C-Rad AB Class B (CRAD.B) AI Stock Analysis

• Market Cap: €1.02B
• Dividend Yield: N/A
• Average Volume (3M): 49.25K
• Price to Earnings (P/E): 39.7
• Beta (1Y): 0.54
• Revenue Growth: -10.34%
• EPS Growth: -59.69%
• Country: SE
• Employees: 99
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.12
• Shares Outstanding: 32,904,050
• 10 Day Avg. Volume: 122,574
• 30 Day Avg. Volume: 49,250
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: €34.83
• Price Target Upside: 18.28% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: kr35.00 ▲(18.85% Upside)

C-Rad AB Class B's overall score is primarily influenced by its stable financial position, despite recent declines in revenue and profit margins. The technical analysis indicates a bearish trend, and the high P/E ratio suggests overvaluation. These factors combined result in a moderate overall stock score.

C-Rad AB Class B Business Overview & Revenue Model

Company Description

C-Rad AB (publ), together with its subsidiaries, develops, manufactures, and sells systems with applications in radiation therapy for the treatment of cancer worldwide. The company operates through two segments, Positioning and Imaging. Its products include Sentinel 4D CT, a laser-based optical surface scanning system; Catalyst, a 4D surface image guided radiation therapy (SIGRT) solution; Catalyst HD, an SIGRT solution on stereotactic radiation therapy for online patient tracking before and during treatment delivery; Catalyst+, an SIGRT solution for high precision patient positioning, intra-fraction motion management, and respiratory gating; and Catalyst+ HD, a solution for high precision patient positioning, intra-fraction motion management, and respiratory gating for conventional and stereotactic treatment delivery. The company's products also comprise Catalyst Tomo, an enhanced positioning solution for tomotherapy; Catalyst PT, a real-time tracking solution for particle therapy; Cyrpa laser positioning products; cAccessory, which automates the registration and validation of treatment accessories; and cPatient that automates patient identity validation without the need for contact between patients and devices. In addition, it offers installation, application training, and aftersales services. C-Rad AB (publ) was founded in 2004 and is headquartered in Uppsala, Sweden.

How the Company Makes Money

C-Rad AB generates revenue primarily through the sale of its medical technology products and services to healthcare institutions and clinics worldwide. The company's key revenue streams include product sales, service contracts, and software licenses. C-Rad's flagship products, such as the Catalyst and Sentinel systems, are integral to its revenue model, providing advanced solutions for patient positioning and motion management in radiation therapy. Additionally, C-Rad benefits from partnerships and collaborations with leading radiation therapy equipment manufacturers, which help extend its market reach and enhance product integration. The company also offers training and support services, contributing to its earnings by ensuring customer satisfaction and fostering long-term client relationships.

C-Rad AB Class B Financial Statement Overview

Summary

C-Rad AB Class B has a stable financial position with a strong balance sheet and improving cash flow generation. However, recent declines in revenue and profit margins raise concerns about future growth and profitability.

Income Statement

C-Rad AB Class B shows a mixed performance in its income statement. The company has a strong gross profit margin, indicating efficient production and cost management. However, the net profit margin has declined in the TTM period, reflecting reduced profitability. Revenue growth has turned negative in the TTM, which is a concern, although previous years showed positive growth. The EBIT and EBITDA margins have also decreased, suggesting pressure on operating efficiency.

Balance Sheet

The balance sheet of C-Rad AB Class B is robust, with a low debt-to-equity ratio indicating minimal leverage and financial risk. The return on equity has decreased in the TTM, but it remains healthy, showing the company's ability to generate returns on shareholders' investments. The equity ratio is strong, reflecting a solid financial structure with a high proportion of equity financing.

Cash Flow

Cash flow analysis reveals a positive trajectory in free cash flow growth, indicating improved cash generation capabilities. The operating cash flow to net income ratio is moderate, suggesting that earnings are well-supported by cash flows. The free cash flow to net income ratio is over 1 in the TTM, highlighting strong cash conversion from profits. However, fluctuations in cash flow metrics over the years suggest potential volatility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	445.60M	469.00M	424.62M	301.33M	261.15M	221.63M
Gross Profit	251.40M	323.00M	287.21M	205.30M	170.23M	136.89M
EBITDA	71.80M	83.91M	53.10M	27.51M	45.71M	26.15M
Net Income	25.80M	56.45M	35.53M	7.48M	25.10M	14.37M
Balance Sheet
Total Assets	478.80M	489.36M	405.54M	339.17M	306.71M	270.52M
Cash, Cash Equivalents and Short-Term Investments	158.10M	150.90M	129.36M	121.90M	122.42M	108.05M
Total Debt	10.00M	9.00M	1.75M	4.08M	6.37M	7.44M
Total Liabilities	137.50M	164.37M	134.36M	96.63M	75.62M	70.73M
Stockholders Equity	341.30M	325.00M	271.18M	242.54M	231.09M	199.79M
Cash Flow
Free Cash Flow	44.71M	29.21M	16.45M	-1.53M	12.37M	11.66M
Operating Cash Flow	42.18M	30.08M	33.38M	9.69M	18.17M	18.45M
Investing Cash Flow	-11.70M	-6.67M	-16.93M	-11.22M	-5.80M	-6.78M
Financing Cash Flow	-6.50M	-7.04M	-5.69M	-2.38M	1.04M	68.01M

