Synsam AB (SYNSAM) AI Stock Analysis

Synsam AB

(Nasdaq OMX AB:SYNSAM)

Select Model

Rating:71Outperform

Price Target:SEK 58.00▲(3.02% 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

Strong cash generationHealthy operating and free cash flow demonstrate that Synsam converts its optical retail earnings into funding capacity. Positive free-cash-flow growth supports reinvestment, debt servicing, and shareholder returns, strengthening resilience over the next several quarters.

Negative Factors

Elevated leverageLeverage remains the principal balance-sheet constraint despite recent improvement. Debt increases the claims on operating cash flow, reduces flexibility for investment or acquisitions, and leaves Synsam less able to absorb weaker trading conditions without financial pressure.

Synsam AB (SYNSAM) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 7.99B
Dividend Yield: 3.20%
Average Volume (3M): 203.11K
Price to Earnings (P/E): 14.0
Beta (1Y): 0.40
Revenue Growth: 8.87%
EPS Growth: 71.61%
Country: Sweden
Employees: 5,600
Sector: General
Sector Strength: 55
Industry: Specialty Retail

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. It...

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 pairs...

Synsam AB Financial Statement Overview

Summary

Profitability and cash generation are solid (TTM EBIT margin ~12.5%, net margin ~7.9%, and free cash flow ~1.08B with decent conversion vs net income), but overall quality is held back by a debt-heavy balance sheet (TTM debt-to-equity ~1.44x) and historical margin volatility.

Income Statement

76Positive

Balance Sheet

58Neutral

Cash Flow

74Positive

Financial statement breakdown
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

Technical Analysis SentimentPositive

Last Price56.30

Price Trends

50DMA54.70Positive

100DMA55.24Positive

200DMA58.03Negative

Market Momentum

MACD0.62Negative

RSI62.96Neutral

STOCH57.25Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SYNSAM, the sentiment is Positive. The current price of 56.30 is above the 20-day moving average (MA) of 54.13, above the 50-day MA of 54.70, and below the 200-day MA of 58.03, indicating a neutral trend. The MACD of 0.62 indicates Negative momentum. The RSI at 62.96 is Neutral, neither overbought nor oversold. The STOCH value of 57.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SYNSAM.

Synsam AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:SYNSAM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SYNSAM	71Outperform	SEK 8.08B	13.97	―	3.20%	8.87%	71.61%
SE:CLAS.B	70Outperform	SEK 31.53B	25.84	41.64%	1.34%	9.82%	33.55%
SE:RUSTA	61Neutral	SEK 12.61B	21.58	―	2.16%	8.20%	40.01%
SE:APOTEA	58Neutral	SEK 9.59B	39.83	―	0.64%	9.35%	-91.93%
SE:CDON	58Neutral	SEK 528.08M	-6.77	―	―	7.12%	8.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:FOI.B	53Neutral	SEK 4.35B	44.07	2.35%	7.06%	1.03%	15.81%

* General Sector Average

Performance Comparison

SE:SYNSAM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SYNSAM	Synsam AB	56.30	-3.61	-6.02%
SE:CLAS.B	Clas Ohlson AB	513.50	186.13	56.86%
SE:FOI.B	Fenix Outdoor International AG Series B	318.50	-145.54	-31.36%
SE:APOTEA	Apotea AB	94.00	13.16	16.28%
SE:RUSTA	Rusta AB	83.30	22.79	37.67%
SE:CDON	CDON AB	48.00	-12.00	-20.00%

Synsam AB Corporate Events

Synsam Steps Up Share Buybacks to Adjust Capital Structure

Oct 12, 2026

Synsam AB has repurchased 125,000 of its own shares on Nasdaq Stockholm between October 5 and October 9, 2026, as part of an ongoing share buyback program of up to SEK 200 million. The transactions, executed by DNB Carnegie Investment Bank on Synsam&...

Synsam boosts capital efficiency with continued share buy‑backs

Oct 5, 2026

Synsam AB continued to adjust its capital structure in late September and early October by repurchasing 100,000 shares under its ongoing buy‑back programme of up to SEK 200 million. The programme, launched in May and running until February 2027...

Synsam steps up capital-structure optimisation with new share buy-backs

Sep 28, 2026

Synsam AB has continued to execute its previously announced share buy-back programme, repurchasing 100,000 shares on Nasdaq Stockholm between 21 and 25 September 2026 for a total consideration of roughly SEK 5.37 million. The transactions, carried ou...

Synsam adds 100,000 shares to buy‑back as capital structure overhaul continues

Sep 21, 2026

Synsam AB has continued to execute its share buy‑back programme during the week of September 14–18, 2026, repurchasing a total of 100,000 shares on Nasdaq Stockholm. The initiative, capped at SEK 200 million and running until February 202...

Synsam continues share buy‑backs to fine‑tune capital structure

Sep 14, 2026

Synsam AB, the listed Nordic optical retail group, has continued to adjust its capital structure through a share buy‑back programme authorised by its board and executed on Nasdaq Stockholm. The initiative aims to reduce the company’s shar...

Synsam Steps Up Share Buy-Back as It Sharpens Capital Structure

Sep 7, 2026

Synsam AB, the Nordic optical retail group known for its subscription-based offerings in eye health and eye fashion, continues to build scale across Sweden and neighboring markets through roughly 600 stores and a growing digital footprint. The compan...

Synsam steps up share buy‑backs to fine‑tune capital structure

Aug 31, 2026

Synsam AB has continued to execute its previously announced share buy‑back program, repurchasing 100,000 shares between August 24 and August 28, 2026 on Nasdaq Stockholm. The buy‑backs, conducted via DNB Carnegie Investment Bank AB, are p...

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 par...

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 SEK...

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 Car...

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 AB...

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 of i...

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 now...

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 3,638,635 t...

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: Aug 24, 2026

Synsam AB AI Stock Analysis