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Attendo AB (SE:ATT)
:ATT

Attendo AB (ATT) AI Stock Analysis

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SE:ATT

Attendo AB

(ATT)

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Neutral 65 (OpenAI - 5.2)
Rating:65Neutral
Price Target:
kr108.00
▲(35.51% Upside)
Action:DowngradedDate:02/07/26
The score is driven primarily by mixed financial fundamentals: strong and improving cash flow and sustained profitability are offset by elevated balance-sheet risk from sharply higher leverage in 2025 and recent margin inconsistency. Technicals are supportive due to a strong uptrend, but overbought readings temper the outlook. Valuation appears roughly fair with a modest dividend yield.
Positive Factors
Strong cash generation
Multi-year pattern of positive operating and free cash flow, including a sizable step-up by 2023–2025, provides durable internal funding for operations, capex and working capital. This strengthens the company's ability to service obligations, invest in quality and support strategic initiatives over months.
Recovered profitability
The firm moved from prior loss years to sustained profitability (net income positive since 2021) with margin expansion through 2024. This structural recovery indicates improved operating leverage and cost control, supporting durable earnings generation despite isolated 2025 margin pressure.
Leading market position & stable demand
As a leading provider in Sweden and Finland with services tied to municipal/regional contracts and partnerships, Attendo benefits from predictable demand and sticky client flows. Scale and established local relationships create durable competitive advantages in care delivery and contract access.
Negative Factors
Elevated leverage
A materially higher debt load in 2025 and very high debt-to-equity constrain financial flexibility, heighten refinancing and interest-rate sensitivity, and reduce resilience to shocks. Over the next 2–6 months this aggressive capital structure limits options for investment or cushioning margin volatility.
Stalled revenue and margin deterioration
Revenue plateaued in 2025 while gross margin showed a sharp deterioration, signaling cost pressures or mix changes that challenge margin sustainability. Without structural cost improvements, this trend could erode operating leverage and cash generation durability over the medium term.
Dependence on public funding/contracts
Heavy reliance on municipal and regional contracting creates exposure to policy, budget cycles and procurement changes. Contract renewals or public budget constraints could materially affect revenue visibility and utilization levels, posing a persistent strategic and execution risk.

Attendo AB (ATT) vs. iShares MSCI Sweden ETF (EWD)

Attendo AB Business Overview & Revenue Model

Company DescriptionAttendo AB (publ) provides financed care services in Sweden, Finland, Norway, and Denmark. The company offers care services for older people in nursing homes and home care. It also provides disabilities care services for people with disabilities, such as homes and supportive housing, daily activities, respite care, and short-term accommodation; and social psychiatry, and emergency shelters and family support homes for individuals and family. The company also offers social-worker supported foster care, crisis and emergency accommodation, HVB-homes, addiction care, and supportive housing services. It also offers home care services based on outsourcing contracts. Attendo AB (publ) was founded in 1985 and is headquartered in Danderyd, Sweden.
How the Company Makes MoneyAttendo AB generates revenue primarily through government funding and private payments for its care services. The company's revenue model is largely dependent on contracts with municipalities and regions, which provide funding for care services based on the number of clients served and the level of care required. Key revenue streams include residential care fees, home care service fees, and specialized healthcare services. Additionally, Attendo benefits from partnerships with local authorities and healthcare providers, allowing it to expand its service offerings and ensure a steady flow of clients. The company also leverages economies of scale and operational efficiencies to maintain profitability while investing in quality improvement initiatives.

Attendo AB Financial Statement Overview

Summary
Profitability has improved versus earlier loss years and cash generation is consistently strong with rising free cash flow, but the balance sheet is a major constraint due to sharply higher leverage in 2025 and very high debt relative to equity. Revenue growth also stalled in 2025 and gross margin deteriorated, adding near-term quality concerns.
Income Statement
58
Neutral
Revenue expanded strongly from 2020–2024, but growth stalled in 2025 (roughly flat year over year). Profitability improved meaningfully versus earlier-loss years, with net income positive since 2021 and margins rising through 2024; however, 2025 shows a sharp deterioration in gross margin versus prior years (despite higher operating and EBITDA margins), which raises questions about cost pressure or comparability. Overall, the income statement reflects a business that has regained profitability but with recent inconsistency in underlying margin quality.
Balance Sheet
35
Negative
Leverage is the key constraint: debt increased materially in 2025 and debt relative to equity moved to a very high level, limiting financial flexibility. Equity has been relatively stable, and returns on equity improved from negative levels in 2020–2022 to healthier positive levels in 2023–2025, but the capital structure remains aggressive and heightens refinancing and interest-rate sensitivity. Asset levels are steady, yet the balance sheet risk profile is elevated due to the debt load.
Cash Flow
72
Positive
Cash generation is a clear strength: operating cash flow and free cash flow are consistently positive across the period, with a sizable step-up by 2023–2025 and strong free cash flow growth in 2023 and 2025. Free cash flow is high relative to reported earnings in most years (supporting earnings quality), though the 2025 cash-flow-to-earnings ratios provided appear unavailable/zeroed, limiting comparability for the latest year. Even so, the multi-year pattern suggests good cash conversion and solid capacity to fund operations and obligations.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue18.99B18.98B17.29B14.50B12.87B
Gross Profit1.74B8.20B5.92B1.52B1.42B
EBITDA3.87B3.44B3.05B2.18B1.99B
Net Income813.00M450.00M376.00M-45.00M56.00M
Balance Sheet
Total Assets25.05B25.24B22.89B22.32B21.08B
Cash, Cash Equivalents and Short-Term Investments1.27B821.00M922.00M507.00M513.00M
Total Debt28.23B16.74B14.75B14.80B13.88B
Total Liabilities19.60B19.91B17.53B17.32B16.12B
Stockholders Equity5.45B5.33B5.36B5.00B4.93B
Cash Flow
Free Cash Flow2.65B2.26B2.08B1.13B1.21B
Operating Cash Flow2.85B2.46B2.23B1.33B1.38B
Investing Cash Flow-330.00M-1.24B-185.00M-390.00M-413.00M
Financing Cash Flow-2.04B-1.33B-1.63B-970.00M-1.18B

