Bergman & Beving AB Class B (BERG.B) AI Stock Analysis

• Market Cap: kr7.29B
• Dividend Yield: 1.25%
• Average Volume (3M): 25.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: 4.65%
• EPS Growth: -136.09%
• Country: SE
• Employees: 1,401
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 2.19
• Shares Outstanding: 26,375,760
• 10 Day Avg. Volume: 20,807
• 30 Day Avg. Volume: 25,807
• PEG Ratio: 1.17
• Price to Book (P/B): 4.14
• Price to Sales (P/S): 1.56
• P/FCF Ratio: 17.38
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 8.69
• Revenue Forecast (FY): kr4.95B

• Rating: 45 Neutral
• Price Target: kr281.00 ▼(-8.62% Downside)
• Action: Reiterated Date: 02/06/26
• Date: Action: Reiterated 02/06/26

The score is held back primarily by weakening financial performance (revenue decline and net losses) and increased leverage, with only partial support from still-positive free cash flow. Technical indicators also point to a bearish trend (price below key moving averages and negative MACD), while valuation support is limited due to the negative P/E and a modest dividend yield.

Positive Factors

Cash generation

Consistent positive operating and free cash flow provide a durable liquidity buffer and funding source. Over a 2–6 month horizon this supports working capital needs, services debt, funds selective acquisitions or dividends, and offsets temporary earnings weakness.

Niche portfolio business model

A portfolio of niche, B2B subsidiaries with branded products reduces single-market dependence and supports pricing power. This structure enables operational tailoring, recurring wholesale/professional demand and acquisitive growth, sustaining revenues and margins long term.

Underlying EBITDA margin

A mid‑teens EBITDA margin indicates resilient core operating profitability despite top‑line pressure. This suggests structural cost control and margin protection that can convert to improved net results as revenues stabilize or non‑operating headwinds abate.

Negative Factors

Revenue decline and net loss

Falling revenues and a swing to net losses weaken sustainable earnings power and reduce reinvestment capacity. Over several months this can erode scale economics, strain subsidiary performance and force margin tradeoffs or restructuring to restore profitability.

Rising leverage

A material rise in leverage reduces financial flexibility and raises interest/service risk. If revenue weakness persists, higher debt relative to equity constrains M&A optionality, limits buffer for cyclical downturns and increases likelihood of balance sheet strain.

Declining cash conversion

A sharp drop in free cash flow and low cash conversion indicate earnings are converting to cash less efficiently. Persisting this trend reduces the company's ability to fund operations, service higher debt load, and sustain investments without external financing.

Bergman & Beving AB Class B Business Overview & Revenue Model

Company Description

Bergman & Beving AB (publ) acquires, designs, develops, and provides products and brands for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally. The company operates through three divisions: Building Materials, Workplace Safety, and Tools & Consumables. The Building Materials division develops and markets a range of products and solutions for fastening elements, fire protection, and tilers and bricklaying applications under the ESSVE, H&H, KGC, BVS, and Fireseal brands. The Workplace Safety division develops products and services in workplace safety under the Zekler, Guide, L.Brador, Cresto, Arbesko, MoG, RESQ, Systemtext, JO Safety, VIP Safety, and Skydda brands. This division provides workplace signs; protective and work gloves; work wear; personal protective equipment; and eye, ear, breathing, and head protection equipment. The Tools & Consumables division engages in the supply of tools and consumables under the Teng Tools, Mareld, Limit, Germ, Belano Maskin, Lidén Weighing, Miller's, Lindahl & Nermark, and Uveco brands. This division offers machinery, spare parts, and services; oil, grease, and chemical handling products for workshops and industrial customers; scales; measuring tools; conventional machines for wood- and metalwork, as well as accessories and related services; accessories for electrical hand tools; work lightings; locks and hardware fittings; and hand and other tools. The company was formerly known as B&B Tools AB (publ) and changed its name to Bergman & Beving AB (publ) in June 2017. Bergman & Beving AB (publ) was founded in 1906 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Bergman & Beving generates revenue through multiple streams, primarily by selling a diverse range of industrial products and services to businesses in various sectors. The company benefits from its strong distribution network, which allows it to reach a broad customer base effectively. Key revenue streams include sales of tools, equipment, and protective gear, as well as value-added services such as technical support and training. Additionally, strategic partnerships with leading manufacturers enhance its product offerings and market competitiveness. The company's focus on sustainability and innovation also attracts environmentally conscious customers, contributing to its earnings growth.

