Boho Group AB (publ) (BOHO) AI Stock Analysis

• Market Cap: kr415.42M
• Dividend Yield: N/A
• Average Volume (3M): 21.73K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.05
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 100
• Sector: Services
• Sector Strength: N/A
• Industry: Real Estate - Development
• EPS (TTM): -0.26
• Shares Outstanding: 57,697,006
• 10 Day Avg. Volume: 19,712
• 30 Day Avg. Volume: 21,725
• PEG Ratio: 0.01
• Price to Book (P/B): 2.30
• Price to Sales (P/S): 2.70
• P/FCF Ratio: 8.12
• 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: kr7.50 ▼(-4.82% Downside)
• Action: N/A Date: 01/20/26
• Date: Action: N/A 01/20/26

The score is primarily held back by weak and volatile financial performance (sharp 2024 revenue drop, very low margins, and net losses) and a valuation picture clouded by negative earnings (negative P/E, no dividend data). These are partially offset by strong 2024 cash generation and a modestly constructive technical setup with price above key moving averages and mildly positive MACD.

Boho Group AB (publ) Business Overview & Revenue Model

Company Description

Boho Group AB (publ) operates as a hotel and restaurant development and operating company in Spain and Europe. It owns and operates Boho Club, a boutique resort on the Golden Mile in Marbella. The company was formerly known as Quartiers Properties AB (publ) and changed its name to Boho Group AB (publ) in September 2024. The company was incorporated in 2014 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Boho Group AB (publ) Financial Statement Overview

Summary

Operating results weakened materially in 2024 with a sharp revenue decline (-42.4% YoY), very low gross margin (~3.2%), and sizable net losses (~-27% net margin). Balance sheet leverage is meaningful (2024 debt-to-equity ~1.08) and losses pressure equity/ROE (~-23%). Offsetting this, 2024 operating and free cash flow were strong (~56.3M OCF; ~54.6M FCF), though cash flows have been volatile historically.

Income Statement

Results are highly volatile and currently weak. 2024 revenue fell sharply (-42.4% YoY) and profitability deteriorated materially, with very low gross margin (~3.2%) and sizable operating and net losses (net margin ~-27%). This reverses the solid 2023 profitability (positive operating and net margins) and highlights sensitivity to project timing and cost swings typical in development.

Balance Sheet

Leverage is meaningful but not extreme for a developer, with debt roughly around equity (2024 debt-to-equity ~1.08; similar range in prior years). However, equity has been pressured by recurring losses and 2024 return on equity is notably negative (~-23%), which reduces balance-sheet resilience if weak earnings persist.

Cash Flow

Cash generation in 2024 is a relative bright spot: operating cash flow (~56.3M) and free cash flow (~54.6M) were strong and improved sharply versus 2023, despite a net loss, suggesting effective working-capital or project cash conversion during the year. The main weakness is volatility—cash flows swung negative in 2022 and 2020, and 2024 free cash flow still declined versus the prior year (about -42.7%), underscoring uneven cash timing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	125.23M	164.25M	329.79M	203.39M	156.48M	55.80M
Gross Profit	4.46M	5.19M	63.25M	-1.43M	-9.29M	-34.67M
EBITDA	-6.14M	-5.83M	52.70M	43.72M	18.10M	-16.16M
Net Income	-36.00M	-44.69M	6.63M	-41.92M	-54.50M	-64.22M
Balance Sheet
Total Assets	381.64M	418.35M	516.10M	547.90M	596.14M	653.74M
Cash, Cash Equivalents and Short-Term Investments	9.93M	33.65M	37.17M	18.91M	48.74M	16.96M
Total Debt	203.58M	207.96M	223.58M	271.90M	288.44M	314.74M
Total Liabilities	222.59M	225.57M	277.63M	307.52M	349.36M	371.98M
Stockholders Equity	159.05M	192.79M	238.48M	240.38M	246.78M	281.76M
Cash Flow
Free Cash Flow	-22.57M	54.56M	6.58M	-44.77M	21.33M	-65.95M
Operating Cash Flow	-20.19M	56.33M	7.79M	-41.51M	22.37M	-62.05M
Investing Cash Flow	-29.23M	-37.80M	56.91M	-21.80M	44.19M	8.41M
Financing Cash Flow	-13.43M	-23.13M	-46.33M	-40.72M	-35.00M	63.27M

Boho Group AB (publ) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BONAS	65 Neutral	kr510.06M	22.51	―	―	1.12%	―
UTG	58 Neutral	kr251.60M	12.27	―	1.75%	18.41%	112.20%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
NOSA	54 Neutral	kr159.75M	-18.55	―	―	17.24%	35.77%
SEAF	54 Neutral	kr373.62M	-89.17	―	―	-1.52%	-43.08%
BOHO	50 Neutral	kr415.42M	-12.57	―	―	―	―
OBAB	49 Neutral	kr375.30M	-26.79	―	―	27.27%	-1165.24%