MilDef Group AB (MILDEF) AI Stock Analysis

• Market Cap: €6.88B
• Dividend Yield: 0.34%
• Average Volume (3M): 496.43K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: 24.94%
• EPS Growth: -578.00%
• Country: SE
• Employees: 327
• Sector: Industrials
• Sector Strength: 83
• Industry: Aerospace & Defense
• EPS (TTM): 0.20
• Shares Outstanding: 47,114,895
• 10 Day Avg. Volume: 412,924
• 30 Day Avg. Volume: 496,425
• PEG Ratio: 0.06
• Price to Book (P/B): 4.60
• Price to Sales (P/S): 4.22
• P/FCF Ratio: 40.89
• 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: €170.12
• Price Target Upside: 13.87% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 46 Neutral
• Price Target: kr170.00 ▲(13.79% Upside)

MilDef Group AB's overall stock score is primarily impacted by its mixed financial performance and weak technical indicators. The company's valuation is also a concern due to its negative P/E ratio. The lack of earnings call data and corporate events means these factors do not influence the score.

MilDef Group AB Business Overview & Revenue Model

Company Description

MilDef Group AB (publ), through its subsidiaries, develops, manufactures, and sells rugged IT solutions and special electronics primarily to customers in the security and defense sectors. The company's IT solutions include laptops, tablets, handhelds, concepts, tracking solutions, servers, switches, routers, intelligent displays, and accessories. It has operations in Sweden, Norway, Finland, the United Kingdom, and the United States. The company was founded in 1997 and is headquartered in Helsingborg, Sweden.

How the Company Makes Money

MilDef Group AB generates revenue primarily through the sale of its ruggedized hardware and integrated IT solutions to defense and security sectors. The company's key revenue streams include direct sales of its robust computing devices, such as laptops, tablets, and servers, which are specifically engineered for military and harsh environments. Additionally, MilDef earns income from providing customized solutions and services, such as system integration and ongoing support, which enhance the operational capabilities of its clients. Significant partnerships with defense agencies and organizations further contribute to its earnings by fostering long-term contracts and collaborative projects.

MilDef Group AB Financial Statement Overview

Summary

MilDef Group AB faces profitability challenges with negative margins despite revenue growth. The stable capital structure is overshadowed by inefficiencies in generating returns, as indicated by a negative ROE. Cash flow difficulties further impact financial health.

Income Statement

MilDef Group AB has shown revenue growth with a 9% increase in TTM revenue compared to the previous year. However, profitability metrics such as gross profit margin (48.9%) and net profit margin (-16%) highlight challenges. The negative EBIT and EBITDA margins indicate operational inefficiencies, suggesting a need for cost optimization.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.50 in the TTM, indicating manageable leverage. The equity ratio stands at 51.0%, showcasing a decent level of stability. However, the negative return on equity (-14.8%) signals inefficiencies in generating returns on shareholders' investments.

Cash Flow

MilDef Group AB's cash flow position is mixed, with a positive free cash flow in the TTM, though significantly lower than the previous year, indicating a -77.5% growth rate. The operating cash flow to net income ratio of 0.24 suggests challenges in converting earnings to cash, impacting liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.39B	1.20B	1.15B	738.80M	469.60M	398.50M
Gross Profit	662.30M	589.10M	556.30M	352.30M	210.10M	182.10M
EBITDA	411.90M	-36.10M	177.60M	60.60M	23.20M	67.00M
Net Income	-223.20M	-220.30M	69.00M	14.20M	-700.00K	42.50M
Balance Sheet
Total Assets	2.64B	1.68B	1.53B	1.39B	808.20M	367.90M
Cash, Cash Equivalents and Short-Term Investments	199.90M	530.40M	81.50M	59.90M	169.20M	46.80M
Total Debt	718.40M	220.40M	367.40M	314.70M	102.10M	66.70M
Total Liabilities	1.26B	581.90M	681.10M	606.00M	240.00M	235.30M
Stockholders Equity	1.39B	1.10B	844.60M	787.90M	568.20M	132.60M
Cash Flow
Free Cash Flow	44.10M	123.90M	8.70M	-94.80M	-71.90M	52.80M
Operating Cash Flow	59.60M	144.40M	54.50M	-76.80M	-55.50M	61.70M
Investing Cash Flow	-691.50M	-33.30M	-68.90M	-321.30M	-187.20M	-8.60M
Financing Cash Flow	726.00M	335.10M	38.50M	285.70M	362.90M	-14.40M

MilDef Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 149.40
• 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:MILDEF, the sentiment is Negative. The current price of 149.4 is below the 20-day moving average (MA) of 163.30, below the 50-day MA of 176.02, and below the 200-day MA of 173.85, indicating a bearish trend. The MACD of -8.87 indicates Positive momentum. The RSI at 36.16 is Neutral, neither overbought nor oversold. The STOCH value of 19.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MILDEF.

MilDef Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	£2.65B	12.66	3.41%	3.25%	2.42%	-22.46%
MILDEF	46 Neutral	€6.88B	―	-19.55%	0.34%	24.94%	-578.00%
0GWL	―	kr264.96B	51.13	14.05%	―	―	―
4IIA	―	€618.27M	24.65	8.65%	―	―	―
2F0	―	€641.88M	30.79	3.14%	―	―	―
7X9	―	€142.30M	―	-54.63%	―	―	―
1G2	―	€142.07M	―	-128.43%	―	―	―

MilDef Group AB Corporate Events

MilDef Group AB Sees Strong Order Growth Amid Profit Challenges

MilDef Group AB reported a significant increase in order intake for the second quarter of 2025, with a 116% rise driven by both organic and acquired growth. However, net sales and profits were lower than expected, impacted by lower organic net sales and the acquisition of roda, which affected the gross margin. Notable contracts include a SEK 45 million deal with a global defense group and a SEK 126 million order from the Swedish Defence Materiel Administration, emphasizing MilDef’s role in digitalizing defense operations.

MilDef Group AB: Strengthening Market Position in Rugged IT Solutions

MilDef Group AB specializes in providing rugged IT solutions for defense and critical infrastructure, with a strong presence in multiple countries. The company’s focus on protecting critical information systems positions it as a key player in the defense and government sectors, potentially strengthening its market position and offering growth opportunities.

MilDef Announces Capital Markets Day for September 2025

MilDef has announced a Capital Markets Day scheduled for September 18, 2025, in Stockholm, aimed at investors, analysts, and media. The event will feature presentations by the company’s management, including CEO Daniel Ljunggren, covering MilDef’s growth strategies, product portfolio, and financial position. This event underscores MilDef’s commitment to transparency and engagement with stakeholders, highlighting its strategic expansion in Europe through acquisitions.

MilDef Group AB Announces AGM Resolutions and Strategic Initiatives

MilDef Group AB held its Annual General Meeting (AGM), where key resolutions included the adoption of the 2024 financial statements and the approval of a SEK 0.50 per share dividend. The AGM also saw the re-election and election of board members, approval of remuneration guidelines, and the introduction of a performance-based long-term incentive program for group management. Additionally, the board was authorized to issue new shares to support potential acquisitions and strengthen the company’s capital base.