Boule Diagnostics AB (SE:BOUL)
:BOUL
Want to see SE:BOUL full AI Analyst Report?
Top Page
Boule Diagnostics AB
(BOUL)
Select Model
Select Model
Rating:41Neutral
Price Target:
kr3.50
Action:Reiterated
Date:04/30/26
The score is driven primarily by weak financial performance (net losses, elevated leverage, and volatile cash generation) and bearish technicals (price below all key moving averages with negative MACD). Valuation provides limited support because the negative P/E reflects ongoing losses and no dividend yield data is available.
Positive Factors
Recurring consumables from installed base
Boule's business model combines instrument sales with high-frequency consumables and service revenue tied to an installed base. That creates recurring, predictable revenue streams and higher lifetime value per customer, supporting durable cash generation and margin stability over months.
Negative Factors
Elevated leverage (D/E ~1.5)
Debt materially above equity constrains financial flexibility and raises interest expense sensitivity. With equity reduced since 2023, sustained profitability and cash flow are required to de-risk the balance sheet; otherwise leverage could limit investment and amplify downside in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables from installed base
Boule's business model combines instrument sales with high-frequency consumables and service revenue tied to an installed base. That creates recurring, predictable revenue streams and higher lifetime value per customer, supporting durable cash generation and margin stability over months.
Read all positive factors
Boule Diagnostics AB (BOUL) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr124.27M
Dividend YieldN/A
Average Volume (3M)39.59K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth-8.65%
EPS Growth97.54%
CountrySE
Employees200
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.21
Shares Outstanding38,833,103
10 Day Avg. Volume77,284
30 Day Avg. Volume39,585
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)1.11
Price to Sales (P/S)0.38
P/FCF Ratio-69.10
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)0.82
Revenue Forecast (FY)kr499.00M
Boule Diagnostics AB Business Overview & Revenue Model
Company Description
Boule Diagnostics AB (publ) operates as a diagnostic company specializing in the development, manufacturing, and commercialization of instruments and consumables designed for blood analysis. Its comprehensive product portfolio for human diagnostic...
How the Company Makes Money
Boule Diagnostics makes money primarily by selling hematology diagnostic instruments (capital equipment) and by generating recurring revenue from reagents and other consumables used with its analyzers. Instrument sales typically provide upfront re...
Boule Diagnostics AB Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
40
Negative
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 478.40M | 489.70M | 558.60M | 571.33M | 548.09M | 463.34M |
| Gross Profit | 202.40M | 213.80M | 252.40M | 249.71M | 227.91M | 198.63M |
| EBITDA | 31.20M | 23.12M | -255.90M | 65.98M | 57.84M | 55.69M |
| Net Income | -7.80M | -3.80M | -223.30M | 24.98M | 12.73M | 23.27M |
Balance Sheet | ||||||
| Total Assets | 468.80M | 469.60M | 590.20M | 755.11M | 759.96M | 572.03M |
| Cash, Cash Equivalents and Short-Term Investments | 18.50M | 19.60M | 22.70M | 37.28M | 96.90M | 38.18M |
| Total Debt | 222.00M | 223.76M | 195.00M | 166.17M | 189.97M | 155.44M |
| Total Liabilities | 297.30M | 301.90M | 320.60M | 280.01M | 297.46M | 276.30M |
| Stockholders Equity | 171.50M | 167.60M | 269.60M | 475.10M | 462.50M | 295.74M |
Cash Flow | ||||||
| Free Cash Flow | 16.40M | -4.13M | -39.30M | -31.30M | -86.31M | -13.09M |
| Operating Cash Flow | 20.30M | 829.00K | 46.60M | 51.38M | -11.35M | 43.28M |
| Investing Cash Flow | -5.40M | -5.00M | -85.90M | -82.71M | -74.96M | -56.37M |
| Financing Cash Flow | -15.10M | 3.30M | 24.40M | -25.51M | 140.55M | 15.75M |
Boule Diagnostics AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
Boule Diagnostics AB Corporate Events
Boule Diagnostics Names Johan Folkunger as New CEO to Lead Next Growth Phase
Jun 18, 2026
Boule Diagnostics has appointed Johan Folkunger as its new chief executive officer, effective 22 June 2026, succeeding interim CEO Simonetta Tumbiolo. Folkunger brings extensive international leadership experience from healthcare and medtech, incl...
Boule Diagnostics Names Simonetta Tumbiolo Interim CEO as Nielsen Steps Down
May 29, 2026
Boule Diagnostics has appointed Chief Commercial Officer Diagnostic Simonetta Tumbiolo as interim chief executive officer, effective 1 June 2026, following the previously announced departure of CEO Torben Nielsen. The board highlighted Tumbiolo...
Boule Diagnostics AGM Retains Earnings, Renews Board Mandates
May 13, 2026
Boule Diagnostics’ 2026 annual general meeting approved the 2025 financial statements, decided to retain earnings with no dividend, and granted discharge from liability to the board and CEO. The meeting reaffirmed the existing board structur...
Boule Diagnostics Returns to Organic Growth but Margins Hit as Currency and One-Off Costs Bite
Apr 28, 2026
Boule Diagnostics reported a mixed start to 2026, with net sales down 10% to SEK 101.6 million due to adverse currency effects, even as organic growth returned at 3% and demand strengthened in key product areas, notably a near doubling of 5-part s...
Boule Diagnostics Schedules Teams Presentation for Q1 2026 Interim Report
Apr 27, 2026
Boule Diagnostics AB will publish its interim report for the first quarter of 2026 on April 28 and has scheduled an online presentation for media and investors. The CEO and CFO will present and discuss the results in English via a Teams Live Event...
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.