Pierce Group AB (PIERCE) AI Stock Analysis

• Market Cap: kr648.60M
• Dividend Yield: N/A
• Average Volume (3M): 407.79K
• Price to Earnings (P/E): 39.1
• Beta (1Y): 0.75
• Revenue Growth: 15.59%
• EPS Growth: 16.67%
• Country: SE
• Employees: 320
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.10
• Shares Outstanding: 79,374,100
• 10 Day Avg. Volume: 187,984
• 30 Day Avg. Volume: 407,794
• PEG Ratio: -0.38
• Price to Book (P/B): 1.71
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -113.50
• 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): 0.97
• Revenue Forecast (FY): kr2.00B

• Rating: 46 Neutral
• Price Target: kr8.00 ▼(-44.06% Downside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is held down primarily by the TTM profitability and cash flow deterioration (negative operating and free cash flow, small net loss) and weak technical momentum (below major moving averages with negative MACD and low RSI). Strong revenue growth and a manageable leverage profile provide partial support, but valuation is constrained by losses and the lack of a dividend yield.

Positive Factors

Strong Revenue Growth

Sustained high top-line growth indicates durable demand for the D2C motorcycle aftermarket offering and expands the addressable customer base. Over 2–6 months this supports scale benefits in purchasing, distribution and marketing efficiency that can sustainably improve margin and market share.

Healthy Gross Margins

A ~42.5% gross margin shows the product mix and pricing provide structural product economics. This margin cushion supports reinvestment in inventory, fulfillment and customer acquisition, and gives resilience to input cost fluctuations across the medium term.

Manageable Leverage / Balance Sheet Flexibility

Moderate leverage and sizeable equity provide financial flexibility to fund growth or working-capital needs without immediate refinancing risk. Stable assets (~1.13B) give capacity for capex or inventory investment and cushion cyclical swings over the coming months.

Negative Factors

Weakened Cash Generation

A reversal to negative operating and free cash flow materially reduces internally available capital for inventory, marketing and platform investment. If this persists over the next 2–6 months it can force higher external financing, slow growth initiatives, or compress margins via financing costs.

Thin Operating Profitability

Very slim operating margins leave limited buffer against rising fulfillment, logistics or marketing costs. Over a multi-month horizon this constrains the firm's ability to self-fund expansion and increases sensitivity to cost inflation or competitive pricing pressure, risking margin erosion.

Returns Under Pressure

Negative ROE and a recent net loss indicate the business is not yet converting growth into shareholder returns. Persisting losses can limit strategic flexibility, raise investor scrutiny, and hinder long-term capital access if profitability is not restored in the medium term.

Pierce Group AB Business Overview & Revenue Model

Company Description

Pierce Group Ab (publ), an e-commerce company, engages in the sale of gears, parts, accessories, and streetwear to riders through online stores in Europe. It operates through Offroad, Onroad, and Other segments. The company serves motocross and enduro riders under the 24MX brand; motorcycle riders on highroads under the XLMOTO brand; and snowmobile riders under the Sledstore brand, as well as through a physical store in Stockholm. Pierce Group Ab (publ) was founded in 2008 and is headquartered in Hägersten, Sweden.

How the Company Makes Money

Pierce primarily makes money by selling products online directly to consumers (D2C) via its e-commerce websites. Revenue is generated when customers purchase: (1) riding gear and apparel (helmets, jackets, gloves, boots, protective equipment), (2) hard parts and accessories (components and upgrades for motorcycles and other powersports vehicles), and (3) maintenance items/consumables (e.g., oils, filters, tires and similar categories, where applicable). The company earns gross profit on the spread between product selling prices and its cost of goods (including product sourcing, inbound logistics, and any applicable duties). Additional contributors to earnings typically include shipping fees charged to customers (net of fulfillment and carrier costs) and the ability to improve margins through assortment mix (higher-margin private-label or exclusive products where offered) and scale effects in purchasing and warehousing; specific details on private-label presence, monetization of shipping, or other ancillary income streams are null. Material partnerships, marketplace revenue, or advertising/media income are null.

Pierce Group AB Financial Statement Overview

Summary

Revenue growth is very strong (+72.1%) and gross margin is healthy (~42.5%), but operating profitability is thin (EBIT margin ~1.2%), TTM net margin is slightly negative (~-0.6%), and cash generation weakened sharply with negative operating cash flow (-3M) and negative free cash flow (-10M). Balance sheet leverage is moderate (debt-to-equity ~0.35), but returns are pressured by the recent loss.

Income Statement

TTM (Trailing-Twelve-Months) revenue growth is very strong (+72.1%), and gross margin remains healthy (~42.5%), pointing to solid demand and decent product economics. However, profitability is thin at the operating line (EBIT margin ~1.2%) and the company slipped to a small net loss (net margin ~-0.6%) in TTM after being profitable in 2024. EBITDA margin also compressed meaningfully versus 2024, suggesting higher operating costs and/or investment pressure.

Balance Sheet

Leverage looks manageable in TTM with debt-to-equity around 0.35 and equity of ~663M versus ~117M debt, providing balance sheet flexibility. Total assets are stable (~1.13B). The key weakness is returns: TTM shows a slightly negative return on equity, reflecting the recent net loss and indicating profitability still isn’t consistently translating into shareholder returns.

