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NAXS AB
(NAXS)
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Rating:47Neutral
Price Target:
kr36.00
▼(-6.74% Downside)
Action:Reiterated
Date:07/12/26
The score is held back primarily by weak financial performance: a sharp shift to significant losses and persistent negative operating/free cash flow outweigh the benefit of a debt-free, equity-supported balance sheet. Technical signals are mildly negative (below key moving averages with a negative MACD), while valuation is mixed due to a loss-making P/E and an unusually high dividend yield that may imply higher risk.
Positive Factors
Debt-free balance sheet
A debt-free capital structure materially lowers refinancing and solvency risk for a private-equity investor. It permits patient holding of illiquid fund investments through cycles, reduces interest expense vulnerability, and provides flexibility to support underlying fund commitments or withstand valuation volatility.
Negative Factors
Consistent negative cash generation
Persistent operating and free cash outflows erode balance-sheet flexibility over time and may force asset realizations or equity raises. For an investment vehicle reliant on realized distributions, sustained cash burn undermines the ability to fund commitments, pay reliable dividends, or cover operating costs without external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure materially lowers refinancing and solvency risk for a private-equity investor. It permits patient holding of illiquid fund investments through cycles, reduces interest expense vulnerability, and provides flexibility to support underlying fund commitments or withstand valuation volatility.
Read all positive factors
NAXS AB (NAXS) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr373.59M
Dividend Yield8.78%
Average Volume (3M)275.18K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue GrowthN/A
EPS Growth-567.36%
CountrySE
Employees1
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-11.29
Shares Outstanding11,077,585
10 Day Avg. Volume22,347
30 Day Avg. Volume275,180
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)0.75
Price to Sales (P/S)-2661.54
P/FCF Ratio-31.44
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)N/A
Revenue Forecast (FY)N/A
NAXS AB Business Overview & Revenue Model
Company Description
NAXS AB (publ) operates as an investment company, concentrating its efforts on indirect investments, particularly through fund of funds strategies and secondary market acquisitions. The firm explicitly avoids direct placements in pure debt instrum...
How the Company Makes Money
NAXS makes money primarily through investment returns generated by its portfolio of private equity fund interests and related private equity investments. Its main economic inflows typically come from (1) distributions and proceeds received when un...
NAXS AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -33.00M | -156.00K | -58.83M | 12.13M | 187.34M | 186.42M |
| Gross Profit | -49.27M | -23.44M | -61.49M | 9.61M | 185.98M | 183.80M |
| EBITDA | -126.86M | -27.89M | -66.57M | 4.36M | 180.09M | 177.41M |
| Net Income | -124.91M | -25.77M | -66.58M | 4.35M | 180.08M | 177.41M |
Balance Sheet | ||||||
| Total Assets | 528.11M | 566.41M | 809.88M | 923.76M | 960.67M | 824.41M |
| Cash, Cash Equivalents and Short-Term Investments | 61.67M | 65.88M | 203.60M | 209.23M | 211.67M | 265.52M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.09M | 10.07M | 1.47M | 1.70M | 1.42M | 1.56M |
| Stockholders Equity | 527.02M | 556.35M | 808.41M | 922.07M | 959.25M | 822.86M |
Cash Flow | ||||||
| Free Cash Flow | -20.33M | -13.21M | -10.11M | -9.52M | -14.30M | -10.24M |
| Operating Cash Flow | -20.33M | -13.21M | -10.11M | -9.52M | -14.30M | -10.24M |
| Investing Cash Flow | 134.62M | 101.66M | 51.67M | 48.60M | 4.14M | 89.92M |
| Financing Cash Flow | -250.87M | -226.13M | -47.08M | -41.54M | -43.68M | -33.46M |
NAXS AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr6.10B | 4.98 | ― | 6.23% | 2.88% | 256.86% | |
62 Neutral | kr720.93M | 18.67 | ― | ― | 15.39% | 35.31% | |
59 Neutral | kr1.87B | 2.97 | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | kr373.59M | -3.21 | ― | 8.78% | ― | -567.36% |
* General Sector Average
SE:NAXS
NAXS AB
36.20
-6.03
-14.28%
DE:7EU
Vo2 Cap Holding AB
0.15
-0.03
-14.53%
DE:SKVB
Catella AB Class B
1.72
-0.78
-31.22%
SE:CASE
Case Group AB
22.40
3.07
15.86%
SE:ORES
Investment AB Oresund
134.20
10.29
8.31%
SE:VEFAB
VEF AB
1.80
-0.13
-6.51%
NAXS AB Corporate Events
NAXS Continues Share Buybacks to Optimize Capital Structure and Boost Shareholder Value
Jun 15, 2026
NAXS AB has continued its ongoing share repurchase program, buying 3,301 of its own shares on Nasdaq Stockholm between 8 and 12 June 2026. The buybacks are executed by Pareto Securities AB and are intended to optimize capital management, enable ca...
