NCAB Group AB

NCAB Group AB

76.80
SEK
-5.70
(-6.91%)
1.35EPS
62.24P/E
15.68BMarket Cap
Oct 23Next Earn
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
7.12
7.23
9.29
10.01
10.57
11.63
17.22
23.85
21.87
19.33
20.02
21.81
Basic EPS, GAAP
0.32
0.39
0.27
0.65
0.76
0.7
1.52
2.23
2.16
1.36
1.1
1.35
Free Cash Flow per Basic Share
0.22
0.45
0.22
0.42
0.87
1.06
0.23
2.81
3.46
1.87
1.5
1.54
Dividend per Share
0.59
- -
0.6
0.02
0.45
- -
1.5
0.6
1.1
1.1
- -
1.1
Book Value per Share
0.48
0.95
0.63
1.76
2.07
3.74
4.14
6.4
7.14
7.74
7.7
7.99
Tangible Book Value per Share
-0.39
0.08
-0.19
0.95
0.74
1.49
-1.62
-0.18
-1.4
-2.15
-2.25
-3.47
Basic Weighted Avg Shares
168
168
151
162
168
182
187
187
187
187
187
187
Sales/Revenue/Turnover
1,200
1,219
1,400
1,617
1,781
2,115
3,220
4,458
4,088
3,614
3,743
4,077
Operating Margin (%)
5.85
7.43
5.65
8.26
9
9.68
12.34
12.99
13.97
10.64
8.89
9.67
Depreciation Expense
8
9
9
9
18
28
41
77
99
114
120
118
Net Income, GAAP
55
65
40
104
128
127
285
417
404
255
206
252
Effective Tax Rate (%)
18.47
21.13
32.68
10.62
20.18
21.75
21.66
24.18
24.31
25.07
24.74
24.19
Profit Margin (%)
4.56
5.33
2.88
6.46
7.2
6.02
8.85
9.35
9.88
7.05
5.5
6.18
Working Capital
34
84
-36
231
179
564
359
799
667
605
677
715
LT Debt
107
78
- -
85
98
316
669
891
971
1,039
1,125
1,279
Total Equity
81
160
106
297
348
700
774
1,196
1,335
1,448
1,439
1,495
Return on Invested Capital (%)
- -
26.73
15.58
33.52
28.48
18.11
21.89
21.24
19.18
11.48
9.78
11.19
Return on Capital (%)
- -
24.55
15.61
32.23
30.05
17.57
23.16
23.14
19.86
12.26
9.39
9.61
Return on Common Equity (%)
- -
54.05
30.33
51.89
39.82
24.32
38.68
42.35
31.91
18.3
14.27
17.65

Capital Structure

SEK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
33
33
32
LT Borrowings
1,090
1,091
1,242
LT Finance Leases
34
36
37
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
187
187
187
Market Capitalization
8,890
10,391
15,678

Working Capital

SEK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,549
1,757
1,915
Cash, Cash Equivalents & STI
334
397
344
Accounts Receivable, Net
786
948
1,086
Inventories
330
296
362
Total Current Liabilities
873
962
1,200
Payables & Accruals
- -
- -
- -
ST Debt
33
33
32
Deferred Revenue
- -
- -
- -

Growth Rates

SEK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
44.52%
16.92%
-0.6%
Free Cash Flow
128.75%
197.41%
-19.67%
Net Income, GAAP
27.3%
22.17%
-19.1%
Sales/Revenue/Turnover
13.52%
14.87%
3.58%
Total Cash Common Dividend
- -
- -
-99.95%

Quarterly Revenue

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
951
935
898
830
3,614
2025
958
934
- -
902
3,743
2026
1,074
1,168
- -
- -
- -

Quarterly Earnings Per Share

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.48
0.39
0.27
0.22
1.36
2025
0.28
0.22
- -
0.28
1.1
2026
0.4
0.45
- -
- -
- -

Quarterly Dividends Per Share

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
1.1
- -
- -
1.1
2025
- -
- -
- -
- -
- -
2026
- -
1.1
- -
- -
- -

Company Description

CEO
Peter Kruk
Full Time Employees
661
Sector
Electronic technology
Industry
Electronic components
Address
Löfströms allé 5 Sundbyberg AB Sweden 172 66
IPO Date
Jun 5, 2018
Business
NCAB Group AB (publ) is a Sweden-based supplier of printed circuit boards (PCBs) that provides full-service solutions from design support and engineering to production and logistics for demanding customers worldwide. Founded in 1993 and headquartered in Sundbyberg, Sweden, the company operates through 19 local entities across Europe, Asia, and North America, serving approximately 45 markets with a network of 36 partner factories and 651 specialists producing 235 million PCBs annually. It offers a comprehensive PCB portfolio encompassing multilayer boards; flexible, rigid-flex, and semi-flex boards; insulated metal substrate (IMS) boards; radio frequency (RF) boards; high-density interconnect (HDI) boards; and double-sided boards, targeting OEM, ODM, and EMS customers in industries including aerospace, automotive, datacom, defense, industrial, medical, power/energy, railway, safety-critical applications, and telecom. The company emphasizes resilient supply chains, on-time delivery with zero defects, sustainability, and lowest total cost through close collaboration with customers and factories, primarily located in China and other Asian regions. Recent strategic expansions include the acquisition of Multi-Teknik Mönsterkort AB in November 2025 for SEK 141 million, adding offices in Gothenburg, Lithuania, and China with SEK 110 million in fiscal 2024/25 net sales, expected to enhance earnings in 2026 via synergies in suppliers, payments, and logistics; and the June 2025 completion of the B&B Leiterplattenservice GmbH purchase in Germany for SEK 135 million plus up to SEK 28 million earnout, bolstering its German market position and accretive to 2025 earnings. In 2024, NCAB Group reported revenue of USD 342 million while maintaining focus on high-mix, low-volume production and technological leadership in complex PCB solutions.