Rankings Tech hardware & optics Net Insight
Net Insight
64
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Margin−8
- Quality of growth−7
- Dependence on large orders−5
Strengths
- Net cash+1
- Cash flow+1
How the score is built
From 100 to 64, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 2.48 SEK
- Median analyst target
- 3.02 SEK
- Upside to median
- +22.0%
- Analysts
- 2
- Target range
- 2.94 – 3.10 SEK
- 52-week change
- −33%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−18 of −30
- −8MarginEBIT margin −3.0% TTM and −28.3% in Q2 2026 (EBIT −SEK 25.9m) vs 13.1–13.6% in 2022–2024; gross margin has fallen from 61% to 51%.
- −7Quality of growthRevenue fell 14% in 2025 and 36% in Q2 2026 (SEK 91.3m); H1 -21%. APAC has fallen from 87 to SEK 30m in two years, and the Americas from 228 to 172m.
- −3Capital allocationCash has fallen from SEK 233m (2024) to 80m; FCF was −127m in 2025 while shares were bought back (approx. 2% of the shares), and capitalized development/capex of 85–103m a year (approx. 18% of revenue) has not delivered growth.
Price
Today's multiples against the company's own history and its peers. · 2 findings−7 of −35
- −3Multiples vs own historyP/S 2.1 and EV/Sales 2.0 vs 2.5–6.7 in 2021–2025, P/B 1.66 vs 2.1–4.0 – low vs the history, but on falling revenue and negative earnings, so P/E and EV/EBITDA cannot be calculated.
- −4Absolute price levelMarket cap approx. SEK 990m with no earnings (earnings yield −1.4%) and negative FCF (−5m TTM); no analyst forecasts to support a recovery.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 2 findings−9 of −35
- −5Dependence on large ordersThe Q2 decline was mainly due to the absence of large media orders; CEO Andreas Eriksson himself writes that the quarter shows the need to reduce dependence on individual large orders.
- −4ExecutionThe strategy of time synchronisation (5G/critical infrastructure) and new Nimbra products has not yet turned revenue around after two years of decline; no financial targets or guidance in the Q2 report.
Plus
Only documented strengths. · 2 findings+2 of +15
- +1Net cashNet cash SEK 45m (debt 35m, leasing only) and total liquidity incl. credit facility of SEK 165m.
- +1Cash flowOperating cash flow +SEK 45.7m in H1 2026 vs −73.2m a year earlier (release of working capital).
Caveats
What the score does not capture, or where the data is weak.
The B share (NETI B). No analyst forecasts on stockanalysis (forecast 404). The industry is set to 'Tech hardware & optics' (Nimbra equipment and time synchronisation) as the nearest. The company's segment split (Media/Time Sync) and gross margin for Q2 could not be retrieved from the PDF report; the reason for the revenue decline is taken from the company's own press releases.
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