Bergman & Beving AB Class B Financial Statement Overview

Summary

Income statement is weak (score 38) with TTM revenue down 13.9% and a swing to a net loss (net margin -1.4%), while the balance sheet shows rising leverage (debt-to-equity ~1.45) and negative ROE (-3.6%). Cash flow is a relative strength (score 58) with positive operating cash flow (SEK 447M) and free cash flow (SEK 376M), though both are trending down.

Income Statement

TTM (Trailing-Twelve-Months) results show weakening fundamentals: revenue fell 13.9% and the company posted a net loss (net margin -1.4%) despite maintaining a mid-teens EBITDA margin (~14.6%). Profitability has deteriorated meaningfully versus FY2024–FY2022, when the company generated positive net income and mid-single-digit net margins, indicating pressure from costs, mix, or non-operating items. Strengths include still-positive operating profit and relatively stable EBITDA margin, but the swing to losses and negative growth drive a below-average score.

Balance Sheet

Leverage has risen: debt-to-equity increased from ~0.85 in FY2024 to ~1.45 in TTM (Trailing-Twelve-Months), reducing financial flexibility. Equity remains meaningful (SEK ~1.8B) against total assets (SEK ~6.3B), but returns have turned negative (TTM return on equity -3.6%), reflecting the loss-making period. The balance sheet is not distressed, yet the upward leverage trend and negative returns are clear weaknesses.

Cash Flow

Cash generation remains a relative bright spot: TTM (Trailing-Twelve-Months) operating cash flow is SEK 447M and free cash flow is SEK 376M (solidly positive). However, free cash flow declined sharply versus the prior year (down ~20.7%), and cash conversion is not particularly strong based on the provided coverage indicator (~0.30). Overall, the company is still producing cash despite earnings pressure, but the downtrend tempers the score.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	5.01B	4.97B	4.74B	4.75B	4.57B	4.31B
Gross Profit	1.34B	2.35B	2.27B	2.12B	1.95B	1.74B
EBITDA	731.00M	712.00M	668.00M	570.00M	500.00M	427.00M
Net Income	-68.00M	-52.00M	191.00M	207.00M	200.00M	164.00M
Balance Sheet
Total Assets	6.32B	6.14B	6.06B	5.75B	5.29B	4.94B
Cash, Cash Equivalents and Short-Term Investments	377.00M	348.00M	296.00M	220.00M	182.00M	139.00M
Total Debt	2.62B	2.06B	1.79B	1.75B	1.44B	1.23B
Total Liabilities	4.41B	4.16B	3.85B	3.51B	3.36B	3.23B
Stockholders Equity	1.81B	1.87B	2.11B	2.18B	1.92B	1.70B
Cash Flow
Free Cash Flow	376.00M	446.00M	605.00M	288.00M	174.00M	312.00M
Operating Cash Flow	447.00M	509.00M	663.00M	333.00M	225.00M	383.00M
Investing Cash Flow	-387.00M	-463.00M	-368.00M	-281.00M	-188.00M	-177.00M
Financing Cash Flow	-9.00M	25.00M	-223.00M	-25.00M	1.00M	-147.00M

Bergman & Beving AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 307.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BERG.B, the sentiment is Negative. The current price of 307.5 is above the 20-day moving average (MA) of 279.78, above the 50-day MA of 294.06, and below the 200-day MA of 309.89, indicating a bearish trend. The MACD of -4.27 indicates Negative momentum. The RSI at 41.87 is Neutral, neither overbought nor oversold. The STOCH value of 57.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BERG.B.

