Addnode Group AB Class B (SE:ANOD.B)
:ANOD.B
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Addnode Group AB Class B
(ANOD.B)
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Rating:55Neutral
Price Target:
kr66.00
▼(-29.11% Downside)
Action:ReiteratedDate:02/05/26
The score is driven primarily by mixed financial performance: strong multi-year expansion and decent margins are offset by higher leverage and materially weaker recent cash conversion. Technicals are a meaningful headwind with a clear downtrend despite oversold readings. Valuation is moderately negative due to a high P/E and modest dividend yield.
Positive Factors
Recurring software and services revenue mix
A high share of recurring revenue from subscriptions, maintenance and long-term support gives predictable cash flows and revenue visibility over multi‑month horizons. Coupled with services revenue, this mix supports retention, cross‑sell opportunities and steadier margins versus one‑time license sales.
Negative Factors
Material increase in leverage
A sharp step‑up in leverage meaningfully reduces financial flexibility and raises sensitivity to earnings or cash‑flow shocks. With higher net debt relative to equity, the firm faces greater interest and refinancing risk and less headroom for acquisitions or discretionary investments over the next few quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring software and services revenue mix
A high share of recurring revenue from subscriptions, maintenance and long-term support gives predictable cash flows and revenue visibility over multi‑month horizons. Coupled with services revenue, this mix supports retention, cross‑sell opportunities and steadier margins versus one‑time license sales.
Read all positive factors
Addnode Group AB Class B (ANOD.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr8.79B
Dividend Yield1.2%
Average Volume (3M)144.86K
Price to Earnings (P/E)33.8
Beta (1Y)0.48
Revenue Growth-31.59%
EPS Growth0.21%
CountrySE
Employees2,710
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)1.01
Shares Outstanding132,603,970
10 Day Avg. Volume104,838
30 Day Avg. Volume144,859
Financial Highlights & Ratios
PEG Ratio-6.80
Price to Book (P/B)4.75
Price to Sales (P/S)2.24
P/FCF Ratio84.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.96
Revenue Forecast (FY)kr6.23B
Addnode Group AB Class B Business Overview & Revenue Model
Company Description
Addnode Group AB (publ) provides software and services for the design, construction, and product data information. It operates through Design Management, Product Lifecycle Management (PLM), and Process Management divisions. The Design Management d...
How the Company Makes Money
Addnode Group makes money primarily by selling software and related services through its operating divisions. A major revenue stream comes from software: (1) distributing and reselling third-party software licenses (notably in design/engineering a...
Addnode Group AB Class B Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
49
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.79B | 7.76B | 7.41B | 6.22B | 4.08B |
| Gross Profit | 607.00M | 4.20B | 511.00M | 1.23B | 831.00M |
| EBITDA | 1.12B | 1.08B | 724.00M | 771.00M | 487.00M |
| Net Income | 384.00M | 402.00M | 279.00M | 382.00M | 223.00M |
Balance Sheet | |||||
| Total Assets | 9.80B | 8.58B | 7.20B | 6.20B | 4.32B |
| Cash, Cash Equivalents and Short-Term Investments | 625.00M | 674.00M | 667.00M | 600.00M | 406.00M |
| Total Debt | 3.32B | 1.73B | 1.67B | 1.07B | 776.00M |
| Total Liabilities | 7.07B | 6.12B | 5.08B | 4.19B | 2.63B |
| Stockholders Equity | 2.73B | 2.46B | 2.12B | 2.00B | 1.69B |
Cash Flow | |||||
| Free Cash Flow | 153.00M | 491.00M | 283.00M | 585.00M | 329.00M |
| Operating Cash Flow | 430.00M | 701.00M | 485.00M | 714.00M | 437.00M |
| Investing Cash Flow | -1.69B | -532.00M | -672.00M | -490.00M | -398.00M |
| Financing Cash Flow | 1.29B | -211.00M | 276.00M | -63.00M | -305.00M |
Addnode Group AB Class B Technical Analysis
Negative
93.10
Price Trends
71.33
Negative
84.13
Negative
97.65
Negative
Market Momentum
-1.83
Negative
41.00
Neutral
63.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ANOD.B, the sentiment is Negative. The current price of 93.1 is above the 20-day moving average (MA) of 65.32, above the 50-day MA of 71.33, and below the 200-day MA of 97.65, indicating a bearish trend. The MACD of -1.83 indicates Negative momentum. The RSI at 41.00 is Neutral, neither overbought nor oversold. The STOCH value of 63.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ANOD.B.
Addnode Group AB Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr1.40B | 20.39 | 15.90% | 1.13% | 10.92% | -2.56% | |
62 Neutral | kr2.63B | 24.25 | 14.35% | 2.13% | -4.36% | -31.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | kr1.16B | 17.36 | 23.47% | 6.29% | 4.00% | -12.08% | |
58 Neutral | kr2.85B | -11.31 | 2.38% | 2.03% | -9.85% | -38.24% | |
55 Neutral | kr8.79B | 33.80 | 15.03% | 1.20% | -31.59% | 0.21% | |
50 Neutral | kr1.83B | -22.97 | ― | ― | -5.00% | -1757.14% |
* Technology Sector Average
SE:ANOD.B
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Addnode Group AB Class B Corporate Events
Addnode Group Calls 2026 AGM and Enables Postal Voting for Shareholders
Apr 1, 2026
Addnode Group AB has called its Annual General Meeting for 7 May 2026 in Stockholm, with shareholder registration starting half an hour before the meeting. Shareholders must be recorded in the Euroclear Sweden share register by 28 April and notify...
Addnode Group Reclassifies Tribia to Process Management and Updates 2025 Figures
Mar 27, 2026
Addnode Group is shifting its Norwegian subsidiary Tribia from the Design Management Division to the Process Management Division as of 1 January 2026, aligning the business with units that deliver digital solutions for efficient case management an...
Addnode Group Ends 2025 With Record Quarterly Earnings and Acquisition-Driven Expansion
Feb 3, 2026
Addnode Group closed 2025 with modest top-line growth but stronger profitability, supported by acquisitions and cost-efficiency measures. Full-year net sales rose to SEK 5,793 million with a slightly higher EBITA margin of 15.6 percent, while four...
Addnode Group Schedules Year-End 2025 Results Presentation for February 3
Jan 16, 2026
Addnode Group has invited investors, analysts and media to a presentation of its year-end report for January–December 2025, to be held on 3 February 2026 at 09:30 CET, with President and CEO Johan Andersson and CFO Kristina Elfström Mac...
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.