Addtech AB Class B (ADDT.B) AI Stock Analysis

• Market Cap: kr84.49B
• Dividend Yield: 0.98%
• Average Volume (3M): 345.02K
• Price to Earnings (P/E): 42.8
• Beta (1Y): 1.13
• Revenue Growth: 9.24%
• EPS Growth: 15.27%
• Country: SE
• Employees: 4,430
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Distribution
• EPS (TTM): 1.90
• Shares Outstanding: 259,929,600
• 10 Day Avg. Volume: 332,701
• 30 Day Avg. Volume: 345,023
• PEG Ratio: 2.63
• Price to Book (P/B): 11.92
• Price to Sales (P/S): 3.62
• P/FCF Ratio: 29.16
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr390.00
• Price Target Upside: 22.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 8.71
• Revenue Forecast (FY): kr22.92B

• Rating: 74 Outperform
• Price Target: kr366.00 ▲(15.31% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by strong financial performance (rapid TTM growth, solid margins, and strong free-cash-flow vs net income). Technicals are supportive but not clean due to a negative MACD. Valuation is the main headwind, with a high P/E and low dividend yield.

Positive Factors

Strong free cash flow conversion

FCF conversion near 1.0x indicates the business converts reported profits into cash reliably. That durable cash generation supports funding bolt-on acquisitions, dividend capacity and reinvestment without constant external financing, increasing long-term financial flexibility.

Healthy and sustainable margins

Above-average gross and operating margins for an industrial distributor reflect pricing discipline, value-added services and operating leverage. Persistent mid-teens operating strength supports reinvestment, ROE and resilience across economic cycles in core niches.

Decentralized niche acquisition model

A repeatable M&A model plus decentralized subsidiaries creates many focused market positions, local customer relationships and cross-selling opportunities. This structural approach builds durable competitive moats in specialized industrial niches and scales procurement benefits over time.

Negative Factors

Meaningful leverage on the balance sheet

Debt around 0.8–0.9x equity is manageable but material for a distributor, reducing the balance sheet cushion. In a downturn or if acquisition pace slows, leverage limits optionality and raises refinancing and interest-rate sensitivity, increasing long-term financial risk.

Weaker cash conversion vs EBIT

Cash conversion short of EBIT points to working-capital friction (receivables/inventory) typical in distribution. This can create quarter-to-quarter liquidity volatility, constrain organic investment capacity and force reliance on external funding during growth or M&A cycles.

Uneven revenue growth / dependence on M&A

Historic growth volatility and reliance on acquisitions mean future revenue trajectories can be lumpy. Sustaining current rapid TTM growth without continued M&A is uncertain, and integration or cyclical industrial demand risks could depress organic momentum over multiple quarters.

Addtech AB Class B Business Overview & Revenue Model

Company Description

Addtech AB (publ.) operates as a technology trading company in Sweden, Denmark, Finland, Norway, rest of Europe, and internationally. The company operates through Automation, Electrification, Energy, Industrial Solutions, and Process Technology segments. It markets and sells intelligent solutions, subsystems, and components to industrial automation and infrastructure sector, including solutions for robotics, control systems, sensors, and industrial and communication networks. The company also offers battery systems; connectivity solutions; and intelligent power products, electronics, motors, and powertrain solutions. In addition, it produces and sells products for electricity transmission and electrical installation, as well as safety products for traffic and the home environment; and electricity distribution and communication network products to electricity network operators, contractors, wholesalers, railway companies, industrial customers, and hospitals. Further, the company produces and sells solutions and systems primarily for the forest, special vehicles, mechanical, and waste/recycling industries, as well as provides hydraulic solutions. Additionally, it provides process components, equipment, and systems for creating and processing flows; provides emission control products; and markets and sells instruments and valves for regulating and monitoring pressure, levels, flows, and energy. The company was founded in 1906 and is based in Stockholm, Sweden.

