Midsummer AB (SE:MIDS)
:MIDS
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Midsummer AB
(MIDS)
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Rating:42Neutral
Price Target:
kr0.85
▼(-37.35% Downside)
Action:UpgradedDate:03/20/26
The score is held down primarily by weak financial quality—ongoing large losses, continued cash burn, and still-elevated leverage—despite improving revenue and gross margin. Technicals also remain bearish with the price below key moving averages and negative MACD. Valuation offers limited support due to the negative P/E and lack of dividend data.
Positive Factors
Revenue rebound & margin recovery
A sustained revenue rebound and materially higher gross margin indicate improving product-market fit and operational scalability in thin‑film manufacturing. If maintained, higher gross margins support a path to operating leverage and reduce the absolute EBIT gap that must be closed to reach sustainable profitability.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flow means the business consumes cash to run and grow, creating reliance on external financing. This weak cash generation undermines runway for scaling manufacturing, elevates dilution/refinancing risk, and pressures the firm’s ability to invest in capacity without material funding events.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & margin recovery
A sustained revenue rebound and materially higher gross margin indicate improving product-market fit and operational scalability in thin‑film manufacturing. If maintained, higher gross margins support a path to operating leverage and reduce the absolute EBIT gap that must be closed to reach sustainable profitability.
Read all positive factors
Midsummer AB (MIDS) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr411.45M
Dividend YieldN/A
Average Volume (3M)751.28K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth87.43%
EPS Growth64.20%
CountrySE
Employees127
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)0.03
Shares Outstanding463,867,920
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 (MIDS) is a Swedish company specializing in the design and production of innovative solar energy solutions, particularly lightweight and flexible solar panels. Operating primarily in the renewable energy sector, MIDS focuses on provid...
How the Company Makes Money
Midsummer makes money primarily by selling thin-film solar products and by monetizing its proprietary manufacturing technology.
Key revenue streams include:
- Sale of solar panels/modules: Revenue from selling Midsummer-branded lightweight, flexi...
Midsummer AB Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 164.34M | 52.08M | 49.63M | 53.38M | 94.41M |
| Gross Profit | 30.96M | 2.38M | 33.77M | -18.11M | 27.30M |
| EBITDA | -85.07M | -96.58M | -128.28M | -34.94M | -70.83M |
| Net Income | -74.44M | -129.45M | -222.21M | -87.83M | -129.51M |
Balance Sheet | |||||
| Total Assets | 412.66M | 418.06M | 517.56M | 469.42M | 491.24M |
| Cash, Cash Equivalents and Short-Term Investments | 29.33M | 8.46M | 20.52M | 2.39M | 159.16M |
| Total Debt | 235.11M | 247.85M | 236.51M | 249.92M | 212.46M |
| Total Liabilities | 300.64M | 342.78M | 322.90M | 285.94M | 238.28M |
| Stockholders Equity | 112.02M | 75.29M | 194.65M | 183.48M | 252.96M |
Cash Flow | |||||
| Free Cash Flow | -56.78M | -70.77M | -130.64M | -171.17M | -178.74M |
| Operating Cash Flow | -36.32M | -8.20M | -71.06M | -101.37M | -63.39M |
| Investing Cash Flow | -40.25M | -62.57M | -63.90M | -69.80M | -115.35M |
| Financing Cash Flow | 99.81M | 58.73M | 148.45M | 13.47M | 118.97M |
Midsummer AB Technical Analysis
Neutral
1.36
Price Trends
0.94
Negative
1.28
Negative
1.75
Negative
Market Momentum
-0.02
Negative
50.14
Neutral
70.79
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 0.85, above the 50-day MA of 0.94, and below the 200-day MA of 1.75, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.14 is Neutral, neither overbought nor oversold. The STOCH value of 70.79 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% | |
60 Neutral | kr3.48B | -5.98 | -16.62% | ― | 24.53% | 35.12% | |
55 Neutral | kr637.80M | 52.29 | 22.29% | 0.48% | 27.82% | 305.33% | |
47 Neutral | kr188.37M | -0.10 | -96.77% | ― | -24.54% | -102.75% | |
44 Neutral | kr1.44B | -0.62 | ― | ― | 1.74% | -5214.06% | |
42 Neutral | kr411.45M | -6.25 | -63.70% | ― | 87.43% | 64.20% |
* Technology Sector Average
SE:MIDS
Midsummer AB
0.89
0.14
19.38%
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Midsummer AB Corporate Events
Midsummer Raises SEK 258 Million and Expands Share Capital to Fund Colombian Solar Factory Order
Feb 6, 2026
Midsummer AB has completed a directed share issue to the guarantors of its recent rights issue, with guarantors opting to receive approximately SEK 6.2 million of their compensation in shares, of which about SEK 2.7 million in share-based remunera...
Midsummer Finalizes Bond-to-Equity Conversion Following Rights Issue
Jan 26, 2026
Midsummer AB has finalized the terms of its previously announced bondholder settlement tied to its completed rights issue, confirming that SEK 79,636,764 of its bond loan, including additional accrued interest through 27 January 2026, will be conv...
Midsummer Raises SEK 175 Million in Partially Guaranteed Rights Issue
Jan 22, 2026
Midsummer AB has completed a rights issue in which approximately 60.3 percent of the offer was subscribed, including 52.7 percent with subscription rights and 7.6 percent without, with the remaining 39.7 percent covered by guarantee commitments. T...
Midsummer Strengthens Working Capital Through Directed Share Issues to Guarantors and Advisor
Jan 20, 2026
Midsummer AB has executed directed share issues linked to its recently completed rights issue, offering guarantors the option to receive up to approximately SEK 20.5 million in guarantee compensation in newly issued shares instead of cash, with pr...
Midsummer Raises SEK 175 Million in Fully Secured Rights Issue
Jan 20, 2026
Midsummer AB has announced the preliminary outcome of its fully secured rights issue of approximately SEK 175 million, with 59.9 percent of the offer subscribed by shareholders with and without subscription rights and the remaining 40.1 percent co...
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.