B3 Consulting Group AB (B3) AI Stock Analysis

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B3 Consulting Group AB

(Nasdaq OMX AB:B3)

Select Model

Rating:50Neutral

Price Target:SEK 23.00▲(0.44% Upside)

Action:reiterated

Date:10/31/26

The overall stock score of 50 is heavily weighed down by a highly stretched valuation (P/E of 86.6x) and severe margin compression that has decimated bottom-line profitability. However, the rating is kept from falling further thanks to the firm's resilient free cash flow generation and a recently recovering short-term technical uptrend.

Positive Factors

Strong recent cash generationRecent operating and free cash flow provide internal funding for investment and help support financial resilience over the next several quarters. Free cash flow is also broadly in line with reported earnings, although historical volatility means sustained conversion remains important.

Negative Factors

Revenue contractionThe latest revenue decline indicates that demand or project activity has weakened after growth in 2025. Persistent contraction would reduce the pool of billable work, make utilization and staffing harder to manage, and limit operating leverage across the consulting platform.

B3 Consulting Group AB (B3) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 217.06M
Dividend Yield: ―
Average Volume (3M): 9,557
Price to Earnings (P/E): 86.6
Beta (1Y): 0.14
Revenue Growth: -6.29%
EPS Growth: -9.04%
Country: Sweden
Employees: 874
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

B3 Consulting Group AB Business Overview & Revenue Model

Company Description

Operating out of Stockholm, Sweden, B3 Consulting Group AB (publ) specializes in delivering IT and management advisory services throughout Sweden. The company, which was founded in 2003, underwent a name change in May 2018, transitioning from its for...

How the Company Makes Money

B3 primarily makes money by selling consulting services on a business-to-business basis, where revenue is generated from professional fees for delivering expertise and project work to clients. The core revenue stream is billable consulting hours (tim...

B3 Consulting Group AB Financial Statement Overview

Summary

The company faces severe margin compression and steeply declining net income, heavily weighing on profitability and equity returns. Fortunately, robust operating and free cash flow generation serves as a critical buffer, offering vital liquidity and stability.

Income Statement

35Negative

Balance Sheet

45Neutral

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.15B	1.21B	1.13B	1.14B	1.15B	921.89M
Gross Profit	96.20M	301.60M	286.00M	180.60M	358.18M	146.28M
EBITDA	74.70M	78.60M	141.90M	113.40M	158.30M	88.06M
Net Income	4.40M	10.90M	83.30M	60.50M	103.30M	45.29M
Balance Sheet
Total Assets	784.30M	835.80M	885.30M	632.60M	622.98M	559.72M
Cash, Cash Equivalents and Short-Term Investments	50.50M	63.50M	77.70M	48.90M	83.39M	54.24M
Total Debt	0	328.50M	303.00M	171.00M	100.03M	104.52M
Total Liabilities	516.60M	576.00M	623.10M	452.40M	395.03M	365.11M
Stockholders Equity	231.80M	212.70M	232.50M	156.70M	194.95M	174.32M
Cash Flow
Free Cash Flow	47.60M	36.90M	-19.10M	63.20M	150.93M	75.50M
Operating Cash Flow	48.50M	37.90M	-14.60M	67.80M	151.71M	77.66M
Investing Cash Flow	-5.80M	-70.30M	-18.50M	-2.10M	-4.47M	-7.36M
Financing Cash Flow	-28.70M	19.20M	61.70M	-100.20M	-118.09M	-62.45M

B3 Consulting Group AB Technical Analysis

Technical Analysis SentimentNeutral

Last Price22.90

Price Trends

50DMA22.38Positive

100DMA21.29Positive

200DMA27.50Negative

Market Momentum

MACD0.58Negative

RSI52.34Neutral

STOCH68.66Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:B3, the sentiment is Neutral. The current price of 22.90 is above the 20-day moving average (MA) of 22.17, above the 50-day MA of 22.38, and below the 200-day MA of 27.50, indicating a neutral trend. The MACD of 0.58 indicates Negative momentum. The RSI at 52.34 is Neutral, neither overbought nor oversold. The STOCH value of 68.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:B3.

B3 Consulting Group AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:B3 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
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%
SE:AVEN	62Neutral	SEK 240.56M	24.49	24.58%	18.52%	-6.72%	-59.27%
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:B3	50Neutral	SEK 217.06M	86.61	1.99%	―	-6.29%	-9.04%

* Technology Sector Average

Performance Comparison

SE:B3 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:B3	B3 Consulting Group AB	22.90	-20.20	-46.87%
SE:AVEN	Avensia AB	6.48	-1.35	-17.26%
SE:SOF.B	Softronic AB Class B	19.16	-2.34	-10.86%
SE:ANOD.B	Addnode Group AB Class B	65.90	-41.28	-38.52%
SE:EXS	Exsitec Holding AB	113.50	-43.82	-27.85%
SE:KNOW	Knowit AB	117.20	0.56	0.48%

B3 Consulting Group AB Corporate Events

B3 Consulting Group Moves to List SEK 250m Bond on Nasdaq Stockholm

Sep 22, 2026

B3 Consulting Group AB has taken a further step in its financing strategy by publishing a prospectus and applying to list its recently issued senior secured bonds on Nasdaq Stockholm’s corporate bond list. The bonds, initially issued in July 20...

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 31, 2026

B3 Consulting Group AB AI Stock Analysis

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