Nobia AB (NOBI) AI Stock Analysis

• Market Cap: kr2.62B
• Dividend Yield: N/A
• Average Volume (3M): 1.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: -9.81%
• EPS Growth: -200.79%
• Country: SE
• Employees: 4,042
• Sector: General
• Sector Strength: N/A
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): -2.84
• Shares Outstanding: 675,051,940
• 10 Day Avg. Volume: 1,537,377
• 30 Day Avg. Volume: 1,083,184
• PEG Ratio: -0.01
• Price to Book (P/B): 0.49
• Price to Sales (P/S): 0.20
• P/FCF Ratio: -3.11
• 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: 41 Neutral
• Price Target: kr4.00 ▼(-7.83% Downside)

The score is held down primarily by deteriorating financial performance (shrinking revenue, deeply negative profitability, and rising leverage). Technicals add further pressure with price below key moving averages, though oversold readings provide a modest offset. Valuation is difficult to support with a negative P/E and no dividend yield data provided.

Positive Factors

Diversified European market position

Nobia's multi-brand European footprint and mix of direct-to-consumer, retail and wholesale channels provide durable revenue diversification. This structural distribution reduces single-market exposure, supports scale in procurement and design, and helps absorb regional demand swings over months.

Stable gross margins

Relatively steady mid-to-high 30% gross margins indicate underlying product economics and pricing power in kitchen furnishings. Persisting gross profitability provides a foundation for recovery of operating results if fixed costs are realigned and volume declines stabilize over the medium term.

Positive recent operating and free cash flow

Modestly positive trailing operating and free cash flow show the business can generate cash despite reported losses, giving management runway to execute restructuring or deleveraging. Sustained cash generation is critical for funding operations and reducing reliance on external financing.

Negative Factors

Shrinking revenue trend

Near-double-digit revenue decline signals weakening demand or market share loss; persistent top-line contraction undermines fixed-cost absorption and scale advantages. Continued shrinkage would pressure margins, cash generation and the ability to invest in product and distribution over the coming months.

Deeply negative profitability

A large trailing net loss and negative returns indicate core earnings failure to cover costs. Prolonged losses erode equity, limit reinvestment, and raise restructuring risk. Restoring sustainable EBIT will be required to rebuild balance-sheet strength and investor confidence over time.

Rising leverage and weakened equity

Leverage roughly doubling to ~2.4x increases interest and covenant risk and reduces financial flexibility. With equity eroding from losses, higher debt amplifies downside in a cyclical sector, constraining capital allocation and making refinancing or margin recovery more urgent and challenging.

Nobia AB Business Overview & Revenue Model

Company Description

Nobia AB (publ) develops, manufactures, and sells kitchen solutions to consumer and professional customers. The company offers cabinets, drawers, fronts, panels, bases, cabinet fixtures, worktops, sinks, mixer taps, appliances, kitchen fans, handles, and others. It sells its products under various brands, including A la Carte, Bribus, Commodore & CIE, ewe, FM, Gower, HTH, INTUO, Invita, Magnet, Marbodal, Norema, Petra, Rixonway Kitchens, Sigdal, and uno form brands. The company sells its products through approximately 225 own stores; and a network of 168 franchise stores and 1,400 retail stores, including furniture stores, builders' merchants, DIY stores, and independent kitchen specialists. It also provides installation services for kitchen products. In addition, the company exports its products. It serves in Sweden, Denmark, Norway, Finland, the United Kingdom, Germany, the Netherlands, Austria, and internationally. The company was founded in 1996 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Nobia generates revenue primarily through the sale of kitchen and bathroom products, which includes a variety of cabinets, worktops, sinks, and kitchen appliances. The company operates a direct-to-consumer model as well as partnerships with retailers and builders, which expands its distribution channels. Key revenue streams include retail sales from their branded stores and online platforms, alongside wholesale sales to professional contractors and builders. Additionally, Nobia benefits from strategic partnerships with suppliers and manufacturers that enhance its product offerings and competitive positioning in the market.

