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Ferronordic AB
(FNM)
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Rating:58Neutral
Price Target:
kr83.00
▲(84.24% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by an improving but still risk-aware financial profile: earnings have recovered and cash flow is positive, but leverage is elevated and margins remain thin. Technicals add support due to a strong uptrend (price above key moving averages and positive MACD), though overbought signals temper the technical score. Valuation is moderately supportive with a mid-teens P/E.
Positive Factors
Earnings Recovery
The return to positive earnings and stronger revenue indicate improving demand and operating performance. If maintained, this recovery can rebuild profitability and provide a more stable base for investment and debt servicing.
Negative Factors
Elevated Leverage
High leverage reduces financial flexibility and increases sensitivity to weaker margins, cyclical demand or higher funding costs. It also leaves a smaller balance-sheet cushion for absorbing operational setbacks or financing further growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Earnings Recovery
The return to positive earnings and stronger revenue indicate improving demand and operating performance. If maintained, this recovery can rebuild profitability and provide a more stable base for investment and debt servicing.
Read all positive factors
Ferronordic AB (FNM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.15B
Dividend YieldN/A
Average Volume (3M)33.01K
Price to Earnings (P/E)14.6
Beta (1Y)0.18
Revenue Growth4.42%
EPS GrowthN/A
CountrySE
Employees800
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)5.42
Shares Outstanding14,532,434
10 Day Avg. Volume86,621
30 Day Avg. Volume33,014
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.48
Price to Sales (P/S)0.14
P/FCF Ratio0.98
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)5.65
Revenue Forecast (FY)kr4.83B
Ferronordic AB Business Overview & Revenue Model
Company Description
Ferronordic AB (publ) operates in the heavy machinery sector, providing sales, rental, and maintenance services for construction equipment, trucks, and other specialized machines. The company's operations are concentrated in Russia, Kazakhstan, an...
How the Company Makes Money
Ferronordic makes money primarily through (1) sales of construction equipment and (2) recurring aftermarket/services revenue tied to the installed base of equipment.
1) Equipment sales (one-time, transactional revenue)
- The company generates rev...
Ferronordic AB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.96B | 4.57B | 4.72B | 2.86B | 1.97B | 6.21B |
| Gross Profit | 863.00M | 792.00M | 853.00M | 377.00M | 250.00M | 1.11B |
| EBITDA | 575.00M | 471.00M | 470.00M | 4.00M | 351.00M | -53.00M |
| Net Income | 79.00M | -199.00M | -89.00M | -107.00M | 197.00M | 339.00M |
Balance Sheet | ||||||
| Total Assets | 4.61B | 3.99B | 4.94B | 4.71B | 3.22B | 3.97B |
| Cash, Cash Equivalents and Short-Term Investments | 164.00M | 153.00M | 363.00M | 426.00M | 1.69B | 768.00M |
| Total Debt | 2.01B | 1.82B | 2.34B | 1.78B | 731.00M | 966.00M |
| Total Liabilities | 3.20B | 2.69B | 3.44B | 3.08B | 1.34B | 2.87B |
| Stockholders Equity | 1.41B | 1.31B | 1.50B | 1.62B | 1.87B | 1.10B |
Cash Flow | ||||||
| Free Cash Flow | 125.06M | 642.00M | 275.00M | -176.00M | -137.00M | 209.00M |
| Operating Cash Flow | 324.43M | 717.00M | 340.00M | -27.00M | 215.00M | 457.00M |
| Investing Cash Flow | -170.84M | -32.00M | 33.00M | -1.22B | 521.00M | -370.00M |
| Financing Cash Flow | -157.64M | -851.00M | -462.00M | -21.00M | 168.00M | 64.00M |
Ferronordic AB Technical Analysis
Positive
45.05
Price Trends
66.42
Positive
57.23
Positive
51.73
Positive
Market Momentum
4.77
Negative
63.81
Neutral
71.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FNM, the sentiment is Positive. The current price of 45.05 is below the 20-day moving average (MA) of 72.57, below the 50-day MA of 66.42, and below the 200-day MA of 51.73, indicating a bullish trend. The MACD of 4.77 indicates Negative momentum. The RSI at 63.81 is Neutral, neither overbought nor oversold. The STOCH value of 71.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:FNM.
Ferronordic AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr23.43B | 35.09 | 23.72% | 1.22% | 6.64% | 12.05% | |
71 Outperform | kr88.97B | 33.18 | 15.37% | 1.26% | 2.02% | -0.48% | |
68 Neutral | kr91.18B | 40.95 | 28.86% | 0.94% | 3.78% | 13.61% | |
67 Neutral | kr25.32B | 35.95 | 16.99% | 0.94% | 4.63% | 18.42% | |
61 Neutral | kr66.09B | 27.96 | 10.47% | 1.06% | -0.16% | -0.47% | |
58 Neutral | kr1.15B | 14.58 | ― | ― | 4.42% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:FNM
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64.75%
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Ferronordic AB Corporate Events
Ferronordic Delivers Strong Q2 on U.S. Surge and Broad Earnings Recovery
Aug 12, 2026
Ferronordic AB reported a strong second quarter of 2026 with group revenue up 43% to SEK 1,558m and operating profit swinging to SEK 68m from a loss, helped by improved cost control, higher aftermarket sales and technology-driven efficiencies. Net...
Ferronordic Sets August Investor Briefing on Q2 2026 Results
Jul 29, 2026
Ferronordic AB, a Stockholm-listed dealer of construction equipment and trucks, represents major OEMs including Volvo, Renault, Hitachi and Sandvik across ten U.S. states, Kazakhstan and parts of Germany. With roughly 40 branches and over 800 empl...
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.