Eltel AB (ELTEL) AI Stock Analysis

Eltel AB

(Nasdaq OMX AB:ELTEL)

Select Model

Rating:56Neutral

Price Target:SEK 17.00▲(6.25% Upside)

Action:reiterated

Date:10/30/26

The overall score is supported by a recovery to profitability, positive cash generation, and moderately favorable medium-term technical positioning. These strengths are offset by low margins, elevated leverage, weak reported revenue growth, subdued cash-flow coverage, and a relatively high P/E ratio.

Positive Factors

Return to profitabilityEltel has restored positive operating and net profitability after prior loss years, indicating that its field-services model can generate earnings under improved execution. Maintaining even modest profitability would strengthen internal funding capacity and support more resilient operations over the next several quarters.

Negative Factors

Weak and volatile revenueWeak and volatile revenue reduces visibility into the scale of future operations and can leave field capacity underutilized when project timing or demand softens. Continued top-line pressure could reverse the recent earnings recovery if costs do not adjust quickly enough to lower activity.

Eltel AB (ELTEL) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 2.62B
Dividend Yield: ―
Average Volume (3M): 130.67K
Price to Earnings (P/E): 26.4
Beta (1Y): 0.42
Revenue Growth: 0.40%
EPS Growth: ―
Country: Sweden
Employees: 3,689
Sector: Communication Services
Sector Strength: 60
Industry: Engineering & Construction

Eltel AB Business Overview & Revenue Model

Company Description

Eltel AB (publ) is a specialized provider of technical services for vital power and communication infrastructure across numerous countries, including Sweden, Finland, Norway, Poland, Denmark, Germany, and Lithuania, with an additional international p...

How the Company Makes Money

Eltel makes money by providing contracted services and project deliveries to customers that own or operate power and telecom networks. Its revenue model is service-based and typically consists of: (1) project work (e.g., construction and upgrade proj...

Eltel AB Financial Statement Overview

Summary

Financial quality is moderate: the company returned to profitability and generated positive operating and free cash flow, but margins remain low, leverage is meaningful, debt coverage is limited, and reported revenue growth is highly unfavorable.

Income Statement

55Neutral

Balance Sheet

52Neutral

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	827.95M	817.80M	828.70M	850.10M	823.60M	812.60M
Gross Profit	108.25M	105.10M	91.90M	75.60M	74.70M	88.10M
EBITDA	55.32M	47.30M	13.70M	24.80M	25.90M	45.40M
Net Income	9.43M	2.20M	-29.70M	-7.90M	-14.90M	4.30M
Balance Sheet
Total Assets	623.90M	653.22M	585.40M	624.30M	621.70M	630.80M
Cash, Cash Equivalents and Short-Term Investments	17.20M	43.65M	21.30M	24.70M	47.90M	32.30M
Total Debt	196.00M	185.80M	135.00M	124.90M	172.90M	154.10M
Total Liabilities	446.20M	484.91M	396.10M	400.60M	410.20M	402.90M
Stockholders Equity	169.70M	159.94M	181.30M	216.10M	204.10M	220.20M
Cash Flow
Free Cash Flow	19.21M	24.04M	25.10M	29.60M	12.30M	17.90M
Operating Cash Flow	27.02M	29.24M	27.50M	34.00M	16.40M	22.30M
Investing Cash Flow	-8.20M	-5.09M	-6.60M	-4.30M	-3.90M	-2.90M
Financing Cash Flow	-15.19M	-1.22M	-24.00M	-52.30M	3.10M	-13.70M

Eltel AB Technical Analysis

Technical Analysis SentimentPositive

Last Price16.00

Price Trends

50DMA16.15Positive

100DMA14.56Positive

200DMA12.15Positive

Market Momentum

MACD-0.01Positive

RSI50.16Neutral

STOCH52.40Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ELTEL, the sentiment is Positive. The current price of 16.00 is below the 20-day moving average (MA) of 17.05, below the 50-day MA of 16.15, and above the 200-day MA of 12.15, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 50.16 is Neutral, neither overbought nor oversold. The STOCH value of 52.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ELTEL.

