Seafire AB (SEAF) AI Stock Analysis

• Market Cap: kr389.90M
• Dividend Yield: N/A
• Average Volume (3M): 9.71K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: -1.52%
• EPS Growth: -43.08%
• Country: SE
• Employees: 297
• Sector: Services
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): 0.21
• Shares Outstanding: 42,846,570
• 10 Day Avg. Volume: 11,596
• 30 Day Avg. Volume: 9,711
• PEG Ratio: -0.02
• Price to Book (P/B): 0.41
• Price to Sales (P/S): 0.26
• P/FCF Ratio: 8.21
• 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: 50 Neutral
• Price Target: kr9.00 ▲(9.76% Upside)

The score is primarily held back by weak financial performance (ongoing losses and deteriorating free cash flow), despite improving leverage. Technicals are constructive with a clear uptrend and positive momentum, but valuation is constrained by negative earnings and the absence of a dividend yield.

Positive Factors

Diversified B2B portfolio model

Seafire’s model of owning multiple industrial and tech-focused SMEs reduces reliance on any single product or customer, supporting steadier group revenue streams and risk diversification. Over months this structural diversification helps stabilize cash flows and growth potential.

Long-term ownership and operational focus

A strategic emphasis on long-term ownership and hands-on operational improvement aligns incentives with portfolio value creation. This approach supports durable margin improvement, scalable efficiency gains across subsidiaries, and disciplined use of capital over multiple quarters.

Improving leverage profile

Reduced leverage improves financial flexibility and lowers refinancing risk, enabling the group to pursue targeted acquisitions or fund working capital needs. Over a 2–6 month horizon, this materially reduces solvency risk and strengthens resilience to earnings volatility.

Negative Factors

Persistent negative margins

Ongoing negative EBIT and net margins indicate the group is not yet converting revenue into sustainable profits. This constrains internal reinvestment, increases dependence on external financing, and undermines long-term value creation unless structural margin improvements occur.

Sharply declining free cash flow

A sharp fall in free cash flow reduces liquidity available for capital expenditure, acquisitions, or debt servicing. Over several months this heightens refinancing and operational risk and limits the company’s ability to execute its buy-and-build strategy without raising external capital.

Negative return on equity

Negative ROE signals the business is destroying shareholder capital rather than creating it. Structurally, this questions management’s ability to allocate capital profitably across subsidiaries and raises the risk that corrective measures or portfolio changes are needed to restore long-term shareholder value.

Seafire AB Business Overview & Revenue Model

Company Description

Seafire AB (publ) acquires and develops small companies primarily in Sweden. The company operates in two segments, Industry and Trade & Services. It markets and sells personal electric vehicles, such as electric bicycles, electric scooters, scooters, and electric mopeds as well as training equipment under the Nordbutiker i online stores. The company also provides monitoring products and services for farmers and industrial customers; interpretation, translation, and training services; engines and control units for professional TV, the media and film industry; industrial fans for ventilation and industrial use, as well as delivers industrial paint, accessories, and technical advice to the product-painting metal and wood industry. In addition, it engages in the pressing, stamping, and laser cutting of sheet steel components from various materials. Seafire AB (publ) was founded in 2016 and is based in Stockholm, Sweden.

How the Company Makes Money

Seafire AB generates revenue primarily through the sale of its proprietary technologies and solutions to aquaculture operators and marine businesses. The company has established multiple key revenue streams, including direct sales of monitoring and feeding systems, subscription services for software solutions that provide data analytics and operational insights, and maintenance contracts for ongoing support. Additionally, Seafire partners with industry stakeholders and research institutions to develop customized solutions, which can open up new revenue opportunities through collaborative projects and grants. These partnerships enhance Seafire's market reach and credibility, contributing significantly to its overall earnings.

Seafire AB Financial Statement Overview

Summary

Strong TTM revenue growth is offset by persistent profitability issues (negative net and EBIT margins) and weakening cash generation. Balance sheet leverage has improved, but negative ROE and sharply lower free cash flow keep overall financial quality weak.

