Binero Group AB (publ)

BINERO.ST

Software - Infrastructure · Technology

Price

kr 1.62

-0.02 (-1.22%)

Market Cap

kr 226.2M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is serious

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

Track this stock — start free trial

Share count rising — dilution

+465.0% over 4y

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

Diluted shares outstanding: 21.8M (2021) → 123.3M (2025)

Winston Score History

The full picture

Binero Group is a Swedish technology company that provides cloud infrastructure and web hosting services to businesses. Its core offerings include cloud computing, managed hosting, and domain registration, primarily serving small and medium-sized businesses in Sweden. The company operates its own data centers in Sweden, which allows it to market local data storage as a feature for customers who prefer to keep data within Swedish borders.

Binero makes money by charging customers recurring fees for cloud services, hosting plans, and related IT infrastructure. It operates almost entirely within Sweden, making it a small regional player in a market dominated by global giants like Amazon Web Services, Microsoft Azure, and Google Cloud. Its main competitive angle is local data sovereignty and Swedish customer support, but competing against much larger and better-funded global providers is a significant ongoing risk. Continued growth depends on convincing Swedish businesses to choose a local cloud provider over cheaper or more feature-rich international alternatives.

Growth Profile

For growth stock investors

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

Revenue Growth

+21.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+95.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

23.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 24M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Binero Group AB (publ) is a rare growth stock that's already generating positive cash flow while growing at 21%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

71.9%

Premium pricing power — 71.9% gross margin

Profit after running costs

Operating Margin

1.6%

Thin — 1.6% operating margin

Return on the money invested

ROCE

-11.5%

Weak — -11.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+19.8%

Fast-growing sales (+19.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

4.2%

Thin free cash flow (4.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.92

Moderate — manageable debt (0.92)

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial