Swedish Undervalued Stocks Based On Cash Flows

Axfood

Market Cap: SEK 69.3b

Engages in the food retail and wholesale businesses primarily in Sweden.

Qualisys Holding

Market Cap: SEK 499.5m

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

Haypp Group

Market Cap: SEK 4.0b

Operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, the rest of Europe, and the United States.

Smart Eye

Market Cap: SEK 2.1b

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.

SinterCast

Market Cap: SEK 621.1m

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.

Careium

Market Cap: SEK 496.3m

Provides technology-enabled care services in Sweden, Norway, the United Kingdom, the Netherlands, Germany, France, and Spain.

Arlandastad Group

Market Cap: SEK 2.7b

Operates as a real estate development company in Sweden.

Nordisk Bergteknik

Market Cap: SEK 692.6m

Provides rock handling and foundation solutions in Sweden, Norway, Finland, and internationally.

Elekta

Market Cap: SEK 23.7b

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.

Stille

Market Cap: SEK 1.6b

Develops, manufactures, and distributes medtech products in Sweden and internationally.

Ependion

Market Cap: SEK 3.2b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Nordrest Holding

Market Cap: SEK 3.9b

Operates as a foodservice company in Sweden and internationally.

RaySearch Laboratories

Market Cap: SEK 6.7b

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

Asmodee Group

Market Cap: SEK 23.9b

Engages in publishing and distribution of tabletop games.

Rusta

Market Cap: SEK 11.9b

Engages in the retail of products in home decoration, consumables, seasonal products, leisure, and Do It Yourself (DIY) categories in Sweden, Norway, Finland, and Germany.

CDON

Market Cap: SEK 802.9m

Operates online marketplace in Sweden and other Nordics region.

BHG Group

Market Cap: SEK 4.4b

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

Momentum Group

Market Cap: SEK 6.4b

Supplies industrial components, industrial services, and related services to the industrial sector in Sweden, Norway, Denmark, Finland, and internationally.

W5 Solutions

Market Cap: SEK 971.0m

Develops and delivers systems and solutions for the defense and civil protection sectors in Sweden.

GiG Software

Market Cap: SEK 617.8m

Provides online gaming services, primarily casino and sports, and a remote gaming platform in Europe, North America, South America, and internationally.

Carasent

Market Cap: SEK 1.6b

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

Genovis AB (publ.)

Market Cap: SEK 1.1b

Develops and sells tools for the development of new treatment methods and diagnostics in North America, Europe, and Asia.

Coffee Stain Group

Market Cap: SEK 3.7b

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

Mentice

Market Cap: SEK 393.8m

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

Arcoma

Market Cap: SEK 123.3m

Develops, produces, and provides radiology solutions and digital x-ray systems in Sweden and internationally.

Vitrolife

Market Cap: SEK 12.7b

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

Dynavox Group

Market Cap: SEK 8.9b

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

SyntheticMR

Market Cap: SEK 1.2b

Engages in the development and marketing of imaging and software solutions for magnetic resonance imaging (MRI) in Sweden and internationally.

AB Volvo

Market Cap: SEK 669.2b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, Africa, and Oceania.

Bergman & Beving

Market Cap: SEK 7.3b

Provides solutions for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally.

BioGaia

Market Cap: SEK 11.2b

A healthcare company, develops, manufactures, markets and sells probiotic products for gut, oral, and immune health in Europe, the Middle East, Africa, the United States, the Asia-Pacific, Australia, and New Zealand.

Hemnet Group

Market Cap: SEK 12.0b

Operates a residential property platform in Sweden.

Hexatronic Group

Market Cap: SEK 6.2b

Develops, manufactures, markets, and sells fiber communication solutions in Sweden, the United States, Germany, the United Kingdom, and internationally.

EQT

Market Cap: SEK 335.1b

A global private equity & venture capital firm specializing in private capital and real asset segments.

Vimian Group

Market Cap: SEK 13.3b

Engages in the animal health business worldwide.

Nitro Games Oyj

Market Cap: SEK 34.4m

Develops and publishes mobile games in the European Union, North America, the United Kingdom, and internationally.