Nexam Chemical Holding AB (NEXAM) AI Stock Analysis

• Market Cap: kr190.15M
• Dividend Yield: N/A
• Average Volume (3M): 55.96K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.62
• Revenue Growth: -1.89%
• EPS Growth: -59.17%
• Country: SE
• Employees: 53
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): -0.02
• Shares Outstanding: 80,915,794
• 10 Day Avg. Volume: 55,551
• 30 Day Avg. Volume: 55,962
• PEG Ratio: 0.63
• Price to Book (P/B): 1.87
• Price to Sales (P/S): 1.72
• P/FCF Ratio: -138.68
• 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): N/A

• Rating: 46 Neutral
• Price Target: kr2.50 ▲(6.38% Upside)

The score is held back primarily by ongoing losses and weak/volatile cash generation despite strong recent revenue growth and a conservatively financed balance sheet. Technicals are bearish with the price below key moving averages and negative MACD, and valuation is constrained by a negative P/E and no dividend yield.

Positive Factors

Strong TTM revenue growth

A 71.7% TTM revenue rebound signals durable commercial traction for Nexam's specialty polymer products. Sustained top-line growth supports scaling production, strengthens customer relationships and provides runway to invest in R&D and commercialization over the next several quarters.

Conservative balance sheet / low leverage

Very low debt-to-equity (~0.15) gives the company financial flexibility and resilience. Limited interest burden reduces cash drain, enabling management to fund development, absorb cyclical shocks, and pursue strategic partnerships or selective investment without urgent refinancing risk.

Specialty-chemicals model with collaborations

Nexam’s focus on crosslinkers and additives for automotive, electronics and packaging, plus long-term supply agreements and research collaborations, creates durable B2B ties. These relationships drive recurring demand, co-developed products and potential licensing revenues over medium term.

Negative Factors

Recurring negative profitability

Persistent negative EBIT and net income indicate the company is not yet converting revenue into sustainable profits. Continued losses erode retained earnings, may force dilutive financing, and constrain reinvestment capacity, raising execution risk over the coming quarters.

Very small, volatile free cash flow

Free cash flow remains minimal and has fallen materially year-over-year despite positive operating cash flow in the TTM. Limited and volatile FCF restricts the firm’s ability to fund capex, scale manufacturing or weather setbacks without external capital over 2–6 months.

Deteriorating gross margins

A ~11 percentage-point decline in gross margin suggests pricing pressure, higher input costs, or mix shifts that weaken unit economics. Margin erosion reduces operating leverage from revenue growth, making it harder to achieve sustainable profitability without efficiency or pricing improvements.

Nexam Chemical Holding AB Business Overview & Revenue Model

Company Description

Nexam Chemical Holding AB (publ) develops solutions that enhance properties and performance of various polymers in Sweden, Europe and internationally. It provides various products that enhance the properties and durability of polyesters, polyethylene, polyamides, polyimides, and high temperature resins, as well as produces various functional chemicals, additive/functional masterbatches, and color masterbatches and compounds under the NEXAMITE and NEXIMID names; and polymer recycling and reactive recycling solutions. The company serves aerospace, electronics, pipes, and engineered foams industries. Nexam Chemical Holding AB (publ) was founded in 2009 and is headquartered in Lomma, Sweden.

How the Company Makes Money

Nexam Chemical generates revenue primarily through the sale of its specialty chemicals and polymer solutions to a diverse range of industries. The company's revenue model is centered around the development and commercialization of innovative chemical products that meet specific customer needs. Key revenue streams include direct sales of products, long-term supply agreements with major industry players, and collaborative partnerships for research and development projects. Nexam also benefits from strategic collaborations with other companies and research institutions, which can provide additional funding and resources for product development. Furthermore, the company may engage in licensing agreements for its proprietary technology, contributing to its overall earnings.

Nexam Chemical Holding AB Financial Statement Overview

Summary

Nexam Chemical Holding AB displays a mixed financial performance with challenges in profitability and revenue growth. The balance sheet strength offers some comfort with a solid equity base and low leverage, but ongoing difficulties in cash flow stability and profitability are concerning.

Income Statement

Nexam Chemical Holding AB has experienced revenue fluctuations with a decline from 2022 to TTM (Trailing-Twelve-Months) and a slight decline in gross profit margins. The company has consistently reported negative net income and EBIT margins, indicating ongoing profitability challenges. However, EBITDA margin slightly improved in the TTM, showing some operational efficiencies.

Balance Sheet

The balance sheet reflects a solid equity base with a moderate debt-to-equity ratio. However, the declining trend in stockholders' equity and total assets over recent periods suggests potential risks in financial stability. The equity ratio remains strong, indicating a low level of leverage, which is a positive aspect of financial health.

Cash Flow

Cash flow analysis shows an improvement in free cash flow from negative to positive in the TTM, reflecting better cash management. However, operating cash flow has been inconsistent, and the operating cash flow to net income ratio is not strong, indicating challenges in converting profits into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	197.72M	199.58M	190.28M	221.76M	219.45M	165.83M
Gross Profit	68.72M	92.40M	81.79M	86.73M	84.48M	70.95M
EBITDA	5.92M	10.52M	-5.01M	780.00K	6.30M	5.08M
Net Income	-14.33M	-9.01M	-22.84M	-12.71M	-5.46M	-8.09M
Balance Sheet
Total Assets	233.74M	231.13M	245.81M	278.10M	284.35M	250.28M
Cash, Cash Equivalents and Short-Term Investments	10.88M	2.88M	9.06M	22.88M	63.60M	29.79M
Total Debt	26.22M	23.10M	26.15M	31.84M	27.72M	40.29M
Total Liabilities	60.58M	47.82M	52.75M	62.48M	56.28M	63.09M
Stockholders Equity	173.16M	183.31M	193.06M	215.62M	228.06M	187.18M
Cash Flow
Free Cash Flow	313.00K	-2.47M	-9.53M	-44.22M	516.00K	-23.45M
Operating Cash Flow	7.26M	7.43M	-352.00K	-11.10M	7.19M	-16.85M
Investing Cash Flow	-9.41M	-9.71M	-9.18M	-33.12M	-6.25M	-6.60M
Financing Cash Flow	-1.60M	-3.06M	-5.17M	3.85M	33.23M	30.05M

Nexam Chemical Holding AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NEXAM, the sentiment is Negative. The current price of 2.35 is below the 20-day moving average (MA) of 2.89, below the 50-day MA of 3.00, and below the 200-day MA of 3.49, indicating a bearish trend. The MACD of -0.22 indicates Positive momentum. The RSI at 39.13 is Neutral, neither overbought nor oversold. The STOCH value of 35.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NEXAM.

Nexam Chemical Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FERRO	48 Neutral	kr237.37M	-3.55	―	―	-57.89%	91.07%
NEXAM	46 Neutral	kr190.15M	-13.84	-7.96%	―	-1.89%	-59.17%
ORGC	45 Neutral	kr199.11M	-6.50	-75.16%	―	-18.29%	-48.74%
AXIC.A	44 Neutral	kr130.64M	-7.00	-30.10%	―	114.57%	53.86%
XPC	44 Neutral	kr57.30M	-4.24	―	―	―	―