SolTech Energy Sweden AB (SOLT) AI Stock Analysis

• Market Cap: kr141.54M
• Dividend Yield: N/A
• Average Volume (3M): 2.36M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.62
• Revenue Growth: -24.54%
• EPS Growth: -102.75%
• Country: SE
• Employees: 894
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -0.57
• Shares Outstanding: 1,322,794,000
• 10 Day Avg. Volume: 1,856,353
• 30 Day Avg. Volume: 2,364,286
• PEG Ratio: <0.01
• Price to Book (P/B): 0.13
• Price to Sales (P/S): 0.04
• P/FCF Ratio: 0.00
• 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): 0.03
• Revenue Forecast (FY): kr2.63B

• Rating: 43 Neutral
• Price Target: kr0.10 ▼(-35.63% Downside)
• Action: Reiterated Date: 02/23/26
• Date: Action: Reiterated 02/23/26

The score is driven primarily by weak financial performance, including a 2025 shift to gross losses, widening net losses, negative operating cash flow, and materially higher leverage. Technical indicators also point to a bearish trend with price below key moving averages and negative MACD. Valuation is only modestly supportive because losses (negative P/E) limit interpretability and there is no dividend yield data.

Positive Factors

Integrated solar project services

SolTech's business combines project sales, equipment/components distribution and adjacent building/roof services, creating multiple revenue streams tied to the same customer projects. That integrated model supports cross-selling, execution control and margin capture, providing durable commercial flexibility if execution stabilizes.

Demonstrated ability to reach operating profit

The company has previously achieved a slightly positive operating profit, showing operational leverage exists in the model. This indicates management can drive margins under the right conditions and that profitability is attainable without a fundamental change to the business model, offering a realistic path to recovery over months if execution and pricing improve.

Positive free cash flow in 2024

A positive free cash flow year (2024) demonstrates the company can convert operations into cash when conditions align. That capacity to self-fund projects and service obligations in favorable periods is a durable strength, showing potential to rebuild liquidity without permanent reliance on external financing if management restores consistent margins and working-capital discipline.

Negative Factors

Sharp profitability deterioration in 2025

The switch from positive gross profit to a large gross loss is a structural red flag: it suggests cost, pricing, or project execution issues undermining core economics. Sustained gross losses erode equity, increase capital needs and make margin recovery harder, posing a multi-month risk to durable profitability absent operational fixes.

Materially higher leverage

Debt rising to nearly two times equity sharply reduces financial flexibility. With elevated leverage, the company is more exposed to interest and refinancing risk, has less ability to fund growth internally, and faces greater strain if cash flows remain weak—creating a durable constraint on strategic options until leverage is reduced or earnings recover.

Volatile and negative operating cash flow

Inconsistent cash generation and a return to negative operating cash flow mean profits do not reliably translate into liquidity. That volatility forces recurring external financing, raises execution risk on projects, and limits the firm's ability to invest or absorb shocks—a persistent operational weakness over the coming months if not stabilized.

SolTech Energy Sweden AB Business Overview & Revenue Model

Company Description

SolTech Energy Sweden AB (SOLT) is a leading renewable energy company based in Sweden, specializing in solar energy solutions. The company operates in the sectors of solar energy production, energy efficiency, and sustainable building technologies. SOLT's core products include solar thermal systems, photovoltaic panels, and energy management systems designed to enhance energy efficiency in residential and commercial properties.

How the Company Makes Money

SolTech Energy generates revenue primarily through the sale and installation of solar energy systems, including both solar thermal and photovoltaic products. The company earns income from direct sales to customers, as well as through partnerships with construction companies and real estate developers who integrate SOLT's products into new building projects. Additionally, SOLT may benefit from government incentives and subsidies for renewable energy initiatives, further enhancing its revenue streams. The company also explores opportunities in energy management services and maintenance contracts, providing ongoing support and optimization for installed systems.

SolTech Energy Sweden AB Financial Statement Overview

Summary

Financials are under significant pressure: 2025 revenue declined, gross profit flipped to a large gross loss, and net losses widened. Leverage rose sharply (debt-to-equity increasing to ~1.93) while operating cash flow turned negative again, increasing financing and execution risk despite occasional stronger years historically.

Income Statement

Profitability has deteriorated sharply: 2025 revenue fell ~9% and the company swung from positive gross profit in 2024 to a large gross loss in 2025, driving deeply negative operating results and a much wider net loss. While 2023 showed a brief improvement (slightly positive operating profit), the broader multi-year pattern is volatile and currently unfavorable, with negative net profit margins in most years and a significant step-down in 2025.

Balance Sheet

Leverage has increased materially, with debt-to-equity rising from ~0.48 (2024) to ~1.93 (2025), alongside a decline in equity versus prior years and persistently negative returns on equity. The balance sheet was stronger in 2021–2023 with lower leverage, but the 2025 debt load meaningfully raises financial risk and reduces flexibility if losses continue.

Cash Flow

Cash generation is inconsistent and recently weak: operating cash flow turned negative again in 2025 after being positive in 2024, indicating profits (already negative) are not translating into cash and working-capital/cash demands remain elevated. Free cash flow was positive in 2024 but has been negative in several prior years and is reported at zero in 2025, underscoring volatility and limited internally funded growth capacity.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.71B	2.41B	2.90B	1.93B	912.70M
Gross Profit	-483.52M	854.05M	23.39M	597.12M	420.54M
EBITDA	-182.37M	97.92M	86.00M	-165.25M	291.81M
Net Income	-588.36M	-277.89M	-164.57M	-269.85M	81.71M
Balance Sheet
Total Assets	1.82B	2.09B	2.50B	2.33B	1.49B
Cash, Cash Equivalents and Short-Term Investments	230.29M	234.99M	212.26M	268.31M	335.80M
Total Debt	902.10M	361.74M	246.89M	149.53M	83.18M
Total Liabilities	1.35B	1.33B	1.48B	1.20B	546.79M
Stockholders Equity	467.82M	747.56M	1.01B	1.12B	903.55M
Cash Flow
Free Cash Flow	0.00	20.07M	-99.58M	-219.79M	-282.35M
Operating Cash Flow	-161.17M	91.50M	-942.00K	-191.34M	-105.23M
Investing Cash Flow	-32.86M	-104.25M	-284.64M	-155.51M	-259.78M
Financing Cash Flow	203.63M	34.41M	223.11M	286.02M	478.65M

SolTech Energy Sweden AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.16
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SOLT, the sentiment is Neutral. The current price of 0.16 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.12, and below the 200-day MA of 0.46, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.72 is Neutral, neither overbought nor oversold. The STOCH value of 91.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SOLT.

SolTech Energy Sweden AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SLEEP	69 Neutral	kr337.01M	6.33	96.69%	7.64%	0.29%	6.80%
NOTEK	64 Neutral	kr184.68M	15.66	―	―	37.36%	1536.66%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
INCOAX	44 Neutral	kr65.63M	-1.99	-24.59%	―	-48.24%	-48.99%
SOLT	43 Neutral	kr141.54M	-0.10	-46.09%	―	-24.54%	-102.75%
MIDS	40 Underperform	kr462.48M	-2.48	-105.89%	―	87.43%	64.20%