C-Rad AB Class B (SE:CRAD.B)
:CRAD.B
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C-Rad AB Class B
(CRAD.B)
Select Model
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Rating:64Neutral
Price Target:
kr36.00
▲(12.85% Upside)
Action:Reiterated
Date:05/09/26
The score is supported by a conservative balance sheet and solid operating profitability, but is held back by declining TTM revenue, compressed net margins, and weaker/less consistent cash generation. Technicals show an uptrend, yet overbought momentum signals raise near-term risk, while valuation is moderate with no dividend support.
Positive Factors
Conservative balance sheet
Extremely low leverage (debt-to-equity ~0.05) gives C‑Rad financial flexibility and resilience. This reduces refinancing risk and preserves capacity to fund R&D, service expansions or absorb short-term demand swings, supporting stability over the next 2–6 months.
Negative Factors
Declining revenue trend
Trailing revenue contraction (-3.19% TTM and reported RevenueGrowth weakening) signals softening demand or lost share. Continued top-line decline erodes operating leverage, constrains reinvestment capacity and can pressure margins and growth initiatives over a 2–6 month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage (debt-to-equity ~0.05) gives C‑Rad financial flexibility and resilience. This reduces refinancing risk and preserves capacity to fund R&D, service expansions or absorb short-term demand swings, supporting stability over the next 2–6 months.
Read all positive factors
C-Rad AB Class B (CRAD.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.15B
Dividend YieldN/A
Average Volume (3M)58.03K
Price to Earnings (P/E)19.5
Beta (1Y)0.46
Revenue Growth-8.92%
EPS Growth-8.33%
CountrySE
Employees99
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.88
Shares Outstanding32,904,050
10 Day Avg. Volume15,927
30 Day Avg. Volume58,029
Financial Highlights & Ratios
PEG Ratio-1.27
Price to Book (P/B)3.12
Price to Sales (P/S)2.45
P/FCF Ratio21.52
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)1.41
Revenue Forecast (FY)kr454.74M
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...
How the Company Makes Money
C-Rad makes money primarily by selling its radiation therapy positioning and motion-management systems to healthcare providers (e.g., hospitals and radiotherapy clinics). Revenue is typically generated from (1) equipment/system sales (hardware and...
C-Rad AB Class B Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 427.90M | 441.90M | 469.00M | 424.62M | 301.33M | 261.15M |
| Gross Profit | 179.20M | 306.00M | 323.00M | 287.21M | 205.30M | 170.23M |
| EBITDA | 57.80M | 55.30M | 83.91M | 48.90M | 27.35M | 45.71M |
| Net Income | 29.70M | 10.50M | 56.45M | 35.53M | 7.48M | 25.10M |
Balance Sheet | ||||||
| Total Assets | 500.20M | 500.80M | 489.36M | 405.54M | 339.17M | 306.71M |
| Cash, Cash Equivalents and Short-Term Investments | 135.20M | 171.20M | 150.90M | 129.36M | 121.90M | 122.42M |
| Total Debt | 9.40M | 18.80M | 9.00M | 1.75M | 4.08M | 6.37M |
| Total Liabilities | 152.10M | 153.60M | 164.37M | 134.36M | 96.63M | 75.62M |
| Stockholders Equity | 348.10M | 347.20M | 325.00M | 271.18M | 242.54M | 231.09M |
Cash Flow | ||||||
| Free Cash Flow | 18.39M | 50.30M | 29.21M | 16.45M | -1.53M | 12.37M |
| Operating Cash Flow | 18.20M | 71.10M | 30.08M | 33.38M | 9.69M | 18.17M |
| Investing Cash Flow | -23.50M | -20.80M | -6.67M | -16.93M | -11.22M | -5.80M |
| Financing Cash Flow | -21.40M | -15.10M | -7.04M | -5.69M | -2.38M | 1.04M |
C-Rad AB Class B Technical Analysis
Neutral
31.90
Price Trends
27.12
Positive
29.61
Negative
31.41
Negative
Market Momentum
0.06
Negative
59.17
Neutral
77.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CRAD.B, the sentiment is Neutral. The current price of 31.9 is above the 20-day moving average (MA) of 26.31, above the 50-day MA of 27.12, and above the 200-day MA of 31.41, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 59.17 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:CRAD.B.
C-Rad AB Class B Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | kr1.15B | 19.50 | 6.93% | ― | -8.92% | -8.33% | |
56 Neutral | kr1.17B | -37.32 | -4.20% | ― | 23.85% | -135.36% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr595.75M | -25.75 | -2.52% | ― | -10.66% | 73.69% | |
49 Neutral | kr970.52M | -61.68 | -4.42% | ― | 4.66% | 27.83% | |
48 Neutral | kr698.82M | -7.33 | -36.55% | ― | 48.53% | 17.86% | |
48 Neutral | kr192.01M | -5.27 | -18.55% | ― | 3.85% | -70.92% |
* Healthcare Sector Average
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C-Rad AB Class B Corporate Events
C-RAD Launches Transformation Drive as Q1 Shows Strong Orders but Weaker Revenue
May 6, 2026
C-RAD reported a mixed first quarter of 2026, with order intake rising 19 percent to MSEK 115 while revenue fell 12 percent to MSEK 105 and organic growth slipped 4 percent. Profitability improved, as EBIT increased to MSEK 12 with a 12 percent ma...
C-RAD Targets Profitable Growth as Demand for Advanced Radiotherapy Solutions Rises
Apr 10, 2026
C-RAD AB, a leader in surface tracking technology for radiotherapy, focuses on products and services that enhance treatment accuracy, patient safety and clinical efficiency in cancer care. With a growing installed base in roughly 60 countries and ...
C-RAD’s New CEO Targets Sharper Execution After Profit Slump in 2025
Feb 12, 2026
C-RAD reported a weaker fourth quarter and full-year 2025, with order intake and revenue declining in the quarter and EBIT margin contracting, although gross margins remained strong and full-year order intake rose slightly. Earnings and earnings p...
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.
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