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Minesto AB
(MINEST)
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Rating:52Neutral
Price Target:
kr2.00
▲(181.69% Upside)
Action:Reiterated
Date:07/11/26
The score is held back primarily by weak financial performance: persistent losses, sharp recent revenue contraction, and ongoing negative operating/free cash flow. Support comes from a strong, low-debt balance sheet that reduces refinancing risk and from positive technical momentum (price above key moving averages and positive MACD), though overbought signals (high RSI/Stoch) temper the technical outlook. Valuation remains difficult to justify on earnings given the negative P/E and lack of a stated dividend yield.
Positive Factors
Proprietary technology (Deep Green)
Minesto's Deep Green subsea kite targets low-velocity currents that many competitors cannot exploit. This proprietary, application-specific technology is a durable competitive asset, creating entry barriers, enabling niche market leadership and long-term licensing or project revenue if deployments scale.
Negative Factors
Persistent net losses
Sustained, sizable net losses indicate the core business is not yet profitable and will erode capital if unchecked. Over months, persistent negative earnings limit reinvestment ability, pressure returns on equity and require external funding or dilution absent a durable path to margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary technology (Deep Green)
Minesto's Deep Green subsea kite targets low-velocity currents that many competitors cannot exploit. This proprietary, application-specific technology is a durable competitive asset, creating entry barriers, enabling niche market leadership and long-term licensing or project revenue if deployments scale.
Read all positive factors
Minesto AB (MINEST) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr548.84M
Dividend YieldN/A
Average Volume (3M)2.66M
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue GrowthN/A
EPS Growth17.87%
CountrySE
Employees36
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.15
Shares Outstanding260,111,600
10 Day Avg. Volume7,072,954
30 Day Avg. Volume2,663,807
Financial Highlights & Ratios
PEG Ratio0.41
Price to Book (P/B)0.25
Price to Sales (P/S)0.00
P/FCF Ratio-2.36
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)N/A
Revenue Forecast (FY)N/A
Minesto AB Business Overview & Revenue Model
Company Description
Minesto AB (publ), along with its affiliated entities, functions as a developer of marine energy solutions, operating in various locations such as Sweden, Wales, Northern Ireland, and Taiwan. The company utilizes its proprietary Deep Green technol...
How the Company Makes Money
Minesto’s revenue model is centered on commercializing its marine energy technology and developing marine energy projects. Key ways the company is intended to make money include: (1) Sales of technology and systems: selling its subsea kite units a...
Minesto AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.93M | 0.00 | 75.00K | 391.00K | 42.82M | 38.76M |
| Gross Profit | 11.77M | -252.00K | 25.71M | 41.78M | 85.64M | 77.53M |
| EBITDA | -30.88M | -38.52M | -35.79M | -26.78M | -22.21M | -18.58M |
| Net Income | -32.68M | -36.63M | -36.10M | -27.12M | -84.44M | -14.93M |
Balance Sheet | ||||||
| Total Assets | 644.00M | 652.60M | 586.19M | 552.14M | 486.18M | 559.50M |
| Cash, Cash Equivalents and Short-Term Investments | 50.08M | 67.57M | 34.89M | 15.16M | 34.58M | 150.89M |
| Total Debt | 0.00 | 500.00K | 500.00K | 500.00K | 500.00K | 500.00K |
| Total Liabilities | 20.52M | 22.24M | 17.54M | 29.40M | 32.83M | 21.75M |
| Stockholders Equity | 623.48M | 630.36M | 568.65M | 522.75M | 453.34M | 537.75M |
Cash Flow | ||||||
| Free Cash Flow | -9.00M | -65.68M | -62.54M | -116.74M | -116.77M | -94.87M |
| Operating Cash Flow | -9.00M | -36.18M | -10.22M | -16.20M | -36.58M | -20.41M |
| Investing Cash Flow | -27.88M | -29.50M | -52.29M | -100.54M | -80.18M | -74.45M |
| Financing Cash Flow | 76.68M | 98.68M | 81.95M | 96.73M | 0.00 | 140.26M |
Minesto AB Technical Analysis
Positive
0.71
Price Trends
1.10
Positive
0.90
Positive
1.01
Positive
Market Momentum
0.21
Negative
80.36
Negative
83.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MINEST, the sentiment is Positive. The current price of 0.71 is below the 20-day moving average (MA) of 1.35, below the 50-day MA of 1.10, and below the 200-day MA of 1.01, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 80.36 is Negative, neither overbought nor oversold. The STOCH value of 83.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MINEST.
Minesto AB Peers Comparison
UnderperformOutperform
Sector (66)
SE:MINEST
Minesto AB
2.11
-1.58
-42.74%
SE:ORRON
Orron Energy
7.38
2.43
48.97%
SE:CLIME.B
Climeon AB
2.80
-1.35
-32.47%
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.