Vitec Software Group AB Class B (SE:VIT.B)
:VIT.B
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Vitec Software Group AB Class B
(VIT.B)
Select Model
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Rating:67Neutral
Price Target:
kr242.00
▼(-31.33% Downside)
Action:Downgraded
Date:06/02/26
The score is driven primarily by strong financial performance (rapid top-line and free-cash-flow growth with solid margins), tempered by margin variability and increasing leverage. Technicals are neutral-to-mixed with only modest positive momentum, and valuation is somewhat elevated (P/E ~24.8) with a modest dividend yield (~1.27%).
Positive Factors
Recurring, vertical software model
A recurring licensing and subscription model in vertical niches supports predictable, sticky revenue and high lifetime value. Specialised industry solutions boost customer retention and cross-sell potential, underpinning steady organic revenue and easing forecasting over the next several quarters.
Negative Factors
Rising leverage
Material increase in debt and moderate leverage reduce financial flexibility and raise interest-rate sensitivity. If growth or margins soften, higher leverage can pressure covenants, constrain M&A capacity, or force tighter capital allocation, affecting strategic options over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, vertical software model
A recurring licensing and subscription model in vertical niches supports predictable, sticky revenue and high lifetime value. Specialised industry solutions boost customer retention and cross-sell potential, underpinning steady organic revenue and easing forecasting over the next several quarters.
Read all positive factors
Vitec Software Group AB Class B (VIT.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr8.91B
Dividend Yield1.14%
Average Volume (3M)50.09K
Price to Earnings (P/E)19.6
Beta (1Y)0.78
Revenue Growth5.39%
EPS Growth7.51%
CountrySE
Employees1,660
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)11.36
Shares Outstanding37,400,290
10 Day Avg. Volume42,172
30 Day Avg. Volume50,091
Financial Highlights & Ratios
PEG Ratio13.79
Price to Book (P/B)2.54
Price to Sales (P/S)3.38
P/FCF Ratio11.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.69
Revenue Forecast (FY)kr3.97B
Vitec Software Group AB Class B Business Overview & Revenue Model
Company Description
Vitec Software Group AB (publ), established in 1985 and headquartered in Umeå, Sweden, specializes in the development and delivery of niche software solutions for a wide range of vertical markets. The company's operations span the Nordic countries...
How the Company Makes Money
Vitec primarily makes money by selling and operating its own vertical software products, typically under recurring licensing/subscription-style arrangements that generate ongoing revenue over the customer lifecycle (e.g., access rights, upgrades, ...
Vitec Software Group AB Class B Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.71B | 3.63B | 3.33B | 2.78B | 1.98B | 1.57B |
| Gross Profit | 868.71M | 918.73M | 1.23B | 1.05B | 1.19B | 751.44M |
| EBITDA | 1.34B | 1.29B | 1.32B | 940.05M | 620.70M | 496.64M |
| Net Income | 450.95M | 435.36M | 410.10M | 339.18M | 244.87M | 206.94M |
Balance Sheet | ||||||
| Total Assets | 11.81B | 10.27B | 10.08B | 7.83B | 6.32B | 3.75B |
| Cash, Cash Equivalents and Short-Term Investments | 759.02M | 416.51M | 243.55M | 171.85M | 615.79M | 119.85M |
| Total Debt | 3.61B | 3.04B | 2.54B | 2.26B | 1.63B | 873.76M |
| Total Liabilities | 6.76B | 5.43B | 5.18B | 4.42B | 3.11B | 1.76B |
| Stockholders Equity | 5.05B | 4.84B | 4.91B | 3.41B | 3.21B | 1.99B |
Cash Flow | ||||||
| Free Cash Flow | 886.71M | 1.08B | 546.46M | 341.45M | 278.02M | 259.83M |
| Operating Cash Flow | 1.14B | 1.11B | 949.04M | 718.40M | 563.37M | 488.02M |
| Investing Cash Flow | -1.65B | -1.18B | -1.96B | -1.68B | -1.44B | -1.51B |
| Financing Cash Flow | 767.41M | 266.87M | 1.10B | 489.91M | 1.34B | 1.02B |
Vitec Software Group AB Class B Technical Analysis
Negative
352.40
Price Trends
257.67
Negative
248.13
Negative
284.50
Negative
Market Momentum
-8.57
Positive
31.75
Neutral
8.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VIT.B, the sentiment is Negative. The current price of 352.4 is above the 20-day moving average (MA) of 255.02, above the 50-day MA of 257.67, and above the 200-day MA of 284.50, indicating a bearish trend. The MACD of -8.57 indicates Positive momentum. The RSI at 31.75 is Neutral, neither overbought nor oversold. The STOCH value of 8.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:VIT.B.
Vitec Software Group AB Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | kr2.66B | 23.38 | 32.28% | 1.41% | 6.61% | 20.90% | |
67 Neutral | kr8.91B | 19.63 | 8.26% | 1.14% | 5.39% | 7.51% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | kr1.43B | 16.42 | ― | ― | -2.24% | -18.90% | |
54 Neutral | kr2.03B | -1.03 | -50.59% | ― | -14.28% | -2243.88% | |
51 Neutral | kr3.25B | -22.85 | ― | ― | 22.58% | 39.84% |
* Technology Sector Average
SE:VIT.B
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Vitec Software Group AB Class B Corporate Events
Vitec to Restate Transaction Revenue Under ESMA Agent Model, Lifting Margins
May 7, 2026
Vitec Software Group is changing how it accounts for certain transaction-based revenues in two subsidiaries following updated European Securities and Markets Authority guidance on principal-versus-agent rules. The Enova grid balancing and Vitec Bi...
Vitec AGM Backs Dividend, Share Authorizations and New Incentive Plans
Apr 28, 2026
Vitec Software Group AB’s Annual General Meeting in Umeå approved the 2025 financial statements and confirmed a quarterly dividend totaling SEK 3.68 per share, underscoring continued shareholder returns. Shareholders also granted the bo...
Vitec Software Group Lifts Margins and Expands Portfolio in Strong First Quarter
Apr 23, 2026
Vitec Software Group reported a solid start to 2026, with first-quarter net sales rising 9% to SEK 955 million and recurring revenues up 7% to SEK 839 million, driven by both innovation-led upselling and price adjustments. Profitability improved a...
Vitec to Webcast First-Quarter 2026 Interim Report Presentation
Apr 2, 2026
Vitec Software Group will publish its interim report for January–March 2026 on April 23 at 8:00 a.m. CEST, followed by an English-language webcast presentation with CEO Olle Backman and Head of Investor Relations Patrik Fransson at 10:00 a.m...
Vitec Software Group Sets April 28 Date for 2026 Annual General Meeting
Mar 30, 2026
Vitec Software Group AB has convened its Annual General Meeting for April 28, 2026, at the Clarion Hotel Umeå in Sweden, with proceedings to be held in Swedish. Shareholders must be registered with Euroclear Sweden by April 20 and complete th...
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.