Siemiatkowski Sebastian (Chief Executive Officer) bought $10.0M of stock
SEC Form 4
Klarna Group plc is a US-listed company in the consumer finance industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$5.3
Valuation models combined (2)
Base case. Range ~$5.1–$5.4. Weighted average of 2 models (price-to-book vs peers, forward price-to-earnings vs peers).
Price vs value
No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Klarna Group plc valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders1 buying, 0 selling1 purchase and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds122 adding, 93 cuttingOf 39 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Klarna Group plc's trailing-twelve-month revenue grew 24.8% year on year, with a free-cash-flow margin of -29.5%. Where it lags: stock pay as % of revenue of 4.5% ranks 32 of 36 consumer finance companies we cover.
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 239% in the quarter to 2026-06-30, the 4th beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 24.8% over the last 12 months, against a median of 10.4% for consumer finance companies we cover.
- Net cash. Cash exceeds long-term debt by $3.8bn.
- Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
Things to watch
- Loss-making. Operating margin is -6.6%: costs exceed revenue.
- Burning cash. Free cash flow was -29.5% of revenue over the last 12 months.
- Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.5% ranks 32 of 36 consumer finance companies we cover (median 1.3%).
- Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 30.3% over 90 days.
Latest results
- Earnings per share
- $0.03 against an average estimate of -$0.02: beat by 238.7%
- Next report
- November 17, 2026; average EPS estimate -$0.13
Price chart
- 1 day+0.6%
- 1 week+6.0%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $3.5B
- Operating margin
- -6.6%
- Net margin
- -7.8%
- EPS (TTM, diluted)
- $-0.74
Growth
- Revenue growth
- +24.8%
- Change in growth rate
- +1.3 pts
- Share count change
- +1.7%
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Insider trade
Valuation models
We value Klarna Group plc as a bank or lender, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. | ~$2.2 | Left out: out of range vs price (0.17x) |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$5.4 ~$7.1–$11 | Included |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$5.1 ~$4.8–$6.1 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$5.3 ~$5.1–$5.4 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Klarna Group plc with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 17, 2026, before the open. Analysts expect revenue of $964m and EPS of −$0.13 (range −$0.16 to −$0.10) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.04 | +200% | $4.1bn | +18% |
| Next | $0.52 | +1445% | $4.7bn | +15% |
Next year's EPS estimate has moved −30.3% in 90 days, across 18 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −86.5% on 90 days ago. In the last 30 days, 0 analysts raised Klarna Group plc's forecast and 3 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $0.30 | $0.75 |
| 60 days ago | $0.06 | $0.53 |
| 30 days ago | $0.06 | $0.53 |
| 7 days ago | $0.04 | $0.54 |
| Now | $0.04 | $0.52 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.02 | $0.03 | +238.7% |
| Mar 2026 | −$0.14 | −$0.00 | +96.9% |
| Dec 2025 | −$0.02 | −$0.02 | +14.9% |
| Sept 2025 | −$0.26 | −$0.07 | +73.6% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- — of tradable shares
- Days to cover
- 7.13 at average volume
- Short interest, 1 month
- +2% to October 15, 2026
- Held by institutions
- 53% of shares
- Held by insiders
- 21.8% of shares
- Employees
- 2,831 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Klarna Group plc in five measures
Fundamentals
Financial statements
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 2,276 | 2,811 | 3,509 |
| Operating income | −323 | −121 | −230 |
| Net income | −244 | 21 | −273 |
| Diluted EPS | −$0.69 | $0.01 | −$0.79 |
| Growth (year on year) | |||
| Revenue | — | +23.5% | +24.8% |
| Margins | |||
| Operating margin | −14.2% | −4.3% | −6.6% |
| Net margin | −10.7% | 0.7% | −7.8% |
| Free-cash-flow margin | 35.5% | 20.8% | −29.5% |
| Cash flow | |||
| Cash from operations | 808 | 587 | −1,032 |
| Capital spending | 1 | 1 | 3 |
| Free cash flow | 807 | 586 | −1,035 |
| Stock-based pay | 43 | 92 | 157 |
| Free cash flow after stock pay | 764 | 494 | −1,192 |
| Balance sheet | |||
| Cash | 2,391 | 3,243 | 3,803 |
| Total debt | 0 | 0 | 0 |
| Net debt (negative = net cash) | −2,391 | −3,243 | −3,803 |
