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Nordisk Bergteknik AB Class B
(NORB.B)
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Rating:52Neutral
Price Target:
kr9.00
▼(-32.84% Downside)
Action:Reiterated
Date:10/28/26
The score is primarily held back by pressured profitability/returns alongside elevated leverage, which reduces financial flexibility. Technicals add further downside pressure with a clear downtrend (below key moving averages and negative MACD). Valuation is only mid-range (P/E ~18.7) without a dividend yield to offset the current earnings quality and momentum risks.
Positive Factors
Improving Cash Generation
Improved operating and free cash flow provide the company with greater internal funding capacity for operations, investment, and debt service. Although cash generation remains uneven, the stronger TTM result is a constructive foundation for financial resilience over the coming quarters.
Negative Factors
Thin and Weakened Profitability
Very thin margins leave limited protection against project execution issues, cost pressure, or weaker volumes. The decline from 2022 also indicates that current revenue is producing substantially less bottom-line earnings, making a durable recovery in profitability important to shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Cash Generation
Improved operating and free cash flow provide the company with greater internal funding capacity for operations, investment, and debt service. Although cash generation remains uneven, the stronger TTM result is a constructive foundation for financial resilience over the coming quarters.
Read all positive factors
Nordisk Bergteknik AB Class B (NORB.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr516.29M
Dividend Yield3.54%
Average Volume (3M)40.88K
Price to Earnings (P/E)18.7
Beta (1Y)0.23
Revenue Growth4.35%
EPS Growth118.88%
CountrySE
Employees1,157
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.48
Shares Outstanding57,237,865
10 Day Avg. Volume57,812
30 Day Avg. Volume40,881
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.66
Price to Sales (P/S)0.23
P/FCF Ratio134.51
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)1.23
Revenue Forecast (FY)kr3.71B
Nordisk Bergteknik AB Class B Business Overview & Revenue Model
Company Description
Nordisk Bergteknik AB (publ), through its various subsidiaries, delivers specialized rock handling and ground engineering solutions across Sweden and Norway. Their extensive rock management capabilities encompass a wide array of techniques, includ...
How the Company Makes Money
Nordisk Bergteknik makes money mainly by delivering rock and ground engineering services under contract for construction and civil engineering projects. Revenue is primarily generated through (1) project-based contracting where the company is paid...
Nordisk Bergteknik AB Class B Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
52
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.54B | 3.45B | 3.31B | 3.53B | 3.40B | 1.92B |
| Gross Profit | 1.06B | 2.01B | 2.03B | 158.70M | 1.92B | 1.14B |
| EBITDA | 434.00M | 440.40M | 442.90M | 457.60M | 479.00M | 249.60M |
| Net Income | 27.80M | 28.50M | 9.60M | 40.40M | 144.40M | 44.70M |
Balance Sheet | ||||||
| Total Assets | 3.54B | 3.40B | 3.41B | 3.55B | 3.38B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 63.40M | 78.30M | 122.90M | 124.10M | 254.90M | 455.80M |
| Total Debt | 1.53B | 1.71B | 1.54B | 1.53B | 1.40B | 805.60M |
| Total Liabilities | 2.28B | 2.18B | 2.19B | 2.33B | 2.13B | 1.27B |
| Stockholders Equity | 1.26B | 1.23B | 1.23B | 1.21B | 1.22B | 947.30M |
Cash Flow | ||||||
| Free Cash Flow | 89.40M | 6.00M | 90.60M | 50.10M | 300.00K | -28.40M |
| Operating Cash Flow | 291.30M | 237.60M | 322.00M | 291.60M | 267.60M | 122.70M |
| Investing Cash Flow | -118.90M | -158.10M | -154.80M | -281.40M | -405.40M | -263.20M |
| Financing Cash Flow | -159.40M | -138.70M | -163.10M | -153.90M | -53.40M | 514.60M |
Nordisk Bergteknik AB Class B Technical Analysis
Negative
13.40
Price Trends
10.08
Negative
10.57
Negative
11.45
Negative
Market Momentum
-0.33
Positive
38.98
Neutral
26.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NORB.B, the sentiment is Negative. The current price of 13.4 is above the 20-day moving average (MA) of 9.37, above the 50-day MA of 10.08, and above the 200-day MA of 11.45, indicating a bearish trend. The MACD of -0.33 indicates Positive momentum. The RSI at 38.98 is Neutral, neither overbought nor oversold. The STOCH value of 26.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NORB.B.
Nordisk Bergteknik AB Class B Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr51.71B | 22.71 | 18.15% | 2.58% | 5.87% | 7.65% | |
67 Neutral | kr114.49B | 17.37 | 10.96% | 5.04% | -5.70% | 6.78% | |
65 Neutral | kr27.85B | 13.12 | 12.81% | 3.54% | 2.19% | 36.51% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | kr329.21M | 5.27 | ― | 5.56% | -6.63% | ― | |
52 Neutral | kr516.29M | 18.66 | 2.24% | 3.54% | 4.35% | 118.88% | |
48 Neutral | kr16.16B | 230.13 | 1.00% | 5.85% | -10.38% | -95.01% |
* Industrials Sector Average
SE:NORB.B
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Nordisk Bergteknik AB Class B Corporate Events
Nordisk Bergteknik Sets Nomination Committee Ahead of 2027 AGM
Oct 28, 2026
Nordisk Bergteknik AB has appointed a three-member Nomination Committee ahead of its Annual General Meeting scheduled for May 11, 2027 in Gothenburg, Sweden. The committee members represent major shareholders Navigo Invest AB, Svedulf Förvalt...
Nordisk Bergteknik Reshapes Group Management to Drive Sustainable Growth
Sep 24, 2026
Nordisk Bergteknik, a Nordic provider of rock handling and foundation solutions for infrastructure and construction projects, is consolidating its presence across Sweden, Norway and Finland with a strategy focused on sustainable growth and operati...
Nordisk Bergteknik Wins Long-Term Railway Maintenance Contracts in Stockholm
Sep 10, 2026
Nordisk Bergteknik has secured two long-term contracts for machinery and winter-related railway maintenance services in southern Stockholm, covering the Älvsjö–Gnesta and Älvsjö–Nynäshamn sections. The assignme...
Nordisk Bergteknik Wins SEK 185 Million Contract on Norrbotniabanan Railway
Aug 20, 2026
Nordisk Bergteknik has been appointed a strategic subcontractor to NYAB for the expansion of the Norrbotniabanan railway segment between Bureå and Södra Innervik in northern Sweden. The contract, worth an estimated SEK 185 million and co...
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.