Midsona AB Class B (MSON.B) AI Stock Analysis

• Market Cap: kr1.43B
• Dividend Yield: 2.34%
• Average Volume (3M): 58.03K
• Price to Earnings (P/E): 143.3
• Beta (1Y): 0.14
• Revenue Growth: -2.95%
• EPS Growth: -112.90%
• Country: SE
• Employees: 768
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.23
• Shares Outstanding: 145,004,300
• 10 Day Avg. Volume: 108,684
• 30 Day Avg. Volume: 58,033
• PEG Ratio: -1.57
• Price to Book (P/B): 0.42
• Price to Sales (P/S): 0.34
• P/FCF Ratio: 6.14
• 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: 63 Neutral
• Price Target: kr10.50 ▲(17.98% Upside)

Overall score is held back primarily by weak financial performance (steep revenue decline and very low margins) and a demanding valuation (P/E 132.27). These negatives are partly offset by favorable technicals, with the stock trading above major moving averages and positive momentum indicators.

Positive Factors

Free Cash Flow Strength

Consistent and improving free cash flow provides durable financial flexibility: it funds working capital, product development, and distribution without relying on new debt or equity. This resilience supports strategic initiatives and downside protection across multi-quarter cycles.

Improved Balance Sheet / Low Leverage

A materially lower debt-to-equity ratio and reduced total debt materially lower financial risk, allowing the company to absorb shocks, invest in brands or M&A, and sustain operations. Strong equity relative to assets supports long-term stability and capital allocation optionality.

Market Position in Organic & Multi-Channel Distribution

A diversified go-to-market model across retail, e-commerce and wholesale and a portfolio focused on organic/natural products taps a durable secular trend. Broad channel access and brand partnerships increase reach, lowering concentration risk and supporting steady demand over time.

Negative Factors

Weak Revenue Growth

Negative multi-year revenue growth erodes scale advantages and constrains margin recovery. Persistently shrinking top line makes fixed-cost absorption harder, limits reinvestment capacity, and pressures long-term growth prospects absent clear product or market share gains.

Very Thin Profitability / Low Margins

Extremely low net margins imply limited pricing power and exposure to input-cost swings. With profits near breakeven, the business has a narrow buffer for inflation or competitive pressure, reducing its ability to self-fund initiatives and increasing reliance on operational improvements.

Low Returns on Equity and Earnings Quality Issues

ROE near breakeven signals the company is not generating attractive returns on invested capital. Coupled with volatile earnings versus cash flow, this indicates earnings quality issues that weaken long-term capital compounding and make sustainable value creation more uncertain.

Midsona AB Class B Business Overview & Revenue Model

Company Description

Midsona AB (publ) develops, produces, and markets organic products, consumer health products, and health foods in Sweden, Norway, Finland, Denmark, Spain, France, and Germany. It offers vegetable proteins, including fresh plant-based products under the Vegetalia brand name; rice, cereal, flakes, dried fruits, nuts, etc. under the Davert brand name; nuts, kernels, dried fruits, and berries under the Earth Control brand; dry fruits, nuts, oils, spices, fruit creams, muesli, rice, and pastas, as well as hair and body care products under the Urtekram brand name; and oils, grains, pastas, bouillons, and various flours under the Kung Markatta brand name. The company also provides grains, flakes, seeds, vegetables, pasta, and rice under the Happy Bio brand name; corn cakes, rice cakes, dietary supplements, and teas under the Friggs brand name; breads, beverages, cold cuts, dinners, accessories, pasta sauces, pesto, oils, sugar, syrups, nuts, seeds, flours, and teas under the Helios brand name; and roasted grains and cereals under the Celnat brand name. It sells its products through pharmacies, grocery trade, health food retailers, other specialist retailers, and other sales channels, as well as actors in food service market. The company was founded in 1892 and is headquartered in Malmö, Sweden.

How the Company Makes Money

Midsona generates revenue through several key streams, primarily by selling its health and wellness products across various channels, including retail, e-commerce, and wholesale. The company's revenue model is supported by a range of brand collaborations and partnerships with distributors and retailers, allowing it to expand its market reach. Additionally, Midsona benefits from a growing consumer trend towards organic and natural products, which enhances its sales potential. The company also invests in product innovation to meet changing consumer preferences, further driving its revenue growth.

Midsona AB Class B Financial Statement Overview

Summary

Cash flow is a key strength (solid and improving free cash flow), and leverage is manageable with improved debt-to-equity. Offsetting this, revenue is flat-to-down and profitability is very thin in the latest year, with margins still well below earlier periods.

Income Statement

Revenue has been broadly flat-to-down over time, with declines in the most recent annual period (down ~0.8%). Profitability has recovered from the deep loss year (2022) to positive results in 2024–2025, and gross margin improved versus 2022–2023. However, earnings quality remains weak in the latest year: net profit is very thin (about 0.3% margin in 2025) and operating margins are still well below 2020–2021 levels, indicating limited pricing power and/or cost pressure.

Balance Sheet

Leverage looks manageable and has improved materially versus 2020–2021, with debt-to-equity now around 0.21 (2025) and total debt lower than prior peaks. Equity remains substantial relative to the asset base, supporting balance-sheet stability. The key weakness is low returns on equity in recent years (near breakeven in 2025), suggesting that while the capital structure is not stressed, the company is not currently generating strong profitability from its equity base.

