Nelly Group AB (SE:NELLY)
:NELLY
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Nelly Group AB
(NELLY)
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Rating:64Neutral
Price Target:
kr61.00
▼(-46.11% Downside)
Action:DowngradedDate:03/12/26
The score is driven primarily by improved financial performance (profitability and positive cash generation), tempered by revenue volatility, a 2025 free-cash-flow decline, and mixed technical signals. Valuation appears reasonable with a mid-teens P/E, but lacks dividend data to strengthen the case.
Positive Factors
Profitability Recovery
The company moved from loss-making years into materially improved gross and net margins in 2024–2025. Sustained mid-50s gross margins and positive net margin demonstrate stronger unit economics and pricing/assortment leverage, improving long-term earnings durability if top-line holds.
Negative Factors
Revenue Volatility
Historic swings in revenue weaken predictability of earnings and strain retail operating leverage. If top-line growth is uneven, margins and cash conversion can reverse quickly in weaker cycles, making current profitability less battle-tested across economic or demand downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Recovery
The company moved from loss-making years into materially improved gross and net margins in 2024–2025. Sustained mid-50s gross margins and positive net margin demonstrate stronger unit economics and pricing/assortment leverage, improving long-term earnings durability if top-line holds.
Read all positive factors
Nelly Group AB (NELLY) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.56B
Dividend YieldN/A
Average Volume (3M)120.69K
Price to Earnings (P/E)14.0
Beta (1Y)0.81
Revenue Growth12.45%
EPS Growth118.98%
CountrySE
Employees145
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)1.94
Shares Outstanding30,074,076
10 Day Avg. Volume137,838
30 Day Avg. Volume120,685
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)8.02
Price to Sales (P/S)2.58
P/FCF Ratio35.80
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)7.11
Revenue Forecast (FY)kr1.39B
Nelly Group AB Business Overview & Revenue Model
Company Description
Nelly Group AB (publ) operates as a fashion company in Sweden, rest of Nordics, Germany, and the Netherlands. It offers fashion and beauty products, and accessories for young women under the Nelly brand. Nelly Group AB (publ) sells and markets its...
How the Company Makes Money
Nelly Group AB makes money primarily by selling products through its e-commerce platform. Its main revenue stream is net sales from merchandise (e.g., apparel, shoes, accessories, and beauty products) purchased by customers online. The company ear...
Nelly Group AB Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
62
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.26B | 1.09B | 1.06B | 1.30B | 1.43B |
| Gross Profit | 686.00M | 581.40M | 504.20M | 566.30M | 638.80M |
| EBITDA | 225.30M | 145.60M | 63.60M | -22.40M | -29.10M |
| Net Income | 168.50M | 83.40M | -1.50M | -71.70M | -47.80M |
Balance Sheet | |||||
| Total Assets | 989.70M | 867.80M | 799.80M | 837.20M | 899.90M |
| Cash, Cash Equivalents and Short-Term Investments | 253.80M | 196.90M | 151.10M | 96.80M | 197.50M |
| Total Debt | 287.10M | 260.40M | 283.60M | 294.60M | 316.40M |
| Total Liabilities | 583.30M | 630.70M | 621.20M | 703.60M | 695.50M |
| Stockholders Equity | 406.40M | 237.10M | 178.60M | 133.60M | 204.40M |
Cash Flow | |||||
| Free Cash Flow | 91.00M | 154.50M | 36.40M | -75.90M | -4.30M |
| Operating Cash Flow | 123.10M | 154.50M | 59.30M | -64.80M | 18.80M |
| Investing Cash Flow | -32.10M | -22.40M | -22.90M | -11.10M | -22.90M |
| Financing Cash Flow | -34.10M | -56.40M | 17.80M | -25.00M | -29.20M |
Nelly Group AB Technical Analysis
Negative
113.20
Price Trends
106.52
Negative
103.63
Negative
87.38
Negative
Market Momentum
-17.95
Positive
10.76
Positive
31.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NELLY, the sentiment is Negative. The current price of 113.2 is above the 20-day moving average (MA) of 76.61, above the 50-day MA of 106.52, and above the 200-day MA of 87.38, indicating a bearish trend. The MACD of -17.95 indicates Positive momentum. The RSI at 10.76 is Positive, neither overbought nor oversold. The STOCH value of 31.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NELLY.
Nelly Group AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | kr1.04B | 14.48 | ― | 4.49% | 9.46% | 59.55% | |
64 Neutral | kr1.56B | 13.97 | 51.02% | ― | 12.45% | 118.98% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | kr833.22M | -12.12 | ― | ― | ― | ― | |
49 Neutral | kr307.18M | -37.08 | ― | ― | 27.27% | -1165.24% | |
46 Neutral | kr659.44M | 35.47 | -0.15% | ― | 15.59% | 16.67% | |
42 Neutral | kr64.36M | -3.47 | ― | ― | ― | ― |
* Consumer Cyclical Sector Average
SE:NELLY
Nelly Group AB
51.80
18.15
53.94%
SE:PIERCE
Pierce Group AB
8.52
-0.70
-7.59%
SE:BOKUS
Bokusgruppen AB
64.20
13.52
26.68%
SE:CDON
CDON AB
74.00
31.30
73.30%
SE:OBAB
Online Brands Nordic AB
11.95
-2.40
-16.72%
SE:BBROOM
New Bubbleroom Sweden AB
4.14
0.66
18.97%
Nelly Group AB Corporate Events
Nelly Group Names Former NetOnNet CEO Josefin Dalum as New CFO
Mar 9, 2026
Nelly Group AB, the Nasdaq Stockholm-listed online fashion retailer targeting young women in the Nordic region, continues to build on its mix of proprietary NELLY products and external brands, leveraging both e-commerce and a growing physical foot...
Nelly Group Delivers Strong 2025 Growth and Higher Profit Margins
Feb 10, 2026
Nelly Group AB, an online fashion retailer, reported strong growth in 2025 as it continued to expand its e-commerce offering in the competitive digital apparel market. The company’s business model relies on driving higher sales volumes while...
Nelly Group Sets Date for Year-End 2025 Report and Investor Webcast
Jan 21, 2026
Nelly Group AB has announced it will publish its year-end and fourth-quarter 2025 report on 10 February, followed by an English-language webcast and conference call for analysts, investors and media. The presentation, hosted by CEO Helena Karlinde...
Nelly Group Reshapes Nomination Committee Ahead of 2026 AGM
Dec 18, 2025
Nelly Group AB has announced a change to its Nomination Committee ahead of the 2026 Annual General Meeting, with Frank Larsson of Handelsbanken Fonder AB joining as a new member. He replaces Mandatum Life Insurance Company’s representative A...
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.