Midsummer AB (MIDS) AI Stock Analysis

• Market Cap: kr373.12M
• Dividend Yield: N/A
• Average Volume (3M): 541.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.09
• Revenue Growth: 7.45%
• EPS Growth: 63.79%
• Country: SE
• Employees: 127
• Sector: Technology
• Sector Strength: 89
• Industry: Solar
• EPS (TTM): -0.15
• Shares Outstanding: 337,358,500
• 10 Day Avg. Volume: 527,642
• 30 Day Avg. Volume: 541,059
• PEG Ratio: N/A
• Price to Book (P/B): 2.58
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.26
• 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: kr1.01
• Price Target Upside: -9.38% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 52 Neutral
• Price Target: kr1.00 ▼(-9.91%Downside)

Midsummer AB's overall stock score is primarily hindered by severe financial performance challenges, characterized by declining revenues and high debt levels. While technical analysis shows a modestly positive trend, the negative P/E ratio and lack of dividend yield significantly impact valuation negatively.

Midsummer AB Business Overview & Revenue Model

Company Description

Midsummer AB (MIDS) is a Swedish company specializing in the manufacturing of advanced thin-film solar cells and modules. Operating in the renewable energy sector, Midsummer leverages its proprietary technology to produce lightweight, flexible, and durable solar solutions. These products are primarily used in building-integrated photovoltaics (BIPV) and other applications where traditional solar panels are less suitable.

How the Company Makes Money

Midsummer AB generates revenue primarily through the sale of its thin-film solar cells and modules. The company's unique selling proposition lies in its proprietary production process, which allows for cost-effective manufacturing of high-quality solar solutions. Key revenue streams include direct sales to businesses and consumers looking for innovative solar solutions for rooftops and facades. Midsummer also engages in strategic partnerships with construction and energy companies, enhancing its market reach and application diversity. Additionally, the company may benefit from government incentives aimed at promoting renewable energy technologies, further bolstering its revenue potential.

Midsummer AB Financial Statement Overview

Summary

Midsummer AB faces significant financial challenges with declining revenues, persistent losses, high leverage, and negative cash flow trends. The financial health is concerning, with substantial risks that need addressing to improve stability and growth potential.

Income Statement

Midsummer AB has shown a declining revenue trend over the years, with a revenue drop from 94.4 million in 2021 to 52.1 million in 2024. The net profit margins have been negative, indicating consistent losses, with a significant net income loss of 129.5 million in 2024. Gross profit margins have fluctuated, with a positive gross profit of 2.4 million in 2024, but overall profitability remains a concern. The EBIT and EBITDA margins are also negative, highlighting ongoing operational challenges.

Balance Sheet

The company's debt-to-equity ratio has increased, with total debt surpassing equity, indicating higher leverage and potential financial risk. Stockholders' equity has decreased from 252.9 million in 2021 to 75.3 million in 2024, reflecting a weakening equity position. The equity ratio has decreased, showing reduced financial stability. Despite having cash and cash equivalents, the high debt level poses a significant risk.

Cash Flow

Midsummer AB's cash flow situation is challenging, with negative free cash flow throughout the years, reaching -70.8 million in 2024. Operating cash flow to net income ratio is negative, indicating that operations are not generating sufficient cash to cover net losses. The free cash flow to net income ratio also shows a negative trend, further emphasizing cash flow issues. Financing activities have been providing cash inflow, suggesting reliance on external funding.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.28M	52.08M	49.63M	53.38M	94.41M	71.95M
Gross Profit	-216.00K	2.38M	33.77M	-18.11M	27.30M	54.32M
EBITDA	-110.43M	-96.58M	-128.28M	-34.94M	-70.83M	-49.17M
Net Income	-151.02M	-129.45M	-222.21M	-87.83M	-129.51M	-116.35M
Balance Sheet
Total Assets	415.11M	418.06M	517.56M	469.42M	491.24M	520.39M
Cash, Cash Equivalents and Short-Term Investments	14.28M	8.46M	20.52M	2.39M	159.16M	217.61M
Total Debt	199.23M	247.85M	236.51M	235.23M	212.46M	215.63M
Total Liabilities	297.73M	342.78M	322.90M	285.94M	238.28M	264.46M
Stockholders Equity	117.38M	75.29M	194.65M	183.48M	252.96M	255.93M
Cash Flow
Free Cash Flow	-86.37M	-70.77M	-130.64M	-171.17M	-178.74M	-132.69M
Operating Cash Flow	-55.22M	-8.20M	-71.06M	-101.37M	-63.39M	-79.69M
Investing Cash Flow	-23.49M	-62.57M	-63.90M	-69.80M	-115.35M	-53.00M
Financing Cash Flow	87.57M	58.73M	148.45M	13.47M	118.97M	238.59M

Midsummer AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.11
• 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:MIDS, the sentiment is Positive. The current price of 1.11 is above the 20-day moving average (MA) of 1.08, above the 50-day MA of 1.08, and above the 200-day MA of 1.07, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 62.56 is Neutral, neither overbought nor oversold. The STOCH value of 88.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MIDS.

Midsummer AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFL	68 Neutral	€128.83M	13.31	-3.26%	―	37.35%	―
Sector *	63 Neutral	$34.08B	6.06	-11.85%	1.82%	5.31%	-18.34%
MIDS	52 Neutral	kr373.12M	―	-97.73%	―	7.45%	63.79%
INCOAX	49 Neutral	kr188.37M	―	-18.50%	―	24.96%	23.93%
FREEM	47 Neutral	kr526.63M	―	-37.52%	―	-10.24%	12.09%
SOLT	44 Neutral	kr262.97M	―	-31.06%	―	-16.82%	-59.59%

Midsummer AB Corporate Events

Midsummer Completes Bari Factory with Invitalia Grant

Midsummer has completed its factory in Bari, Italy, for the production of thin film solar cells, receiving a final grant payment of EUR 1.63 million from Invitalia. This marks a significant milestone as the factory is now certified and ready for mass production, positioning Midsummer as a key player in the European solar energy market. The company has secured a total of EUR 22 million in grants for this project and additional funding for research and development, indicating strong support and growth potential in the solar energy sector.

Midsummer AB Expands Board and Strengthens Strategic Direction

Midsummer AB held its annual general meeting on June 12, 2025, where key resolutions were adopted. The company decided not to pay dividends for 2024, amended its articles of association to expand the board, and elected new board members with diverse expertise in IT, sustainability, and finance. These changes aim to strengthen Midsummer’s strategic direction and enhance its market position in the solar energy industry.

Midsummer AB Announces Annual General Meeting Details

Midsummer AB has announced its annual general meeting scheduled for June 12, 2025, at its offices in Järfälla, Sweden. Shareholders must register by June 5, 2025, to participate, and those with nominee-registered shares need to ensure owner registration by June 3, 2025. The meeting will cover several key agenda items, including the election of the chair, approval of financial statements, and amendments to the articles of association. Notably, the board proposes no dividends for the year, opting to balance the year’s results in a new account.

Midsummer Secures SEK 143m Order for Solar Cell Production Line

Midsummer has secured a significant order worth SEK 143.5 million for a turnkey production line of thin-film solar cells from a Swedish industrial and defense group. This order marks the first phase of establishing a solar cell factory outside Europe, with plans for future capacity expansion. The order underscores Midsummer’s strategy to offer scalable turnkey solar cell factories globally, supporting rapid green energy transitions and local production of environmentally friendly solar cells.