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4C Group AB

4C.ST
17
Specialty Business Services · Industrials
Price
kr 8.30
+0.25 (+3.11%)
Market Cap
kr 332.5M
Exchange
Stockholm Stock Exchange
Winston Score
17
Winston is worried
Weak fundamentals across most pillars.

Share count rising — dilution

+14.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 33.4M (2021) → 38.2M (2025)

4C Group AB is a Swedish technology company that helps other businesses manage and run their IT systems. It provides IT infrastructure services, consulting, and software solutions, mainly to mid-sized and large companies in the Nordic region. The company acts as a middleman between businesses and the technology they need to operate.

4C Group makes money by charging clients for IT services, project work, and ongoing support contracts. It operates primarily in Sweden and the broader Nordic market, with a market cap of around $0.3 billion, making it a small player in a competitive industry. The company's very low gross margin of about 4% suggests it resells hardware or third-party software at thin margins, which limits profitability and leaves little room for error. The main risk is that low margins and a negative operating margin mean the business is currently spending more than it earns, and it will need to shift toward higher-margin software or managed services to reach sustainable profitability.

Winston Score History

Growth Profile

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

Revenue Growth

-34.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-88.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

48.7%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~0 months

$434,000 cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

4C Group AB has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Score breakdown

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Quality

Gross Margin
-32.7%
Thin — -32.7% gross margin
Operating Margin
-32.7%
Losing money on operations — -32.7%
ROCE
-5.0%
Weak — -5.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
-10.4%
Shrinking sales (-10.4% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-20.4%
Burning cash (-20.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.56
Conservative — low debt load (0.56)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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