PowerCell Sweden AB (PCELL) AI Stock Analysis

• Market Cap: kr1.49B
• Dividend Yield: N/A
• Average Volume (3M): 187.71K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.13
• Revenue Growth: 14.27%
• EPS Growth: 50.17%
• Country: SE
• Employees: 146
• Sector: Industrials
• Sector Strength: 89
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.39
• Shares Outstanding: 57,892,433
• 10 Day Avg. Volume: 165,126
• 30 Day Avg. Volume: 187,708
• PEG Ratio: -1.10
• Price to Book (P/B): 3.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.09
• 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: kr36.95
• Price Target Upside: 47.93% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 56 Neutral
• Price Target: kr26.00 ▲(4.08%Upside)

The overall score is primarily impacted by concerns over profitability and negative cash flows, as reflected in the financial performance and valuation scores. While the company's strong revenue growth and solid balance sheet are positives, technical indicators suggest potential weakness in stock momentum.

Positive Factors

Product Orders

Product order intake exceeded SEK50m for the third consecutive quarter.

Revenue Growth

PowerCell reported solid revenue growth in Q1.

Negative Factors

Cash Flow

Operating cash flow was negative, primarily due to pre-buys for projects and project milestones invoicing not yet collected.

Gross Margin

The gross margin was negatively impacted by FX headwinds.

PowerCell Sweden AB Business Overview & Revenue Model

Company Description

PowerCell Sweden AB (publ) develops and produces fuel cells and fuel cell systems for automotive, marine, and stationary applications in Sweden and internationally. It offers PowerCell S2 based solutions that comprise PowerCell MS-30, a fuel cell system for battery-operated electric vehicles; PowerCell PS-5, a fuel cell system that is used for electricity generation, as well as an auxiliary power generator for telecom, traffic, building, and household applications; and PowerCell S2 fuel cell stack. The company also offers PowerCell S3 based solutions, including Powercell MS-100 for heavy-duty use applications; PowerCell megawatt solutions for marine and stationary applications; and PowerCell S3 fuel cell stack for stationary and mobile applications. In addition, it offers engineering services and zero emission solutions. The company was founded in 2008 and is based in Gothenburg, Sweden.

How the Company Makes Money

PowerCell Sweden AB generates revenue primarily through the sale of its hydrogen fuel cell systems and related technologies. The company's key revenue streams include direct sales to automotive manufacturers, marine operators, and industrial clients looking for sustainable energy solutions. PowerCell also engages in strategic partnerships and collaborations with industry leaders to expand its market reach and enhance its product offerings. Additionally, the company may receive funding and grants from government initiatives aimed at promoting clean energy technologies, further contributing to its earnings.

PowerCell Sweden AB Financial Statement Overview

Summary

PowerCell Sweden AB demonstrates robust revenue growth and a solid balance sheet with low leverage. However, profitability remains a concern with recurring losses and negative cash flows, indicating operational inefficiencies and reliance on external financing.

Income Statement

PowerCell Sweden AB shows a positive revenue growth trend with a TTM growth rate of 6.6%, indicating strong sales expansion. However, the company continues to face profitability challenges with a negative net profit margin of -10.6% and negative EBIT and EBITDA margins, reflecting ongoing operational inefficiencies. Despite these challenges, the company's gross profit margin remains stable at 33.4%, suggesting effective cost management in production.

Balance Sheet

The company maintains a strong equity position with an equity ratio of 65.3%, highlighting financial stability. However, the negative return on equity of -9.5% indicates challenges in generating returns on shareholders' investments. The debt-to-equity ratio is relatively low at 0.06, reflecting conservative leverage practices, which reduces financial risk.

Cash Flow

Cash flow management is a concern with a negative free cash flow growth rate of 182.2%, indicating increasing cash outflows. The operating cash flow to net income ratio is negative, reflecting insufficient cash generation from core operations relative to net losses. Financing activities have provided substantial inflows, suggesting reliance on external funding to support operations.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	334.28M	310.29M	244.69M	159.76M	103.53M
Gross Profit	116.17M	124.01M	113.02M	49.03M	25.78M
EBITDA	-22.06M	-27.23M	-22.95M	-44.04M	-51.13M
Net Income	-47.28M	-62.96M	-58.17M	-75.08M	-116.62M
Balance Sheet
Total Assets	662.44M	425.11M	473.95M	521.33M	564.69M
Cash, Cash Equivalents and Short-Term Investments	218.92M	70.81M	196.86M	332.51M	416.85M
Total Debt	73.82M	28.14M	31.46M	37.22M	72.40M
Total Liabilities	248.74M	149.68M	141.07M	137.88M	107.13M
Stockholders Equity	413.70M	275.43M	332.87M	383.45M	457.56M
Cash Flow
Free Cash Flow	-65.27M	-124.17M	-138.31M	-84.23M	-14.36M
Operating Cash Flow	-18.57M	-95.69M	-120.51M	-66.34M	-3.86M
Investing Cash Flow	-46.54M	-28.17M	-24.39M	-17.92M	-10.79M
Financing Cash Flow	224.69M	-8.78M	-8.46M	-7.52M	2.54M

