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Systemair (OM:SYSR) Stock Climbs On Margin Gains Despite Cash Flow Strain

Simply Wall St · 2d ago

Systemair stock has been quietly grinding higher, with a 90‑day gain of about 16%, and closed at SEK88 just as the latest earnings landed. The immediate question for you is whether that move already reflects the story or if the results reset the debate. The headline this season is margin power. Net profit margin over the last 12 months reached 6.1% compared with 5.5% a year earlier while earnings grew 11.8% and now sit against a reported P/E of 24x. The rest of this report unpacks what that combination really means for the longer term.

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Q1 2027 Earnings Summary

  • Total Revenue TTM (Q1 2027 vs. Q1 2026): SEK12,502.7m vs. SEK12,283.7m (modest year on year increase)
  • Net Income TTM (Q1 2027 vs. Q1 2026): SEK760.8m vs. SEK663.2m (up around 15%, reflecting stronger profitability for Systemair)
  • Basic EPS TTM (Q1 2027 vs. Q1 2026): SEK3.67 vs. SEK3.19 (up around 15%, earnings per share tracking net income growth)
  • Net Profit Margin TTM (Q1 2027 vs. prior year): 6.1% vs. 5.5% (margin improvement, signaling better earnings quality on each krona of sales)

Prefer clean charts to another wall of earnings tables and ratios? View Systemair’s full financial picture in a single visual, including how its margins, earnings, and cash generation line up in our company report for Systemair.

OM:SYSR Trailing 12-Month Earnings & Revenue History as at Aug 2026
OM:SYSR Trailing 12-Month Earnings & Revenue History as at Aug 2026

Systemair’s results keep the positive thesis intact

For investors leaning positive on Systemair, the latest quarter broadly backs that view. Net sales reached SEK3.28b with 6% organic growth and a modest lift in the group net margin to 6.1%. Earnings per share over the last 12 months rose in line with net income, which supports the idea of a scalable model. Regional growth in North America and Eastern Europe adds weight to the story of diversified demand. The balance sheet looks solid with leverage around 0.65x, even after the Temspec acquisition.

Short term growing pains for the cautious view

There are still some pressure points that line up with a more cautious stance on Systemair. Free cash flow fell to SEK69m as receivables and inventories increased, which shows working capital is absorbing some of the margin progress. Net debt is higher year on year after Temspec, and management is carrying extra safety stock to handle supply issues. Data center orders remain a useful add on rather than a major profit driver. These factors keep execution and cash conversion on the radar.

Reveal where the surface looks calm, but the models start to disagree on Systemair’s next few years, and see where the consensus might quietly be pricing in the next big break in margins and earnings. Access the full multi year road map in the analyst estimates for Systemair.

Stay Ahead With Simply Wall St

If Systemair’s margin progress and recent earnings have you interested, register for free with Simply Wall St and add it to your Watchlist to track share price moves against fair value and watch for a better entry point. Once you own Systemair or other stocks, use the Portfolio Command Center to cut through noise and focus on the updates that really matter for your holdings. For longer term decisions, lean on the Community to see how other investors are thinking about risks, opportunities and turning points. By spotting hidden catalysts and potential risks early, you give yourself a better chance of staying a step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.