Bergman & Beving AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INWI	66 Neutral	kr9.25B	17.98	9.78%	3.37%	3.41%	-1.70%
INSTAL	64 Neutral	kr8.78B	25.44	8.12%	2.67%	-3.68%	-48.79%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
FAG	56 Neutral	kr4.79B	15.11	3.57%	3.46%	-6.23%	-37.00%
VOLO	55 Neutral	kr6.55B	27.53	14.16%	1.91%	9.65%	19.40%
TROAX	50 Neutral	kr5.83B	39.15	12.49%	2.57%	-5.67%	-33.12%
BERG.B	45 Neutral	kr7.29B	-108.16	-3.67%	1.25%	4.65%	-136.09%

Bergman & Beving AB Class B Corporate Events

Bergman & Beving lifts profitability while reshaping portfolio

Third-quarter EBITA climbed 12% to MSEK 135 on an improved 10.7% margin despite flat revenue, with comparable-unit growth returning and strong capital efficiency, while management fine-tuned the portfolio through two UK acquisitions and a January divestment to sharpen its niche focus. Nine-month figures showed steady top-line momentum, resilient adjusted profitability, and solid cash generation as the group restructured into four divisions to support acquisition-led and organic growth ambitions amid a cautiously optimistic 2026 demand outlook.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK265.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.

Bergman & Beving expands fire safety portfolio with acquisition of UK firm A1S

Bergman & Beving has acquired all shares in UK-based A1 Shutters Limited (A1S), a leading supplier of certified fire curtains and fire shutters with 54 employees and annual sales of just over GBP 9 million. The Bolton-based company will be integrated into Bergman & Beving’s Safety Technology division, strengthening the group’s presence in the growing niche market for certified fire curtains, complementing existing operations in Sweden and Norway, and is expected to have a marginally positive impact on earnings per share in the current financial year, while A1S’s long-time principal owner Carl Everest remains as managing director to ensure continuity for customers.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK265.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.

Bergman & Beving Board Member Resigns for Government Role

Bergman & Beving has announced a change to its board of directors following the resignation of board member Charlotte Hansson, who is leaving due to a new role at the Government Offices of Sweden. Hansson, who has served on the board since 2020, is described by chairman Jörgen Wigh as a highly appreciated member whose contributions have been valuable to the board’s work. The company’s Nomination Committee will now review the board’s composition ahead of the next Annual General Meeting, a step that signals a formal process to ensure continuity in governance and board competence as the group continues to execute its long-term strategy in industrial and construction market niches.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK269.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.

Bergman & Beving Schedules Webcast for Q3 Interim Report on 4 February 2026

Bergman & Beving has invited analysts, media and investors to a webcast presentation of its third-quarter interim report on 4 February 2026 at 09:00 CET, to be hosted in English by CEO Magnus Söderlind and CFO Peter Schön. The presentation, which will be recorded and made available on the company’s website, will allow participants to ask questions either in writing via the webcast or verbally via a conference call, underlining the group’s ongoing efforts to maintain transparent communication with the capital market and other stakeholders ahead of the quarterly earnings disclosure.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.

Bergman & Beving Reshapes Organisation With New Fourth Division to Drive Growth

Bergman & Beving has introduced a new organisational setup with four divisions – Core Solutions, Safety Technology, Machinery & Equipment, and PPE & Utilities – each led by its own divisional head, in a move aimed at sharpening strategic focus and improving operational efficiency across its portfolio of niche industrial and construction solution providers. Effective from 1 October 2025 and to be reflected in financial reporting from the third quarter of 2025/2026, the revised divisional structure is designed to support more efficient capital allocation and an expanded acquisition agenda, underpinning the company’s ambition to deliver robust, profitable growth over the business cycle and reinforcing its position as an active consolidator in its chosen markets.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.

Bergman & Beving AB Executes Share Repurchase

Bergman & Beving AB has repurchased 200,000 of its own Class B shares at an average price of SEK 318.00 per share, as authorized by its Annual General Meeting. This move increases the total number of treasury shares to 800,743, out of a total of 27,436,416 shares, with 26,635,673 shares outstanding. The repurchase may impact the company’s stock liquidity and shareholder value, reflecting a strategic decision to manage its capital structure.

The most recent analyst rating on ($SE:BERG.B) stock is a Hold with a SEK324.00 price target. To see the full list of analyst forecasts on Bergman & Beving AB Class B stock, see the SE:BERG.B Stock Forecast page.