ByggPartner Gruppen AB (BYGGP) AI Stock Analysis

• Market Cap: kr1.99B
• Dividend Yield: 1.24%
• Average Volume (3M): 20.75K
• Price to Earnings (P/E): 14.9
• Beta (1Y): 0.07
• Revenue Growth: 4.25%
• EPS Growth: 127.31%
• Country: SE
• Employees: 945
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 0.98
• Shares Outstanding: 45,342,434
• 10 Day Avg. Volume: 15,625
• 30 Day Avg. Volume: 20,755
• PEG Ratio: 0.11
• Price to Book (P/B): 3.18
• Price to Sales (P/S): 0.37
• P/FCF Ratio: 7.01
• 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): 3.9
• Revenue Forecast (FY): kr5.97B

• Rating: 72 Outperform
• Price Target: kr51.00 ▲(16.44% Upside)
• Action: Upgraded Date: 02/18/26
• Date: Action: Upgraded 02/18/26

The score is driven primarily by improved financial performance (profitability recovery, stronger cash generation, and reduced leverage) and supportive technicals (price above major moving averages with positive MACD). Valuation is fair rather than compelling, with only a modest dividend yield, which tempers the overall score.

Positive Factors

Improved cash generation

A sharp rise in free cash flow and close alignment of FCF to reported earnings across 2024–2025 indicates stronger cash conversion. Durable cash generation enhances funding for working capital and capex, reduces refinancing risk, and supports sustained investment or deleveraging over coming quarters.

Materially reduced leverage

Substantially lower leverage and rising equity provide lasting financial flexibility. A stronger balance sheet reduces interest/service burden and improves ability to bid on larger contracts or withstand project delays, lowering insolvency risk through future industry cycles.

Profitability recovery & revenue re-acceleration

Return to positive earnings and expanding margins after multi-year losses signals operational improvements and pricing/ cost discipline. Re-accelerating revenue suggests recovering demand or better project mix, supporting sustainable earnings generation if execution remains consistent.

Negative Factors

Thin margins & outcome volatility

Persistently slim net margins leave limited buffer against cost overruns, material price inflation, or project delays. Given past swings into losses, a modest margin base increases the probability that adverse contract or input-cost shocks could erase profits over the next several quarters.

Historic cashflow swings

Prior periods of negative operating and free cash flow demonstrate that cash conversion can reverse quickly in weaker market conditions. This elevates refinancing and working-capital risk on long projects and can constrain bidding or growth unless cash buffers remain intact.

Project-driven revenue sensitivity

Revenue and profit depend on order intake, contract pricing, procurement and execution quality. The project-based model is inherently lumpy and sensitive to procurement cycles and cost overruns, increasing structural risk to steady revenue and margin visibility over coming quarters.

ByggPartner Gruppen AB Business Overview & Revenue Model

Company Description

ByggPartner Gruppen AB (publ) operates as a construction company in Sweden. It is involved in the construction of commercial, community, and housing properties. The company also engages in the minor new constructions and renovations, public framework agreements, and ongoing service contracting operations. In addition, it is involved in the scaffolding and dismantling of scaffolding; and rental of scaffolding and fall protection products. Further, the company manufactures and supplies wooden building components. The company was formerly known as ByggPartner i Dalarna Holding AB (publ) and changed its name to ByggPartner Gruppen AB (publ) in June 2022. ByggPartner Gruppen AB (publ) was founded in 1992 and is headquartered in Borlänge, Sweden.

How the Company Makes Money

ByggPartner Gruppen AB generates revenue primarily through its construction contracts, which encompass large-scale projects in both the public and private sectors. The company earns money by bidding on and securing contracts for new building projects, renovations, and infrastructure developments, charging clients based on the scope and complexity of each project. Key revenue streams include fixed-price contracts, cost-plus contracts, and time and materials billing. Additionally, BYGGP may engage in strategic partnerships with suppliers and subcontractors to enhance project efficiency and reduce costs, thereby improving profit margins. The company also benefits from repeat business and long-term relationships with clients, which contribute to stable revenue growth.

