SEK86.50
0.00% yesterday
Stockholm, Apr 03, 05:29 pm CET
ISIN
SE0017161243
Symbol
FNOX

Fortnox Target price 2025 - Analyst rating & recommendation

Fortnox Classifications & Recommendation:

Buy
50%
Hold
25%
Sell
25%

Fortnox Price Target

Target Price SEK77.56
Price SEK86.50
Deviation
Number of Estimates 9
9 Analysts have issued a price target Fortnox 2026 . The average Fortnox target price is SEK77.56. This is lower than the current stock price. The highest price target is , the lowest is .
A rating was issued by 8 analysts: 4 Analysts recommend Fortnox to buy, 2 to hold and 2 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Fortnox stock has an average upside potential 2026 of . Most analysts recommend the Fortnox stock at Purchase.

Sales and Margin forecast 2025, 2026 to 2028

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Quarter Annually
Dec '24 2025
Estimates
Revenue Billion SEK 2.05 2.48
24.54% 21.35%
EBITDA Margin 44.50% 54.17%
1.91% 21.73%
Net Margin 34.59% 36.21%
0.15% 4.70%

10 Analysts have issued a sales forecast Fortnox 2025 . The average Fortnox sales estimate is

SEK2.5b
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. This is
21.35% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
SEK2.6b 25.04%
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, the lowest is
SEK2.4b 17.94%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 SEK2.0b 24.54%
2025
SEK2.5b 21.35%
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2026
SEK3.0b 21.72%
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2027
SEK3.7b 22.50%
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2028
SEK4.3b 14.93%
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8 Analysts have issued an Fortnox EBITDA forecast 2025. The average Fortnox EBITDA estimate is

SEK1.3b
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. This is
31.80% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
SEK1.4b 36.76%
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, the lowest is
SEK1.3b 25.76%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2024 SEK910m 26.92%
2025
SEK1.3b 47.73%
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2026
SEK1.7b 24.80%
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2027
SEK2.1b 28.01%
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EBITDA Margin

2024 44.50% 1.91%
2025
54.17% 21.73%
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2026
55.54% 2.53%
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2027
58.04% 4.50%
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6 Fortnox Analysts have issued a net profit forecast 2025. The average Fortnox net profit estimate is

SEK899m
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. This is
27.06% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
SEK908m 28.45%
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, the lowest is
SEK874m 23.55%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2024 SEK707m 24.73%
2025
SEK899m 27.06%
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2026
SEK1.1b 27.66%
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2027
SEK1.4b 24.63%
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Net Margin

2024 34.59% 0.15%
2025
36.21% 4.70%
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2026
37.98% 4.89%
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2027
38.64% 1.74%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2028

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Quarter Annually
Dec '24 2025
Estimates
Earnings Per Share SEK 1.16 1.47
24.73% 26.72%
P/E 58.69
EV/Sales 21.00

6 Analysts have issued a Fortnox forecast for earnings per share. The average Fortnox EPS is

SEK1.47
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. This is
26.72% higher
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than earnings per share in the financial year 2024. The highest EPS forecast is
SEK1.49 28.45%
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, the lowest is
SEK1.43 23.28%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2024 SEK1.16 24.73%
2025
SEK1.47 26.72%
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2026
SEK1.88 27.89%
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2027
SEK2.35 25.00%
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P/E ratio

Current 74.38 3.90%
2025
58.69 21.09%
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2026
45.97 21.67%
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2027
36.89 19.75%
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Based on analysts' sales estimates for 2025, the Fortnox stock is valued at an EV/Sales of

21.00
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and an P/S ratio of
21.25
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.

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 25.48 3.37%
2025
21.00 17.60%
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2026
17.25 17.85%
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2027
14.08 18.36%
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2028
12.25 12.99%
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P/S ratio

Current 25.79 3.69%
2025
21.25 17.59%
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2026
17.46 17.85%
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2027
14.25 18.36%
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2028
12.40 12.99%
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Current Fortnox Upgrades & Downgrades

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Analyst Rating Action Date
PARETO SECURITIES AS
Locked
Locked
Locked Jan 01 2025
DNB MARKETS
Locked
Locked
Locked Oct 24 2024
Analyst Rating Date
Locked
PARETO SECURITIES AS:
Locked
Locked
Jan 01 2025
Locked
DNB MARKETS:
Locked
Locked
Oct 24 2024

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