Enea AB (SE:ENEA)
:ENEA
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Enea AB
(ENEA)
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Rating:61Neutral
Price Target:
kr81.00
▲(7.28% Upside)
Action:ReiteratedDate:04/24/26
The score is held back primarily by weakened cash flow and poor TTM cash conversion despite strong revenue rebound and a conservative balance sheet. The latest earnings call supports the outlook with improving margins and maintained guidance, while technicals show a strong uptrend but stretched momentum. Valuation is a mild headwind given the 27.75 P/E and no dividend data.
Positive Factors
Revenue rebound & growth portfolio
A 60% TTM revenue rebound and an 80% contribution from the growth portfolio indicate durable product-market fit. A revenue base increasingly driven by expansion areas reduces reliance on legacy lines and supports multi-year top-line momentum and strategic reallocation of resources.
Negative Factors
Weak cash conversion
Earnings are not converting reliably into cash: FCF almost zero and conversion near 38% versus net income. This constrains self‑funding for growth initiatives, elevates reliance on external funding, and makes sustained buybacks or higher investment pacing riskier over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & growth portfolio
A 60% TTM revenue rebound and an 80% contribution from the growth portfolio indicate durable product-market fit. A revenue base increasingly driven by expansion areas reduces reliance on legacy lines and supports multi-year top-line momentum and strategic reallocation of resources.
Read all positive factors
Enea AB (ENEA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.52B
Dividend YieldN/A
Average Volume (3M)30.12K
Price to Earnings (P/E)14.3
Beta (1Y)0.51
Revenue Growth-2.24%
EPS Growth-18.90%
CountrySE
Employees480
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)4.53
Shares Outstanding20,560,581
10 Day Avg. Volume20,407
30 Day Avg. Volume30,123
Financial Highlights & Ratios
PEG Ratio-0.44
Price to Book (P/B)0.83
Price to Sales (P/S)1.54
P/FCF Ratio0.00
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)8.16
Revenue Forecast (FY)kr916.75M
Enea AB Business Overview & Revenue Model
Company Description
Enea AB (publ) provides software products for telecommunication, cybersecurity, medical device, and aerospace industries worldwide. It offers 5G data management products, such as Enea Stratum Network Data Layer, Enea Unified Data Manager, Enea Dig...
How the Company Makes Money
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Enea AB Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Positive
The call reports clear progress: strong constant-currency revenue growth, a sizeable improvement in adjusted EBITDA margin and a positive EPS turnaround, driven largely by an outstanding quarter for the firewall / signaling & messaging security business and continued strategy execution (hiring, awards, customer wins). Offsetting risks include weaker operating cash flow and negative net cash flow in the quarter, increased net debt driven by Middle East & Africa exposure, a decline in the Classic portfolio, some geopolitical-related deal timing shifts, and a one-off provision impacting non-cash/tax items. Overall, the positive financial momentum and strategic traction outweigh these manageable short-term cash and regional timing challenges.Positive Updates
Top-line Growth and Revenue
Net sales of SEK 222 million in Q1 2026, up 12% in constant (FX-adjusted) currency and ~4% in reported currency year-over-year.
Negative Updates
Operating Cash Flow and Net Cash Flow Pressure
Operating cash flow decreased in Q1; net cash flow was negative SEK 10.6 million in the quarter, driven by working capital tied to deals and increased investments.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Growth and Revenue
Net sales of SEK 222 million in Q1 2026, up 12% in constant (FX-adjusted) currency and ~4% in reported currency year-over-year.
Read all positive updates
Company Guidance
The company left its guidance unchanged: near‑term the market is expected to be “stable to moderately positive” with relief from the USD FX headwind in Q2, and full‑year 2026 guidance calls for single‑digit organic growth while adjusted EBITDA margin should finish north of 30% (management stated Q1 adjusted EBITDA was 34% or SEK 75m), noting they will continue to invest (raising costs slightly) to accelerate growth; Q1 context: net sales SEK 222m (12% FX‑adjusted growth), EPS SEK 0.98, R&D ~24–25% of sales, operating cash flow down but much of the working capital tied up in Q1 is expected to convert to cash in Q2, and longer‑term targets remain unchanged: ~10% average annual growth over 2026–28 and EBITDA above 35% by end‑2028.Enea AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
74
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 901.40M | 889.00M | 920.19M | 912.68M | 927.67M | 975.62M |
| Gross Profit | 501.30M | 528.20M | 724.44M | 697.68M | 713.99M | 624.96M |
| EBITDA | 253.70M | 214.60M | 390.24M | 240.00M | 295.23M | 372.83M |
| Net Income | 86.80M | 49.40M | 143.06M | -550.72M | 108.95M | 200.26M |
Balance Sheet | ||||||
| Total Assets | 2.42B | 2.29B | 2.54B | 2.58B | 3.32B | 3.03B |
| Cash, Cash Equivalents and Short-Term Investments | 89.80M | 97.60M | 161.52M | 261.79M | 231.30M | 211.37M |
| Total Debt | 374.50M | 352.70M | 303.47M | 509.44M | 587.80M | 776.46M |
| Total Liabilities | 752.70M | 648.30M | 693.68M | 900.98M | 1.03B | 1.26B |
| Stockholders Equity | 1.67B | 1.64B | 1.85B | 1.68B | 2.29B | 1.78B |
Cash Flow | ||||||
| Free Cash Flow | 5.20M | 0.00 | 272.31M | 166.91M | 28.63M | 193.18M |
| Operating Cash Flow | 85.40M | 106.60M | 279.20M | 263.46M | 166.84M | 333.74M |
| Investing Cash Flow | -103.90M | -98.90M | -92.68M | -95.22M | 34.81M | -517.78M |
| Financing Cash Flow | -80.00M | -49.00M | -300.72M | -126.01M | -205.83M | 191.54M |
Enea AB Technical Analysis
Positive
75.50
Price Trends
58.35
Positive
64.74
Negative
69.32
Negative
Market Momentum
0.60
Negative
67.80
Neutral
83.90
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ENEA, the sentiment is Positive. The current price of 75.5 is above the 20-day moving average (MA) of 57.24, above the 50-day MA of 58.35, and above the 200-day MA of 69.32, indicating a neutral trend. The MACD of 0.60 indicates Negative momentum. The RSI at 67.80 is Neutral, neither overbought nor oversold. The STOCH value of 83.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ENEA.
