Haldex AB (publ) (HLDX.ST)

Haldex AB (publ) (HLDX.ST) — VMCI valuation read

Headline read on HLDX.ST: VMCI of 36/100 versus a Consumer Cyclical sector median of 50. The 14-point below-median position is what makes Haldex AB (publ) a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on HLDX.ST: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on HLDX.ST: value (HLDX.ST trades at 19.0x earnings, 6% above the Consumer Cyclical median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Consumer Cyclical median (10.0%)), and risk (net debt to EBITDA of 0.8x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Cyclical 12.0x baseline.

HLDX.ST rose 3.7% over the trailing 7 days, with a -6.0% read on a 30-day basis.