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Crunchfish AB (SE:CFISH)
:CFISH
Sweden Market
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Crunchfish AB (CFISH) AI Stock Analysis

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SE:CFISH

Crunchfish AB

(CFISH)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
kr3.00
▲(3.45% Upside)
Action:Reiterated
Date:05/23/26
The score is primarily held down by persistent operating losses and ongoing negative free cash flow, despite a low-debt balance sheet. Technically, the stock shows weak near-term trend (below 20/50-day averages with slightly negative MACD), while valuation is difficult to judge given negative earnings and no dividend yield data.
Positive Factors
Low leverage / strong balance sheet
Very low debt and a sizable equity base provide durable financial flexibility: the company can fund operations or strategic initiatives via equity or internal resources, faces limited refinancing risk, and has capacity to pursue partnerships or R&D without near-term debt pressure.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flows indicate the business consumes cash faster than it generates it. Over months this erodes reserves or forces external financing, increasing dilution risk and constraining investment in sales, partnerships, or scaling efforts unless a clear path to positive cash flow is established.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Very low debt and a sizable equity base provide durable financial flexibility: the company can fund operations or strategic initiatives via equity or internal resources, faces limited refinancing risk, and has capacity to pursue partnerships or R&D without near-term debt pressure.
Read all positive factors

Crunchfish AB (CFISH) vs. iShares MSCI Sweden ETF (EWD)

Crunchfish AB Business Overview & Revenue Model

Company Description
Crunchfish AB (publ) develops and offers technology solutions. The company develops Digital Cash online, which provides payment availability and load balancing to banks, mobile operators, and payment services; and Digital Cash offline that is inte...
How the Company Makes Money
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Crunchfish AB Financial Statement Overview

Summary
Income statement and cash flow are major weaknesses: very small TTM revenue (748k) with only modest growth (+5.5%), deeply negative profitability (EBIT about -20.7m; net income about -19.8m), and persistent cash burn (operating cash flow about -19.8m TTM; free cash flow about -20.3m). The balance sheet is a relative strength with very low leverage (debt-to-equity ~0.02), but continued losses (negative ROE ~-41% TTM) risk eroding equity over time.
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue748.17K709.25K2.93M987.83K6.19M3.96M
Gross Profit-12.92M-22.61M-7.61M-7.61M-1.99M-5.30M
EBITDA-19.36M-20.82M-20.85M-48.84M-23.79M-36.48M
Net Income-19.79M-20.23M-26.53M-49.30M-25.90M-40.90M
Balance Sheet
Total Assets51.17M55.81M54.97M61.52M66.49M64.19M
Cash, Cash Equivalents and Short-Term Investments4.71M11.66M17.28M30.73M29.29M32.76M
Total Debt701.99K754.50K957.49K1.42M383.49K560.58K
Total Liabilities6.14M6.28M7.80M9.25M7.72M8.35M
Stockholders Equity45.03M49.53M47.16M52.26M58.77M55.84M
Cash Flow
Free Cash Flow-20.27M0.00-34.75M-42.62M-30.47M-33.73M
Operating Cash Flow-19.81M-19.91M-22.04M-24.91M-16.85M-19.39M
Investing Cash Flow-7.88M-8.10M-12.71M-17.71M-13.62M-15.84M
Financing Cash Flow18.32M22.48M21.25M43.87M26.78M59.25M

Crunchfish AB Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.90
Price Trends
50DMA
2.98
Negative
100DMA
2.85
Negative
200DMA
3.01
Negative
Market Momentum
MACD
-0.07
Positive
RSI
41.81
Neutral
STOCH
39.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CFISH, the sentiment is Negative. The current price of 2.9 is below the 20-day moving average (MA) of 3.07, below the 50-day MA of 2.98, and below the 200-day MA of 3.01, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 41.81 is Neutral, neither overbought nor oversold. The STOCH value of 39.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CFISH.

Crunchfish AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
kr215.22M4,860.453.25%-27.56%-99.50%
58
Neutral
kr148.51M143.01-0.37%-11.84%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
52
Neutral
kr376.85M-7.60-128.85%25.55%
46
Neutral
kr232.02M-10.78-51.82%49.45%
42
Neutral
kr172.80M-3.24-81.87%-180.83%
38
Underperform
kr35.63M-1.88-7.31%2.48%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:CFISH
Crunchfish AB
2.84
0.06
2.35%
SE:TERRNT.B
Terranet AB Class B
0.15
0.06
61.70%
SE:SFTR
Safeture AB
3.86
-2.24
-36.72%
SE:CDMIL
Codemill AB
15.35
-2.60
-14.48%
SE:GREAT
Greater Than AB
8.70
-13.70
-61.16%
SE:RPLAN
Ranplan Group AB
0.46
-0.74
-61.50%
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.Date of analysis: May 23, 2026