FormPipe Software AB (SE:FPIP)
:FPIP
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FormPipe Software AB
(FPIP)
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Rating:53Neutral
Price Target:
kr19.00
▼(-26.92% Downside)
Action:ReiteratedDate:05/05/26
The score is held up by a very strong, low-debt balance sheet, but it is pressured by weakening fundamentals (notably the sharp TTM revenue decline and weak cash-flow conversion), bearish technical trend signals (below major moving averages with negative MACD), and a high P/E that limits valuation support despite a modest dividend yield.
Positive Factors
Balance Sheet Strength
Very low leverage and a large equity base materially reduce financial risk and provide durable optionality. Over the next 2–6 months this balance sheet flexibility supports continued investment in product, selective M&A or absorbing shortfalls without raising external debt, preserving strategic choices.
Negative Factors
Declining Revenue
A sharp TTM revenue decline materially weakens scale economics and can erode pricing power and bargaining leverage with customers. Falling top line limits reinvestment capacity and stresses operating leverage, making sustained margin performance harder to rely on over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low leverage and a large equity base materially reduce financial risk and provide durable optionality. Over the next 2–6 months this balance sheet flexibility supports continued investment in product, selective M&A or absorbing shortfalls without raising external debt, preserving strategic choices.
Read all positive factors
FormPipe Software AB (FPIP) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.01B
Dividend Yield1.92%
Average Volume (3M)33.84K
Price to Earnings (P/E)47.1
Beta (1Y)0.09
Revenue Growth-40.78%
EPS Growth2331.24%
CountrySE
Employees262
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)9.15
Shares Outstanding54,258,120
10 Day Avg. Volume41,383
30 Day Avg. Volume33,839
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.66
Price to Sales (P/S)5.95
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)0.56
Revenue Forecast (FY)kr260.45M
FormPipe Software AB Business Overview & Revenue Model
Company Description
Formpipe Software AB (publ), a software company, develops and provides content services in Sweden, Denmark, the United Kingdom, Germany, the United States, and internationally. The company provides various software products that are used to create...
How the Company Makes Money
null...
FormPipe Software AB Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
88
Very Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 321.41M | 242.40M | 528.95M | 525.16M | 485.10M | 473.20M |
| Gross Profit | 136.56M | 146.43M | 294.12M | 295.74M | 256.69M | 277.44M |
| EBITDA | 83.53M | 35.47M | 92.21M | 112.73M | 69.69M | 134.97M |
| Net Income | 496.52M | 495.07M | 17.09M | 36.91M | 8.76M | 50.44M |
Balance Sheet | ||||||
| Total Assets | 1.06B | 1.07B | 854.27M | 835.97M | 782.54M | 704.25M |
| Cash, Cash Equivalents and Short-Term Investments | 816.27M | 821.34M | 46.52M | 39.74M | 4.78M | 18.07M |
| Total Debt | 1.49M | 1.77M | 24.96M | 37.84M | 44.21M | 13.72M |
| Total Liabilities | 186.09M | 195.36M | 368.10M | 356.52M | 340.53M | 274.61M |
| Stockholders Equity | 869.75M | 870.12M | 486.17M | 479.44M | 442.02M | 429.64M |
Cash Flow | ||||||
| Free Cash Flow | 34.47M | 0.00 | 48.32M | 50.94M | 19.12M | 40.28M |
| Operating Cash Flow | 10.29M | 34.74M | 109.38M | 110.68M | 80.72M | 99.03M |
| Investing Cash Flow | 814.22M | 803.55M | -62.72M | -59.03M | -91.85M | -58.75M |
| Financing Cash Flow | -44.51M | -40.64M | -44.31M | -18.12M | -6.29M | -84.63M |
FormPipe Software AB Technical Analysis
Positive
26.00
Price Trends
22.89
Positive
24.28
Negative
25.61
Negative
Market Momentum
0.14
Negative
55.14
Neutral
60.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FPIP, the sentiment is Positive. The current price of 26 is above the 20-day moving average (MA) of 22.96, above the 50-day MA of 22.89, and above the 200-day MA of 25.61, indicating a neutral trend. The MACD of 0.14 indicates Negative momentum. The RSI at 55.14 is Neutral, neither overbought nor oversold. The STOCH value of 60.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:FPIP.
