{"id":293333,"date":"2026-07-01T16:18:18","date_gmt":"2026-07-01T16:18:18","guid":{"rendered":"https:\/\/www.europesays.com\/se\/293333\/"},"modified":"2026-07-01T16:18:18","modified_gmt":"2026-07-01T16:18:18","slug":"knowit-billig-aktie-med-stora-fragetecken","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/se\/293333\/","title":{"rendered":"Knowit: Billig aktie med stora fr\u00e5getecken"},"content":{"rendered":"

Knowit <\/strong>(77,70 kr<\/strong>) \u00e4r ett svenskt IT- och managementkonsultbolag grundat 1990 med b\u00f6rsnotering 1997. Konsultbolaget har cirka 3 600 anst\u00e4llda i Norden. Knowit erbjuder konsulttj\u00e4nster inom IT, digitalisering, aff\u00e4rssystem (ERP) och managementkonsulttj\u00e4nster. Vi p\u00e5 Placera har sedan tidigare ett k\u00f6pr\u00e5d p\u00e5 aktien.<\/p>\n\n

Knowit<\/strong><\/p>\n<\/tr>\n\n\n

B\u00f6rskurs: 77,70 kr<\/p>\n<\/td>\n\n

Antal aktier: 27,3 m<\/p>\n<\/td>\n<\/tr>\n\n\n

B\u00f6rsv\u00e4rde: 2 122 Mkr<\/p>\n<\/td>\n\n

Nettoskuld: 339 Mkr<\/p>\n<\/td>\n<\/tr>\n\n\n

VD: Per Wallentin<\/p>\n<\/td>\n\n

Ordf\u00f6rande: Olof Cato<\/p>\n<\/td>\n<\/tr>\n

St\u00f6rsta \u00e4garna i Knowit \u00e4r de g\u00f6teborgsbaserade investmentbolagen Formica Capital<\/strong> (13,3%) och JCE Group<\/strong> (9,4%). Det totala insyns\u00e4gandet uppg\u00e5r till drygt 23%. Fond\u00e4gandet uppg\u00e5r till 24% och det utl\u00e4ndska \u00e4gandet till ungef\u00e4r 50%.<\/p>\n\n

