INVISIO AB (IVSO) AI Stock Analysis

• Market Cap: kr12.03B
• Dividend Yield: 0.87%
• Average Volume (3M): 106.13K
• Price to Earnings (P/E): 57.7
• Beta (1Y): 0.98
• Revenue Growth: 5.69%
• EPS Growth: 4.82%
• Country: SE
• Employees: 294
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): -0.09
• Shares Outstanding: 46,179,634
• 10 Day Avg. Volume: 136,424
• 30 Day Avg. Volume: 106,133
• PEG Ratio: 0.57
• Price to Book (P/B): 12.21
• Price to Sales (P/S): 6.95
• P/FCF Ratio: 86.32
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: kr308.00 ▲(12.20% Upside)

INVISIO AB's overall stock score reflects strong financial performance, but is weighed down by bearish technical indicators and a high valuation. The lack of earnings call data and corporate events further limits the score.

Positive Factors

High profit margins

Sustained high gross and operating margins indicate durable pricing power and efficient cost structure in a niche market. This margin profile supports reinvestment into R&D, product upgrades and customer service, helping preserve competitive position over time.

Strong balance sheet

Very low leverage and a high equity ratio provide financial flexibility to fund R&D, support long procurement cycles, or pursue selective M&A without strain. High ROE shows efficient capital use, improving resilience against sector cyclicality over months.

Operating cash generation

Operating cash flow exceeding net income signals quality of earnings and reliable cash conversion from operations. This steady cash generation supports maintenance, service contracts and product development, sustaining core operations over the medium term.

Negative Factors

Slowing revenue growth

A recent decline in revenue growth suggests challenges in demand expansion or pricing in core markets. Over 2–6 months this can limit operating leverage benefits, pressure future margin expansion, and signal the need for renewed sales or product initiatives.

Weak free cash flow conversion

Negative FCF growth and modest FCF-to-income indicate difficulty turning profits into discretionary cash. Persisting weakness would constrain investments, upkeep of service offerings and strategic initiatives, increasing reliance on external funding for growth.

Customer concentration / sector exposure

Heavy dependence on defense and public-safety customers exposes revenue to government budgets, procurement cycles and political shifts. This structural concentration can extend sales cycles and create episodic revenue swings, limiting predictable growth in the medium term.

INVISIO AB Business Overview & Revenue Model

Company Description

Invisio AB (publ) develops and sells personal communication and hearing protection systems for professionals in the defense and military, law enforcement, and security sectors in Sweden, Europe, North America, and internationally. The company offers headsets, control units, intercom systems, accessories and remote push-to-talk units, and cables. Its products are used in high noise and hearing protection applications. The company sells its products under the INVISIO, and Racal Acoustics brands. Invisio AB (publ) markets and sells its products through partners and resellers. The company was formerly known as INVISIO Communications AB (publ) and changed its name to Invisio AB (publ) in June 2010. Invisio AB (publ) was founded in 1999 and is based in Malmö, Sweden.

How the Company Makes Money

INVISIO AB generates revenue primarily through the sale of its communication and hearing protection products, which are sold to government agencies, military organizations, and private security firms. The company operates a direct sales model, supported by a network of distributors and partners that expand its reach in various markets. Key revenue streams include product sales, maintenance services, and upgrades for existing systems. INVISIO also benefits from strategic partnerships with defense contractors and technology companies, which can enhance its product offerings and open new market opportunities. The company's focus on innovation and adaptation to changing customer needs is a significant factor contributing to its earnings.

INVISIO AB Financial Statement Overview

Summary

INVISIO AB demonstrates strong profitability with healthy EBIT and EBITDA margins and a robust balance sheet with low leverage. However, the decline in revenue growth and challenges in free cash flow generation are areas of concern.

Income Statement

INVISIO AB's income statement shows strong profitability with a gross profit margin of 58.57% and a net profit margin of 14.79% for the TTM period. However, there is a concern with the revenue growth rate, which has declined by 3.54% in the TTM period. The EBIT and EBITDA margins remain healthy at 20.30% and 23.47%, respectively, indicating efficient operations despite the revenue dip.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.079, suggesting minimal leverage. The return on equity is robust at 25.81%, indicating effective use of equity to generate profits. The equity ratio stands at 72.54%, demonstrating a strong equity base relative to total assets, which enhances financial stability.

