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

• Market Cap: kr881.32M
• Dividend Yield: N/A
• Average Volume (3M): 58.03K
• Price to Earnings (P/E): 103.1
• Beta (1Y): 0.46
• Revenue Growth: -5.80%
• EPS Growth: -65.99%
• Country: SE
• Employees: 99
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.20
• Shares Outstanding: 32,904,050
• 10 Day Avg. Volume: 15,927
• 30 Day Avg. Volume: 58,029
• PEG Ratio: -1.27
• Price to Book (P/B): 3.12
• Price to Sales (P/S): 2.45
• P/FCF Ratio: 15.22
• 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): 2.56
• Revenue Forecast (FY): kr507.67M

• Rating: 55 Neutral
• Price Target: kr26.00 ▼(-18.50% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held up by strong financial footing (very low leverage, solid gross margins) and supportive cash generation, but is weighed down by a sharp 2025 profitability decline, clearly bearish technical signals, and a demanding valuation (P/E ~90) without dividend support.

Positive Factors

Conservative balance sheet

C‑Rad's very low debt (debt/equity roughly 0.6%–5.4% historically) and rising equity provide durable financial flexibility. This conservative capital structure supports investment in installed base, R&D and service capacity, and cushions the business through demand cycles without forcing dilutive financing.

Negative Factors

Sharp 2025 profitability reset

A material drop in net margin to ~2.4% and lower EBIT margin in 2025 signals weakened operational leverage or higher operating costs. If persistent, this compresses the conversion of high gross margins into net profits, limiting internally funded growth and increasing reliance on operational fixes or structural shifts to restore profitability.

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 produc...

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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 produc...

How the Company Makes Money

C-Rad makes money mainly by selling its SGRT hardware systems and associated software to radiotherapy clinics and hospitals, and by earning recurring revenue from software licenses, service agreements, and maintenance/support contracts tied to ins...

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C-Rad makes money mainly by selling its SGRT hardware systems and associated software to radiotherapy clinics and hospitals, and by earning recurring revenue from software licenses, service agreements, and maintenance/support contracts tied to ins...

C-Rad AB Class B Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	441.90M	469.00M	424.62M	301.33M	261.15M
Gross Profit	306.00M	323.00M	287.21M	205.30M	170.23M
EBITDA	55.30M	83.91M	48.90M	27.35M	45.71M
Net Income	10.50M	56.45M	35.53M	7.48M	25.10M
Balance Sheet
Total Assets	500.80M	489.36M	405.54M	339.17M	306.71M
Cash, Cash Equivalents and Short-Term Investments	171.20M	150.90M	129.36M	121.90M	122.42M
Total Debt	18.80M	9.00M	1.75M	4.08M	6.37M
Total Liabilities	153.60M	164.37M	134.36M	96.63M	75.62M
Stockholders Equity	347.20M	325.00M	271.18M	242.54M	231.09M
Cash Flow
Free Cash Flow	71.10M	29.21M	16.45M	-1.53M	12.37M
Operating Cash Flow	71.10M	30.08M	33.38M	9.69M	18.17M
Investing Cash Flow	-20.80M	-6.67M	-16.93M	-11.22M	-5.80M
Financing Cash Flow	-15.10M	-7.04M	-5.69M	-2.38M	1.04M

C-Rad AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 31.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 31.9 is above the 20-day moving average (MA) of 25.88, above the 50-day MA of 27.77, and above the 200-day MA of 31.70, indicating a neutral trend. The MACD of -0.37 indicates Negative momentum. The RSI at 45.91 is Neutral, neither overbought nor oversold. The STOCH value of 57.01 is Neutral, 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
PAX	56 Neutral	kr1.07B	-74.03	-4.20%	―	21.71%	-80.37%
CRAD.B	55 Neutral	kr881.32M	103.06	6.93%	―	-5.80%	-65.99%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SEZI	49 Neutral	kr664.23M	-5.78	-36.55%	―	62.24%	21.16%
BACTI.B	46 Neutral	kr586.99M	13.94	-2.52%	―	-8.10%	62.08%
SEDANA	44 Neutral	kr907.94M	-17.24	-4.42%	―	13.48%	28.98%
INTEG.B	42 Neutral	kr191.74M	-5.27	-18.55%	―	0.62%	-82.70%

C-Rad AB Class B Corporate Events