New Nordic Healthbrands AB (NNH) AI Stock Analysis

• Market Cap: kr128.24M
• Dividend Yield: N/A
• Average Volume (3M): 5.45K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 0.04
• Revenue Growth: 5.91%
• EPS Growth: N/A
• Country: SE
• Employees: 77
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.33
• Shares Outstanding: 6,195,200
• 10 Day Avg. Volume: 3,153
• 30 Day Avg. Volume: 5,451
• PEG Ratio: -0.08
• Price to Book (P/B): 1.39
• Price to Sales (P/S): 0.25
• P/FCF Ratio: 18.98
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: kr20.50 ▼(-4.65% Downside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

The score is driven primarily by improving but still inconsistent fundamentals: strong revenue growth and moderate leverage are offset by volatile profitability and uneven cash flow, with added concern from the 2025 gross margin drop. Technically, the stock shows a short-term rebound but remains below longer-term averages and momentum appears stretched. Valuation is reasonable based on the 14.93 P/E, providing modest support.

Positive Factors

Revenue Growth

A pronounced revenue step-up (+16.9% in 2025) points to durable demand or distribution gains. Sustained top-line growth supports operating leverage, funds reinvestment, and helps rebuild margins over 2–6 months if management keeps execution and channel momentum.

Balance Sheet Strength

Lower leverage and a return to positive ROE signal improving capital structure and financial flexibility. Manageable debt levels reduce refinancing risk and give the company room to invest in growth or absorb short-term shocks without eroding equity value.

Cash Conversion in 2025

High FCF-to-net-income conversion in 2025 (≈90%) suggests improved earnings quality and the ability to convert profits into spendable cash. If sustained, this supports internally funded growth, lowers external financing needs, and strengthens long-term resilience.

Negative Factors

Gross Margin Decline

A marked gross margin decline indicates structural cost pressure or adverse mix shifts that can erode the recent profit recovery. If margin compression persists, it will limit the company’s ability to expand operating margins, sustain returns, and finance growth internally.

Swingy Cash Generation

Repeated years of negative operating and free cash flow highlight inconsistent working-capital control and unpredictable cash availability. This volatility raises reliance on external funding and constrains strategic investments, undermining long-term stability.

Low Net Margin

A narrow net margin leaves limited buffer against cost shocks or competitive pricing pressure. With margin near break-even, the business has little room to reinvest, build durable competitive advantages, or absorb further margin deterioration without returning to losses.

New Nordic Healthbrands AB Business Overview & Revenue Model

Company Description

New Nordic Healthbrands AB (publ) develops and markets dietary supplements, natural medicines, and cosmetic products in Sweden. The company provides vitality products for immune system. The company provides balm, repair mask, shampoo, shine serum, chewing gum, face and eye cream, and dietary supplements. It offers its products under Hair Volume, Skin Care, Beauty In & Out, and New Nordic brand names. The company sells its products through pharmacies, department stores, health stores, travel retailers, and beauty shops, as well as through online stores in 41 countries in North America, Canada, Europe, the United States, and internationally. New Nordic Healthbrands AB (publ) was founded in 1990 and is headquartered in Malmö, Sweden.

How the Company Makes Money

New Nordic Healthbrands AB generates revenue through the sale of its health and wellness products across multiple channels, including online retail, pharmacies, and health food stores. The company utilizes a direct-to-consumer model, allowing for higher margins on their products by selling directly through their website and other e-commerce platforms. Key revenue streams include sales from popular product lines tailored to specific health concerns, such as digestive health, beauty from within, and weight management. Additionally, NNH benefits from partnerships with distributors and retailers, which expand their market reach and enhance brand visibility. The growing global trend towards preventive healthcare and natural supplements also contributes significantly to NNH's earnings potential.

New Nordic Healthbrands AB Financial Statement Overview

Summary

Revenue growth is strong (notably +16.9% YoY in 2025) and leverage appears manageable, but profitability and cash generation have been volatile. The 2025 return to profit is encouraging, yet the sharp gross margin drop and historically inconsistent operating/free cash flow keep overall financial quality only moderate.

Income Statement

Revenue has grown steadily over the past several years, with a strong step-up in 2025 (+16.9% year over year). Profitability, however, has been volatile: the company posted losses from 2022–2024 before returning to a modest profit in 2025 (net margin ~1.4%). A sharp drop in 2025 gross margin versus prior years suggests either significant cost pressure or a change in reporting mix, making the quality and durability of the earnings rebound less certain.

Balance Sheet

Leverage looks manageable, with debt-to-equity improving to ~0.35 in 2025 (down from ~0.39 in 2024) and equity remaining fairly stable over time. Returns on equity turned positive in 2025 (~7.9%) after being negative for several years, which is constructive. The main weakness is that profitability has not been consistent enough to fully de-risk the capital structure if margins remain pressured.

Cash Flow

Cash generation has been inconsistent, with negative operating and free cash flow in 2021, 2022, and 2024, followed by rebounds in 2023 and 2025. In 2025, free cash flow was solid relative to net income (about 90%), but free cash flow still declined versus the prior year (negative growth). Overall, the swingy cash profile raises questions about working-capital discipline and the reliability of internally funded growth.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	576.36M	550.31M	533.85M	487.50M	514.85M
Gross Profit	15.15M	354.69M	348.23M	318.50M	350.05M
EBITDA	17.61M	-1.43M	-1.94M	-2.57M	29.34M
Net Income	8.20M	-7.70M	-6.19M	-2.82M	21.30M
Balance Sheet
Total Assets	246.15M	248.72M	249.06M	251.67M	238.35M
Cash, Cash Equivalents and Short-Term Investments	16.55M	15.25M	13.81M	10.70M	11.88M
Total Debt	35.84M	39.22M	26.64M	48.35M	24.43M
Total Liabilities	142.69M	148.19M	143.03M	139.10M	118.03M
Stockholders Equity	103.47M	100.92M	106.03M	112.57M	120.32M
Cash Flow
Free Cash Flow	7.57M	-6.62M	25.88M	-18.41M	-10.58M
Operating Cash Flow	8.39M	-5.40M	28.03M	-15.45M	-7.87M
Investing Cash Flow	-3.22M	-3.71M	-3.40M	-2.62M	-2.97M
Financing Cash Flow	-3.38M	10.39M	-21.17M	16.59M	12.07M

New Nordic Healthbrands AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.50
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NNH, the sentiment is Positive. The current price of 21.5 is above the 20-day moving average (MA) of 17.45, above the 50-day MA of 18.91, and below the 200-day MA of 21.68, indicating a neutral trend. The MACD of 0.35 indicates Negative momentum. The RSI at 68.71 is Neutral, neither overbought nor oversold. The STOCH value of 83.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:NNH.

New Nordic Healthbrands AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHEF	70 Outperform	kr1.24B	17.84	―	4.05%	12.49%	116.06%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
MSON.B	58 Neutral	kr1.62B	9.34	-0.17%	2.34%	-2.95%	-112.90%
SKMO	58 Neutral	kr531.30M	58.47	―	2.43%	―	―
NNH	57 Neutral	kr128.24M	17.54	―	―	5.91%	―
SNX	56 Neutral	kr527.74M	21.64	―	0.51%	22.02%	127.51%
HUMBLE	50 Neutral	kr3.16B	58.18	0.87%	―	5.99%	-38.16%