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Addnode Group AB Class B
(ANOD.B)
Select Model
Select Model
Rating:61Neutral
Price Target:
kr51.00
▲(11.96% Upside)
Action:Reiterated
Date:09/09/26
The score is primarily driven by mixed financial performance: strong profitability and improving cash flow are offset by a sharp revenue decline and elevated leverage. Technically, momentum is positive but overbought signals increase near-term risk, while valuation is reasonable but not notably cheap at a 20.33 P/E with a 2.37% yield.
Positive Factors
Healthy profitability and returns
Addnode retains solid profitability despite weaker revenue, with healthy EBIT, EBITDA, and net margins. Consistently reasonable returns on equity indicate that the operating model still converts its business activities into attractive returns, supporting resilience and continued investment capacity over the coming quarters.
Negative Factors
Sharp revenue contraction
The consecutive revenue declines signal a materially weaker top-line trajectory than in 2022–2024. Persistent contraction can reduce operating leverage, constrain investment capacity, and make it harder for Addnode to sustain profitability if demand does not recover over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy profitability and returns
Addnode retains solid profitability despite weaker revenue, with healthy EBIT, EBITDA, and net margins. Consistently reasonable returns on equity indicate that the operating model still converts its business activities into attractive returns, supporting resilience and continued investment capacity over the coming quarters.
Read all positive factors
Addnode Group AB Class B (ANOD.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr6.44B
Dividend Yield2.37%
Average Volume (3M)604.50K
Price to Earnings (P/E)20.3
Beta (1Y)0.75
Revenue Growth-6.48%
EPS Growth-24.43%
CountrySE
Employees2,988
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)2.39
Shares Outstanding132,603,970
10 Day Avg. Volume1,023,755
30 Day Avg. Volume604,500
Financial Highlights & Ratios
PEG Ratio-6.80
Price to Book (P/B)4.75
Price to Sales (P/S)2.24
P/FCF Ratio84.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.2
Revenue Forecast (FY)kr6.02B
Addnode Group AB Class B Business Overview & Revenue Model
Company Description
Addnode Group AB (publ) offers software and services for the design, construction, product data information, project collaboration, and facility management in Sweden, Nordic countries, the United States, the United Kingdom, Germany, and internatio...
How the Company Makes Money
Addnode Group makes money primarily by selling and delivering software-related solutions and services across its business areas. Key revenue streams include: (1) Software licensing and subscriptions: revenue from supplying software (including thir...
Addnode Group AB Class B Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
54
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.86B | 5.79B | 7.76B | 7.41B | 6.22B | 4.08B |
| Gross Profit | 2.55B | 737.00M | 4.20B | 511.00M | 1.32B | 832.00M |
| EBITDA | 1.07B | 1.12B | 1.08B | 724.00M | 771.00M | 487.00M |
| Net Income | 324.00M | 384.00M | 402.00M | 279.00M | 382.00M | 223.00M |
Balance Sheet | ||||||
| Total Assets | 9.49B | 9.80B | 8.58B | 7.20B | 6.20B | 4.32B |
| Cash, Cash Equivalents and Short-Term Investments | 701.00M | 625.00M | 674.00M | 667.00M | 600.00M | 406.00M |
| Total Debt | 3.15B | 3.09B | 1.73B | 1.67B | 1.07B | 776.00M |
| Total Liabilities | 6.64B | 7.07B | 6.12B | 5.08B | 4.19B | 2.63B |
| Stockholders Equity | 2.84B | 2.73B | 2.46B | 2.12B | 2.00B | 1.69B |
Cash Flow | ||||||
| Free Cash Flow | 389.00M | 153.00M | 491.00M | 283.00M | 585.00M | 329.00M |
| Operating Cash Flow | 685.00M | 430.00M | 701.00M | 485.00M | 714.00M | 437.00M |
| Investing Cash Flow | -1.69B | -1.69B | -532.00M | -672.00M | -490.00M | -398.00M |
| Financing Cash Flow | 962.00M | 1.29B | -211.00M | 276.00M | -63.00M | -305.00M |
Addnode Group AB Class B Technical Analysis
Positive
45.55
Price Trends
41.98
Positive
44.78
Positive
61.89
Negative
Market Momentum
1.92
Negative
69.00
Neutral
52.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ANOD.B, the sentiment is Positive. The current price of 45.55 is above the 20-day moving average (MA) of 45.15, above the 50-day MA of 41.98, and below the 200-day MA of 61.89, indicating a neutral trend. The MACD of 1.92 indicates Negative momentum. The RSI at 69.00 is Neutral, neither overbought nor oversold. The STOCH value of 52.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ANOD.B.
Addnode Group AB Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | kr1.17B | 15.63 | 26.28% | 6.08% | 13.11% | -7.85% | |
71 Outperform | kr1.66B | 19.05 | 16.46% | 1.55% | 7.42% | 44.33% | |
65 Neutral | kr3.36B | 18.21 | 17.78% | 1.91% | 0.67% | 15.28% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | kr6.44B | 20.27 | 11.60% | 2.37% | -6.48% | -24.43% | |
57 Neutral | kr2.35B | -2.89 | ― | 1.15% | 4.48% | 82.93% | |
55 Neutral | kr2.55B | -9.06 | -7.72% | 2.49% | -7.52% | -458.49% |
* Technology Sector Average
SE:ANOD.B
Addnode Group AB Class B
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Addnode Group AB Class B Corporate Events
Addnode Group’s Symetri Buys AI-Driven Facility Management Platform SpaceIntel
Aug 18, 2026
Addnode Group’s design management subsidiary Symetri has acquired the operations of SpaceIntel, a U.S.-based AI-enabled facility management software platform. SpaceIntel’s technology allows organizations to manage facilities, equipment...
Addnode Group lands SEK 100 million digital case management deal with City of Stockholm
Aug 17, 2026
Addnode Group’s Process Management division, through its subsidiary Sokigo, has secured a 10-year case management contract with the City of Stockholm worth about SEK 100 million, one of the largest municipal deals in its portfolio. The platf...
Addnode Group Restructures Symetri as Autodesk Cycles Pressure Q2 Earnings
Jul 15, 2026
Addnode Group reported second-quarter 2026 net sales of SEK 1,449 million, flat year-on-year but with organic decline once adjusted for a strong prior-year renewal cycle in three-year Autodesk agreements. Profitability weakened as EBITA fell to SE...
Addnode Group Schedules July 15 Presentation of H1 2026 Interim Report
Jul 1, 2026
Addnode Group AB has invited investors, analysts and media to an English-language presentation of its interim report for January to June 2026, to be held on July 15 at 11:00 a.m. CEST via audiocast and teleconference where participants can ask que...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.