Desenio Group AB (DSNO) AI Stock Analysis

• Market Cap: kr60.88M
• Dividend Yield: N/A
• Average Volume (3M): 853.88K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.29
• Revenue Growth: -10.50%
• EPS Growth: 99.53%
• Country: SE
• Employees: 105
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): >-0.01
• Shares Outstanding: 981,857,400
• 10 Day Avg. Volume: 505,434
• 30 Day Avg. Volume: 853,884
• PEG Ratio: 0.03
• Price to Book (P/B): -0.76
• Price to Sales (P/S): 0.06
• P/FCF Ratio: -2.96
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: kr0.07 ▼(-1.43% Downside)

Desenio Group AB's overall stock score is primarily impacted by its financial performance and valuation concerns. The company shows revenue and cash flow growth, but profitability and financial stability are significant risks. Technical analysis indicates bearish trends, further weighing down the score. The lack of earnings call and corporate events data means these factors do not influence the score.

Positive Factors

High gross profit margin

An 84.99% gross margin signals durable unit-level economics and pricing power in Desenio’s product mix. High COGS efficiency gives room to invest in marketing and customer experience while still achieving profitability if operating expenses are brought under control over the medium term.

Improving free cash flow

Very strong free cash flow growth indicates an improving ability to generate cash from operations, which can fund working capital, de-lever the balance sheet, or finance growth initiatives. Sustained FCF improvement materially enhances financial flexibility and reduces refinancing risk.

Scalable e‑commerce model & partnerships

A pure e‑commerce model with partnerships with artists supports low fixed costs, wide assortment and rapid assortment scaling. Structural online advantages (lower store capex, direct customer data, repeat purchase potential) support durable margin and growth if customer acquisition remains efficient.

Negative Factors

High leverage and negative ROE

Material leverage and a deeply negative ROE indicate the company is destroying shareholder capital and is sensitive to interest costs. Over the medium term this constrains strategic optionality, increases refinancing risk and can force austerity measures that hinder growth unless the capital structure is repaired.

Negative net profitability

Despite high gross margins, a -34% net margin shows operating costs, marketing or overheads overwhelm profits. Sustained net losses limit reinvestment from earnings, increase reliance on external financing, and imply the business needs structural cost control to convert top‑line into lasting profitability.

Weak cash conversion efficiency

Only ~27% conversion of net income into operating cash flow suggests working capital or accruals pressure and potential earnings quality issues. Even with rising FCF, low conversion rates raise doubts about the sustainability of cash generation needed to service debt and fund growth without external capital.

Desenio Group AB Business Overview & Revenue Model

Company Description

Desenio Group AB (publ), an online-based direct-to-consumer company, provides affordable wall art in Europe and North America. It offers approximately 9,000 designs of posters and prints, as well as wall calendars, frames and accessories, mat boards, picture ledges, art clips, phone covers, and tote bags through 44 websites in 35 countries. The company was founded in 2010 and is based in Stockholm, Sweden.

How the Company Makes Money

Desenio Group AB generates revenue primarily through the sale of its art products via its e-commerce platform. The company’s key revenue streams include direct sales of wall art, prints, and associated home decor items. Desenio also leverages partnerships with artists and designers to expand its product offerings and appeal to broader market segments. Additionally, the company may benefit from repeat purchases and customer loyalty through targeted marketing strategies and seasonal promotions. E-commerce operations allow for lower overhead costs compared to traditional retail, enhancing profitability.

Desenio Group AB Financial Statement Overview

Summary

Desenio Group AB is experiencing growth in revenue and cash flow, but profitability and financial stability are areas of concern. The company faces challenges with high leverage and negative returns on equity, which could pose risks if not addressed. While there are positive signs in cash flow improvements, the overall financial health requires strategic adjustments to enhance profitability and reduce financial risk.

Income Statement

Desenio Group AB shows a mixed performance in its income statement. The company has a strong gross profit margin of 84.99% in TTM, indicating efficient cost management. However, the net profit margin is negative at -34.14%, reflecting significant losses. The revenue growth rate of 17.36% in TTM is a positive sign, but the negative EBIT and EBITDA margins suggest operational inefficiencies. Overall, while revenue is growing, profitability remains a concern.

