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Scandinavian Real Heart AB
(HEART)
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Rating:52Neutral
Price Target:
kr22.50
▼(-12.79% Downside)
Action:Reiterated
Date:05/29/26
The score is held down primarily by very weak fundamentals (minimal revenue, persistent losses, and ongoing cash burn), only partly offset by a relatively low-leverage balance sheet. Technicals are a clear positive with the price above major moving averages and supportive momentum, while valuation remains pressured by negative earnings and no dividend data.
Positive Factors
Proprietary Product Focus
The company is focused on a single, high-barrier product: the implantable Realheart TAH. A differentiated total artificial heart targets a structural, high-need market (advanced heart failure) where successful clinical and regulatory progress can create durable commercial barriers and specialized clinical adoption.
Negative Factors
Pre-revenue Business
The company remains effectively pre-revenue with negligible commercial sales history, meaning value depends entirely on future clinical/regulatory success and commercialization execution. This leaves long-term cash generation uncertain and increases reliance on external financing to reach market.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary Product Focus
The company is focused on a single, high-barrier product: the implantable Realheart TAH. A differentiated total artificial heart targets a structural, high-need market (advanced heart failure) where successful clinical and regulatory progress can create durable commercial barriers and specialized clinical adoption.
Read all positive factors
Scandinavian Real Heart AB (HEART) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr169.11M
Dividend YieldN/A
Average Volume (3M)7.92K
Price to Earnings (P/E)―
Beta (1Y)0.04
Revenue GrowthN/A
EPS GrowthN/A
CountrySE
Employees13
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-16.57
Shares Outstanding8,497,797
10 Day Avg. Volume3,221
30 Day Avg. Volume7,918
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.11
Price to Sales (P/S)0.00
P/FCF Ratio-4.20
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)N/A
Revenue Forecast (FY)kr42.00M
Scandinavian Real Heart AB Business Overview & Revenue Model
Company Description
Scandinavian Real Heart AB (Publ), a Swedish enterprise established in 2007, specializes in the innovation and production of artificial heart devices. The company's core focus is the Realheart TAH, a total artificial heart engineered specifically ...
How the Company Makes Money
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Scandinavian Real Heart AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
56
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 10.00K | 0.00 |
| Gross Profit | 28.33M | -245.60K | -164.70K | -50.22M | 12.29M | 7.20M |
| EBITDA | -14.02M | -15.09M | -33.54M | -67.25M | -13.73M | -10.09M |
| Net Income | -38.87M | -35.50M | -34.35M | -67.98M | -13.99M | -10.48M |
Balance Sheet | ||||||
| Total Assets | 87.94M | 72.69M | 83.28M | 102.64M | 119.82M | 117.82M |
| Cash, Cash Equivalents and Short-Term Investments | 27.94M | 16.57M | 23.72M | 43.30M | 11.26M | 42.67M |
| Total Debt | 5.40M | 4.46M | 6.35M | 8.25M | 2.17M | 2.80M |
| Total Liabilities | 13.59M | 10.20M | 15.94M | 20.60M | 22.17M | 6.53M |
| Stockholders Equity | 74.35M | 62.49M | 67.34M | 82.04M | 97.65M | 111.29M |
Cash Flow | ||||||
| Free Cash Flow | -39.30M | -16.53M | -38.25M | -26.82M | -31.14M | -29.24M |
| Operating Cash Flow | -12.62M | -15.66M | -12.99M | -25.05M | -7.38M | -9.65M |
| Investing Cash Flow | -25.71M | -26.11M | -24.28M | -1.77M | -23.76M | -19.59M |
| Financing Cash Flow | 43.44M | 34.62M | 17.69M | 58.87M | -276.28K | 49.46M |
Scandinavian Real Heart AB Technical Analysis
Negative
25.80
Price Trends
20.27
Negative
17.17
Positive
17.09
Positive
Market Momentum
-0.10
Positive
38.31
Neutral
24.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HEART, the sentiment is Negative. The current price of 25.8 is above the 20-day moving average (MA) of 21.90, above the 50-day MA of 20.27, and above the 200-day MA of 17.09, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 38.31 is Neutral, neither overbought nor oversold. The STOCH value of 24.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HEART.
Scandinavian Real Heart AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | kr169.11M | -3.02 | ― | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr52.20M | -0.80 | 437.24% | ― | 20.10% | 84.62% | |
46 Neutral | kr48.46M | -14.10 | ― | ― | -12.32% | -1156.14% | |
44 Neutral | kr29.54M | -0.69 | -60.56% | ― | 27.31% | 6.31% | |
41 Neutral | kr28.47M | -0.27 | -50.21% | ― | ― | -85.81% |
* Healthcare Sector Average
SE:HEART
Scandinavian Real Heart AB
19.90
6.20
45.24%
SE:QLIFE
Qlife Holding AB
1.81
-1.68
-48.24%
SE:SPEC
SpectraCure AB
0.05
-0.13
-72.78%
SE:LXB
Luxbright AB
0.11
-0.55
-82.83%
SE:SDOS
ScandiDos AB
0.85
-0.53
-38.41%
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.