Cash Flow

Cash flow analysis reveals a mixed picture. The operating cash flow to net income ratio is strong at 1.25, indicating good cash generation relative to net income. However, free cash flow growth is negative at -11.8%, and the free cash flow to net income ratio is moderate at 0.48, suggesting some challenges in converting income into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.65B	1.81B	1.24B	775.50M	593.00M	532.00M
Gross Profit	952.70M	1.01B	747.30M	449.80M	340.40M	309.10M
EBITDA	340.90M	463.40M	285.60M	96.10M	52.10M	103.40M
Net Income	209.40M	306.40M	178.40M	44.50M	14.50M	61.20M
Balance Sheet
Total Assets	1.42B	1.42B	1.05B	799.90M	690.00M	515.80M
Cash, Cash Equivalents and Short-Term Investments	376.40M	242.40M	224.90M	127.10M	134.80M	157.70M
Total Debt	79.00M	36.90M	37.80M	89.80M	119.30M	23.80M
Total Liabilities	390.30M	395.00M	332.60M	290.00M	272.50M	136.90M
Stockholders Equity	1.03B	1.03B	720.40M	509.90M	417.50M	378.90M
Cash Flow
Free Cash Flow	169.30M	145.50M	151.30M	8.20M	72.40M	60.30M
Operating Cash Flow	305.20M	157.00M	204.70M	41.70M	91.00M	85.60M
Investing Cash Flow	-156.80M	-77.90M	-55.00M	-33.50M	-191.90M	-25.40M
Financing Cash Flow	-8.70M	-70.70M	-48.50M	-25.10M	73.00M	-39.50M

INVISIO AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 274.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:IVSO, the sentiment is Negative. The current price of 274.5 is below the 20-day moving average (MA) of 286.90, above the 50-day MA of 271.35, and below the 200-day MA of 318.40, indicating a bearish trend. The MACD of -2.00 indicates Positive momentum. The RSI at 38.51 is Neutral, neither overbought nor oversold. The STOCH value of 3.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:IVSO.

INVISIO AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HMS	67 Neutral	kr20.12B	46.28	12.77%	―	13.97%	20.46%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
EPEN	60 Neutral	kr3.43B	22.92	9.68%	1.11%	-1.85%	-16.44%
KEBNI.B	58 Neutral	kr446.00M	76.17	8.68%	―	9.30%	―
IVSO	57 Neutral	kr12.03B	57.72	21.88%	0.87%	5.69%	4.82%
MAVEN	53 Neutral	kr257.28M	-37.78	-5.81%	―	-9.79%	-144.24%
GAPW.B	47 Neutral	kr525.44M	-9.70	-52.89%	―	53.78%	19.38%

INVISIO AB Corporate Events

INVISIO Joins Nasdaq Stockholm’s Large Cap List Amid Rapid Growth

INVISIO AB will be upgraded to Nasdaq Stockholm’s Large Cap segment starting January 2, 2026, reflecting the company’s strong market performance with a market capitalization exceeding EUR 1 billion. The move underscores INVISIO’s rapid growth, including a 45% average revenue growth rate from 2022 to 2024 and stable profitability, highlighting its strengthened industry positioning and commitment to sustained growth in the defense and public safety sectors.

The most recent analyst rating on (SE:IVSO) stock is a Hold with a SEK255.00 price target. To see the full list of analyst forecasts on INVISIO AB stock, see the SE:IVSO Stock Forecast page.

INVISIO Restructures Management to Drive Growth and Strategic Development

INVISIO AB has announced a restructuring of its group management to bolster strategic development and growth, effective January 1, 2026. Joakim Birgersson will assume the new role of Senior Vice President Strategy & New Growth Initiatives, while Roger Kristiansson Skaaby and Mathias Rosvall will join the management team in key operational and sales roles. These changes are aimed at enhancing INVISIO’s focus on revenue growth and positioning the company to capitalize on market opportunities. The departure of Carsten Michael Aagesen, a key figure in the company’s sales success, marks a significant transition, with the company expressing gratitude for his contributions.

The most recent analyst rating on (SE:IVSO) stock is a Hold with a SEK255.00 price target. To see the full list of analyst forecasts on INVISIO AB stock, see the SE:IVSO Stock Forecast page.

INVISIO Secures SEK 190 Million Order for Communication Systems

INVISIO AB has secured a SEK 190 million order from a European customer for its Intercom and Dismounted Soldier systems, highlighting the growing demand for its communication solutions. This order, set for delivery by Q1 2026, underscores INVISIO’s capability to meet high expectations in challenging conditions and reflects its competitive advantage in inventory management and customer collaboration.

The most recent analyst rating on (SE:IVSO) stock is a Hold with a SEK325.00 price target. To see the full list of analyst forecasts on INVISIO AB stock, see the SE:IVSO Stock Forecast page.

INVISIO AB Strengthens Market Position with Key Defense Agreements

INVISIO AB reported a strong order intake for the third quarter of 2025, highlighted by a significant 10-year framework agreement with the US Coast Guard worth up to SEK 930 million. Despite delivery delays impacting revenue and profitability, the company launched key products like the INVISIO T30 headset and H-series smart hubs, enhancing its position in the defense market. A new agreement with the Dutch Ministry of Defense further bolsters its order book, indicating strategic growth and market expansion.

The most recent analyst rating on (SE:IVSO) stock is a Hold with a SEK349.00 price target. To see the full list of analyst forecasts on INVISIO AB stock, see the SE:IVSO Stock Forecast page.