Kinnevik KINV-B.ST
Kinnevik AB is a Swedish investment company that manages a diversified portfolio of holdings in consumer, digital health, and technology companies, seeking to generate long-term value through the creation and development of companies. Kinnevik trades at a 43% discount to its net asset value (Price/NAV: 0.57), offering a significant margin of safety. Portfolio quality is excellent (95.5% operating margin) and growth is strong, but negative momentum (-25.6%) and pressure from interest rates on tech valuations warrant caution.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Kinnevik AB is a Swedish investment company that manages a diversified portfolio of holdings in consumer, digital health, and technology companies, seeking to generate long-term value through the creation and development of companies. Kinnevik trades at a 43% discount to its net asset value (Price/NAV: 0.57), offering a significant margin of safety. Portfolio quality is excellent (95.5% operating margin) and growth is strong, but negative momentum (-25.6%) and pressure from interest rates on tech valuations warrant caution.
Score by category
| Category | Score |
|---|---|
| Financial health | 8.8 |
| Quality / Moat | 9.0 |
| Valuation | 8.6 |
| Growth | 9.8 |
| Dividend | 1.4 |
| Momentum | 1.5 |
| Risk & Context | 4.2 |
OVERALL SCORE: 6.8/10
Context and risks
Kinnevik is a holding company with stakes in high-growth technology companies, which are sensitive to interest rates. The rise in the 10-year US Treasury yield (5.17%) and AI concerns pressure the valuations of these holdings, indirectly affecting Kinnevik's net asset value.
News considered in the analysis
- Exclusive: Mews wins EMI license, clearing way to hold hotel funds in EEA — La licencia EMI para Mews, una participada clave en el sector de software hotelero, refuerza su posición competitiva y su capacidad de retener fondos de clientes, un hito regulatorio positivo que añade valor al portfolio.
- Kinnevik AB (KNEVF) Q2 2026 Earnings Call Highlights: Strategic Restructuring and Portfolio ... — La reestructuración estratégica y la gestión activa del portfolio son señales de disciplina, aunque el impacto en el valor liquidativo es gradual y ya está parcialmente reflejado en el precio.
- Kinnevik AB (KNEVF) Q1 2026 Earnings Call Highlights: Navigating Market Volatility with ... — Comentarios genéricos sobre volatilidad del mercado sin información nueva material sobre el valor de las participadas.
- Kinnevik AB (KNEVF) Q4 2025 Earnings Call Highlights: Navigating Market Challenges with ... — Resumen de resultados pasados, sin información nueva que afecte a la valoración actual.
- Kinnevik (OM:KINV B) Valuation Check After New AI Hospitality And Digital Health Investments — Las nuevas inversiones en IA para hostelería y salud digital son apuestas de crecimiento que podrían impulsar el valor liquidativo a largo plazo, aunque su contribución aún no es visible en los resultados.
Verdict: Hold. The discount to NAV is attractive, but wait for the market to price in a stabilization of interest rates and the AI cycle before increasing the position.
Main risk: The main risk is concentration in high-growth technology companies, whose valuations are vulnerable to a higher interest rate environment and a potential slowdown in the AI investment cycle, which could widen the discount to NAV rather than narrow it.
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