Svenska Aerogel Holding AB (SE:AERO)
:AERO
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Svenska Aerogel Holding AB
(AERO)
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Rating:40Underperform
Price Target:
kr0.98
▼(-34.73% Downside)
Action:DowngradedDate:04/23/26
The score is driven primarily by weak financial performance (deep losses and significant cash burn) with only partial support from low leverage on the balance sheet. Technicals are also poor with the stock trading below major moving averages and bearish momentum, despite oversold readings. Valuation is constrained by a negative P/E and zero dividend yield.
Positive Factors
Product platform and addressable markets
Quartzene is a differentiated silica aerogel additive used for insulation, fire performance, weight reduction and mechanical enhancement across multiple industrial sectors. Its role as an ingredient that must be qualified creates a durable moat: successful qualification drives recurring volume sales as customers integrate it into production.
Negative Factors
Persistent cash burn
Substantial negative operating cash flow and FCF (-29.3m and -29.7m TTM) show the business consumes cash faster than it generates it. This structural burn necessitates external funding or use of reserves, raising dilution and execution risk and constraining investments in production scale-up and commercialisation required to convert pilots into steady revenue streams.
Read all positive and negative factors
Positive Factors
Negative Factors
Product platform and addressable markets
Quartzene is a differentiated silica aerogel additive used for insulation, fire performance, weight reduction and mechanical enhancement across multiple industrial sectors. Its role as an ingredient that must be qualified creates a durable moat: successful qualification drives recurring volume sales as customers integrate it into production.
Read all positive factors
Svenska Aerogel Holding AB (AERO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr48.51M
Dividend Yield0%
Average Volume (3M)150.25K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth28.17%
EPS Growth58.48%
CountrySE
Employees15
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-1.23
Shares Outstanding49,501,080
10 Day Avg. Volume158,203
30 Day Avg. Volume150,252
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.81
Price to Sales (P/S)6.51
P/FCF Ratio-1.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.99
Revenue Forecast (FY)kr8.30M
Svenska Aerogel Holding AB Business Overview & Revenue Model
Company Description
Svenska Aerogel Holding AB (publ), through its subsidiary, engages in the research, development, production, and sale of aerogel in Europe, North America, and Asia. It offers Quartzene, a non-flammable material, which is used to enhance the perfor...
How the Company Makes Money
Svenska Aerogel primarily makes money by selling its silica aerogel material (Quartzene) to industrial customers for use as an ingredient/additive in the customers’ own products. Revenue is therefore mainly tied to: (1) Material sales/volume-based...
Svenska Aerogel Holding AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
63
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.47M | 4.71M | 2.59M | 3.12M | 6.35M | 1.79M |
| Gross Profit | -11.32M | -10.80M | -13.94M | -14.72M | 5.71M | 1.71M |
| EBITDA | -25.68M | -24.85M | -25.82M | -33.47M | -32.77M | -33.41M |
| Net Income | -30.93M | -31.90M | -34.24M | -44.11M | -41.64M | -42.17M |
Balance Sheet | ||||||
| Total Assets | 38.02M | 45.64M | 45.26M | 58.51M | 74.41M | 101.03M |
| Cash, Cash Equivalents and Short-Term Investments | 3.62M | 8.30M | 1.54M | 6.03M | 14.05M | 34.17M |
| Total Debt | 697.00K | 697.00K | 3.77M | 8.39M | 13.42M | 18.52M |
| Total Liabilities | 6.98M | 7.84M | 11.50M | 33.47M | 31.00M | 38.37M |
| Stockholders Equity | 31.04M | 37.80M | 33.76M | 25.04M | 43.40M | 62.66M |
Cash Flow | ||||||
| Free Cash Flow | -29.67M | -26.11M | -28.45M | -38.30M | -41.46M | -33.84M |
| Operating Cash Flow | -29.34M | -25.66M | -28.30M | -37.88M | -37.34M | -31.13M |
| Investing Cash Flow | -325.00K | -456.00K | -152.00K | -419.00K | -4.12M | -2.89M |
| Financing Cash Flow | 32.77M | 32.87M | 23.97M | 30.27M | 21.34M | 41.34M |
Svenska Aerogel Holding AB Peers Comparison
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.