Athanase Innovation AB (SE:ATIN)
:ATIN
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Athanase Innovation AB
(ATIN)
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Rating:46Neutral
Price Target:
kr15.50
▼(-13.89% Downside)
Action:ReiteratedDate:02/23/26
The score is primarily held back by weak financial performance—declining revenue, persistent losses, and generally negative operating cash flow—despite a conservatively financed balance sheet. Technicals add modest pressure with price below longer-term averages and negative MACD, while valuation is neutral due to a negative P/E and no dividend support.
Positive Factors
Conservative balance sheet
Near-zero leverage materially reduces solvency and refinancing risk, giving management time and optionality to execute a turnaround or invest incrementally. Over 2-6 months this flexibility supports stability and lowers probability of distress despite weak operations.
Negative Factors
Severe revenue decline
A multi-year, sharp revenue contraction undermines fee generation and economies of scale intrinsic to asset management. Sustained declines erode client confidence and pricing power, making recovery harder and requiring meaningful business-model fixes to restore durable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Near-zero leverage materially reduces solvency and refinancing risk, giving management time and optionality to execute a turnaround or invest incrementally. Over 2-6 months this flexibility supports stability and lowers probability of distress despite weak operations.
Read all positive factors
Athanase Innovation AB (ATIN) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr270.17M
Dividend YieldN/A
Average Volume (3M)56.00
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue GrowthN/A
EPS GrowthN/A
CountrySE
Employees31
SectorTechnology
Sector Strength88
IndustryAsset Management
Share Statistics
EPS (TTM)-0.44
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 Ratio0.00
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
Athanase Innovation AB is an alternative investment firm in Sweden. It invests in companies that operate in the forefront of robotics, digitalization, and automation. The company was incorporated in 2016 and is based in Stockholm, Sweden....
Athanase Innovation AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 36.86M | 176.83M | 40.60M | 6.38M | 7.06M |
| Gross Profit | -81.41M | 74.94M | 17.78M | -84.02M | -31.01M |
| EBITDA | -67.29M | 696.00K | -63.20M | -108.04M | -18.75M |
| Net Income | -57.62M | -19.64M | -56.26M | -114.53M | -26.55M |
Balance Sheet | |||||
| Total Assets | 481.31M | 551.97M | 683.18M | 827.25M | 918.70M |
| Cash, Cash Equivalents and Short-Term Investments | 245.39M | 310.64M | 457.25M | 644.36M | 746.92M |
| Total Debt | 0.00 | 0.00 | 328.00K | 422.00K | 515.00K |
| Total Liabilities | 53.90M | 67.20M | 49.09M | 35.36M | 11.30M |
| Stockholders Equity | 427.20M | 484.76M | 634.09M | 791.89M | 907.40M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -14.96M | -83.58M | -45.70M | -14.95M |
| Operating Cash Flow | -65.63M | -14.96M | -83.40M | -43.65M | -14.89M |
| Investing Cash Flow | -2.79M | -1.49M | 5.90M | -64.98M | -159.47M |
| Financing Cash Flow | 3.20M | -129.63M | -101.84M | -1.03M | 920.80M |
Athanase Innovation AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr494.95M | 6.76 | ― | 3.51% | 7.83% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | kr325.63M | -80.34 | ― | ― | -1.52% | -43.08% | |
50 Neutral | kr122.95M | -11.41 | ― | ― | 5.41% | 20.99% | |
49 Neutral | kr366.36M | -15.68 | ― | 8.78% | ― | ― | |
46 Neutral | kr270.17M | -6.03 | ― | ― | ― | ― |
* Technology Sector Average
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Athanase Innovation AB
14.00
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-35.78%
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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.