ScandBook Holding AB (SBOK) AI Stock Analysis

• Market Cap: kr263.85M
• Dividend Yield: 4.51%
• Average Volume (3M): 1.70K
• Price to Earnings (P/E): 9.5
• Beta (1Y): 0.20
• Revenue Growth: 12.32%
• EPS Growth: 1.07%
• Country: SE
• Employees: 216
• Sector: Services
• Sector Strength: N/A
• Industry: Specialty Business Services
• EPS (TTM): 3.33
• Shares Outstanding: 4,596,632
• 10 Day Avg. Volume: 1,360
• 30 Day Avg. Volume: 1,698
• PEG Ratio: 0.11
• Price to Book (P/B): 1.17
• Price to Sales (P/S): 0.68
• P/FCF Ratio: 13.21
• 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: 64 Neutral
• Price Target: kr59.00 ▲(18.47% Upside)
• Action: Downgraded Date: 02/21/26
• Date: Action: Downgraded 02/21/26

The score is driven primarily by moderate financial performance: earnings and operating cash flow are positive, but the sharp 2025 debt increase and weaker/volatile free cash flow add risk. Valuation is a key positive with a low P/E and strong dividend yield, while technicals are supportive on trend (price above key moving averages) but tempered by elevated RSI and a slightly negative MACD.

Positive Factors

Consistent revenue growth

Sustained top-line growth and a clear 2025 acceleration indicate expanding market reach or stronger sales execution. Over 2–6 months this supports durability of cash generation, funds for reinvestment, and reduces execution risk relative to peers lacking consistent revenue momentum.

Positive operating cash flow

Reliable operating cash generation and a year-over-year increase in 2025 provide enduring capacity to fund working capital, maintenance capex, and dividends without relying solely on external financing, strengthening resilience across business cycles.

Historically modest leverage and rising equity

A history of low leverage and increasing equity builds financial flexibility, enabling the company to absorb shocks, access credit on better terms, and support strategic investments — a structural advantage for medium-term stability.

Negative Factors

Sharp 2025 debt increase

A sudden near-quadrupling of debt materially raises interest and refinancing risk and reduces balance-sheet optionality. If earnings or cash flow weaken, higher leverage can force cost cuts or asset sales and constrain strategic investments over the medium term.

Volatile and declining free cash flow

Uneven conversion of profits into free cash flow complicates sustained dividend, buyback, and capex planning. Persistent volatility increases reliance on external financing during downturns, amplifying the impact of the 2025 debt rise on liquidity and solvency risk.

Margin compression and limited visibility

Eroding margins versus prior stronger periods and no clear 2025 margin breakout reduce confidence that recent profit gains are sustainable. Without margin recovery, revenue growth may not translate to durable earnings improvement, limiting long-term cash flow upside.

ScandBook Holding AB Business Overview & Revenue Model

Company Description

ScandBook Holding AB (publ) manufactures and sells hard/soft cover books for book publishers in Sweden. It offers case-bound hardback books covered with colored or printed paper wrapped with a dust jacket; case-bound hardback books covered with printed paper glued to the cover board; and books with softcovers and paperbacks, as well as with flaps. The company also provides composition/positioning of inlay, design of the book cover, stocks of covers, interposer of folders, and wrapping services; prepress; and logistics services. ScandBook Holding AB (publ) was incorporated in 2006 and is based in Falun, Sweden.

How the Company Makes Money

ScandBook Holding AB generates revenue primarily through the sale of its published content across multiple formats, including physical books, e-books, and audiobooks. Key revenue streams include direct sales to consumers via online platforms and physical bookstores, as well as bulk sales to educational institutions and libraries. Additionally, the company may engage in partnerships with other publishers and digital platforms to expand its distribution reach and leverage licensing agreements for content. Marketing initiatives and promotional campaigns also play a vital role in driving sales and increasing brand visibility, contributing to the overall earnings of SBOK.

ScandBook Holding AB Financial Statement Overview

Summary

Solid revenue growth and improved 2025 net income support the outlook, and operating cash flow remains positive. Offsetting this, margins have compressed versus 2021–2022 with limited 2025 margin visibility, debt increased sharply in 2025, and free cash flow declined materially and remains volatile.

Income Statement

Revenue has grown steadily over the last several years, with 2025 showing a solid acceleration versus 2024. Profitability is positive and 2025 net income improved meaningfully versus 2024. Offsetting this, margins have generally compressed from the stronger 2021–2022 period to 2023–2024 levels, and 2025 margin detail is not provided, creating less visibility on whether earnings strength is coming from sustainable operating improvement or other factors.

Balance Sheet

The company has historically run with modest leverage (debt-to-equity around ~0.11–0.29 in 2020–2024) and equity has trended upward over time, supporting balance-sheet resilience. However, total debt rose sharply in 2025 (to 112.3M from 31.0M in 2024) and assets also stepped up, which increases financial risk and reduces flexibility if earnings or cash flow soften.

Cash Flow

Operating cash flow has been consistently positive and 2025 operating cash flow increased versus 2024, indicating ongoing cash generation. The main concern is volatility in free cash flow: 2025 free cash flow declined materially (down ~32% year over year), and prior years also show meaningful swings, suggesting uneven conversion of profits into discretionary cash after investment needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	489.31M	416.80M	392.39M	387.41M	335.13M
Gross Profit	27.04M	199.48M	173.72M	190.27M	160.21M
EBITDA	49.67M	50.90M	41.76M	56.86M	47.70M
Net Income	40.67M	23.23M	26.00M	32.68M	26.34M
Balance Sheet
Total Assets	467.08M	346.26M	335.51M	314.61M	289.49M
Cash, Cash Equivalents and Short-Term Investments	34.35M	59.52M	54.60M	25.03M	23.36M
Total Debt	112.29M	31.00M	36.43M	34.31M	45.39M
Total Liabilities	181.30M	69.98M	73.35M	66.86M	79.33M
Stockholders Equity	285.78M	276.29M	262.16M	247.74M	210.16M
Cash Flow
Free Cash Flow	25.22M	24.54M	34.70M	17.81M	6.74M
Operating Cash Flow	46.79M	42.68M	62.47M	22.33M	25.55M
Investing Cash Flow	-87.40M	-18.15M	-24.86M	-4.53M	-18.81M
Financing Cash Flow	17.13M	-20.61M	-7.99M	-17.83M	-15.71M

ScandBook Holding AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 49.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SBOK, the sentiment is Positive. The current price of 49.8 is below the 20-day moving average (MA) of 50.62, below the 50-day MA of 50.21, and above the 200-day MA of 45.48, indicating a bullish trend. The MACD of 2.54 indicates Negative momentum. The RSI at 66.45 is Neutral, neither overbought nor oversold. The STOCH value of 91.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SBOK.

ScandBook Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SBOK	64 Neutral	kr263.85M	9.52	―	4.51%	12.32%	1.07%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
DRIL	53 Neutral	kr173.94M	3,900.00	―	6.35%	-4.44%	-68.88%
NEPA	53 Neutral	kr147.04M	-4.32	―	8.09%	―	―
RAKE	47 Neutral	kr73.90M	-0.13	―	―	-47.47%	-524.00%
SCOUT	43 Neutral	kr25.90M	-2.59	―	―	―	―