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Athanase Innovation AB
(ATIN)
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Rating:53Neutral
Price Target:
kr20.50
▼(-0.49% Downside)
Action:Reiterated
Date:07/15/26
The score is held back primarily by weak and volatile operating performance (large losses and persistent operating cash burn), despite a low-risk balance sheet with minimal debt. Technicals are a secondary positive with price above key moving averages and a positive MACD, but elevated RSI raises pullback risk. Valuation is neutral-to-weak because the negative P/E is driven by losses and no dividend yield data is available.
Positive Factors
Low Leverage / Strong Balance Sheet
A near-zero debt profile materially reduces solvency and refinancing risk, giving management runway to absorb losses or invest in restructuring and growth. This durable financial flexibility supports survival and optionality across 2-6 month horizons.
Negative Factors
Persistent Operating Cash Burn
Consistent negative operating cash flow means the core business consumes cash rather than funds itself. Over months this forces dependence on external financing or equity dilution, constraining strategic choices and raising solvency risk if the trend persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet
A near-zero debt profile materially reduces solvency and refinancing risk, giving management runway to absorb losses or invest in restructuring and growth. This durable financial flexibility supports survival and optionality across 2-6 month horizons.
Read all positive factors
Athanase Innovation AB (ATIN) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr397.53M
Dividend YieldN/A
Average Volume (3M)56.00
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth-57.62%
EPS Growth19.14%
CountrySE
Employees31
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-2.30
Shares Outstanding19,297,642
10 Day Avg. Volume41
30 Day Avg. Volume56
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.81
Price to Sales (P/S)9.42
P/FCF Ratio-5.15
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)N/A
Revenue Forecast (FY)N/A
Athanase Innovation AB Business Overview & Revenue Model
Company Description
Established in 2016, Athanase Innovation AB is a Stockholm-based alternative investment firm dedicated to funding businesses that lead the way in robotics, digitalization, and automation within Sweden....
Athanase Innovation AB Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
72
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.38M | 36.86M | 176.83M | 40.60M | 6.38M | 7.06M |
| Gross Profit | -65.03M | -95.53M | 74.94M | 17.78M | -84.02M | -31.01M |
| EBITDA | -57.73M | -67.29M | 696.00K | -63.20M | -108.04M | -18.75M |
| Net Income | -44.31M | -57.62M | -19.64M | -56.26M | -114.53M | -26.55M |
Balance Sheet | ||||||
| Total Assets | 472.34M | 481.31M | 551.97M | 683.18M | 827.25M | 918.70M |
| Cash, Cash Equivalents and Short-Term Investments | 347.48M | 245.39M | 310.64M | 457.25M | 644.36M | 746.92M |
| Total Debt | 0.00 | 0.00 | 0.00 | 328.00K | 422.00K | 515.00K |
| Total Liabilities | 66.61M | 53.90M | 67.20M | 49.09M | 35.36M | 11.30M |
| Stockholders Equity | 405.32M | 427.20M | 484.76M | 634.09M | 791.89M | 907.40M |
Cash Flow | ||||||
| Free Cash Flow | -7.25M | -67.46M | -14.96M | -83.58M | -45.70M | -14.95M |
| Operating Cash Flow | -65.86M | -65.63M | -14.96M | -83.40M | -43.65M | -14.89M |
| Investing Cash Flow | 140.01M | -2.79M | -1.49M | 5.90M | -64.98M | -159.47M |
| Financing Cash Flow | 2.16M | 3.20M | -129.63M | -101.84M | -1.03M | 920.80M |
Athanase Innovation AB Technical Analysis
Positive
20.60
Price Trends
18.74
Positive
16.95
Positive
16.22
Positive
Market Momentum
0.55
Positive
76.78
Negative
17.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ATIN, the sentiment is Positive. The current price of 20.6 is above the 20-day moving average (MA) of 20.53, above the 50-day MA of 18.74, and above the 200-day MA of 16.22, indicating a bullish trend. The MACD of 0.55 indicates Positive momentum. The RSI at 76.78 is Negative, neither overbought nor oversold. The STOCH value of 17.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ATIN.
Athanase Innovation AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | kr401.68M | 6.01 | ― | 3.51% | -6.63% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr397.53M | -8.96 | ― | ― | -57.62% | 19.14% | |
53 Neutral | kr563.70M | 30.85 | ― | ― | 9.61% | ― | |
47 Neutral | kr348.82M | -3.70 | ― | 51.14% | ― | -765.84% | |
44 Neutral | kr122.59M | -7.26 | ― | ― | 8.60% | -70.68% |
* General Sector Average
SE:ATIN
Athanase Innovation AB
20.60
4.00
24.10%
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SE:STWK
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-21.30%
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.