Patrick Wallén
Board member · CEO
Patrick brings over 20 years of experience in finance and capital structuring, ensuring that projects meet institutional requirements and are positioned for scalable investment.
All portfolio companiesCore operating holding
Pending verificationBoard & Management Verified Operating DataPending verification
Kapitalanalyser
Kapitalanalyser i Sverige AB · Org.nr 559269-0084 · Updated 2026-10-06
Financial analysis · Investment advisory
100%
PVW ownership
€0.35m
100% company value
€0.35m
Attributable to PVW
EBITDA / DCF
Valuation approach
Valuation sourcePVW reference valuation
Swedish operating company amounts are converted from SEK at a fixed reference rate of EUR/SEK 11.29. Fund references, international financing references and case studies are shown in original currency where relevant. Conversions are shown for reference only.
Monthly summary
Preparing this month's summary…
AI-generated each month solely from the company's own information on this page. Not reviewed or audited; the company page and legal documents prevail.
Shareholder briefUpdated 2026-10-06
Kapitalanalyser is entering a 2027 expansion phase: a platform built over several years, now scaling with new customers, larger mandates, new hires with their own customer books and new technology.
Net sales 2024
€71.1k
Growth vs prior year
1.0x
Net income
−€2.7k
From the latest annual accounts in the financials section below.
- New customers and larger mandates
New customers coming in; existing customers expected to bring larger capital volumes.
- Hiring with customer books
New hires coming in with their own large customer books.
A
The investment case
“Kapitalanalyser is entering a 2027 expansion phase: a platform built over several years, now scaling with new customers, larger mandates, new hires with their own customer books and new technology.”
Role in portfolio: Wholly owned operating base and analytical engine of the group.
Why does it matter?
Analysis and structuring capability sources and evaluates every PVW investment — and the same capability is now being sold at scale externally.
What is the plan?
2027 commercial target: SEK 5–10m revenue at a 30–40% EBITDA margin, driven by new customers, larger mandates, new hires with their own books, new website, technology and portfolios.
What is the regulatory perimeter?
Analysis, education and corporate advisory are kept separate from regulated advice.
B
Operating reality today
Public accounts show the historical legal-entity position. PVW also reports Board & Management Verified Operating Data where the current commercial reality has moved materially ahead of the latest filed accounts.
2027 expansion: SEK 5–10m at 30–40% EBITDA
Historical legal-entity accounts were small. The platform, customer base, technology, portfolio infrastructure and hiring base are now positioned for significant 2027 expansion: new customers are coming in, existing customers are expected to bring larger capital volumes, a new website, new technologies and new portfolios are launching, and new hires arrive with their own large customer books.
Historical legal-entity accountsPublished financial summary
€74.8k
Net sales 2023
€71.1k
Net sales 2024
2027 Board & Management commercial targetBoard-approved commercial target
SEK 5–10m
Revenue target
30–40%
EBITDA margin target
SEK 1.5–4.0m
EBITDA range
100%
PVW ownership
C
Financial history (public)
Net sales, operating income, EBITDA, EBIT and net income are never mixed. No figures are interpolated.
| Line item | 2023 (12m) | 2024 (12m) |
|---|---|---|
| Net sales | €74.8k | €71.1k |
| Net income | €19.7k | −€2.7k |
| Source | Published financial summary | Published financial summary |
← Swipe to see the full table →
Net sales development
€74.8k2023
€71.1k2024
Historical accounts reflect the build phase of the legal entity, not the 2027 platform.
From start to today
2020
Company formed
Analysis and advisory activity.
Public filing
2023
Profitable year
Revenue ~SEK 0.85m, result ~SEK +0.22m.
Published financial summary
2026
Hiring begins
Build-out toward SEK 5–10m.
Board & Management Verified Operating Data
E
Verified operating update & traction
Board & Management Verified Operating Data, shown separately from filed accounts.
New customers and larger mandates
New customers coming in; existing customers expected to bring larger capital volumes.
DeliveredBoard & Management Verified Operating Data
Hiring with customer books
New hires coming in with their own large customer books.
In executionBoard & Management Verified Operating Data
Platform relaunch
New website, new technologies and new portfolios.
DeliveredBoard & Management Verified Operating Data
2027 target
SEK 5–10m at 30–40% EBITDA margin.
Commercial targetBoard-approved commercial target
kapitalanalyser.se
More than 10,000 unique visitors per month since launch in Q3 2026 (company-reported).
DeliveredBoard & Management Verified Operating Data
Board
Patrick Wallén is a board member and will become chair once the new hires and a new CEO are in place.
In executionBoard & Management Verified Operating Data
G
Financial engine
PVW analytical scenario — not company guidance.
2027 Board & Management commercial target — EBITDA sensitivity
| Revenue ↓ / Margin → | 30% | 35% | 40% |
|---|---|---|---|
| €0.44m | €0.13m PVW €0.13m | €0.16m PVW €0.16m | €0.18m PVW €0.18m |
| €0.66m | €0.20m PVW €0.20m | €0.23m PVW €0.23m | €0.27m PVW €0.27m |
| €0.89m | €0.27m PVW €0.27m | €0.31m PVW €0.31m | €0.35m PVW €0.35m |
← Swipe to see the full table →
Implied profit by the confirmed margin metric; PVW figure is pro-rata exposure before tax, dividends, rights, financing and dilution. Not actual profit, not current valuation, not a guaranteed distribution.
