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Freja eID Group AB (publ) (FREJA.ST)

SEK22.60 -1.80 (-7.38%)
SE STO Technology Software - Infrastructure
Address Travgatan 88 194 30
Stockholm, SE
CEO Johan Henrikson
IPO 2014-12-18
ISIN SE0015950308

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Description

Freja eID Group AB (publ) operates as an IT security specialist, supplying advanced security solutions to banks, government agencies, and businesses across the globe. The company's product portfolio includes Freja eID, a comprehensive ecosystem designed for digital identities. Freja ID is offered to ensure secure access for key individuals, such as management teams. To simplify user onboarding, they provide the Freja Self-Service Portal. Freja Connect serves as an identity provider, enabling the integration of internal authentication systems with external platforms. Furthermore, Freja Mobile delivers both enhanced security and user convenience for login and digital signing processes. Their array of authentication methods comprises various login devices, including one-button, keyboard, card, USB, and mobile tokens, alongside Freja Mobile, SMS, email, code cards, and Google Authenticators. The software Pinelope assists in generating personal identification number (PIN) mailers for the secure distribution of passwords or PINs. Freja eID Group also offers solutions for key management, notably the Chiave Key Management Facility, which supports the common key types utilized by financial institutions and payment processors. The Chiave Registration Authority is tasked with generating cryptographic keys and certificates, while Chiave POS facilitates the customization and management of point-of-sale terminals. Additionally, the company provides versatile general-purpose Hardware Security Modules (HSMs), allowing organizations to integrate hardware-level security into critical applications like public key infrastructures, databases, and web/application servers. Specialized payment HSMs are available to safeguard financial transactions, alongside products for transparent and network encryption. Central to their offerings is the Verisec Platform of Digital Trust, a robust framework furnishing a diverse set of tools for protecting digital identities and data. Beyond its products, Freja eID Group extends a wide range of services, encompassing order fulfillment, programming, distribution and logistics, warehousing, printing and packaging, return handling, warranty management, code administration, and various training courses. Established in 2002, the company was initially known as Verisec AB (publ) before rebranding to Freja eID Group AB (publ) in November 2020. Its main office is situated in Stockholm, Sweden.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
SEK22.60 -1.80 (-7.38%)
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Volume Profile
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Liquidity & share structure
Average Volume
33.3K
Beta
1.09
Float Shares
10.48M
Free Float %
43.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+2.42% +3.68% +3.36% +7.64% +4.32% +8.33% +70.02% +188.40% -34.66% -39.64% +13.93%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
22.60
Ratings Trend (MoM)
Rating 2026-05 Change
Strong Buy 0 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
-0.17
Distress
Piotroski F-Score
4 / 9
Average
MOAT Score
1 / 10
No MOAT
Composite Rating
D+
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
2 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Software - Infrastructure: +13.7%
    +16.4% Q1'26: +23.4% (vs Q1'25)
  • EPS growth Software - Infrastructure: +28.7%
    +42.7% Q1'26: +25.0% (vs Q1'25)
  • FCF margin FCF growth · Software - Infrastructure: +32.2%
    +1.8% Q1'26: +44.6% (vs Q1'25)
  • EBIT margin Software - Infrastructure: +8.8%
    -27.7% Q1'26: -14.3% (vs Q1'25)
  • ROIC Software - Infrastructure: +6.6%
    -78.7% Q1'26: -63.5% (vs Q1'25)
  • Share dilution Software - Infrastructure: +0.0%
