S 
Stillfront Group AB (publ) SF.ST · SEK
Communication Services · Nasdaq Stockholm · 🇸🇪 Sweden
6.29
+3.97%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 5.71bn
FY2016FY2025
Net income
−SEK 2.40bn
FY2016FY2025
Free cash flow
SEK 1.46bn
FY2016FY2025
Shareholders' equity
SEK 3.99bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.71bn | SEK 6.74bn | SEK 7.01bn | SEK 7.06bn | SEK 5.46bn | SEK 3.99bn | SEK 1.97bn | SEK 1.32bn | SEK 166.0m | SEK 94.8m |
| Research and development | SEK 759.0m | SEK 881.0m | SEK 686.0m | SEK 645.0m | SEK 260.0m | SEK 268.0m | SEK 165.0m | SEK 83.0m | SEK 75.0m | — |
| Operating income | SEK 643.0m | SEK 514.0m | SEK 754.0m | SEK 992.0m | SEK 1.28bn | SEK 993.0m | SEK 517.0m | SEK 348.0m | SEK 115.0m | SEK 24.7m |
| Net income | −SEK 2.40bn | −SEK 7.38bn | SEK 7.0m | SEK 559.0m | SEK 590.0m | SEK 580.0m | SEK 338.0m | SEK 156.0m | SEK 89.1m | SEK 15.4m |
| Diluted earnings per share | -4.71 | -14.60 | 0.01 | 1.09 | 1.43 | 1.51 | 1.14 | 0.59 | 0.40 | 0.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 11.02bn | SEK 16.37bn | SEK 22.61bn | SEK 24.13bn | SEK 20.05bn | SEK 12.37bn | SEK 4.05bn | SEK 2.60bn | SEK 513.3m | SEK 322.5m |
| Cash and short-term investments | SEK 701.0m | SEK 957.0m | SEK 807.0m | SEK 989.0m | SEK 1.13bn | SEK 1.00bn | SEK 342.0m | SEK 246.0m | SEK 65.9m | SEK 35.8m |
| Total liabilities | SEK 7.04bn | SEK 8.89bn | SEK 8.76bn | SEK 9.88bn | SEK 10.25bn | SEK 6.22bn | SEK 2.09bn | SEK 1.50bn | SEK 245.2m | SEK 168.5m |
| Debt | SEK 4.47bn | SEK 5.00bn | SEK 4.94bn | SEK 4.83bn | SEK 4.64bn | SEK 2.90bn | SEK 1.16bn | SEK 767.0m | — | — |
| Shareholders' equity | SEK 3.99bn | SEK 7.48bn | SEK 13.84bn | SEK 14.24bn | SEK 9.77bn | SEK 6.13bn | SEK 1.94bn | SEK 1.08bn | SEK 248.2m | SEK 134.3m |
| Shares outstanding | 509m | 505m | 518m | 513m | 412m | 384m | 296m | 264m | 223m | 68m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.47bn | SEK 1.69bn | SEK 1.69bn | SEK 2.03bn | SEK 1.62bn | SEK 1.25bn | SEK 484.0m | SEK 210.0m | SEK 22.8m | SEK 30.0m |
| Capital spending | −SEK 13.0m | −SEK 619.0m | −SEK 833.0m | −SEK 1.06bn | −SEK 859.0m | −SEK 463.0m | −SEK 255.0m | −SEK 164.0m | −SEK 54.7m | −SEK 31.7m |
| Free cash flow | SEK 1.46bn | SEK 1.07bn | SEK 857.0m | SEK 971.0m | SEK 761.0m | SEK 788.0m | SEK 229.0m | SEK 46.0m | −SEK 31.9m | −SEK 1.7m |
| Dividends paid | — | — | — | — | — | −SEK 1.71bn | −SEK 2.0m | −SEK 473.0m | −SEK 120.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.33bn | SEK 1.34bn | SEK 1.34bn | SEK 1.37bn | SEK 1.44bn | SEK 1.55bn | SEK 1.66bn | SEK 1.60bn |
| Operating income | SEK 266.0m | SEK 209.0m | SEK 190.0m | SEK 188.0m | SEK 128.0m | SEK 129.0m | −SEK 7.22bn | SEK 138.0m |
