Nordisk Bergteknik AB Class B (SE:NORB.B)
:NORB.B
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Nordisk Bergteknik AB Class B
(NORB.B)
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Rating:45Neutral
Price Target:
kr11.00
▼(-17.91% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (sharp TTM revenue contraction, thin margins, and elevated leverage) and bearish technicals (price below key moving averages with negative MACD). Valuation also detracts given a high P/E and no stated dividend yield.
Positive Factors
Consistent cash generation
Consistent positive operating cash flow and improved free cash flow provide durable liquidity that supports operations, working capital and selective reinvestment. Over 2–6 months this underpins the firm's ability to fund project execution, service obligations and modest deleveraging despite earnings volatility.
Negative Factors
Sharp revenue decline
A near-50% TTM revenue contraction signals material demand or volume loss that can erode scale economics, reduce crew and equipment utilization, and impair backlog. Over several months this weakens pricing leverage and makes fixed-cost absorption harder, raising execution and margin risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent cash generation
Consistent positive operating cash flow and improved free cash flow provide durable liquidity that supports operations, working capital and selective reinvestment. Over 2–6 months this underpins the firm's ability to fund project execution, service obligations and modest deleveraging despite earnings volatility.
Read all positive factors
Nordisk Bergteknik AB Class B (NORB.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr618.17M
Dividend YieldN/A
Average Volume (3M)32.03K
Price to Earnings (P/E)41.1
Beta (1Y)0.17
Revenue Growth1.56%
EPS Growth70.48%
CountrySE
Employees1,123
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.62
Shares Outstanding57,237,865
10 Day Avg. Volume20,463
30 Day Avg. Volume32,035
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.66
Price to Sales (P/S)0.23
P/FCF Ratio134.51
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)1.32
Revenue Forecast (FY)kr3.63B
Nordisk Bergteknik AB Class B Business Overview & Revenue Model
Company Description
Nordisk Bergteknik AB (publ), together with its subsidiaries, provides rock handling and foundation solutions in Sweden and Norway. Its rock handling services include drilling, excavation, wire sawing, rock reinforcement, shaft work, scaling, shot...
How the Company Makes Money
Nordisk Bergteknik primarily makes money by delivering project-based rock and ground engineering services to customers in construction and infrastructure. Revenue is typically generated through contracts and work orders where the company is paid f...
Nordisk Bergteknik AB Class B Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.43B | 3.45B | 3.31B | 3.53B | 3.40B | 1.92B |
| Gross Profit | 583.00M | 2.01B | 2.03B | 144.60M | 1.92B | 1.14B |
| EBITDA | 435.30M | 440.40M | 442.90M | 457.60M | 479.00M | 249.60M |
| Net Income | 35.80M | 28.50M | 9.60M | 40.40M | 144.40M | 44.70M |
Balance Sheet | ||||||
| Total Assets | 3.40B | 3.40B | 3.41B | 3.55B | 3.38B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 37.90M | 78.30M | 122.90M | 124.10M | 254.90M | 455.80M |
| Total Debt | 1.54B | 1.71B | 1.54B | 1.53B | 1.40B | 805.60M |
| Total Liabilities | 2.15B | 2.18B | 2.19B | 2.33B | 2.13B | 1.27B |
| Stockholders Equity | 1.25B | 1.23B | 1.23B | 1.21B | 1.22B | 947.30M |
Cash Flow | ||||||
| Free Cash Flow | 47.30M | 6.00M | 90.60M | 50.10M | 300.00K | -28.40M |
| Operating Cash Flow | 262.30M | 237.60M | 322.00M | 291.60M | 267.60M | 122.70M |
| Investing Cash Flow | -137.20M | -158.10M | -154.80M | -281.40M | -405.40M | -263.20M |
| Financing Cash Flow | -126.90M | -138.70M | -163.10M | -153.90M | -53.40M | 514.60M |
Nordisk Bergteknik AB Class B Technical Analysis
Neutral
13.40
Price Trends
11.46
Negative
12.56
Negative
12.51
Negative
Market Momentum
-0.18
Positive
44.37
Neutral
20.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NORB.B, the sentiment is Neutral. The current price of 13.4 is above the 20-day moving average (MA) of 11.26, above the 50-day MA of 11.46, and above the 200-day MA of 12.51, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 44.37 is Neutral, neither overbought nor oversold. The STOCH value of 20.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NORB.B.
Nordisk Bergteknik AB Class B Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr2.24B | 12.12 | ― | 1.24% | 12.12% | 103.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | kr1.97B | -16.66 | 0.72% | ― | -2.32% | ― | |
49 Neutral | kr1.09B | 1.39 | 18.63% | 5.62% | -7.73% | -198.18% | |
46 Neutral | kr289.77M | 10.05 | -73.61% | ― | -34.50% | -14.70% | |
46 Neutral | kr1.86B | -2.51 | ― | ― | 10.55% | -3187.01% | |
45 Neutral | kr618.17M | 41.09 | 2.34% | ― | 1.56% | 70.48% |
* Industrials Sector Average
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Nordisk Bergteknik AB Class B Corporate Events
Nordisk Bergteknik AGM Backs New Chairman, Retains Profits and Expands Capital Mandates
May 7, 2026
Nordisk Bergteknik’s Annual General Meeting approved the 2025 financial statements, endorsed the remuneration report, and granted discharge from liability to the board and CEO, while deciding to carry forward SEK 1.04 billion in profits rath...
Nordisk Bergteknik Lifts Profitability and Secures Long-Term Mining Contracts
May 5, 2026
Nordisk Bergteknik AB, a specialist in rock engineering and mining-related services, delivers drilling, blasting, reinforcement and core drilling solutions to infrastructure and mining customers in the Nordic market. Its operations are closely tie...
Nordisk Bergteknik Secures New Nordic Mining Contracts to Bolster Growth
Apr 30, 2026
Nordisk Bergteknik has strengthened its Mining business area by signing a four-year framework agreement with Boliden Mineral for core drilling in both exploration of new deposits and extraction in existing mines, covering a potential volume equiva...
Nordisk Bergteknik Calls 2026 AGM and Proposes No Dividend for 2025
Mar 31, 2026
Nordisk Bergteknik AB has called its Annual General Meeting for May 7, 2026 in Gothenburg, setting out a standard agenda that includes the presentation of the 2025 accounts, board elections and decisions on capital measures such as possible new sh...
Nordisk Bergteknik to Present Growth Strategy at Stora Aktiedagarna 2026
Mar 3, 2026
Nordisk Bergteknik, a specialist in rock handling and foundation solutions for infrastructure and construction projects, is pursuing growth by positioning itself as an early-stage partner in building sustainable, modern societal functions. Its ope...
Nordisk Bergteknik lifts 2025 sales and margins as profitability recovers
Feb 12, 2026
Nordisk Bergteknik AB reported a 4% increase in full-year 2025 net sales to SEK 3,450.8 million, with organic growth improving to 6% and adjusted EBIT margin rising to 4.1%, signaling strengthened profitability. For the fourth quarter, net sales g...
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.