BICO Group AB Class B (BICO) AI Stock Analysis

• Market Cap: kr1.34B
• Dividend Yield: N/A
• Average Volume (3M): 288.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: -23.24%
• EPS Growth: 45.32%
• Country: SE
• Employees: 695
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -15.71
• Shares Outstanding: 69,074,900
• 10 Day Avg. Volume: 264,488
• 30 Day Avg. Volume: 288,586
• PEG Ratio: 4.13
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 1.16
• P/FCF Ratio: 31.08
• 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: 50 Neutral
• Price Target: kr18.00 ▼(-0.88% Downside)

BICO Group AB Class B's overall stock score is driven by significant financial performance challenges, including declining revenue and negative profit margins. Technical indicators suggest a bearish trend, and valuation metrics are unattractive due to negative earnings. While the earnings call provided some positive insights, such as strong growth in Lab Automation, the overall outlook remains cautious due to macroeconomic challenges and operational inefficiencies.

Positive Factors

Lab Automation Growth

The strong growth in Lab Automation indicates robust demand and successful execution of strategic initiatives, enhancing BICO's market position in this segment.

Significant Orders

Large orders from a global pharma company highlight BICO's competitive edge and potential for sustained revenue streams in the lab automation market.

Strengthened Cash Position

The strengthened cash position from divestments provides BICO with greater financial flexibility to invest in growth opportunities and manage operational needs.

Negative Factors

Declining Revenue

Declining revenue growth poses a challenge to BICO's ability to scale operations and maintain competitive advantage in the biotechnology sector.

Negative Profit Margins

Negative profit margins indicate inefficiencies in converting revenue into profit, threatening long-term sustainability and shareholder value.

Negative Cash Flow

Negative cash flow from operations suggests liquidity constraints, potentially limiting BICO's ability to fund growth initiatives and manage financial obligations.

BICO Group AB Class B Business Overview & Revenue Model

Company Description

BICO Group AB Class B (BICO) is a leading company in the biotechnology sector, focusing on innovative solutions in the life sciences and healthcare industries. The company specializes in biofabrication, offering advanced technologies and services for the development of tissue engineering and regenerative medicine. BICO's core products include bioprinters, biomaterials, and related software, which enable researchers and medical professionals to create and manipulate biological structures for research and therapeutic applications.

How the Company Makes Money

BICO generates revenue primarily through the sale of its bioprinting systems, biomaterials, and software solutions. The company has established key revenue streams from direct sales of its products to research institutions, universities, and healthcare providers, as well as recurring revenue from consumables and maintenance services. Additionally, BICO benefits from strategic partnerships with academic institutions and industry players, facilitating collaborations that enhance its product offerings and market reach. The company's focus on innovation and its ability to secure grants and funding for research projects also contribute to its earnings.

BICO Group AB Class B Financial Statement Overview

Summary

BICO Group AB demonstrates robust revenue growth with a focus on improving operational efficiency, as seen in the positive EBITDA margin. However, the company faces challenges with profitability and maintaining stockholders' equity. Cash flow management appears strong, with positive free cash flow trends indicating a potential turnaround in financial health. Continued focus on reducing losses and managing debt will be crucial for sustained improvement.

Income Statement

The company shows strong revenue growth over the years, but profitability is a concern. The TTM (Trailing-Twelve-Months) data indicates a negative net profit margin and EBIT margin, reflecting ongoing operational challenges. However, the EBITDA margin is positive, suggesting some operational efficiency. The increase in gross profit margin indicates improved cost management.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio and a reasonable equity ratio, indicating a stable financial structure. However, the decrease in stockholders' equity over time could be a concern if it continues. The company needs to improve its return on equity, which is currently negative due to ongoing losses.

