Micro Systemation B (MSAB-B.ST) — 2026-W133

Analysis date: 2026-05-31 | Country: SE | Currency: SEK

Recommendation Summary

Field	Value
Rating	Buy
Intrinsic Value	95.0 SEK
24m Target	85.0 SEK
Price at Analysis	75.2 SEK
Buffett Score	16/20
ROIC	60.9%
Economic Profit	+42.0M SEK
Implied Upside (IV)	26.3%

Research history · this company (3 notes)

2026-W133 · 2026-05-31 · MSAB-B.STviewingBuy · ROIC 61% · tgt 85 SEKΔ tgt +13% · IV +27% · HOLD→Buy · MEDIUM→high convMicro Systemation B: Starkt värdeskapande ROIC 60.93% >> WACC 8%

2026-06-15 · 2026-06-15 · MSAB-B.STHOLD · tgt 75 SEK 2026-06-09 · 2026-06-09 · MSAB-B.STHOLD · tgt 75 SEKfirst note

0. Company Identification

Ticker: MSAB-B.ST | Name: Micro Systemation B | Country: SE | Sector: Industrial/Commercial

1. What the Company Sells

Micro Systemation B operates in the Nordic market. ROIC 60.9% vs WACC 8% → EP +42.0M SEK.

2. Who Pays and Why They Stay

Customers pay for products/services based on value proposition and brand strength.

3. Revenue Model

Revenue generated through product/service sales. Scalability and recurring revenue characteristics vary by segment.

4. Margin and Cash Mechanics

ROIC 60.9% vs WACC 8.0% → Economic Profit +42.0M SEK.

5. Supply-side Dependencies

Raw materials, suppliers, distribution channels, and human capital.

6. Competitive Position

Moat strength: 5/5. Brand strength, technology, and customer relationships drive competitive advantage.

7. Growth Engine

Market penetration, geographic expansion, and product development.

8. Business Model Risks

Top risks: Cyclical demand, competitive pressure, raw material costs, macro exposure.

9. History, Management & ESG

Established Nordic industrial company with stable management.

10. Synthesis and Recommendation

Buy — Micro Systemation B: Strong value creation, ROIC 60.9% >> WACC 8%, attractive at current price.

mttssn research · Micro Systemation B (MSAB-B.ST) · 2026-W133 · 2026-05-31