Online Brands Nordic AB (OBAB) AI Stock Analysis

• Market Cap: kr460.12M
• Dividend Yield: N/A
• Average Volume (3M): 19.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.30
• Revenue Growth: 27.27%
• EPS Growth: -1165.24%
• Country: SE
• Employees: 71
• Sector: Services
• Sector Strength: N/A
• Industry: Specialty Retail
• EPS (TTM): 0.05
• Shares Outstanding: 25,705,240
• 10 Day Avg. Volume: 2,357
• 30 Day Avg. Volume: 19,584
• PEG Ratio: 1.93
• Price to Book (P/B): 2.10
• Price to Sales (P/S): 1.01
• P/FCF Ratio: 13.57
• 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: 56 Neutral
• Price Target: kr18.50 ▲(2.21% Upside)

The score is held back primarily by weak financial performance (widening losses and compressed margins despite revenue growth and improved cash flow). Technicals are a clear positive with strong trend and momentum, but valuation remains challenged due to ongoing losses and no dividend data.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market penetration and increased demand for OBAB's products, supporting long-term expansion.

Balance Sheet Health

A strong balance sheet with low leverage enhances financial stability and provides flexibility for future investments and growth initiatives.

Cash Flow Management

Effective cash flow management ensures liquidity and financial flexibility, enabling OBAB to invest in growth opportunities and withstand economic fluctuations.

Negative Factors

Profitability Challenges

Operating at a net loss with low margins indicates challenges in achieving profitability, which could hinder long-term financial sustainability.

Operational Efficiency

Low EBIT margin suggests inefficiencies in operations, which can impact profitability and competitiveness if not addressed.

Negative Return on Equity

Negative ROE indicates that the company is not generating sufficient returns on shareholders' equity, potentially affecting investor confidence and capital raising.

Online Brands Nordic AB Business Overview & Revenue Model

Company Description

Cama-Gruppen AB retails carpets, mats, and rugs online. The company was founded in 2008 and is based in Mölndal, Sweden.

How the Company Makes Money

Online Brands Nordic AB generates revenue primarily through direct sales of its proprietary online brands across multiple e-commerce platforms. The company employs a revenue model that includes both B2C (business-to-consumer) and B2B (business-to-business) sales, leveraging its brand portfolio to appeal to a wide range of customers. Key revenue streams include online sales, subscription services for exclusive products, and partnerships with other retailers and marketplaces that allow OBAB to expand its reach. Additionally, the company may engage in affiliate marketing and collaborate with influencers to drive traffic and sales to its e-commerce sites, further contributing to its earnings.

Online Brands Nordic AB Financial Statement Overview

Summary

Mixed fundamentals: revenue continues to grow and TTM operating/free cash flow are positive, but profitability is weak with negative net margin and a widening loss versus 2024. Balance sheet leverage is still moderate, yet debt has risen sharply and returns on equity are negative, increasing execution risk.

Income Statement

Revenue has scaled materially over the last several years, with TTM (Trailing-Twelve-Months) revenue up ~8% versus the prior year, signaling continued top-line momentum. However, profitability is weak: TTM (Trailing-Twelve-Months) net margin is negative and net income remains meaningfully loss-making, a deterioration versus 2024’s smaller loss. Gross margin has also compressed versus 2024, indicating either higher product costs, heavier discounting, or mix shift. While EBITDA remains positive, the earnings profile is not yet stable and remains sensitive to cost and margin pressure.

Balance Sheet

Leverage is still moderate with TTM (Trailing-Twelve-Months) debt meaningfully below equity, which provides some balance-sheet flexibility. That said, debt has increased sharply versus 2024, and returns on equity are negative in recent periods, reflecting ongoing losses and weaker value creation for shareholders. Assets and equity have grown over time, but the combination of higher debt and negative profitability raises the need for sustained margin improvement to avoid further balance-sheet strain.

Cash Flow

Cash generation has improved versus the negative operating and free cash flow seen in 2022–2023, with TTM (Trailing-Twelve-Months) operating cash flow and free cash flow positive. However, free cash flow is down year-over-year (TTM (Trailing-Twelve-Months) decline), and cash conversion is modest relative to the scale of the business. Importantly, the company is still reporting net losses, so continued positive cash flow will need to prove durable through a full cycle and not rely on temporary working-capital benefits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	433.60M	365.60M	301.14M	286.91M	146.43M	12.85M
Gross Profit	173.40M	183.60M	136.93M	167.68M	99.20M	119.00K
EBITDA	25.30M	35.10M	14.59M	2.10M	12.72M	11.63M
Net Income	-21.80M	-8.00M	-10.49M	-18.30M	9.32M	-12.49M
Balance Sheet
Total Assets	353.70M	278.80M	274.81M	294.10M	164.02M	3.94M
Cash, Cash Equivalents and Short-Term Investments	23.10M	16.60M	12.28M	15.25M	66.24M	920.00K
Total Debt	78.00M	21.10M	39.43M	49.96M	4.17M	5.41M
Total Liabilities	156.80M	103.10M	98.03M	133.31M	35.18M	14.39M
Stockholders Equity	196.90M	175.70M	176.78M	160.79M	128.84M	-10.45M
Cash Flow
Free Cash Flow	7.20M	27.20M	-14.10M	-15.05M	-9.89M	298.00K
Operating Cash Flow	9.20M	27.20M	-11.34M	-12.61M	-8.16M	696.00K
Investing Cash Flow	-17.80M	-3.20M	-1.57M	-78.99M	8.60M	-975.00K
Financing Cash Flow	19.70M	-19.70M	9.94M	40.61M	61.39M	-47.00K

Online Brands Nordic AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:OBAB, the sentiment is Neutral. The current price of 18.1 is above the 20-day moving average (MA) of 17.96, above the 50-day MA of 16.44, and above the 200-day MA of 14.05, indicating a neutral trend. The MACD of 0.37 indicates Positive momentum. The RSI at 55.26 is Neutral, neither overbought nor oversold. The STOCH value of 47.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:OBAB.

Online Brands Nordic AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CDON	58 Neutral	kr737.86M	-9.03	―	―	―	―
BBROOM	56 Neutral	kr77.73M	―	―	―	―	―
OBAB	56 Neutral	kr460.12M	-18.86	―	―	27.27%	-1165.24%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
DSNO	42 Neutral	kr60.88M	-6.96	-197.48%	―	-10.50%	99.53%