| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 3.90 | -97 |
| Intrinsic value (DCF) | 43.76 | -66 |
| Graham-Dodd Method | 4.60 | -96 |
| Graham Formula | 12.40 | -90 |
Alligo AB (publ) is a leading Nordic distributor of workwear, personal protective equipment (PPE), and industrial tools, serving a diverse clientele that includes small, medium, and large enterprises as well as the public sector. Headquartered in Stockholm, Sweden, the company operates across key industries such as manufacturing, construction, transport, warehousing, and energy (oil & gas). Formerly known as Momentum Group AB, Alligo rebranded in December 2021 to reflect its expanded focus on safety and productivity solutions. With a revenue of SEK 9.21 billion in FY 2022, Alligo combines product distribution with value-added services like maintenance and spare parts, positioning itself as a one-stop shop for industrial and safety needs. Its strong Nordic presence and diversified customer base make it a resilient player in the industrial distribution sector.
Alligo presents a stable investment opportunity within the industrial distribution space, supported by its SEK 9.21 billion revenue and SEK 481 million net income in FY 2022. The company’s beta of 1.134 suggests moderate market sensitivity, aligning with broader industrial trends. Strengths include a diversified customer base across critical sectors and a solid dividend yield (SEK 2 per share). However, high total debt (SEK 2.76 billion) and reliance on Nordic market cyclicality pose risks. Operating cash flow (SEK 507 million) and disciplined capex (SEK -146 million) indicate efficient liquidity management. Investors should weigh its regional dominance against limited global diversification.
Alligo’s competitive advantage lies in its Nordic-focused distribution network, offering integrated solutions combining tools, PPE, and maintenance services—a sticky model for B2B clients. Its rebranding to Alligo emphasizes safety and productivity, differentiating it from pure-play tool distributors. The company’s scale in Sweden and neighboring markets provides logistical efficiencies, while its multi-sector exposure (e.g., construction, energy) mitigates industry-specific downturns. However, its regional concentration limits growth compared to global peers. Margins are pressured by the low-maturity nature of distribution, though value-added services like repair help retain customers. Competitors with broader European or global footprints may outperform in scalability, but Alligo’s deep local relationships and specialized offerings solidify its niche dominance.