Midsummer AB (SE:MIDS)
:MIDS
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Midsummer AB
(MIDS)
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Rating:55Neutral
Price Target:
kr1.50
▲(10.29% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by improving fundamentals (revenue rebound, better margins, improved leverage, and a return to positive operating/free cash flow) but capped by continued unprofitability and volatility in free cash flow. Technically, momentum is improving in the short term, yet the stock remains below its 200-day average, and valuation is constrained by negative earnings and no dividend support.
Positive Factors
Top-line recovery
A sustained ~30% TTM revenue rebound indicates recovering demand and better utilization of production capacity. For a manufacturing-led solar business, higher recurring order flow improves operating leverage and the prospects for continued margin recovery over the next several quarters.
Negative Factors
Ongoing unprofitability
Despite revenue and margin improvement, the company still reports negative operating and net income. Persistent losses mean the business must sustain revenue momentum and margin gains to reach structural profitability; until then, earnings volatility and capital needs remain material risks.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line recovery
A sustained ~30% TTM revenue rebound indicates recovering demand and better utilization of production capacity. For a manufacturing-led solar business, higher recurring order flow improves operating leverage and the prospects for continued margin recovery over the next several quarters.
Read all positive factors
Midsummer AB (MIDS) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr600.32M
Dividend YieldN/A
Average Volume (3M)751.28K
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue Growth333.55%
EPS Growth85.13%
CountrySE
Employees127
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-0.10
Shares Outstanding526,595,340
10 Day Avg. Volume1,001,524
30 Day Avg. Volume751,278
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)4.16
Price to Sales (P/S)2.83
P/FCF Ratio-8.20
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)0.04
Revenue Forecast (FY)kr308.00M
Midsummer AB Business Overview & Revenue Model
Company Description
Midsummer AB (publ), headquartered in Järfälla, Sweden, specializes in creating and delivering machinery for the production of CIGS thin-film solar cells. The company's offerings include Duo, a fully automated deposition system specifically design...
How the Company Makes Money
Midsummer makes money primarily by (1) selling thin-film solar panels/modules and related solar solutions, and (2) selling manufacturing equipment and/or production line solutions based on its thin-film solar manufacturing technology. Revenue from...
Midsummer AB Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 213.64M | 164.34M | 52.08M | 49.63M | 53.38M | 94.41M |
| Gross Profit | 64.77M | 30.96M | 2.38M | 33.77M | -18.11M | 27.30M |
| EBITDA | -15.26M | -85.07M | -96.58M | -128.28M | -34.94M | -70.83M |
| Net Income | -36.41M | -74.44M | -129.45M | -222.21M | -87.83M | -129.51M |
Balance Sheet | ||||||
| Total Assets | 549.06M | 412.66M | 418.06M | 517.56M | 469.42M | 491.24M |
| Cash, Cash Equivalents and Short-Term Investments | 149.54M | 29.33M | 8.46M | 20.52M | 2.39M | 159.16M |
| Total Debt | 127.81M | 235.11M | 247.85M | 236.51M | 249.92M | 212.46M |
| Total Liabilities | 209.02M | 300.64M | 342.78M | 322.90M | 285.94M | 238.28M |
| Stockholders Equity | 340.04M | 112.02M | 75.29M | 194.65M | 183.48M | 252.96M |
Cash Flow | ||||||
| Free Cash Flow | 13.53M | -56.78M | -70.77M | -130.64M | -171.17M | -178.74M |
| Operating Cash Flow | 69.70M | -36.32M | -8.20M | -71.06M | -101.37M | -63.39M |
| Investing Cash Flow | -51.18M | -40.25M | -62.57M | -63.90M | -69.80M | -115.35M |
| Financing Cash Flow | 119.12M | 99.81M | 58.73M | 148.45M | 13.47M | 118.97M |
Midsummer AB Technical Analysis
Neutral
1.36
Price Trends
1.08
Positive
1.03
Positive
1.58
Negative
Market Momentum
0.02
Positive
49.64
Neutral
31.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MIDS, the sentiment is Neutral. The current price of 1.36 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.08, and below the 200-day MA of 1.58, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 49.64 is Neutral, neither overbought nor oversold. The STOCH value of 31.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:MIDS.
Midsummer AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | kr819.02M | 176.49 | 22.29% | 0.48% | -1.90% | -74.32% | |
60 Neutral | kr1.59B | -0.82 | ― | ― | -15.13% | -602.18% | |
55 Neutral | kr600.32M | -16.85 | -63.70% | ― | 333.55% | 85.13% | |
53 Neutral | kr23.84B | -151.38 | -16.62% | ― | 8.00% | -8.17% | |
43 Neutral | kr289.69M | -0.53 | -96.77% | ― | -26.72% | 7.06% |
* Technology Sector Average
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Midsummer AB Corporate Events
Midsummer AGM backs board, withholds dividend and greenlights targeted share issue
May 20, 2026
Midsummer AB’s annual general meeting approved the 2025 financial statements, decided to retain earnings with no dividend, and granted discharge from liability to the board and CEO, while keeping board and auditor fee structures largely unch...
Midsummer Names Marcus Ek Head of Sales Europe to Drive Thin Film Solar Growth
May 11, 2026
Midsummer has appointed Marcus Ek as its new Head of Sales Europe, tasking him with refining the company’s go-to-market model across the region to scale its thin film solar business. Ek, who joined on May 1 and will sit on Group management, ...
Midsummer Calls 2026 AGM, Proposes No Dividend and Confirms Directed Share Issue
Apr 17, 2026
Midsummer AB has called its annual general meeting for May 20, 2026, at the company’s offices in Järfälla, Sweden, setting out participation requirements for shareholders, including registration with Euroclear Sweden and procedures...
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.