Swedish Undervalued Stocks Based On Cash Flows

Bactiguard Holding

Market Cap: SEK 1.2b

A medical device company, provides infection prevention solutions in orthopedics, urology, intravascular/critical care, dental, and wound care therapeutic areas in the United States, Sweden, Malaysia, India, Bangladesh, Indonesia, the Kingdom of Saudi Arabia, and internationally.

Mips

Market Cap: SEK 9.2b

Develops, manufactures, and sells helmet-based safety systems in North America, Europe, Sweden, Asia, and Australia.

Studsvik

Market Cap: SEK 953.4m

Provides technical solutions across the nuclear and radioactive material lifecycle in Sweden, Germany, rest of Europe, Asia, North America, and internationally.

Clemondo Group

Market Cap: SEK 111.5m

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

Stille

Market Cap: SEK 1.9b

Manufactures and markets surgical instruments in Sweden and internationally.

Bonesupport Holding

Market Cap: SEK 19.7b

An orthobiologics company, develops and commercializes injectable bio-ceramic bone graft substitutes in Europe, North America, and internationally.

PowerCell Sweden

Market Cap: SEK 1.5b

Develops and produces fuel cells and fuel cell systems for automotive, marine, and stationary applications in Sweden and internationally.

Better Collective

Market Cap: SEK 7.1b

Operates as a digital sports media company in Europe, North America, and internationally.

Norva24 Group

Market Cap: SEK 6.6b

Provides underground infrastructure maintenance services in Northern Europe.

Adtraction Group

Market Cap: SEK 528.1m

Provides advertising services in Europe.

Lea Bank

Market Cap: SEK 1.3b

Provides various banking products and services in Norway, Finland, Sweden, Germany, Spain, Austria, and France.

Dynavox Group

Market Cap: SEK 5.7b

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

Carasent

Market Cap: SEK 1.6b

A technology company, engages in developing software for the health and care sector.

NCAB Group

Market Cap: SEK 7.9b

Manufactures and sells printed circuit boards (PCBs) in Sweden, Nordic region, rest of Europe, North America, and Asia.

Husqvarna

Market Cap: SEK 24.9b

Produces and sells outdoor power products, watering products, and lawn care power equipment.

Asmodee Group

Market Cap: SEK 21.3b

Engages in publishing and distributing tabletop games.

Nordrest Holding

Market Cap: SEK 1.6b

Operates as a foodservice company in Sweden and internationally.

HMS Networks

Market Cap: SEK 18.9b

Engages in the provision of products that enable industrial equipment to communicate and share information worldwide.

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.

Genovis AB (publ.)

Market Cap: SEK 1.2b

Develops and sells tools for the development of new treatment methods and diagnostics for customers in the pharmaceutical and research industries.

Humana

Market Cap: SEK 2.2b

Provides individual and family care services for children and adults in Sweden, Finland, Norway, and Denmark.

Vimian Group

Market Cap: SEK 20.4b

Engages in the animal health business worldwide.

EQT

Market Cap: SEK 293.0b

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

MilDef Group

Market Cap: SEK 9.7b

Through its subsidiaries, develops, manufactures, and sells rugged IT solutions in Sweden, Norway, Finland, Denmark, the United Kingdom, Germany, Switzerland, the United States, Australia, and internationally.

Waystream Holding

Market Cap: SEK 190.4m

Provides routers and switches that are used in the fiber markets and peripherals in Sweden.

CellaVision

Market Cap: SEK 3.7b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

AddLife

Market Cap: SEK 17.5b

Provides equipment, consumables, and reagents primarily to healthcare sector, research, colleges, and universities, as well as the food and pharmaceutical industries.

Cint Group

Market Cap: SEK 2.3b

Provides software solutions for digital insights and research technology worldwide.

Xvivo Perfusion

Market Cap: SEK 8.6b

A medical technology company, develops and markets machines and perfusion solutions for assessing usable organs and maintains in optimal condition pending transplantation in Sweden, the United States, the Netherlands, Italy, North and South America, Europe, the Middle East, Africa, the Asia Pacific, and Oceania.

ES Energy Save Holding

Market Cap: SEK 131.7m

Develops heat pumps for commercial buildings.

Troax Group

Market Cap: SEK 9.6b

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

BrainCool

Market Cap: SEK 422.7m

A medical device company, together with its subsidiaries, engages in the development, marketing, and sale of medical cooling systems for the healthcare sector in Sweden.

Vertiseit

Market Cap: SEK 1.8b

A retail tech company, operates digital in-store platform in Sweden.

Munters Group

Market Cap: SEK 18.7b

Engages in the provision of climate solutions in Sweden and internationally.

Hanza

Market Cap: SEK 2.9b

Provides manufacturing solutions.

Generic Sweden

Market Cap: SEK 724.0m

A technology company, provides messaging services for all applications.