Addnode Group AB Class B (ANOD.B) AI Stock Analysis

Addnode Group AB Class B

(Nasdaq OMX AB:ANOD.B)

Select Model

Rating:64Neutral

Price Target:SEK 70.00▲(6.22% Upside)

Action:reiterated

Date:10/27/26

Strong technical indicators and fair valuation are the main contributors to the score, while financial performance is moderated by rising leverage and margin volatility.

Positive Factors

Solid ProfitabilityHealthy operating and net margins show that Addnode converts customer demand into meaningful earnings across its software and services activities. Resilient TTM net income despite volatile revenue indicates an established operating base that can support reinvestment and ongoing customer delivery.

Negative Factors

Higher LeverageThe substantial increase in debt relative to equity leaves Addnode with less balance-sheet flexibility than in 2022. Higher leverage can increase financial pressure if earnings weaken, while debt service and refinancing needs may constrain investment choices during a softer operating period.

Addnode Group AB Class B (ANOD.B) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 9.00B
Dividend Yield: 1.75%
Average Volume (3M): 541.62K
Price to Earnings (P/E): 23.6
Beta (1Y): 0.57
Revenue Growth: 4.71%
EPS Growth: -1.34%
Country: Sweden
Employees: 2,988
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

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 international...

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 third-p...

Addnode Group AB Class B Financial Statement Overview

Summary

Revenue growth has been strong historically with stable net income, but volatile gross margins and increasing debt levels on the balance sheet introduce some risks despite positive cash flows.

Income Statement

58Neutral

Balance Sheet

45Neutral

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.98B	5.79B	7.76B	7.41B	6.22B	4.08B
Gross Profit	2.63B	737.00M	4.20B	511.00M	1.32B	832.00M
EBITDA	1.13B	1.12B	1.08B	724.00M	845.00M	547.00M
Net Income	379.00M	384.00M	402.00M	279.00M	382.00M	223.00M
Balance Sheet
Total Assets	9.53B	9.80B	8.58B	7.20B	6.20B	4.32B
Cash, Cash Equivalents and Short-Term Investments	792.00M	625.00M	674.00M	667.00M	600.00M	406.00M
Total Debt	3.43B	3.09B	1.73B	1.67B	1.07B	776.00M
Total Liabilities	6.47B	7.07B	6.12B	5.08B	4.19B	2.63B
Stockholders Equity	3.06B	2.73B	2.46B	2.12B	2.00B	1.69B
Cash Flow
Free Cash Flow	525.00M	153.00M	491.00M	283.00M	585.00M	329.00M
Operating Cash Flow	759.00M	430.00M	701.00M	485.00M	714.00M	437.00M
Investing Cash Flow	-1.19B	-1.69B	-532.00M	-672.00M	-490.00M	-398.00M
Financing Cash Flow	839.00M	1.29B	-211.00M	276.00M	-63.00M	-305.00M

Addnode Group AB Class B Technical Analysis

Technical Analysis SentimentPositive

Last Price65.90

Price Trends

50DMA51.79Positive

100DMA46.26Positive

200DMA54.82Positive

Market Momentum

MACD4.23Negative

RSI80.27Negative

STOCH92.66Negative

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 65.90 is above the 20-day moving average (MA) of 57.61, above the 50-day MA of 51.79, and above the 200-day MA of 54.82, indicating a bullish trend. The MACD of 4.23 indicates Negative momentum. The RSI at 80.27 is Negative, neither overbought nor oversold. The STOCH value of 92.66 is Negative, 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:ANOD.B against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:PACT	78Outperform	SEK 3.78B	16.24	21.32%	1.73%	3.73%	55.91%
SE:EXS	68Neutral	SEK 1.53B	24.15	11.71%	1.67%	9.08%	-14.10%
SE:ANOD.B	64Neutral	SEK 9.00B	23.62	13.08%	1.75%	4.71%	-1.34%
SE:SOF.B	63Neutral	SEK 1.01B	13.59	26.03%	7.05%	10.87%	-1.59%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SE:KNOW	60Neutral	SEK 3.21B	-11.65	-7.43%	2.05%	-5.94%	-382.16%
SE:DUST	49Neutral	SEK 2.13B	-2.69	―	―	2.94%	83.00%

* Technology Sector Average

Performance Comparison

SE:ANOD.B and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ANOD.B	Addnode Group AB Class B	65.90	-41.28	-38.52%
SE:SOF.B	Softronic AB Class B	19.16	-2.34	-10.86%
SE:EXS	Exsitec Holding AB	113.50	-43.82	-27.85%
SE:KNOW	Knowit AB	117.20	0.56	0.48%
SE:PACT	Proact IT Group AB	150.40	49.49	49.04%
SE:DUST	Dustin Group AB	1.57	-0.40	-20.08%

Addnode Group AB Class B Corporate Events

Addnode Group Delivers Strong Q3 on AI-Driven Growth and Public-Sector Wins

Oct 23, 2026

Addnode Group reported a strong third quarter in 2026, with net sales rising 10 percent to SEK 1,438 million and EBITA jumping to SEK 250 million, lifting the EBITA margin to 17.4 percent. Earnings, cash flow from operating activities, and profitabil...

Addnode Group Sets October 23 Presentation for Q3 2026 Interim Report

Oct 12, 2026

Addnode Group has invited investors, analysts, and media to an English-language presentation of its interim report for January to September 2026, to be held via audiocast and teleconference on Friday, October 23, 2026, at 09:30 AM CEST. The interim r...

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, s...

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 platform...

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.

Date of analysis: Oct 27, 2026

Addnode Group AB Class B AI Stock Analysis