CTT Systems AB (CTT) AI Stock Analysis

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CTT Systems AB

(Nasdaq OMX AB:CTT)

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Rating:68Neutral

Price Target:SEK 157.00▲(10.56% Upside)

Action:downgraded

Date:10/29/26

The score is driven primarily by solid financial stability (low leverage) and strong recent top-line momentum, supported by a technically strong uptrend. These positives are tempered by notably weaker cash conversion and margin/return compression versus prior years, plus a demanding valuation (high P/E) that increases execution risk.

Positive Factors

Strong TTM revenue growthThe sharp TTM revenue increase indicates strong recent demand for CTT’s aerospace moisture-management offerings, while the high gross margin shows meaningful value capture. If sustained, this combination can support reinvestment and strengthen earnings capacity over the next several quarters.

Negative Factors

Material margin compressionThe substantial decline in net and EBIT margins shows that recent growth is converting into profit less efficiently than in earlier years. A weaker mix or higher costs could limit earnings growth and reduce the funds available for investment, dividends, or other capital priorities.

CTT Systems AB (CTT) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 1.76B
Dividend Yield: 1.69%
Average Volume (3M): 13.36K
Price to Earnings (P/E): 45.1
Beta (1Y): 0.70
Revenue Growth: -5.04%
EPS Growth: -30.82%
Country: Sweden
Employees: 86
Sector: General
Sector Strength: 55
Industry: Aerospace & Defense

CTT Systems AB Business Overview & Revenue Model

Company Description

CTT Systems AB (publ) provides humidity control systems for aircraft in Sweden, Denmark, France, the United States, and internationally. The company offers humidifiers for passenger cabins, flight decks, crew rest compartments, and VIP/business jets...

How the Company Makes Money

CTT makes money primarily by selling aircraft humidity-control and moisture-management systems and by generating recurring aftermarket revenue once those systems are in service. Key revenue streams typically include: (1) Original equipment (OE) sales...

CTT Systems AB Financial Statement Overview

Summary

Strong TTM revenue growth (+95.4%) and a conservatively financed balance sheet (debt-to-equity ~0.18) support the score. Offsetting this, profitability has compressed materially versus 2022–2024 (net margin down to ~14% and EBIT margin to ~18–19%), and cash conversion has weakened (operating cash flow only ~32% of net income; FCF growth -54.6%).

Income Statement

74Positive

Balance Sheet

83Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	275.20M	264.40M	300.10M	308.90M	240.60M	151.30M
Gross Profit	185.90M	55.20M	241.70M	247.70M	197.40M	118.50M
EBITDA	58.00M	55.40M	119.90M	127.60M	100.80M	38.10M
Net Income	39.50M	38.60M	85.50M	95.50M	66.30M	14.20M
Balance Sheet
Total Assets	371.40M	355.80M	393.20M	417.30M	377.10M	328.60M
Cash, Cash Equivalents and Short-Term Investments	26.90M	26.60M	68.70M	117.90M	60.10M	49.30M
Total Debt	47.40M	35.50M	44.10M	41.80M	45.50M	72.20M
Total Liabilities	105.70M	93.80M	102.70M	103.30M	107.80M	115.60M
Stockholders Equity	265.70M	262.00M	290.50M	314.00M	269.30M	213.00M
Cash Flow
Free Cash Flow	15.70M	34.00M	61.20M	109.10M	53.80M	21.70M
Operating Cash Flow	29.80M	35.90M	66.30M	116.80M	61.20M	30.30M
Investing Cash Flow	-15.90M	-5.30M	-4.50M	-7.50M	-7.30M	-8.60M
Financing Cash Flow	-22.30M	-68.50M	-110.60M	-52.20M	-43.60M	6.60M

CTT Systems AB Technical Analysis

Technical Analysis SentimentPositive

Last Price142.00

Price Trends

50DMA134.75Positive

100DMA132.27Positive

200DMA131.93Positive

Market Momentum

MACD2.52Negative

RSI57.38Neutral

STOCH39.29Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CTT, the sentiment is Positive. The current price of 142.00 is above the 20-day moving average (MA) of 137.10, above the 50-day MA of 134.75, and above the 200-day MA of 131.93, indicating a bullish trend. The MACD of 2.52 indicates Negative momentum. The RSI at 57.38 is Neutral, neither overbought nor oversold. The STOCH value of 39.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:CTT.

CTT Systems AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:CTT against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SAAB.B	76Outperform	SEK 351.28B	45.85	15.83%	0.37%	28.45%	44.48%
SE:MILDEF	74Outperform	SEK 12.18B	34.34	20.11%	0.31%	75.60%	―
SE:CTT	68Neutral	SEK 1.77B	45.08	―	1.69%	-5.04%	-30.82%
SE:AAC	56Neutral	SEK 851.66M	-19.28	-5.29%	―	-12.86%	-1793.94%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:GOMX	48Neutral	SEK 2.28B	87.56	18.20%	―	―	―
SE:UNIBAP	48Neutral	SEK 699.79M	-46.54	―	―	17.21%	42.88%

* General Sector Average

Performance Comparison

SE:CTT and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:CTT	CTT Systems AB	142.00	-40.88	-22.35%
SE:SAAB.B	Saab AB	641.40	110.01	20.70%
SE:AAC	Aac Clyde Space Ab	107.00	30.50	39.87%
SE:MILDEF	MilDef Group AB	243.10	105.36	76.49%
SE:GOMX	GomSpace Group AB	13.59	-1.97	-12.66%
SE:UNIBAP	Unibap AB	9.69	2.39	32.74%

CTT Systems AB Corporate Events

CTT Systems Lifts Full-Year Outlook as Aftermarket Drives Profit Growth

Oct 27, 2026

CTT Systems reported modest third-quarter net sales growth of 3% to SEK 76.4 million, but delivered a 24% year-on-year increase in operating profit and a 30% EBIT margin, even as operating cash flow softened. Strong aftermarket and VIP spare parts de...

CTT Systems schedules Q3 2026 interim report and investor webcast

Oct 8, 2026

CTT Systems AB has announced that it will publish its interim report for the third quarter of 2026 on October 27 at 08:00 CET, followed by a webcast presentation at 09:30 CET led by CEO Henrik Höjer and CFO Markus Berg. Investors and other stakeholde...

CTT Systems Sets 2027 AGM Nomination Committee With Key Institutional Investors

Sep 24, 2026

CTT Systems AB has appointed a nomination committee representing key institutional shareholders ahead of its 2027 Annual General Meeting. The committee members come from SEB Fonder, Handelsbanken Fonder, Odin Fonder and Trulscom Förvaltning AB, under...

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 29, 2026

CTT Systems AB AI Stock Analysis