{"id":361906,"date":"2026-09-02T05:45:15","date_gmt":"2026-09-02T05:45:15","guid":{"rendered":"https:\/\/www.europesays.com\/se\/361906\/"},"modified":"2026-09-02T05:45:15","modified_gmt":"2026-09-02T05:45:15","slug":"stora-kvalitetsjakten-borsbolagen-rankade","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/se\/361906\/","title":{"rendered":"Stora kvalitetsjakten \u2013 b\u00f6rsbolagen rankade"},"content":{"rendered":"

Vi \u00e4r beredda p\u00e5 det v\u00e4rsta n\u00e4r Ola Brageborn<\/strong> studerar kvalitetsgrafen. Han \u00e4r en av tre som driver Kvalitetsaktiepodden och privata investmentbolaget Armatus. <\/strong>Men storsint s\u00e4ger han:<\/p>\n

”Den ser vettig ut s\u00e5 n\u00e5gonting har ni i alla fall f\u00e5tt ut.”<\/p>\n

Han tycker att analysen ”rimmar bra” med hans egen strategi att hitta kvalitetsbolag som har l\u00e5ng historik, stabil l\u00f6nsamhet, m\u00e5ttlig skulds\u00e4ttning och begriplig aff\u00e4rsmodell.<\/p>\n

St\u00f6rst investeringspotential finns teoretiskt i bolagen l\u00e4ngst ner till h\u00f6ger, s\u00e4ger Brageborn, d\u00e4r han bland annat h\u00e5ller med om Bravidas<\/strong> placering. Men han tycker att \u00e4ven de med runt 55 po\u00e4ng har bra kvalitet och pekar p\u00e5 intressanta ”understreckare”.<\/p>\n

”Det finns m\u00e5nga bolag i den klassen och stora prisskillnader. Saab och Essity<\/strong> har samma kvalitet, men handlas till multiplar p\u00e5 25 respektive 10. Det \u00e4r inte rimligt.”<\/p>\n

”Inwido<\/strong> och New Waves<\/strong> l\u00e4gen gl\u00e4djer mig, jag ser ocks\u00e5 att de \u00e4r underv\u00e4rderade. Men Nibes<\/strong> l\u00e5ga kvalitetspo\u00e4ng blir jag f\u00f6rv\u00e5nad \u00f6ver.”<\/p>\n

Vilken information om kvalitet g\u00e5r inte att l\u00e4sa ut ur den h\u00e4r typen av m\u00e5tt?<\/strong><\/p>\n

”En bra VD och \u00e4gare ska synas i de h\u00e4r m\u00e5tten. S\u00e5 jag vet egentligen inte vilka mjuka faktorer som inte f\u00e5ngas upp. De ska visa sig h\u00e4r.”<\/p>\n

Hur m\u00e5nga svaga \u00e5r f\u00e5r man ha \u2013 n\u00e4r slutar ett kvalitetsbolag att vara ett kvalitetsbolag?<\/strong><\/p>\n

”Det d\u00e4r \u00e4r sv\u00e5rt. Men fem \u00e5r kan vara en utdragen l\u00e5gkonjunktur och man riskerar att s\u00e4lja n\u00e5got i en tillf\u00e4llig marknadssvacka. Har man d\u00e4remot varit d\u00e5lig i 10 \u00e5r – n\u00e4, d\u00e5 \u00e4r det inte bra.”<\/p>\n

Vill se mer tillv\u00e4xt<\/p>\n

Brageborns fr\u00e4msta inv\u00e4ndning mot analysen \u00e4r att bolagens tillv\u00e4xt f\u00e5r f\u00f6r lite genomslag:<\/p>\n

”Den tycker vi \u00e4r oerh\u00f6rt viktig och det enda ni har \u00e4r EPS CAGR f\u00f6r fem \u00e5r. Det \u00e4r f\u00f6r kort och f\u00f6r lite. Man vill g\u00e4rna se den p\u00e5 tio \u00e5r. Och man borde l\u00e4gga till oms\u00e4ttningstillv\u00e4xt m\u00e4tt i CAGR per aktie \u00f6ver 10 \u00e5r.”<\/p>\n

”Sen skulle ROIC kunna f\u00e5 en vikt p\u00e5 20% ist\u00e4llet f\u00f6r 30”, till\u00e4gger han.<\/p>\n

V\u00e5gar man fr\u00e5ga om en investerare kan anv\u00e4nda den h\u00e4r grafen som inspiration?<\/strong><\/p>\n

”Absolut. Det tycker jag.”<\/p>\n

\"57a0385Kvalitetsj\u00e4gare Ola Brageborn.<\/p>\n","protected":false},"excerpt":{"rendered":"Vi \u00e4r beredda p\u00e5 det v\u00e4rsta n\u00e4r Ola Brageborn studerar kvalitetsgrafen. Han \u00e4r en av tre som driver…\n","protected":false},"author":2,"featured_media":361907,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[65],"tags":[12829,12052,41396,6046,7958,5233,10131,12422,18339,11416,72,6602,3359,70,71,6307,829,3908,5838,6830,6430,830,8851,11721,14714,11720,3946,5394,2200,6436,4330,18467,34,11723,467,31,33,6156,32,30,11371,2734,16859,6437,2999,19619],"class_list":["post-361906","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ekonomi","tag-aak","tag-academedia","tag-aktievardering","tag-alfa-laval","tag-assa-abloy","tag-astrazeneca","tag-autoliv","tag-bergman-beving","tag-bravida","tag-bufab","tag-business","tag-camurus","tag-clas-ohlson","tag-economy","tag-ekonomi","tag-electrolux","tag-embracer","tag-ericsson","tag-essity","tag-getinge","tag-hm","tag-holmen","tag-husqvarna","tag-indutrade","tag-loomis","tag-mips","tag-mycronic","tag-nibe","tag-saab","tag-sandvik","tag-sca","tag-scandic-hotels","tag-se","tag-sectra","tag-stockholmsborsen","tag-svenska","tag-sverige","tag-sweco","tag-sweden","tag-swedish","tag-systemair","tag-tele2","tag-vitrolife","tag-volvo","tag-volvo-cars","tag-zinzino-b"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/posts\/361906","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=361906"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/posts\/361906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/media\/361907"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/media?parent=361906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/categories?post=361906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/se\/wp-json\/wp\/v2\/tags?post=361906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}