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Apotea AB
(APOTEA)
Select Model
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Rating:66Neutral
Price Target:
kr86.00
▲(29.32% Upside)
Action:Downgraded
Date:07/18/26
The score is primarily held back by financial quality concerns—especially weaker and volatile free cash flow despite improved profitability—while technicals are supportive with the stock trading above major moving averages and positive momentum indicators. Valuation is the other key constraint due to a high P/E and modest dividend yield.
Positive Factors
Online pharmacy model
Apotea's pure-play online pharmacy model aligns with structural consumer shifts to e-commerce for healthcare. A wide product assortment and focus on automated fulfillment support scale-driven unit cost reductions and repeat-purchase economics that persist over multi-month horizons.
Negative Factors
Weak cash conversion
A sharp decline in free cash flow and weak cash conversion relative to net income reduces financial flexibility. Persistent FCF volatility limits the firm's ability to fund growth, absorb shocks, or reliably return capital, making long-term planning and investment riskier.
Read all positive and negative factors
Positive Factors
Negative Factors
Online pharmacy model
Apotea's pure-play online pharmacy model aligns with structural consumer shifts to e-commerce for healthcare. A wide product assortment and focus on automated fulfillment support scale-driven unit cost reductions and repeat-purchase economics that persist over multi-month horizons.
Read all positive factors
Apotea AB (APOTEA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.57B
Dividend YieldN/A
Average Volume (3M)136.78K
Price to Earnings (P/E)30.8
Beta (1Y)0.41
Revenue Growth9.35%
EPS Growth-91.93%
CountrySE
Employees736
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)2.36
Shares Outstanding104,070,970
10 Day Avg. Volume129,131
30 Day Avg. Volume136,777
Financial Highlights & Ratios
PEG Ratio7.96
Price to Book (P/B)11.37
Price to Sales (P/S)1.33
P/FCF Ratio81.54
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)2.71
Revenue Forecast (FY)kr8.07B
Apotea AB Business Overview & Revenue Model
Company Description
Apotea AB (publ) operates an online pharmacy in Sweden. The company offers products in the areas of allergy, face, child and parent, bite and sting, preparedness, animal, fever and aches, cold, home and household, aid, hair removal and shaving, ha...
How the Company Makes Money
Apotea makes money primarily by retailing products through its online storefront and earning revenue on each order. Its core revenue streams include: (1) sales of prescription medicines, where revenue is generated from dispensing and fulfilling pr...
Apotea AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
69
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.59B | 7.20B | 6.54B | 5.45B | 4.88B | 4.56B |
| Gross Profit | 1.93B | 1.94B | 1.79B | 1.45B | 1.27B | 750.33M |
| EBITDA | 518.81M | 464.10M | 399.60M | 226.00M | 104.80M | 160.27M |
| Net Income | 245.60M | 228.70M | 214.90M | 87.00M | 19.90M | 104.49M |
Balance Sheet | ||||||
| Total Assets | 2.23B | 1.98B | 146.49M | 132.18M | 1.25B | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 103.50M | 3.31M | 2.46M | 1.89M | 18.20M | 81.38M |
| Total Debt | 279.30M | 331.00M | 21.78M | 25.89M | 332.70M | 144.33M |
| Total Liabilities | 1.26B | 1.12B | 89.25M | 90.14M | 897.50M | 684.99M |
| Stockholders Equity | 947.00M | 844.00M | 55.37M | 39.93M | 327.50M | 339.76M |
Cash Flow | ||||||
| Free Cash Flow | 152.00M | 117.70M | 42.40M | 94.70M | -110.60M | 145.82M |
| Operating Cash Flow | 234.01M | 333.30M | 206.20M | 215.80M | 31.50M | 227.30M |
| Investing Cash Flow | -82.20M | -214.50M | -163.70M | -121.60M | -141.40M | -81.58M |
| Financing Cash Flow | -117.50M | -115.30M | -34.20M | -93.30M | 46.30M | -78.39M |
Apotea AB Peers Comparison
UnderperformOutperform
Sector (55)
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Apotea AB Corporate Events
Apotea Delivers Strong Q2 2026 Growth and Profitability Despite Softer Cash Flow
Jul 17, 2026
Apotea AB reported continued strong profitability and stable growth in the second quarter of 2026, with net revenue rising 10.9% year-on-year to SEK 2,025.9 million and an EBIT margin of 5.2%. For the first half of 2026, revenue grew 10.7% to SEK ...
Apotea Invites Investors to Q2 2026 Results Webcast
Jun 12, 2026
Apotea AB will release its second-quarter 2026 report on 17 July, with the results for January to June 2026 presented the same morning via an English-language webcast. The company is inviting investors, analysts, media and other stakeholders to jo...
Apotea Boosts Capital and Employee Ownership With New Class D Share Issue
May 29, 2026
Apotea has completed a directed new share issue of 400,000 Class D shares under its newly established employee D-share programme, following authorisation from its recent Annual General Meeting. The move modestly increases the company’s share...
Apotea AGM Approves Dividend, Confirms Board Line-up and Governance Framework
May 26, 2026
Apotea AB’s Annual General Meeting approved the 2025 income statements and balance sheets and resolved to distribute a dividend of SEK 0.60 per ordinary share, with payment scheduled for early June 2026. The meeting also discharged the board...
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.