which rose only slightly.
The day's move was very big for Thule Group, roughly four times a normal daily swing, and moves that large happened only about five times in the past year.
The Aeroe deal, a purchase of a New Zealand bikepacking gear maker, was announced in the last session, so it is the most likely reason.
Over the last five trading days the stock rose sharply, and the sector's median stock rose only about half a percent in the week to early November.
−3.46% market −3.67% Thule Group fell clearly over the week, moving roughly in line with the Stockholm market, which also fell sharply. Read →
Thule Group fell clearly over the week, moving roughly in line with the Stockholm market, which also fell sharply.
The main driver was the third-quarter report published yesterday: operating profit beat expectations, helped by one-off tariff refunds, but organic sales growth was weak at 1.2 percent.
Several analysts then cut their price targets, the share prices they see as fair value, though most kept their ratings.
Investors also reacted to the chairman stepping down after pressure from shareholders.
−3.64% market −2.51% Thule fell sharply as its Q3 report and chairman's resignation hit shares. Read →
Thule fell sharply as its Q3 report and chairman's resignation hit shares.
Thule's shares fell sharply, in line with OMX Stockholm 30, which also fell sharply over the same session.
The main news was Q3 results: operating profit beat expectations, helped by SEK 52m of tariff refunds, but organic sales growth slowed to 1.2 percent.
Trading volume was about twice a normal session, and the move was about as large as the usual report-day swing for Thule.
Over the last five trading days, the shares fell slightly, moving in line with the broader market.
Learn more · Why do stocks go up and down?