FormPipe Software AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr465.25M | 17.91 | ― | 3.48% | 4.11% | 13.90% | |
68 Neutral | kr2.94B | 22.71 | 32.28% | 1.41% | 6.61% | 20.90% | |
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% | |
44 Neutral | kr2.43B | -15.04 | ― | ― | 13.69% | 26.98% |
* Technology Sector Average
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FormPipe Software AB Corporate Events
Formpipe AGM Approves New Incentive Plan, Name Change to Lasernet Group AB
Apr 29, 2026
Formpipe Software AB’s 2026 AGM approved the Board’s proposal to retain earnings from the 2025 financial year and not distribute a dividend, while granting discharge from liability to the directors and CEO and re-electing the existing ...
Lasernet boosts margins after restructuring as 2026 begins
Apr 29, 2026
Lasernet opened 2026 with flat net sales of 61 MSEK but sharply improved profitability, as adjusted EBIT jumped to 12 MSEK from 1 MSEK a year earlier and the margin rose to 19% from 1%. Recurring revenue grew organically by 11%, profit after tax s...
Formpipe Software Releases 2025 Annual Report Ahead of Planned Lasernet Rebrand
Apr 3, 2026
Formpipe Software AB, which plans to rebrand as Lasernet Group, develops software to connect data and people by automating and digitizing business workflows for a global client base and maintains offices across several key European markets as well...
Formpipe Steps Up Share Buybacks Ahead of Rebrand to Lasernet Group
Mar 30, 2026
Formpipe Software AB repurchased 31,900 of its own shares on Nasdaq Stockholm between 23 and 25 March 2026 under an ongoing buyback programme, at an average price of SEK 22.58. The transactions, executed by ABG Sundal Collier AB under EU market ab...
Formpipe Software Calls 2026 AGM, Proposes New Incentive Program
Mar 27, 2026
Formpipe Software AB has called its Annual General Meeting for 29 April 2026 at its Stockholm headquarters, offering shareholders the option to vote in advance by post, attend in person or be represented by proxy. To participate, shareholders must...
Formpipe ramps up share buybacks ahead of Lasernet rebrand
Mar 24, 2026
Formpipe Software AB repurchased 89,300 of its own shares on Nasdaq Stockholm between 16 and 20 March 2026 as part of an ongoing buyback programme authorized by shareholders and executed by ABG Sundal Collier AB. Following these trades, the compan...
Formpipe Steps Up Share Buybacks Ahead of Transition to Lasernet Group
Mar 17, 2026
Formpipe Software AB has repurchased 86,100 of its own shares on Nasdaq Stockholm during the week of 9–13 March 2026, at an average price of SEK 22.71, under a board-initiated buyback programme conducted by ABG Sundal Collier AB in accordanc...
Formpipe accelerates share buybacks to optimise capital structure
Mar 10, 2026
Formpipe Software AB has continued its ongoing share buyback programme, repurchasing 81,000 of its own shares on Nasdaq Stockholm during the period 2–6 March 2026 at an average price of SEK 23.30. Following these transactions, the company ho...
Formpipe Advances Share Buyback Programme With SEK 1.6 Million Repurchase
Mar 3, 2026
Formpipe Software AB has repurchased 66,900 of its own shares on Nasdaq Stockholm between 23 and 27 February 2026 as part of an ongoing share buyback programme authorized by the 2025 Annual General Meeting. The buybacks, executed by ABG Sundal Col...
Formpipe pivots to pure Lasernet play after Public divestment, boosts margins and cash
Feb 24, 2026
Formpipe Software reported fourth-quarter 2025 net sales of SEK 60 million, with currency-adjusted organic growth of 7% and recurring revenue accounting for 91% of turnover, underscoring the strength of its subscription-based Lasernet business. Ad...
Formpipe launches share buy-back program to optimize capital structure
Feb 23, 2026
Formpipe Software AB’s board has resolved to initiate a share buy-back program on Nasdaq Stockholm under an existing AGM mandate, aiming to repurchase up to MSEK 135 of its own shares, capped at 10 percent of total shares outstanding. The pr...
Formpipe pivots to Lasernet core after Public unit sale and boosts margins in 2025
Feb 20, 2026
Formpipe Software AB reported modest fourth-quarter 2025 revenue growth, with net sales up 2% and currency-adjusted organic growth of 7%, while recurring revenue accounted for 91% of turnover and profitability improved sharply, as adjusted EBIT sw...
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.