MilDef (MILDEF · OMX)

Aerospace & DefenseOMXEUROPESmall

NATO's Force Multiplier

MilDef, a Stockholm-listed defence-tech company, makes the battle-ready computers, networks and tactical software armies rely on in the field. As Europe rearms, it is now winning its largest-ever orders.

MilDef Group AB

MILDEF: OMX

231.20 SEK

+92.67%

year to date

Market CapSEK11.23B

Avg Volume208.68K

PriceSEK231.20-3.02%

P/E Ratio41.85ttm

Pricing delayed 20 minutes Oct 5, 2026, 12:00 AM

Bull case for MilDef

A Direct Play on Europe's Rearmament
Rising, multi-year defence budgets give MilDef a long demand runway.
Moving Up the Defence Value Chain
Higher-margin software and systems work lifts profitability as it scales.
A Landmark Deal Now Unlocking Europe
Germany deal opens the large DACH and pan-European market.

Bear case for MilDef

Lumpy Orders and Uneven Quarters
A few large contracts can swing any single quarter sharply.
Integration and Execution Risk
Absorbing roda and scaling capacity could strain the business.
Margins May Not Hold
Strong recent margins were flattered by favourable product mix.