Skane-moellan AB (SKMO) AI Stock Analysis

• Market Cap: kr587.40M
• Dividend Yield: 2.43%
• Average Volume (3M): 272.00
• Price to Earnings (P/E): 58.5
• Beta (1Y): -0.32
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 28
• Sector: Services
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): 0.24
• Shares Outstanding: 11,000,000
• 10 Day Avg. Volume: 114
• 30 Day Avg. Volume: 272
• PEG Ratio: -1.87
• Price to Book (P/B): 4.10
• Price to Sales (P/S): 2.75
• P/FCF Ratio: 0.00
• 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: 58 Neutral
• Price Target: kr54.00 ▼(-6.57% Downside)
• Action: Reiterated Date: 02/01/26
• Date: Action: Reiterated 02/01/26

The score is primarily supported by strong financial stability (zero debt and solid equity), but is held back by deteriorating operating trends and volatile free cash flow. Technicals remain weak with the stock below major moving averages, and valuation is unfavorable given the high P/E with only a modest dividend yield.

Positive Factors

Balance sheet strength

Zero reported debt and stable equity provide durable financial flexibility, lowering refinancing and solvency risk. This capital structure supports continued operations, investment or weathering demand volatility without reliance on external borrowing, a persistent advantage over 2–6 months.

Operating cash generation

Consistent positive operating cash flow indicates the core milling business converts sales into cash, supporting working capital and reinvestment needs. Even with free cash flow swings, reliable operating cash underpins sustainable operations and funding for strategic initiatives.

Profitable core business

Sustained positive margins show the firm can extract value from milling operations and maintain profitability across cycles. Profitability, even at reduced levels, supports internal funding, preserves equity, and indicates an enduring business model serving bakery and food industry customers.

Negative Factors

Revenue deterioration

A multi-year revenue downtrend reduces operating leverage and raises risk that fixed-cost mills face lower utilization. Continued top-line weakness can erode margins and cash generation, making it harder to sustain investments and returns without market or product mix improvement.

Margin compression

Significant margin erosion signals pressure on pricing, input cost spreads, or operational efficiency. Lower margins reduce resilience to cost shocks, limit retained earnings for reinvestment, and make meeting long-term return targets more challenging absent productivity gains or higher-value products.

Volatile free cash flow

Large swings in free cash flow indicate inconsistent cash available after reinvestment, which can force timing of capex, limit dividend capacity, or require financing in downturns. Persistent volatility undermines planning and heightens financing risk over the medium term.

Skane-moellan AB Business Overview & Revenue Model

Company Description

Skåne-möllan AB (publ) engages in the production and sale of flour and cereal products to bakeries, food industries, and consumers in Sweden. It offers organic wheat, organic cut rye, whole grain wheat, bakery wheat, graham, rye, and barley flour products; heat treated grain products; oat flour and oat flakes; and oat kernels. The company sells its flour products under the Möllarens brands. Skåne-möllan AB (publ) was founded in 1971 and is based in Tågarp, Sweden.

How the Company Makes Money

Skåne-möllan primarily makes money by selling milled grain products—most notably flour and other cereal-based ingredients—to business customers (e.g., bakeries and food producers) and potentially to additional customer segments such as wholesalers and retailers. Revenue is generated on a per-unit basis from product sales, with earnings driven by (1) sales volumes and pricing of flour/ingredients, (2) the product mix between standard commodity-style flour and any higher-value or specialty products (if applicable), and (3) the spread between input costs (grain procurement) and realized selling prices. Profitability is also influenced by production efficiency and capacity utilization at its milling operations, as well as logistics/distribution costs. Specific disclosures on the split of revenue by product category, customer segment, contract structure (spot vs. long-term), or significant partnerships are not available here and are therefore null.

Skane-moellan AB Financial Statement Overview

Summary

Balance sheet is a major strength with zero debt and stable equity, providing high financial flexibility. However, operating performance has weakened: revenue declined (notably -6.5% in 2025) and net margins compressed to ~4.7%. Cash generation is mixed with positive operating cash flow but highly volatile free cash flow (down to zero in 2025).

Income Statement

The company remains profitable, but operating performance has weakened. Revenue has been slightly down for several years and fell more sharply in 2025 (-6.5% vs. 2024). Profitability has compressed meaningfully from 2020–2021 levels (net margin ~10%) to 2025 (net margin ~4.7%), with EBIT also down notably versus 2024. Strengths are consistent positive earnings and still-positive operating margins, but the recent trend shows decelerating demand and margin pressure.

Balance Sheet

Balance sheet strength is a clear positive: total debt is reported at zero across all periods, and equity is stable (~SEK 158–163m) with a low-risk capital structure. Returns on equity remain positive but have stepped down from the 2020–2022 range (roughly mid-teens) to ~7.0% in 2025, reflecting weaker profitability rather than leverage. Overall, financial flexibility is high with limited balance-sheet risk.

Cash Flow

Cash generation is mixed. Operating cash flow is positive in most years and improved in 2025 (SEK 24.8m), supporting reported earnings (cash flow above net income in 2025). However, free cash flow has been volatile: strong in 2023–2024 but dropped to zero in 2025 (a -100% decline), indicating heavier investment or working-capital drag. The business can generate cash, but consistency of cash available after reinvestment is a key weakness.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	252.90M	236.40M	265.00M	271.13M	271.96M	213.96M
Gross Profit	46.40M	39.00M	47.20M	44.58M	54.82M	51.39M
EBITDA	22.10M	11.80M	23.20M	21.70M	31.02M	32.59M
Net Income	15.80M	11.10M	16.20M	14.79M	20.78M	21.91M
Balance Sheet
Total Assets	184.40M	187.30M	194.70M	200.94M	193.90M	190.49M
Cash, Cash Equivalents and Short-Term Investments	48.50M	67.20M	60.20M	61.63M	44.30M	72.43M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	32.30M	29.00M	31.60M	38.80M	31.07M	33.36M
Stockholders Equity	152.10M	158.30M	163.10M	162.14M	162.83M	157.13M
Cash Flow
Free Cash Flow	23.60M	0.00	13.36M	33.72M	-12.35M	19.29M
Operating Cash Flow	25.10M	24.80M	19.80M	41.03M	-6.78M	33.37M
Investing Cash Flow	-7.00M	-2.40M	-5.80M	-8.31M	-5.94M	2.22M
Financing Cash Flow	0.00	-15.40M	-15.40M	-15.40M	-15.40M	-13.20M

Skane-moellan AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CASE	67 Neutral	kr720.93M	16.65	―	―	34.18%	242.91%
SKMO	58 Neutral	kr587.40M	58.47	―	2.43%	―	―
NNH	57 Neutral	kr107.80M	17.54	―	―	5.91%	―
SNX	56 Neutral	kr504.62M	21.64	―	0.51%	22.02%	127.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SCST	55 Neutral	kr9.26B	17.69	―	2.56%	7.37%	2.90%