I
Valuation & value creation
Reference equity value (100%)
€0.35m
PVW economic ownership
100%
PVW attributable equity value
€0.35m
Method
EBITDA / DCF
| Multiple of today | 1× | 2× | 3× | 5× | 10× | 20× |
|---|---|---|---|---|---|---|
| Company value | €0.35m | €0.71m | €1.06m | €1.77m | €3.54m | €7.09m |
| PVW attributable | €0.35m | €0.71m | €1.06m | €1.77m | €3.54m | €7.09m |
← Swipe to see the full table →
Illustrative valuation sensitivity — not a forecast or guarantee. Based on equity value, not enterprise value. Growth scenarios are not included in current NAV.
Value creation bridge
- Today
- Founder-led analysis
- Hiring and productivity
- Recurring retainers
- SEK 5–10m revenue
- 30–40% EBITDA
- Platform value
- Future enterprise value
Value today vs optionality
Current economic value
Small, wholly owned advisory business; SEK 4m reference value.
Future optionality (not in NAV)
Scalable analysis and wealth-architecture platform.
Reference cases
No meaningful comparable has been verified yet; none is shown rather than an unsourced one.
M
Ownership scorecard
PVW internal assessment. Conviction with discipline.
Market size14 / 20
Growth12 / 15
Margins8 / 10
Recurring revenue8 / 10
Competitive moat7 / 10
Customer quality8 / 10
Capital efficiency9 / 10
Management / founder5 / 5
Strategic optionality5 / 5
Exit potential4 / 5
80
/ 100
PVW conviction
High
Established business with a defined expansion target.
Data basis: Medium — modest history; 2027 expansion set as Board & Management target.
Top strengths
- + 100% owned
- + 30–40% EBITDA model at scale
- + Hires bring own customer books
Top risks
- − Small historical revenue
- − Founder dependency until team scales
- − Regulatory perimeter
N
What can go wrong?
Key person
Dependent on the founder until hires are productive.
Regulatory
Must stay within non-licensed scope or obtain permissions.
What would invalidate the thesis?
- Hires fail to reach productivity; revenue stays below SEK 2m.
O
12–36 month catalysts & what needs to happen next
2027
First year of team scale
Revenue per employee becomes measurable.
Commercial target
Five most important milestones
Q4 2026
Onboard new hires and books
Revenue capacity.
Signed
Q4 2026
Launch new website and portfolios
Customer acquisition.
Delivered
2027
Scale mandates
Larger capital volumes per customer.
Commercial target
2027
SEK 5–10m revenue
30–40% EBITDA.
Commercial target
2027–2028
Recurring model
Revenue quality.
Commercial target
Q
Sources & documents
Confidential documents are released through the data room on request, never through public links.
Annual report (original)
Annual reports · Approved shareholder access
Valuation memo
Valuation memos · Confidential data room
Shareholder register extract
Shareholder agreements · Confidential data room
Request access: patrickvwallen@gmail.com · +46 70 491 44 43
R
Chairman’s memo — why PVW owns it
Kapitalanalyser is where PVW's analytical method lives. PVW owns it outright because the capability is core to the group. Historical numbers are small and are shown as they are. PVW would invest further when hires prove productive; it would reconsider the stand-alone ambition if external revenue does not follow.
Patrick Wallén · PVW Capital AB · 2026-10-06
The people behind the company
Board of directors
ML
Märtha Louise Blom
Deputy board member
Source: Bolagsverket via public company registers (Kapitalanalyser i Sverige AB). Patrick Wallén is to become chairman once new hires and a new CEO are in place.
›Appendix: Original company background
01
Overview
A wholly owned operating business within financial analysis and investment advisory, and one of the core operating businesses of the group.
02
Ownership
PVW ownership: 100%. Wholly owned. Company value €0.35m, of which €0.35m is attributable to PVW.
03
Business
Financial analysis and investment advisory. PVW is the sole owner.
04
Market
Swedish capital markets and the advisory layer around private and growth companies. Demand follows transaction activity, financing needs and the growing requirement for independent analysis.
05
Investment thesis
A wholly owned operating business within financial analysis and investment advisory, and one of the core operating businesses of the group.
06
Value creation
Full ownership allows direct investment decisions and close operational alignment.
07
Management
Operationally close to PVW. Patrick Wallén is directly involved as owner and board representative; the business is run by its own team within a defined mandate.
08
Milestones
The focus is a more recurring revenue base, a repeatable analysis and advisory methodology, and closer integration with the rest of the group as an analytical resource.
09
Risks
Key-person dependency and regulatory risk inherent in advisory activity.
10
Future opportunities
As a wholly owned business it can carry group-level analysis capacity, generate cash for reinvestment, and scale through productised analysis rather than purely through hours sold.