| Diluted shares | 362m | 364m | 371m |
Dividends, buybacks and capital spending
- Diluted share count
- +1.7%
- year over year
Competitors: side by side with peers
| Last 12 months unless stated | KLAR | ENVA | BFH | FCFS | SOFI | PRG | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $3.5bn | $3.7bn | $4.0bn | $4.3bn | $4.3bn | $2.8bn | $1.6bn |
| Revenue growth, last 12 months | 24.8% | 20.1% | 5.5% | 22.9% | 40.8% | 15.4% | 10.4% |
| Revenue growth, 3-year average | — | 21.8% | −2.4% | 12.0% | 32.5% | 4.2% | 11.3% |
| Revenue growth, latest quarter | — | 25.7% | 4.7% | 17.7% | 42.5% | 25.6% | 10.6% |
| Gross margin | — | 60.6% | 51.6% | 50.2% | 83.9% | — | 58.0% |
| Operating margin | −6.6% | 24.0% | 37.6% | — | — | 8.5% | 11.2% |
| Operating margin, 3-year average | — | 22.8% | 27.9% | — | — | 8.3% | 19.8% |
| Net margin | −7.8% | 10.5% | 13.4% | 9.5% | 14.8% | 5.5% | 10.5% |
| Cash from operations / revenue | −29.4% | 56.2% | 54.7% | 15.8% | −197.5% | 12.0% | 22.7% |
| Free-cash-flow margin | −29.5% | 54.9% | 52.8% | 10.0% | −204.2% | 11.4% | 18.4% |
| Free-cash-flow margin, 3-year average | — | 55.3% | 50.6% | 10.9% | −140.1% | 9.7% | 23.6% |
| Stock pay / revenue | 4.5% | 1.0% | 1.5% | 0.5% | 6.6% | 1.2% | 1.3% |
| Change in share count | 1.7% | −1.8% | −13.2% | −1.6% | 15.1% | −1.8% | −0.8% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 24.8% | 10.4% | 11 of 39 |
| Change in growth rate Growth | +1.3pp | +0.6pp | 16 of 38 |
| Operating margin Profitability | -6.6% | 13.9% | 14 of 16 |
| Net margin Profitability | -7.8% | 10.5% | 33 of 39 |
| Stock pay as % of revenue Cash generation | 4.5% | 1.3% | 32 of 36 |
| Change in share count Balance sheet | 1.7% | -0.0% | 26 of 38 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $4B
- Institutions reporting
- 210
- Shares held vs prior quarter
- ▲ 7.2%
- Positions opened / closed
- 66 / 46
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Sc Us (Ttgp), Ltd. | $1.1B | 55.0M | 27.6% | 0.0% |
| Commonwealth Bank Of Australia | $352M | 17.4M | 8.7% | 0.0% |
| Softbank Group Corp. | $312M | 15.4M | 7.7% | 0.0% |
| Silver Lake Group, L.L.C. | $293M | 14.5M | 7.3% | 0.0% |
| Blackrock, Inc. | $115M | 5.7M | 2.9% | ▲ 89.6% |
| Scge Management, L.P. | $107M | 5.3M | 2.6% | 0.0% |
| Harbourvest Partners LLC | $102M | 5.0M | 2.5% | 0.0% |
| Marshall Wace, LLP | $100M | 5.0M | 2.5% | ▲ 26.0% |
| Pictet Asset Management Holding SA | $100M | 5.0M | 2.5% | ▲ 244.2% |
| Dragoneer Investment Group, LLC | $98.3M | 4.9M | 2.4% | ▼ 16.3% |
| Jpmorgan Chase & Co | $81.2M | 4.0M | 2.0% | ▲ 10400.2% |
| Technology Crossover Management X, Ltd. | $77.8M | 3.8M | 1.9% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Klarna Group plc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart Insider purchases History → $10M 1 trade by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $10M net buying
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Siemiatkowski Sebastian Chief Executive Officer | August 26, 2026 | Buy | 692,506 | $14.37 | $10M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Klarna Group plc in brief
- What does Klarna Group plc do?
- Klarna Group plc is a US-listed company in the consumer finance industry. Its financial year ends in December.
- What is Klarna Group plc's stock ticker?
- Klarna Group plc trades under the ticker KLAR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Klarna Group plc's revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Klarna Group plc reported revenue of $3.5B, 24.8% higher than a year earlier, according to its SEC filings.
- What is Klarna Group plc's free cash flow?
- Klarna Group plc's free-cash-flow margin is -29.5% of revenue over the trailing twelve months.
- Who are Klarna Group plc's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Sc Us (Ttgp), Ltd., Commonwealth Bank Of Australia and Softbank Group Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Klarna Group plc's competitors?
- In our Consumer Finance peer group, the companies closest to Klarna Group plc are Enova International, Inc., Bread Financial Holdings, Inc., Firstcash Holdings, Inc., SoFi Technologies, Inc. and Prog Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Klarna Group plc's.
- Are insiders buying or selling Klarna Group plc stock?
- Over the last 12 months, Klarna Group plc's directors and officers reported 1 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is Klarna Group plc's next earnings date?
- Around November 17, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Klarna Group plc announces its own schedule.
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