Tessin Nordic Holding AB (TESSIN) AI Stock Analysis

• Market Cap: kr22.79M
• Dividend Yield: N/A
• Average Volume (3M): 632.88K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: -38.13%
• EPS Growth: -75.67%
• Country: SE
• Employees: 14
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -4.37
• Shares Outstanding: 4,717,762
• 10 Day Avg. Volume: 343,657
• 30 Day Avg. Volume: 632,877
• PEG Ratio: -0.01
• Price to Book (P/B): -0.35
• Price to Sales (P/S): 2.05
• P/FCF Ratio: -1.37
• 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): -0.5
• Revenue Forecast (FY): kr46.80M

• Rating: 41 Neutral
• Price Target: kr5.50 ▲(7757.14% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily held down by weak financial performance (declining revenue, widening losses, ongoing cash burn, and negative equity). Technicals add additional pressure with the stock trading below key moving averages and negative MACD, while valuation offers limited support due to loss-making results and no dividend data.

Positive Factors

High gross profit

Sustained high gross profit relative to revenue implies the core service/product has intrinsic margin before overhead. This provides a structural lever: if fixed costs are reduced or overhead optimized, the business can move toward profitability without changing core pricing or volume, aiding recovery over months.

Free cash flow less negative than accounting losses

FCF being consistently less negative than accounting losses suggests non-cash charges (e.g., depreciation/impairments) inflate reported losses. That dynamic means operational cash burn may be more manageable and gives management a clearer path to stabilize liquidity through operational fixes rather than pure accounting recovery.

Lean headcount

A small employee base indicates a lean cost structure in payroll and easier ability to implement further cost controls or reallocate human capital. Over a multi-month horizon this makes restructuring or targeted investment less disruptive and can accelerate margin improvement if revenue stabilizes.

Negative Factors

Negative shareholders' equity

Deep negative equity (~-86.1M) is a structural solvency red flag that raises refinancing and creditor risk. It limits access to traditional funding, increases dilution risk if equity raises are required, and can force distressed financing terms—constraints that materially affect strategic flexibility over months.

Persistent negative operating cash flow

Consistent and worsening negative operating cash flow (-19.3M in 2025) indicates the business cannot self-fund operations. This creates ongoing external financing needs, elevates refinancing and survival risk, and limits the company’s ability to invest or respond to market shifts in the medium term.

Shrinking revenue and widening losses

Multi-year revenue declines and a dramatic worsening of net margin (~-404% in 2025) signal loss of scale and pricing or demand pressures. Structural top-line shrinkage combined with high fixed costs makes margin recovery difficult without meaningful business-model or market-position changes.

Tessin Nordic Holding AB Business Overview & Revenue Model

Company Description

Tessin Nordic AB owns and operates a crowd funding platform for real estate investments. It enables direct investing in property development projects. The company founded in 2014 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Tessin generates revenue through several key streams. Primarily, the company earns money by charging fees on the funds raised through its platform, which may include a percentage of the total investment amount or fixed fees for each project listed. Additionally, Tessin may charge project developers for listing their real estate opportunities, providing them access to a broad network of potential investors. Another revenue source could be associated with ongoing management fees for maintaining investor relations and managing investments until project completion. Strategic partnerships with real estate developers, financial institutions, and marketing platforms also play a significant role in enhancing Tessin's visibility and revenue potential, as they help attract more projects and investors to the platform.

Tessin Nordic Holding AB Financial Statement Overview

Summary

Financial health is very weak: revenue has declined for multiple years, losses are persistent and widened in 2025, operating/free cash flow are consistently negative and deteriorated in 2025, and the balance sheet shows negative shareholders’ equity, elevating solvency and refinancing risk.

Income Statement

Revenue has been shrinking for several years (down ~7% in 2025 after declines in 2024 and 2023), pointing to weakening scale. Profitability is consistently poor: operating results are materially negative each year, and net losses widened in 2025 (net margin about -404% vs. about -168% in 2024). A positive is that gross profit remains high relative to revenue, but heavy overhead and other costs are overwhelming the model, keeping the company structurally loss-making.

Balance Sheet

The balance sheet is highly stressed, highlighted by negative shareholders’ equity in 2023–2025 (about -86.1M in 2025), which significantly raises solvency and refinancing risk. Debt remains sizeable (about 72.0M in 2025), and while total assets declined versus prior years, the capital structure is still weak given the equity deficit. The prior swing from positive equity (2020–2022) to deeply negative equity suggests deterioration rather than stabilization.

Cash Flow

Cash generation is consistently negative: operating cash flow is negative across all years and worsened in 2025 (about -19.3M vs. -9.3M in 2024), with free cash flow also negative (about -22.2M in 2025). Free cash flow also deteriorated year-over-year in 2025 (down ~29%), increasing near-term funding needs. While free cash flow is less negative than accounting earnings in multiple years, the business is still not self-funding and likely dependent on external capital.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.80M	24.52M	40.57M	50.68M	44.22M
Gross Profit	14.80M	24.35M	42.36M	52.67M	46.18M
EBITDA	-33.67M	-7.72M	-6.54M	-30.65M	-18.84M
Net Income	-59.72M	-41.15M	-14.53M	-46.91M	-82.67M
Balance Sheet
Total Assets	147.48M	295.07M	256.96M	259.10M	268.84M
Cash, Cash Equivalents and Short-Term Investments	15.80M	34.13M	37.21M	20.93M	68.95M
Total Debt	72.00M	134.09M	211.18M	175.11M	176.84M
Total Liabilities	219.97M	297.44M	241.30M	229.91M	211.43M
Stockholders Equity	-86.08M	-29.06M	-6.19M	8.98M	37.41M
Cash Flow
Free Cash Flow	-22.15M	-12.78M	-15.48M	-21.46M	-76.45M
Operating Cash Flow	-19.32M	-9.31M	-14.53M	-17.91M	-72.65M
Investing Cash Flow	41.67M	-29.58M	19.93M	-41.70M	-81.67M
Financing Cash Flow	-5.78M	35.81M	10.88M	11.58M	210.38M

Tessin Nordic Holding AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 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:TESSIN, the sentiment is Negative. The current price of 0.07 is below the 20-day moving average (MA) of 5.52, below the 50-day MA of 6.23, and below the 200-day MA of 6.40, indicating a bearish trend. The MACD of -0.32 indicates Negative momentum. The RSI at 42.38 is Neutral, neither overbought nor oversold. The STOCH value of 65.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:TESSIN.

Tessin Nordic Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
BONAS	65 Neutral	kr472.07M	10.55	―	―	1.12%	―
SOLNA	60 Neutral	kr432.40M	9.56	―	5.79%	4.30%	―
LINKAB	56 Neutral	kr202.86M	19.74	―	5.48%	-12.37%	-53.91%
TESSIN	41 Neutral	kr22.79M	-0.42	―	―	-38.13%	-75.67%
FASTAT	40 Underperform	kr144.10M	-0.09	-772.82%	―	-37.20%	69.96%