How the Company Makes Money

Addtech generates revenue primarily through the sale of technology products and services across its various business segments. The company operates a B2B model, where it supplies components, systems, and services to a wide range of industries, including manufacturing, healthcare, and transportation. Key revenue streams include direct sales of industrial components, consulting services for energy efficiency, and maintenance contracts for medical technology equipment. Addtech also benefits from strategic partnerships with global manufacturers and technology providers, allowing it to offer a comprehensive range of high-value products and solutions. Additionally, the company's focus on innovation and sustainability helps to attract new customers and maintain long-term relationships with existing clients, contributing significantly to its earnings.

Addtech AB Class B Financial Statement Overview

Summary

Strong TTM revenue growth (~33%) with healthy and improving profitability (gross ~33%, operating ~13%, net ~9%) and robust free-cash-flow conversion vs net income (~0.97x). Balance sheet is solid with strong ROE (~30%), but leverage is still meaningful (~0.83x debt/equity) and cash conversion vs EBIT is weaker (~0.61x), which can add volatility.

Income Statement

TTM (Trailing-Twelve-Months) results show strong momentum, with revenue up ~33% versus the last annual period and solid profitability (gross margin ~33%, operating margin ~13%, net margin ~9%). Margins have generally improved over the last several years alongside steady revenue expansion, indicating good pricing discipline and operating leverage. The main watch-out is that growth has been somewhat uneven year to year (including a dip in 2021), so sustaining the current pace is the key swing factor.

Balance Sheet

Leverage looks manageable for a distribution business, with debt running at ~0.83x equity in TTM (Trailing-Twelve-Months), improved versus the most recent annual level (~0.93x). Equity has grown alongside assets, and returns on equity are strong (~30% TTM), suggesting efficient capital use. The trade-off is that leverage remains meaningful (not a low-debt profile), so the balance sheet is less cushioned if the cycle turns or acquisition-driven growth slows.

Cash Flow

Cash generation is a clear strength: free cash flow is nearly matching net income in TTM (Trailing-Twelve-Months) (~0.97x), and free cash flow is up sharply versus the prior period (strong growth rate reported). Operating cash flow and free cash flow levels are consistently positive across the history provided. The key weakness is that operating cash flow has covered only a portion of EBIT (coverage ~0.61x TTM), implying working-capital or cash conversion friction that could create period-to-period volatility even when earnings are strong.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	22.59B	21.80B	20.02B	18.71B	14.04B	11.34B
Gross Profit	7.40B	6.99B	6.35B	5.62B	4.32B	3.47B
EBITDA	3.24B	2.76B	3.27B	2.84B	2.07B	1.50B
Net Income	2.07B	1.89B	1.63B	1.50B	1.07B	706.00M
Balance Sheet
Total Assets	18.36B	18.51B	16.66B	15.27B	12.43B	9.81B
Cash, Cash Equivalents and Short-Term Investments	1.22B	1.17B	798.00M	606.00M	437.00M	420.00M
Total Debt	5.91B	6.19B	5.22B	4.73B	4.18B	3.22B
Total Liabilities	10.80B	11.45B	10.18B	9.70B	8.17B	6.36B
Stockholders Equity	7.12B	6.63B	5.97B	5.18B	3.93B	3.22B
Cash Flow
Free Cash Flow	2.90B	2.71B	2.39B	1.71B	995.00M	1.41B
Operating Cash Flow	3.00B	2.71B	2.58B	1.91B	1.12B	1.50B
Investing Cash Flow	-1.05B	-1.80B	-1.48B	-1.39B	-1.25B	-1.30B
Financing Cash Flow	-1.71B	-474.00M	-922.00M	-371.00M	147.00M	-138.00M

Addtech AB Class B Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 317.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ADDT.B, the sentiment is Neutral. The current price of 317.4 is below the 20-day moving average (MA) of 321.15, above the 50-day MA of 315.97, and below the 200-day MA of 321.67, indicating a neutral trend. The MACD of 2.83 indicates Positive momentum. The RSI at 50.54 is Neutral, neither overbought nor oversold. The STOCH value of 28.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:ADDT.B.

