Rejlers AB Class B (SE:REJL.B)
:REJL.B
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Rejlers AB Class B
(REJL.B)
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Rating:56Neutral
Price Target:
kr155.00
▼(-19.94% Downside)
Action:ReiteratedDate:02/07/26
The score is driven mainly by mixed fundamentals: strong growth and manageable leverage are outweighed by a sharp 2025 drop in free cash flow and weaker gross margin. Technicals are also a headwind with the stock trading below key moving averages and negative momentum indicators, while valuation is only moderately supportive due to a mid-teens-to-20s P/E and a ~2.9% yield.
Positive Factors
Revenue Growth
Consistent multi-year revenue growth, including a significant 2025 step-up, indicates expanding market share and sustained demand for engineering services. This trend supports scalable utilization, higher win rates for larger projects, and a stronger platform to absorb investments over the next several quarters.
Negative Factors
Free Cash Flow Shock
A collapse to zero free cash flow in 2025 materially weakens the firm's ability to self-fund capex, dividends, or working-capital needs. It raises reliance on external financing and signals potential working-capital volatility or elevated investments, reducing near-term financial flexibility until cash conversion recovers.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent multi-year revenue growth, including a significant 2025 step-up, indicates expanding market share and sustained demand for engineering services. This trend supports scalable utilization, higher win rates for larger projects, and a stronger platform to absorb investments over the next several quarters.
Read all positive factors
Rejlers AB Class B (REJL.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr3.35B
Dividend Yield2.68%
Average Volume (3M)18.59K
Price to Earnings (P/E)21.5
Beta (1Y)0.59
Revenue Growth7.00%
EPS Growth-12.12%
CountrySE
Employees3,282
SectorIndustrials
Sector Strength72
IndustryConsulting Services
Share Statistics
EPS (TTM)2.27
Shares Outstanding21,086,317
10 Day Avg. Volume24,386
30 Day Avg. Volume18,585
Financial Highlights & Ratios
PEG Ratio-1.76
Price to Book (P/B)2.03
Price to Sales (P/S)0.90
P/FCF Ratio0.00
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)12.26
Revenue Forecast (FY)kr5.17B
Rejlers AB Class B Business Overview & Revenue Model
Company Description
Rejlers AB (publ) provides technical and engineering consultancy services in Sweden, Finland, Norway, and the United Arab Emirates. It serves energy, buildings, industry, telecom, and infrastructure sectors. The company was formerly known as Rejle...
How the Company Makes Money
Rejlers primarily makes money by selling engineering and consulting services, where revenue is typically recognized as projects are delivered (commonly on a time-and-materials basis or as fixed-price assignments, depending on scope and risk alloca...
Rejlers AB Class B Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
48
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.74B | 4.43B | 4.09B | 3.51B | 2.90B |
| Gross Profit | 299.00M | 2.33B | 1.44B | 1.37B | 1.10B |
| EBITDA | 574.70M | 538.60M | 457.20M | 432.40M | 258.60M |
| Net Income | 197.40M | 221.80M | 185.40M | 196.40M | 110.20M |
Balance Sheet | |||||
| Total Assets | 3.97B | 3.70B | 3.65B | 2.98B | 2.35B |
| Cash, Cash Equivalents and Short-Term Investments | 66.90M | 68.60M | 59.20M | 144.80M | 151.90M |
| Total Debt | 856.80M | 665.40M | 681.60M | 528.00M | 424.90M |
| Total Liabilities | 1.87B | 1.76B | 1.85B | 1.50B | 1.13B |
| Stockholders Equity | 2.10B | 1.94B | 1.80B | 1.49B | 1.22B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 387.40M | 245.30M | 254.00M | 147.00M |
| Operating Cash Flow | 312.80M | 407.70M | 265.90M | 275.20M | 170.00M |
| Investing Cash Flow | -141.30M | -107.70M | -551.70M | -245.60M | -132.40M |
| Financing Cash Flow | -197.90M | -291.80M | 203.10M | -40.40M | -223.50M |
Rejlers AB Class B Technical Analysis
Positive
193.60
Price Trends
161.46
Positive
176.09
Negative
185.12
Negative
Market Momentum
0.13
Negative
53.53
Neutral
38.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:REJL.B, the sentiment is Positive. The current price of 193.6 is above the 20-day moving average (MA) of 157.90, above the 50-day MA of 161.46, and above the 200-day MA of 185.12, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 53.53 is Neutral, neither overbought nor oversold. The STOCH value of 38.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:REJL.B.
