Hexicon AB (SE:HEXI)
:HEXI
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Hexicon AB
(HEXI)
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Rating:41Neutral
Price Target:
kr0.17
▲(27.69% Upside)
Action:Reiterated
Date:06/17/26
The score is primarily pressured by very weak financial performance—large ongoing losses, negative equity, high leverage versus assets, and continued cash burn—indicating elevated funding and execution risk. Technicals add a mild negative tilt due to below-short-term moving averages and negative MACD, while valuation offers limited offset because the company is loss-making and has no dividend data.
Positive Factors
Specialized niche
Specialization in floating offshore wind positions Hexicon in a high-growth segment of renewables where fixed-bottom solutions are limited. This niche expertise supports durable competitive differentiation, technical IP accumulation, and stronger partner interest for project farm-downs and joint development over multi-year cycles.
Negative Factors
Severely strained balance sheet
Negative equity and debt materially exceeding assets indicate high refinancing and solvency risk. This structural leverage constraint reduces financial flexibility, increases cost of capital, and could force dilutive financings or asset sales, impairing long-term strategy execution and partner confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized niche
Specialization in floating offshore wind positions Hexicon in a high-growth segment of renewables where fixed-bottom solutions are limited. This niche expertise supports durable competitive differentiation, technical IP accumulation, and stronger partner interest for project farm-downs and joint development over multi-year cycles.
Read all positive factors
Hexicon AB (HEXI) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr59.66M
Dividend YieldN/A
Average Volume (3M)336.99K
Price to Earnings (P/E)―
Beta (1Y)0.33
Revenue Growth467.33%
EPS Growth-40.14%
CountrySE
Employees27
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.95
Shares Outstanding363,802,670
10 Day Avg. Volume187,825
30 Day Avg. Volume336,989
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.07
Price to Sales (P/S)2.37
P/FCF Ratio-0.82
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)1.22
Revenue Forecast (FY)kr656.18M
Hexicon AB Business Overview & Revenue Model
Company Description
Hexicon AB (publ) specializes in the design, manufacturing, sales, and operation of offshore wave and wind energy systems. The company is particularly known for developing, constructing, and managing floating offshore wind farms. It innovates with...
How the Company Makes Money
Hexicon primarily makes money through offshore wind project development rather than operating a large fleet of producing wind farms. Key revenue streams typically include: (1) Development-stage value creation and monetization: progressing offshore...
Hexicon AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
7
Very Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 85.10M | 19.20M | 9.80M | 5.70M | 11.58M | 23.11M |
| Gross Profit | -97.00M | -184.30M | -80.72M | -15.50M | 12.27M | 23.02M |
| EBITDA | -14.20M | -43.50M | -58.80M | -77.30M | -132.74M | -44.16M |
| Net Income | -347.20M | -327.10M | -258.20M | -187.33M | -170.34M | -50.86M |
Balance Sheet | ||||||
| Total Assets | 428.50M | 441.20M | 599.20M | 501.64M | 451.58M | 432.18M |
| Cash, Cash Equivalents and Short-Term Investments | 5.90M | 20.30M | 258.24M | 256.89M | 86.64M | 289.59M |
| Total Debt | 999.50M | 996.30M | 753.80M | 387.70M | 80.68M | 1.91M |
| Total Liabilities | 1.11B | 1.07B | 884.20M | 500.43M | 252.20M | 109.33M |
| Stockholders Equity | -680.70M | -631.30M | -284.20M | 1.87M | 202.84M | 322.76M |
Cash Flow | ||||||
| Free Cash Flow | -36.50M | -55.37M | -61.30M | -187.20M | -178.06M | -94.33M |
| Operating Cash Flow | -34.20M | -34.70M | -45.10M | -158.93M | -95.11M | -52.89M |
| Investing Cash Flow | -7.70M | -10.50M | -152.00M | -110.47M | -188.71M | -47.97M |
| Financing Cash Flow | 42.50M | 42.60M | 98.20M | 304.09M | 80.77M | 283.13M |
Hexicon AB Technical Analysis
Negative
0.13
Price Trends
0.18
Negative
0.16
Negative
0.17
Negative
Market Momentum
-0.01
Positive
43.87
Neutral
59.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HEXI, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.18, and below the 200-day MA of 0.17, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 43.87 is Neutral, neither overbought nor oversold. The STOCH value of 59.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HEXI.
Hexicon AB Peers Comparison
UnderperformOutperform
Sector (63)
SE:HEXI
Hexicon AB
0.16
-0.02
-12.77%
SE:ELTEL
Eltel AB
13.80
4.62
50.33%
SE:EOLU.B
Eolus Vind AB Class B
39.70
-9.42
-19.18%
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.