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Truecaller AB Class B
(TRUE.B)
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Rating:78Outperform
Price Target:
kr28.00
â–²(34.55% Upside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by strong financial quality (low leverage, healthy profitability, and solid cash conversion) and supportive technical momentum (price above key moving averages with positive MACD). Offsetting these positives are weaker recent operating trends (revenue and free-cash-flow declines) and a P/E that looks relatively demanding given the slowdown.
Positive Factors
Conservative balance sheet
Very low leverage limits financial risk and preserves flexibility to invest in product development, user growth and enterprise offerings. This strengthens resilience if operating conditions remain uneven over the next several quarters.
Negative Factors
Revenue contraction
Recent top-line contraction weakens the platform’s ability to expand advertising, subscriptions and B2B revenue simultaneously. If sustained, lower revenue growth could constrain operating leverage and reduce resources available for product investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage limits financial risk and preserves flexibility to invest in product development, user growth and enterprise offerings. This strengthens resilience if operating conditions remain uneven over the next several quarters.
Read all positive factors
Truecaller AB Class B (TRUE.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.66B
Dividend Yield1.15%
Average Volume (3M)1.37M
Price to Earnings (P/E)32.2
Beta (1Y)0.57
Revenue Growth-15.19%
EPS Growth-47.39%
CountrySE
Employees429
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.76
Shares Outstanding288,642,500
10 Day Avg. Volume913,674
30 Day Avg. Volume1,366,084
Financial Highlights & Ratios
PEG Ratio-0.68
Price to Book (P/B)5.29
Price to Sales (P/S)3.46
P/FCF Ratio12.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr31.00Price Target Upside48.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.95
Revenue Forecast (FY)kr1.72B
Truecaller AB Class B Business Overview & Revenue Model
Company Description
Truecaller AB (publ), operating globally via its subsidiary True Software Scandinavia AB, provides a communication platform designed to authenticate contacts and intercept unsolicited calls and messages. This service facilitates secure and pertine...
How the Company Makes Money
Truecaller primarily generates revenue through a mix of advertising, subscriptions, and business-to-business (B2B) services.
1) Advertising (consumer app monetization): The Truecaller app includes ad-supported functionality, and the company sells...
Truecaller AB Class B Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.67B | 1.91B | 2.43B | 1.73B | 1.77B | 1.13B |
| Gross Profit | 347.24M | 752.73M | 1.43B | 955.49M | 1.06B | 499.96M |
| EBITDA | 416.02M | 695.93M | 684.21M | 702.88M | 730.94M | 323.61M |
| Net Income | 253.02M | 388.63M | 524.32M | 536.33M | 535.23M | 258.31M |
Balance Sheet | ||||||
| Total Assets | 1.48B | 1.63B | 1.96B | 2.16B | 2.34B | 1.69B |
| Cash, Cash Equivalents and Short-Term Investments | 853.22M | 979.51M | 1.32B | 1.57B | 1.73B | 1.39B |
| Total Debt | 45.51M | 67.81M | 100.13M | 120.94M | 141.51M | 88.38M |
| Total Liabilities | 395.34M | 382.16M | 449.04M | 416.64M | 540.28M | 281.49M |
| Stockholders Equity | 1.09B | 1.25B | 1.51B | 1.74B | 1.80B | 1.41B |
Cash Flow | ||||||
| Free Cash Flow | 352.39M | 517.99M | 589.91M | 555.96M | 595.67M | 379.07M |
| Operating Cash Flow | 362.19M | 521.40M | 604.09M | 581.96M | 610.41M | 380.89M |
| Investing Cash Flow | 40.86M | 210.45M | 130.16M | -626.87M | -297.32M | -151.89M |
| Financing Cash Flow | -519.33M | -785.25M | -882.10M | -643.08M | -223.12M | 812.97M |
Truecaller AB Class B Technical Analysis
Positive
20.81
Price Trends
17.06
Positive
14.71
Positive
15.61
Positive
Market Momentum
1.51
Negative
80.69
Negative
91.98
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TRUE.B, the sentiment is Positive. The current price of 20.81 is above the 20-day moving average (MA) of 20.02, above the 50-day MA of 17.06, and above the 200-day MA of 15.61, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 80.69 is Negative, neither overbought nor oversold. The STOCH value of 91.98 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:TRUE.B.
Truecaller AB Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | kr7.66B | 32.23 | 21.22% | 1.73% | -15.19% | -47.39% | |
71 Outperform | kr3.22B | 28.90 | 32.94% | 1.41% | 8.48% | 19.59% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | kr199.57M | -1.43 | ― | ― | -19.34% | -1.24% | |
45 Neutral | kr183.04M | -2.54 | -13.77% | ― | -19.38% | -78.61% | |
44 Neutral | kr190.59M | -8.72 | ― | ― | -47.90% | 36.77% |
* Technology Sector Average
SE:TRUE.B
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Truecaller AB Class B Corporate Events
Truecaller Partners With Barncancerfonden to Boost Trusted Fundraising Calls
Aug 27, 2026
Truecaller is partnering with Barncancerfonden, the Swedish Childhood Cancer Fund, for Childhood Cancer Awareness Month in September to strengthen the charity’s phone-based fundraising. Through the collaboration, Truecaller will verify Barnc...