Cash Flow

Cash generation deteriorated sharply in TTM, with operating cash flow turning slightly negative (-3M) and free cash flow also negative (-10M), a major reversal from the strong positive cash flows in 2023–2024. Free cash flow declined steeply (growth -81.8%), signaling weaker cash conversion and/or higher working-capital/investment needs. While prior years demonstrate the business can generate substantial cash, the latest TTM trend is a clear near-term risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.82B	1.63B	1.54B	1.67B	1.59B
Gross Profit	773.00M	725.00M	607.00M	657.00M	728.00M
EBITDA	27.00M	113.00M	-34.00M	8.00M	98.00M
Net Income	29.00M	36.00M	-96.00M	-58.00M	26.00M
Balance Sheet
Total Assets	1.13B	1.10B	970.00M	1.08B	1.03B
Cash, Cash Equivalents and Short-Term Investments	235.00M	297.00M	222.00M	136.00M	18.00M
Total Debt	117.00M	52.00M	54.00M	103.00M	249.00M
Total Liabilities	463.00M	437.00M	343.00M	364.00M	594.00M
Stockholders Equity	663.00M	666.00M	627.00M	719.00M	441.00M
Cash Flow
Free Cash Flow	-10.00M	100.00M	124.00M	-5.00M	-87.00M
Operating Cash Flow	-3.00M	105.00M	127.00M	9.00M	-61.00M
Investing Cash Flow	-21.00M	-8.00M	-8.00M	-16.00M	-12.00M
Financing Cash Flow	-26.00M	-29.00M	-28.00M	124.00M	2.00M

Pierce Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PIERCE, the sentiment is Negative. The current price of 14.3 is above the 20-day moving average (MA) of 9.15, above the 50-day MA of 10.80, and above the 200-day MA of 11.13, indicating a bearish trend. The MACD of -0.64 indicates Negative momentum. The RSI at 27.00 is Positive, neither overbought nor oversold. The STOCH value of 10.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:PIERCE.

Pierce Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOKUS	67 Neutral	kr1.11B	14.48	―	4.49%	9.46%	59.55%
NELLY	64 Neutral	kr1.62B	13.97	51.02%	―	12.45%	118.98%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CDON	56 Neutral	kr772.42M	-12.12	―	―	―	―
OBAB	49 Neutral	kr322.60M	-37.08	―	―	27.27%	-1165.24%
PIERCE	46 Neutral	kr648.60M	39.14	-0.15%	―	15.59%	16.67%

Pierce Group AB Corporate Events

Pierce Group AB Outlines Strategy in 2025 Sustainability Report

Pierce Group AB has released its Sustainability Report 2025, outlining its management approach, strategy, and business model in relation to environmental, social, and governance priorities. The report highlights the company’s focus on resource efficiency, circular economy initiatives, workforce practices, consumer responsibility, and business conduct, signaling sustained efforts to integrate sustainability into core operations and stakeholder relationships.

The most recent analyst rating on (SE:PIERCE) stock is a Hold with a SEK9.00 price target. To see the full list of analyst forecasts on Pierce Group AB stock, see the SE:PIERCE Stock Forecast page.

Pierce Group Extends European Footprint With Launch in Four New Markets

Pierce Group, Europe’s leading e-commerce specialist in motorcycle, motocross and snowmobile gear, is expanding its reach by launching localized online sites in Slovenia, Romania, Bulgaria and Luxembourg. Leveraging its upgraded e-commerce platform, own brands and category-focused marketplaces 24MX, XLMOTO and Sledstore, the company continues to build out its footprint from a logistics hub in Poland.

The new market entries align with Pierce’s strategy to broaden its European presence in a cost-efficient, low-risk manner by reusing existing operational resources and logistics capabilities. While near-term sales contributions from these four countries are expected to be modest, the initiative underscores the scalability of Pierce’s operating model and is positioned as a meaningful long-term growth driver that strengthens its regional position and engagement with local riding communities.

The most recent analyst rating on (SE:PIERCE) stock is a Hold with a SEK9.00 price target. To see the full list of analyst forecasts on Pierce Group AB stock, see the SE:PIERCE Stock Forecast page.

Pierce Group lifts 2025 sales and margins as transformation gains traction

Pierce Group AB reported a transformational 2025 with net revenue rising 12 percent to SEK 1,816 million, or 14 percent in local currencies, driven by stronger sales and an improved product mix. Adjusted EBIT nearly doubled to SEK 45 million, lifting the adjusted operating margin to 2.5 percent despite a lower full-year cash flow and a marginal net loss per share.

In the fourth quarter, revenue grew 3 percent to SEK 464 million, while EBIT swung to a profit of SEK 10 million and free cash flow strengthened, leaving the group with net cash of SEK 235 million. The appointment of a new CFO and the renewal of a credit facility with a major Swedish bank support the company’s ongoing transformation and provide financial flexibility for its next phase of development.

The most recent analyst rating on (SE:PIERCE) stock is a Sell with a SEK11.50 price target. To see the full list of analyst forecasts on Pierce Group AB stock, see the SE:PIERCE Stock Forecast page.

Pierce Group Sets Date for 2025 Year-End Report and Investor Presentation

Pierce Group AB will publish its year-end report for 2025 on 20 February 2026 at 08:00 CET and will follow up with an English-language webcast and teleconference at 10:00 CET, hosted by CEO Göran Dahlin and CFO Fredrik Kjellgren. The scheduled presentation underscores the company’s effort to maintain transparent communication with investors and other stakeholders as it reports on its full-year performance in the competitive European powersports e-commerce market.

The most recent analyst rating on (SE:PIERCE) stock is a Sell with a SEK11.50 price target. To see the full list of analyst forecasts on Pierce Group AB stock, see the SE:PIERCE Stock Forecast page.