Nordic LEVEL Group AB Class B (LEVEL) AI Stock Analysis

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Nordic LEVEL Group AB Class B

(Nasdaq OMX AB:LEVEL)

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Rating:51Neutral

Price Target:SEK 0.34▲(14.92% Upside)

Action:reiterated

Date:11/05/26

The score is primarily constrained by recurring losses, declining margins, and negative operating and free cash flow. A stronger balance sheet and favorable short-term technical positioning provide support, but the negative P/E and overbought momentum signals limit the overall score.

Positive Factors

Long-term revenue expansionSustained revenue expansion indicates the company has continued to win business across its security and safety activities. A larger revenue base can support operating scale, deepen customer relationships, and provide a platform for restoring profitability if cost control improves.

Negative Factors

Persistent unprofitabilityPersistent losses and the sharp TTM margin deterioration show that revenue growth has not translated into dependable earnings. Continued negative profitability can weaken equity, constrain reinvestment, and make the business more dependent on operational improvement or external liquidity.

Nordic LEVEL Group AB Class B (LEVEL) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 108.30M
Dividend Yield: ―
Average Volume (3M): 265.39K
Price to Earnings (P/E): -3.2
Beta (1Y): 0.58
Revenue Growth: -3.53%
EPS Growth: -682.61%
Country: Sweden
Employees: 135
Sector: Industrials
Sector Strength: 63
Industry: Security & Protection Services

Nordic LEVEL Group AB Class B Business Overview & Revenue Model

Company Description

Nordic LEVEL Group AB (publ.), based in Sundbyberg, Sweden, functions as a systems integrator, specializing in the design and implementation of comprehensive security solutions, primarily across Sweden. The company delivers a broad array of integrate...

Nordic LEVEL Group AB Class B Financial Statement Overview

Summary

The balance sheet is relatively sound, with increased equity, lower debt, and moderate leverage. However, negative EBIT, EBITDA, net income, operating cash flow, and free cash flow, alongside sharply lower gross margin, materially weaken overall financial performance.

Income Statement

35Negative

Balance Sheet

68Positive

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	370.79M	389.90M	371.07M	361.95M	283.09M	227.46M
Gross Profit	79.40M	184.09M	180.54M	172.97M	126.03M	141.90M
EBITDA	6.11M	22.26M	13.54M	18.69M	44.11M	-14.10M
Net Income	-18.33M	-3.08M	-6.03M	-5.15M	-77.42M	-23.75M
Balance Sheet
Total Assets	385.53M	374.29M	379.92M	397.74M	423.17M	290.00M
Cash, Cash Equivalents and Short-Term Investments	2.70M	2.99M	8.41M	36.49M	30.42M	33.01M
Total Debt	59.04M	68.85M	70.30M	62.67M	110.54M	59.52M
Total Liabilities	165.32M	172.22M	180.61M	206.87M	298.83M	150.22M
Stockholders Equity	220.20M	202.07M	199.31M	190.88M	124.32M	139.79M
Cash Flow
Free Cash Flow	-21.45M	11.50M	3.40M	-36.67M	-43.76M	-54.80M
Operating Cash Flow	-20.69M	11.72M	5.21M	-34.80M	-40.71M	-54.55M
Investing Cash Flow	652.00K	2.87M	-17.29M	-8.09M	-18.71M	20.37M
Financing Cash Flow	19.38M	-20.01M	-15.99M	48.97M	56.83M	61.27M

Nordic LEVEL Group AB Class B Technical Analysis

Technical Analysis SentimentNegative

Last Price0.29

Price Trends

50DMA0.30Negative

100DMA0.31Negative

200DMA0.41Negative

Market Momentum

MACD0.00Negative

RSI47.76Neutral

STOCH38.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:LEVEL, the sentiment is Negative. The current price of 0.29 is below the 20-day moving average (MA) of 0.30, below the 50-day MA of 0.30, and below the 200-day MA of 0.41, indicating a bearish trend. The MACD of 0.00 indicates Negative momentum. The RSI at 47.76 is Neutral, neither overbought nor oversold. The STOCH value of 38.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:LEVEL.

Nordic LEVEL Group AB Class B Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

SE:LEVEL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ASSA.B	79Outperform	SEK 431.76B	25.72	15.41%	1.63%	0.27%	15.51%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SE:SECU.B	61Neutral	SEK 91.78B	13.10	17.04%	3.03%	-4.70%	40.25%
SE:VSURE	61Neutral	EUR 11.09B	651.82	―	0.94%	9.90%	-38.94%
SE:LEVEL	51Neutral	SEK 108.30M	-3.17	-9.35%	―	-3.53%	-682.61%
SE:TROAX	49Neutral	SEK 9.01B	234.18	1.75%	1.71%	-0.27%	-89.49%
SE:IRIS	45Neutral	SEK 115.26M	-0.50	-57.59%	―	26.40%	70.20%

* Industrials Sector Average

Performance Comparison

SE:LEVEL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:LEVEL	Nordic LEVEL Group AB Class B	0.29	-0.26	-46.94%
SE:ASSA.B	Assa Abloy AB (UK)	392.50	42.04	11.99%
SE:SECU.B	Securitas AB	161.70	22.43	16.10%
SE:TROAX	Troax Group AB Class A	151.20	15.52	11.44%
SE:IRIS	Irisity AB	0.30	0.18	141.94%
SE:VSURE	Verisure Plc	10.76	-5.06	-31.98%

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: Nov 05, 2026

Nordic LEVEL Group AB Class B AI Stock Analysis