Firefly AB (FIRE) AI Stock Analysis

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Firefly AB

(Nasdaq OMX AB:FIRE)

Select Model

Rating:81.2Outperform

Price Target:SEK 185.00▲(16.72% Upside)

Action:reiterated

Date:08/24/26

The overall score is driven primarily by strong financial performance, with steady growth, solid margins, and a conservative balance sheet offset by volatile cash generation and recent equity and free cash flow declines. Technicals add further support, as the stock is in a clear uptrend with positive momentum and relatively low volatility. Valuation is moderately attractive, combining a reasonable earnings multiple with a high dividend yield, which supports the score but does not alone justify a higher rating.

Positive Factors

Very low leverageExtremely low leverage materially reduces financial risk and interest burden, giving Firefly greater flexibility to fund operations, withstand industrial-cycle fluctuations, and pursue customer projects or product development without relying heavily on external financing.

Negative Factors

Revenue growth has slowedThe marked deceleration in revenue growth indicates that recent expansion has lost momentum compared with prior years. If sustained, slower top-line growth could limit operating leverage, moderate earnings progression, and make future performance more dependent on margin or productivity gains.

Firefly AB (FIRE) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 951.22M
Dividend Yield: 6.25%
Average Volume (3M): 3,424
Price to Earnings (P/E): 17.4
Beta (1Y): 0.25
Revenue Growth: 5.87%
EPS Growth: 13.60%
Country: Sweden
Employees: 170
Sector: General
Sector Strength: 55
Industry: Security & Protection Services

Firefly AB Business Overview & Revenue Model

Company Description

Firefly AB (publ), a company established in Stockholm, Sweden, in 1969, specializes globally in the development and sale of industrial fire prevention and protection systems for process industries. The firm operates through two primary business segme...

How the Company Makes Money

Firefly AB makes money by selling and servicing industrial fire prevention and protection solutions to industrial customers. Key revenue streams typically include: (1) Equipment and system sales: revenue from engineered solutions and hardware install...

Firefly AB Financial Statement Overview

Summary

Firefly AB combines steady revenue growth and solid profitability with a very conservative, low-debt balance sheet and high returns on shareholder capital. The main offsetting factors are volatile cash flows, periods where operating cash flow lags net income, and a recent decline in free cash flow and equity, which slightly temper the otherwise strong profile.

Income Statement

86Very Positive

Balance Sheet

82Very Positive

Cash Flow

71Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	520.56M	503.25M	497.06M	477.93M	384.43M	300.23M
Gross Profit	210.32M	204.97M	204.75M	178.67M	134.06M	111.87M
EBITDA	70.47M	66.30M	78.04M	62.85M	46.46M	26.64M
Net Income	54.52M	47.56M	54.83M	45.24M	34.84M	18.82M
Balance Sheet
Total Assets	268.57M	307.75M	303.00M	288.45M	219.37M	192.80M
Cash, Cash Equivalents and Short-Term Investments	35.06M	80.08M	67.87M	52.96M	32.95M	52.66M
Total Debt	690.00K	1.53M	2.06M	1.94M	2.16M	0
Total Liabilities	121.83M	118.78M	127.67M	140.69M	143.58M	122.43M
Stockholders Equity	146.74M	188.97M	175.33M	147.77M	75.79M	70.37M
Cash Flow
Free Cash Flow	42.91M	45.84M	38.77M	36.25M	-5.56M	23.87M
Operating Cash Flow	45.46M	50.44M	42.54M	41.21M	-1.44M	32.55M
Investing Cash Flow	-2.45M	-4.60M	1.53M	-5.01M	-4.33M	-8.89M
Financing Cash Flow	-60.11M	-33.18M	-29.27M	-18.55M	-15.00M	-12.60M

Firefly AB Technical Analysis

Technical Analysis SentimentNegative

Last Price158.50

Price Trends

50DMA168.05Negative

100DMA168.36Negative

200DMA172.48Negative

Market Momentum

MACD-1.27Positive

RSI38.68Neutral

STOCH33.25Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FIRE, the sentiment is Negative. The current price of 158.50 is below the 20-day moving average (MA) of 165.92, below the 50-day MA of 168.05, and below the 200-day MA of 172.48, indicating a bearish trend. The MACD of -1.27 indicates Positive momentum. The RSI at 38.68 is Neutral, neither overbought nor oversold. The STOCH value of 33.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:FIRE.

Firefly AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:FIRE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:FIRE	81Outperform	SEK 960.22M	17.44	―	6.25%	5.87%	13.60%
SE:LOOMIS	70Outperform	SEK 34.02B	17.48	15.89%	2.85%	0.55%	14.96%
SE:SGG	63Neutral	SEK 473.90M	11.82	6.72%	―	4.44%	―
SE:SECU.B	61Neutral	SEK 93.39B	13.33	17.04%	2.98%	-4.70%	40.25%
SE:VSURE	61Neutral	EUR 10.84B	652.73	―	0.94%	9.90%	-38.94%
SE:TSEC	57Neutral	SEK 106.93M	39.39	―	―	16.19%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

SE:FIRE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:FIRE	Firefly AB	158.50	-30.36	-16.07%
SE:LOOMIS	Loomis AB	528.00	181.23	52.26%
SE:SECU.B	Securitas AB	164.50	28.18	20.67%
SE:SGG	Sensys Gatso Group AB	41.25	4.25	11.49%
SE:TSEC	Tempest Security AB	10.10	0.56	5.87%
SE:VSURE	Verisure Plc	10.77	-5.25	-32.76%

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: Aug 22, 2026

Firefly AB AI Stock Analysis