ByggPartner Gruppen AB Financial Statement Overview

Summary

Turnaround is credible: profitability returned in 2024 and improved further in 2025, leverage has been reduced materially (debt-to-equity down to ~0.24 in 2025), and 2025 free cash flow rose sharply with solid earnings-to-cash alignment. The main constraint is durability risk given thin margins and pronounced volatility (losses and negative cash flow in 2022–2023).

Income Statement

Profitability has improved materially after losses in 2022–2023: 2024 returned to positive earnings and 2025 expanded further, with net margin rising to ~2.5% (from ~1.1% in 2024). Revenue growth also re-accelerated in 2025 (~3.5%) after a slight decline in 2024. Offsetting this, margins remain thin for the sector and results have been volatile over the cycle (positive in 2020–2021, losses in 2022–2023), which raises confidence risk around durability of the turnaround.

Balance Sheet

Leverage has improved meaningfully: debt-to-equity declined from elevated levels in 2022 (~0.92) and 2023 (~0.58) to ~0.41 in 2024 and ~0.24 in 2025, while equity grew over the last two years. Total assets have also remained stable-to-growing. The key weakness is that the balance sheet was meaningfully more stretched during the downturn years, highlighting sensitivity to operating performance even if the current position is healthier.

Cash Flow

Cash generation is a clear strength in the most recent period: operating cash flow and free cash flow increased sharply in 2025 (free cash flow up ~55%), and free cash flow is close to reported earnings in both 2024 and 2025 (roughly 0.9–0.95x), suggesting earnings quality is solid. The main concern is historical volatility—operating and free cash flow were negative in 2022–2023—indicating cash conversion can swing materially in weaker operating environments.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022
Income Statement
Total Revenue	5.12B	4.75B	4.87B	3.96B	2.28B
Gross Profit	338.84M	255.52M	-16.81M	16.25M	145.93M
EBITDA	216.76M	88.42M	-98.87M	-54.59M	104.82M
Net Income	126.17M	53.54M	-164.78M	-93.38M	69.67M
Balance Sheet
Total Assets	1.84B	1.75B	1.78B	1.86B	785.01M
Cash, Cash Equivalents and Short-Term Investments	157.84M	35.73M	82.07M	86.33M	168.55M
Total Debt	141.00M	199.14M	251.19M	296.23M	26.08M
Total Liabilities	1.25B	1.26B	1.35B	1.54B	588.54M
Stockholders Equity	593.95M	490.06M	436.52M	321.16M	196.47M
Cash Flow
Free Cash Flow	268.91M	75.09M	-137.16M	-77.18M	80.85M
Operating Cash Flow	284.95M	82.28M	-126.55M	-71.59M	99.38M
Investing Cash Flow	-9.14M	-30.51M	-14.39M	-132.72M	-37.55M
Financing Cash Flow	-153.70M	-98.11M	136.69M	122.07M	-52.96M

ByggPartner Gruppen AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BYGGP, the sentiment is Positive. The current price of 43.8 is below the 20-day moving average (MA) of 43.93, above the 50-day MA of 42.91, and above the 200-day MA of 32.90, indicating a neutral trend. The MACD of 0.42 indicates Positive momentum. The RSI at 46.53 is Neutral, neither overbought nor oversold. The STOCH value of 22.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BYGGP.

ByggPartner Gruppen AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYGGP	72 Outperform	kr1.99B	14.95	―	1.24%	4.25%	127.31%
INSTAL	64 Neutral	kr8.59B	20.20	11.66%	2.67%	-3.68%	-48.79%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
NORB.B	50 Neutral	kr683.99M	77.60	2.34%	―	4.24%	29.69%
ELTEL	48 Neutral	kr1.33B	58.96	0.72%	―	-6.38%	―
FG	46 Neutral	kr1.76B	-14.32	―	―	8.40%	-101.19%
WBGR.B	42 Neutral	kr410.04M	-0.77	-73.61%	―	-0.02%	-50.72%