Bravida Holding AB (BRAV) AI Stock Analysis

• Market Cap: kr21.52B
• Dividend Yield: 4.22%
• Average Volume (3M): 147.21K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 0.86
• Revenue Growth: -4.21%
• EPS Growth: 10.63%
• Country: SE
• Employees: 14,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 2.42
• Shares Outstanding: 204,578,280
• 10 Day Avg. Volume: 194,760
• 30 Day Avg. Volume: 147,213
• PEG Ratio: 0.91
• Price to Book (P/B): 2.01
• Price to Sales (P/S): 0.65
• P/FCF Ratio: 0.00
• 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): 6.57
• Revenue Forecast (FY): kr28.46B

• Rating: 57 Neutral
• Price Target: kr109.00 ▲(23.30% Upside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is held back primarily by weakening financial quality in 2025 (sharp revenue decline, higher leverage, and free cash flow dropping to zero). Technicals are supportive due to a strong uptrend, but overbought signals raise near-term downside risk. Valuation is fair with a solid dividend yield, offering some offset.

Positive Factors

Recurring service revenue model

Bravida’s mix of project installations plus recurring service and maintenance creates more predictable, repeatable revenue streams. Over a multi-month horizon this reduces earnings volatility versus pure project players, supporting steady cash flows and customer retention in building services.

Nordic scale and local branch network

A broad Nordic branch footprint and scale enable Bravida to capture both small recurring service work and large multi-site contracts. This local presence is a durable competitive advantage: it lowers execution risk, supports cross-selling, and makes the company a preferred supplier for regional clients and public-sector customers.

Sustained margins and solid ROE

Despite recent top-line pressure, Bravida exhibits steady operating margins and historically solid ROE, indicating efficient capital deployment and margin resilience in the engineering & construction sector. These durable profitability metrics support ongoing cash generation when volumes normalize.

Negative Factors

Sharp 2025 revenue decline

A steep, structural revenue drop of this magnitude materially weakens the company’s growth outlook and operating leverage. If persistent, it can erode scale benefits, reduce utilization, and pressure margins and service contract renewals, making recovery and planning more difficult over several quarters.

Material increase in leverage

The notable rise in debt-to-equity raises financial risk and reduces balance-sheet flexibility. Higher leverage constrains the firm’s ability to invest in growth or absorb cyclical downturns, increases interest-cost sensitivity, and could limit strategic options until deleveraging or cash conversion improves.

Collapse in free cash flow conversion

Free cash flow falling to zero after prior strong conversion indicates elevated working-capital needs or higher investment. This reduces financial flexibility, limits capacity for reinvestment or debt paydown, and heightens reliance on external financing until normal cash conversion resumes.

Bravida Holding AB Business Overview & Revenue Model

Company Description

Bravida Holding AB (publ) provides technical services and installations for buildings and industrial facilities in Sweden, Norway, Denmark, and Finland. The company offers installation and refurbishment of technical systems in properties, facilities, and infrastructure; and operation and maintenance services, as well as undertakes minor refurbishment works. It also provides installation services for electrical, heating and plumbing, and technical solutions, as well as heating, ventilation, and air conditioning systems in buildings and facilities; and installs and services cooling and power facilities, and solar panels. In addition, it provides telecom and other low-voltage installations; fire and intruder alarm products and systems; access control systems; CCTV; and integrated security systems, as well as electric-car charging; energy optimization; and GreenHub fossil-free transport services. Further, the company offers technical management of properties and facilities services. It serves property owners, professional tenants, and industrial companies. The company was founded in 1922 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Bravida generates revenue primarily through its core services in technical installations and maintenance. The company earns income by providing project-based services for new construction, renovation, and ongoing maintenance contracts. Key revenue streams include installation services for HVAC, electrical systems, and plumbing, as well as service agreements for long-term maintenance. Additionally, Bravida benefits from public and private sector contracts, which contribute a significant portion of its earnings. Strategic partnerships with construction firms and energy companies further enhance its market reach and revenue potential.

Bravida Holding AB Financial Statement Overview

Summary

Profitability is steady with improving net margin (~4.4% in 2025) and solid ROE (~13.5%), but the latest year shows meaningful pressure: a sharp reported revenue decline (-68.7%), higher leverage (debt-to-equity ~0.66 vs ~0.37), and free cash flow falling to ~0 after prior strength.

Income Statement

Bravida shows steady profitability for an Engineering & Construction business, with net margin improving to ~4.4% in 2025 (vs ~3.6% in 2024) and operating margin holding around ~5–6% over the period. However, growth is the main concern: 2025 revenue declined sharply (reported -68.7% growth), and while 2021–2024 generally grew, the trajectory is no longer consistently positive. Overall, margins are respectable and fairly stable, but the recent revenue contraction meaningfully reduces the quality of the earnings profile.

Balance Sheet

The balance sheet is mixed. Returns on equity remain solid (~12–17% historically; ~13.5% in 2025), indicating good profitability on shareholder capital. Leverage, however, increased materially in 2025: debt-to-equity rose to ~0.66 from ~0.37 in 2024, signaling a higher risk posture versus prior years. Equity has grown over time, but the step-up in debt in the latest period tempers overall balance sheet strength.

