Momentum Group (OM:MMGR B) Stock Faces Lofty 36x P/E As Earnings Growth Narrative Tested
Momentum Group (OM:MMGR B) has posted its Q2 2026 results with revenue of 887 million SEK and Basic EPS of 1.3 SEK, supported by trailing twelve month EPS of 3.951095 SEK on revenue of 3.163 billion SEK and net income of 195 million SEK. Over recent quarters, the company has seen revenue move from 824 million SEK in Q2 2025 to 887 million SEK in Q2 2026. Quarterly Basic EPS has ranged from 0.75 SEK to 1.09 SEK across 2025 before reaching 1.3 SEK in the latest period. This progression contributes to a margin picture that aligns with the recent change in net profit margin from 5.9% to 6.2% over the past year.
See our full analysis for Momentum Group.With the Q2 scorecard in hand, the next step is to compare these results to the main narratives around Momentum Group, highlighting where the latest margins and earnings trends support the story and where they begin to challenge it.
See what the community is saying about Momentum Group
Q2 profit of 64 million SEK backs 10.2% yearly earnings growth
- Net income of 64 million SEK in Q2 2026 sits within a trailing twelve month total of 195 million SEK, which lines up with reported earnings growth of 10.2% over the last year and a 10.5% per year pace over the past five years.
- What stands out for the bullish view is how this profit base and the 3.951095 SEK trailing twelve month EPS connect to the growth story:
- Consensus narrative points to steady aftermarket demand and strong cash flow as support for earnings resilience, and the 6.2% net profit margin over the last year compared with 5.9% previously fits that idea of improving profitability on a larger revenue base of 3.163b SEK.
- At the same time, bulls talk about acquisitions and efficiency projects contributing to margin expansion, and the combination of rising trailing earnings and a higher margin gives some concrete backing to those claims in the current numbers.
142.6 SEK share price at a 36.2x P/E premium
- With the share price at 142.6 SEK and the trailing twelve month EPS at 3.951095 SEK, the stock is trading on a P/E of 36.2x, compared with an industry average of 19.2x and peers at 26.6x, while analysts point to a DCF fair value of 161.25 SEK and an analyst price target of 148.00 SEK.
- Critics highlight this valuation gap as central to the bearish narrative, and the current numbers offer several pressure points:
- The stock sits below the DCF fair value of 161.25 SEK and the 148.00 SEK analyst target, which can look supportive for upside, but the P/E of 36.2x versus 19.2x for the industry means a lot of confidence is already reflected in the price even with those valuation markers.
- Bears also focus on the high debt level flagged in the risk summary, arguing that paying a premium multiple while leverage is elevated leaves less room for any disappointment in the 11.9% forecast earnings growth or the 7.5% revenue growth that analysts expect.
Revenue swings and margins checked against consensus narrative
- Quarterly revenue has moved between 735 million SEK and 887 million SEK over the last six reported quarters, with Q2 2026 at 887 million SEK versus 736 million SEK in Q1 2026, while trailing twelve month revenue stands at 3.163b SEK and the latest margin data shows a 6.2% net profit margin compared with 5.9% a year ago.
- Analysts' consensus view ties these figures to a mix of support and friction for the growth story:
- On the supportive side, the increase in trailing revenue from 2.947b SEK in early 2025 to 3.163b SEK by Q2 2026 and the higher net margin are consistent with a business benefiting from efficiency work and a broader product and services offering, which fits commentary around modernization of warehousing and value added services.
- On the other hand, the consensus narrative also flags that a large share of growth is linked to acquisitions and that some segments face cost pressure, and the variation in quarterly revenue within a band of 735 million SEK to 887 million SEK reminds investors that not every period lines up neatly with the smooth 6.8% to 7.5% annual revenue growth path built into forecasts.
Next Steps
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Momentum Group on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.
Unsure whether the mixed signals around Momentum Group tilt more positive or negative? Take a close look at the latest figures, weigh the trade off between risks and rewards, and then check the 3 key rewards and 1 important warning sign
See What Else Is Out There
Momentum Group combines a 36.2x P/E with revenue variation between quarters and reliance on acquisitions, which leaves less room for earnings or margin disappointment.
If that mix of a premium valuation and acquisition driven growth gives you pause, compare it with companies screened for stronger balance sheets and fundamentals through the solid balance sheet and fundamentals stocks screener (416 results).
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.
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