Tempest Security AB (TSEC) AI Stock Analysis

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Tempest Security AB

(Nasdaq OMX AB:TSEC)

Select Model

Rating:57Neutral

Price Target:SEK 10.50▲(2.94% Upside)

Action:reiterated

Date:10/09/26

The score is driven primarily by improving financial performance—especially strong TTM cash flow and a return to profitability—tempered by thin margins and a leveraged balance sheet with a volatile recent history. Technicals are supportive due to a clear uptrend, but elevated RSI suggests overbought risk. Valuation is a notable headwind given the high P/E and lack of dividend yield support.

Positive Factors

Revenue GrowthThe substantial TTM revenue increase indicates stronger business activity and market reach, providing a broader base for future earnings. If this growth persists, it can improve operating leverage and support continued investment, although its durability still depends on maintaining demand.

Negative Factors

Thin MarginsNear-break-even gross and operating profitability leave limited protection if revenue growth slows or costs rise. Thin margins reduce the company’s ability to absorb execution challenges, constrain internally generated surplus cash, and make future earnings more sensitive to relatively small changes in operating performance.

Tempest Security AB (TSEC) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 106.93M
Dividend Yield: ―
Average Volume (3M): 19.62K
Price to Earnings (P/E): 39.8
Beta (1Y): 0.22
Revenue Growth: 16.19%
EPS Growth: ―
Country: Sweden
Employees: 659
Sector: General
Sector Strength: 55
Industry: Security & Protection Services

Tempest Security AB Business Overview & Revenue Model

Company Description

Tempest Security AB (publ) provides a full spectrum of global security and protection services. Their offerings include personalized security, such as close protection for executives, secure travel logistics, and residential guarding. The company als...

How the Company Makes Money

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Tempest Security AB Financial Statement Overview

Summary

TTM shows a meaningful turnaround with strong revenue growth and profitability turning positive, supported by very strong operating and free cash flow. Offsetting this, margins remain very thin (near break-even gross/operating profitability), results have been volatile with losses in 2024–2025, and the balance sheet is more leveraged with debt above equity, reducing flexibility if performance softens.

Income Statement

56Neutral

Balance Sheet

45Neutral

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	600.74M	578.23M	485.63M	438.08M	424.33M	339.66M
Gross Profit	1.85M	-20.79M	46.03M	401.33M	368.44M	300.64M
EBITDA	13.05M	10.47M	403.00K	21.05M	22.87M	-3.01M
Net Income	2.69M	-11.71M	-51.39M	3.69M	9.87M	-12.58M
Balance Sheet
Total Assets	208.20M	237.10M	208.71M	241.90M	235.23M	196.55M
Cash, Cash Equivalents and Short-Term Investments	11.11M	18.13M	15.19M	21.16M	21.19M	26.60M
Total Debt	36.04M	54.77M	36.95M	39.13M	45.25M	35.55M
Total Liabilities	187.85M	218.43M	177.24M	159.79M	157.01M	145.12M
Stockholders Equity	20.34M	18.67M	31.46M	80.00M	77.28M	52.91M
Cash Flow
Free Cash Flow	31.23M	-2.33M	8.97M	16.26M	5.67M	1.65M
Operating Cash Flow	31.86M	-2.02M	9.41M	19.09M	6.77M	3.78M
Investing Cash Flow	-889.00K	149.00K	-3.01M	-1.44M	-21.86M	-31.06M
Financing Cash Flow	-31.67M	5.01M	-12.74M	-17.50M	9.35M	24.80M

Tempest Security AB Technical Analysis

Technical Analysis SentimentNegative

Last Price10.20

Price Trends

50DMA10.46Negative

100DMA10.66Negative

200DMA10.64Negative

Market Momentum

MACD-0.16Positive

RSI43.76Neutral

STOCH26.44Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TSEC, the sentiment is Negative. The current price of 10.20 is below the 20-day moving average (MA) of 10.64, below the 50-day MA of 10.46, and below the 200-day MA of 10.64, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 43.76 is Neutral, neither overbought nor oversold. The STOCH value of 26.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:TSEC.

Tempest Security AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:TSEC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ASSA.B	79Outperform	SEK 431.76B	25.72	15.41%	1.63%	0.27%	15.51%
SE:LOOMIS	70Outperform	SEK 33.50B	17.38	15.89%	2.90%	0.55%	14.96%
SE:SGG	63Neutral	SEK 469.86M	11.96	6.72%	―	4.44%	―
SE:SECU.B	61Neutral	SEK 91.78B	13.10	17.04%	3.03%	-4.70%	40.25%
SE:VSURE	61Neutral	EUR 11.09B	651.82	―	0.94%	9.90%	-38.94%
SE:TSEC	57Neutral	SEK 106.93M	39.78	―	―	16.19%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

SE:TSEC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:TSEC	Tempest Security AB	10.20	0.42	4.29%
SE:ASSA.B	Assa Abloy AB (UK)	392.50	42.04	11.99%
SE:LOOMIS	Loomis AB	525.00	177.85	51.23%
SE:SECU.B	Securitas AB	161.70	22.43	16.10%
SE:SGG	Sensys Gatso Group AB	41.75	5.10	13.92%
SE:VSURE	Verisure Plc	10.76	-5.06	-31.98%

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: Oct 09, 2026

Tempest Security AB AI Stock Analysis