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Synsam AB
(SYNSAM)
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Rating:71Outperform
Price Target:
kr67.00
â–²(12.61% Upside)
Action:Reiterated
Date:08/24/26
Overall score is driven primarily by solid profitability and strong free cash flow, offset by elevated leverage and some margin volatility risk. Technicals are positive but somewhat stretched (high RSI), while valuation is supportive with a reasonable P/E and a ~3% dividend yield.
Positive Factors
Solid Profitability
Healthy operating and net margins show that Synsam’s optical retail and eye-care model converts sales into meaningful earnings. Sustained profitability provides resources for store operations, customer programs, investment, and potential deleveraging.
Negative Factors
Elevated Leverage
Debt remains high relative to equity, limiting financial flexibility if consumer demand weakens or operating costs rise. Although leverage has improved, the balance sheet could constrain investment capacity and increase sensitivity to refinancing conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Solid Profitability
Healthy operating and net margins show that Synsam’s optical retail and eye-care model converts sales into meaningful earnings. Sustained profitability provides resources for store operations, customer programs, investment, and potential deleveraging.
Read all positive factors
Synsam AB (SYNSAM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr8.04B
Dividend Yield3.28%
Average Volume (3M)183.26K
Price to Earnings (P/E)13.6
Beta (1Y)0.44
Revenue Growth8.87%
EPS Growth71.61%
CountrySE
Employees5,400
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)4.03
Shares Outstanding145,313,750
10 Day Avg. Volume167,241
30 Day Avg. Volume183,259
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)4.00
Price to Sales (P/S)1.38
P/FCF Ratio9.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr70.00Price Target Upside17.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.94
Revenue Forecast (FY)kr7.65B
Synsam AB Business Overview & Revenue Model
Company Description
Synsam AB (publ), together with its subsidiaries, operates in the optical retail and eye health sector in the Nordic Region. The company offers lenses, frames, sunglasses, sports spectacles, contact lenses, eye care accessories, and hearing aids. ...
How the Company Makes Money
Synsam primarily makes money by selling optical products and by providing eye-care services through its store network. Key revenue streams typically include: (1) Prescription eyewear sales: frames, lenses (including lens upgrades), and complete pa...
Synsam AB Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.34B | 7.07B | 6.43B | 5.91B | 5.35B | 4.73B |
| Gross Profit | 1.85B | 727.00M | 4.84B | 4.46B | 4.07B | 3.64B |
| EBITDA | 1.74B | 1.55B | 1.48B | 1.35B | 1.22B | 1.19B |
| Net Income | 576.00M | 454.00M | 366.00M | 311.00M | 328.00M | 51.00M |
Balance Sheet | ||||||
| Total Assets | 8.50B | 7.95B | 8.24B | 8.04B | 8.02B | 7.60B |
| Cash, Cash Equivalents and Short-Term Investments | 648.00M | 600.00M | 420.00M | 582.00M | 444.00M | 755.00M |
| Total Debt | 3.69B | 3.96B | 3.42B | 3.25B | 3.40B | 3.13B |
| Total Liabilities | 5.95B | 5.51B | 5.69B | 5.52B | 5.43B | 5.12B |
| Stockholders Equity | 2.55B | 2.44B | 2.56B | 2.52B | 2.58B | 2.48B |
Cash Flow | ||||||
| Free Cash Flow | 1.08B | 991.00M | 556.00M | 903.00M | 308.00M | 708.00M |
| Operating Cash Flow | 1.35B | 1.27B | 933.00M | 1.15B | 690.00M | 980.00M |
| Investing Cash Flow | -352.00M | -318.00M | -398.00M | -270.00M | -385.00M | -283.00M |
| Financing Cash Flow | -959.00M | -759.00M | -672.00M | -712.00M | -631.00M | -780.00M |
Synsam AB Technical Analysis
Negative
59.50
Price Trends
56.29
Negative
55.88
Negative
59.92
Negative
Market Momentum
-0.10
Positive
38.89
Neutral
10.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SYNSAM, the sentiment is Negative. The current price of 59.5 is above the 20-day moving average (MA) of 57.35, above the 50-day MA of 56.29, and below the 200-day MA of 59.92, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 38.89 is Neutral, neither overbought nor oversold. The STOCH value of 10.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SYNSAM.
Synsam AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr27.01B | 21.80 | 41.64% | 1.62% | 9.82% | 33.55% | |
71 Outperform | kr8.04B | 13.62 | ― | 3.28% | 8.87% | 71.61% | |
66 Neutral | kr7.72B | 31.36 | ― | 0.81% | 9.35% | -91.93% | |
61 Neutral | kr12.01B | 20.45 | ― | 1.84% | 8.20% | 40.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | kr4.01B | 50.37 | 1.82% | 7.64% | -0.11% | 5.51% | |
49 Neutral | kr512.32M | -7.85 | ― | ― | 7.99% | 33.84% |
* General Sector Average
SE:SYNSAM
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-7.30%
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Synsam AB Corporate Events
Synsam expands share buy‑back as capital structure overhaul continues
Aug 24, 2026
Synsam AB has continued to execute its previously announced share buy‑back program, repurchasing a total of 95,000 shares on Nasdaq Stockholm between 17 and 21 August 2026. The transactions, carried out via DNB Carnegie Investment Bank, are ...
