NGS Group AB (SE0009947708) AI Stock Analysis

NGS Group AB

(Nordic Growth Market:SE0009947708)

Select Model

Rating:42Neutral

Price Target:SEK 2.00▼(-14.53% Downside)

Action:reiterated

Date:01/30/26

The score is driven primarily by weak financial performance (deep losses, shrinking revenue, and a return to cash burn), with only moderate balance sheet support from improving leverage. Technicals reinforce the risk with a clear downtrend (price below key moving averages and negative MACD). Valuation is constrained by a negative P/E tied to ongoing losses.

Positive Factors

Healthcare-focused staffing modelSpecialization in healthcare and social care creates a structurally recurring revenue base: clients need ongoing coverage for short- and long-term capacity. The mix of temporary staffing and contracted specialist services supports utilization management and repeat demand across public and private providers.

Negative Factors

Sustained deep losses and shrinking revenuePersisting net losses alongside declining top-line weaken franchise economics and erode shareholder equity over time. Continued shrinkage in revenue undermines scale benefits in staffing businesses, making margin recovery harder and increasing the risk the company cannot self-fund a turnaround.

NGS Group AB (SE0009947708) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 63.27M
Dividend Yield: ―
Average Volume (3M): 4,717
Price to Earnings (P/E): -15.5
Beta (1Y): -0.00
Revenue Growth: -15.21%
EPS Growth: -518.64%
Country: Sweden
Employees: 164
Sector: General
Sector Strength: 55
Industry: Staffing & Employment Services

NGS Group AB Business Overview & Revenue Model

Company Description

NGS Group AB (publ) provides recruitment and staffing services in the healthcare, school, social services, and finance areas in Sweden, Norway, and Finland. The company is based in Stockholm, Sweden.

How the Company Makes Money

NGS Group AB generates revenue primarily by supplying healthcare and social care professionals to clients on a temporary or contract basis and charging for the delivered hours/assignments. Key revenue streams typically include (1) staffing services w...

NGS Group AB Financial Statement Overview

Summary

Financial performance is weak: results deteriorated into deep losses in 2023–2024 with shrinking revenue and materially negative margins. Cash flow also turned negative in 2024, indicating renewed cash burn. The main offset is a balance sheet with moderate, improving leverage (lower debt-to-equity), but ongoing losses are eroding equity and raise turnaround risk.

Income Statement

22Negative

Balance Sheet

54Neutral

Cash Flow

33Negative

NGS Group AB Technical Analysis

Technical Analysis SentimentNegative

Last Price2.34

Price Trends

50DMA2.69Negative

100DMA2.58Negative

200DMA2.45Negative

Market Momentum

MACD-0.04Positive

RSI41.58Neutral

STOCH56.91Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SE0009947708, the sentiment is Negative. The current price of 2.34 is below the 20-day moving average (MA) of 2.63, below the 50-day MA of 2.69, and below the 200-day MA of 2.45, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 41.58 is Neutral, neither overbought nor oversold. The STOCH value of 56.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SE0009947708.

NGS Group AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:SE0009947708 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:DEDI	72Outperform	SEK 619.52M	12.30	―	2.82%	9.56%	20.95%
SE:PION.B	62Neutral	SEK 336.27M	18.51	13.61%	―	-2.39%	―
SE:EWRK	57Neutral	SEK 876.46M	16.57	―	7.89%	-12.06%	-50.75%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:CALVIK	51Neutral	SEK 343.32M	22.83	―	―	137.45%	77.59%
SE:SE0009947708	42Neutral	SEK 58.06M	-15.53	―	―	-15.21%	-518.64%
SE:WISE	34Underperform	SEK 98.89M	-5.33	-28.66%	―	-19.48%	37.71%

* General Sector Average

Performance Comparison

SE:SE0009947708 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SE0009947708	NGS Group AB	2.34	-0.45	-16.13%
SE:WISE	Wise Group AB	11.15	-2.00	-15.21%
SE:PION.B	Poolia AB Class B	6.98	1.62	30.22%
SE:DEDI	Dedicare AB	62.00	18.48	42.48%
SE:CALVIK	Job Solution Sweden Holding AB	63.00	15.90	33.76%
SE:EWRK	Ework Group AB	50.70	-37.57	-42.56%

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: Jan 30, 2026

NGS Group AB AI Stock Analysis