Attendo AB Technical Analysis

Technical Analysis Sentiment
Positive
Last Price79.70
Price Trends
50DMA
89.63
Positive
100DMA
83.39
Positive
200DMA
74.41
Positive
Market Momentum
MACD
3.49
Positive
RSI
65.18
Neutral
STOCH
56.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ATT, the sentiment is Positive. The current price of 79.7 is below the 20-day moving average (MA) of 98.58, below the 50-day MA of 89.63, and above the 200-day MA of 74.41, indicating a bullish trend. The MACD of 3.49 indicates Positive momentum. The RSI at 65.18 is Neutral, neither overbought nor oversold. The STOCH value of 56.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ATT.

Attendo AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
kr1.62B23.9213.40%-63.89%
65
Neutral
kr15.22B18.541.47%2.96%73.50%
64
Neutral
kr7.18B31.6315.16%11.30%-14.49%
63
Neutral
kr9.77B15.4913.39%1.56%10.83%16.24%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
54
Neutral
kr1.59B46.21
52
Neutral
kr2.25B9.207.53%2.01%2.11%92.69%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:ATT
Attendo AB
104.20
42.90
69.97%
SE:HUM
Humana AB
45.60
-0.23
-0.51%
SE:AMBEA
Ambea AB
130.00
21.16
19.44%
SE:MCAP
MedCap AB
489.50
102.00
26.32%
SE:SUS
Surgical Science Sweden AB
32.30
-125.20
-79.49%
SE:CARA
Carasent AB
24.10
0.16
0.67%

Attendo AB Corporate Events

Attendo Delivers Strong Q4, Lifts Profitability and Sets Higher EPS Target for 2028
Feb 5, 2026

Attendo reported a strong fourth quarter of 2025, with lease-adjusted EBITA rising 53 percent to SEK 343 million despite a 2 percent decline in reported net sales to SEK 4.8 billion, reflecting 5 percent underlying growth when excluding ended contracts, divestments and currency effects. Higher occupancy, record-high satisfaction among relatives, continued robust performance in Finland and improving margins in Scandinavia lifted profitability, pushing rolling 12-month adjusted EPS to SEK 6.03—already above its 2026 target—and generating SEK 1,041 million in free cash flow to fund around 800 new care places under construction; the company also raised its longer-term ambition with a new adjusted EPS target of at least SEK 9 by 2028.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo to Present Updated Financial Targets and Strategy at March Capital Markets Day 2026
Feb 5, 2026

Attendo AB has scheduled a digital Capital Markets Day for 17 March 2026, aimed at institutional investors, analysts and financial media, where senior management will present the company’s updated financial targets and outline its strategic priorities for the 2026–2028 period. The event, which will be held in English and include a Q&A session, underscores Attendo’s efforts to increase transparency around its financial outlook and strategic direction, offering stakeholders a clearer view of how the Nordic care provider intends to position itself and allocate resources in the coming years.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Launches SEK 200 Million Share Buyback to Adjust Capital Structure
Feb 5, 2026

Attendo’s board has resolved to initiate a share buyback programme of up to SEK 200 million under its 2025 AGM mandate, aiming to optimize the company’s capital structure and to secure shares needed for delivery under ongoing incentive programmes. The buybacks, to be executed in cash on Nasdaq Stockholm by Carnegie Investment Bank between 11 February and 5 May 2026, will be conducted within regulatory safe-harbour rules and cannot raise Attendo’s treasury shareholding above 10 percent of total shares, a move that may support capital efficiency and shareholder value while modestly increasing the proportion of shares held by the company beyond the 6,196,600 already in treasury.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Steps Up Share Buybacks, Nears SEK 200m Programme Limit
Jan 27, 2026

Attendo AB has continued to execute its share buyback programme, repurchasing 289,177 shares on Nasdaq Stockholm during the period 19–23 January 2026 for a total of about SEK 24.8 million at an average price of SEK 85.69 per share. The buybacks form part of a previously announced programme of up to SEK 200 million, bringing total repurchases under the programme to 1,991,577 shares and SEK 163.8 million, and increasing Attendo’s treasury holding to 5,793,777 shares, a move that effectively reduces the free float and can support the share price while signalling management’s confidence in the company’s long-term prospects.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Sets Date for Year-End 2025 Results and Webcast Presentation
Jan 26, 2026