Rejlers AB Class B Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | kr45.18B | 24.43 | 18.52% | 2.20% | 2.68% | 0.49% | |
61 Neutral | kr12.63B | 19.30 | 6.31% | 4.09% | -6.24% | -29.72% | |
56 Neutral | kr3.35B | 21.54 | 10.98% | 2.68% | 7.00% | -12.12% | |
56 Neutral | kr3.95B | -24.33 | -3.72% | ― | -25.09% | -844.09% | |
51 Neutral | kr5.23B | 20.36 | 10.13% | 3.29% | 0.61% | 108.21% | |
48 Neutral | kr1.43B | 58.96 | 0.72% | ― | -4.67% | ― |
* Industrials Sector Average
SE:REJL.B
Rejlers AB Class B
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-15.33%
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Rejlers AB Class B Corporate Events
Rejlers Wins Nationwide Transport Planning Mandate from Swedish Transport Administration
Apr 28, 2026
Rejlers has secured a new national framework agreement with the Swedish Transport Administration covering planning and design assignments for both road and rail projects across all regions of Sweden. The deal reinforces Rejlers’ role as a na...
Rejlers Wins Key Engineering Role in Fermion’s Finnish API Capacity Expansion
Apr 27, 2026
Rejlers has been appointed engineering partner for a major upgrade of Fermion’s pharmaceutical production facility in Hanko, Finland, transforming an idle unit into a modern plant that meets current pharmaceutical manufacturing standards. Th...
Rejlers Positions Nordic Engineering Expertise at Heart of Sustainable Transition
Apr 7, 2026
Rejlers AB highlights its role in enabling the development of a more sustainable society through engineering expertise across the Nordic region. By supporting the energy transition and modernising industrial and community infrastructure, the compa...
Rejlers Calls 2026 AGM and Sets Out Board, Pay and Capital Mandate Proposals
Mar 27, 2026
Rejlers AB has called its shareholders to an Annual General Meeting on 29 April 2026 at the company’s Stockholm office, setting out participation procedures, registration requirements and rules for proxy representation in line with Swedish c...
Rejlers Wins Extension of Sinfra Security Contract to Protect Swedish Infrastructure
Mar 24, 2026
Rejlers has secured a one-year extension of its framework agreement with Sinfra, giving 541 municipal member companies across Sweden continued access to security consultancy services. The deal primarily supports operators of critical infrastructur...
Rejlers Norway to Acquire Future Technology and Expand Advisory Capabilities
Mar 18, 2026
Rejlers Norway has agreed to acquire all shares in Future Technology AS, a Norwegian consultancy specializing in electrical engineering, power systems, technical safety, project management and health and safety services across infrastructure, indu...
Rejlers boosts Finnish infrastructure offering with acquisition of SGM Consulting
Feb 27, 2026
Rejlers has acquired Finland-based SGM Consulting, a leading provider of measurement and geotechnical investigation services, to broaden its capabilities in the infrastructure sector. The deal brings around 50 specialists and approximately EUR 7 m...
Rejlers Adjusts Share Capital Following Acquisition-Linked New Issue
Feb 27, 2026
Rejlers AB has updated its share capital structure following a directed non-cash issue linked to its acquisition strategy. As of 27 February 2026, the company has 22,835,567 shares outstanding, divided into 1,749,250 class A shares and 21,086,317 ...
Rejlers Delivers Record 2025 Results and Ramps Up Nordic Expansion
Feb 5, 2026
Rejlers reported record sales and earnings for both the fourth quarter and full year 2025, with annual net sales rising 7.0% to SEK 4.74 billion and EBITA climbing to a record SEK 377.7 million, while maintaining an 8.0% EBITA margin despite fewer...
Rejlers Extends Telia Towers Finland Partnership to Bolster Telecom Infrastructure Services
Feb 4, 2026
Rejlers will extend its multi-year partnership with Telia Towers Finland to handle site acquisition, permitting, construction oversight, maintenance and safety coordination for telecommunications towers and related infrastructure, reinforcing Rejl...
Rejlers Buys Rörkraft to Bolster Water Infrastructure and Industrial Expertise
Feb 2, 2026
Rejlers has acquired Ingenjörsfirman Rörkraft, a Swedish engineering consulting firm specialising in water treatment, energy transition, defence, industry and environmental projects, thereby significantly strengthening its capabilities i...
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.