NAXS Expands Share Buyback to Boost Capital Flexibility and Shareholder Value
Jun 12, 2026
NAXS AB has repurchased 5,284 of its own shares on Nasdaq Stockholm between 1 and 5 June 2026 under an ongoing share buyback program. The board-initiated program is designed to give the company greater flexibility in capital management, support po...
NAXS Steps Up Share Buybacks to Boost Capital Flexibility and Shareholder Value
Jun 8, 2026
NAXS AB has repurchased 5,284 of its own shares on Nasdaq Stockholm between 1 and 5 June 2026 as part of a broader buyback program. The transactions, executed by Pareto Securities AB under EU safe-harbour rules, bring the company’s total hol...
NAXS Accelerates Share Buybacks to Boost Capital Efficiency and Shareholder Value
Jun 1, 2026
NAXS AB has continued its ongoing share repurchase program, buying 4,416 of its own shares on Nasdaq Stockholm between 25 and 29 May 2026 through Pareto Securities, which executes trades independently. The buyback aims to provide flexibility in ca...
NAXS Steps Up Share Buybacks to Optimize Capital Structure
May 25, 2026
NAXS AB has repurchased 4,329 of its own shares on Nasdaq Stockholm between 18 and 22 May 2026 as part of a broader share buyback program. The transactions, executed independently by Pareto Securities AB under EU market abuse and safe harbour rule...
NAXS Strengthens Capital Management with Ongoing Share Buybacks
May 18, 2026
NAXS AB has continued its share repurchase program, buying back 4,029 shares on Nasdaq Stockholm between 11 and 15 May 2026. The buybacks, executed by Pareto Securities, aim to optimize capital management, adjust the company’s capital struct...
NAXS Steps Up Share Buybacks to Tighten Capital Structure and Boost Returns
May 11, 2026
NAXS AB has repurchased 3,970 of its own shares on Nasdaq Stockholm between 4 and 8 May 2026 under its ongoing share buyback program, bringing total repurchases since March to 34,724 shares. The program, conducted under EU Market Abuse and Safe Ha...
NAXS expands share buyback to bolster capital structure and shareholder value
May 4, 2026
NAXS AB has repurchased 3,537 of its own shares between 27 and 30 April 2026 under an ongoing buyback program on Nasdaq Stockholm. The program is designed to provide flexibility in capital management, support potential acquisition financing, and h...
NAXS Expands Share Buyback to Bolster Capital Structure and Shareholder Value
Apr 27, 2026
NAXS AB, the Stockholm-listed investment company focused on Nordic private equity, targets long-term value creation by managing its portfolio and carefully allocating capital to improve shareholder returns. The company leverages its listing on Nas...
NAXS Expands Share Buyback to Bolster Capital Structure and Shareholder Value
Apr 23, 2026
NAXS AB has continued its share buyback program, repurchasing 4,827 shares on Nasdaq Stockholm between 13 and 17 April 2026 through Pareto Securities, which executes transactions independently of the company. These purchases are part of a broader ...
NAXS AB Posts Narrower Q1 Loss as NAV Edges Lower
Apr 23, 2026
NAXS AB reported a first-quarter 2026 net loss of SEK 4.6 million, a sharp improvement from the prior year’s loss, with earnings per share at SEK -0.42. Net asset value declined to SEK 527 million, or SEK 48.10 per share, as private equity f...
NAXS Expands Share Buyback Program to Optimize Capital Structure
Apr 13, 2026
NAXS AB has continued its ongoing share repurchase program, buying 4,921 of its own shares on Nasdaq Stockholm between 7 and 10 April 2026. The buybacks, executed by Pareto Securities under EU market abuse and safe harbour rules, are intended to g...
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.