Want to see SE:SYSR full AI Analyst Report?
Top Page
Systemair AB
(SYSR)
Select Model
Select Model
Rating:69Neutral
Price Target:
kr92.00
▲(9.65% Upside)
Action:Reiterated
Date:06/17/26
The score is driven primarily by solid fundamentals (revenue growth and a strengthening, low-leverage balance sheet) offset by weak and inconsistent cash flow conversion. Technicals are supportive with strong trend and momentum, while valuation (P/E ~23 with a modest ~1.6% yield) is a mild headwind.
Positive Factors
Multi-year revenue uptrend
A steady multi-year revenue increase to 12.5B indicates durable market demand and successful product penetration across segments. That scale supports fixed-cost absorption, pricing leverage, and continued investment in R&D and distribution, underpinning sustainable cash generation potential over the medium term.
Negative Factors
Weak cash conversion vs. earnings
Consistently low conversion of reported earnings into operating cash constrains the firm's ability to fund investments, dividends, or debt reduction from operating results alone. This gap raises sensitivity to working-capital swings and makes capital allocation more dependent on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue uptrend
A steady multi-year revenue increase to 12.5B indicates durable market demand and successful product penetration across segments. That scale supports fixed-cost absorption, pricing leverage, and continued investment in R&D and distribution, underpinning sustainable cash generation potential over the medium term.
Read all positive factors
Systemair AB (SYSR) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr17.31B
Dividend Yield1.62%
Average Volume (3M)92.30K
Price to Earnings (P/E)22.8
Beta (1Y)0.85
Revenue Growth1.64%
EPS Growth12.06%
CountrySE
Employees7,408
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.67
Shares Outstanding208,000,000
10 Day Avg. Volume124,150
30 Day Avg. Volume92,295
Financial Highlights & Ratios
PEG Ratio1.58
Price to Book (P/B)2.41
Price to Sales (P/S)1.18
P/FCF Ratio23.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr100.00Price Target Upside19.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)4.57
Revenue Forecast (FY)kr13.14B
Systemair AB Business Overview & Revenue Model
Company Description
Systemair AB (publ), a Swedish-based ventilation specialist, is globally active in the development, manufacturing, and distribution of a comprehensive range of air handling and climate control solutions. Its operations span diverse international m...
How the Company Makes Money
Systemair makes money primarily by selling ventilation products and systems to customers involved in building construction, renovation, and ongoing facility upgrades. Revenue is generated from (1) product sales of ventilation equipment—such as air...
Systemair AB Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
78
Positive
Cash Flow
56
Neutral
| Breakdown | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 | Apr 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.50B | 12.30B | 12.26B | 12.06B | 9.63B |
| Gross Profit | 4.59B | 4.46B | 4.21B | 4.11B | 3.32B |
| EBITDA | 1.56B | 1.48B | 1.38B | 1.79B | 1.14B |
| Net Income | 760.80M | 680.70M | 645.60M | 1.04B | 543.90M |
Balance Sheet | |||||
| Total Assets | 9.89B | 9.37B | 9.79B | 9.63B | 8.47B |
| Cash, Cash Equivalents and Short-Term Investments | 426.80M | 426.00M | 419.30M | 343.80M | 339.30M |
| Total Debt | 1.29B | 1.29B | 1.46B | 1.84B | 2.38B |
| Total Liabilities | 3.77B | 3.61B | 4.14B | 4.36B | 4.62B |
| Stockholders Equity | 6.11B | 5.76B | 5.65B | 5.27B | 3.82B |
Cash Flow | |||||
| Free Cash Flow | 624.40M | 1.18B | 922.00M | 225.20M | -107.50M |
| Operating Cash Flow | 1.16B | 1.18B | 1.33B | 587.70M | 235.20M |
| Investing Cash Flow | -668.30M | -473.70M | -389.70M | 318.60M | -515.90M |
| Financing Cash Flow | -483.60M | -614.20M | -898.10M | -959.50M | 274.90M |
Systemair AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | kr17.31B | 22.75 | 12.85% | 1.61% | 1.64% | 12.06% | |
69 Neutral | kr26.76B | 19.13 | ― | 2.74% | 1.66% | 26.04% | |
68 Neutral | kr13.54B | 24.54 | 7.49% | 2.09% | -4.48% | -23.29% | |
66 Neutral | kr10.20B | 25.86 | 12.77% | 1.29% | 4.03% | 38.99% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | kr9.31B | 13.96 | 9.30% | 4.57% | -3.25% | 125.54% | |
52 Neutral | kr75.95B | 32.32 | 7.85% | 0.94% | 0.29% | -1.32% |
* Industrials Sector Average
SE:SYSR
Systemair AB
83.50
-9.45
-10.17%
SE:LIAB
Lindab International AB
124.10
-76.33
-38.08%
SE:NIBE.B
NIBE Industrier AB
38.14
-5.47
-12.55%
SE:INSTAL
Instalco AB
37.50
12.05
47.34%
SE:ALIG
Alimak Group AB
127.60
-34.44
-21.26%
SE:BRAV
Bravida Holding AB
131.40
44.22
50.73%
Systemair AB Corporate Events
Systemair calls 2026 AGM with broad shareholder participation options
Jul 23, 2026
Systemair AB has called shareholders to its annual general meeting on 27 August 2026 at Systemair Expo in Skinnskatteberg, Sweden, offering both on-site participation and postal voting in line with Swedish company law. The meeting framework unders...
Systemair launches R290-based Geniox heat pump unit to meet new EU rules
Jun 18, 2026
Systemair, a global ventilation specialist listed on Nasdaq Stockholm, focuses on energy-efficient indoor climate solutions across multiple regions and brands. The company has built a long track record of profitable growth and serves commercial, p...
Systemair lifts profitability and dividend on solid organic growth in 2025/26
Jun 10, 2026
Systemair reported solid performance for its 2025/26 financial year, with organic growth of 6.1% and net sales up 1.6% to SEK 12.5 billion despite a significant negative currency effect. Adjusted operating profit improved to SEK 1.17 billion, lift...
Systemair Wins Malmö Aquatic Centre Deal With Pioneering CO₂ Pool Technology
Jun 10, 2026
Systemair, a global ventilation specialist, is expanding its footprint in sustainable aquatic facilities through an advanced project at the new Heleneholm swimming complex in Malmö. The company, which markets products under several brands inc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.