Mycronic AB (MYCR) AI Stock Analysis

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Mycronic AB

(Nasdaq OMX AB:MYCR)

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Rating:67Neutral

Price Target:SEK 327.00▲(8.64% Upside)

Action:reiterated

Date:10/23/26

The score is driven primarily by strong fundamentals—high margins, strong multi-year growth, and an exceptionally low-debt balance sheet—tempered by weaker cash-flow conversion and volatility. Technicals materially detract as the stock is in a pronounced downtrend with negative momentum. Valuation is also a moderate headwind given the elevated P/E and modest dividend yield.

Positive Factors

Premium profitabilityMycronic’s strong gross, operating, and net margins indicate valuable technology, pricing power, and disciplined execution. Sustained profitability should support internal funding for research, product development, and customer support while providing resilience through normal industrial demand fluctuations.

Negative Factors

Weak cash conversionThe gap between reported earnings and cash generation reduces visibility into how efficiently profits become deployable funds. If this pattern persists, working-capital or investment demands could constrain internally funded growth and make cash available for shareholder returns or strategic investment less predictable.

Mycronic AB (MYCR) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 58.95B
Dividend Yield: 1.08%
Average Volume (3M): 264.00K
Price to Earnings (P/E): 29.5
Beta (1Y): 0.83
Revenue Growth: 16.55%
EPS Growth: 14.12%
Country: Sweden
Employees: 2,772
Sector: General
Sector Strength: 55
Industry: Industrial - Machinery

Mycronic AB Business Overview & Revenue Model

Company Description

Mycronic AB (publ), based in Täby, Sweden, is a global entity dedicated to the creation, production, and sale of advanced manufacturing machinery for the electronics sector. The company operates extensively across Sweden, wider Europe, North and Sout...

How the Company Makes Money

Mycronic makes money primarily by selling high-value capital equipment used in electronics manufacturing and by generating recurring revenue from supporting that installed base. Key revenue streams typically include: (1) System/equipment sales: one-t...

Mycronic AB Financial Statement Overview

Summary

Strong multi-year revenue growth and premium profitability (TTM operating margin ~29%, net margin ~21%) support a high score. The balance sheet is exceptionally conservative with very low leverage (TTM debt-to-equity ~5%) and strong ROE (~16–26%). The main offset is weaker and choppy cash conversion: TTM operating cash flow trails net income and free cash flow is ~41% of net income, reducing near-term earnings-to-cash visibility.

Income Statement

88Very Positive

Balance Sheet

92Very Positive

Cash Flow

74Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.30B	7.94B	7.06B	5.71B	5.12B	4.63B
Gross Profit	5.00B	4.12B	3.72B	2.72B	2.29B	2.28B
EBITDA	3.06B	2.30B	2.37B	1.51B	1.16B	1.26B
Net Income	1.99B	1.56B	1.68B	998.00M	741.00M	828.00M
Balance Sheet
Total Assets	13.24B	10.92B	10.41B	8.34B	7.34B	6.14B
Cash, Cash Equivalents and Short-Term Investments	3.27B	2.32B	3.01B	2.14B	1.27B	683.00M
Total Debt	415.00M	348.00M	219.00M	228.00M	270.00M	243.00M
Total Liabilities	4.74B	3.81B	3.84B	3.06B	2.64B	2.14B
Stockholders Equity	8.50B	7.11B	6.53B	5.25B	4.66B	3.96B
Cash Flow
Free Cash Flow	999.00M	1.32B	1.64B	1.41B	712.00M	908.00M
Operating Cash Flow	2.41B	1.41B	1.87B	1.61B	853.00M	998.00M
Investing Cash Flow	-462.00M	-1.13B	-500.00M	-195.00M	67.00M	-1.22B
Financing Cash Flow	-818.00M	-862.00M	-552.00M	-447.00M	-382.00M	-437.00M

Mycronic AB Technical Analysis

Technical Analysis SentimentNegative

Last Price301.00

Price Trends

50DMA322.41Negative

100DMA320.33Negative

200DMA280.65Positive

Market Momentum

MACD-7.50Positive

RSI40.58Neutral

STOCH75.64Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MYCR, the sentiment is Negative. The current price of 301.00 is below the 20-day moving average (MA) of 318.02, below the 50-day MA of 322.41, and above the 200-day MA of 280.65, indicating a neutral trend. The MACD of -7.50 indicates Positive momentum. The RSI at 40.58 is Neutral, neither overbought nor oversold. The STOCH value of 75.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MYCR.