    +13.4% Q1'26: +8.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Software - Infrastructure: -1.06×
    8.40× Q1'26: 1.19× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.04) × ERP
WACC = 97% × Ke + 3% × Kd (8.6%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 22.60
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
62.41M
est: 66.00M (-5.4%)
60.10M
est: 62.00M (-3.1%)
61.01M
est: 71.80M (-15.0%)
76.23M
est: 76.00M (+0.3%)
99.74M
est: 103.86M (-4.0%)
21.90M
est: 24.10M (-9.1%)
20.64M
est: 21.83M (-5.5%)
29.42M
est: 29.82M (-1.3%)
36.29M
est: 57.20M (-36.5%)
43.91M
est: 83.37M (-47.3%)
51.09M
est: 52.40M (-2.5%)
63.10M
63.10M – 63.10M
+20.4% YoY
75.50M
75.50M – 75.50M
+19.7% YoY
93.50M
93.50M – 93.50M
+23.8% YoY
115.20M
115.20M – 115.20M
+23.2% YoY
EBITDA
-7.24M
est: -50.19M (+85.6%)
-14.72M
est: -47.15M (+68.8%)
-17.82M
est: -54.60M (+67.4%)
-22.15M
est: -57.79M (+61.7%)
-31.55M
est: -78.98M (+60.1%)
-29.53M
est: -18.32M (-61.1%)
-42.68M
est: -16.60M (-157.0%)
-33.74M
est: -22.67M (-48.8%)
-25.52M
est: -43.50M (+41.3%)
-4.35M
est: 64.90M (-106.7%)
1.29M
est: 40.79M (-96.8%)
49.12M
49.12M – 49.12M
+20.4% YoY
58.77M
58.77M – 58.77M
+19.7% YoY
72.79M
72.79M – 72.79M
+23.8% YoY
89.68M
89.68M – 89.68M
+23.2% YoY
EBIT
-9.66M
est: -56.28M (+82.8%)
-18.10M
est: -52.87M (+65.8%)
-22.56M
est: -61.22M (+63.2%)
-28.98M
est: -64.81M (+55.3%)
-43.42M
est: -88.56M (+51.0%)
-43.14M
est: -20.55M (-110.0%)
-47.01M
est: -18.62M (-152.5%)
-37.98M
est: -25.43M (-49.4%)
-29.70M
est: -48.77M (+39.1%)
-19.53M
est: -59.03M (+66.9%)
-14.13M
est: -37.10M (+61.9%)
-44.68M
-44.68M – -44.68M
-20.4% YoY
-53.46M
-53.46M – -53.46M
-19.7% YoY
-66.20M
-66.20M – -66.20M
-23.8% YoY
-81.57M
-81.57M – -81.57M
-23.2% YoY
Net Income
-8.14M
est: -15.37M (+47.0%)
-18.40M
est: -30.58M (+39.8%)
-22.84M
est: -22.70M (-0.6%)
-29.39M
est: -49.21M (+40.3%)
-24.69M
est: -38.38M (+35.7%)
-45.06M
est: -29.76M (-51.4%)
-52.33M
est: -58.18M (+10.1%)
-38.76M
est: -49.70M (+22.0%)
-31.96M
est: -17.58M (-81.8%)
-23.37M
est: -7.29M (-220.7%)
-15.31M
est: -10.30M (-48.6%)
-5.15M
-5.15M – -5.15M
+50.0% YoY
772.5K
772.5K – 772.5K
+115.0% YoY
7.73M
7.73M – 7.73M
+900.0% YoY
15.45M
15.45M – 15.45M
+100.0% YoY
SGA
21.42M
est: 101.02M (-78.8%)
26.58M
est: 94.90M (-72.0%)
26.39M
est: 109.90M (-76.0%)
30.10M
est: 116.33M (-74.1%)
29.16M
est: 158.96M (-81.7%)
17.31M
est: 36.88M (-53.1%)
61.24M
est: 33.42M (+83.2%)
62.32M
est: 45.64M (+36.5%)
61.06M
est: 87.55M (-30.2%)
4.15M
est: 114.42M (-96.4%)
est: 71.92M (-100.0%)
86.61M
86.61M – 86.61M
+20.4% YoY
103.63M
103.63M – 103.63M
+19.7% YoY
128.33M
128.33M – 128.33M
+23.8% YoY
158.12M
158.12M – 158.12M
+23.2% YoY
EPS
-0.61
est: -0.68 (+9.9%)
-1.50
est: -1.35 (-11.4%)
-1.72
est: -1.00 (-72.1%)
-2.12
est: -2.17 (+2.2%)
-1.69
est: -1.69 (+0.0%)
-3.06
est: -1.31 (-133.5%)
-2.93
est: -2.56 (-14.4%)
-2.05
est: -2.19 (+6.3%)
-1.59
est: -0.77 (-105.4%)
-1.03
est: -0.28 (-264.1%)
-0.59
est: -0.40 (-47.5%)
-0.20
-0.20 – -0.20
+50.0% YoY
0.03
0.03 – 0.03
+115.0% YoY
0.30
0.30 – 0.30
+900.0% YoY
0.60
0.60 – 0.60
+100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-08 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-07 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-06 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-05 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-04 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-04-30 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-1.36M
OE per share TTM
-0.06
Owner's Yield
-0.32%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
17.2%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
-523.4K
Shares Outstanding
24.28M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Johan Henrikson Co-Founder & Chief Executive Officer 2M male
Tony Buss Chief Technology Officer & Director 2M male
Jakub Missuna Co-Founder & Chief Financial Officer 896.4K male
Branko Pavlovic Head Of Development
Kristofer von Beetzen Chief Product Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits