Stockwik Forvaltning AB (STWK) AI Stock Analysis

• Market Cap: kr136.65M
• Dividend Yield: N/A
• Average Volume (3M): 39.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: 5.41%
• EPS Growth: 20.99%
• Country: SE
• Employees: 404
• Sector: Services
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): 1.20
• Shares Outstanding: 7,211,041
• 10 Day Avg. Volume: 102,306
• 30 Day Avg. Volume: 39,352
• PEG Ratio: 0.63
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 0.14
• P/FCF Ratio: 4.62
• 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): 3.44
• Revenue Forecast (FY): kr934.00M

• Rating: 50 Neutral
• Price Target: kr19.50 ▼(-4.41% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is held back primarily by persistent net losses alongside elevated leverage, despite solid and improving free cash flow. Technical indicators also lean bearish with the stock trading below key moving averages and a negative MACD. Valuation is difficult to assess due to a negative P/E and no dividend yield data.

Positive Factors

Free cash flow expansion

Consistent, expanding free cash flow across reported years (notably strong in 2025) provides a durable internal funding source. This reduces reliance on external financing for operations, supports working capital and capex, and cushions the group while operating profit recovery persists.

Steady revenue growth & operating improvement

Sustained top-line growth combined with improved EBIT/EBITDA indicates underlying portfolio companies are improving margins. Structural operating improvement increases the probability of a durable earnings recovery once below-the-line pressures are addressed, supporting longer-term profit sustainability.

Diversified long‑term ownership model

A multi‑business holding model diversifies revenue and cashflow across subsidiaries and sectors. Active governance and operational development can unlock value and reduce single‑business risk, giving durable optionality for cash generation and strategic portfolio reshaping over months.

Negative Factors

Persistent net losses

Recurring net losses over multiple years erode retained earnings and limit the parent’s ability to accumulate equity. Even with improving operations, persistent below‑the‑line deficits constrain reinvestment capacity and prolong reliance on cash or capital actions to restore profitability.

Elevated leverage (~2x equity)

High leverage materially reduces financial flexibility and raises refinancing and interest‑rate sensitivity. With debt near 2x equity, the company faces greater strain if cashflow weakens, limiting ability to pursue acquisitions or absorb shocks without asset sales or increased borrowing costs.

Negative ROE and below‑the‑line pressures

Negative return on equity across years shows the group struggles to convert equity into profits. Persistent below‑the‑line costs and inconsistent net results mean operating gains may not translate to durable shareholder returns without structural cost reductions or one‑off fixes.

Stockwik Forvaltning AB Business Overview & Revenue Model

Company Description

Stockwik Förvaltning AB (publ) operates as an investment company in Sweden. It operates in range of industries, such as health and wellness; provides financial services, including accounting, payroll management, reporting, financial statements, and tax advice; and IT infrastructure, private and public cloud services, and consulting services to government agencies, biotechnology, consulting, construction, and other IT and business system suppliers. The company also manufactures light and heavy vehicles tires; and offers tire change, repair, balancing, and storage services; provides contracting work and construction services for the state and municipalities; manages outdoor environments and areas in larger residential and commercial properties; painting work; landscaping and horticultural services; and electricity, plumbing, and technical management services. The company was formerly known as StjärnaFyrkant AB (publ.) and changed its name to Stockwik Förvaltning AB (publ) in December 2013. Stockwik Förvaltning AB (publ) was incorporated in 1987 and is based in Täby, Sweden.

How the Company Makes Money

Stockwik Forvaltning AB generates revenue through multiple channels, primarily by charging management fees on the assets it manages for clients. These fees are typically a percentage of the total assets under management (AUM) and can vary based on the type of service provided and the size of the investment portfolio. Additionally, the company may earn performance fees if the investment returns exceed certain benchmarks or goals set with clients. Stockwik also diversifies its revenue streams through partnerships with financial institutions, offering co-branded investment products or services that enhance its market reach. Furthermore, the firm may generate income through advisory services, transaction fees, and other ancillary services that support its core investment management activities.

Stockwik Forvaltning AB Financial Statement Overview

Summary

Mixed fundamentals: steady revenue growth and improved operating profitability, but net results remain loss-making across 2023–2025 and leverage is elevated (~2x equity). Positive, expanding free cash flow is a key support, though the earnings quality and debt risk temper the overall score.

Income Statement

Revenue has grown steadily over the period, including modest growth in 2025, and operating profitability has improved versus earlier years (higher EBIT/EBITDA). However, net results remain inconsistent: profits were positive in 2022 but losses resumed in 2023–2025, indicating that below-the-line costs are still pressuring overall profitability despite healthier operating performance.

Balance Sheet

Leverage is elevated for the period, with debt running at roughly ~2x equity in recent years, which reduces financial flexibility. Equity is relatively stable, but returns on equity are negative in most years (reflecting recurring net losses). Total assets are broadly stable, yet the balance sheet risk profile remains meaningfully tied to debt levels.

Cash Flow

Cash generation is a relative strength: operating cash flow and free cash flow are positive across all years shown, and free cash flow has expanded materially over time (with strong growth in 2025). That said, operating cash flow dipped in 2025 versus 2024, and the business is still producing free cash flow while reporting net losses, which can be sustainable near-term but warrants monitoring for persistence.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	906.30M	850.90M	818.30M	764.60M	584.50M
Gross Profit	173.60M	173.20M	164.90M	149.20M	120.20M
EBITDA	99.10M	97.00M	77.90M	81.10M	67.90M
Net Income	-11.30M	-13.60M	-37.20M	3.80M	-11.00M
Balance Sheet
Total Assets	832.20M	803.40M	804.40M	932.40M	825.40M
Cash, Cash Equivalents and Short-Term Investments	68.80M	37.30M	38.70M	152.70M	187.00M
Total Debt	455.90M	423.20M	424.10M	517.50M	444.10M
Total Liabilities	615.00M	592.20M	580.70M	671.40M	571.40M
Stockholders Equity	217.20M	211.20M	223.70M	261.00M	254.00M
Cash Flow
Free Cash Flow	27.90M	50.20M	36.40M	22.80M	5.10M
Operating Cash Flow	34.50M	59.90M	40.60M	26.00M	6.20M
Investing Cash Flow	-7.70M	-26.20M	-12.90M	-102.00M	-94.20M
Financing Cash Flow	4.60M	-35.10M	-141.70M	41.80M	188.20M

Stockwik Forvaltning AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.40
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:STWK, the sentiment is Positive. The current price of 20.4 is above the 20-day moving average (MA) of 19.75, above the 50-day MA of 20.18, and below the 200-day MA of 20.93, indicating a neutral trend. The MACD of -0.12 indicates Positive momentum. The RSI at 50.06 is Neutral, neither overbought nor oversold. The STOCH value of 31.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:STWK.

Stockwik Forvaltning AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFREA	65 Neutral	kr496.46M	7.85	―	3.51%	7.83%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SEAF	54 Neutral	kr343.63M	-85.96	―	―	-1.52%	-43.08%
STWK	50 Neutral	kr136.65M	-5.78	―	―	5.41%	20.99%
NAXS	49 Neutral	kr381.84M	-15.80	―	8.78%	―	―
ATIN	46 Neutral	kr231.57M	-4.02	―	―	―	―