Income Statement

Seafire AB's income statement shows a mixed performance. The company has experienced significant revenue growth in the TTM period, but profitability remains a concern with negative net and EBIT margins. The gross profit margin is moderate, indicating some efficiency in managing production costs. However, the persistent negative net profit margin suggests challenges in controlling overall expenses and achieving profitability.

Balance Sheet

The balance sheet reflects a moderate financial position. The debt-to-equity ratio has improved over the years, indicating a reduction in leverage, but it remains a potential risk factor. The return on equity is negative, highlighting the company's struggle to generate returns for shareholders. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

Cash flow analysis reveals significant volatility. The free cash flow has declined sharply in the TTM period, raising concerns about liquidity and operational efficiency. The operating cash flow to net income ratio is low, indicating challenges in converting earnings into cash. The free cash flow to net income ratio is positive but insufficient to offset the negative trends.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	907.00M	905.00M	1.00B	851.00M	421.30M	221.25M
Gross Profit	191.00M	187.00M	217.00M	194.00M	78.50M	57.60M
EBITDA	73.00M	71.00M	108.00M	123.00M	37.30M	23.14M
Net Income	-93.00M	-134.00M	-73.00M	14.00M	-13.40M	-478.00K
Balance Sheet
Total Assets	1.11B	1.15B	1.34B	1.75B	830.87M	245.46M
Cash, Cash Equivalents and Short-Term Investments	30.00M	57.00M	46.00M	468.00M	176.24M	20.04M
Total Debt	236.00M	271.00M	286.00M	656.00M	438.67M	124.26M
Total Liabilities	524.00M	571.00M	622.00M	963.00M	611.76M	223.76M
Stockholders Equity	587.00M	583.00M	717.00M	786.00M	219.11M	21.70M
Cash Flow
Free Cash Flow	-6.00M	29.00M	69.00M	-79.20M	-24.60M	15.99M
Operating Cash Flow	2.00M	45.00M	80.00M	-60.70M	-10.10M	16.74M
Investing Cash Flow	28.00M	-16.00M	-92.00M	-371.70M	-332.20M	-27.75M
Financing Cash Flow	-42.00M	-18.00M	-410.00M	723.80M	498.40M	24.30M

Seafire AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 8.20
• 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:SEAF, the sentiment is Neutral. The current price of 8.2 is below the 20-day moving average (MA) of 9.02, above the 50-day MA of 7.74, and above the 200-day MA of 6.35, indicating a neutral trend. The MACD of 0.30 indicates Positive momentum. The RSI at 43.26 is Neutral, neither overbought nor oversold. The STOCH value of 35.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SEAF.

Seafire AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFREA	72 Outperform	kr427.26M	19.18	―	3.51%	7.83%	―
STWK	56 Neutral	kr149.27M	-6.05	―	―	5.41%	20.99%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
NAXS	51 Neutral	kr401.45M	-16.40	―	8.78%	―	―
ATIN	51 Neutral	kr231.57M	-4.67	―	―	―	―
SEAF	50 Neutral	kr389.90M	-3.64	―	―	-1.52%	-43.08%

Seafire AB Corporate Events

Seafire AB Forms New Nomination Committee

Seafire AB has appointed a nomination committee in line with the resolution of its annual general meeting. The committee, formed by the chairman of the board, includes representatives from the company’s largest shareholders and will address issues pertinent to the company’s governance. This move is part of Seafire’s ongoing efforts to ensure robust corporate governance and stakeholder engagement.

The most recent analyst rating on (SE:SEAF) stock is a Hold with a SEK6.50 price target. To see the full list of analyst forecasts on Seafire AB stock, see the SE:SEAF Stock Forecast page.

Seafire AB Reports Q3 2025 Growth and Strategic Changes

Seafire AB reported a 6% increase in net sales for Q3 2025, driven by organic growth and improved gross margins. The company has implemented several strategic changes, including divestments and restructuring, to enhance profitability and cash flow. The appointment of a new CFO and COO, along with a focus on business development and acquisitions, positions Seafire for potential future growth.

The most recent analyst rating on (SE:SEAF) stock is a Hold with a SEK6.50 price target. To see the full list of analyst forecasts on Seafire AB stock, see the SE:SEAF Stock Forecast page.