Brilliant Future AB

BRILL.ST

Software - Services · Technology

Price

kr 3.74

+0.12 (+3.31%)

Market Cap

kr 51.6M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+86.6% over 4y

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

Diluted shares outstanding: 7.4M (2021) → 13.8M (2025)

Brilliant Future AB is a Swedish consulting firm that helps companies improve how they work by offering services in IT, management consulting, and digital transformation. Its main customers are mid-sized and large businesses across industries like retail, finance, and the public sector. The company operates primarily in Sweden and the broader Nordic region.

The company earns money by billing clients for consulting hours and project-based work, which is a common model in professional services. With a market cap of around $0.1 billion, it is a small player in a crowded Nordic consulting market where larger firms like Accenture and local competitors have strong footholds. The company is currently unprofitable, with a negative operating margin and a deeply negative return on invested capital, meaning its key challenge is improving efficiency and winning enough client contracts to cover its costs and grow sustainably.

Winston Score History

Growth Profile

For growth stock investors

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

Revenue Growth

-0.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-277.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

55.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$14M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Brilliant Future AB's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

-6.8%

Thin — -6.8% gross margin

Operating Margin

-6.8%

Losing money on operations — -6.8%

ROCE

-5.9%

Weak — -5.9% return on capital

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

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Growth

Sales YoY

-0.1%

Shrinking sales (-0.1% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

6.9%

Modest free cash flow (6.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

Data not available

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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