Ework Group AB (SE:EWRK)
:EWRK
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Ework Group AB
(EWRK)
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Rating:62Neutral
Price Target:
kr68.00
▼(-30.26% Downside)
Action:Reiterated
Date:05/01/26
The score is supported primarily by strong cash generation and improved leverage, plus an attractive dividend yield. Offsetting this are contracting revenue, very thin profitability margins, and weak technical positioning with the stock trading below key moving averages.
Positive Factors
Strong cash generation
Consistent and growing free cash flow—with FCF roughly matching net income and FCF growth at +17%—provides durable internal funding for dividends, working-capital needs and selective reinvestment. High cash conversion quality improves resilience through 2–6 month revenue cycles and supports strategic optionality.
Negative Factors
Contracting revenue
A declining top line reduces the addressable margin pool for a spread-based intermediary, weakening operating leverage. Sustained revenue contraction erodes pricing leverage, limits reinvestment capacity, and can force margin trade-offs that materially affect cash flow and profitability over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent and growing free cash flow—with FCF roughly matching net income and FCF growth at +17%—provides durable internal funding for dividends, working-capital needs and selective reinvestment. High cash conversion quality improves resilience through 2–6 month revenue cycles and supports strategic optionality.
Read all positive factors
Ework Group AB (EWRK) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.03B
Dividend Yield7.11%
Average Volume (3M)17.84K
Price to Earnings (P/E)40.4
Beta (1Y)0.23
Revenue Growth-11.94%
EPS Growth-43.97%
CountrySE
Employees300
SectorServices
Sector StrengthN/A
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)3.85
Shares Outstanding17,287,275
10 Day Avg. Volume20,576
30 Day Avg. Volume17,839
Financial Highlights & Ratios
PEG Ratio-0.48
Price to Book (P/B)6.64
Price to Sales (P/S)0.12
P/FCF Ratio13.50
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)3.72
Revenue Forecast (FY)kr12.05B
Ework Group AB Business Overview & Revenue Model
Company Description
Ework Group AB (publ) operates as a consultant supplier with focus on IT, telecom, technology, and business development in Sweden, Denmark, Norway, Finland, and Poland. The company was formerly known as eWork Scandinavia AB (publ) and changed its ...
How the Company Makes Money
Ework primarily makes money by acting as an intermediary between client organizations and external consultants. Its core revenue model is margin-based: Ework contracts with the client at an agreed bill rate for a consultant assignment, sources the...
Ework Group AB Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
64
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.25B | 13.74B | 15.76B | 17.25B | 16.07B | 13.19B |
| Gross Profit | 177.06M | 122.92M | 340.27M | 365.11M | 425.60M | 322.41M |
| EBITDA | 162.93M | 186.80M | 234.25M | 246.18M | 212.71M | 161.34M |
| Net Income | 66.60M | 76.23M | 138.51M | 129.03M | 139.19M | 97.99M |
Balance Sheet | ||||||
| Total Assets | 3.02B | 3.22B | 3.71B | 4.14B | 4.80B | 3.72B |
| Cash, Cash Equivalents and Short-Term Investments | 9.31M | 60.62M | 127.45M | 131.45M | 332.01M | 154.50M |
| Total Debt | 240.23M | 189.81M | 222.59M | 260.81M | 461.49M | 235.06M |
| Total Liabilities | 2.76B | 2.97B | 3.41B | 3.86B | 4.54B | 3.53B |
| Stockholders Equity | 258.65M | 249.80M | 301.33M | 280.86M | 260.85M | 198.92M |
Cash Flow | ||||||
| Free Cash Flow | 136.54M | 122.79M | 164.77M | 147.08M | 81.79M | 53.21M |
| Operating Cash Flow | 142.48M | 122.80M | 176.13M | 164.03M | 110.35M | 68.30M |
| Investing Cash Flow | -10.51M | -10.81M | -11.21M | -16.95M | -28.56M | -15.09M |
| Financing Cash Flow | -128.15M | -178.37M | -169.55M | -345.74M | 106.17M | -135.48M |
Ework Group AB Technical Analysis
Negative
97.50
Price Trends
64.13
Negative
73.42
Negative
84.97
Negative
Market Momentum
-1.74
Positive
38.95
Neutral
25.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:EWRK, the sentiment is Negative. The current price of 97.5 is above the 20-day moving average (MA) of 63.79, above the 50-day MA of 64.13, and above the 200-day MA of 84.97, indicating a bearish trend. The MACD of -1.74 indicates Positive momentum. The RSI at 38.95 is Neutral, neither overbought nor oversold. The STOCH value of 25.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:EWRK.
Ework Group AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | kr1.03B | 40.37 | ― | 7.11% | -11.94% | -43.97% | |
56 Neutral | kr425.54M | 12.17 | ― | 5.95% | -10.62% | -21.79% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
52 Neutral | kr265.93M | 12.17 | -0.23% | ― | -11.72% | 99.53% | |
44 Neutral | kr139.69M | -9.30 | -25.98% | ― | -20.44% | 31.38% |
* Services Sector Average
SE:EWRK
Ework Group AB
60.10
-48.80
-44.81%
SE:WISE
Wise Group AB
18.45
0.35
1.93%
SE:PION.B
Poolia AB Class B
5.58
0.18
3.33%
SE:DEDI
Dedicare AB
44.05
0.05
0.12%
Ework Group AB Corporate Events
Ework Group’s Q1 Profit Slides on Lower Volumes Despite Stable Margins
Apr 28, 2026
Ework Group AB reported a weak start to 2026, with first-quarter net sales down 13.9% to SEK 3.02 billion and gross profit down 12.7% to SEK 124.4 million, while maintaining a stable gross margin of 4.1%. The number of professionals on assignment ...
Ework Group Releases 2025 Annual and Sustainability Report
Apr 7, 2026
Ework Group AB has published its 2025 Annual and Sustainability Report, which combines financial statements, governance disclosures, and a statutory sustainability report prepared under the Swedish Annual Accounts Act. The report outlines the comp...
Ework Hit by Weaker Demand and Write-Offs, Cuts Dividend After Profit Slump
Feb 19, 2026
Ework Group AB reported a weak 2025, with net sales down 13% to SEK 13.7 billion and order intake falling 12%, reflecting softer demand and fewer professionals on assignment. Profitability was squeezed despite a slightly higher gross margin, as EB...
Ework launches transformation drive to cut costs and sharpen competitiveness
Feb 19, 2026
Ework Group AB has launched a transformation program to streamline its organizational structure and management framework in a bid to sharpen competitiveness and boost operational efficiency. The reorganization includes clearer role definitions, a ...
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.