ELLWEE AB (ORTIN) AI Stock Analysis

• Market Cap: kr36.07M
• Dividend Yield: N/A
• Average Volume (3M): 101.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.20
• Revenue Growth: -5.14%
• EPS Growth: -85.68%
• Country: SE
• Employees: 17
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Information Technology Services
• EPS (TTM): N/A
• Shares Outstanding: 72,721,214
• 10 Day Avg. Volume: 144,013
• 30 Day Avg. Volume: 101,218
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.52
• Price to Sales (P/S): 0.02
• P/FCF Ratio: 0.86
• 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: 44 Neutral
• Price Target: kr0.54 ▼(-57.58% Downside)
• Action: Upgraded Date: 01/28/26
• Date: Action: Upgraded 01/28/26

Overall score is held back primarily by weak technicals (price far below major moving averages and negative MACD) and balance-sheet risk (high leverage and low equity ratio). Cash flow improvement and modest revenue growth provide some support, while valuation is only modestly informative due to a negative P/E and missing dividend yield.

Positive Factors

Free cash flow improvement

A near 190% jump in free cash flow indicates materially improved internal liquidity and cash generation. Over 2–6 months this strengthens the company's ability to fund operations, reduce short-term refinancing needs, and allocate cash to strategic investments or debt paydown, improving resilience.

Strong cash conversion

An operating cash flow to net income ratio of 0.85 signals that reported earnings largely convert to cash. Durable cash conversion quality reduces earnings manipulation risk and supports sustainable working-capital funding, enabling more predictable capital allocation and debt servicing.

Modest top-line growth

Consistent revenue growth of ~7.7% reflects demand for the company's services and some market traction. Over the medium term this provides a base for operational leverage if margins improve, enabling scalable revenue-driven gains in cash flow and profitability.

Negative Factors

High financial leverage

A debt-to-equity ratio above 4 and a low equity ratio indicate heavy reliance on liabilities to finance assets. Structurally this raises refinancing and solvency risk, constrains strategic flexibility, and makes the company sensitive to interest and earnings shocks over the medium term.

Thin operating profitability

Low net and EBIT margins limit the company's capacity to absorb cost inflation, invest in growth, or accelerate deleveraging. Persistently thin margins reduce free cash flow upside from revenue growth and magnify the impact of any revenue declines on credit metrics and long-term viability.

Earnings volatility / EPS decline

A steep negative EPS growth rate signals volatile profitability and potential one-off pressures or operational deterioration. Over 2–6 months this undermines confidence in earnings stability, complicates long-term planning, and raises the risk that cash improvements prove transient.

ELLWEE AB Business Overview & Revenue Model

Company Description

Ortelius International AB, a technology company, engages in AI- and data-driven business operations. The company is based in Malmo, Sweden.

How the Company Makes Money

ELLWEE AB generates revenue through multiple streams, primarily by selling software licenses and subscription services for its technology platforms. The company offers tiered pricing models that cater to different business sizes and needs, ensuring a steady income from clients who rely on its solutions for logistics management. Additionally, ELLWEE AB partners with logistics firms and transportation companies to provide customized solutions, which allows for shared revenue opportunities and enhances its market reach. Consulting services related to the implementation and optimization of its software also contribute to the company’s earnings, creating a comprehensive revenue model that combines product sales with service offerings.

ELLWEE AB Financial Statement Overview

Summary

Mixed fundamentals: revenue grew 7.68% (2023–2024) and free cash flow improved sharply (+189.15%), but profitability remains thin (net margin ~2.37%, EBIT ~4.05%) and leverage is high (debt-to-equity 4.45; equity ratio 10.60%).

Income Statement

ELLWEE AB has shown volatility in its income statement over the years. The gross profit margin for 2024 stands at approximately 9.15%, indicating moderate efficiency in production. However, the net profit margin is around 2.37%, reflecting challenges in translating revenue into profit. The company experienced a revenue growth rate of 7.68% from 2023 to 2024, indicating positive top-line growth. Nevertheless, EBIT and EBITDA margins are low, with EBIT at 4.05% and EBITDA at 7.49%, showing limited operational efficiency.

Balance Sheet

The balance sheet of ELLWEE AB highlights financial leverage concerns. The debt-to-equity ratio for 2024 is 4.45, indicating high leverage and potential risk if earnings do not support debt obligations. The return on equity (ROE) stands at 74.41%, driven by the low equity base rather than strong performance. The equity ratio is a low 10.60%, suggesting high dependency on liabilities to finance assets.

Cash Flow

ELLWEE AB's cash flow statement shows improvement in cash generation. The free cash flow for 2024 grew by 189.15% compared to 2023, demonstrating improved liquidity. The operating cash flow to net income ratio is 0.85, indicating good conversion of income to cash. However, the free cash flow to net income ratio is 0.81, suggesting some constraints in cash relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	227.83M	256.54M	238.24M	209.36M	28.93M	1.46M
Gross Profit	20.50M	23.47M	24.36M	28.07M	5.46M	761.05K
EBITDA	-1.75M	19.23M	-23.71M	-16.72M	-32.79M	-21.03M
Net Income	-24.78M	6.09M	-36.43M	-74.40M	-39.88M	-21.94M
Balance Sheet
Total Assets	5.80M	77.17M	85.03M	83.79M	112.32M	34.84M
Cash, Cash Equivalents and Short-Term Investments	2.44M	4.63M	4.17M	14.88M	11.74M	5.89M
Total Debt	9.11M	36.42M	40.99M	32.46M	22.64M	610.93K
Total Liabilities	14.87M	69.00M	66.59M	49.61M	68.37M	8.79M
Stockholders Equity	-9.07M	8.18M	18.44M	34.18M	43.95M	26.05M
Cash Flow
Free Cash Flow	-858.07K	4.91M	-5.51M	-47.70M	-58.37M	-41.94M
Operating Cash Flow	-677.43K	5.15M	-5.20M	-39.97M	-51.03M	-28.36M
Investing Cash Flow	5.85M	-212.09K	-308.68K	-23.66M	-17.10M	-13.61M
Financing Cash Flow	-6.96M	-4.48M	-5.21M	66.77M	73.99M	47.85M

ELLWEE AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ORTIN, the sentiment is Negative. The current price of 1.28 is above the 20-day moving average (MA) of 0.59, above the 50-day MA of 0.84, and below the 200-day MA of 4.23, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 34.03 is Neutral, neither overbought nor oversold. The STOCH value of 23.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ORTIN.

ELLWEE AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%