Mycronic AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:MYCR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ATCO.B	73Outperform	SEK 858.54B	32.43	24.21%	1.87%	2.72%	0.11%
SE:MYCR	67Neutral	SEK 58.95B	29.54	25.38%	1.08%	16.55%	14.12%
SE:ALFA	67Neutral	SEK 225.51B	27.71	17.58%	1.65%	4.27%	-2.41%
SE:SAND	65Neutral	SEK 450.20B	23.60	18.92%	1.67%	14.34%	29.04%
SE:MTRS	60Neutral	SEK 25.27B	47.60	10.12%	1.16%	-0.19%	78.46%
SE:NMAN	60Neutral	SEK 4.86B	21.66	―	2.89%	-6.05%	-24.08%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

SE:MYCR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:MYCR	Mycronic AB	301.00	80.77	36.68%
SE:ALFA	Alfa Laval AB	545.60	106.83	24.35%
SE:ATCO.B	Atlas Copco AB (0R82)	160.40	23.52	17.18%
SE:SAND	Sandvik AB (UK)	358.90	77.96	27.75%
SE:MTRS	Munters Group AB	138.35	-25.20	-15.41%
SE:NMAN	Nederman Holding AB	138.40	-19.61	-12.41%

Mycronic AB Corporate Events

Mycronic Lifts 2026 Sales Outlook as Global Technologies Drives Earnings Surge

Oct 22, 2026

Mycronic AB reported a robust third quarter, with order intake up 10 percent to SEK 2,667 million and net sales jumping 38 percent to SEK 2,356 million, driven mainly by strong performance in Global Technologies across all divisions. EBIT more than d...

Mycronic Names Mikael Wahlsten to Lead Pattern Generators Division

Oct 21, 2026

Mycronic AB has appointed longtime executive Mikael Wahlsten as Senior Vice President Pattern Generators and member of the executive management team, effective November 1, 2026, succeeding Charlott Samuelsson, who is retiring after three decades with...

Mycronic Wins SLX Mask Writer Order to Support European Chip Modernization

Oct 20, 2026

Mycronic AB has received an order worth between USD 5 million and USD 7 million from an existing customer for its SLX laser mask writer, scheduled for delivery to a European site in the third quarter of 2027. The deal underscores growing demand for m...

Mycronic Wins U.S. Order for Two SLX Semiconductor Mask Writers

Oct 14, 2026

Mycronic AB has secured an order from a U.S. customer for two SLX laser mask writers, with a total value estimated between USD 14 million and USD 16 million and delivery scheduled for the first quarter of 2028. The SLX systems, which share technology...

Mycronic sets date for Q3 2026 report and investor webcast

Oct 8, 2026

Mycronic has scheduled the release of its third-quarter 2026 report for October 22, 2026, at 8:00 a.m. CEST, followed by a webcast presentation at 10:00 a.m. CEST for analysts, investors and media. The event, led by President and CEO Anders Lindqvist...

Mycronic Appoints Nomination Committee for 2027 AGM

Sep 15, 2026

Mycronic AB has appointed the Nomination Committee for its 2027 Annual General Meeting in line with instructions approved at the 2026 AGM. The committee consists of representatives from major shareholders Bure Equity, SEB Funds and the Fourth Swedish...

Mycronic Sets Ambitious Long-Term Growth and Profitability Targets

Aug 31, 2026

Mycronic has set new long-term financial targets, aiming to lift net sales to SEK 20 billion in the period 2032–2035 while maintaining an EBIT margin of around 25 percent. The unchanged sustainability goals and requirement that each division de...

Mycronic wins USD 21–24 million Prexision 80 Evo order from Asian display customer

Aug 28, 2026

Mycronic has received a replacement order from an existing Asian customer for a Prexision 80 Evo mask writer, a high-end system designed to meet the demanding requirements of complex display photomasks. The order, valued between USD 21 million and US...

Mycronic wins new Asian order for SLX semiconductor mask writer

Aug 13, 2026

Mycronic’s Pattern Generators division, which supplies mask writers and metrology systems for display and semiconductor manufacturing, has secured a new customer in Asia for its SLX laser mask writer. The order, valued between USD 4 million and...

Mycronic wins Asian order for SLX laser mask writer

Jul 23, 2026

Mycronic has secured an order valued between USD 5 million and 7 million from an existing customer in Asia for its SLX laser mask writer, with delivery scheduled for the second quarter of 2027. The SLX system, which leverages technology from Mycronic...

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 23, 2026

Mycronic AB AI Stock Analysis