FM Mattsson Mora Group AB Class B (FMM.B) AI Stock Analysis

• Market Cap: kr3.58B
• Dividend Yield: 3.07%
• Average Volume (3M): 4.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.28
• Revenue Growth: 2.08%
• EPS Growth: -7.27%
• Country: SE
• Employees: 565
• Sector: Industrials
• Sector Strength: 72
• Industry: Construction
• EPS (TTM): 1.07
• Shares Outstanding: 36,241,432
• 10 Day Avg. Volume: 7,194
• 30 Day Avg. Volume: 4,661
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• 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: kr75.00
• Price Target Upside: 7.14% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 4.21
• Revenue Forecast (FY): kr2.07B

• Rating: 71 Outperform
• Price Target: kr93.00 ▲(32.86% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is primarily supported by strong financial quality—especially a conservatively positioned balance sheet and solid cash generation—partly offset by weaker profitability versus prior peaks. Technicals are constructive but look overbought, and valuation is the main drag due to the high P/E despite a modest dividend yield.

Positive Factors

Conservative balance sheet, near-zero leverage

A debt-free position and sizable equity relative to assets materially reduce refinancing and liquidity risk. This conservative capital structure preserves financial flexibility for capex, working-capital cycles, acquisitions or downturns and supports durable access to funding when needed.

Solid free cash flow generation

Consistent positive operating and free cash flow, with improvement in 2025, underpins the firm's ability to fund operations, dividends and selective reinvestment without reliance on external debt. Reliable cash conversion supports long-term financial resilience despite episodic swings.

Specialized product focus and channel reach

A focused product portfolio serving professional installers and wholesale channels builds durable customer relationships and specification advantages in construction and renovation markets. Brand depth in water-related fittings supports steady aftermarket demand and defensible niche positioning.

Negative Factors

Profitability below prior peaks

A sustained downshift in margins and returns reduces the firm's internal capital productivity and limits reinvestment capacity. If pricing power or cost structure do not recover, lower profitability will constrain dividend growth and the ability to expand without eroding returns.

Stagnant top-line momentum

Flat revenue across several years implies limited organic growth levers and reliance on cyclic construction/renovation activity. Absent market-share gains or structural market expansion, earnings improvement must come from margin recovery or cost cuts, increasing execution risk.

Intermittent cash-flow volatility

Periodic sharp FCF swings tied to working-capital or investment timing create unpredictability around available liquidity. This volatility can force conservative capital allocation, require higher cash buffers, and complicate consistent dividend or capex planning over the medium term.

FM Mattsson Mora Group AB Class B Business Overview & Revenue Model

Company Description

FM Mattsson Mora Group AB (publ) engages in the development, manufacture, and sale of water taps and related products for bathrooms and kitchens. The company offers its products under the FM Mattsson, Mora Armatur, Damixa, Hotbath, Aqualla, and Adamsez brands. It serves private housing, manufacturing, and public sectors, as well as real estate companies. It has operations in Sweden, Norway, Denmark, Finland, Benelux, the United Kingdom, Germany, and Italy. The company was formerly known as Ostnor AB and changed its name to FM Mattsson Mora Group AB (publ) in 2015. FM Mattsson Mora Group AB (publ) was founded in 1865 and is based in Mora, Sweden.

How the Company Makes Money

FM Mattsson Mora Group generates revenue primarily through the sales of its plumbing products, which include a wide range of faucets, showers, and other sanitary fittings. The company's revenue model is built on direct sales to retailers, distributors, and wholesalers across various markets, both in Sweden and internationally. Key revenue streams include the residential sector, where the company provides products for home renovations and new constructions, as well as the commercial sector, supplying solutions for businesses and public facilities. Additionally, the company benefits from strategic partnerships with construction firms and retail chains, which enhance its market reach and distribution capabilities. Factors contributing to its earnings include a strong brand reputation for quality, a focus on sustainability in product development, and ongoing investments in innovation and design to meet evolving customer preferences.

FM Mattsson Mora Group AB Class B Financial Statement Overview

Summary

Strong balance sheet with very low leverage (reported total debt at zero in 2025) and solid, improving free cash flow in 2025 support financial flexibility. The main offset is a multi-year profitability downshift versus 2021–2022 peaks and only modest recent revenue momentum.

Income Statement

Revenue has been broadly flat over the past several years, with a small rebound in 2025 (annual) after a decline in 2024, pointing to modest top-line momentum. Profitability, however, has clearly compressed from 2021–2022 highs: gross profit and net income in 2025 improved versus 2024, but earnings power remains below earlier peak levels, indicating weaker pricing and/or cost pressure. Overall, the income statement reflects decent current profitability with a less consistent margin trajectory.

Balance Sheet

The balance sheet appears conservatively positioned with very low leverage historically and reported total debt at zero in 2025 (annual), while equity has remained stable and sizable relative to total assets. Even in prior years, debt levels were modest versus equity, supporting financial flexibility and lowering refinancing risk. The main limitation is that returns on equity have trended down from 2021–2022 peaks alongside lower profitability, but the capital structure remains a clear strength.