| Net income | SEK 212.0m | SEK 117.0m | −SEK 2.40bn | SEK 55.0m | −SEK 72.0m | SEK 23.0m | −SEK 7.27bn | SEK 16.0m |
| Diluted earnings per share | 0.44 | 0.24 | -4.72 | 0.11 | -0.14 | 0.05 | -14.38 | 0.03 |
| Cash from operations | SEK 644.0m | SEK 167.0m | SEK 439.0m | SEK 310.0m | SEK 383.0m | SEK 337.0m | SEK 491.0m | SEK 457.0m |
| Capital spending | −SEK 121.0m | −SEK 118.0m | −SEK 5.0m | −SEK 2.0m | −SEK 122.0m | −SEK 135.0m | −SEK 141.0m | −SEK 162.0m |
| Free cash flow | SEK 523.0m | SEK 49.0m | SEK 434.0m | SEK 308.0m | SEK 261.0m | SEK 202.0m | SEK 350.0m | SEK 295.0m |
| Total assets | SEK 11.42bn | SEK 11.16bn | SEK 11.02bn | SEK 13.84bn | SEK 14.31bn | SEK 14.95bn | SEK 16.37bn | SEK 22.09bn |
| Cash and short-term investments | SEK 907.0m | SEK 646.0m | SEK 701.0m | SEK 773.0m | SEK 912.0m | SEK 934.0m | SEK 957.0m | SEK 857.0m |
| Debt | — | SEK 4.45bn | SEK 4.47bn | SEK 4.74bn | SEK 5.09bn | SEK 4.69bn | SEK 5.86bn | SEK 5.03bn |
| Shareholders' equity | SEK 4.65bn | SEK 4.12bn | SEK 3.99bn | SEK 6.65bn | SEK 6.61bn | SEK 6.83bn | SEK 7.48bn | SEK 13.75bn |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -36.3% | -102.4% | 8.3% | 15.7% | 17.5% | 24.2% |
| Net margin | -42.0% | -109.5% | 0.1% | 7.9% | 10.8% | 14.5% |
| Return on equity | -60.1% | -98.6% | 0.1% | 3.9% | 6.0% | 9.5% |
| Return on assets | -21.8% | -45.1% | 0.0% | 2.3% | 2.9% | 4.7% |
| Free cash flow yield | 50.2% | 78.7% | 84.0% | 103.6% | 103.8% | 77.0% |
| Revenue growth | -15.2% | -3.9% | -0.7% | 29.4% | 36.7% | 102.9% |
| Earnings growth | -67.5% | -105500.0% | -98.7% | -5.3% | 1.7% | 71.6% |
| Current ratio | 0.95x | 0.95x | 1.12x | 0.85x | 0.65x | 1.07x |
| Debt to equity | 1.13x | 0.77x | 0.35x | 0.33x | 0.57x | 0.59x |
| Equity ratio | 36.2% | 45.7% | 61.2% | 59.0% | 48.7% | 49.6% |
| Interest coverage | -5.76x | -15.16x | 1.35x | 4.60x | 3.86x | 5.81x |
| R&D as a share of sales | 13.3% | 13.1% | 9.8% | 9.1% | 4.8% | 6.7% |
| Buybacks as a share of market value | -0.7% | 2.4% | -0.9% | -24.6% | -7.3% | -29.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.8% | 7.4% | 58.5% |
| Operating income | -13.5% | -8.3% | — |
| Net income | — | — | 78.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.3% | 10.9% | 14.4% | 15.6% |
| Net margin | -78.5% | -34.7% | -22.4% | -18.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.4 | -0.6 | — | 16.1 | 30.0 | 58.8 | 28.6 | 19.8 | 42.5 | 31.0 |
| Price to sales | 0.6 | 0.6 | 0.9 | 1.3 | 3.2 | 8.6 | 4.9 | 2.3 | 22.8 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-for-1 split · 23 Dec 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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