C-Rad AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 29.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CRAD.B, the sentiment is Negative. The current price of 29.45 is below the 20-day moving average (MA) of 32.85, below the 50-day MA of 33.86, and below the 200-day MA of 31.89, indicating a bearish trend. The MACD of -0.61 indicates Positive momentum. The RSI at 37.59 is Neutral, neither overbought nor oversold. The STOCH value of 19.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CRAD.B.

C-Rad AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRAD.B	62 Neutral	€1.02B	39.65	7.87%	―	-10.34%	-59.69%
PAX	62 Neutral	1.73B	155.94	2.01%	―	14.28%	-68.33%
SEZI	51 Neutral	974.73M	-6.42	-34.03%	―	71.41%	17.26%
SEDANA	48 Neutral	1.36B	-26.76	-5.53%	―	16.27%	-22.61%
BACTI.B	45 Neutral	869.09M	-47.15	-5.96%	―	11.60%	75.76%
INTEG.B	43 Neutral	469.36M	-14.38	-18.68%	―	-5.63%	-1373.99%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

C-Rad AB Class B Corporate Events

C-RAD and iRT Systems Partner to Enhance Radiotherapy Safety

C-RAD AB and iRT Systems GmbH have announced a partnership to enhance patient safety in radiotherapy by combining C-RAD’s surface-guided radiotherapy technology with iRT’s real-time beam verification system. This collaboration aims to provide clinical teams with advanced tools for automated workflows, quality assurance, and improved treatment fidelity, ultimately making radiation therapy safer and more efficient.

C-Rad AB Sees Increased Order Intake Amid Revenue Challenges

C-Rad AB reported a 6% increase in order intake for the second quarter of 2025, driven by major contracts in EMEA and the USA, despite a challenging macroeconomic environment. However, revenues decreased by 19% due to a strong comparison quarter in China, impacting overall profitability. The company is focusing on expanding its service business, operational efficiency, and product innovation to achieve its medium-term financial targets of organic growth and improved operating margins.

C-RAD Secures Major Service Contract with U.S. Healthcare Provider

C-RAD has secured an 8 MSEK service contract with a major healthcare provider on the U.S. East Coast, marking a significant step in enhancing the provider’s radiation oncology program. This agreement, which builds on a longstanding relationship, is part of C-RAD’s strategy to expand its presence in the U.S. market and underscores its commitment to improving cancer treatment outcomes through innovative, patient-centered technologies.

C-RAD to Present Q2 2025 Interim Report

C-RAD AB announced the release of its interim report for the second quarter of 2025, scheduled for July 18. The report will be presented by CEO Cecilia de Leeuw and CFO Linda Frölén, with opportunities for stakeholders to engage via webcast or teleconference. This presentation aims to provide insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and stakeholder confidence.

C-RAD Expands in US with Major Texas Cancer Center Order

C-RAD has secured a 10 MSEK contract to supply a Texas cancer center with its Surface Guided Radiation Therapy solutions, including Catalyst+ HD™ and Sentinel™ 4DCT. This order marks a strategic expansion for C-RAD in the US market, reinforcing its commitment to precision and safety in radiation therapy and strengthening its partnership with a leading healthcare institution.

C-RAD Expands in Germany with Strategic 9 MSEK Agreement

C-RAD has signed a strategic agreement with a leading healthcare provider in the Stuttgart region of Germany, valued at 9 MSEK. This contract includes the delivery of C-RAD’s advanced SGRT solutions, such as the Sentinel™ 4DCT and Catalyst+ HD™ systems, along with a long-term service agreement. The partnership marks a significant step in C-RAD’s expansion in Germany, enhancing their presence in the hospital caregiver segment and highlighting the growing importance of SGRT in modern radiation therapy.