Enea AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | kr1.52B | 14.33 | ― | ― | -2.24% | -18.90% | |
54 Neutral | kr2.03B | -161.26 | -50.59% | ― | -14.28% | -2243.88% | |
53 Neutral | kr1.01B | 47.05 | ― | 1.92% | -40.78% | 2331.24% | |
45 Neutral | kr676.32M | -14.39 | -36.30% | ― | 0.48% | -370.96% | |
44 Neutral | kr2.43B | -15.04 | ― | ― | 13.69% | 26.98% |
* Technology Sector Average
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Enea AB Corporate Events
Enea Lifts Profitability as Security-Focused Growth Portfolio Gains Traction
Apr 23, 2026
Enea opened 2026 with modest top-line growth but sharply higher profitability, as it leans into next-generation network software and security. The company reported first-quarter net sales of SEK 222.4 million, up 4 percent year-on-year, or 12.1 pe...
Enea Steps Up Share Buybacks to Optimize Capital Structure
Apr 20, 2026
Enea AB has repurchased 16,468 of its own shares on Nasdaq Stockholm between April 13 and 17, 2026, under a previously announced buyback program of up to SEK 50 million. The transactions, executed by DNB Carnegie under EU market regulations, are i...
Enea Releases Comprehensive 2025 Annual Report on Strategy, Sustainability and Governance
Apr 15, 2026
Enea AB has published its 2025 annual report, which compiles its financial statements, sustainability report, governance disclosures, and a multi-year performance overview in Swedish kronor. The report outlines the company’s business concept...
Enea Continues Share Buybacks to Optimize Capital Structure
Apr 13, 2026
Enea AB has repurchased 18,000 of its own shares on Nasdaq Stockholm between April 7 and 10, 2026, under an ongoing buyback program of up to SEK 50 million authorized by its 2025 annual general meeting. The purchases, executed by DNB Carnegie with...
Enea Firewall Helps Liberty Costa Rica Slash SMS Spam by 99%
Apr 8, 2026
Enea has strengthened its position in telecom cybersecurity through a partnership with Liberty Costa Rica that uses its Adaptive Messaging Firewall and threat intelligence services to combat SMS fraud. The deployment underscores Enea’s role ...
Enea Advances SEK 50 Million Share Buyback to Refine Capital Structure
Apr 7, 2026
Enea has continued its share buyback programme, repurchasing 11,547 shares on Nasdaq Stockholm between March 30 and April 2, 2026, under an authorization from its 2025 annual general meeting. The buybacks, executed by DNB Carnegie, form part of a ...
Enea Sets April 23 Presentation for Q1 2026 Results
Apr 7, 2026
Enea has invited investors, analysts, and media to a presentation of its first-quarter 2026 report, to be held on April 23, 2026 at 08:30 a.m. CEST and led by CEO Teemu Salmi and CFO Ulf Stigberg. The event, accessible via webcast and conference c...
Enea Wins Five-Year Global CPaaS Messaging Security Contract
Apr 1, 2026
Enea has secured a five-year contract to provide messaging security software and services to a global communications platform-as-a-service (CPaaS) provider, in a deal valued at an estimated USD 3.4 million. Around USD 1.9 million will be recognize...
Enea Increases Treasury Stock with New Share Buybacks Under SEK 50m Program
Mar 30, 2026
Enea AB has continued its ongoing share buyback program, repurchasing 17,500 shares on Nasdaq Stockholm between March 23 and 27, 2026, under a mandate granted by its 2025 annual general meeting. The purchases, executed by DNB Carnegie, form part o...