Nobia AB Financial Statement Overview

Summary

Weak fundamentals dominate: revenue has been shrinking and profitability has turned deeply negative (large TTM net loss), which is also eroding equity and lifting leverage (debt-to-equity ~2.4x in TTM). Cash flow is a partial offset with modestly positive TTM free cash flow, but the gap versus reported losses and prior volatility keeps financial risk elevated.

Income Statement

Profitability has deteriorated meaningfully. Revenue has been shrinking in recent years, with TTM (Trailing-Twelve-Months) down sharply versus the prior period and margins turning deeply negative (EBIT and net margin). While gross margin has remained relatively steady in the mid-to-high 30% range, operating losses and a very large TTM net loss indicate weak cost absorption and/or elevated restructuring/other charges. The main positive is that gross profitability has not collapsed, but the earnings profile is currently very pressured.

Balance Sheet

Leverage has increased and equity has eroded. Total debt remains high and the debt-to-equity position has worsened from around ~1.1–1.3x in 2023–2024 to ~2.4x in TTM (Trailing-Twelve-Months), reflecting a weaker capital base. Returns on equity are negative across the last several periods, and the steeply negative TTM figure aligns with the large loss. A key strength is that the company still maintains positive equity, but the trajectory suggests higher balance-sheet risk until profitability stabilizes.

Cash Flow

Cash generation is mixed but showing some resilience in the most recent period. TTM (Trailing-Twelve-Months) operating cash flow is positive and free cash flow is modestly positive, a notable improvement versus 2023–2024 when free cash flow was negative. However, cash flow quality remains a concern: operating cash flow is small relative to the scale of reported losses in TTM (Trailing-Twelve-Months), and free cash flow has been volatile year-to-year. The positive is improved near-term cash flow, but sustainability is not yet proven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.99B	10.54B	13.37B	14.93B	13.72B	12.74B
Gross Profit	3.71B	3.84B	4.64B	5.36B	5.28B	4.44B
EBITDA	-1.27B	-49.00M	723.00M	926.00M	1.81B	1.28B
Net Income	-2.99B	-1.34B	-347.00M	-2.00M	706.00M	253.00M
Balance Sheet
Total Assets	9.88B	12.30B	13.62B	12.77B	10.63B	10.09B
Cash, Cash Equivalents and Short-Term Investments	0.00	270.00M	412.00M	340.00M	422.00M	635.00M
Total Debt	4.94B	4.97B	5.45B	3.94B	2.21B	2.47B
Total Liabilities	7.80B	7.97B	9.29B	8.06B	5.71B	6.05B
Stockholders Equity	2.07B	4.32B	4.33B	4.71B	4.92B	4.03B
Cash Flow
Free Cash Flow	93.00M	-677.00M	-827.00M	-765.00M	648.00M	1.76B
Operating Cash Flow	651.00M	210.00M	890.00M	919.00M	1.54B	2.07B
Investing Cash Flow	-318.00M	727.00M	-1.68B	-1.72B	-868.00M	-253.00M
Financing Cash Flow	-473.00M	-1.04B	868.00M	658.00M	-932.00M	-1.42B

Nobia AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NOBI, the sentiment is Negative. The current price of 4.34 is above the 20-day moving average (MA) of 4.07, above the 50-day MA of 4.05, and above the 200-day MA of 4.30, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 45.96 is Neutral, neither overbought nor oversold. The STOCH value of 66.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NOBI.

