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4C Group AB

4C.ST
28
Software - Application · Technology
Price
kr 7.64
+0.05 (+0.66%)
Market Cap
kr 306.1M
Exchange
Stockholm Stock Exchange
Winston Score
28
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available

Share count rising — dilution

+14.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 33.4M (2021) → 38.2M (2025)

Winston Score History

The full picture

4C Group AB is a Swedish technology company that helps other businesses manage and run their IT systems. It provides IT infrastructure services, consulting, and software solutions, mainly to mid-sized and large companies in the Nordic region. The company acts as a middleman between businesses and the technology they need to operate.

4C Group makes money by charging clients for IT services, project work, and ongoing support contracts. It operates primarily in Sweden and the broader Nordic market, with a market cap of around $0.3 billion, making it a small player in a competitive industry. The company's very low gross margin of about 4% suggests it resells hardware or third-party software at thin margins, which limits profitability and leaves little room for error. The main risk is that low margins and a negative operating margin mean the business is currently spending more than it earns, and it will need to shift toward higher-margin software or managed services to reach sustainable profitability.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+25.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+258.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

51.0%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

kr 157M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

4C Group AB grew revenue 25% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
12.9%
Thin — 12.9% gross margin
Profit after running costs
Operating Margin
12.9%
Healthy — 12.9% operating margin
Return on the money invested
ROCE
1.3%
Weak — 1.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-8.9%
Shrinking sales (-8.9% YoY)
Profit growth
EPS YoY
-109.6%
Earnings shrinking (-109.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-6.4%
Burning cash (-6.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.57
Conservative — low debt load (0.57)
Covers its interest
Interest Cover
0.17x
Dangerous — barely covers interest (0.2x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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