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

• Market Cap: kr1.81B
• Dividend Yield: 2.34%
• Average Volume (3M): 58.03K
• Price to Earnings (P/E): 9.3
• Beta (1Y): 0.10
• 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): 0.57
• Revenue Forecast (FY): kr3.69B

• Rating: 58 Neutral
• Price Target: kr13.00 ▲(46.07% Upside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is driven primarily by stable fundamentals with strong recent cash generation and a healthier balance sheet, but is capped by weak profitability and flat-to-declining revenue. Technically, the uptrend is supportive, though overbought signals add near-term risk. Valuation is the biggest drag due to an extremely high P/E relative to current earnings power and only a modest dividend yield.

Positive Factors

Strong cash generation

Consistent positive operating and free cash flow, with a meaningful improvement in 2025 versus 2024, provides durable financial flexibility. This supports working-capital needs, funds organic investment or bolt-on M&A, and cushions the business during periods of weak accounting earnings.

Conservative balance sheet

Low leverage and a materially improved capital structure (debt-to-equity ~0.21) reduce refinancing and solvency risk. A substantial equity base gives the company capacity to absorb shocks, invest in growth initiatives, and pursue strategic options without stressing liquidity in the medium term.

Diversified branded portfolio & channels

A portfolio focused on branded health-and-wellness products across grocery, pharmacy, and e-commerce channels provides structural resilience. Multi-channel distribution and category exposure (organic, plant-based, supplements) support stable shelf presence, channel diversification, and long-term brand equity.

Negative Factors

Very thin profitability

Extremely slim net margins and a weak income-statement score indicate limited pricing power and compressible profits. Persistently low margins constrain reinvestment capacity, limit ability to weather cost inflation, and mean modest returns to shareholders even if top-line stabilizes.

Flat-to-declining revenue trend

A structural pattern of flat or slightly declining revenue reduces operating leverage and makes margin expansion difficult. Without clear growth drivers, the company faces tougher choices: sacrificing margin via promotions to defend share or investing to regain growth, both of which pressure medium-term returns.

Low returns and earnings volatility

Near‑breakeven ROE and volatility between reported earnings and cash generation signal weak returns on capital and inconsistent earnings quality. This makes forecasting performance harder, undermines long-term value creation, and may limit the impact of balance-sheet strength on shareholder outcomes.

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 makes money by selling branded health-and-wellness products to retailers and distributors, generating revenue primarily from wholesale shipments into grocery chains, pharmacies/health retailers, and e-commerce/other resellers. Its core revenue streams are (1) Natural foods: sales of organic/plant-based and other health-positioned food products, and (2) Dietary supplements: sales of vitamins, minerals, and related supplement products. Earnings are driven by unit volumes sold, product mix (higher-margin categories and premium/organic positioning), pricing, and promotional activity with retail partners. The company’s profitability also depends on sourcing and manufacturing/contract-manufacturing costs, supply chain efficiency, and its ability to maintain brand strength and shelf presence (or online visibility) in key retail channels. Specific named partnerships or customer contracts are not available (null).

Midsona AB Class B Financial Statement Overview

Summary

Overall fundamentals are stable but not strong: cash flow is a key positive (solid and improving free cash flow; Cash Flow Score 74) and the balance sheet looks manageable with improved leverage (Balance Sheet Score 68). This is offset by weak income statement performance (Income Statement Score 42) with flat-to-down revenue and very thin net margins, indicating limited profitability/price power.

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 11.40, below the 50-day MA of 10.33, and above the 200-day MA of 8.83, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 66.19 is Neutral, neither overbought nor oversold. The STOCH value of 66.44 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
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
MSON.B	58 Neutral	kr1.81B	9.34	-0.17%	2.34%	-2.95%	-112.90%
SKMO	58 Neutral	kr569.80M	58.47	―	2.43%	―	―
NNH	57 Neutral	kr116.47M	17.54	―	―	5.91%	―
SNX	56 Neutral	kr544.07M	21.64	―	0.51%	22.02%	127.51%
HUMBLE	50 Neutral	kr3.27B	58.18	0.87%	―	5.99%	-38.16%

Midsona AB Class B Corporate Events

Midsona Books EUR 5.98 Million Insurance Payout After Spanish Plant Fire

Midsona AB has received EUR 5.98 million in insurance compensation for property damage related to the July 2025 fire at its Castellcir production facility in Spain. Of this amount, EUR 600,000 was previously booked in the third quarter of 2025, while the remaining compensation will be recognised as an item affecting comparability in the first quarter of 2026, with no further property damage claims expected.

The insurance component covering business interruption from the same incident remains under review, leaving potential additional financial effects still uncertain. The payout strengthens Midsona’s balance sheet following the fire damage and clarifies the near-term accounting impact, while investors and other stakeholders now await the outcome of the ongoing assessment of business interruption coverage.

The most recent analyst rating on ($SE:MSON.B) stock is a Hold with a SEK12.00 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 Nomination Committee Backs Continuity on Board Ahead of 2026 AGM

Midsona AB’s Nomination Committee will propose to the 6 May 2026 Annual General Meeting that the Board of Directors remain at six members without deputies, with the re-election of Patrik Andersson, Tomas Bergendahl, Anna-Karin Falk, Sandra Kottenauer, Anders Svensson and Johan Wester, while current director Jari Latvanen has declined re-election. The committee will also propose Patrik Andersson be reappointed as chairman, a move backed by a majority of shareholders’ voting rights and unanimously supported for the chair role, signaling continuity in governance ahead of the Malmö AGM and suggesting a stable strategic direction for stakeholders.

The most recent analyst rating on ($SE:MSON.B) stock is a Hold with a SEK11.00 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 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.