Cash Flow

Cash generation is solid: operating cash flow and free cash flow are positive across the period and strengthened in 2025 (annual), with strong year-over-year free cash flow growth. That said, cash flow has been somewhat volatile—most notably the sharp free cash flow drop in 2022—suggesting working-capital or investment swings can meaningfully impact cash conversion. Overall, the company shows good cash-producing capacity with intermittent fluctuations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.97B	1.88B	1.94B	1.93B	1.82B
Gross Profit	748.80M	696.97M	699.83M	710.83M	703.47M
EBITDA	205.30M	245.85M	293.28M	346.09M	395.99M
Net Income	145.00M	101.92M	147.34M	193.44M	237.26M
Balance Sheet
Total Assets	1.83B	1.83B	1.78B	1.80B	1.73B
Cash, Cash Equivalents and Short-Term Investments	247.00M	159.20M	135.20M	69.65M	193.87M
Total Debt	0.00	91.55M	102.38M	90.90M	44.90M
Total Liabilities	760.30M	765.30M	755.92M	798.39M	924.50M
Stockholders Equity	1.07B	1.06B	1.02B	999.78M	806.89M
Cash Flow
Free Cash Flow	216.20M	188.50M	216.00M	33.03M	228.29M
Operating Cash Flow	255.00M	238.40M	266.14M	107.75M	275.90M
Investing Cash Flow	-38.20M	-50.24M	-49.61M	-87.43M	-123.67M
Financing Cash Flow	-121.30M	-157.77M	-151.75M	-144.44M	-162.42M

FM Mattsson Mora Group AB Class B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 70.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FMM.B, the sentiment is Positive. The current price of 70 is below the 20-day moving average (MA) of 73.65, below the 50-day MA of 71.52, and above the 200-day MA of 60.92, indicating a bullish trend. The MACD of 3.66 indicates Negative momentum. The RSI at 68.14 is Neutral, neither overbought nor oversold. The STOCH value of 65.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:FMM.B.

FM Mattsson Mora Group AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FMM.B	71 Outperform	kr3.58B	―	10.51%	3.07%	2.08%	-7.27%
SYSR	66 Neutral	kr16.72B	15.29	11.96%	1.55%	2.11%	13.90%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CTEK	55 Neutral	kr993.66M	16.91	-4.53%	―	3.06%	-795.86%
SALT.B	46 Neutral	kr897.42M	-12.66	-40.77%	―	11.85%	6.39%
SE0012729937	44 Neutral	kr8.45M	-0.17	-36.21%	―	-39.74%	-863.56%

FM Mattsson Mora Group AB Class B Corporate Events

FM Mattsson Mora Group Lifts 2025 Profitability and Launches Efficiency Program

FM Mattsson Mora Group AB reported higher sales and profitability for 2025, with net sales rising 4.7 percent to SEK 1,969.3 million and organic growth of 7.0 percent, driven by solid demand across several countries and customer segments. EBITA increased to SEK 205.3 million, lifting the EBITA margin to 10.4 percent, while earnings per share climbed to SEK 3.43 and strong cash flow enabled the Board to propose a higher dividend of SEK 2.50 per share.

The fourth quarter showed particularly robust momentum, with organic growth of 9.8 percent and the EBITA result more than doubling year-on-year as margins benefited from sales growth, favorable product mix, cost discipline and reduced inventory provisions. To address weaker profitability in its Nordic segment and secure a more competitive cost base, the company has launched an efficiency program starting January 2026 that will cut up to 45 positions and is expected to deliver SEK 20–25 million in annual savings from the third quarter of 2026, reinforcing its drive to sustain growth and margin improvements in a still cautious construction market.

The most recent analyst rating on ($SE:FMM.B) stock is a Buy with a SEK84.00 price target. To see the full list of analyst forecasts on FM Mattsson Mora Group AB Class B stock, see the SE:FMM.B Stock Forecast page.

FM Mattsson Mora Group Launches Efficiency Programme to Boost Nordic Profitability

FM Mattsson Mora Group is launching an efficiency programme in its Nordic operations to support its long-term goal of achieving a 15% EBITA margin over an economic cycle, after profitability in the region fell below target despite roughly 3% sales growth from January to September 2025. The initiative centres on cost-cutting measures at the Mora head office and production facility, including a planned reduction of up to 45 positions across white- and blue-collar staff, with the aim of generating annual savings of SEK 20–25 million from the third quarter, underscoring management’s effort to adjust its cost base to a weak construction market while preserving conditions for continued growth.

The most recent analyst rating on ($SE:FMM.B) stock is a Buy with a SEK84.00 price target. To see the full list of analyst forecasts on FM Mattsson Mora Group AB Class B stock, see the SE:FMM.B Stock Forecast page.