Balance Sheet

The balance sheet of Desenio Group AB reveals financial instability. The debt-to-equity ratio is high at 1.12 in TTM, indicating significant leverage. The return on equity is negative at -84.08%, highlighting poor returns for shareholders. The equity ratio is low, suggesting a reliance on debt financing. These factors indicate potential financial risk and a need for improved capital structure management.

Cash Flow

Desenio Group AB's cash flow statement shows some positive trends. The free cash flow growth rate is impressive at 529.41% in TTM, indicating improved cash generation. The operating cash flow to net income ratio is 0.27, suggesting moderate cash flow efficiency. However, the free cash flow to net income ratio is close to 1, indicating that most of the net income is converted into free cash flow. While cash flow generation is improving, the overall financial health needs attention.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.91B	856.20M	967.20M	964.90M	1.23B	1.29B
Gross Profit	1.62B	728.60M	812.10M	810.50M	1.01B	770.00M
EBITDA	-319.80M	117.90M	-108.70M	118.00M	191.50M	278.40M
Net Income	-553.20M	-21.90M	-284.20M	-22.40M	57.20M	-100.00M
Balance Sheet
Total Assets	966.20M	1.29B	1.34B	1.65B	1.70B	2.00B
Cash, Cash Equivalents and Short-Term Investments	100.00M	115.60M	149.90M	155.70M	162.20M	647.40M
Total Debt	402.80M	1.12B	65.70M	1.15B	1.14B	1.07B
Total Liabilities	606.00M	1.36B	1.38B	1.41B	1.44B	1.91B
Stockholders Equity	360.10M	-67.60M	-46.20M	238.60M	260.70M	89.70M
Cash Flow
Free Cash Flow	128.40M	-17.40M	41.50M	7.40M	-40.30M	246.30M
Operating Cash Flow	129.40M	-16.80M	43.60M	25.30M	26.30M	253.60M
Investing Cash Flow	2.60M	1.30M	-1.80M	-36.60M	-67.60M	-587.50M
Financing Cash Flow	-41.20M	-18.90M	-47.60M	-13.20M	-443.80M	863.20M

Desenio Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:DSNO, the sentiment is Negative. The current price of 0.07 is above the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.07, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.87 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:DSNO.

Desenio Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CDON	58 Neutral	kr737.86M	-9.03	―	―	―	―
BBROOM	56 Neutral	kr77.73M	―	―	―	―	―
OBAB	56 Neutral	kr460.12M	-18.97	―	―	27.27%	-1165.24%
REFINE	44 Neutral	kr26.05M	-0.10	―	―	-41.68%	65.38%
DSNO	42 Neutral	kr60.88M	-6.74	-197.48%	―	-10.50%	99.53%

Desenio Group AB Corporate Events

Desenio Group Appoints Erik Flinck as Permanent CEO

Desenio Group AB has appointed Erik Flinck as its permanent CEO, following his tenure as Acting CEO since May 2025. Flinck, known for his expertise in digital businesses, will focus on driving the company’s international growth and operational leadership. Under his leadership, Desenio has refined its strategy, built new teams, and launched a next-generation tech platform to support its expansion and strengthen its market position.

Desenio Group AB Reports Strategic Focus on Profitability and Market Expansion in Q3 2025

Desenio Group AB’s Q3 2025 interim report highlights its strategic focus on profitability and market expansion, particularly in North America. The company emphasizes its agile organizational structure to adapt to market conditions, ensuring cash flow and profitability while exploring new market opportunities. This approach is expected to strengthen its industry positioning and benefit stakeholders by leveraging its market-leading product assortment and innovative business model.

Desenio Group Appoints Carl Caap as Interim CFO

Desenio Group AB has appointed Carl Caap as the interim Chief Financial Officer, effective October 20, 2025. Caap brings extensive financial leadership experience from previous roles at PS of Sweden AB, Tiger of Sweden, and other companies. This change in leadership comes as Johan Roslund departs from the CFO position, aligning with prior communications. The appointment of Caap is expected to support Desenio’s strategic growth and operational efficiency as it continues to expand its market presence.