Netel Holding AB (NETEL) AI Stock Analysis

• Market Cap: kr242.07M
• Dividend Yield: N/A
• Average Volume (3M): 302.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.37
• Revenue Growth: -13.07%
• EPS Growth: -372.35%
• Country: SE
• Employees: 837
• Sector: Technology
• Sector Strength: 88
• Industry: Telecommunications Services
• EPS (TTM): -1.40
• Shares Outstanding: 48,511,870
• 10 Day Avg. Volume: 285,731
• 30 Day Avg. Volume: 302,611
• PEG Ratio: 0.07
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 0.20
• P/FCF Ratio: 10.92
• 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: kr5.00
• Price Target Upside: 0.60% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: kr5.00 ▲(0.60% Upside)

The score is held back primarily by weak financial performance—declining revenue, negative profitability, and significant cash flow deterioration. Technicals are only modestly supportive (near-term strength but longer-term downtrend), while valuation signals remain unfavorable due to losses and the absence of dividend support.

Positive Factors

Stable Balance Sheet

A moderate debt-to-equity ratio and reasonable equity ratio suggest a balanced leverage position, providing financial stability and flexibility.

Long-term Partnerships

Long-term partnerships with telecom providers ensure steady income and opportunities for collaboration, supporting sustained revenue streams.

Diverse Revenue Streams

Diverse revenue streams from telecom services reduce dependency on a single source, enhancing resilience against market fluctuations.

Negative Factors

Declining Revenue

Declining revenue indicates challenges in market demand or competitive pressures, potentially impacting long-term growth and market position.

Negative Profitability

Negative profitability metrics highlight operational inefficiencies and the need for strategic improvements to enhance shareholder value.

Cash Flow Challenges

Significant cash flow challenges indicate liquidity concerns and inefficiencies in converting income into cash, affecting financial health.

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 power networks. The company is involved in the planning, permit management, construction, installation, roll-out, commissioning, and integration of mobile data network systems; logistics services; designs fiber networks; upgrade of coaxial networks, preventive and corrective maintenance, and installation of communication networks; and construction and maintenance of infrastructure for district heating, water, and sewage. It serves telecom operators, owners of mobile towers, and system suppliers; network owners, network operators and tenant-owner associations; infrastructure owners; and real estate and construction companies. Netel Holding AB was founded in 2000 and is based in Stockholm, Sweden.

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, including both fixed and mobile installations. Key revenue streams include contracts with telecommunications operators for network upgrades and expansions, as well as ongoing maintenance agreements. Additionally, NETEL benefits from long-term partnerships with various telecom providers, which provide steady income and opportunities for project collaborations. The company also engages in public sector projects, which further contributes to its revenue through government contracts and infrastructure development initiatives.

Netel Holding AB Financial Statement Overview

Summary

Netel Holding AB is facing financial challenges with inconsistent revenue growth and a negative net income. While operational efficiency is indicated by stable gross and EBITDA margins, profitability pressures are evident. The balance sheet shows reduced leverage, but cash flow issues highlight potential liquidity concerns.

Income Statement

Netel Holding AB has shown a mixed performance with fluctuating revenue and profitability metrics. The revenue growth rate has been inconsistent, with a decline in the latest period. The gross profit margin is stable, but a negative net income in the most recent year signals challenges in profitability. EBITDA margin remains relatively stable, indicating operational efficiency, but the negative net profit margin needs attention.

Balance Sheet

The company's balance sheet reflects moderate financial health with a declining debt-to-equity ratio, indicating reduced leverage over time. The equity ratio is stable, suggesting a balanced asset structure. However, the return on equity has decreased significantly due to the recent net loss, highlighting potential profitability pressures.

Cash Flow

Cash flow analysis shows variability, with a decline in operating cash flow and free cash flow in the most recent year. The free cash flow to net income ratio is negative due to the net loss, posing a concern for cash generation capabilities. The operating cash flow to net income ratio has decreased, reflecting challenges in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.09B	3.28B	3.46B	3.14B	2.42B	2.30B
Gross Profit	871.00M	1.17B	1.21B	1.16B	860.00M	728.88M
EBITDA	109.00M	214.00M	241.00M	241.00M	172.00M	136.00M
Net Income	-108.00M	-47.00M	44.00M	123.00M	66.00M	76.93M
Balance Sheet
Total Assets	2.83B	2.97B	3.15B	3.12B	2.13B	1.51B
Cash, Cash Equivalents and Short-Term Investments	150.00M	261.00M	446.00M	369.00M	271.00M	89.87M
Total Debt	1.12B	1.01B	1.06B	1.09B	589.00M	390.08M
Total Liabilities	1.79B	1.87B	2.01B	2.01B	1.22B	907.69M
Stockholders Equity	1.04B	1.09B	1.13B	1.11B	912.00M	603.27M
Cash Flow
Free Cash Flow	-79.00M	59.00M	223.00M	-90.00M	91.00M	127.37M
Operating Cash Flow	-73.00M	59.00M	242.00M	-72.00M	114.00M	131.27M
Investing Cash Flow	-62.00M	-162.00M	-83.00M	-238.00M	-181.00M	-1.17M
Financing Cash Flow	33.00M	-89.00M	-67.00M	402.00M	244.00M	-132.80M