Synsam lifts growth and profits on booming subscriptions and Nordic expansion
Aug 21, 2026
Synsam reported robust second-quarter performance, with net sales up 11.3% to SEK 2,049 million and organic growth of 9.8%, driven by strong momentum in its spectacles subscription business and solid cash sales. Earnings improved as EBIT rose to S...
Synsam Steps Up Capital Return With Continued Share Buybacks
Aug 17, 2026
Synsam AB has repurchased 100,000 of its own shares between 10 and 14 August 2026 as part of an ongoing share buyback program of up to SEK 200 million aimed at adjusting its capital structure. The transactions, executed on Nasdaq Stockholm by DNB ...
Synsam Steps Up Share Buy-Backs to Adjust Capital Structure
Aug 10, 2026
Synsam AB has continued to actively manage its capital structure through its ongoing share buy-back programme, repurchasing 104,000 shares on Nasdaq Stockholm between August 3 and 7, 2026. The transactions, executed by DNB Carnegie Investment Bank...
Synsam Increases Treasury Stock Through Continued Share Buybacks
Aug 3, 2026
Synsam AB has continued its share buyback programme, repurchasing its own shares on Nasdaq Stockholm between 27 and 31 July 2026 through DNB Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 3,810,635 o...
Synsam Boosts Treasury Stock Through Ongoing Share Buybacks
Jul 27, 2026
Synsam AB has continued its share buyback programme, repurchasing its own shares on Nasdaq Stockholm between July 20 and July 24, 2026, with trades executed by DNB Carnegie Investment Bank on its behalf. Following these transactions, the company n...
Synsam Increases Treasury Share Holding Through Nasdaq Buybacks
Jul 20, 2026
Synsam AB has continued its share buyback programme, repurchasing its own shares on Nasdaq Stockholm between July 13 and July 17, 2026 through DNB Carnegie Investment Bank on its behalf. Following these transactions, the company now holds 3,638,63...
Synsam Increases Treasury Holdings Through Continued Share Buybacks
Jul 13, 2026
Synsam AB has continued its share buyback programme, repurchasing its own shares on Nasdaq Stockholm between 6 and 10 July 2026 through DNB Carnegie Investment Bank acting as its agent. Following these transactions, the company now holds 3,538,635...
Synsam Increases Treasury Share Holding Through Ongoing Buybacks
Jul 6, 2026
Synsam AB has continued to repurchase its own shares on Nasdaq Stockholm, with DNB Carnegie Investment Bank executing the trades on the company’s behalf between 29 June and 3 July 2026. Following these latest buybacks, Synsam now holds 3,408...
Synsam Expands Treasury Stock Through Continued Share Buybacks
Jun 29, 2026
Synsam AB has continued its share buyback programme, repurchasing its own shares on Nasdaq Stockholm between 22 and 26 June 2026 through DNB Carnegie Investment Bank acting on its behalf. Following these transactions, the company now holds 3,283,6...
Synsam boosts treasury stock with June share buybacks
Jun 22, 2026
Synsam AB has carried out a series of share repurchases on Nasdaq Stockholm between June 15 and June 18, 2026, via DNB Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 3,158,635 of its own shares out o...
Synsam expands share buy-back as part of capital structure overhaul
Jun 15, 2026
Synsam Group, a major Nordic optician chain with about 600 stores and SEK 7.1 billion in rolling annual sales, combines physical retail with digital services and subscription-based offerings for eyewear and eye health. Its business model targets c...
Synsam Executives Sell Shares to Cover LTIP Tax but Increase Net Holdings
Jun 11, 2026
Synsam Group has disclosed that members of its Group Management have sold part of their recently allotted shares to cover tax liabilities arising from the company’s 2023 long-term incentive program. Out of 196,114 shares allocated under LTIP...
Synsam Increases Treasury Stock Through Early June Share Buybacks
Jun 8, 2026
Synsam AB has continued its share buyback programme, acquiring additional own shares on Nasdaq Stockholm between 1 and 5 June 2026 through DNB Carnegie Investment Bank acting as its agent. Following these transactions, the company now holds 3,476,...
Synsam Cuts Treasury Shares, Adjusts Total Share Count
May 29, 2026
Synsam AB, a major Nordic optical retail group specializing in eye health, eyewear and subscription-based offerings, runs roughly 600 stores in the region under several brands and emphasizes digitalization and ESG in its business model. Its shares...
Synsam launches SEK 200m share buy-back to streamline capital structure
May 28, 2026
Synsam Group, a major Nordic optician and eyewear retailer with a strong focus on subscriptions, digitalization and ESG-driven innovation, has built a broad presence across the region through its Synsam, Synsam Outlet and Profil Optik stores. Its ...
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.