INDU-C FINANCIAL STATEMENTS

Industrivarden AB ser. C — balance sheet, income statement and cash flow trends

INDU-CIndustrivarden AB ser. C

🇸🇪 Sweden · ST · Financial Services · Asset Management

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue40.3 B kr+896.7%

Gross Profit40.2 B kr+924.4%

Operating Income40.2 B kr+925.4%

EBITDA40.2 B kr+925.4%

Net Income40.1 B kr+930.1%

Peer Comparison· Asset Management

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
INDU-C	—	—	—	99.3%
PFG	—	—	—	10.0%
ARES	—	—	—	11.7%
TROW	—	—	—	28.3%
RJF	—	—	—	13.1%
BEN	—	—	—	9.0%
Industry median	22.3%	3.0%	127.9%	16.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity203.4 B kr96%
Current Liabilities2.8 B kr1%
Long-term Liabilities5.2 B kr2%

Key Figures

YoY change

Total Assets211.4 B kr+20.3%

Total Liabilities7.9 B kr-9.7%

Total Equity203.4 B kr+21.9%

Cash & ST Investments337 M kr+39.8%

Total Debt7.3 B kr-12.1%

Net Debt6.9 B kr-13.6%

Peer Comparison· Asset Management

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
INDU-C	1.94	3.6%	0.17	96.2%
PFG	0.23	33.4%	-14.51	3.6%
ARES	49.67	351.5%	5.04	14.2%
TROW	7.43	4.1%	-1.14	74.9%
RJF	0.37	42.7%	-4.77	13.7%
BEN	17.14	127.0%	6.69	35.5%
Industry median	3.81	18.1%	0.18	64.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow27.6 B kr+478.7%

Capital Expenditures0 kr—

Free Cash Flow9.3 B kr+95.5%

Dividends Paid3.6 B kr-46.8%

Peer Comparison· Asset Management

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
INDU-C	68.5%	23.1%	0.0%	68.9%
PFG	24.2%	23.5%	0.7%	241.7%
ARES	27.6%	26.6%	1.1%	236.1%
TROW	33.0%	31.6%	3.7%	116.8%
RJF	15.8%	14.6%	1.2%	120.0%
BEN	10.7%	10.3%	0.7%	119.5%
Industry median	18.7%	17.4%	0.6%	68.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
INDU-C	—	—	—	99.3%
INVE-B	—	—	—	80.8%
EQT	—	—	—	30.0%
Industry median	22.3%	3.0%	127.9%	16.7%