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B3 Consulting Group AB
(B3)
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Rating:47Neutral
Price Target:
kr20.50
▼(-52.87% Downside)
Action:Reiterated
Date:07/24/26
The score is held down primarily by materially weakened financial performance (sharp TTM revenue decline, very thin margins, and elevated leverage). Technicals add further pressure with a clear downtrend (price below key moving averages and negative MACD). Valuation is not supportive given the high P/E and no dividend yield data, limiting upside without a sustained earnings and margin recovery.
Positive Factors
Positive free cash flow generation
Consistent positive operating and free cash flow, with TTM free cash flow growth near 31.6% and FCF roughly aligned with net income (~0.96), gives the firm durable internal funding to meet obligations, invest selectively, and support turnaround initiatives without immediate reliance on external capital.
Negative Factors
Severe TTM revenue contraction
An almost 90% TTM revenue decline is a structural red flag: it erodes client relationships, reduces economies of scale, and signals either major contract losses or project timing shifts. Restoring top-line scale will be essential for margin recovery and requires durable new sales or renewed frameworks.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive free cash flow generation
Consistent positive operating and free cash flow, with TTM free cash flow growth near 31.6% and FCF roughly aligned with net income (~0.96), gives the firm durable internal funding to meet obligations, invest selectively, and support turnaround initiatives without immediate reliance on external capital.
Read all positive factors
B3 Consulting Group AB (B3) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr183.88M
Dividend YieldN/A
Average Volume (3M)12.00K
Price to Earnings (P/E)41.8
Beta (1Y)0.38
Revenue Growth-3.37%
EPS Growth-94.71%
CountrySE
Employees874
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.74
Shares Outstanding9,478,479
10 Day Avg. Volume12,401
30 Day Avg. Volume12,003
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)1.81
Price to Sales (P/S)0.32
P/FCF Ratio10.45
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)1.69
Revenue Forecast (FY)kr1.18B
B3 Consulting Group AB Business Overview & Revenue Model
Company Description
Operating out of Stockholm, Sweden, B3 Consulting Group AB (publ) specializes in delivering IT and management advisory services throughout Sweden. The company, which was founded in 2003, underwent a name change in May 2018, transitioning from its ...
How the Company Makes Money
B3 primarily makes money by selling professional consulting services (time-and-materials and/or fixed-scope project work) to organizations that need IT and business transformation capabilities. The core revenue stream is consultancy fees billed fo...
B3 Consulting Group AB Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.18B | 1.21B | 1.13B | 1.14B | 1.15B | 921.89M |
| Gross Profit | 41.40M | 301.60M | 286.00M | 180.60M | 358.18M | 146.28M |
| EBITDA | 77.00M | 78.60M | 141.90M | 113.40M | 158.34M | 88.06M |
| Net Income | 4.40M | 10.90M | 83.30M | 60.50M | 103.30M | 45.29M |
Balance Sheet | ||||||
| Total Assets | 873.10M | 835.80M | 885.30M | 632.60M | 622.98M | 559.72M |
| Cash, Cash Equivalents and Short-Term Investments | 84.80M | 63.50M | 77.70M | 48.90M | 83.39M | 54.24M |
| Total Debt | 313.50M | 328.50M | 303.00M | 171.00M | 100.03M | 104.52M |
| Total Liabilities | 590.90M | 576.00M | 623.10M | 452.40M | 395.03M | 365.11M |
| Stockholders Equity | 230.20M | 212.70M | 232.50M | 156.70M | 194.95M | 174.32M |
Cash Flow | ||||||
| Free Cash Flow | 41.20M | 36.90M | -19.10M | 63.20M | 150.93M | 75.50M |
| Operating Cash Flow | 42.30M | 37.90M | -14.60M | 67.80M | 151.71M | 77.66M |
| Investing Cash Flow | -16.60M | -70.30M | -18.50M | -2.10M | -4.47M | -7.36M |
| Financing Cash Flow | -19.00M | 19.20M | 61.70M | -100.20M | -118.09M | -62.45M |
B3 Consulting Group AB Technical Analysis
Neutral
43.50
Price Trends
21.13
Negative
26.54
Negative
33.67
Negative
Market Momentum
-0.45
Negative
49.02
Neutral
47.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:B3, the sentiment is Neutral. The current price of 43.5 is above the 20-day moving average (MA) of 19.86, above the 50-day MA of 21.13, and above the 200-day MA of 33.67, indicating a neutral trend. The MACD of -0.45 indicates Negative momentum. The RSI at 49.02 is Neutral, neither overbought nor oversold. The STOCH value of 47.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:B3.
B3 Consulting Group AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | kr1.18B | 15.77 | 26.28% | 6.15% | 13.11% | -7.85% | |
72 Outperform | kr727.07M | 15.78 | ― | 4.47% | -0.05% | -5.66% | |
71 Outperform | kr1.40B | 16.17 | 16.46% | 1.13% | 7.42% | 44.33% | |
65 Neutral | kr3.28B | 16.52 | 17.78% | 2.17% | 0.67% | 15.28% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | kr2.54B | -8.71 | -7.72% | 2.72% | -7.52% | -458.49% | |
47 Neutral | kr183.88M | 41.77 | 2.03% | ― | -3.37% | -94.71% |
* Technology Sector Average
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B3 Consulting Group AB Corporate Events
B3 Consulting to Redeem SEK 250 Million Bonds After New Issue Settlement
Jul 16, 2026
B3 Consulting Group has confirmed that the condition for early redemption of its SEK 250 million senior secured bonds has been met following the successful settlement of a new senior secured bond issue. With the new bonds now issued, the company w...
B3 Consulting Group Refinances Debt With New SEK 250m Bond Issue
Jul 2, 2026
B3 Consulting Group AB has strengthened its financing structure by issuing new senior secured floating rate bonds with a three-year tenor, raising SEK 250 million within a SEK 300 million framework. The new bonds, carrying interest at three-month ...
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.