SECT-B Stock Analysis: Sectra (publ) | ST
Medical Devices | ST, Sweden | Market Cap: 55.758m SEK | 12M Return: -6.2% | SE0022419784 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 60.5M
EPS Trend: 78.9%
Qual. Beats: 0
Rev. Trend: 97.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Sectra AB (publ) is a Swedish technology company founded in 1957 and headquartered in Linköping. It operates across two main sectors-medical imaging IT and secure communications-with customers primarily consisting of hospitals, private clinic chains, and security-sensitive public-sector organizations in Sweden, the UK, the Netherlands, and elsewhere in Europe.
The company runs three business segments. Imaging IT Solutions provides medical imaging management systems, including PACS (picture archiving and communication systems) used by healthcare providers to store, view, and share diagnostic images such as X-rays, MRIs, and CT scans. Secure Communications offers encrypted voice and data communication products, often serving defense, government, and critical infrastructure clients. Business Innovation develops niche medical IT products, including orthopedic surgery planning tools, medical education platforms, and IT support for precision cancer diagnostics.
Listed on Nasdaq Stockholm under the ticker SECT-B, Sectra is a mid-cap company competing in the European medical imaging IT market alongside larger international healthcare technology vendors. The revenue model combines upfront system sales with recurring maintenance, support, and managed-service contracts tied to long-term relationships with hospital customers, providing a degree of revenue visibility uncommon in pure hardware businesses.
- Imaging IT recurring revenue and order intake expand across European hospitals
- Secure Communications secures new European defense and public safety contracts
- Subscription mix shift lifts operating margins and strengthens earnings visibility
| Net Income: 619.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA -7.70 > 1.0 |
| NWC/Revenue: 40.35% < 20% (prev 40.70%; Δ -0.35% < -1%) |
| CFO/TA 0.22 > 3% & CFO 981.9m > Net Income 619.0m |
| Net Debt (-1.62b) to EBITDA (833.7m): -1.95 < 3 |
| Current Ratio: 1.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (182.0m) vs 12m ago -5.52% < -2% |
| Gross Margin: 24.72% > 18% (prev 89.05%; Δ -64.32% > 0.5%) |
| Asset Turnover: 90.62% > 50% (prev 87.33%; Δ 3.28% > 0%) |
| Interest Coverage Ratio: 100.9 > 6 (EBIT TTM 758.2m / Interest Expense TTM 7.52m) |
| A: 0.34 (Total Current Assets 3.51b - Total Current Liabilities 2.00b) / Total Assets 4.49b |
| B: 0.40 (Retained Earnings 1.81b / Total Assets 4.49b) |
| C: 0.18 (EBIT TTM 758.2m / Avg Total Assets 4.13b) |
| D: 1.07 (Book Value of Equity 2.32b / Total Liabilities 2.17b) |
| Altman-Z'' = 5.87 = AAA |
| DSRI: 3.0 (Receivables 1.46b/419.7m, Revenue 3.74b/3.28b) |
| GMI: 3.60 (GM 89.05% / 24.72%) |
| AQI: 0.84 (AQ_t 0.12 / AQ_t-1 0.15) |
| SGI: 1.14 (Revenue 3.74b / 3.28b) |
| TATA: -0.08 (NI 619.0m - CFO 981.9m) / TA 4.49b) |
| Beneish M = 0.97 (Cap -4..+1) = D |
As of September 27, 2026, the stock is trading at SEK 285.20 with a total of 89,008 shares traded. Over the past week, the price has changed by -1.45%, over one month by +4.08%, over three months by +3.93% and over the past year by -6.18%.
Current recommended Stop Loss: 262.10 (which is 8.1% or 2.2 ATR below the current price).
Sectra (publ) has no consensus analysts rating.
P/E Trailing = 90.1558
P/E Forward = 71.4286
P/S = 14.8923
P/B = 24.0167
Revenue TTM = 3.74b SEK
EBIT TTM = 758.2m SEK
EBITDA TTM = 833.7m SEK
Long Term Debt = 95.9m SEK (estimated: total debt 127.6m - short term 31.8m)
Short Term Debt = 31.8m SEK (from shortTermDebt, last quarter)
Debt = 127.6m SEK (from shortLongTermDebtTotal, last quarter) (leases 127.6m already included)
Net Debt = -1.62b SEK (calculated: Debt 127.6m - CCE 1.75b)
Enterprise Value = 54.1b SEK (55.8b + Debt 127.6m - CCE 1.75b)
Interest Coverage Ratio = 100.9 (Ebit TTM 758.2m / Interest Expense TTM 7.52m)
EV/FCF = 63.77x (Enterprise Value 54.1b / FCF TTM 848.9m)
FCF Yield = 1.57% (FCF TTM 848.9m / Enterprise Value 54.1b)
FCF Margin = 22.70% (FCF TTM 848.9m / Revenue TTM 3.74b)
Net Margin = 16.56% (Net Income TTM 619.0m / Revenue TTM 3.74b)
Gross Margin = 24.72% ((Revenue TTM 3.74b - Cost of Revenue TTM 2.81b) / Revenue TTM)
Gross Margin QoQ = 34.78% (prev 20.50%)
Tobins Q-Ratio = 12.05 (Enterprise Value 54.1b / Total Assets 4.49b)
Interest Expense / Debt = 5.89% (Interest Expense 7.52m / Debt 127.6m)
Taxrate = 22.44% (179.0m / 797.9m)
NOPAT = 588.1m (EBIT 758.2m * (1 - 22.44%))
Current Ratio = 1.75 (Total Current Assets 3.51b / Total Current Liabilities 2.00b)
Debt / Equity = 0.05 (Debt 127.6m / totalStockholderEquity, last quarter 2.32b)
Debt / EBITDA = -1.95 (Net Debt -1.62b / EBITDA 833.7m)
Debt / FCF = -1.91 (Net Debt -1.62b / FCF TTM 848.9m)
Total Stockholder Equity = 2.05b (last 4 quarters mean from totalStockholderEquity)
RoA = 15.00% (Net Income 619.0m / Total Assets 4.49b)
RoE = 30.26% (Net Income TTM 619.0m / Total Stockholder Equity 2.05b)
RoCE = 35.41% (EBIT 758.2m / Capital Employed (Equity 2.05b + L.T.Debt 95.9m))
RoIC = 25.14% (NOPAT 588.1m / Invested Capital 2.34b)
WACC = 6.54% (E(55.8b)/V(55.9b) * Re(6.54%) + D(127.6m)/V(55.9b) * Rd(5.89%) * (1-Tc(0.22)))
Discount Rate = 6.54% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -52.22 | Cagr: -2.49%
[DCF] Terminal Value 73.10% ; FCFF base≈909.0m ; Y1≈797.1m ; Y5≈644.0m
[DCF] Fair Price = 66.62 (EV 10.3b - Net Debt -1.62b = Equity 12.0b / Shares 179.6m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 78.86 | EPS CAGR: 16.68% | SUE: 0.36 | # QB: 0
Revenue Correlation: 97.71 | Revenue CAGR: 11.00% | SUE: 0.14 | # QB: 0
EPS current Quarter (2026-10-31): EPS=0.85 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS next Quarter (2027-01-31): EPS=0.91 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2027-04-30): EPS=3.83 | Chg30d=+5.23% | Revisions=-25% | GrowthEPS=+30.6% | GrowthRev=+17.6%
EPS next Year (2028-04-30): EPS=4.95 | Chg30d=+3.23% | Revisions=+40% | GrowthEPS=+29.4% | GrowthRev=+16.2%
[Analyst] Revisions Ratio: +17% (up=2, down=1)