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Smartkarma | Primer: Generic Sweden (GENI SS) - Sep 2026

DividendsEarnings

» Smartkarma / by αSK Primers / Equity Bottom-Up Generic Sweden AB (GENI SS) is an established Swedish communications technology provider specializing in high-reliability Communication Platform as a Service (CPaaS), SMS gateway solutions, and critical radio paging infrastructure (Minicall), commanding a dominant >30% market penetration across Swedish municipalities and mission-critical public agencies. The company demonstrates consistent high-quality compounding with a 3-year revenue CAGR of 12.88%, a 3-year EPS CAGR of 14.93%, and superior profitability (FY2025 net margin of 16.89% and EBITDA margin of 21.41%), underpinned by strong cash generation (FY2025 Free Cash Flow of SEK 38.98M) and an attractive dividend yield of 4.43%. Trading at an estimated ~60% EV/adj. EBIT discount to Nordic and European CPaaS and software peers, Generic presents an attractive risk-reward profile, where near-term recruitment and external specialist cost headwinds are balanced by expanding non-cyclical e-health volumes, public sector demand for sovereign EU-compliant data hosting, and a strategic mix shift toward higher-margin software solutions.

14 days ago
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