Netel Holding AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.97
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NETEL, the sentiment is Neutral. The current price of 4.97 is above the 20-day moving average (MA) of 4.47, above the 50-day MA of 4.30, and below the 200-day MA of 8.39, indicating a neutral trend. The MACD of 0.22 indicates Negative momentum. The RSI at 58.52 is Neutral, neither overbought nor oversold. The STOCH value of 65.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NETEL.

Netel Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFREA	72 Outperform	kr422.74M	18.98	―	3.51%	7.83%	―
ALCA	71 Outperform	kr612.78M	19.21	―	―	-7.91%	-33.91%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
KEBNI.B	56 Neutral	kr469.53M	80.19	8.68%	―	9.30%	―
TRANS	48 Neutral	kr371.53M	-3,760.87	0.35%	―	10.36%	-100.68%
NETEL	46 Neutral	kr242.07M	-1.89	―	―	-13.07%	-372.35%
KJELL	43 Neutral	kr526.77M	-1.34	-42.09%	―	-4.54%	-1024.16%

Netel Holding AB Corporate Events

Netel Secures New Long-Term Financing, Easing Going-Concern Concerns

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 liquidity requirement. The refinancing follows one-time impairments on older projects in acquired subsidiaries that caused covenant breaches as of 30 September 2025, and the new structure is intended to restore predictability and flexibility in the company’s capital structure, remove uncertainty about its ability to continue operations, and support management’s plans to improve profitability and deliver growth from its SEK 3.8 billion order backlog and savings programmes.

The most recent analyst rating on (SE:NETEL) stock is a Sell with a SEK3.50 price target. To see the full list of analyst forecasts on Netel Holding AB stock, see the SE:NETEL Stock Forecast page.

Netel Secures Landmark Contract for Ludvika Logistics Center

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 Infraservices division, involves comprehensive ground and civil engineering tasks, including stormwater and sewage systems installation, and is expected to be completed by early 2027. This contract underscores Netel’s competitive edge and capability to deliver high-quality infrastructure solutions, enhancing its industry positioning and operational scope.

The most recent analyst rating on (SE:NETEL) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Netel Holding AB stock, see the SE:NETEL Stock Forecast page.

Netel Secures SEK 50 Million Contract with Ellevio for Lidingö Project

Netel Holding AB has secured a contract worth approximately SEK 50 million with Ellevio for the reconstruction and refurbishment of a distribution station on Lidingö, near Stockholm. This project, set to begin in autumn 2025 and conclude by autumn 2028, underscores Netel’s role in supporting the electrification of society and strengthens its position in the Northern European infrastructure sector.

The most recent analyst rating on (SE:NETEL) stock is a Hold with a SEK4.00 price target. To see the full list of analyst forecasts on Netel Holding AB stock, see the SE:NETEL Stock Forecast page.

Netel Holding AB Faces Challenges but Remains Optimistic for Future Growth

Netel Holding AB reported a challenging third quarter in 2025, with significant financial losses attributed to write-downs in subsidiaries and lower-than-expected project volumes. The company is implementing cost-saving measures and strategic divestments, including its UK operations, to restore profitability. Despite these challenges, Netel maintains a high order backlog and is optimistic about future growth and margin improvements, driven by new customer agreements and strategic market expansions.

The most recent analyst rating on (SE:NETEL) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Netel Holding AB stock, see the SE:NETEL Stock Forecast page.

Netel Secures Renewed Framework Agreement with Elvia for Emergency Services

Netel Holding AB’s subsidiary, Nett-Tjenester, has secured a renewed two-year framework agreement with Elvia, a leading energy company in Norway, to provide emergency services in Østfold and Akershus counties. This agreement, valued at MNOK 20–30 annually, underscores Netel’s reliability and commitment to quality, strengthening its position in the Northern European infrastructure sector.

The most recent analyst rating on (SE:NETEL) stock is a Hold with a SEK7.00 price target. To see the full list of analyst forecasts on Netel Holding AB stock, see the SE:NETEL Stock Forecast page.