BTS Group AB AI Stock Analysis
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BTS Group AB (BTS.B) AI Stock Analysis
BTS Group AB
(Nasdaq OMX AB:BTS.B)
BTS Group AB's overall score is primarily driven by excellent earnings momentum—highlighted by raised guidance and material AI-driven productivity gains—as well as strong bullish market trends. However, the score is heavily constrained by significant recent margin contractions in its core financials and a premium valuation (P/E over 54).
BTS Group AB (BTS.B) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 432.98M
- Dividend Yield
- 1.64%
- Average Volume (3M)
- 28.23K
- Price to Earnings (P/E)
- 42.5
- Beta (1Y)
- 0.66
- Revenue Growth
- 0.19%
- EPS Growth
- -24.12%
- Country
- Sweden
- Employees
- 1,078
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Consulting Services
BTS Group AB Business Overview & Revenue Model
Company Description
BTS Group AB (publ) functions as a dedicated professional services provider, organizing its operations across distinct segments: BTS North America, BTS Europe, BTS Other Markets, and APG. The company delivers a comprehensive suite of solutions tailor...
How the Company Makes Money
BTS primarily makes money by delivering professional services to enterprise and institutional clients. Its core revenue is generated from fees for designing and delivering customized transformation initiatives, leadership and talent development progr...
BTS Group AB Earnings Call Summary
The call conveyed solid operational momentum: group revenue (+9%) and EBITA (+13%) growth, a clear North America recovery, exceptional Europe performance, rapid AI-driven revenue expansion (AI now 10% of revenue and +221% YoY), and meaningful productivity gains (SEK 74m). Management raised guidance and highlighted strong cash conversion and a capital-light model. Key negatives are concentrated: Other Markets (Asia Pacific) underperformance with profit down 26% and margin deterioration, short-term one-off costs and severance related to restructuring and acquisitions, and an expected rise in AI token costs next year that will need to be offset by efficiency gains. On balance, positive operational trends and the sizable AI revenue opportunity outweigh the localized/short-term challenges.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management raised full‑year guidance to be "significantly better than 2025" after Q2 results showing 9% currency‑adjusted revenue growth, 13% profit growth and EBITA margin improvement to 12.3% (from 11.7%). They expect North America to stay strong in H2 after returning to double‑digit organic revenue growth and profitability up ~60% with EBITDA margin back to 37.5% (and, excluding two one‑off businesses plus the Sounding Board acquisition, margin would have been ~4 percentage points higher). Europe delivered 25% revenue growth and 38% profit growth with a 16.2% EBITDA margin, while Other Markets were flat on revenue with profits down 26% and margin slipping to 12.5% (from 17.9%) but are forecast to recover and post EBITDA growth as early as Q3. AI is now 10% of group revenue, AI‑related revenue grew 221% y/y to SEK 76m (with SEK 74m in realized AI productivity gains); token costs are currently ~USD 400k but are modeled to rise ~4x next year to USD 1.2–1.6m (offset in part by ongoing software optimizations and a new platform). Cash conversion was 84% LTM, the group remains net‑cash positive, and long‑term metrics include a 12% revenue CAGR since IPO (≈2/3 organic) with historical dividend payouts of 40–65% of PAT; management expects continued margin improvement from additional ~USD 1.15m annualized cost saves (plus ~USD 400k Q2 severance) and further operational rebalancing over the next ~4 quarters.
BTS Group AB Financial Statement Overview
Summary
Financial performance presents a mixed picture. While the company maintains a highly resilient, low-leverage balance sheet (0.40x debt-to-equity), severe operational headwinds have caused gross margins to collapse from 44.2% to roughly 8.0%. Cash flows, however, are showing early signs of stabilization.
