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Nelly Group AB
(NELLY)
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Rating:60Neutral
Price Target:
kr32.00
▼(-13.70% Downside)
Action:Reiterated
Date:07/18/26
The score is supported by improved profitability and a healthier balance sheet, along with a low P/E valuation. These positives are tempered by weak technical positioning (below major moving averages with negative MACD) and mixed recent operating momentum, including softer revenue/profitability versus 2025 and reduced cash conversion.
Positive Factors
Profitability turnaround
The recovery from losses to double-digit EBIT and net margins indicates a materially stronger earnings base. If maintained, this profitability can support reinvestment, improve resilience in online fashion retail, and provide a more durable platform for future growth.
Negative Factors
Softening earnings momentum
The easing in revenue and profitability after the 2024–2025 recovery suggests that the turnaround has not yet translated into consistently accelerating growth. Continued softness could limit operating leverage and make the current earnings improvement less durable over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability turnaround
The recovery from losses to double-digit EBIT and net margins indicates a materially stronger earnings base. If maintained, this profitability can support reinvestment, improve resilience in online fashion retail, and provide a more durable platform for future growth.
Read all positive factors
Nelly Group AB (NELLY) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr911.63M
Dividend Yield2.91%
Average Volume (3M)129.56K
Price to Earnings (P/E)6.7
Beta (1Y)0.94
Revenue Growth6.54%
EPS Growth6.20%
CountrySE
Employees174
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)4.50
Shares Outstanding30,129,398
10 Day Avg. Volume178,817
30 Day Avg. Volume129,563
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)8.02
Price to Sales (P/S)2.58
P/FCF Ratio29.19
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)2.96
Revenue Forecast (FY)kr1.23B
Nelly Group AB Business Overview & Revenue Model
Company Description
Nelly Group AB (publ) operates as a fashion company in Sweden, rest of Nordics, and internationally. The company offers clothes, accessories, beauty products, and sportswear, as well as lingerie and swimwear for women; and clothes, shoes, and acce...
How the Company Makes Money
Nelly Group AB primarily makes money by selling products directly to consumers through its e-commerce channels (direct-to-consumer online retail). Revenue is generated when customers purchase apparel, footwear, accessories, and beauty items sold o...
Nelly Group AB Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
68
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.24B | 1.26B | 1.09B | 1.06B | 1.30B | 1.43B |
| Gross Profit | 675.00M | 686.00M | 581.40M | 518.60M | 566.30M | 638.80M |
| EBITDA | 177.90M | 225.30M | 145.70M | 63.60M | -22.40M | -29.10M |
| Net Income | 135.30M | 168.50M | 83.40M | -1.50M | -71.70M | -47.80M |
Balance Sheet | ||||||
| Total Assets | 1.04B | 989.70M | 898.50M | 799.80M | 837.20M | 925.40M |
| Cash, Cash Equivalents and Short-Term Investments | 300.60M | 253.80M | 196.90M | 151.10M | 96.80M | 197.50M |
| Total Debt | 267.80M | 287.10M | 287.30M | 283.60M | 294.60M | 316.40M |
| Total Liabilities | 594.60M | 583.30M | 661.30M | 621.20M | 703.60M | 721.00M |
| Stockholders Equity | 442.70M | 406.40M | 237.10M | 178.60M | 133.60M | 204.40M |
Cash Flow | ||||||
| Free Cash Flow | 99.70M | 111.60M | 153.30M | 51.10M | -75.90M | -4.30M |
| Operating Cash Flow | 104.60M | 123.10M | 154.50M | 59.30M | -64.80M | 18.80M |
| Investing Cash Flow | -25.50M | -32.10M | -22.40M | -22.90M | -11.10M | -22.90M |
| Financing Cash Flow | -38.30M | -34.10M | -56.40M | 17.80M | -25.00M | -29.20M |
Nelly Group AB Technical Analysis
Negative
37.08
Price Trends
34.91
Negative
34.94
Negative
62.96
Negative
Market Momentum
-1.38
Positive
28.99
Positive
4.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NELLY, the sentiment is Negative. The current price of 37.08 is above the 20-day moving average (MA) of 33.49, above the 50-day MA of 34.91, and below the 200-day MA of 62.96, indicating a bearish trend. The MACD of -1.38 indicates Positive momentum. The RSI at 28.99 is Positive, neither overbought nor oversold. The STOCH value of 4.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NELLY.
