Swedish Undervalued Stocks Based On Cash Flows

Nordisk Bergteknik

Market Cap: SEK 658.2m

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

Vitrolife

Market Cap: SEK 13.1b

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

Cheffelo

Market Cap: SEK 1.4b

Engages in the supply and delivery of meal kits to various customers in Sweden, Norway, and Denmark.

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.

Sdiptech

Market Cap: SEK 8.7b

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

Arlandastad Group

Market Cap: SEK 2.7b

Operates as a real estate development company in Sweden.

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.

Bonesupport Holding

Market Cap: SEK 15.3b

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

Hemnet Group

Market Cap: SEK 9.8b

Operates a residential property platform in Sweden.

SinterCast

Market Cap: SEK 633.8m

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.

W5 Solutions

Market Cap: SEK 870.1m

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

Haypp Group

Market Cap: SEK 4.2b

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

Ependion

Market Cap: SEK 3.1b

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

Careium

Market Cap: SEK 476.8m

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

Nordrest Holding

Market Cap: SEK 3.9b

Operates as a foodservice company in Sweden and internationally.

RaySearch Laboratories

Market Cap: SEK 6.8b

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

Axfood

Market Cap: SEK 68.6b

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

Lime Technologies

Market Cap: SEK 2.7b

Lime Technologies AB (publ) software as a service (SaaS) based customer relationship management (CRM) solutions in the Nordic region.

Elekta

Market Cap: SEK 21.0b

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.

Rusta

Market Cap: SEK 15.3b

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 800.6m

Operates online marketplace in Sweden and other Nordics region.

Asmodee Group

Market Cap: SEK 26.1b

Engages in publishing and distribution of tabletop games.

Cavotec Group

Market Cap: SEK 1.5b

A cleantech company, designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications worldwide.

Mentice

Market Cap: SEK 374.1m

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

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.

Wästbygg Gruppen

Market Cap: SEK 233.2m

Operates as a construction and project development company in Sweden, Norway, Denmark, and Finland.

Qualisys Holding

Market Cap: SEK 499.0m

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

Arcoma

Market Cap: SEK 119.3m

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

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.

Idun Industrier

Market Cap: SEK 3.6b

An investment holding company, invests in and develops industrial and service businesses in Sweden, rest of Nordic countries, rest of Europe, and internationally.

AB Volvo

Market Cap: SEK 663.6b

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

Stille

Market Cap: SEK 2.0b

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

Coffee Stain Group

Market Cap: SEK 4.0b

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

Nitro Games Oyj

Market Cap: SEK 31.3m

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

BHG Group

Market Cap: SEK 4.1b

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

PowerCell Sweden

Market Cap: SEK 1.1b

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