Income Statement
40NegativeBalance Sheet
70PositiveCash Flow
60Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.80B | 2.70B | 2.80B | 2.68B | 2.53B | 1.92B |
| Gross Profit | 287.67M | 213.96M | 1.24B | 1.18B | 1.13B | 885.16M |
| EBITDA | 373.91M | 357.17M | 439.04M | 421.92M | 423.04M | 410.04M |
| Net Income | 123.09M | 132.51M | 386.96M | 214.81M | 198.41M | 214.70M |
Balance Sheet | ||||||
| Total Assets | 3.36B | 3.17B | 3.36B | 2.96B | 2.76B | 2.49B |
| Cash, Cash Equivalents and Short-Term Investments | 514.61M | 625.94M | 703.33M | 532.32M | 577.06M | 594.43M |
| Total Debt | 608.56M | 579.80M | 589.24M | 449.51M | 367.77M | 265.77M |
| Total Liabilities | 1.76B | 1.73B | 1.70B | 1.66B | 1.54B | 1.51B |
| Stockholders Equity | 1.60B | 1.45B | 1.66B | 1.30B | 1.21B | 983.25M |
Cash Flow | ||||||
| Free Cash Flow | 191.76M | 154.45M | 385.95M | 165.65M | 138.82M | 292.70M |
| Operating Cash Flow | 254.68M | 212.80M | 385.95M | 165.65M | 199.01M | 312.05M |
| Investing Cash Flow | -144.74M | -186.61M | -188.47M | -105.37M | -75.91M | -181.89M |
| Financing Cash Flow | -73.06M | -19.55M | -51.31M | -84.41M | -208.28M | -160.64M |
BTS Group AB Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BTS.B, the sentiment is Positive. The current price of 268.50 is above the 20-day moving average (MA) of 239.17, above the 50-day MA of 220.13, and above the 200-day MA of 174.09, indicating a bullish trend. The MACD of 13.78 indicates Negative momentum. The RSI at 75.78 is Negative, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BTS.B.
BTS Group AB Peers Comparison
Overall Rating
SE:PION.B71Outperform
SE:KAR69Neutral
SE:AFRY67Neutral
SE:BTS.B66Neutral
SE:COOR61Neutral
SE:REJL.B56Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| 71Outperform | SEK 383.48M | 13.57 | 20.06% | ― | 0.26% | ― | |
| 69Neutral | SEK 8.51B | 9.10 | 35.83% | ― | -4.41% | 752.36% | |
| 67Neutral | SEK 14.68B | 17.12 | 6.63% | 4.63% | -3.51% | -7.54% | |
| 66Neutral | SEK 5.21B | 42.48 | 8.10% | 1.64% | 0.19% | -24.12% | |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| 61Neutral | SEK 4.77B | 18.12 | 17.45% | 6.83% | -0.68% | 81.93% | |
| 56Neutral | SEK 3.24B | 18.98 | 7.84% | 3.70% | 5.96% | -23.10% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:BTS.B | BTS Group AB Class B | 268.50 | 134.38 | 100.20% | |
| SE:AFRY | AFRY AB Class B | 129.60 | -15.93 | -10.94% | |
| SE:PION.B | Poolia AB Class B | 7.96 | 2.28 | 40.14% | |
| SE:KAR | Karnov Group AB | 85.50 | -16.90 | -16.50% | |
| SE:REJL.B | Rejlers AB Class B | 141.80 | -42.18 | -22.92% | |
| SE:COOR | Coor Service Management Holding AB | 50.20 | 7.30 | 17.02% |
BTS Group AB Corporate Events
BTS Approves Employee Stock Option Program
BTS Group AB’s Extraordinary General Meeting approved the Employee Stock Option Program 2026/2031 and related hedging measures. The program covers up to 475,000 options in two series, vesting after three and five years, with continued employment requ...
BTS Reports Record Third Quarter as AI Services Expand
BTS Group is a consulting and professional-services company focused on strategy execution, leadership and talent development, and AI enablement and implementation. It reported its strongest third quarter, with currency-adjusted revenue up 13% to MSEK...
BTS Group Calls Extraordinary Meeting to Launch Long-Term Executive Stock Option Plan
BTS Group AB has called an Extraordinary General Meeting in Stockholm on November 6, 2026, to seek shareholder approval for a new long-term stock option program aimed at senior executives. The initiative targets the CEO, Deputy CEO and three manageme...
BTS Group Lifts 2026 Outlook as AI-Driven Services Boost Profitability
BTS Group AB reported solid operational momentum for the second quarter of 2026, with net sales rising to MSEK 767 and currency-adjusted organic growth of 9 percent, while EBITA grew 11 percent and the margin improved to 12.3 percent. Despite a headl...
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: Nov 10, 2026