Placeras huvudscenario<\/strong><\/p>\n

2025<\/strong><\/p>\n

2026E<\/strong><\/p>\n

2027E<\/strong><\/p>\n

2028E<\/strong><\/p>\n<\/tr>\n\n\n

Oms\u00e4ttning<\/p>\n<\/td>\n\n

5 798<\/p>\n<\/td>\n\n

5 450<\/p>\n<\/td>\n\n

5 559<\/p>\n<\/td>\n\n

5 670<\/p>\n<\/td>\n<\/tr>\n\n\n

\u00a0– Tillv\u00e4xt<\/p>\n<\/td>\n\n

-9,6%<\/p>\n<\/td>\n\n

-6,0%<\/p>\n<\/td>\n\n

+2,0%<\/p>\n<\/td>\n\n

+2,0%<\/p>\n<\/td>\n<\/tr>\n\n\n

R\u00f6relseresultat<\/p>\n<\/td>\n\n

-213<\/p>\n<\/td>\n\n

157<\/p>\n<\/td>\n\n

190<\/p>\n<\/td>\n\n

198<\/p>\n<\/td>\n<\/tr>\n\n\n

\u00a0– Justeringar<\/p>\n<\/td>\n\n

562<\/p>\n<\/td>\n\n

170<\/p>\n<\/td>\n\n

170<\/p>\n<\/td>\n\n

170<\/p>\n<\/td>\n<\/tr>\n\n\n

Justerat r\u00f6relseresultat (Ebita)<\/p>\n<\/td>\n\n

349<\/p>\n<\/td>\n\n

327<\/p>\n<\/td>\n\n

360<\/p>\n<\/td>\n\n

368<\/p>\n<\/td>\n<\/tr>\n\n\n

\u00a0– R\u00f6relsemarginal (Ebita)<\/p>\n<\/td>\n\n

6,0%<\/p>\n<\/td>\n\n

6,0%<\/p>\n<\/td>\n\n

6,5%<\/p>\n<\/td>\n\n

6,5%<\/p>\n<\/td>\n<\/tr>\n\n\n

Resultat efter skatt<\/p>\n<\/td>\n\n

-285<\/p>\n<\/td>\n\n

238<\/p>\n<\/td>\n\n

276<\/p>\n<\/td>\n\n

290<\/p>\n<\/td>\n<\/tr>\n\n\n

Vinst per aktie<\/p>\n<\/td>\n\n

13,30<\/p>\n<\/td>\n\n

8,70<\/p>\n<\/td>\n\n

10,10<\/p>\n<\/td>\n\n

10,60<\/p>\n<\/td>\n<\/tr>\n\n\n

Utdelning per aktie<\/p>\n<\/td>\n\n

2,5<\/p>\n<\/td>\n\n

3,6<\/p>\n<\/td>\n\n

4,1<\/p>\n<\/td>\n\n

4,3<\/p>\n<\/td>\n<\/tr>\n\n\n

Direktavkastning<\/p>\n<\/td>\n\n

3,2%<\/p>\n<\/td>\n\n

4,6%<\/p>\n<\/td>\n\n

5,2%<\/p>\n<\/td>\n\n

5,5%<\/p>\n<\/td>\n<\/tr>\n\n\n

Avkastning p\u00e5 eget kapital<\/p>\n<\/td>\n\n

6%<\/p>\n<\/td>\n\n

6%<\/p>\n<\/td>\n\n

7%<\/p>\n<\/td>\n\n

7%<\/p>\n<\/td>\n<\/tr>\n\n\n\n

6%<\/p>\n<\/td>\n\n

7%<\/p>\n<\/td>\n\n

7%<\/p>\n<\/td>\n\n

8%<\/p>\n<\/td>\n<\/tr>\n\n\n\n

0,8x<\/p>\n<\/td>\n\n

0,5x<\/p>\n<\/td>\n\n

0,1x<\/p>\n<\/td>\n\n

-0,3x<\/p>\n<\/td>\n<\/tr>\n\n\n\n

5,8x<\/p>\n<\/td>\n\n

8,9x<\/p>\n<\/td>\n\n

7,7x<\/p>\n<\/td>\n\n

7,3x<\/p>\n<\/td>\n<\/tr>\n\n\n\n

7,1x<\/p>\n<\/td>\n\n

7,5x<\/p>\n<\/td>\n\n

6,8x<\/p>\n<\/td>\n\n

6,7x<\/p>\n<\/td>\n<\/tr>\n\n\n\n

0,4x<\/p>\n<\/td>\n\n

0,5x<\/p>\n<\/td>\n\n

0,4x<\/p>\n<\/td>\n\n

0,4x<\/p>\n<\/td>\n<\/tr>\n\n\n

Kommentar: Vinst per aktie f\u00f6r 2025 har justerats av Placera.<\/p>\n

*Justeringar avser av- och nedskrivningar av immateriella anl\u00e4ggningstillg\u00e5ngar.<\/p>\n<\/td>\n<\/tr>\n

Det viktigaste tj\u00e4nsteomr\u00e5det f\u00f6r Knowit \u00e4r systemutveckling. M\u00e5nga av bolagets konsulter syssels\u00e4tts i projekt som utvecklar specialbyggda system \u00e5t kunder i offentlig sektor. Offentliga kunder \u00e4r st\u00f6rsta kundgruppen och st\u00e5r f\u00f6r 41% av oms\u00e4ttningen. Handels- och tj\u00e4nstebolag (17%) och Industri (13%) \u00e4r ocks\u00e5 viktiga kundgrupper.<\/p>\n

Det absolut vanligaste \u00e4r att Knowit debiterar sina kunder per arbetad timme. Fastprisuppdrag utg\u00f6r endast omkring 10% av oms\u00e4ttningen. Kostnaderna f\u00f6r personal (m\u00e5nadsl\u00f6n) och lokaler \u00e4r mestadels fast. Detta ger en l\u00f6nsamhetsstruktur d\u00e4r \u00f6kad bel\u00e4ggning av konsulterna (fler s\u00e5lda timmar) ger stor effekt p\u00e5 resultatet.<\/p>\n

Debiteringsgrad avser hur stor andel av den tillg\u00e4ngliga arbetstiden som bolaget lyckas ta betalt f\u00f6r av kunderna. En procentenhet \u00f6kning i debiteringsgraden ger +55 Mkr i Ebita-resultat, enligt Knowit. 2025 tj\u00e4nade bolaget 349 Mkr i Ebita.<\/p>\n

Omv\u00e4nt ger l\u00e4gre debiteringsgrad stor negativ effekt p\u00e5 vinsten.<\/p>\n

I tider av svag efterfr\u00e5gan anpassar sig Knowit genom att dra ned p\u00e5 personal. S\u00e5 har man gjort de senaste \u00e5ren. Sedan slutet av 2022 har Knowit minskat sin personalstyrka med 17% (4 377 till 3 652).<\/p>\n","protected":false},"excerpt":{"rendered":"Knowit (77,70 kr) \u00e4r ett svenskt IT- och managementkonsultbolag grundat 1990 med b\u00f6rsnotering 1997. Konsultbolaget har cirka 3…\n","protected":false},"author":2,"featured_media":293334,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[65],"tags":[72,70,71,27101,5906,34,31,33,32,30],"class_list":["post-293333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ekonomi","tag-business","tag-economy","tag-ekonomi","tag-it-konsulter","tag-knowit","tag-se","tag-svenska","tag-sverige","tag-sweden","tag-swedish"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@se\/116845628964397901","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/posts\/293333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/comments?post=293333"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/posts\/293333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/media\/293334"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/media?parent=293333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/categories?post=293333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/tags?post=293333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}