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← CockpitCompetitor Analysis › TRUE-B.ST Truecaller AB Class BOpen in the cockpit ↗

Truecaller AB Class BTRUE-B.STCompetitor analysis, valuation and peers

Sweden · SEK·Information Technology›Packaged Software
Momentum leader 94
Mkt cap
$750M
US dollars, full cap
Free float
89%
of shares outstanding
$/day
$4.18M
20-day average traded
Fwd P/E
24.7×
forward earnings
ROIC−WACC
n/a
WACC 8.9%
Hurdle
-20 pp
Req g minus delivered
Next earnings
103 days
17 Feb 2027
Close · SEKSEK 23.67
1D+3.0%
1W-0.6%
1M+5.2%
3M+20.5%
6M+68.9%
YTD+22.6%
1Y-14.8%
ATR %6.1%
52w lowhigh14.7% off high

What Truecaller does

Employees: 471

Truecaller at a glance

Size Truecaller (TRUE-B.ST) is a Sweden Information Technology company (Packaged Software) with a market value of $750M, the 152nd largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 23.67 on 6 Nov 2026.

Performance Over six months the shares gained 68.9%, against -13.7% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue fell 15.8% over the last twelve months (peer median +12.0%); the operating margin is 18.8% (peer median 6.4%).

Valuation It trades at 24.7× forward earnings against a peer median of 17.5× (3rd most expensive of 14).

Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -20 pp: the price already allows for a slowdown.

Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).

Relative performance

10015011 May 202611 Aug 20266 Nov 2026TRUE-B.ST 170Peer median 88
Six months, rebased to 100: Truecaller against the median of its 20 peers (local-currency closes).

Truecaller financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueSEK 1.67BSEK 1.91BSEK 1.86BSEK 1.73BSEK 1.77B
Revenue growth—+3%+8%-2%—
Gross profitSEK 314MSEK 753MSEK 864MSEK 815MSEK 908M
EBITDASEK 380MSEK 696MSEK 833MSEK 779MSEK 846M
Net incomeSEK 122MSEK 389MSEK 524MSEK 536MSEK 535M
Free cash flowSEK 389MSEK 518MSEK 602MSEK 565MSEK 603M
Capital expenditureSEK 31.6MSEK 39.5MSEK 14.2MSEK 26.0MSEK 14.7M
Total debtSEK 131MSEK 67.8MSEK 100MSEK 121MSEK 142M

Quarterly statements and history in the cockpit →

Truecaller competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%-20%0%+20%300561002777LSS3000366036364432300047IRE300533INTELLECTDCBO300532ABS2643MNTNSMWB3881DYVOXPEXIPTRUE-B.ST6-month return →1-month return →
Up and to the right = strong over both horizons. Truecaller is the large dot.

Fundamentals: revenue growth against valuation

-40%-20%0%+20%20×40×002777LSS6036364432IREINTELLECTLINKMNTNSMWBDYVOXPEXIPTRUE-B.STRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Truecaller is the large dot.

Capital: growth delivered against growth the price implies

0%+20%+40%0%20%40%002777LSS3000366036364432IRE300533INTELLECTDCBOLINKABSMNTNSMWBDYVOXPEXIPTRUE-B.STGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Truecaller is the large dot.

Truecaller competitors and peer comparison

How Truecaller compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Truecaller against its 20 peers (data as of 6 Nov 2026)
MeasureTRUE-B.STPeer medianRank in peer set
1-month return+5.2%-2.2%7th highest of 21
6-month return+68.9%-13.7%2nd highest of 21
Distance from 52-week high-14.7%-40.9%5th highest of 21
Revenue growth (TTM)-15.8%+12.0%3rd lowest of 21
Operating margin18.8%6.4%4th highest of 21
Forward P/E24.7×17.5×3rd most expensive of 14
Growth the price implies (Req g, 7 yrs)11.3%10.2%8th most demanding of 16
Growth delivered (Del g)+31.2%+14.9%4th highest of 16
Hurdle (Req g minus delivered)-19.9 pp-7.2 pp3rd least demanding of 16
EV / EBITDA16.3×10.8×3rd most expensive of 11
Net debt / EBITDA-3.0×0.6×3rd least indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Truecaller TRUE-B.STSweden$750M+69%-16%19%24.7×11.3%+31.2%
SGSG Science & Technology Co., Ltd. Zhuhai 300561.SZChina$749M-14%+13%-40%n/an/an/a
Sichuan Jiuyuan Yinhai Software 002777.SZChina$746M-22%-13%4%46.9×31.2%+1.3%
Lectra LSS.PAFrance$754M+10%-6%6%21.7×12.6%+16.5%
Beijing Supermap Software 300036.SZChina$744M-33%-24%-21%n/a30.5%-1.2%
Linewell Software 603636.SSChina$755M-2%-42%-111%22.4×16.4%-11.5%
WingArc1st 4432.TJapan$755M+29%+15%30%15.4×-7.6%+11.1%
Shenzhen Tianyuan DIC Information Technology 300047.SZChina$743M-32%+14%1%n/an/an/a
IRESS IRE.AXAustralia$739M-4%-14%17%12.8×10.2%+0.5%
Shenzhen Bingchuan Network 300533.SZChina$763M-18%-5%-10%n/a4.7%+46.0%
Intellect Design Arena INTELLECT.NSIndia$766M-34%+17%12%17.0×28.1%+15.2%
Docebo DCBO.TOCanada$732M+44%+11%9%17.4×14.1%+32.1%
New Trend International Logis-Tech 300532.SZChina$728M-7%+56%7%n/an/an/a
LINK Mobility LINK.OLNorway$771M-9%+16%6%16.1×5.7%+14.9%
Asseco Business Solutions ABS.WAPoland$728M-6%+15%33%17.5×3.8%+11.1%
CaoCao 2643.HKHong Kong$725M-59%+38%-3%n/an/an/a
MNTN MNTNUnited States$776M-38%+21%15%10.3×0.2%+41.0%
Similarweb SMWBUnited States$724M+141%+10%-2%29.0×28.2%+24.8%
CiDi 3881.HKHong Kong$777M-43%+139%-48%n/an/an/a
Dynavox DYVOX.STSweden$778M-14%+10%13%24.0×7.6%+22.5%
Pexip PEXIP.OLNorway$722M-18%+9%26%21.4×-0.3%+12.6%

Questions

Which companies are Truecaller's closest peers?
The cockpit's peer set: SGSG Science & Technology Co., Ltd. Zhuhai (300561.SZ), Sichuan Jiuyuan Yinhai Software (002777.SZ), Lectra (LSS.PA), Beijing Supermap Software (300036.SZ), Linewell Software (603636.SS), WingArc1st (4432.T), Shenzhen Tianyuan DIC Information Technology (300047.SZ), IRESS (IRE.AX).
Is Truecaller expensive compared with its peers?
On forward p/e it trades at 24.7× against a peer median of 17.5×, 3rd most expensive of 14 in its peer set. For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -20 pp: the price already allows for a slowdown.
How has Truecaller stock performed?
Over six months to 6 Nov 2026 the shares returned +68.9% against -13.7% for the median peer; over one year -14.8%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.