Nobia AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RVRC	78 Outperform	kr7.16B	23.45	23.71%	2.02%	6.44%	0.49%
BORG	69 Neutral	kr1.51B	17.43	23.44%	4.95%	9.20%	11.72%
SODER	63 Neutral	kr175.09M	31.26	6.37%	3.38%	2.88%	-51.00%
BMAX	61 Neutral	kr3.54B	18.51	7.24%	1.40%	4.04%	433.33%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BOAT	47 Neutral	kr541.42M	-4.56	-11.15%	―	-17.48%	20.08%
NOBI	41 Neutral	kr2.62B	-0.87	-83.34%	―	-9.81%	-200.79%

Nobia AB Corporate Events

Nobia to Present 2025 Year-End Results on 5 February

Nobia has announced that it will publish its year-end report for 2025 on Thursday, 5 February at 08:30 CET, providing investors and other stakeholders with an update on the company’s financial performance and operational development. On the same day at 10:00 CET, President and CEO Kristoffer Ljungfelt and interim CFO Robert Belkic will hold a webcast and telephone conference to present the results and answer questions, with presentation materials made available on the company’s investor relations website to facilitate broader access and transparency for the market.

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

Nobia Calls Extraordinary General Meeting to Reshape Capital Structure

Nobia AB has convened an extraordinary general meeting (EGM) for 18 February 2026 in Stockholm, calling on shareholders registered with Euroclear Sweden by 10 February and duly notified by 12 February to participate, either in person or via proxy. The key agenda item is a set of proposed amendments to the articles of association and related measures enabling a reduction of the company’s share capital without redeeming shares, as well as new share issues with preferential rights for existing shareholders and a potential bonus issue, signalling an upcoming restructuring of the capital structure that could affect ownership dynamics and future financing options for investors.

The most recent analyst rating on (SE:NOBI) stock is a Hold with a SEK5.00 price target. To see the full list of analyst forecasts on Nobia AB stock, see the SE:NOBI Stock Forecast page.

Nobia Sheds UK Unit to Refocus on Higher-Margin Nordic Kitchen Business

Nobia AB has agreed to divest its loss-making UK operations, including the Magnet, Gower, Commodore and CIE brands, to funds managed by Alteri Partners, in a move that sharpens its strategic focus on core Nordic markets where it enjoys stronger brands, higher structural margins and a production base centred on Nobia Park. The sale, for which no upfront purchase price is due as the buyer assumes substantial lease liabilities, will see the UK business reclassified as discontinued operations and trigger a non-cash impairment of around SEK 750m and about SEK 100m in items affecting comparability in the fourth quarter of 2025, while accompanying restructuring is expected to deliver annualised cost savings of roughly SEK 80m from the third quarter of 2026; pro forma figures highlight that the remaining Nordic-focused business has historically generated significantly higher EBIT margins, underscoring management’s aim to improve profitability and streamline operations after the transaction closes in the first half of 2026.

The most recent analyst rating on (SE:NOBI) stock is a Hold with a SEK5.00 price target. To see the full list of analyst forecasts on Nobia AB stock, see the SE:NOBI Stock Forecast page.

Nobia Launches SEK 1.5 Billion Rights Issue and Reshapes Financing to Bolster Nordic Focus

Nobia’s board has approved a fully guaranteed rights issue of approximately SEK 1.5 billion and secured a commitment to amend and extend its SEK 3.45 billion revolving credit facilities, strengthening the group’s balance sheet and long‑term liquidity. The move, backed by major shareholders Nordstjernan, If Skadeförsäkring and AP4, is intended to provide the financial flexibility to execute Nobia’s strategy of focusing on its core Nordic markets, underpinned by its automated Jönköping factory, and follows an agreement to divest its UK operations, underscoring a strategic shift toward consolidating its position as the leading kitchen specialist in the region.

The most recent analyst rating on (SE:NOBI) stock is a Hold with a SEK5.00 price target. To see the full list of analyst forecasts on Nobia AB stock, see the SE:NOBI Stock Forecast page.

Nobia Announces SEK 1.9 Billion Impairment Amid UK Market Challenges

Nobia AB has announced a SEK 1.9 billion non-cash impairment of its UK operations, primarily affecting intangible assets, due to prolonged weak market conditions and slow financial recovery. Despite these challenges, the company reported an improved adjusted operating profit for the third quarter, with net sales slightly declining. The strategic shift towards an asset-light model continues, with further reviews of the UK business underway, indicating ongoing efforts to stabilize and enhance its market position.

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