Job Solution Sweden Holding AB (CALVIK) AI Stock Analysis

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Job Solution Sweden Holding AB

(Nasdaq OMX AB:CALVIK)

Select Model

Rating:59Neutral

Price Target:SEK 80.00▲(4.17% Upside)

Action:reiterated

Date:11/14/26

The score reflects a company with impressive scale and growth but a fragile financial foundation. Revenue has expanded dramatically to SEK 2.17 billion and borrowings have been materially reduced, yet gross and net margins have thinned to roughly 4% and 1%, equity funds under 7% of assets, and free cash flow fell about 65% — leaving very little margin for error. Technical indicators are the strongest element, with the price above all major moving averages and a positive MACD, though the move is extended after a strong run. Valuation at 19.3x earnings with no dividend provides limited downside protection for a low-margin business model, keeping the overall assessment near the middle of the range.

Positive Factors

Revenue GrowthStrong TTM revenue growth indicates that the company is expanding its revenue base at a meaningful pace. If sustained, this growth can improve operating scale, support reinvestment, and strengthen the company’s ability to build earnings over the next several quarters.

Negative Factors

Thin Profit MarginsVery thin gross, EBIT, and net margins leave limited room for execution errors, cost increases, or weaker demand before profitability is affected. The low margin structure also means that strong revenue growth may not translate proportionally into durable earnings or cash generation.

Job Solution Sweden Holding AB (CALVIK) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 418.52M
Dividend Yield: ―
Average Volume (3M): 4,880
Price to Earnings (P/E): 19.3
Beta (1Y): 0.51
Revenue Growth: 114.67%
EPS Growth: 115.69%
Country: Sweden
Employees: 1,493
Sector: General
Sector Strength: 55
Industry: Staffing & Employment Services

Job Solution Sweden Holding AB Business Overview & Revenue Model

Company Description

Calviks AB (publ), a company established in 2015 and headquartered in Sundbyberg, Sweden, offers specialized recruitment and temporary staffing services across Sweden and the broader Nordic region. They primarily focus on filling pivotal leadership a...

Job Solution Sweden Holding AB Financial Statement Overview

Summary

Revenue growth has been exceptional, reaching SEK 2.17 billion on a trailing-twelve-month basis with roughly 20% year-over-year expansion, and the company remains profitable with net income of SEK 21.7 million. Debt has been cut sharply from SEK 199 million to SEK 47 million, lowering debt-to-equity to 0.43x, and free cash flow conversion of about 87% of earnings is reasonable. However, the quality of growth is weak: gross margin has collapsed from 52.8% to 4.2% and net margin to roughly 1%, leaving almost no cushion against wage inflation or client softness. Shareholders' equity of SEK 108.9 million funds under 7% of a SEK 1.6 billion asset base, a fragile capital structure, and free cash flow fell about 65% as receivables absorb cash. The blend of strong scale and momentum against razor-thin profitability supports a modestly below-average score.

Income Statement

56Neutral

Balance Sheet

47Neutral

Cash Flow

52Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.17B	1.34B	406.91M	73.78M	42.25M	25.75M
Gross Profit	91.31M	38.92M	43.68M	13.93M	18.31M	13.61M
EBITDA	114.81M	60.20M	25.73M	6.54M	11.10M	8.76M
Net Income	21.68M	5.45M	12.56M	1.51M	7.10M	6.07M
Balance Sheet
Total Assets	1.60B	710.68M	232.82M	98.27M	48.43M	16.97M
Cash, Cash Equivalents and Short-Term Investments	172.30M	105.19M	30.05M	27.87M	17.64M	10.66M
Total Debt	46.63M	199.15M	40.39M	32.13M	4.35M	4.80M
Total Liabilities	1.48B	620.21M	161.78M	61.79M	20.90M	4.52M
Stockholders Equity	108.91M	88.88M	70.87M	36.48M	27.53M	11.74M
Cash Flow
Free Cash Flow	20.07M	46.16M	17.98M	4.28M	6.34M	7.58M
Operating Cash Flow	23.14M	47.58M	17.98M	4.28M	6.57M	7.63M
Investing Cash Flow	39.61M	-82.79M	8.75M	-8.51M	-10.94M	-114.00K
Financing Cash Flow	50.47M	109.77M	-24.53M	14.66M	11.35M	-1.00M

Job Solution Sweden Holding AB Technical Analysis

Technical Analysis SentimentPositive

Last Price76.80

Price Trends

50DMA66.10Positive

100DMA69.84Positive

200DMA59.79Positive

Market Momentum

MACD1.20Negative

RSI67.74Neutral

STOCH83.40Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CALVIK, the sentiment is Positive. The current price of 76.80 is above the 20-day moving average (MA) of 66.85, above the 50-day MA of 66.10, and above the 200-day MA of 59.79, indicating a bullish trend. The MACD of 1.20 indicates Negative momentum. The RSI at 67.74 is Neutral, neither overbought nor oversold. The STOCH value of 83.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:CALVIK.

Job Solution Sweden Holding AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:CALVIK against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:DEDI	72Outperform	SEK 619.52M	12.30	―	2.82%	9.56%	20.95%
SE:CARE	71Outperform	SEK 746.81M	15.05	―	―	12.86%	18.01%
SE:PION.B	71Outperform	SEK 383.48M	13.57	20.06%	―	0.26%	―
SE:CALVIK	59Neutral	SEK 418.52M	19.30	―	―	114.67%	115.69%
SE:EWRK	57Neutral	SEK 914.50M	17.29	―	7.56%	-12.06%	-50.75%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:WISE	41Neutral	SEK 98.00M	-5.29	-28.66%	―	-16.24%	27.51%

* General Sector Average

Performance Comparison

SE:CALVIK and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:CALVIK	Job Solution Sweden Holding AB	76.80	24.80	47.69%
SE:WISE	Wise Group AB	11.05	-2.45	-18.15%
SE:PION.B	Poolia AB Class B	7.96	2.28	40.14%
SE:DEDI	Dedicare AB	62.00	19.59	46.20%
SE:CARE	Careium AB	30.70	5.70	22.80%
SE:EWRK	Ework Group AB	52.90	-31.88	-37.60%

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: Nov 14, 2026

Job Solution Sweden Holding AB AI Stock Analysis