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CDON AB
(CDON)
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Rating:49Neutral
Price Target:
kr54.00
▼(-1.46% Downside)
Action:Reiterated
Date:07/16/26
The score is held back primarily by ongoing operating losses and weak technical momentum (below major moving averages with negative MACD). Offsetting these, the company shows improving revenue and cash flow and maintains a conservative balance sheet with no debt, but profitability and valuation support remain limited.
Positive Factors
High gross margin
An unusually high TTM gross margin (~82.5%) reflects marketplace economics and strong product/service margins. This durable structural advantage provides room to invest in customer acquisition, tech and merchant tools while absorbing operating costs during scaling.
Negative Factors
Persistent operating losses
Despite revenue gains, the company reports sustained negative operating and net margins. Ongoing losses erode capital and constrain long-term reinvestment; without structural margin improvement, profitability risk remains over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
An unusually high TTM gross margin (~82.5%) reflects marketplace economics and strong product/service margins. This durable structural advantage provides room to invest in customer acquisition, tech and merchant tools while absorbing operating costs during scaling.
Read all positive factors
CDON AB (CDON) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr659.82M
Dividend YieldN/A
Average Volume (3M)3.41K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth7.99%
EPS Growth33.84%
CountrySE
Employees74
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-5.71
Shares Outstanding11,259,717
10 Day Avg. Volume1,375
30 Day Avg. Volume3,409
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.23
Price to Sales (P/S)1.55
P/FCF Ratio-116.70
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)-4.44
Revenue Forecast (FY)kr467.84M
CDON AB Business Overview & Revenue Model
Company Description
CDON AB operates a major digital marketplace throughout the Nordic region. This platform empowers consumers to effortlessly purchase and compare prices for millions of products offered by a wide array of online retailers across the Nordics. Its ex...
How the Company Makes Money
CDON primarily makes money through its marketplace model by monetizing transactions and services provided to third-party merchants. Key revenue streams typically include: (1) commissions/fees on gross merchandise value (GMV), where CDON takes a pe...
CDON AB Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
74
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 457.00M | 444.00M | 435.20M | 468.70M | 461.20M | 542.20M |
| Gross Profit | 381.90M | 365.60M | 333.00M | 323.40M | 227.10M | 226.90M |
| EBITDA | -12.70M | 10.70M | -26.90M | -7.30M | -146.20M | -60.70M |
| Net Income | -64.90M | -56.80M | -110.90M | -68.60M | -149.90M | -62.60M |
Balance Sheet | ||||||
| Total Assets | 744.90M | 802.40M | 864.60M | 954.30M | 237.70M | 371.00M |
| Cash, Cash Equivalents and Short-Term Investments | 140.70M | 149.60M | 144.90M | 153.80M | 123.10M | 202.90M |
| Total Debt | 0.00 | 0.00 | 7.10M | 6.40M | 0.00 | 0.00 |
| Total Liabilities | 235.10M | 241.60M | 288.70M | 267.20M | 193.20M | 174.20M |
| Stockholders Equity | 509.80M | 560.80M | 576.00M | 687.10M | 44.50M | 189.90M |
Cash Flow | ||||||
| Free Cash Flow | 31.60M | -5.90M | -8.80M | -1.00M | -78.10M | -127.00M |
| Operating Cash Flow | 43.70M | -5.80M | 15.20M | -700.00K | -56.00M | -105.40M |
| Investing Cash Flow | -26.60M | -24.90M | -24.00M | 23.80M | -23.40M | -52.90M |
| Financing Cash Flow | 41.90M | 35.40M | 0.00 | 7.50M | 100.00K | 188.40M |
CDON AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | kr1.07B | 12.32 | ― | 4.49% | 3.43% | 69.60% | |
61 Neutral | kr209.87M | -11.54 | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | kr659.82M | -10.26 | ― | ― | 7.99% | 33.84% | |
49 Neutral | kr295.61M | -21.32 | ― | ― | 31.24% | -39.12% |
* General Sector Average
SE:CDON
CDON AB
54.60
-15.00
-21.55%
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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.