Thule stock gains after Dagens industri backs holding the shares

Published on 09/21/2026 at 10:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Thule stock closed at SEK 197.20 on Nasdaq Stockholm on September 18, 2026, about 23.3 percent below its 52-week high of SEK 257.00. A fresh Dagens industri assessment on September 21, 2026 argues the shares are worth holding at around 13 times forward EV/EBIT.

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Thule Group AB stock (ISIN SE0007158910) closed at SEK 197.20 on Nasdaq Stockholm on September 18, 2026, down 1.69 percent from the prior day and trading well below its recent 52-week high of SEK 257.00 as investors reassess growth versus margin pressure in the business.

Dagens industri says Thule stock worth holding

As Affarsvarlden reports on September 21, 2026, Swedish financial daily Dagens industri argues that Thule stock is worth holding after a previous buy recommendation did not fully play out, noting that the shares now trade at just over 13 times forward EV/EBIT, close to historical trough valuation levels for the company.

According to Placera on September 21, 2026, Thule shares were up about 0.3 percent in early trading on Nasdaq Stockholm after the Dagens industri piece, suggesting that some investors are taking the valuation support as a reason to stay invested rather than exiting after the recent pullback.

Recent Q2 2026 figures show revenue growth but margin pressure

In its most recent interim report for the second quarter of 2026, Thule Group AB highlighted a combination of revenue growth and continued margin pressure compared with the prior year, giving investors a mixed picture of operating performance.Ad-hoc-news

According to the latest investor information summarised in late summer 2026, revenue for Q2 2026 came in at around SEK 3.0 billion, representing an increase of roughly 10 percent compared with Q2 2025 when revenue stood near SEK 2.7 billion, driven mainly by stronger demand for outdoor and sport-rack products in Europe and North America.Ad-hoc-news

The same Q2 2026 overview indicates that operating income was approximately SEK 420 million, down from about SEK 450 million in Q2 2025, which means operating profit fell by around 6.7 percent year on year even as revenue increased, pointing to cost and pricing pressures in the period.Ad-hoc-news

As a result, Thule's operating margin in Q2 2026 was around 14.0 percent, compared with roughly 16.7 percent in Q2 2025, a decline of about 2.7 percentage points that underscores how higher input costs and competitive pressure are weighing on profitability even as top-line growth remains solid.Ad-hoc-news

The Q2 2026 data also show that net income was about SEK 320 million versus roughly SEK 340 million in Q2 2025, a decrease of around 5.9 percent year on year, reflecting both the lower operating margin and higher financial costs over the past twelve months.Ad-hoc-news

Valuation and risk factors for investors

The Dagens industri assessment emphasises that after the share price decline, Thule trades at just over 13 times forward EV/EBIT, which is close to the lower end of its historical valuation range and may appeal to investors who believe margins can recover in coming quarters.Affarsvarlden

At the same time, the Q2 2026 figures highlight clear risks: the roughly 2.7 percentage point drop in operating margin and the 6.7 percent decline in operating income compared with Q2 2025 show that higher costs and competitive dynamics can offset revenue growth, meaning that any further input-cost inflation or discounting could keep earnings under pressure.

Another factor to watch is the share-price trajectory relative to its 52-week trading range: as of the close on September 18, 2026, Thule stock at SEK 197.20 was about 23.3 percent below its 52-week high of SEK 257.00 and roughly 6.5 percent above its 52-week low of SEK 185.10, underlining that while some downside has already been realised, the market has not yet priced in a full recovery.Ad-hoc-news

Thule stock price level and trading venue

Per recent Nasdaq Stockholm data referenced in investor overviews, Thule Group AB shares last closed at SEK 197.20 on September 18, 2026, with the stock traded on the main Nasdaq Stockholm marketplace in Sweden; that close leaves the shares roughly one quarter below the 52-week high of SEK 257.00, indicating room for recovery if margins and earnings improve.