Assa Abloy AB Class B

ASSA B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Assa Abloy Earnings: Record Margins Offset Currency Drag; Shares Slightly Overvalued

Joachim Kotze

Feb 5, 2026

Assa Abloy closed 2025 with a strong fourth quarter, delivering record margins and solid organic growth despite severe currency headwinds. Organic sales grew 4% while adjusted EBITA margin reached a record 17.9%, supported by strong pricing, mix, and cost discipline.

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Assa Abloy AB Class B

Assa Abloy Earnings: Record Margins Offset Currency Drag; Shares Slightly Overvalued

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