Mantex AB (MANTEX) AI Stock Analysis

• Market Cap: kr20.72M
• Dividend Yield: N/A
• Average Volume (3M): 3.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.18
• Revenue Growth: -44.22%
• EPS Growth: 50.60%
• Country: SE
• Employees: 10
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): -1.55
• Shares Outstanding: 2,169,645
• 10 Day Avg. Volume: 1,909
• 30 Day Avg. Volume: 3,273
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 4.52
• P/FCF Ratio: 0.00
• 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): kr89.43M

• Rating: 50 Neutral
• Price Target: kr9.50 ▲(45.04% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held back primarily by weak financial performance—persistent losses, negative operating cash flow, and increased leverage—despite a notable 2025 revenue rebound. Technical indicators provide partial support with positive momentum and price strength versus shorter moving averages, but valuation remains unattractive/unclear due to negative earnings and no dividend.

Positive Factors

Proprietary measurement technology

Mantex’s core automated, non-destructive scanning technology is a durable competitive asset in forestry/bioenergy production. Embedded in process control and QA, such systems create higher switching costs and long deployment cycles, supporting sticky customer relationships and recurring service opportunities over time.

Negative Factors

Persistent negative operating cash flow

Consistent negative operating cash flow shows the core business has not been self-funding, forcing reliance on external financing or equity. Over months this limits ability to fund installations, R&D, and warranty/service commitments, increases refinancing risk, and weakens resilience to adverse demand or execution setbacks.

Mantex AB Business Overview & Revenue Model

Company Description

Mantex AB (publ) manufactures and sells industrial X-ray scanners for bioenergy, pulp and paper, research, and other applications in Sweden and internationally. It offers biofuel analyzers that assess the quality of wood-based biofuels and flow sc...

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Mantex AB (publ) manufactures and sells industrial X-ray scanners for bioenergy, pulp and paper, research, and other applications in Sweden and internationally. It offers biofuel analyzers that assess the quality of wood-based biofuels and flow sc...

How the Company Makes Money

Mantex makes money primarily by selling its measurement systems (hardware) and associated software to industrial customers in sectors such as pulp and paper, sawmills, bioenergy, and other biomass-processing operations. Revenue is generated from (...

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Mantex makes money primarily by selling its measurement systems (hardware) and associated software to industrial customers in sectors such as pulp and paper, sawmills, bioenergy, and other biomass-processing operations. Revenue is generated from (...

Mantex AB Financial Statement Overview

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.58M	2.76M	2.66M	6.83M	1.44M	101.99K
Gross Profit	7.75M	-16.00M	2.83M	5.40M	908.59K	-426.28K
EBITDA	-23.43M	-15.60M	-25.16M	-16.43M	-15.24M	-15.93M
Net Income	-24.11M	-25.22M	-26.07M	-16.69M	-15.53M	-16.21M
Balance Sheet
Total Assets	29.97M	18.48M	36.34M	35.75M	27.26M	29.71M
Cash, Cash Equivalents and Short-Term Investments	281.00K	1.13M	5.99M	15.82M	10.50M	18.62M
Total Debt	0.00	10.00M	1.70M	4.15M	0.00	0.00
Total Liabilities	3.41M	12.63M	6.25M	7.70M	3.01M	2.14M
Stockholders Equity	26.56M	5.84M	30.09M	28.05M	24.24M	27.57M
Cash Flow
Free Cash Flow	-25.12M	0.00	-25.33M	-16.01M	-17.59M	-17.87M
Operating Cash Flow	-25.12M	-10.82M	-25.33M	-16.01M	-17.59M	-17.87M
Investing Cash Flow	-4.12M	0.00	-8.48M	-3.31M	-2.74M	-703.69K
Financing Cash Flow	24.92M	5.95M	23.97M	24.65M	12.20M	33.78M

Mantex AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.55
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MANTEX, the sentiment is Positive. The current price of 6.55 is below the 20-day moving average (MA) of 8.80, below the 50-day MA of 7.56, and below the 200-day MA of 8.93, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 63.58 is Neutral, neither overbought nor oversold. The STOCH value of 98.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MANTEX.

Mantex AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GGEO	52 Neutral	kr96.19M	-195.09	1.33%	―	2.20%	50.91%
MANTEX	50 Neutral	kr20.72M	-0.49	-146.86%	―	-44.22%	50.60%
OPTI	45 Neutral	kr142.34M	-1.78	―	―	140.86%	34.21%
BOMILL	44 Neutral	kr66.83M	-6.08	-110.39%	―	-65.29%	-33.93%
SALT.B	44 Neutral	kr947.02M	-12.66	-39.97%	―	11.85%	6.39%
IMPC	44 Neutral	kr129.42M	-2.70	―	―	―	―