QleanAir AB (SE:QAIR)
:QAIR
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QleanAir AB
(QAIR)
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Rating:65Neutral
Price Target:
kr28.00
▲(37.25% Upside)
Action:ReiteratedDate:02/08/26
The score is driven primarily by improving financial performance—especially the 2025 cash flow rebound and reduced leverage—offset by historically volatile profitability and pressured 2025 gross margin. Technically, the stock is in an uptrend but appears overextended (RSI ~74). Valuation looks reasonable with a ~14 P/E, but no dividend yield data is available to strengthen the case.
Positive Factors
Recurring revenue model
QleanAir's core model of placing units under rental/subscription and service contracts creates recurring revenue tied to an installed base. This structure delivers predictable, contractually backed cash flows, higher customer retention and upsell potential, supporting stability across business cycles.
Negative Factors
Revenue/profit volatility
Historical swings in revenue and profitability across multiple years indicate underlying demand fluctuation or execution risk. Such volatility complicates multi-period planning, weakens confidence in trend extrapolation for installed-base growth, and raises earnings predictability concerns.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue model
QleanAir's core model of placing units under rental/subscription and service contracts creates recurring revenue tied to an installed base. This structure delivers predictable, contractually backed cash flows, higher customer retention and upsell potential, supporting stability across business cycles.
Read all positive factors
QleanAir AB (QAIR) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr399.71M
Dividend YieldN/A
Average Volume (3M)6.98K
Price to Earnings (P/E)10.5
Beta (1Y)0.80
Revenue Growth-5.37%
EPS Growth23.22%
CountrySE
Employees118
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)0.87
Shares Outstanding14,859,200
10 Day Avg. Volume5,753
30 Day Avg. Volume6,978
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.36
Price to Sales (P/S)0.64
P/FCF Ratio4.32
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)2.56
Revenue Forecast (FY)kr487.00M
QleanAir AB Business Overview & Revenue Model
Company Description
QleanAir AB (publ) provides air cleaning solutions for professional environments worldwide. The company offers freestanding smoking cabins for protection against secondhand smoke; cleanrooms for aseptic spaces; and smoking solutions for shopping m...
How the Company Makes Money
QleanAir AB generates revenue through the sale and rental of its air filtration systems and related services. Key revenue streams include direct sales of air purification units to clients in various sectors, long-term rental agreements that provid...
QleanAir AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 454.74M | 450.38M | 503.52M | 455.17M | 450.58M |
| Gross Profit | 41.13M | 293.22M | 344.04M | 311.02M | 318.04M |
| EBITDA | 78.99M | 48.51M | 102.43M | 56.04M | 109.64M |
| Net Income | 27.89M | -1.43M | 43.37M | 13.29M | 59.26M |
Balance Sheet | |||||
| Total Assets | 563.20M | 631.13M | 662.05M | 647.72M | 610.81M |
| Cash, Cash Equivalents and Short-Term Investments | 39.53M | 52.04M | 56.88M | 66.96M | 69.66M |
| Total Debt | 158.14M | 240.82M | 246.54M | 261.07M | 235.00M |
| Total Liabilities | 348.48M | 429.41M | 446.75M | 463.75M | 416.72M |
| Stockholders Equity | 214.72M | 201.72M | 215.29M | 183.98M | 194.09M |
Cash Flow | |||||
| Free Cash Flow | 67.73M | 15.92M | 38.86M | 1.44M | 75.86M |
| Operating Cash Flow | 80.07M | 39.74M | 62.65M | 29.73M | 104.15M |
| Investing Cash Flow | -19.08M | -23.83M | -23.79M | -28.29M | -28.30M |
| Financing Cash Flow | -67.74M | -21.25M | -46.24M | -6.56M | -59.20M |
QleanAir AB Technical Analysis
Positive
20.40
Price Trends
25.31
Positive
23.02
Positive
22.26
Positive
Market Momentum
0.10
Positive
51.76
Neutral
76.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QAIR, the sentiment is Positive. The current price of 20.4 is below the 20-day moving average (MA) of 26.09, below the 50-day MA of 25.31, and below the 200-day MA of 22.26, indicating a bullish trend. The MACD of 0.10 indicates Positive momentum. The RSI at 51.76 is Neutral, neither overbought nor oversold. The STOCH value of 76.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:QAIR.
QleanAir AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr399.71M | 10.50 | 13.38% | ― | -5.37% | 23.22% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | kr2.13B | 35.34 | ― | 1.51% | -8.97% | -31.59% | |
55 Neutral | kr32.37B | -980.59 | 2.49% | 0.93% | 4.97% | -65.71% | |
50 Neutral | kr1.68B | -44.52 | -1.46% | 6.60% | -7.32% | -139.66% | |
48 Neutral | kr2.85B | -94.90 | ― | ― | 9.60% | 40.86% | |
44 Neutral | kr945.87M | -12.66 | -39.97% | ― | 11.85% | 6.39% |
* Industrials Sector Average
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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.