Swedish Undervalued Stocks Based On Cash Flows

Coffee Stain Group

Market Cap: SEK 4.8b

Develops and publishes community-driven games primarily for PC and console platforms in Scandinavia and internationally.

Ework Group

Market Cap: SEK 1.0b

Engages in the provision of total talent solutions for IT/OT, research and development, engineering, and business development in Sweden, Norway, Finland, Germany, Denmark, Poland, the Netherlands, and Slovakia.

Cavotec Group

Market Cap: SEK 1.4b

A cleantech company, designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications in Europe, the Middle East, Africa, the Asia Pacific, and Americas.

Cint Group

Market Cap: SEK 2.1b

Operates as a research and measurement technology in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Nordic LEVEL Group AB (publ.)

Market Cap: SEK 103.8m

Provides safety and security solutions primarily in Sweden.

Waystream Holding

Market Cap: SEK 352.1m

Engages in the provision of routers and switches that are used in the fiber markets and peripherals in Sweden.

Hanza

Market Cap: SEK 11.2b

Provides contract manufacturing solutions in Sweden, Finland, Estonia, Germany, Poland, the Czech Republic, rest of the European Union, Norway, rest of Europe, North America, and internationally.

Dometic Group

Market Cap: SEK 10.3b

Provides mobile living solutions for food and beverage, climate, power and control, and other applications in the United States, Germany, Australia, Italy, France, United Kingdom, Japan, Canada, the Netherlands, Sweden, and internationally.

Sdiptech

Market Cap: SEK 9.6b

Provides technical services for infrastructures in Sweden, the United Kingdom, Germany, Denmark, Italy, the Netherlands, Norway, Finland, the Unites States, and internationally.

Micro Systemation

Market Cap: SEK 1.4b

Provides forensic technology for mobile device examination and analysis in Sweden and internationally.

Qualisys Holding

Market Cap: SEK 465.0m

Provides precision motion capture and 3D positioning tracking systems in Europe, the Middle East, Africa, the United States, and the Asia-Pacific.

Hemnet Group

Market Cap: SEK 8.8b

Operates a residential property platform in Sweden.

RaySearch Laboratories

Market Cap: SEK 6.9b

A medical technology company, provides software solutions for cancer treatment worldwide.

BHG Group

Market Cap: SEK 4.3b

Operates as a consumer e-commerce company in Sweden, Finland, Denmark, Norway, rest of Europe, and internationally.

Smart Eye

Market Cap: SEK 3.4b

Develops human insight artificial intelligence (AI) technology solutions that understand, support, and predict human behavior in the Nordics countries, the rest of Europe, North America, Asia, and internationally.

Cheffelo

Market Cap: SEK 1.6b

Provides subscription-based meal kit solutions to various customers in Sweden, Norway, and Denmark.

Bonesupport Holding

Market Cap: SEK 17.0b

An orthobiologics company, develops and commercializes injectable bio-ceramic bone graft substitutes in the United States, Europe, and internationally.

Haypp Group

Market Cap: SEK 4.5b

An e-commerce company, engages in the sale of reduced-risk nicotine pouches and snus products in Sweden, Norway, Europe, and the United States.

Sinch

Market Cap: SEK 28.4b

Sinch AB (publ), together with its subsidiaries, provide cloud communications services and digital customer engagement channels to the enterprise sector.

SinterCast

Market Cap: SEK 725.4m

Provides process control technology to produce compacted graphite iron (CGI) for the foundry and automotive industries in Brazil, Mexico, Sweden, the United States of America, Korea, China, Spain, Japan, the United Kingdom, and internationally.

Stille

Market Cap: SEK 2.1b

Develops, manufactures, and distributes medtech products in Sweden, Germany, the United Kingdom, Switzerland, North America, the United States, and internationally.

Enea

Market Cap: SEK 1.6b

Provides software products for telecom and cybersecurity industries worldwide.

Carasent

Market Cap: SEK 1.7b

Provides cloud based electronic health record (EHR) systems solutions and platform services for healthcare sector in Nordics and Germany.

Elekta

Market Cap: SEK 22.9b

A medical technology company, provides clinical solutions for treating cancer and brain disorders in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Nordrest Holding

Market Cap: SEK 3.9b

Operates as a foodservice company in Sweden and internationally.

Troax Group

Market Cap: SEK 6.3b

Through its subsidiaries, produces and sells mesh panels in the Nordic region, the United Kingdom, North America, Europe, and internationally.

Clemondo Group

Market Cap: SEK 108.0m

Develops, manufactures, and sells a range of hygiene and cleaning products for automotive, medical care, and industrial sectors in Sweden.

New Wave Group

Market Cap: SEK 13.0b

Designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Benelux, rest of Nordic countries, rest of Europe, and internationally.

Acast

Market Cap: SEK 6.3b

Operates as a podcasting company in Europe, North America, and internationally.

KB Components

Market Cap: SEK 2.2b

Designs, develops, manufactures, and sells polymer components for light vehicles, heavy vehicles, medical technology, general industry, furniture, industrial windows, and packaging and lighting in Sweden and internationally.

Dynavox Group

Market Cap: SEK 8.6b

Through its subsidiaries, engages in the development and sale of assistive technology products for customers with communication disabilities.

Vestum

Market Cap: SEK 4.3b

Engages in the infrastructure, water, and service businesses in Sweden and internationally.

Avarda Bank

Market Cap: SEK 10.5b

A digital credit and payment platform, provides consumer banking services and e-commerce solutions in Sweden.

Vitrolife

Market Cap: SEK 14.6b

Provides assisted reproduction products in Europe, the Middle East, Africa, Asia-Pacific, and the Americas.

Ratos

Market Cap: SEK 11.3b

A private equity firm specializing in buyouts, turnarounds, add on acquisitions, and middle market transactions.

Mentice

Market Cap: SEK 428.9m

Develops, sells, and markets solutions for training and decision support in the clinical area of interventional angiography in cardiology, neurology, vascular surgery, and radiology.