Addtech AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADDT.B	74 Outperform	kr84.49B	42.82	30.33%	0.98%	9.24%	15.27%
OEM.B	69 Neutral	kr17.71B	34.09	25.27%	1.22%	3.19%	4.60%
BUFAB	68 Neutral	kr20.84B	30.46	15.33%	1.03%	-1.37%	14.78%
SWEC.B	65 Neutral	kr50.48B	24.43	18.65%	2.20%	2.79%	14.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
INDT	59 Neutral	kr81.39B	34.20	16.43%	1.26%	0.97%	-2.09%
BEIJ.B	57 Neutral	kr67.97B	32.51	11.04%	0.95%	9.08%	-3.36%

Addtech AB Class B Corporate Events

Addtech boosts maritime electrification portfolio with acquisition of Germany’s RAMME

Addtech’s Electrification business area has agreed to acquire 100% of RAMME Electric Machines GmbH, a German manufacturer of electric motors and generators for maritime electrification, specializing in propulsion, dynamic positioning and hybrid operation for medium-sized specialized vessels, with 156 employees and annual turnover of about EUR 38 million. The deal, which will place RAMME in Addtech’s Mobility business unit and is subject to competition authority approval, is intended to strengthen Addtech’s position in high-power electric drivetrains and maritime electrification, support RAMME’s growth ambitions, and is expected to have a marginally positive impact on Addtech’s earnings per share in the current financial year once closed, targeted by the end of February 2026.

The most recent analyst rating on ($SE:ADDT.B) stock is a Buy with a SEK320.00 price target. To see the full list of analyst forecasts on Addtech AB Class B stock, see the SE:ADDT.B Stock Forecast page.

Addtech boosts emission control offering with acquisition of Norway’s Purenviro

Addtech’s Process business area has agreed to acquire 100% of Norwegian company Purenviro AS, which specializes in customized systems and services for treating environmentally harmful and odorous gases for customers in the energy, wastewater treatment, mining and food industries. Based in Porsgrunn with seven employees and annual turnover of about NOK 55 million, Purenviro will be integrated into Addtech’s ITEK AS operations within the Emission Control business unit, with closing slated for early January 2026 and the deal expected to have a marginally positive effect on Addtech’s earnings per share in the current financial year.

The most recent analyst rating on ($SE:ADDT.B) stock is a Buy with a SEK380.00 price target. To see the full list of analyst forecasts on Addtech AB Class B stock, see the SE:ADDT.B Stock Forecast page.

Addtech’s Strategic Acquisitions in Holland to Enhance Motion & Drives Operations

Addtech Automation, a division of Addtech Group, has acquired Dutch companies BCK Holland B.V. and Kramer & Duyvis B.V., specialized in conveyor systems for packaging, food & beverage, and mechanical industries. These acquisitions will bolster Addtech’s Motion & Drives operations and are expected to have a marginally positive impact on earnings per share during the current financial year.

The most recent analyst rating on ($SE:ADDT.B) stock is a Buy with a SEK380.00 price target. To see the full list of analyst forecasts on Addtech AB Class B stock, see the SE:ADDT.B Stock Forecast page.

Addtech Announces Organizational Restructuring to Capture Growth Opportunities

Addtech has announced a reorganization effective from October 1, 2025, which includes the establishment of a sixth business area and the addition of new business units. This restructuring aims to enhance the company’s ability to capture future growth opportunities both organically and through acquisitions. The company has restated figures for the past 10 quarters to reflect this new organizational structure, and these figures are available on their website. The first interim report under this new structure will be published on February 5, 2026.

The most recent analyst rating on ($SE:ADDT.B) stock is a Buy with a SEK380.00 price target. To see the full list of analyst forecasts on Addtech AB Class B stock, see the SE:ADDT.B Stock Forecast page.

Addtech Expands IT & Sensors Unit with Cubro Acquisition

Addtech has announced the acquisition of 80% of Cubro Acronet GesmbH, a leading provider of datacom network monitoring, security, and analysis solutions. This acquisition, which will be finalized in January 2026, is expected to enhance Addtech’s IT & Sensors business unit and have a marginally positive impact on the company’s earnings per share for the current financial year.

The most recent analyst rating on ($SE:ADDT.B) stock is a Buy with a SEK346.00 price target. To see the full list of analyst forecasts on Addtech AB Class B stock, see the SE:ADDT.B Stock Forecast page.