European Growth Companies with High Insider Ownership in 2025–2026: A Strategic Investment Case

The European equity market in 2025–2026 presents a compelling opportunity for investors seeking undervalued, fast-growing stocks with strong management alignment. Three standout names-Ambu A/S, Norbit ASA, and MilDef Group AB-exemplify this trend, combining robust insider ownership with operational momentum and forward-looking growth strategies. By analyzing their financial performance, strategic initiatives, and governance structures, we can identify a clear investment case rooted in alignment of interests and scalable potential.

Ambu A/S: Endoscopy Leadership and Margin Resilience

Ambu's 20.1% insider ownership underscores a management team deeply invested in long-term value creation. The company's 2025 results highlight its dominance in the endoscopy sector, with organic revenue growth of 13.1% for the year and a 15.4% increase in its core endoscopy business. Despite challenges such as tariff costs and foreign exchange headwinds, Ambu's EBIT margin for Q4 2025 stood at 10.0%, with management projecting a recovery to 14–16% by excluding tariff impacts. Analysts anticipate a 20% annual earnings growth rate, driven by strategic shifts like production relocation to Mexico.

Ambu's long-term target of a 20% EBIT margin by 2027–2028 reflects confidence in its ability to navigate macroeconomic pressures. With a diversified product portfolio and a strong R&D pipeline, Ambu remains a prime candidate for investors prioritizing durable growth in healthcare innovation.

Norbit ASA: Diversified Technology with Margin Expansion

Norbit's 24.4% insider ownership-the highest among the three-signals exceptional alignment between management and shareholders. The company's 2025 guidance of NOK 2.5–2.6 billion in revenue and a 24–25% EBIT margin is underpinned by strong performance across its segments. In Q3 2025, Norbit reported NOK 505.4 million in revenue, a 36% year-over-year increase, with the PIR segment growing by 96% and the Oceans segment up 22%.

Notably, Norbit's Connectivity segment faced a 3% revenue decline due to postponed On-Board Unit deliveries, but management expects a rebound in Q4. The company's recent employee share purchase program, with 76,077 shares subscribed, further reinforces its commitment to long-term value creation. Analysts project 21.9% annual EPS growth, supported by Norbit's strategic focus on defense and security technologies-a sector poised for sustained demand.

MilDef Group AB: Defense Sector Scalability and Capacity Expansion

MilDef's 13.7% insider ownership reflects a management team with significant skin in the game, even as the company navigates near-term challenges. Q3 2025 results were stellar: net sales surged 116% year-over-year, adjusted EBITDA rose 172%, and the EBITDA margin hit 15.7%. However, the stock dipped 3.85% due to a SEK 53.1 million free cash flow deficit, a temporary hurdle as the company scales production.

MilDef's strategic acquisitions, such as Roda, have fueled a record order backlog of SEK 3.5 billion, while a new Stockholm/Rosersberg facility will quadruple production capacity. Analysts forecast 96% sales growth for FY2025, with CFO Viveca Johnsson emphasizing resource allocation to address delivery bottlenecks at a strategic level. The company's Q4 2025 and Q1 2026 outlook suggests a return to positive free cash flow, making MilDef a high-conviction play in the defense sector.

Conclusion: A Tripartite Investment Case

The combination of high insider ownership, operational resilience, and sector-specific tailwinds positions Ambu, Norbit, and MilDef as standout investments. Ambu's healthcare innovation and margin discipline, Norbit's diversified technology growth, and MilDef's defense scalability each offer unique advantages. Collectively, they represent a diversified portfolio of European growth stocks where management's interests are closely aligned with those of shareholders-a critical factor in navigating the uncertainties of 2025–2026.

For investors seeking exposure to companies with strong governance and scalable growth, these three names warrant serious consideration.