Enea Wins Global InfoSec Award for Innovative Embedded Security Probe
Mar 24, 2026
Enea has strengthened its profile in embedded cybersecurity by winning the Most Innovative Embedded Security category at the 2026 Global InfoSec Awards for its Qosmos Probe network sensor. The software-based probe delivers deep network visibility ...
Enea Continues Share Buybacks Ahead of 2026 AGM
Mar 23, 2026
Enea AB has continued its ongoing share buyback program, repurchasing 17,492 of its own shares on Nasdaq Stockholm between March 16 and 20, 2026, under a mandate granted by the 2025 annual general meeting. The initiative is intended to optimize th...
Enea Nomination Committee Backs Robert Andersson as New Chairman
Mar 18, 2026
Enea’s Nomination Committee has proposed Robert Andersson as the new Chairman of the Board, to be elected at the company’s Annual General Meeting on 7 May 2026, following current Chairman Kjell Duveblad’s decision not to stand fo...
Enea Advances Share Buyback Program With New Repurchases
Mar 16, 2026
Enea AB has continued its ongoing share buyback program, repurchasing 20,000 of its own shares on Nasdaq Stockholm between March 9 and 13, 2026, under the authorization granted by the 2025 Annual General Meeting. The program, capped at SEK 50 mill...
Enea Strengthens Executive Team With New Chief Commercial Officer
Mar 11, 2026
Enea has appointed Mathias Johansson as Chief Commercial Officer, tasking him with strengthening customer relationships and driving profitable growth in line with the company’s existing strategy. Johansson brings 28 years of experience from ...
Enea Continues Share Buybacks to Optimize Capital Structure
Mar 9, 2026
Enea AB has repurchased 21,000 of its own shares on Nasdaq Stockholm between March 2 and 6, 2026, under a previously announced buyback program of up to SEK 50 million. The transactions, executed by DNB Carnegie, are intended to adjust the company&...
Enea Steps Up Share Buybacks to Optimize Capital Structure
Mar 2, 2026
Enea AB has repurchased 25,000 of its own shares on Nasdaq Stockholm between February 23 and 27, 2026, under a share buyback program of up to SEK 50 million authorized by the 2025 Annual General Meeting. The transactions, executed by DNB Carnegie ...
Enea Steps Up Share Buybacks to Optimize Capital Structure
Feb 23, 2026
Enea AB has repurchased 22,326 of its own shares on Nasdaq Stockholm between 16 and 20 February 2026 under an existing buyback mandate of up to SEK 50 million. The company aims to adjust its capital structure over time and intends to cancel the re...
Enea Steps Up Share Buybacks to Adjust Capital Structure
Feb 16, 2026
Enea has continued its ongoing share buyback programme, repurchasing 19,385 of its own shares on Nasdaq Stockholm between 9 and 13 February 2026 under a mandate from the 2025 annual general meeting. The initiative is designed to fine-tune the comp...
Enea Steps Up Share Buybacks to Optimize Capital Structure
Feb 9, 2026
Enea AB has repurchased 20,000 of its own shares on Nasdaq Stockholm between 2 and 6 February 2026, under a buyback mandate of up to SEK 50 million authorized by shareholders. The programme is aimed at adjusting the company’s capital structu...
Enea Continues Share Buyback Program, Tightens Capital Structure
Feb 2, 2026
Enea AB has repurchased 19,851 of its own shares on Nasdaq Stockholm between January 26 and 30, 2026 under its previously announced share buyback program of up to SEK 50 million. Conducted via DNB Carnegie and in line with EU Safe Harbour rules, t...
Enea Secures Five-Year DPI Deal with Tier-1 MENA Mobile Operator
Feb 2, 2026
Enea has clarified details of a newly announced five-year Deep Packet Inspection (DPI) project in partnership with Digis Squared for a Tier-1 mobile network operator in the Middle East and North Africa, with the contract valued at USD 1.8 million ...
Enea and Digis Squared Win Major DPI Deal with Tier‑1 MENA Mobile Operator
Feb 2, 2026
Enea and managed services and systems integrator Digis Squared have secured a major deep packet inspection and traffic management project with a Tier‑1 mobile network operator in the Middle East and North Africa, leveraging Enea’s Inte...
Enea Delivers Strong Margins but Weaker Earnings and Cash Flow in 2025
Jan 30, 2026
Enea AB reported a soft fourth quarter of 2025, with net sales declining 5.1% year-on-year to SEK 238.7 million, though currency-adjusted revenue grew slightly by 0.9%, as all three segments—network, security, and operating systems—reg...
Enea Continues Share Buyback Program with 20,000 Shares Repurchased
Jan 26, 2026
Enea has repurchased a total of 20,000 of its own shares on Nasdaq Stockholm between January 19 and 23, 2026, under the share buyback program of up to SEK 50 million authorized by its 2025 Annual General Meeting. The transactions, executed by DNB ...
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.