C-Rad AB Class B (24C) AI Stock Analysis

• Market Cap: €104.94M
• Dividend Yield: N/A
• Average Volume (3M): 129.00
• Price to Earnings (P/E): 35.9
• Beta (1Y): 0.29
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: DE
• Employees: 99
• Sector: Healthcare
• Sector Strength: 41
• Industry: Medical - Devices
• EPS (TTM): -0.02
• Shares Outstanding: 32,904,050
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 129
• PEG Ratio: -0.84
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 31.12
• 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

C-Rad AB Class B Business Overview & Revenue Model

Company Description

C-Rad AB (publ), together with its subsidiaries, develops, manufactures, and sells systems with applications in radiation therapy for the treatment of cancer worldwide. The company operates through two segments, Positioning and Imaging. Its products include Sentinel 4D CT, a laser-based optical surface scanning system; Catalyst, a 4D surface image guided radiation therapy (SIGRT) solution; Catalyst HD, an SIGRT solution on stereotactic radiation therapy for online patient tracking before and during treatment delivery; Catalyst+, an SIGRT solution for high precision patient positioning, intra-fraction motion management, and respiratory gating; and Catalyst+ HD, a solution for high precision patient positioning, intra-fraction motion management, and respiratory gating for conventional and stereotactic treatment delivery. The company's products also comprise Catalyst Tomo, an enhanced positioning solution for tomotherapy; Catalyst PT, a real-time tracking solution for particle therapy; Cyrpa laser positioning products; cAccessory, which automates the registration and validation of treatment accessories; and cPatient that automates patient identity validation without the need for contact between patients and devices. In addition, it offers installation, application training, and aftersales services. C-Rad AB (publ) was founded in 2004 and is headquartered in Uppsala, Sweden.

How the Company Makes Money

C-Rad AB Class B Financial Statement Overview

Summary

C-Rad AB demonstrates a robust financial profile with strong revenue growth and efficient cost management, though recent profit margin compression is a concern. The balance sheet is a highlight, showing excellent financial stability and low risk due to minimal leverage. Cash flow generation is solid, though improvements in capital expenditure management could enhance free cash flow further. Overall, the company is well-positioned with strong growth prospects but must manage expenses to sustain profitability.

Income Statement

C-Rad AB exhibits a strong revenue growth trajectory with a notable Revenue Growth Rate of 55.8% in 2022, although it moderated to 11.4% in 2023. The Gross Profit Margin is robust, hitting 42.3% in TTM and consistently above 50% in prior years, indicating efficient cost management. However, the Net Profit Margin dropped significantly in TTM to 6.9% from 12% in 2024, suggesting increased expenses or pricing pressures. Overall, profitability remains strong, but recent margin compression warrants attention.

Balance Sheet

The company maintains a solid financial position with an Equity Ratio of 70.6% in TTM, demonstrating strong equity financing. The Debt-to-Equity Ratio remains low at 0.03, indicating minimal leverage and reduced financial risk. Return on Equity is healthy at 9.8% in TTM, although it has decreased from 17.4% in 2024, reflecting a slight dip in profitability. Overall, the balance sheet reflects strong financial stability and low leverage.

Cash Flow

C-Rad AB shows a positive Free Cash Flow growth of 53.8% in TTM, highlighting improved cash generation. The Operating Cash Flow to Net Income Ratio is 1.2 in TTM, indicating efficient cash conversion. However, the Free Cash Flow to Net Income Ratio is slightly below 1, at 1.1, suggesting that capital expenditures or other cash outflows are limiting free cash flow. The cash flow statement portrays strong cash generation capability but highlights areas for potential improvement in capital management.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
469.80M	469.00M	424.62M	301.33M	261.15M	221.63M
	Gross Profit
198.60M	323.00M	287.21M	205.30M	170.23M	136.89M
	EBIT
67.70M	70.24M	44.24M	21.76M	35.99M	17.08M
	EBITDA
80.80M	79.90M	53.10M	27.51M	45.71M	26.15M
	Net Income Common Stockholders
32.40M	56.45M	35.53M	7.48M	25.10M	14.37M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
129.40M	150.90M	129.36M	121.90M	122.42M	108.05M
	Total Assets
404.00M	489.36M	405.54M	339.17M	306.71M	270.52M
	Total Debt
1.80M	9.00M	1.75M	4.08M	6.37M	7.44M
	Net Debt
-127.60M	-141.90M	-127.60M	-117.82M	-116.05M	-100.61M
	Total Liabilities
122.40M	164.37M	134.36M	96.63M	75.62M	70.73M
	Stockholders Equity
281.70M	325.00M	271.18M	242.54M	231.09M	199.79M
Cash Flow		Free Cash Flow
36.00M	23.41M	16.45M	-1.53M	12.37M	11.66M
	Operating Cash Flow
38.90M	30.08M	33.38M	9.69M	18.17M	18.45M
	Investing Cash Flow
-7.20M	-6.67M	-16.93M	-11.22M	-5.80M	-6.78M
	Financing Cash Flow
-6.40M	-7.04M	-5.69M	-2.38M	1.04M	68.01M

C-Rad AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
24C		€104.94M	35.92	10.11%	―	―	―
Sector *	54 Neutral	$5.31B	3.26	-45.10%	2.79%	16.76%	0.02%
6Y1		€39.33M	―	-19.17%	―	―	―
7AC		€23.24M	―	-88.97%	―	―	―
7D2A		€109.77M	―	-5.61%	―	―	―
MN2		€48.54M	―	-17.16%	―	―	―