Attendo AB has scheduled the release of its year-end and fourth-quarter 2025 report for 5 February 2025 at 08:00 CET, followed by a webcast presentation at 10:00 CET hosted in English by CEO Martin Tivéus and CFO Mikael Malmgren. Analysts and investors will be able to follow the webcast online and participate in a Q&A session via call-in, with the quarterly report and related materials to be published on the company’s website, underscoring Attendo’s efforts to maintain transparent communication with the capital market and other stakeholders about its performance in the Nordic care sector.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Joins SBTi and Commits to Science-Based Climate Targets
Jan 13, 2026

Attendo has joined the Science Based Targets initiative and committed to setting science-based climate targets within the next two years, adding both long- and short-term emissions goals to its existing long-term objectives. Building on years of measuring social sustainability KPIs and reporting its carbon footprint, the company is now formalising its climate strategy in line with the Paris Agreement, tightening cooperation with suppliers and property owners to reduce emissions and signalling to stakeholders that environmental performance will be a core pillar of its growth and profitability agenda.

The most recent analyst rating on (SE:ATT) stock is a Hold with a SEK85.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Continues Nordic Care Group Share Buybacks, Now Holding Over 5.1 Million Own Shares
Jan 7, 2026

Attendo AB has continued to execute its share repurchase program, buying back 95,089 shares on Nasdaq Stockholm between 29 December 2025 and 2 January 2026 for a total of about SEK 7.8 million at a weighted average price of SEK 81.53. These transactions bring total buybacks under the current program to 1,364,250 shares worth roughly SEK 110.8 million, leaving Attendo holding 5,166,450 of its own shares and reducing the number of outstanding shares to 146,029,676, a capital allocation move that can support earnings per share and signal confidence to investors while being conducted under EU market abuse regulations.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK91.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Expands Share Buyback, Lifts Treasury Holdings Past 5 Million Shares
Dec 30, 2025

Attendo AB continued to execute its share repurchase program in week 52 of 2025, buying back 68,303 shares on Nasdaq Stockholm between 22 and 23 December for a total of about SEK 5.6 million at an average price of SEK 81.58 per share. The transactions form part of a previously announced buyback mandate of up to SEK 200 million, of which approximately SEK 103 million has been utilized so far, bringing Attendo’s treasury shareholding to 5,071,361 shares and reducing the number of outstanding shares to 146,124,765, a move that can support earnings per share and signal confidence in the company’s financial position to investors.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK91.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo Steps Up Share Buybacks, Now Holds Over 5 Million Own Shares
Dec 23, 2025

Attendo AB has continued to execute its ongoing share buyback programme, repurchasing 130,828 shares on Nasdaq Stockholm during the week of 15–19 December 2025 for a total of about SEK 10.5 million at an average price of SEK 80.13 per share. The purchases form part of a broader repurchase mandate of up to SEK 200 million, under which Attendo has so far acquired 1,200,858 shares for approximately SEK 97.5 million, bringing its treasury holding to 5,003,058 shares and reducing the number of outstanding shares to 146,193,068, a move that can support earnings per share and signal management’s confidence in the company’s valuation.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK91.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo AB Executes Share Repurchase as Part of Strategic Program
Dec 16, 2025

Attendo AB announced the repurchase of 126,005 of its own shares as part of a SEK 200 million repurchase program initiated by the Board. This move, executed on Nasdaq Stockholm, is part of a broader strategy to enhance shareholder value and is conducted under the Market Abuse Regulation. The company’s total holding of own shares now amounts to 4,872,230, with the program running until February 2025.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK91.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo AB Advances Share Repurchase Program
Dec 9, 2025

Attendo AB has repurchased 195,218 of its own shares between December 1 and December 5, 2025, as part of a SEK 200 million repurchase program announced in October 2025. This initiative, conducted under EU regulations, aims to optimize the company’s capital structure and potentially enhance shareholder value, with the total number of shares now standing at 151,196,126.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK91.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo AB Executes Share Repurchase Program
Nov 25, 2025

Attendo AB has repurchased 205,241 of its own shares as part of a SEK 200 million repurchase program initiated by the Board. The program, conducted under EU regulations, aims to strengthen the company’s financial position and market presence, with the transactions executed on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK86.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

Attendo AB Advances Share Repurchase Program
Nov 18, 2025

Attendo AB has repurchased a total of 179,641 shares as part of its SEK 200 million share repurchase program, which is in compliance with EU regulations. This initiative, executed by Skandinaviska Enskilda Banken AB on Nasdaq Stockholm, reflects Attendo’s strategic financial management and may impact its market positioning by potentially increasing shareholder value.

The most recent analyst rating on (SE:ATT) stock is a Buy with a SEK86.00 price target. To see the full list of analyst forecasts on Attendo AB stock, see the SE:ATT Stock Forecast page.

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: Feb 07, 2026