**GULD (Guldbrev Holding) – High-growth gold recycling play with \~11% dividend yield, 4.4x P/E, booming revenue. Strong buy in this gold bull market.**
**What is Guldbrev?**
Swedish/Nordic leader (Sweden, Norway, Finland) in buying gold/jewelry from consumers via easy mail-in “Guldbrev” kits. They recycle and resell the gold. Digital, scalable model — order envelope, send gold, get paid fast (Swish/bank). Founded 2009, IPO’d Oct 2025 on Nasdaq First North amid record gold prices.
**Explosive Financials (TTM as of mid-2026)**
• **Revenue**: \~476 MSEK (+110% YoY) — Q1 2026 alone: 154 MSEK (+86%).
• **Net Income**: \~87 MSEK (+118%)
• **EPS**: \~4.16
• **Profit Margin**: \~18%
• **ROE**: \~125% (insanely efficient)
• **Market Cap**: \~383 MSEK (\~18.25 SEK/share) → forward P/E even lower.
**Dividend Yield: \~11%** (2.02 SEK annual, payout policy 60-80% of profits). Ex-div April 2026. High yield with growth — rare combo.
They crush it when gold prices are high: more people sell scrap/jewelry for cash.
**Why Bullish (Persuasive Case)**
• **Gold Tailwinds**: Record prices drive volume. Scalable mail-in model captures convenience seekers.
• **Cheap Valuation**: 4.4x earnings for a high-margin, growing business. Tiny float, high ROE.
• **Dividend Machine**: Generous payouts + reinvestment potential.
• **Customer Base**: 100k+ satisfied users, solid Trustpilot (4.3+ stars).
• Growth runway in Nordics + potential expansion.
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**Bottom Line**: GULD is a cash-flowing, dividend-paying growth stock riding the gold wave at a bargain price. High yield + upside from expansion makes this compelling for income + appreciation.