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Eltel AB
(ELTEL)
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Rating:49Neutral
Price Target:
kr19.50
▲(111.50% Upside)
Action:Reiterated
Date:09/09/26
The score is held back mainly by weaker fundamentals: sharp TTM revenue decline, thin profitability, higher leverage, and deteriorating cash flow. Technicals are a positive offset with a strong uptrend and moderate momentum, but the high P/E and lack of dividend support reduce the valuation contribution.
Positive Factors
Return to profitability
The return to positive EBIT and net income marks a meaningful improvement from prior loss-making years. Although profitability is still modest, an established earnings base can support operational recovery and provide greater capacity to fund the business over the next several quarters.
Negative Factors
Revenue contraction and thin margins
Sharp TTM sales contraction is pressuring operating leverage, while very thin margins leave little protection against execution problems or cost increases. Together, these conditions make earnings less resilient and could limit the company’s ability to turn infrastructure demand into durable profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Return to profitability
The return to positive EBIT and net income marks a meaningful improvement from prior loss-making years. Although profitability is still modest, an established earnings base can support operational recovery and provide greater capacity to fund the business over the next several quarters.
Read all positive factors
Eltel AB (ELTEL) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr3.06B
Dividend Yield0.25%
Average Volume (3M)123.34K
Price to Earnings (P/E)72.5
Beta (1Y)0.43
Revenue Growth0.40%
EPS GrowthN/A
CountrySE
Employees3,689
SectorCommunication Services
Sector Strength97
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.02
Shares Outstanding156,736,790
10 Day Avg. Volume152,744
30 Day Avg. Volume123,343
Financial Highlights & Ratios
PEG Ratio-2.60
Price to Book (P/B)0.83
Price to Sales (P/S)0.16
P/FCF Ratio5.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)kr853.50M
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 internationa...
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 p...
Eltel AB Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 842.31M | 817.80M | 828.70M | 850.10M | 823.60M | 812.60M |
| Gross Profit | 108.67M | 105.10M | 91.90M | 75.60M | 74.70M | 88.10M |
| EBITDA | 54.21M | 47.30M | 13.70M | 24.80M | 25.90M | 45.40M |
| Net Income | 3.66M | 2.20M | -29.70M | -7.90M | -14.90M | 4.30M |
Balance Sheet | ||||||
| Total Assets | 632.00M | 653.22M | 585.40M | 624.30M | 621.70M | 630.80M |
| Cash, Cash Equivalents and Short-Term Investments | 33.80M | 43.65M | 21.30M | 24.70M | 47.90M | 32.30M |
| Total Debt | 203.70M | 185.80M | 135.00M | 124.90M | 172.90M | 154.10M |
| Total Liabilities | 468.80M | 484.91M | 396.10M | 400.60M | 410.20M | 402.90M |
| Stockholders Equity | 155.50M | 159.94M | 181.30M | 216.10M | 204.10M | 220.20M |
Cash Flow | ||||||
| Free Cash Flow | 909.78K | 24.04M | 25.10M | 29.60M | 12.30M | 17.90M |
| Operating Cash Flow | 7.52M | 29.24M | 27.50M | 34.00M | 16.40M | 22.30M |
| Investing Cash Flow | -6.50M | -5.09M | -6.60M | -4.30M | -3.90M | -2.90M |
| Financing Cash Flow | -86.79M | -1.22M | -24.00M | -52.30M | 3.10M | -13.70M |
Eltel AB Technical Analysis
Positive
9.22
Price Trends
14.62
Positive
13.58
Positive
11.37
Positive
Market Momentum
1.33
Negative
76.55
Negative
85.50
Negative
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 9.22 is below the 20-day moving average (MA) of 16.40, below the 50-day MA of 14.62, and below the 200-day MA of 11.37, indicating a bullish trend. The MACD of 1.33 indicates Negative momentum. The RSI at 76.55 is Negative, neither overbought nor oversold. The STOCH value of 85.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ELTEL.
Eltel AB Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr27.58B | 12.99 | 12.81% | 3.21% | 2.19% | 36.51% | |
70 Outperform | kr45.85B | 20.11 | 18.15% | 2.91% | 5.87% | 7.65% | |
69 Neutral | kr30.73B | 21.85 | ― | 2.53% | 1.66% | 26.04% | |
62 Neutral | kr11.44B | 29.56 | 12.77% | 1.17% | 4.03% | 38.99% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | kr11.53B | 14.67 | 6.19% | 5.86% | -5.02% | -15.85% | |
49 Neutral | kr3.06B | 72.54 | 2.32% | 0.25% | 0.40% | ― |
* Communication Services Sector Average
SE:ELTEL
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Eltel AB Corporate Events
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 an...
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 ...
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...
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 ...
Eltel extends profitability streak on strong Nordic contracts
Jul 21, 2026
Eltel reported second-quarter net sales of EUR 199.6 million, slightly down year-on-year, but continued its twelve-quarter streak of profitability improvement, with adjusted EBITA doubling and margins rising. Despite a small organic decline, stron...
Eltel Deepens Danish Fiber Rollout via Expanded GlobalConnect Deal
Jul 13, 2026
Eltel has expanded its cooperation with telecom and infrastructure player GlobalConnect through a new three-year agreement to deliver complete fiber installations across Denmark, valued at approximately EUR 13 million. The deal covers fiber build-...
Eltel to Present Half-Year 2026 Results in Investor Webcast
Jul 7, 2026
Eltel AB, a major Nordic provider of services and turnkey solutions for communication and power networks and renewable energy, operates across the Nordics, Germany and Lithuania with its head office in Sweden. The company, which employs about 3,80...
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.