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Aino Health AB
(AINO)
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Rating:43Neutral
Price Target:
kr0.19
▲(5.00% Upside)
Action:Reiterated
Date:10/07/26
The score is primarily constrained by weak financial fundamentals—persistent losses, ongoing cash burn, and especially the negative equity position with debt exceeding assets, which elevates financing risk. Technical indicators are mixed and provide only limited support, while valuation is difficult to justify due to negative earnings and no dividend yield.
Positive Factors
Digital employer health platform
A focused digital health offering gives Aino a defined business model serving employers and occupational-health stakeholders. By combining software, reporting, and related services around absenteeism and work ability, the company can embed its solution in recurring workplace processes and retain strategic relevance.
Negative Factors
Negative equity and thin capital base
The equity deficit and debt exceeding assets leave Aino with very limited financial flexibility. This weak capital structure increases refinancing and funding risk if operating losses continue, while also restricting the company’s ability to invest in growth without relying on external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Digital employer health platform
A focused digital health offering gives Aino a defined business model serving employers and occupational-health stakeholders. By combining software, reporting, and related services around absenteeism and work ability, the company can embed its solution in recurring workplace processes and retain strategic relevance.
Read all positive factors
Aino Health AB (AINO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr50.32M
Dividend YieldN/A
Average Volume (3M)25.30K
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth-11.53%
EPS Growth-53.21%
CountrySE
Employees18
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.05
Shares Outstanding204,569,100
10 Day Avg. Volume29,758
30 Day Avg. Volume25,305
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)-5.45
Price to Sales (P/S)1.34
P/FCF Ratio-14.49
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)N/A
Revenue Forecast (FY)N/A
Aino Health AB Business Overview & Revenue Model
Company Description
Aino Health AB (publ), a Swedish company based in Stockholm, specializes in delivering comprehensive corporate health management solutions to both private and public organizations throughout Finland. Their flagship offering is HealthManager, a Sof...
How the Company Makes Money
Aino Health AB primarily makes money by selling its digital health/absence-management solution and related services to business customers (employers/organizations). Revenue is generated through customer contracts for access to the company’s platfo...
Aino Health AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.50M | 26.11M | 23.94M | 23.92M | 19.91M | 23.04M |
| Gross Profit | 6.04M | -4.27M | 21.51M | 3.80M | 17.77M | 21.56M |
| EBITDA | -6.01M | -2.33M | -6.21M | -7.53M | -12.26M | -12.09M |
| Net Income | -9.79M | -6.11M | -9.91M | -10.66M | -14.96M | -15.22M |
Balance Sheet | ||||||
| Total Assets | 4.87M | 9.70M | 9.86M | 13.51M | 17.33M | 19.02M |
| Cash, Cash Equivalents and Short-Term Investments | 1.92M | 5.81M | 741.00K | 1.44M | 2.16M | 453.00K |
| Total Debt | 7.98M | 8.32M | 170.00K | 164.00K | 659.00K | 1.06M |
| Total Liabilities | 16.20M | 16.12M | 10.32M | 14.37M | 19.57M | 16.44M |
| Stockholders Equity | -11.33M | -6.42M | -458.00K | -851.00K | -2.23M | 2.58M |
Cash Flow | ||||||
| Free Cash Flow | -6.04M | -2.41M | -4.55M | -6.26M | -12.87M | -8.11M |
| Operating Cash Flow | -6.04M | -2.41M | -4.55M | -6.26M | -12.87M | -8.11M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 1.32M | 0.00 |
| Financing Cash Flow | 7.21M | 7.62M | 3.82M | 5.57M | 13.19M | -450.00K |
Aino Health AB Technical Analysis
Neutral
0.18
Price Trends
0.20
Negative
0.18
Positive
0.17
Positive
Market Momentum
<0.01
Positive
44.58
Neutral
65.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AINO, the sentiment is Neutral. The current price of 0.18 is below the 20-day moving average (MA) of 0.21, below the 50-day MA of 0.20, and above the 200-day MA of 0.17, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.58 is Neutral, neither overbought nor oversold. The STOCH value of 65.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:AINO.
Aino Health AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr2.61B | 29.13 | ― | ― | 8.40% | 0.74% | |
71 Outperform | kr3.50B | 20.88 | 5.55% | 1.83% | -3.48% | -14.02% | |
55 Neutral | kr43.18M | -42.07 | -1.94% | ― | 0.97% | 41.35% | |
52 Neutral | kr159.36M | -1.67 | ― | ― | -14.52% | -18.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | kr322.13M | -1.29 | -60.76% | ― | 79.55% | 90.21% | |
43 Neutral | kr50.32M | -4.10 | 133.94% | ― | -11.53% | -53.21% |
* Healthcare Sector Average
SE:AINO
Aino Health AB
0.20
0.01
5.21%
SE:HUM
Humana AB
72.60
31.42
76.29%
SE:QLINEA
Q-linea AB
16.65
-9.28
-35.80%
SE:KONT
Kontigo Care AB
1.19
-0.72
-37.70%
SE:SUS
Surgical Science Sweden AB
53.30
-34.70
-39.43%
SE:PTRK
Physitrack Limited
9.68
-7.47
-43.56%
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.