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Byggmax Group AB (BMAX) AI Stock Analysis

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SE:BMAX

Byggmax Group AB

(Nasdaq OMX AB:BMAX)

Select Model
Rating:68Neutral
Price Target:SEK 67.00â–²(3.08% Upside)
Action:reiterated
Date:10/23/26

The score is driven primarily by improving financial quality—especially the sharply better leverage profile and consistently positive free cash flow—tempered by thin/volatile margins and slowing cash-flow momentum. Technicals add support due to a clear uptrend and positive MACD, but overbought RSI/Stoch readings limit the upside in the near term. Valuation is reasonable (P/E ~13.9) with a moderate dividend yield (~2.6%), contributing a modest positive tilt.

Positive Factors
DeleveragingThe substantial reduction in debt and leverage strengthens Byggmax’s financial resilience and lowers the burden on future cash flows. A healthier balance sheet gives management greater flexibility to fund operations, absorb weaker trading conditions, and pursue investment without relying as heavily on external financing.
Negative Factors
Thin MarginsA gross margin near 5.6% leaves limited room to absorb supplier-cost increases, discounting, or operating inefficiencies before earnings are affected. Historical volatility further reduces confidence in margin sustainability and makes future profitability more sensitive to competitive pricing and product mix.

Byggmax Group AB (BMAX) vs. iShares MSCI Sweden ETF (EWD)

-10%0%10%20%30%40%50%SE:BMAX+42.29%EWD+15.23%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
SEK 3.80B
Dividend Yield
2.54%
Average Volume (3M)
171.55K
Price to Earnings (P/E)
14.3
Beta (1Y)
0.64
Revenue Growth
2.24%
EPS Growth
51.71%
Country
Sweden
Employees
1,344
Sector
Consumer Cyclical
Sector Strength
61
Industry
Home Improvement

Byggmax Group AB Business Overview & Revenue Model

Company Description

Byggmax Group AB (publ) functions as a retailer specializing in building materials and related merchandise for do-it-yourself (DIY) initiatives. Its operations encompass Sweden, Norway, and other international markets including Finland and Denmark. T...

How the Company Makes Money

Byggmax Group AB makes money primarily by purchasing building materials and DIY-related products from suppliers and reselling them to customers at a markup through its retail channels. The company’s main revenue stream is net sales from in-store and...

Byggmax Group AB Financial Statement Overview

Summary

Financials are stable-to-improving. Balance sheet strength is a key positive with debt reduced meaningfully (TTM debt 1.75B vs 3.26B in 2025) and improved debt-to-equity (~0.63 vs ~1.30). Cash flow is solid (TTM FCF 706M) with good earnings quality (FCF ~0.92x net income), but both FCF and OCF momentum have weakened versus prior periods. Profitability has rebounded (TTM net income 267M vs 191M in 2025), yet margins are thin and historically volatile (TTM gross margin ~5.6%), limiting the score.

Income Statement

58Neutral

Balance Sheet

67Positive

Cash Flow

72Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue6.29B6.13B5.99B6.11B7.26B7.64B
Gross Profit350.00M309.00M2.08B132.00M2.46B2.61B
EBITDA978.00M941.00M857.00M780.00M1.07B1.36B
Net Income267.00M191.00M67.00M26.00M313.00M621.00M
Balance Sheet
Total Assets5.67B5.46B5.91B6.17B6.51B6.07B
Cash, Cash Equivalents and Short-Term Investments21.00M11.00M11.00M10.00M19.00M43.00M
Total Debt1.75B3.26B2.48B2.74B2.87B2.19B
Total Liabilities2.90B2.95B3.50B3.80B4.15B3.82B
Stockholders Equity2.77B2.52B2.40B2.36B2.36B2.25B
Cash Flow
Free Cash Flow706.00M752.00M780.00M635.00M281.00M585.00M
Operating Cash Flow764.00M809.00M860.00M781.00M536.00M814.00M
Investing Cash Flow-97.00M-79.00M-77.00M-153.00M-308.00M-466.00M
Financing Cash Flow-940.00M-731.00M-783.00M-654.00M-253.00M-375.00M

Byggmax Group AB Technical Analysis

Technical Analysis SentimentPositive
Last Price65.00

Price Trends

50DMA55.07Positive
100DMA52.74Positive
200DMA52.76Positive

Market Momentum

MACD3.09Negative
RSI78.43Negative
STOCH86.90Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BMAX, the sentiment is Positive. The current price of 65.00 is above the 20-day moving average (MA) of 58.50, above the 50-day MA of 55.07, and above the 200-day MA of 52.76, indicating a bullish trend. The MACD of 3.09 indicates Negative momentum. The RSI at 78.43 is Negative, neither overbought nor oversold. The STOCH value of 86.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BMAX.

Byggmax Group AB Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

SE:BMAX against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
SE:RUGSE:RUG69NeutralSEK 1.45B21.4211.99%2.15%11.47%15.20%
SE:BMAXSE:BMAX68NeutralSEK 3.80B14.2510.43%2.54%2.24%51.71%
Sector *61Neutral$18.38B12.79-2.54%3.03%1.52%-15.83%
SE:DSNOSE:DSNO59NeutralSEK 119.79M-43.97-2.54%―-8.90%67.39%
SE:ELUX.BSE:ELUX.B43NeutralSEK 24.39B-8.37-14.85%―-2.98%-417.18%
SE:BALCOSE:BALCO40UnderperformSEK 308.49M-4.00-10.77%―1.85%-108.37%
SE:BONAV.BSE:BONAV.B40UnderperformSEK 2.32B-1790.000.01%―-4.88%―

* Consumer Cyclical Sector Average

Performance Comparison

-25%0%25%50%SE:BMAXSE:ELUX.BSE:DSNOSE:RUGSE:BONAV.BSE:BALCODec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
SE:BMAX and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
SE:BMAXByggmax Group AB65.0018.4539.63%
SE:ELUX.BElectrolux Ab Class B30.45-2.56-7.75%
SE:DSNODesenio Group AB0.130.0567.11%
SE:RUGRugVista Group AB70.90-2.94-3.98%
SE:BONAV.BBonava AB Class B7.16-3.42-32.33%
SE:BALCOBalco Group AB13.40-5.30-28.34%

Byggmax Group AB Corporate Events

Byggmax launches SEK 60 million share buy-back to optimize capital structure

Oct 20, 2026

Byggmax Group AB, the Nordic low-cost building materials and DIY retailer, is leveraging its strong financial position and cash-generative operations to adjust its capital structure in favour of shareholders. The group continues to balance investment...

Byggmax boosts Q3 sales and profitability as it sharpens commercial focus

Oct 20, 2026

Byggmax Group reported a solid third quarter of 2026, with net sales rising 7.1 percent to SEK 2,088 million and like-for-like sales up 5.1 percent, driven mainly by higher volumes and increased customer numbers. Strong demand in timber, energy effic...

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 23, 2026