Truecaller Ramps Up Share Buybacks and Plans Major Cancellation of Treasury Shares
Aug 24, 2026
Truecaller has continued its active capital management strategy by repurchasing 1,134,983 Class B shares during week 34 of 2026, equal to 0.34% of its outstanding capital, bringing its total holding of own shares to 8.12% of the share count. The t...
Truecaller Tightens Free Float with Continued Share Buybacks
Aug 17, 2026
Truecaller has continued its aggressive share repurchase strategy, buying back 1,812,932 class B shares during the week of 10–14 August 2026, equal to 0.54% of its outstanding capital. Following these transactions, the company now holds 24,1...
Truecaller Calls Extraordinary Meeting to Cancel Treasury Shares and Restore Capital
Aug 14, 2026
Truecaller AB has called an extraordinary general meeting to be held at its Stockholm headquarters on 10 September 2026, inviting all shareholders registered with Euroclear Sweden to participate either directly or via proxies subject to standard S...
Truecaller Plans Share Capital Reduction to Boost Buy-Back Flexibility
Aug 14, 2026
Truecaller’s board has proposed reducing the company’s share capital by cancelling 24,185,040 repurchased Class B shares, currently part of its own holdings. The move aims to lower the volume of treasury shares and is designed to give ...
Truecaller lifts treasury stake to 7.25% amid ongoing share buybacks
Aug 10, 2026
Truecaller AB has repurchased 650,000 of its Class B shares during week 32 of 2026, equal to 0.19% of its outstanding capital, as part of an ongoing buyback programme authorized by shareholders at the 2026 annual general meeting. These purchases, ...
Truecaller deepens capital return with fresh share buybacks
Aug 3, 2026
Truecaller AB, the Swedish communications-tech company behind a leading global platform against fraud and unwanted calls, continues to deepen its presence in digital economies and emerging markets while serving more than 500 million active users w...
Truecaller Buybacks Push Own Shareholding Above 5% Threshold
Jul 27, 2026
Truecaller AB has continued its share buyback programme, repurchasing 5,270,000 Class B shares during week 30 of 2026, equal to 1.56% of its outstanding capital. The purchases pushed the company’s total holding of its own shares above the 5%...
Truecaller joins GSMA to bolster global mobile security and caller trust
Jul 21, 2026
Truecaller has joined the GSMA, the global association that unifies the mobile ecosystem, underscoring its growing influence in mobile security, caller identity and spam prevention. With a large user base concentrated in emerging markets and deep ...
Truecaller’s Profit Slumps in 2026 Amid India Revenue Drop Despite User Growth
Jul 17, 2026
Truecaller AB, a Swedish provider of caller ID and spam-blocking services, reported weaker financial performance for the second quarter and first half of 2026 despite continued growth in active users. The company maintains a strong balance sheet w...
Truecaller Buys U.S. VoIP Player TextPlus to Boost American Expansion
Jul 17, 2026
Truecaller has agreed to acquire all shares in U.S.-based communications software firm TextPlus Inc. for 15 million dollars, paid from its own funds, in a move designed to deepen its presence in the American market. TextPlus, founded in 2009 and h...
Truecaller Bolsters Financial Flexibility with SEK 850 Million SEB Loan
Jul 16, 2026
Truecaller has secured an SEK 850 million term loan facility from SEB and extended its undrawn SEK 500 million revolving credit facility to 2028, reinforcing its liquidity and strategic flexibility. The additional funding is intended to support a ...
Truecaller Sets July 17 Date for H1 2026 Interim Report Presentation
Jul 7, 2026
Truecaller will publish its interim report for the January-June 2026 period on Friday, July 17, 2026, at 07:30 CET. The release underscores the company’s continued engagement with investors and analysts around its performance in trusted digi...
Truecaller Ramps Up Share Buybacks, Amassing 4.12% of Its Own Stock
Jun 22, 2026
Truecaller AB has repurchased 3,972,108 Class B shares during week 25 of 2026, equal to 1.18% of its outstanding share capital, as part of a buyback programme running from June 2026 until the 2027 AGM. The buybacks, executed on Nasdaq Stockholm by...
Truecaller’s Ad Inventory Flag Lifted as Company Pushes Long-Term Monetisation Overhaul
Jun 16, 2026
Truecaller has reported that a flag placed on its advertising inventory by its largest demand partner in August 2025 has been removed, leading to a modest recent uptick in revenue from that partner. The flag had stemmed from an unannounced algorit...
Truecaller to Resume Share Buybacks Under Expanded Mandate
Jun 15, 2026
Truecaller’s board has resolved to resume repurchases of its Class B shares under a mandate from the May 2026 annual general meeting, aiming to adjust the company’s capital structure and enhance shareholder value. The program, which ru...
Truecaller Targets Entry-Level Android Users With Lightweight Anti-Fraud App
Jun 10, 2026
Truecaller, the Stockholm-listed caller ID and spam-blocking specialist, has launched Truecaller Lite, a stripped-down Android app tailored for entry-level smartphones in fast-growing emerging markets across Africa, Latin America, and Asia. The 10...
Truecaller Tightens Capital Structure with Share Cancellation and Conversions
May 29, 2026
Truecaller AB has cancelled 16,274,926 Class B shares that were previously repurchased under its share buy-back program and converted 2,924,288 Class C shares into Class B shares to facilitate delivery under its share-based incentive schemes. Afte...
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.