Eltel AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

SE:ELTEL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:BRAV	83Outperform	SEK 31.73B	21.03	―	2.45%	4.26%	30.00%
SE:SWEC.B	79Outperform	SEK 50.84B	21.43	18.37%	2.62%	6.16%	9.75%
SE:AFRY	67Neutral	SEK 14.69B	17.13	6.63%	4.63%	-3.51%	-7.54%
SE:INSTAL	67Neutral	SEK 10.81B	21.18	15.56%	1.24%	8.64%	96.94%
SE:PEAB.B	65Neutral	SEK 26.84B	11.73	13.52%	3.57%	3.75%	38.40%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SE:ELTEL	56Neutral	SEK 2.62B	26.44	5.85%	―	0.40%	―

* Communication Services Sector Average

Performance Comparison

SE:ELTEL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ELTEL	Eltel AB	16.70	7.92	90.21%
SE:PEAB.B	Peab AB	92.55	19.06	25.94%
SE:SWEC.B	Sweco AB	141.00	-25.64	-15.39%
SE:AFRY	AFRY AB Class B	129.70	-27.04	-17.25%
SE:INSTAL	Instalco AB	40.24	16.15	67.05%
SE:BRAV	Bravida Holding AB	155.00	78.44	102.45%

Eltel AB Corporate Events

Eltel boosts profitability to 11‑year high and secures record orderbook with major Nordic contracts

Oct 29, 2026

Eltel reported its highest quarterly profitability since 2015 in the third quarter of 2026, with adjusted EBITA rising to EUR 11.0 million and margins improving despite a 5.8% decline in net sales driven by lower fibre rollout and major project volum...

Eltel Names Key Shareholder Representatives to 2027 AGM Nomination Committee

Oct 27, 2026

Eltel AB has appointed its Nomination Committee for the 2027 Annual General Meeting, naming representatives from its four largest shareholders, which together control about 49.3% of the company’s voting rights. The committee, chaired by Gustaf...

Eltel schedules Q3 2026 report presentation and investor webcast

Oct 15, 2026

Eltel AB will publish its financial report for the July–September 2026 period on 29 October 2026 and will host a combined webcast and teleconference for investors, analysts and media the same morning. President and CEO Håkan Dahlström...

Eltel seals EUR 275m Vattenfall grid service deal in Sweden

Oct 13, 2026

Eltel AB has signed a long-term contract with Vattenfall Eldistribution for servicing and maintaining electricity and communications networks in Roslagen and Uppland, following the completion of an appeals process. The four-year agreement, with four...

Eltel to Showcase Post-Transformation Growth Strategy at Capital Markets Day

Sep 28, 2026

Eltel will host a Capital Markets Day in Stockholm and online on 17 November 2026 to present how its multi-year transformation has strengthened profitability and opened growth avenues in new business areas. The event targets investors, analysts and f...

Eltel Wins EUR 73 Million KONSTANT Grid Contract, Boosts Danish Power Business

Sep 11, 2026

Eltel Denmark has secured a frame agreement with Danish electricity distributor KONSTANT to expand, operate and maintain the power distribution network in parts of Jutland, a deal valued at about EUR 73 million over an initial five-year term with opt...

Eltel Norway Wins Billion‑Euro Long‑Term Infrastructure Deal with Telenor

Sep 8, 2026

Eltel Norway, a wholly owned subsidiary of Eltel AB, has secured a new long‑term partnership agreement with Telenor Norway covering 2026 to 2031, with estimated revenue exceeding EUR 475 million during the initial term. The deal includes two ex...

Eltel strengthens Jutland footprint with acquisition of EWII’s street lighting business

Aug 26, 2026

Eltel Denmark is expanding its street lighting operations by acquiring EWII’s street lighting business in Jutland, adding nine employees and integrating them into its Vejle office. The move reinforces Eltel’s role as a key provider of ins...

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 30, 2026

Eltel AB AI Stock Analysis