Momentum Group came into this Q3 2026 report with a rich 30.6x P/E and a stock that had already slipped over the past month and quarter. Expectations were set high. The company then posted Q3 revenue of SEK806 million and Basic EPS of SEK1.3, numbers that point to earnings holding up rather than cracking.
The share price closed at SEK126.2 on the day of the release, and the 7 day return is down about 2%. That muted reaction sits awkwardly against a business still producing solid profit, which puts the valuation and the firm’s debt load firmly in focus.
Love Momentum Group’s earnings resilience but uneasy about paying a rich 30.6x P/E for it? Set a higher bar by weighing this Q3 print against 221 resilient stocks with low risk scores.
Q3 2026 Earnings Summary
- Revenue (Q3 2026 vs Q3 2025): SEK 806 million vs SEK 746 million (up about 8%)
- Net Income excl. extra items (Q3 2026 vs Q3 2025): SEK 63 million vs SEK 54 million (up about 17%)
- Basic EPS (Q3 2026 vs Q3 2025): SEK 1.30 vs SEK 1.09 (up about 19%)
- Trailing twelve month Net Income excl. extra items (Q3 2026 TTM vs Q3 2025 TTM): SEK 204 million vs SEK 179 million (up about 14%)
Earnings tell part of Momentum Group's story, but investors who care about what they are paying for the business usually dig into the cash that actually comes through the door. When you focus on Momentum Group's cash flows and strip away the accounting noise, the stock could be a notable 25% undervalued.
Momentum Group’s Sustainability Ambition Meets Margin Reality
Momentum Group pitches sustainability as a route to richer mix and better profitability.
"The company's focus on offering sustainable, energy-efficient products and value-added services positions it to benefit from increasing customer and regulatory emphasis on sustainability and green building certifications, likely driving higher-margin revenue streams and margin expansion over the coming years."
Q3 shows earnings holding up, with net income and EPS both higher year on year and trailing twelve month profit also up. That is consistent with some uplift from mix and services. The margin story is still early though. Current profitability remains modest in absolute terms, so any benefit from greener offerings is visible but not yet transformative.
Testing Acquisition Dependence And Cost Pressure Risks
Critics worry that Momentum Group leans too hard on deals and faces creeping cost strain.
"High dependency on acquisitions for growth, evidenced by the majority of revenue and EBITA expansion coming from acquired operations, poses a risk if acquisition opportunities become scarcer, integration becomes challenging, or if acquisition premiums compress margins, potentially impacting future earnings and net margins."
Q3 revenue of SEK 806 million and TTM earnings of SEK 204 million show the business still scaling, yet recent share price performance has trailed off, with the stock down over 13% across 90 days. That gap signals investors questioning how repeatable acquisition driven growth and margin protection really are, even as reported profit remains solid.
That disagreement has a full argument behind it. → Uncover the higher Fair Value this Narrative argues for.
Hunt For Mispriced Momentum Stories
Momentum Group shows how a steady profit line can still sit alongside a cooling share price. The real opportunity sits in spotting companies that could be undervalued before sentiment and pricing catch up.
- Company 1 - 21% below our estimate - use online delivery adoption, dark stores and ad tools to redirect grocery and restaurant budgets into digital baskets.
- Company 2 - 33% below our estimate - target secured borrowers while expanding branches and policy-supported sectors to deepen lending yields and fee income streams.
- Company 3 - 31% below our estimate - shift revenue toward direct retail and online channels while elevating brands and expanding into faster growing apparel adjacencies.
That is three of the list. See the full list of 192 companies trading below our fair value estimates →
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