Premium Snacks Nordic AB (SNX) AI Stock Analysis

• Market Cap: kr680.08M
• Dividend Yield: 0.51%
• Average Volume (3M): 52.22K
• Price to Earnings (P/E): 31.6
• Beta (1Y): 0.56
• Revenue Growth: 22.02%
• EPS Growth: 127.51%
• Country: SE
• Employees: 70
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.60
• Shares Outstanding: 13,601,653
• 10 Day Avg. Volume: 12,255
• 30 Day Avg. Volume: 52,221
• PEG Ratio: 0.02
• Price to Book (P/B): 3.37
• Price to Sales (P/S): 0.51
• P/FCF Ratio: 15.61
• 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): kr551.00M

• Rating: 67 Neutral
• Price Target: kr54.00 ▲(29.19% Upside)

The score is driven primarily by improving fundamentals (higher margins and better leverage) but is held back by weak TTM free-cash-flow conversion. Technicals are supportive with strong trend and positive momentum, while valuation provides only moderate support due to a relatively high P/E and low dividend yield.

Positive Factors

Margin Expansion

Sustained margin improvement into the TTM period reflects better pricing, cost control and operating leverage for a packaged-foods business. Over 2-6 months these higher margins support stronger operating profitability, improved cash flows if converted, and greater resilience to input cost swings.

Leverage Reduction

Marked decline in debt/equity indicates the balance sheet has strengthened and financial flexibility improved. Lower leverage reduces refinancing risk, widens management's choices for capex or M&A, and supports more durable investment-grade-like stability over the medium term.

Strong ROE in TTM

A high TTM ROE implies efficient capital deployment and earnings concentration from core operations. If sustained, strong ROE supports internal funding of growth and signals managerial effectiveness in a capital-light snacks business, benefiting long-term shareholder returns.

Negative Factors

Weak Cash Conversion

Low profit-to-cash conversion and a sharp FCF drop undermine durability of reported earnings: it constrains capacity to finance growth, pay dividends or cut leverage without external funding, and raises risk that earnings gains won't translate into sustainable cash generation.

Earnings Volatility

The company has shown meaningful earnings swings across recent years, including a loss in 2022 and minimal profit in 2023. Such volatility weakens forward earnings visibility, complicates planning and heightens execution risk for maintaining margin and cash targets over multiple quarters.

Modest Profitability

Despite recent improvement, absolute margins remain modest versus packaged-food peers (net margin ~4%, EBIT ~5.9% TTM). Limited structural margin buffer can reduce resilience to input inflation or competitive pricing pressure, making long-term margin sustainability uncertain.

Premium Snacks Nordic AB Business Overview & Revenue Model

Company Description

Premium Snacks Nordic AB (publ) develops, manufactures, and sells snacks under the Exotic Snacks and Gårdschips brand names in the Nordic region. The company offers products ranging from natural and spicy nuts to chocolate dragees, licorice, Asian rice snacks, and exotic dried fruits; and potato chips. It also exports its products. The company was formerly known as Rootfruit Scandinavia AB (publ) and changed its name to Premium Snacks Nordic AB (publ) in October 2020. Premium Snacks Nordic AB (publ) was founded in 2007 and is based in Laholm, Sweden.

How the Company Makes Money

Premium Snacks Nordic AB generates revenue through multiple streams, primarily from the sale of its snack products in both retail and wholesale markets. The company sells its products through various channels, including supermarkets, convenience stores, and online platforms, allowing it to reach a broad customer base. Key revenue streams include direct sales to consumers, bulk sales to retailers, and partnerships with health food distributors. Additionally, SNX may engage in co-branding or collaboration with health and wellness brands, further enhancing its market presence and driving sales. The company’s focus on premium quality and sustainable sourcing contributes to higher price points, thereby increasing profit margins.