Cash Flow

The cash flow statement shows a positive trend with improving free cash flow and operating cash flow. The free cash flow to net income ratio and operating cash flow to net income ratio are positive, indicating effective cash management despite negative net income. The company has reduced its financing cash flow significantly, which might impact future liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.67B	1.95B	2.01B	2.24B	1.26B	176.79M
Gross Profit	846.10M	1.01B	993.20M	1.83B	1.00B	163.62M
EBITDA	-686.70M	505.30M	442.80M	322.30M	31.80M	-39.50M
Net Income	-682.90M	-5.50M	-1.17B	-835.70M	-229.20M	-61.89M
Balance Sheet
Total Assets	3.74B	5.48B	6.06B	10.20B	9.75B	1.65B
Cash, Cash Equivalents and Short-Term Investments	1.24B	598.00M	804.10M	925.20M	1.48B	995.80M
Total Debt	1.30B	1.76B	1.96B	1.85B	1.61B	62.49M
Total Liabilities	1.93B	2.48B	2.96B	3.26B	2.95B	126.74M
Stockholders Equity	1.81B	2.98B	3.07B	6.91B	6.77B	1.52B
Cash Flow
Free Cash Flow	164.40M	72.70M	-112.80M	-799.00M	-676.20M	-154.12M
Operating Cash Flow	198.50M	158.40M	178.40M	-269.40M	-409.20M	-71.82M
Investing Cash Flow	928.00M	128.00M	-129.70M	212.90M	-4.45B	-200.90M
Financing Cash Flow	-574.70M	-200.70M	-102.00M	455.30M	4.90B	1.04B

BICO Group AB Class B Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.16
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BICO, the sentiment is Neutral. The current price of 18.16 is below the 20-day moving average (MA) of 19.06, below the 50-day MA of 20.26, and below the 200-day MA of 29.16, indicating a bearish trend. The MACD of -0.41 indicates Negative momentum. The RSI at 47.56 is Neutral, neither overbought nor oversold. The STOCH value of 74.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:BICO.

BICO Group AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CEVI	68 Neutral	kr3.70B	24.42	17.89%	1.61%	1.53%	0.79%
CRAD.B	66 Neutral	kr1.08B	46.16	6.93%	―	-5.80%	-65.99%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BICO	50 Neutral	kr1.34B	-1.96	-57.26%	―	-23.24%	45.32%
SEDANA	48 Neutral	kr985.42M	-24.24	-4.42%	―	13.48%	28.98%
BACTI.B	46 Neutral	kr679.85M	-31.96	-6.81%	―	-8.10%	62.08%
SEZI	43 Neutral	kr826.95M	-6.07	-36.55%	―	62.24%	21.16%

BICO Group AB Class B Corporate Events

BICO Group AB Reports Q3 2025 Financial Results with Mixed Performance

BICO Group AB’s interim report for Q3 2025 shows a 4.8% increase in net sales compared to the previous year, with significant growth in lab automation and life science solutions. Despite these gains, the company faced challenges with impairments in Discover ECHO and Biosero, impacting EBIT, but divestments of MatTek and Visikol strengthened their cash position.

BICO Group AB Reports Q3 Growth Amid Impairments

BICO Group AB reported preliminary figures for Q3 2025, highlighting an organic sales growth of 12% and an improved adjusted EBITDA margin. However, the company announced significant impairments totaling SEK 1,036m due to revised forecast assumptions and weaker financial performance in certain segments, impacting EBIT but not cash flow. Despite these challenges, BICO anticipates long-term growth and reaffirms strong demand for its lab automation solutions.

BICO Group AB to Release Q3 2025 Interim Report

BICO Group AB announced the release of its Q3 2025 interim report scheduled for November 4, 2025. Following the report’s publication, a telephone conference will be held to discuss the results, featuring presentations by the company’s President & CEO and CFO. This announcement reflects BICO’s commitment to transparency and engagement with stakeholders, providing insights into its financial performance and strategic direction.

BICO Group AB Forms Nomination Committee for 2026 AGM

BICO Group AB has announced the formation of its Nomination Committee for the 2026 Annual General Meeting, with members appointed by the company’s largest shareholders. This committee, representing approximately 44% of voting rights, will prepare proposals for board elections, auditor appointments, and other key decisions for the upcoming meeting, reflecting BICO’s commitment to structured governance and stakeholder engagement.

BICO Group AB Appoints Maria Rankka as New Board Chair

BICO Group AB has appointed Maria Rankka as the new Board Chair, following the resignation of Rolf Classon due to health reasons. Rankka, an experienced investor and entrepreneur in Health Tech and Life Science, aims to focus on advancing BICO’s strategic goals and enhancing its market position. Her appointment is expected to strengthen BICO’s mission of supporting pharma and biopharma companies in accelerating innovations to market, contributing to healthier societies.

BICO Group Appoints Fraser McLeod as Managing Director of Biosero

BICO Group AB has appointed Fraser McLeod as the new Managing Director of its subsidiary, Biosero, effective September 22, 2025. With extensive experience in the life sciences industry, McLeod is expected to drive sustainable growth and strengthen Biosero’s position in providing automated and data-driven lab solutions. This strategic move aligns with BICO’s 2.0 strategy, aiming to enhance the company’s market positioning and create long-term value for customers and stakeholders.