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Enea AB
(ENEA)
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Rating:63Neutral
Price Target:
kr68.00
▼(-9.93% Downside)
Action:Reiterated
Date:10/22/26
The score is driven primarily by improving profitability and a strong balance sheet, partially offset by weak/negative revenue momentum and less consistent recent free cash flow. Valuation is supportive due to a modest P/E, while technicals and the latest earnings call indicate neutral-to-mixed near-term momentum given deal delays and recent margin pressure despite unchanged guidance and balance-sheet/cash-flow improvements.
Positive Factors
Conservative balance sheet
Low leverage and a high equity ratio give Enea financial flexibility to fund product development, support customers, and manage periods of weaker demand. The improved capital structure also reduces balance-sheet strain while the company pursues its multi-year growth strategy.
Negative Factors
Weak revenue momentum
Persistent flat-to-down revenue limits Enea’s ability to convert recovered profitability into sustained earnings growth. Weak top-line momentum can increase sensitivity to contract timing, reduce operating leverage, and make delivery of the company’s multi-year growth ambitions more dependent on a rebound.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a high equity ratio give Enea financial flexibility to fund product development, support customers, and manage periods of weaker demand. The improved capital structure also reduces balance-sheet strain while the company pursues its multi-year growth strategy.
Read all positive factors
Enea AB (ENEA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.21B
Dividend Yield4.03%
Average Volume (3M)15.99K
Price to Earnings (P/E)11.3
Beta (1Y)0.50
Revenue Growth-1.56%
EPS Growth59.96%
CountrySE
Employees455
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)5.62
Shares Outstanding20,302,612
10 Day Avg. Volume11,406
30 Day Avg. Volume15,989
Financial Highlights & Ratios
PEG Ratio-0.44
Price to Book (P/B)0.83
Price to Sales (P/S)1.54
P/FCF Ratio14.28
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)7.77
Revenue Forecast (FY)kr919.90M
Enea AB Business Overview & Revenue Model
Company Description
Enea AB (publ) is a global provider of software solutions catering to industries such as telecommunications, cybersecurity, medical devices, and aerospace. Their product suite encompasses 5G data management offerings like Enea Stratum Network Data...
How the Company Makes Money
Enea makes money primarily by selling software products and solutions and related services to customers in telecom and network infrastructure markets. Revenue is generated through (1) software licensing (and/or subscriptions, if applicable to spec...
Enea AB Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 04, 2027
Earnings Call Sentiment Neutral
The call presented a mixed outlook. Q3 financial performance was weak, with a 4.8% net sales decline, lower adjusted EBITDA, reduced EBIT and EPS, and continued deal delays affecting the Middle East and classic portfolio. These negatives were partly offset by strong operational cash flow, improved net debt, new customer wins, growth in the growth portfolio, progress in AI and strategic execution, a solid pipeline, and unchanged long-term ambitions. Overall, the positive strategic and cash-flow developments were balanced against significant short-term financial and execution challenges.Positive Updates
Strong Operational Cash Flow
Operational cash flow was SEK 66 million in Q3, compared with SEK 20 million in Q3 last year. Management said this was the second consecutive quarter with very strong operational cash flow.
Negative Updates
Q3 Net Sales Decline
Reported net sales were SEK 202 million, down 4.8% year over year. On a currency-adjusted basis, net sales declined 6%.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Operational Cash Flow
Operational cash flow was SEK 66 million in Q3, compared with SEK 20 million in Q3 last year. Management said this was the second consecutive quarter with very strong operational cash flow.