Premium Snacks Nordic AB Financial Statement Overview

Summary

Operating performance has improved with steadily rising revenue and stronger profitability into TTM (net margin to 4.0%, EBIT margin to 5.9%), and leverage has eased (debt/equity down to 0.50 in TTM). However, cash flow quality is a key weakness: free cash flow fell sharply in TTM and profit-to-cash conversion is low (~8.6%), which reduces confidence in the durability of the earnings improvement.

Income Statement

Profitability and growth have improved materially. Revenue rose steadily from 2022–2024 and is up 6.3% in TTM (Trailing-Twelve-Months). Margins also strengthened: net margin improved from a loss in 2022 (-2.5%) to 2.2% in 2024 and 4.0% in TTM, with EBIT margin expanding to 5.9% in TTM. The main watch-out is that overall profitability is still modest for the sector and the business has shown earnings volatility (loss in 2022, very low profit in 2023).

Balance Sheet

Leverage looks manageable and has improved from peak levels. Debt vs. equity declined from 0.94 (2023) to 0.56 (2024) and 0.50 in TTM, while equity increased versus 2023. Returns on equity are strong in TTM (28%), reflecting the step-up in earnings. Key risk: the company is still meaningfully levered and returns have been inconsistent historically (negative in 2022, very low in 2023), so the stronger TTM profile needs to prove durable.

Cash Flow

Cash generation is the weakest part of the statement set. While operating cash flow is positive in TTM, free cash flow fell sharply (down ~88.6% vs. the prior period) to a low level, and free cash flow is only a small fraction of net income in TTM (~8.6%), suggesting profits are not converting well to cash. The positive offset is that 2024 cash flow was much healthier (strong free cash flow and solid conversion), but the TTM deterioration raises questions around working capital and/or elevated spending needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	529.49M	453.83M	370.68M	323.46M	321.83M	315.40M
Gross Profit	216.55M	188.21M	149.74M	126.49M	137.93M	123.32M
EBITDA	42.74M	28.95M	19.05M	4.88M	16.79M	17.06M
Net Income	21.42M	9.92M	955.00K	-8.17M	2.28M	2.90M
Balance Sheet
Total Assets	213.91M	170.46M	165.76M	144.80M	146.02M	167.93M
Cash, Cash Equivalents and Short-Term Investments	2.79M	834.00K	364.00K	1.23M	2.34M	27.57M
Total Debt	41.19M	38.64M	55.29M	43.98M	31.74M	55.51M
Total Liabilities	132.16M	102.05M	106.69M	86.67M	79.95M	104.35M
Stockholders Equity	81.75M	68.41M	59.07M	58.13M	66.07M	63.58M
Cash Flow
Free Cash Flow	1.66M	14.78M	2.86M	-13.54M	-1.67M	15.24M
Operating Cash Flow	19.35M	25.03M	9.03M	-6.32M	8.55M	23.09M
Investing Cash Flow	-23.27M	-10.37M	-6.17M	-7.23M	-10.22M	-7.86M
Financing Cash Flow	4.78M	-14.19M	-3.73M	12.43M	-23.56M	5.95M

Premium Snacks Nordic AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 41.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SNX, the sentiment is Positive. The current price of 41.8 is below the 20-day moving average (MA) of 46.23, below the 50-day MA of 42.14, and above the 200-day MA of 35.49, indicating a bullish trend. The MACD of 2.60 indicates Negative momentum. The RSI at 82.38 is Negative, neither overbought nor oversold. The STOCH value of 85.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SNX.

Premium Snacks Nordic AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHEF	70 Outperform	kr1.37B	25.44	―	4.05%	12.49%	116.06%
SNX	67 Neutral	kr680.08M	31.60	―	0.51%	22.02%	127.51%
NNH	64 Neutral	kr102.22M	12.84	―	―	5.91%	―
MSON.B	63 Neutral	kr1.43B	143.31	-0.17%	2.34%	-2.95%	-112.90%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HUMBLE	59 Neutral	kr3.54B	80.65	0.87%	―	5.99%	-38.16%
SKMO	58 Neutral	kr635.80M	57.28	―	2.43%	―	―