Cash Flow

Cash generation is a clear strength: operating cash flow and free cash flow are solidly positive in recent years, and free cash flow improved meaningfully in 2025 versus 2024. Cash flow has also stayed positive even in weaker earnings periods, which supports financial flexibility. The main concern is the uneven relationship between accounting profit and cash flow (including periods of losses and very low earnings), pointing to volatility in working capital and/or non-cash items that can make reported profitability less consistent.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.63B	3.73B	3.79B	3.90B	3.77B
Gross Profit	1.03B	1.07B	959.00M	878.00M	1.01B
EBITDA	206.00M	285.00M	183.00M	-306.00M	309.00M
Net Income	10.00M	47.00M	-53.00M	-501.00M	89.00M
Balance Sheet
Total Assets	4.39B	4.54B	4.60B	4.90B	5.29B
Cash, Cash Equivalents and Short-Term Investments	316.00M	141.00M	235.00M	121.00M	53.00M
Total Debt	615.00M	592.00M	731.00M	895.00M	1.49B
Total Liabilities	1.46B	1.47B	1.61B	1.82B	2.41B
Stockholders Equity	2.93B	3.07B	2.99B	3.08B	2.88B
Cash Flow
Free Cash Flow	201.00M	118.00M	312.00M	168.00M	-123.00M
Operating Cash Flow	229.00M	142.00M	343.00M	203.00M	-64.00M
Investing Cash Flow	-22.00M	-25.00M	-18.00M	-29.00M	-175.00M
Financing Cash Flow	-29.00M	-206.00M	-209.00M	-108.00M	94.00M

Midsona AB Class B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.90
• 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:MSON.B, the sentiment is Positive. The current price of 8.9 is below the 20-day moving average (MA) of 8.93, above the 50-day MA of 8.71, and above the 200-day MA of 8.46, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 66.96 is Neutral, neither overbought nor oversold. The STOCH value of 75.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MSON.B.

Midsona AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNX	67 Neutral	kr680.08M	31.60	―	0.51%	22.02%	127.51%
NNH	64 Neutral	kr102.22M	12.65	―	―	5.91%	―
MSON.B	63 Neutral	kr1.43B	143.31	-0.17%	2.34%	-2.95%	-112.90%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HUMBLE	59 Neutral	kr3.54B	80.34	0.87%	―	5.99%	-38.16%
SKMO	58 Neutral	kr635.80M	57.28	―	2.43%	―	―

Midsona AB Class B Corporate Events

Midsona Lifts Profitability and Cash Flow Despite Fire-Hit 2025, Raises Dividend and Tightens Cost Base

Midsona reported a mixed 2025, with slight organic sales growth in the fourth quarter driven by its own consumer brands, improved operating margins and a strong increase in operating cash flow that cut net debt to 1.1 times adjusted EBITDA. Full-year net sales and profits were dampened by the aftermath of a fire at its Spanish production facility and currency effects, yet underlying profitability before fire-related items improved, enabling the board to propose a higher dividend and to launch a restructuring programme targeting SEK 20 million in annual cost savings. Operationally, the Nordics led profit growth on the back of brand strength and distribution changes, North Europe traded profit for margin through product mix optimisation, and South Europe showed recovery supported by better production efficiency and growth in France. Governance changes continued with CFO Max Bokander’s planned departure and the appointment of incoming CFO Niclas Lundin, underscoring management’s focus on sharpening priorities and pursuing both organic and structural growth opportunities from a strengthened balance sheet.

The most recent analyst rating on ($SE:MSON.B) stock is a Hold with a SEK9.50 price target. To see the full list of analyst forecasts on Midsona AB Class B stock, see the SE:MSON.B Stock Forecast page.

Midsona Names Niclas Lundin as New CFO to Support Next Strategy Phase

Midsona AB has appointed Niclas Lundin as its new Chief Financial Officer, effective 1 March 2026, with Lundin joining the Group Management Team as current CFO Max Bokander departs at the end of March. Lundin brings extensive financial and leadership experience from roles at Danir Group and Skånemejerier, particularly within growth-oriented and food industry environments, and the company’s CEO highlighted that his background positions him to play a key role in executing Midsona’s strategy and driving its continued development.

The most recent analyst rating on ($SE:MSON.B) stock is a Hold with a SEK9.50 price target. To see the full list of analyst forecasts on Midsona AB Class B stock, see the SE:MSON.B Stock Forecast page.

Midsona Sets Date for Presentation of 2025 Year-End Results

Midsona has scheduled a presentation of its year-end report for 2025 on 30 January 2026, with the financial results to be published earlier the same day. President and CEO Henrik Hjalmarsson and CFO Max Bokander will present the report in English via webcast and teleconference, providing investors and other stakeholders an opportunity to ask questions and gain insights into the company’s performance and strategic progress.

The most recent analyst rating on ($SE:MSON.B) stock is a Hold with a SEK8.50 price target. To see the full list of analyst forecasts on Midsona AB Class B stock, see the SE:MSON.B Stock Forecast page.