Premium Snacks Nordic AB (SNX) AI Stock Analysis

• Market Cap: kr549.51M
• Dividend Yield: 0.51%
• Average Volume (3M): 52.22K
• Price to Earnings (P/E): 20.7
• Beta (1Y): 0.55
• Revenue Growth: 22.02%
• EPS Growth: 127.51%
• Country: SE
• Employees: 70
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.28
• Shares Outstanding: 13,601,653
• 10 Day Avg. Volume: 12,255
• 30 Day Avg. Volume: 52,221
• PEG Ratio: 0.15
• Price to Book (P/B): 6.30
• Price to Sales (P/S): 0.96
• P/FCF Ratio: -596.81
• 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): kr637.00M

• Rating: 56 Neutral
• Price Target: kr39.00 ▼(-6.70% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is supported by a clear TTM earnings recovery and improving leverage, but is held back by the weak cash-flow profile (FCF slightly negative) and soft technical setup (negative MACD and price below key short/mid-term moving averages). Valuation is moderate with a low dividend yield.

Positive Factors

Improving profitability and margins

Sustained margin recovery and rising operating profitability indicate stronger earnings power that can support reinvestment and resilience to input-cost shocks. For a packaged-foods player, a consistent step-up in EBIT/EBITDA suggests operational improvements with lasting impact on cash flow potential and competitive positioning.

Improving leverage and high ROE

A materially lower debt-to-equity and a high ROE provide durable financial flexibility: less interest burden, stronger capacity for targeted capex or product investment, and a buffer versus cyclical earnings dips. Improved capital structure enhances long-term strategic optionality and lowers refinancing risk.

Stable gross margin with revenue growth

A steady ~41% gross margin alongside positive revenue growth denotes relative pricing power or stable input-cost pass-through in core products. That combination supports sustainable operating margins over time and implies the company can grow top line without eroding core profitability.

Negative Factors

Weak cash generation and slightly negative FCF

Negative free cash flow and a recent decline in operating cash flow are structural concerns: they constrain reinvestment, limit discretionary spending and dividend flexibility, and increase reliance on external financing for growth. Over a multi-month horizon, weak FCF undermines strategic initiatives and balance-sheet strength.

Weak cash conversion versus earnings

FCF materially below net income signals earnings quality and working-capital strain; reported profits are not fully converting to cash. That raises the risk that margin improvements may be illiquid, increasing sensitivity to inventory, receivables, or supplier terms and weakening financial durability.

Historical volatility in margins and leverage

Past periods of higher leverage and the firm's history of near-breakeven or loss years imply vulnerability to margin compression. In a modest-margin packaged-foods business, swings in input costs or volume can rapidly erode equity and re-tighten financing capacity, making stability contingent on sustaining current improvements.

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

Profitability has improved meaningfully in TTM (revenue +6.6%, net margin ~4.0%, EBIT ~5.9%, EBITDA ~8.1%) and leverage is more manageable (debt-to-equity ~0.50, ROE ~28%). The key drag is cash flow: operating cash flow weakened and free cash flow turned slightly negative in TTM, raising sustainability and working-capital/reinvestment concerns.

Income Statement

TTM (Trailing-Twelve-Months) shows a clear step-up in profitability: revenue is up 6.6% with net margin improving to ~4.0% versus ~2.2% in 2024 and near breakeven/loss levels in 2022–2023. Gross margin is steady around ~41%, while operating profitability has strengthened (EBIT margin ~5.9% and EBITDA margin ~8.1% in TTM). Key watch-out is that while margins improved, they are still modest for packaged foods and have shown historical volatility (2022 loss year).

Balance Sheet

Leverage looks manageable and improving: debt-to-equity is ~0.50 in TTM, down from ~0.94 in 2023, alongside growing equity. Returns on equity are strong in TTM (~28%), reflecting improved earnings power. The main risk is that the company has operated with higher leverage in prior years and profitability swings can quickly change balance-sheet comfort, particularly in a lower-margin category.

Cash Flow

Cash generation weakened in TTM: operating cash flow fell to ~19.2m and free cash flow turned slightly negative (-0.9m) after being solidly positive in 2024 (~14.8m). Cash conversion also looks weaker, with free cash flow running well below net income in TTM, suggesting working-capital or reinvestment pressure. Positives include a return to consistently positive operating cash flow after the 2022 downturn, but the latest TTM reversal in free cash flow is a notable red flag.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	564.28M	453.83M	370.68M	323.46M	321.83M
Gross Profit	33.52M	188.21M	149.74M	126.49M	137.93M
EBITDA	46.61M	28.95M	19.05M	4.88M	16.79M
Net Income	24.91M	9.92M	955.00K	-8.17M	2.28M
Balance Sheet
Total Assets	217.53M	170.46M	165.76M	144.80M	146.02M
Cash, Cash Equivalents and Short-Term Investments	3.83M	834.00K	364.00K	1.23M	2.34M
Total Debt	45.48M	38.64M	55.29M	43.98M	31.74M
Total Liabilities	132.05M	102.05M	106.69M	86.67M	79.95M
Stockholders Equity	85.48M	68.41M	59.07M	58.13M	66.07M
Cash Flow
Free Cash Flow	-903.00K	14.78M	2.86M	-13.54M	-1.67M
Operating Cash Flow	19.20M	25.03M	9.03M	-6.32M	8.55M
Investing Cash Flow	-23.51M	-10.37M	-6.17M	-7.23M	-10.22M
Financing Cash Flow	7.31M	-14.19M	-3.73M	12.43M	-23.56M

Premium Snacks Nordic AB Technical Analysis

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

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SNX, the sentiment is Neutral. The current price of 41.8 is below the 20-day moving average (MA) of 43.14, below the 50-day MA of 43.56, and above the 200-day MA of 37.09, indicating a neutral trend. The MACD of -1.91 indicates Positive momentum. The RSI at 44.48 is Neutral, neither overbought nor oversold. The STOCH value of 33.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	kr1.27B	22.39	―	4.05%	12.49%	116.06%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
MSON.B	58 Neutral	kr1.67B	164.24	-0.17%	2.34%	-2.95%	-112.90%
SKMO	58 Neutral	kr525.80M	47.86	―	2.43%	―	―
NNH	57 Neutral	kr130.72M	15.95	―	―	5.91%	―
SNX	56 Neutral	kr549.51M	20.68	―	0.51%	22.02%	127.51%
HUMBLE	50 Neutral	kr3.16B	197.77	0.87%	―	5.99%	-38.16%