Read all positive updates
Company Guidance
Enea left its short-term guidance unchanged: for 2026, it has always guided for single-digit growth with an adjusted EBITDA of 30% and above; 2026 is an investment year, with acceleration from 2027 and 2028 onwards. The company sees a stable to moderately positive market for its products, solutions and offerings, has a solid and growing pipeline, and is focused on delivering a stronger and better quarter 4. Its long-term financial ambition and profitability ambitions remain unchanged, and it stands firm on its belief in the 3-year strategy period of '27 and '28, including annual average plus 10% sales growth.Enea AB Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
74
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 888.80M | 889.00M | 920.19M | 912.68M | 951.24M | 975.62M |
| Gross Profit | 460.60M | 528.20M | 724.44M | 697.68M | 737.56M | 624.96M |
| EBITDA | 254.90M | 214.60M | 390.24M | 240.00M | 294.08M | 372.83M |
| Net Income | 107.90M | 49.40M | 143.06M | -550.72M | 108.95M | 200.26M |
Balance Sheet | ||||||
| Total Assets | 2.48B | 2.29B | 2.54B | 2.58B | 3.32B | 3.03B |
| Cash, Cash Equivalents and Short-Term Investments | 93.00M | 97.60M | 161.52M | 261.79M | 231.30M | 211.37M |
| Total Debt | 327.40M | 333.39M | 303.47M | 509.44M | 587.80M | 776.46M |
| Total Liabilities | 768.70M | 648.30M | 693.68M | 900.98M | 1.03B | 1.26B |
| Stockholders Equity | 1.71B | 1.64B | 1.85B | 1.68B | 2.29B | 1.78B |
Cash Flow | ||||||
| Free Cash Flow | 52.90M | 95.97M | 272.31M | 251.60M | 28.63M | 193.18M |
| Operating Cash Flow | 167.90M | 106.60M | 279.20M | 258.89M | 166.84M | 333.74M |
| Investing Cash Flow | -110.70M | -98.90M | -92.68M | -95.22M | 34.81M | -517.78M |
| Financing Cash Flow | -48.60M | -49.00M | -300.72M | -126.01M | -205.83M | 191.54M |
Enea AB Technical Analysis
Negative
75.50
Price Trends
63.43
Negative
66.06
Negative
67.27
Negative
Market Momentum
-1.03
Positive
23.28
Positive
22.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ENEA, the sentiment is Negative. The current price of 75.5 is above the 20-day moving average (MA) of 63.54, above the 50-day MA of 63.43, and above the 200-day MA of 67.27, indicating a bearish trend. The MACD of -1.03 indicates Positive momentum. The RSI at 23.28 is Positive, neither overbought nor oversold. The STOCH value of 22.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ENEA.
Enea AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr629.09M | 18.32 | ― | ― | 2.76% | 92.66% | |
63 Neutral | kr1.21B | 11.30 | ― | 4.03% | -1.56% | 59.96% | |
58 Neutral | kr342.00M | 198.50 | ― | 1.05% | 16.73% | 202.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | kr1.47B | 48.36 | 45.59% | ― | 29.02% | ― | |
48 Neutral | kr647.01M | -28.31 | ― | ― | 14.10% | -29.31% | |
42 Neutral | kr121.64M | -0.24 | ― | 22.83% | -31.74% | 51.98% |
* General Sector Average
SE:ENEA
Enea AB
50.00
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Enea AB Corporate Events
Enea Plans SEK 20 Million Share Buyback in Q4 2026
Oct 22, 2026
Enea AB’s board plans to initiate a share repurchase program in the fourth quarter of 2026, with a buyback volume of up to SEK 20 million under an existing authorization from its May 2026 annual general meeting. A formal resolution to launch...
Enea AB Faces Profit Pressure but Leans on Strong Cash Flow and AI Strategy
Oct 22, 2026
Enea AB reported third-quarter 2026 net sales of SEK 202.3 million, down 4.8 percent year-on-year, with adjusted EBITDA falling to SEK 47.3 million and margin compressing to 23.4 percent. Profit after tax dropped to SEK 6.5 million and earnings pe...
Enea Schedules Global Webcast for Q3 2026 Results
Oct 1, 2026
Enea AB will present its third-quarter 2026 results to investors, analysts, and media on October 22, 2026, via an English-language webcast and teleconference led by President and CEO Teemu Salmi and CFO Ulf Stigberg. The Q3 interim report will be ...
Enea and DrayTek Forge Partnership to Power Next-Generation Cybersecurity Platforms
Sep 16, 2026
Enea has entered a strategic collaboration with Taiwan-based networking and cybersecurity vendor DrayTek to embed its application intelligence and threat detection software into DrayTek’s next-generation high-performance cybersecurity platfo...
Enea Partners with FoxIO to Boost Encrypted Network Threat Detection
Jul 30, 2026
Enea has entered into a partnership with FoxIO to integrate FoxIO’s JA4+ encrypted traffic fingerprinting technology into Enea’s Qosmos ixEngine, enhancing real-time network threat intelligence without requiring decryption of data. The...
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.