Cash Flow

Cash generation weakened in the latest year. Operating cash flow fell to ~1.45B in 2025 from ~1.90B in 2024, and free cash flow dropped to zero (vs ~1.84B in 2024), a sharp deterioration after several years of strong free cash flow conversion relative to net income (roughly ~0.9–1.0x in 2020–2024). The 2025 profile suggests higher working-capital or investment demands and reduces financial flexibility until cash conversion normalizes.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	28.21B	29.65B	29.42B	26.30B	21.88B
Gross Profit	4.29B	4.29B	4.40B	3.97B	3.30B
EBITDA	2.30B	2.18B	2.37B	2.17B	1.95B
Net Income	1.23B	1.06B	1.23B	1.27B	1.15B
Balance Sheet
Total Assets	23.46B	23.87B	24.33B	22.47B	19.52B
Cash, Cash Equivalents and Short-Term Investments	956.00M	909.00M	1.05B	1.31B	1.59B
Total Debt	6.00B	3.25B	3.24B	2.61B	2.60B
Total Liabilities	14.33B	15.04B	16.07B	14.54B	12.68B
Stockholders Equity	9.12B	8.80B	8.23B	7.89B	6.82B
Cash Flow
Free Cash Flow	0.00	1.84B	1.30B	1.45B	1.35B
Operating Cash Flow	1.45B	1.90B	1.42B	1.59B	1.44B
Investing Cash Flow	-525.00M	-593.00M	-618.00M	-817.00M	-509.00M
Financing Cash Flow	-805.00M	-1.41B	-999.00M	-1.08B	-1.15B

Bravida Holding AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 88.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BRAV, the sentiment is Positive. The current price of 88.4 is below the 20-day moving average (MA) of 97.52, below the 50-day MA of 92.52, and below the 200-day MA of 90.11, indicating a bullish trend. The MACD of 4.60 indicates Negative momentum. The RSI at 70.81 is Negative, neither overbought nor oversold. The STOCH value of 85.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BRAV.

Bravida Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSTAL	64 Neutral	kr9.47B	27.44	8.12%	2.67%	-3.68%	-48.79%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
PEAB.B	61 Neutral	kr31.33B	22.41	10.55%	3.26%	-4.93%	10.91%
AFRY	59 Neutral	kr15.21B	19.13	6.97%	4.09%	-3.73%	-22.34%
BRAV	57 Neutral	kr21.52B	17.48	―	4.22%	-4.21%	10.63%
NCC.B	54 Neutral	kr19.59B	151.80	20.30%	4.17%	5.68%	27.52%

Bravida Holding AB Corporate Events

Bravida Lifts Margin and Cash Flow as Nordic Market Shows Early Signs of Recovery

Bravida reported slightly lower full-year net sales for 2025, but improved profitability, with EBITA up 9 percent and the EBITA margin rising to 5.9 percent, helped by disciplined project selection and stronger margins in Denmark and Norway. Order intake and order backlog grew, profit after tax increased 16 percent, and the board proposed a higher dividend, signalling confidence despite continued market pressure.

The group generated strong cash flow in the fourth quarter, reduced net debt to 1.1 times EBITDA and continued its acquisition strategy, albeit at a slower pace, while preparing a divestment of non-core subsidiary ABEKA to sharpen focus on core power-segment activities. Bravida is restructuring its Swedish organisation to cut costs and boost efficiency, improving workplace safety and reducing fleet emissions, and expects the construction downturn to have bottomed, with gradual demand recovery driven by infrastructure, electrification and data center investments in 2026.

The most recent analyst rating on (SE:BRAV) stock is a Hold with a SEK94.00 price target. To see the full list of analyst forecasts on Bravida Holding AB stock, see the SE:BRAV Stock Forecast page.

Bravida Issues and Buys Back Class C Shares to Cover LTIP 2025

Bravida Holding AB’s board has resolved to issue and immediately repurchase 770,000 class C shares in a directed cash issue to DNB Bank ASA, Sweden Branch, increasing share capital by SEK 15,400 at a subscription price corresponding to the quota value. The repurchased class C shares, which carry one-tenth voting rights and no dividend entitlement, are intended to be reclassified into ordinary shares to secure share delivery under Bravida’s performance-based long-term incentive program LTIP 2025 for group employees.

Including previously held class C shares, Bravida will now hold a total of 2,548,327 such shares, reinforcing its ability to meet future obligations arising from the incentive scheme without immediate dilution through new ordinary share issuance. The move underlines the company’s continued use of share-based remuneration to align employee interests with shareholders and supports its long-term strategy execution in the Nordic technical services and installation market.

The most recent analyst rating on (SE:BRAV) stock is a Hold with a SEK94.00 price target. To see the full list of analyst forecasts on Bravida Holding AB stock, see the SE:BRAV Stock Forecast page.

Bravida to Present Q4 2025 Interim Report on 18 February 2026

Bravida Holding AB will publish its interim report for the fourth quarter of 2025 at 07:30 CET on 18 February 2026, followed by a presentation at 09:30 CET led by CEO Mattias Johansson and CFO Petra Vranjes, which will be held in English and accessible via webcast and telephone conference with a Q&A session. The company is providing multiple digital channels and making both the report and presentation materials available online, underlining its continued emphasis on transparent financial communication and engagement with investors and other stakeholders.

The most recent analyst rating on (SE:BRAV) stock is a Hold with a SEK96.00 price target. To see the full list of analyst forecasts on Bravida Holding AB stock, see the SE:BRAV Stock Forecast page.