Nelly Group AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr1.36B | 19.58 | 11.99% | 2.30% | 11.47% | 15.20% | |
64 Neutral | kr8.48B | 29.36 | ― | ― | 3.66% | -11.08% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | kr911.63M | 6.67 | 33.64% | 2.91% | 6.54% | 6.20% | |
53 Neutral | kr11.92B | 15.04 | 11.65% | 3.57% | 8.88% | -6.70% | |
52 Neutral | kr50.31M | -15.37 | -4.97% | ― | -11.44% | 73.71% | |
50 Neutral | kr3.70B | 47.88 | 1.82% | 8.04% | -0.11% | 5.51% |
* Consumer Cyclical Sector Average
SE:NELLY
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Nelly Group AB Corporate Events
Nelly Group Schedules Q3 2026 Report and Investor Call
Oct 1, 2026
Nelly Group will release its third-quarter 2026 interim report on 22 October at 08:00 CEST, followed by an English-language conference call for analysts, investors, and media at 09:00 CEST. The presentation, hosted by CEO Helena Karlinder-Öst...
Nelly Group Steps Up Share Buybacks, Lifting Treasury Holdings
Sep 28, 2026
Nelly Group AB has continued to execute on its share buyback programme, repurchasing a total of 105,000 ordinary shares on Nasdaq Stockholm between 21 and 25 September 2026 through Danske Bank acting on its behalf. After these transactions, the co...
Nelly Group CFO Josefin Dalum Resigns Amid Planned Leadership Transition
Sep 25, 2026
Nelly Group AB has announced that Chief Financial Officer Josefin Dalum will resign to take a role outside the company, remaining in post through her six-month notice period while the finance function continues to operate as usual. The online fash...
Nelly Group Steps Up Share Buybacks to Optimise Capital Structure
Sep 21, 2026
Nelly Group AB has repurchased 140,000 of its own ordinary shares on Nasdaq Stockholm between 14 and 18 September 2026, as part of a broader buyback programme aimed at optimising its capital structure. The transactions were executed by Danske Bank...
Nelly Group Expands Share Buyback to Boost Capital Structure
Sep 14, 2026
Nelly Group AB has continued its share buyback programme, repurchasing 143,000 ordinary shares on Nasdaq Stockholm between 7 and 11 September 2026 to optimise its capital structure. The buybacks, executed by Danske Bank on the company’s beha...
Nelly Group Boosts Treasury Position With New Share Buybacks
Sep 7, 2026
Nelly Group AB has continued its share repurchase program, buying back a total of 148,000 ordinary shares on Nasdaq Stockholm between 31 August and 4 September 2026 through Danske Bank acting on its behalf. Following these transactions, the compan...
Nelly Group Steps Up Share Buybacks to Optimise Capital Structure
Aug 31, 2026
Nelly Group AB has continued its share buyback programme, repurchasing 150,000 ordinary shares on Nasdaq Stockholm during the week of 24–28 August 2026. The transactions, executed by Danske Bank on the company’s behalf, form part of a ...
Nelly Group Steps Up Share Buybacks to Optimise Capital Structure
Aug 24, 2026
Nelly Group AB, a leading Nordic fashion e-commerce platform for young women, builds its appeal through a mix of proprietary NELLY products and curated external brands, backed by a strong digital footprint and growing physical flagship store netwo...
Nelly Group CEO Helena Karlinder‑Östlundh to Step Down After Profitability Turnaround
Aug 5, 2026
Nelly Group AB has announced that CEO Helena Karlinder‑Östlundh will step down by 5 February 2027 to take a new role outside the company, with the board launching an immediate search for her successor and Helena remaining in post until ...
Nelly Group launches SEK 30 million share buyback to optimise capital structure
Jul 15, 2026
Nelly Group AB’s board has approved a share repurchase programme of up to SEK 30 million, targeting a maximum of 2,500,000 ordinary shares, equal to about 8.18% of its total share count. The buyback, executed by Danske Bank under EU Market A...
Nelly Group Posts Lower Q2 Earnings but Strengthens Cash Position
Jul 15, 2026
Nelly Group AB reported weaker financial results for the second quarter of 2026, with net revenue falling 4.3 percent to SEK 346.3 million and gross margin easing to 53.2 percent. Operating profit declined to SEK 32.3 million, cutting the operatin...
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.