Acrinova AB Class A (ACRI.A) AI Stock Analysis

• Market Cap: kr480.57M
• Dividend Yield: 13.73%
• Average Volume (3M): 6.15K
• Price to Earnings (P/E): 11.1
• Beta (1Y): -0.38
• Revenue Growth: -0.10%
• EPS Growth: 426.11%
• Country: SE
• Employees: 8
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Diversified
• EPS (TTM): 0.39
• Shares Outstanding: 15,039,111
• 10 Day Avg. Volume: 16,690
• 30 Day Avg. Volume: 6,153
• PEG Ratio: 0.14
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 5.20
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: kr12.00 ▲(13.74% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is driven primarily by improving recent financial performance but tempered by declining revenue and historically volatile earnings/free-cash-flow reliability. Valuation is a key positive (low P/E and very high dividend yield), while technicals are only moderately supportive with price still below the 200-day average.

Positive Factors

Improved Profitability

A ~48% net margin in 2025 indicates the firm currently extracts strong operating profitability from its commercial portfolio. Sustained higher margins would create a durable earnings buffer versus rental volatility, supporting cash generation, distributions and reinvestment capacity over the medium term.

Lower Leverage

Reduced leverage improves financial flexibility and lowers refinancing and interest-rate sensitivity. A healthier balance sheet enhances capacity to fund development or opportunistic acquisitions, and provides resilience to cyclical rent pressure without immediate need for equity raising.

Operating Cash Flow Recovery

A strong rebound in operating cash flow versus net income demonstrates improved cash conversion, bolstering near-term liquidity for maintenance and value-add projects. If maintained, this enhances the company’s ability to service debt and support distributions despite prior cash volatility.

Negative Factors

Revenue Decline

An ~18.5% top-line drop erodes the rental income base that underpins NOI and long-term earnings. Persistent revenue weakness undermines the sustainability of margins and cash flow, reduces scale benefits, and makes it harder to fund development or absorb tenant/market shocks.

Volatile Free Cash Flow

Multi-year swings to zero or negative free cash flow signal inconsistent surplus after investments, constraining reliable dividends, debt reduction and growth capex. This variability increases refinancing risk and complicates multi-period capital planning and investor confidence.

Geographic Concentration

Concentration in southern Sweden and a commercial-only portfolio raises exposure to regional economic cycles and local leasing dynamics. Limited geographic and sector diversification can amplify downside if regional demand softens or vacancy rises, reducing long-term resilience.

Acrinova AB Class A Business Overview & Revenue Model

Company Description

Acrinova AB (publ) owns, develops, and manages real estate properties in southern Sweden. The company offers condominiums, premises for trade and offices, preschools, schools, and nursing homes. It comprises of 27 properties in the Oresund and focuses on properties, such as warehouses and logistics. Acrinova AB (publ) was founded in 2014 and is headquartered in Malmo, Sweden.

How the Company Makes Money

Acrinova generates revenue primarily through the sale of its diagnostic products and therapeutic solutions to hospitals, clinics, and healthcare providers. The company has established key partnerships with pharmaceutical companies and research institutions, allowing it to expand its product offerings and enhance its research capabilities. Additionally, Acrinova may receive funding through grants and collaborations for research and development initiatives, contributing to its overall earnings. The company also explores licensing agreements for its technologies, which can provide significant income streams as they gain regulatory approval and market adoption.

Acrinova AB Class A Financial Statement Overview

Summary

Latest year shows improved profitability (net margin ~48%), better leverage (debt ~0.72x equity), and a sharp rebound in operating cash flow versus net income. Offsets include a steep revenue decline (-18.5% YoY) and multi-year volatility in profitability and free-cash-flow generation (FCF reported at zero in 2025 and negative in prior years), reducing confidence in durability.

Income Statement

Profitability is strong on the latest annual print (2025) with a healthy net margin (~48%) and solid operating profitability, but revenue declined sharply (-18.5% YoY), signaling weaker top-line momentum. Results across prior years show meaningful volatility (very high margins in 2021–2022 versus much lower profitability in 2023–2024), which reduces confidence in earnings stability.

Balance Sheet

Leverage appears manageable on the latest year with debt at ~0.72x equity (down materially from ~1.1x in 2023–2024), indicating improved balance-sheet risk. That said, the company still operates with substantial absolute debt and return on equity is moderate (~10.7% in 2025) with a history of weaker returns in 2023–2024, suggesting performance is not consistently strong through the cycle.

Cash Flow

Cash generation improved markedly in 2025 with very strong operating cash flow versus net income (operating cash flow is ~5.8x net income), but free cash flow was reported at zero with a -100% growth rate, implying limited residual cash after investment/working-capital effects. Prior years were choppy (negative free cash flow in 2022–2023 and weaker operating cash conversion in 2023–2024), which points to variability in cash reliability.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	128.15M	159.70M	147.08M	130.53M	101.95M
Gross Profit	76.59M	109.32M	100.71M	89.43M	72.61M
EBITDA	39.18M	106.81M	73.76M	55.86M	193.68M
Net Income	59.97M	35.91M	7.76M	79.34M	153.16M
Balance Sheet
Total Assets	1.03B	2.19B	2.16B	2.10B	1.83B
Cash, Cash Equivalents and Short-Term Investments	151.39M	81.15M	43.06M	28.31M	74.66M
Total Debt	401.25M	1.08B	1.09B	995.69M	798.74M
Total Liabilities	471.06M	1.23B	1.22B	1.15B	956.25M
Stockholders Equity	558.81M	962.26M	946.92M	941.29M	874.99M
Cash Flow
Free Cash Flow	0.00	12.53M	-77.69M	-28.75M	70.69M
Operating Cash Flow	337.73M	61.06M	71.23M	-23.76M	79.90M
Investing Cash Flow	218.58M	-87.75M	-149.53M	-204.88M	-635.12M
Financing Cash Flow	-486.07M	64.78M	93.05M	182.30M	582.69M

Acrinova AB Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.55
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ACRI.A, the sentiment is Positive. The current price of 10.55 is below the 20-day moving average (MA) of 11.00, below the 50-day MA of 10.71, and below the 200-day MA of 11.75, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 55.90 is Neutral, neither overbought nor oversold. The STOCH value of 73.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ACRI.A.

Acrinova AB Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ACRI.B	65 Neutral	kr480.57M	11.17	―	13.40%	-0.10%	426.11%
ACRI.A	62 Neutral	kr480.57M	11.12	7.08%	13.73%	-0.10%	426.11%
GPG	56 Neutral	kr1.87B	7.85	―	1.67%	0.71%	―
STUDBO	55 Neutral	kr1.20B	5.53	―	―	9.11%	―