EQT AB Group or EQT is a Stockholm, Sweden global, leading alternative asset manager.
EQT operates 270 billion EURs of assets under management of which 141 billion EURs are fee paying assets under management.
EQT's current market capitalization is 33.78 billion EURs.
EQT's net income for 2025 was 728 million EURs on 2.632 billion EURs revenue.
EQT has invested large part of its recently raised private equity assets in artificial intelligence, AI technology firms leveraged buyouts, its recently raised real estate assets into artificial intelligence, AI related data centers.
EQT is is undervalued in a base case scenario, namely AI adoption and productivity increase growing moderately, with intrinsic value of EQT of 39 billion EURs, according to Wolfteam Ltd.'s projections and estimates.
If AI lives up to the most optimistic forecasts of Wall Street research analysts and investors and of Silicon Valley technologists and investors and changes deeply our world by profoundly increasing humanity's productivity, EQT's market capitalization could rise to 59 billion EURs.
If on the other hand, the current artificial intelligence, AI boom turns into a bust and the Nasdaq Composite falls more than 62 % from its recent all time high, EQT's market capitalization could fall to 12 billion EURs, according to Wolfteam Ltd.'s projections and estimates.
In short, EQT's value is deeply intertwined with artificial intelligence, AI's development, like basically all other leading private equity, real estate, private credit, infrastructure alternative asset managers like Blackstone, KKR, Apollo, Carlyle, Ares, Blue Owl, CVC, etc.'s fate. Because the leading alternative asset managers have to a large extent underwritten the current artificial intelligence, AI boom.
Key operational metrics
Distributions to shareholders€m 2025 2024
Dividends 461 373
Share repurchases 296 118
Total 757 4912025 2024
Gross fund investments (€bn ) 16 22
Gross fund exits (€bn ) 19 11
FAUM (€bn , end of period ) 141 136
Total AUM (€bn , end of period ) 270 269
FTE (end of period) 1,863 1,886
Consolidated income statement
The below table shows figures according to IFRS Accounting Standards . For adjusted
figures corresponding to the internal reporting please refer to Note 1 and section
”Alternative performance measures (APM)”.€m Note H2 2025 H2 2024 2025 2024
Management fees 1,060 1,016 2,173 2,053
Fee-related performance revenues 9 0 10 0
Transaction, advisory, and other fees 64 41 100 51
Fee-related revenue 1,133 1,057 2,283 2,104
Carried interest and investment income 3 227 364 349 549
Total revenue 1 1,360 1,421 2,632 2,653
Personnel expenses -438 -424 -882 -844
Acquisition related personnel expenses -39 -97 -96 -228
Other operating expenses 4 -142 -138 -273 -257
Total operating expenses -618 -659 -1,251 -1,329
Operating profit before depreciation and amortization (EBITDA) 741 762 1,382 1,324
Depreciation and amortization -41 -34 -79 -71
Amortization of acquisition related intangible assets -171 -183 -350 -365
Operating profit (EBIT) 529 545 953 888
Net financial income and expenses -67 -0 -57 11
whereof change in fair value of contingent consideration - 16 - 16
Profit before income tax (EBT) 462 545 896 899
Income taxes -80 -51 -168 -123
Net income 382 494 728 776
Attributable to
- Owners of the parent company 382 494 728 776
- Non-controlling interests - - - -
Earnings per share , €
before dilution 0.326 0.418 0.619 0.656
after dilution 0.325 0.418 0.618 0.656
Average number of shares
before dilution 1,173,315,881 1,181,750,349 1,176,544,588 1,183,153,914
after dilution 1,175,331,390 1,182,762,833 1,178,560,097 1,184,166,399
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