Inission AB

Inission AB maintains a debt-to-equity ratio of 0.65, indicating a moderate reliance on debt financing, and a current ratio of 1.48, suggesting adequate short-term liquidity to cover its obligations. However, the company's operating cash flow is negative at -19.48 million SEK, which contrasts with a free cash flow of 51.78 million SEK, indicating that capital expenditures are being offset by operational cash generation. The company's liquidity risk is assessed as medium, with a key flag noting that net cash is negative after subtracting total debt.

The company's profitability is reflected in a return on equity (ROE) of 5.63% and a return on assets (ROA) of 2.09%, both of which are below the industry median for electronic equipment and parts firms. The operating margin of 8.78% (calculated from operating income of 51.05 million SEK on revenue of 581.06 million SEK) is also below the industry median, indicating that Inission is underperforming in terms of operational efficiency.

Inission's revenue is concentrated in a single business segment, with no disclosed geographic diversification. The company's exposure to a single market or customer base could pose a concentration risk, particularly in the event of a downturn in the industrial or technology sectors.

Looking ahead, Inission is projected to see a 10.7% increase in revenue in the current fiscal year, with a further 12.3% growth expected in the following year. This growth trajectory is supported by a historical revenue increase of 13.4% year-over-year. However, the company's risk assessment highlights a medium liquidity risk and a low dilution risk, with no significant dilution expected in the near term.

Recent events include the filing of a 2023 annual report, which disclosed a net income of 36.54 million SEK and a gross profit of 203.50 million SEK. The company also reported a capital expenditure of -6.16 million SEK, indicating a reduction in capital spending. Analysts have estimated a mean EPS of 4.97 SEK for the upcoming quarter, significantly higher than the last actual EPS of 1.30 SEK, suggesting a potential earnings surprise.

Inission generated 2.2 billion SEK in revenue for fiscal year 2026, demonstrating significant scale within the electronic equipment sector.

Inission recorded a 14.5% revenue CAGR over the last four years, indicating strong historical top-line growth momentum.

The firm maintained positive free cash flow of 77.6 million SEK in 2026, supporting operational self-sufficiency despite margin compression.

Inission carries a high credit risk flag, indicating potential difficulties in meeting financial obligations or securing favorable financing.

The company's debt-to-equity ratio of 0.65 is more than double the 0.26 cohort median, reflecting elevated leverage.

Cash conversion of -0.53 places Inission in the bottom quartile of its cohort, highlighting poor earnings quality.

Revenue kr 531.1M, +13,5% YoY; Operating income +7,4% YoY.

• ▍Revenue kr 531.1M, +13,5% YoY
• ▍Operating income +7,4% YoY
• ▍Net income +28,4% YoY
• ▍Free cash flow +14,6% YoY
• ▍Net margin 3.2%

Revenue kr 534.5M, −6,2% YoY; Operating income −16,3% YoY.

• ▍Revenue kr 534.5M, −6,2% YoY
• ▍Operating income −16,3% YoY
• ▍Net income −11,5% YoY
• ▍Free cash flow −62,1% YoY
• ▍Net margin 2.4%

Revenue kr 483.6M, −16,8% YoY; Operating income −62,6% YoY.

• ▍Revenue kr 483.6M, −16,8% YoY
• ▍Operating income −62,6% YoY
• ▍Net income −95,1% YoY
• ▍Free cash flow −79,7% YoY
• ▍Net margin 0.4%

Revenue kr 531.2M; Operating income kr 16.9M.

• ▍Revenue kr 531.2M
• ▍Operating income kr 16.9M
• ▍Net margin 1.6%

Revenue kr 467.9M; Operating income kr 25.8M.

• ▍Revenue kr 467.9M
• ▍Operating income kr 25.8M
• ▍Net margin 2.8%

Revenue kr 569.6M; Operating income kr 27.7M.

• ▍Revenue kr 569.6M
• ▍Operating income kr 27.7M
• ▍Net margin 2.5%

Revenue kr 581.1M; Operating income kr 51.0M.

• ▍Revenue kr 581.1M
• ▍Operating income kr 51.0M
• ▍Net margin 6.3%

Revenue kr 2.21B, +2,6% YoY; Operating income −12,8% YoY.

• ▍Revenue kr 2.21B, +2,6% YoY
• ▍Operating income −12,8% YoY
• ▍Net income −58,7% YoY
• ▍Free cash flow −31,3% YoY
• ▍Net margin 1.4%

Revenue kr 2.15B, −2,1% YoY; Operating income −23,6% YoY.

• ▍Revenue kr 2.15B, −2,1% YoY
• ▍Operating income −23,6% YoY
• ▍Net income −23,9% YoY
• ▍Free cash flow −16,4% YoY
• ▍Net margin 3.4%

Revenue kr 2.20B, +14,3% YoY; Operating income +81,8% YoY.

• ▍Revenue kr 2.20B, +14,3% YoY
• ▍Operating income +81,8% YoY
• ▍Net income +69,4% YoY
• ▍Free cash flow +66,9% YoY
• ▍Net margin 4.3%

Revenue kr 1.92B, +49,7% YoY; Operating income +526,9% YoY.

• ▍Revenue kr 1.92B, +49,7% YoY
• ▍Operating income +526,9% YoY
• ▍Net income +1 280,2% YoY
• ▍Free cash flow +542,7% YoY
• ▍Net margin 2.9%

Revenue kr 1.28B; Operating income -kr 20.5M.

• ▍Revenue kr 1.28B
• ▍Operating income -kr 20.5M
• ▍Net margin -0.4%