Netel Holding AB (SE:NETEL)
:NETEL
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Netel Holding AB
(NETEL)
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Rating:43Neutral
Price Target:
kr4.00
▼(-19.52% Downside)
Action:ReiteratedDate:02/08/26
The score is primarily driven by deteriorating financial performance (losses, weaker margins, higher leverage, and negative operating/free cash flow). Technicals reinforce the downside trend with the price below key moving averages and negative MACD, while valuation provides limited offset because the negative P/E reflects ongoing losses and no dividend yield is available.
Positive Factors
Contract-driven recurring revenue
Netel’s B2B contract model, with project work plus multi-year service and framework agreements, creates a structural revenue base that can smooth cycles. Recurring maintenance and lifecycle services tend to be steadier and higher-margin over time, supporting predictable cashflows if tender wins persist.
Negative Factors
Revenue decline and margin deterioration
A decline in revenue alongside a move to negative gross profit signals structural execution or pricing issues on projects. Volatile and deteriorating margins reduce earnings resilience in cyclical tender markets and imply the company may struggle to translate top-line work into sustainable profits without operational fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract-driven recurring revenue
Netel’s B2B contract model, with project work plus multi-year service and framework agreements, creates a structural revenue base that can smooth cycles. Recurring maintenance and lifecycle services tend to be steadier and higher-margin over time, supporting predictable cashflows if tender wins persist.
Read all positive factors
Netel Holding AB (NETEL) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr184.35M
Dividend YieldN/A
Average Volume (3M)302.61K
Price to Earnings (P/E)―
Beta (1Y)0.31
Revenue Growth-13.07%
EPS Growth-372.35%
CountrySE
Employees837
SectorTechnology
Sector Strength88
IndustryTelecommunications Services
Share Statistics
EPS (TTM)-1.21
Shares Outstanding48,511,870
10 Day Avg. Volume285,731
30 Day Avg. Volume302,611
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.25
Price to Sales (P/S)0.08
P/FCF Ratio-3.55
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)0.59
Revenue Forecast (FY)kr2.86B
Netel Holding AB Business Overview & Revenue Model
Company Description
Netel Holding AB provides Infranet services within mobile, fixed, and power networks in Sweden, Norway, Finland, and Germany. It provides Infranet project management services for the construction and maintenance of physical telecom, broadband, and...
How the Company Makes Money
Netel Holding AB generates revenue through multiple streams primarily centered around its telecommunications infrastructure services. The company earns money by charging clients for the design, construction, and maintenance of telecom networks, in...
Netel Holding AB Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
44
Neutral
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.92B | 3.28B | 3.46B | 3.14B | 2.42B |
| Gross Profit | -23.00M | 1.17B | 1.21B | 1.16B | 860.00M |
| EBITDA | 71.00M | 214.00M | 241.00M | 241.00M | 172.00M |
| Net Income | -117.00M | -47.00M | 44.00M | 123.00M | 66.00M |
Balance Sheet | |||||
| Total Assets | 2.75B | 2.97B | 3.15B | 3.12B | 2.13B |
| Cash, Cash Equivalents and Short-Term Investments | 205.00M | 261.00M | 446.00M | 369.00M | 271.00M |
| Total Debt | 1.12B | 1.01B | 1.06B | 1.09B | 589.00M |
| Total Liabilities | 1.78B | 1.87B | 2.01B | 2.01B | 1.22B |
| Stockholders Equity | 971.00M | 1.09B | 1.13B | 1.11B | 912.00M |
Cash Flow | |||||
| Free Cash Flow | -68.00M | 59.00M | 223.00M | -90.00M | 91.00M |
| Operating Cash Flow | -46.00M | 59.00M | 242.00M | -72.00M | 114.00M |
| Investing Cash Flow | -20.00M | -162.00M | -83.00M | -238.00M | -181.00M |
| Financing Cash Flow | 16.00M | -89.00M | -67.00M | 402.00M | 244.00M |
Netel Holding AB Technical Analysis
Negative
4.97
Price Trends
4.02
Negative
4.16
Negative
6.63
Negative
Market Momentum
-0.05
Negative
44.66
Neutral
33.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NETEL, the sentiment is Negative. The current price of 4.97 is above the 20-day moving average (MA) of 3.84, above the 50-day MA of 4.02, and below the 200-day MA of 6.63, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 44.66 is Neutral, neither overbought nor oversold. The STOCH value of 33.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NETEL.
Netel Holding AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr475.40M | 1.67 | ― | 3.51% | 7.83% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | kr825.62M | -1.50 | -42.09% | ― | -4.54% | -1024.16% | |
57 Neutral | kr750.04M | -55.21 | ― | ― | -7.91% | -33.91% | |
50 Neutral | kr362.27M | -22.37 | 8.68% | ― | 9.30% | ― | |
43 Neutral | kr184.35M | -2.06 | ― | ― | -13.07% | -372.35% | |
42 Neutral | kr236.23M | -2.89 | 0.35% | ― | 10.36% | -100.68% |
* Technology Sector Average
SE:NETEL
Netel Holding AB
3.78
-8.00
-67.95%
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Netel Holding AB Corporate Events
Netel Swings to Loss in 2025 but Bets on Restructuring and Cost Cuts for 2026 Recovery
Feb 6, 2026
Netel reported a weak 2025 with net sales down 9.3% to SEK 2.9 billion and a swing to an operating loss, hurt by lower volumes, large project write-downs and underperforming units, while net debt rose and the board proposed scrapping the dividend ...
Netel Deepens Elvia Partnership With New Oslo Grid Contracts
Jan 27, 2026
Netel Holding AB has broadened its partnership with Norwegian grid company Elvia through a new four-year framework agreement covering roughly half of Oslo Municipality, marking a significant entry into a new geographic market, while simultaneously...
Netel to Present Fourth-Quarter and Full-Year 2025 Results via Webcast and Teleconference
Jan 13, 2026
Netel Holding AB will publish its fourth-quarter and full-year 2025 report on Friday, 6 February, at 07:30 CET, followed by a webcast presentation at 09:00 CET where President and CEO Jeanette Reuterskiöld and CFO Fredrik Helenius will presen...
Netel Secures New Long-Term Financing, Easing Going-Concern Concerns
Dec 30, 2025
Netel Holding AB has secured new long-term financing agreements with SEB, the Swedish Export Credit Corporation and Swedbank that run until 30 June 2027, replacing its previous loan arrangements and shifting the main financial covenant to a liquid...
Netel Secures Landmark Contract for Ludvika Logistics Center
Nov 11, 2025
Netel Holding AB’s subsidiary, Brogrund Mark, has secured a significant contract valued at approximately MSEK 110 for civil engineering works at a new logistics center in Ludvika. This project, the largest ever for Netel’s Infraservice...
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.