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Lime Technologies AB (publ)

LIME.ST
73
Software - Application · Technology
Price
kr 248.50
+2.50 (+1.02%)
Market Cap
kr 3.30B
Exchange
Stockholm Stock Exchange
Winston Score
73
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Exceptional
Cash Flow
Exceptional
Stability
Strong
Valuation
Strong
Dividends
Weak

Winston Score History

The full picture

Lime Technologies is a Swedish software company that builds customer relationship management (CRM) tools — software that helps businesses keep track of their customers, sales, and deals. Its main products are sold under the Lime CRM brand, and its customers are small and medium-sized businesses across industries like real estate, construction, and professional services. The company is headquartered in Lund, Sweden, and is one of the leading CRM providers in the Nordic region.

Lime makes money by selling software licenses and recurring subscriptions, which means customers pay regularly to keep using the platform — a model that creates steady, predictable revenue. It operates primarily in Sweden, Finland, Norway, Denmark, and the Netherlands, with most of its revenue coming from the Nordics. Its main competitive advantage is deep local knowledge and strong customer support tailored to Nordic businesses, but its relatively small geographic footprint means growth depends heavily on expanding into new European markets or adding new product features to retain existing customers.

Growth Profile

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

Revenue Growth

+12.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+21.3% YoY

YoY Growth Rate

Steady EPS growth

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

20.7%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 67M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Lime Technologies AB (publ) is a rare growth stock that's already generating positive cash flow while growing at 12%. 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.

Share count broadly stable

+0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 13.3M (2021) → 13.4M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
24.9%
Thin — 24.9% gross margin
Profit after running costs
Operating Margin
21.3%
Excellent — 21.3% operating margin
Return on the money invested
ROCE
30.6%
Exceptional — 30.6% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+9.4%
Steady sales growth (+9.4% YoY)
Profit growth
EPS YoY
+19.6%
Earnings growing fast (+19.6% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
161%
Turns 161% of profit into real cash
Spare cash per sale
FCF Margin
20.3%
Converts sales into free cash efficiently (20.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.41
Conservative — low debt load (0.41)
Covers its interest
Interest Cover
13.31x
Comfortably covers interest (13.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
27.7x
Growth-priced — P/E 27.7

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+9.8
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (27.7 → 17.9)

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Dividends

Dividend
Dividend Yield
1.91%
Small dividend — 1.91% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-4.5%
Dividend cut (-4.5% YoY) — warning sign

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