Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
CTT Systems AB (publ) is a Sweden-based technology company specializing in humidity control systems for the aviation industry. Incorporated in 1991 and headquartered in Nyköping, it develops, manufactures, and sells innovative products that address moisture issues in aircraft, enhancing passenger comfort, crew well-being, and operational reliability while reducing environmental impact. Its portfolio includes the Zonal Drying System to prevent condensation, Cair for moisture management and cabin humidification, Crew Humidifiers for rest areas, and Cair VIP tailored for private jets under the Humidifier Onboard brand. The company operates through business units like CTT Systems for core humidity solutions, Bribo Mekaniska for stamped metal components, and Catron Elektronik for communication equipment. Serving over 50 major airlines and collaborating with giants like Boeing and Airbus, CTT Systems supplies systems for new aircraft production and retrofits existing fleets. With a focus on aftermarket services matching the 20-year aircraft lifecycle, it holds niche dominance in long-haul aircraft humidifiers and anti-condensation technologies, employing around 85 people and driving sustainable aviation advancements.
kr 132.33
+kr 1.33 (+1.02%)
Price from 2 days ago
20.92% operating margin is above average. ROIC at 13.81%.
Revenue declined 11.9% YoY. Margins deteriorated 15.0pp alongside, both lines moving the wrong way.
At 40x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 50% versus the prior year, cash generation momentum has weakened.
40.0x earnings, 104.3x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
kr 276M
▼ -11.9% YoY
Net Income (TTM)
kr 42M
▼ -54.8% YoY
Op. Margin
22.11%
▼ -15.0pp YoY
ROIC
13.81%
▼ -11.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
kr 16M
▼ -50.2% YoY
Op. Cash Flow (TTM)
kr 30M
▼ -46.5% YoY
Net Debt
kr 9M
Cash & Equiv.
kr 27M
3Y CAGR: +3.2%
3Y CAGR: -17.2%
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At a P/E of 40.0 and a price-to-free-cash-flow of 104.3, CTT Systems AB (publ) (CTT.XSTO) trades above a two-stage DCF intrinsic value of about SEK 21.28 per share, so at SEK 132.33 the stock looks overvalued (83.9% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, CTT Systems AB (publ) scores 38/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.0%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about SEK 21.28 per share for CTT.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around SEK 15.96. At today's SEK 132.33, that puts the stock about 83.9% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
CTT Systems AB (publ) scores 38 out of 100 on Intrinsiqq's quality score, passing 2 of 8 checks, which makes it a lower-quality business on these measures. Recent fundamentals include a 22.1% operating margin and a 13.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
Yes, CTT Systems AB (publ) pays a regular dividend of about SEK 5.36 per share per year (typically in quarterly installments), a yield of roughly 4.0% at the current price. That is a payout ratio of about 161.3% of earnings, so the dividend is stretched at this level. CTT Systems AB (publ) has grown the dividend at roughly 32.5% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For CTT.XSTO's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. CTT.XSTO currently trades above its estimated intrinsic value and scores 38/100 on quality (lower-quality). It also yields about 4.0%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.