MIPS Stock Analysis: MIPS | ST
Leisure | ST, Sweden | Market Cap: 11.020m SEK | 12M Return: 25.2% | SE0009216278 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 35.7M
EPS Trend: 88.7%
Qual. Beats: 2
Rev. Trend: 96.0%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 9.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mips AB (publ) is a Swedish company that develops, manufactures, and sells helmet-based safety systems across global markets, including North America, Europe, Asia, and Australia. Founded in 1996 and headquartered in Täby, Sweden, the company operates three main product segments: sport helmets (covering cycling, snow, equestrian, and team sports), moto helmets (for on-road and off-road use), and safety helmets for industrial, military, and rescue applications. The companys core innovation centers on its Multi-directional Impact Protection System (MIPS) technology, which is licensed to partners and integrated into helmets designed to reduce rotational forces transmitted to the brain during angled impacts. Listed on the Stockholm Stock Exchange under the ticker MIPS, the company is classified within the Consumer Discretionary sector under Leisure Products, reflecting its primary exposure to recreational and sporting goods end markets alongside its industrial safety business.
- Helmet safety regulations tighten across cycling and snow sports markets
- Bike helmet segment drives revenue growth in North America and Europe
- Acquisition bid from major helmet manufacturer creates capital allocation catalyst
| Net Income: 166.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -15.00 > 1.0 |
| NWC/Revenue: 44.96% < 20% (prev 69.05%; Δ -24.09% < -1%) |
| CFO/TA 0.13 > 3% & CFO 173.0m > Net Income 166.0m |
| Net Debt (164.0m) to EBITDA (246.0m): 0.67 < 3 |
| Current Ratio: 2.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (26.5m) vs 12m ago -0.01% < -2% |
| Gross Margin: 73.08% > 18% (prev 73.11%; Δ -0.03% > 0.5%) |
| Asset Turnover: 67.96% > 50% (prev 87.04%; Δ -19.08% > 0%) |
| Interest Coverage Ratio: 227.0 > 6 (EBIT TTM 227.0m / Interest Expense TTM 1.00m) |
| A: 0.22 (Total Current Assets 477.0m - Total Current Liabilities 178.0m) / Total Assets 1.36b |
| B: 0.17 (Retained Earnings 228.0m / Total Assets 1.36b) |
| C: 0.23 (EBIT TTM 227.0m / Avg Total Assets 978.5m) |
| D: 0.84 (Book Value of Equity 622.0m / Total Liabilities 741.0m) |
| Altman-Z'' = 4.42 = AA |
| DSRI: 1.09 (Receivables 268.0m/192.0m, Revenue 665.0m/517.0m) |
| GMI: 1.00 (GM 73.11% / 73.08%) |
| AQI: 2.83 (AQ_t 0.61 / AQ_t-1 0.22) |
| SGI: 1.29 (Revenue 665.0m / 517.0m) |
| TATA: -0.01 (NI 166.0m - CFO 173.0m) / TA 1.36b) |
| Beneish M = -1.67 (Cap -4..+1) = CCC |
As of October 17, 2026, the stock is trading at SEK 416.80 with a total of 189,016 shares traded. Over the past week, the price has changed by +2.76%, over one month by +10.85%, over three months by +16.36% and over the past year by +25.20%.
Current recommended Stop Loss: 382.30 (which is 8.3% or 2.8 ATR below the current price).
MIPS has no consensus analysts rating.
P/E Trailing = 66.4537
P/E Forward = 29.2398
P/S = 16.5968
P/B = 16.1033
Revenue TTM = 665.0m SEK
EBIT TTM = 227.0m SEK
EBITDA TTM = 246.0m SEK
Long Term Debt = 259.0m SEK (from longTermDebt, last quarter)
Short Term Debt = 57.0m SEK (from shortTermDebt, last quarter)
Debt = 351.0m SEK (from shortLongTermDebtTotal, last quarter) + Leases 20.0m
Net Debt = 164.0m SEK (calculated: Debt 351.0m - CCE 187.0m)
Enterprise Value = 11.2b SEK (11.0b + Debt 351.0m - CCE 187.0m)
Interest Coverage Ratio = 227.0 (Ebit TTM 227.0m / Interest Expense TTM 1.00m)
EV/FCF = 67.78x (Enterprise Value 11.2b / FCF TTM 165.0m)
FCF Yield = 1.48% (FCF TTM 165.0m / Enterprise Value 11.2b)
FCF Margin = 24.81% (FCF TTM 165.0m / Revenue TTM 665.0m)
Net Margin = 24.96% (Net Income TTM 166.0m / Revenue TTM 665.0m)
Gross Margin = 73.08% ((Revenue TTM 665.0m - Cost of Revenue TTM 179.0m) / Revenue TTM)
Gross Margin QoQ = 74.14% (prev 70.86%)
Tobins Q-Ratio = 8.21 (Enterprise Value 11.2b / Total Assets 1.36b)
Interest Expense / Debt = 0.28% (Interest Expense 1.00m / Debt 351.0m)
Taxrate = 23.15% (50.0m / 216.0m)
NOPAT = 174.5m (EBIT 227.0m * (1 - 23.15%))
Current Ratio = 2.68 (Total Current Assets 477.0m / Total Current Liabilities 178.0m)
Debt / Equity = 0.56 (Debt 351.0m / totalStockholderEquity, last quarter 622.0m)
Debt / EBITDA = 0.67 (Net Debt 164.0m / EBITDA 246.0m)
Debt / FCF = 0.99 (Net Debt 164.0m / FCF TTM 165.0m)
Total Stockholder Equity = 581.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 16.96% (Net Income 166.0m / Total Assets 1.36b)
RoE = 28.57% (Net Income TTM 166.0m / Total Stockholder Equity 581.0m)
RoCE = 27.02% (EBIT 227.0m / Capital Employed (Equity 581.0m + L.T.Debt 259.0m))
RoIC = 14.43% (NOPAT 174.5m / Invested Capital 1.21b)
WACC = 6.98% (E(11.0b)/V(11.4b) * Re(7.20%) + D(351.0m)/V(11.4b) * Rd(0.28%) * (1-Tc(0.23)))
Discount Rate = 7.20% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -34.82 | Cagr: 0.0%
[DCF] Terminal Value 75.76% ; FCFF base≈163.4m ; Y1≈167.5m ; Y5≈184.8m
[DCF] Fair Price = 101.8 (EV 2.86b - Net Debt 164.0m = Equity 2.70b / Shares 26.5m; r=8.35% [WACC [floored]]; 5y FCF grow 2.48% → 2.50% )
EPS Correlation: 88.74 | EPS CAGR: 44.79% | SUE: 0.98 | # QB: 2
Revenue Correlation: 95.96 | Revenue CAGR: 24.41% | SUE: 2.13 | # QB: 1
EPS current Quarter (2026-09-30): EPS=2.07 | Chg30d=-2.68% | Revisions=-17% | Analysts=3
EPS current Year (2026-12-31): EPS=9.94 | Chg30d=-1.15% | Revisions=-29% | GrowthEPS=+112.8% | GrowthRev=+56.9%
EPS next Year (2027-12-31): EPS=13.81 | Chg30d=-1.43% | Revisions=+0% | GrowthEPS=+39.0% | GrowthRev=+28.5%
[Analyst] Revisions Ratio: -21% (up=4, down=7)