PowerCell Sweden AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 24.98
• 50DMA: Positive
• 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:PCELL, the sentiment is Neutral. The current price of 24.98 is above the 20-day moving average (MA) of 24.70, above the 50-day MA of 24.92, and below the 200-day MA of 31.34, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 49.92 is Neutral, neither overbought nor oversold. The STOCH value of 40.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:PCELL.

PowerCell Sweden AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	58 Neutral	HK$14.16B	4.53	-3.01%	6.82%	3.67%	-54.16%
PCELL	56 Neutral	kr1.49B	―	-11.32%	―	14.27%	50.17%
SALT.B	52 Neutral	kr1.20B	―	-54.63%	―	-40.71%	17.94%
SES	43 Neutral	kr824.02M	12.92	-0.28%	―	78.58%	98.53%
CI	40 Underperform	kr97.65M	―		―	1.01%	65.54%

PowerCell Sweden AB Corporate Events

PowerCell Sweden AB Achieves Record Sales and Strategic Partnerships in Q2 2025

PowerCell Sweden AB reported a significant increase in net sales and gross profit for the second quarter of 2025, with net sales rising by 96% compared to the same period last year. The company also achieved a positive net income and operating cash flow, marking a notable turnaround from previous losses. Key developments include an expanded partnership with Robert Bosch GmbH to boost fuel cell adoption in China, a type approval for the Marine System 225, and new commercial agreements with Hitachi Energy and an Italian marine OEM customer. These strategic moves are expected to strengthen PowerCell’s market position and drive further growth in the hydrogen fuel cell industry.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

PowerCell Sweden AB to Release Q2 2025 Report with Online Presentation

PowerCell Sweden AB announced the release of its second quarter report for 2025, scheduled for publication on July 17, followed by an online presentation and Q&A session. This event underscores PowerCell’s commitment to transparency and stakeholder engagement, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

PowerCell Secures First Major Order for Next-Gen Marine Fuel Cell System

PowerCell Sweden AB has secured a SEK 44 million contract with a leading Italian marine OEM for its next-generation marine fuel cell system, marking the first commercial order for its MW-class technology. This agreement signifies a shift in the maritime industry towards zero-emission solutions, driven by commercial demand and regulatory frameworks, and highlights PowerCell’s strengthened position in supporting customers with high-power, efficient fuel cell systems.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

PowerCell Secures First Commercial Order for Hitachi Energy’s HyFlex™ System

PowerCell Sweden AB has secured its first commercial order for hydrogen fuel cell systems to be used in Hitachi Energy’s HyFlex™ platform, marking a significant advancement in emission-free, off-grid energy solutions. This collaboration, initiated in 2021, underscores the reliability of PowerCell’s innovative solutions and highlights the growing demand in the power-generation market, positioning PowerCell as a key player in the energy transition alongside a reputable partner like Hitachi Energy.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

PowerCell’s Marine System 225 Achieves Lloyd’s Register Type Approval

PowerCell Sweden AB has achieved a significant milestone with its Marine System 225 receiving Type Approval from Lloyd’s Register, a prestigious classification society. This certification validates the system’s compliance with stringent safety, design, and performance standards, enhancing its marketability in the maritime industry. The Marine System 225 is designed to provide 225 kW of clean, vibration-free power and supports shipowners in meeting decarbonization goals and EU regulations. The approval is expected to facilitate commercial projects and pilot integrations in various marine vessels, signaling the readiness of hydrogen fuel cell systems for maritime deployment.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

PowerCell Expands Partnership with Bosch to Boost Fuel Cell Adoption in China

PowerCell Sweden AB has expanded its strategic partnership with Robert Bosch GmbH to accelerate the adoption of hydrogen fuel cell systems in China, particularly in mobility applications. This collaboration aims to scale the technology for broader customer access in high-growth markets like China and the global power generation sector. Bosch has acquired rights to adapt PowerCell’s S3 stack for the Chinese automotive market, valued at approximately €6 million, and the agreement will be reflected in PowerCell’s Q2 2025 interim report. Additionally, PowerCell will provide Bosch access to non-automotive sectors in China, such as backup power and industrial mobility, which are rapidly electrifying and require high-efficiency solutions. This partnership is expected to enhance market penetration of fuel cell systems in these sectors, leveraging Bosch’s industrial capacity and PowerCell’s advanced technology.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.