Apotea AB (APOTEA) AI Stock Analysis

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Apotea AB

(Nasdaq OMX AB:APOTEA)

Select Model

Rating:52Neutral

Price Target:SEK 105.00▲(4.58% Upside)

Action:reiterated

Date:11/07/26

The overall score is constrained by extremely overbought technical conditions and a stretched valuation, which present significant near-term risks. While the company's financial foundation is robust with high profitability and a pristine balance sheet, the recent deterioration in cash flow generation is a notable concern that prevents a higher score.

Positive Factors

Revenue Growth and ScaleApotea has expanded materially in both revenue and operating scale, demonstrating sustained customer demand for its online pharmacy and health assortment. Continued growth increases fulfillment leverage, broadens purchasing scale, and can support stronger earnings capacity over the next several quarters.

Negative Factors

Thin and Easing MarginsApotea remains a thin-margin retailer, so relatively small changes in pricing or operating costs can materially affect earnings. The recent gross-margin decline adds concern that profitability may be difficult to sustain if the business faces continued pressure while expanding its sales base.

Apotea AB (APOTEA) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 10.39B
Dividend Yield: 0.60%
Average Volume (3M): 241.10K
Price to Earnings (P/E): 40.5
Beta (1Y): 0.39
Revenue Growth: 10.25%
EPS Growth: -1.52%
Country: Sweden
Employees: 736
Sector: General
Sector Strength: 55
Industry: Specialty Retail

Apotea AB Business Overview & Revenue Model

Company Description

Apotea AB (publ) operates an online pharmacy in Sweden. The company offers products in the areas of allergy, face, child and parent, bite and sting, preparedness, animal, fever and aches, cold, home and household, aid, hair removal and shaving, hair...

How the Company Makes Money

Apotea makes money primarily by selling products directly to consumers via its online channels. Key revenue streams include: (1) Prescription medicines: revenue from dispensing prescription drugs ordered through Sweden’s e-prescription system and ful...

Apotea AB Financial Statement Overview

Summary

Strong revenue growth and excellent balance sheet health with a 35.2% ROE and low 0.29x debt-to-equity are offset by a sharp decline in operating cash flow and negative free cash flow growth, indicating a divergence between accrual-based earnings and cash generation.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.81B	7.20B	6.54B	5.45B	4.88B	4.56B
Gross Profit	2.10B	1.94B	1.79B	1.45B	1.27B	750.33M
EBITDA	553.80M	464.10M	399.60M	226.00M	104.80M	183.77M
Net Income	258.70M	228.70M	214.90M	87.00M	19.90M	104.49M
Balance Sheet
Total Assets	2.14B	1.98B	146.49M	132.18M	1.25B	1.02B
Cash, Cash Equivalents and Short-Term Investments	110.70M	3.31M	2.46M	1.89M	18.20M	81.38M
Total Debt	263.40M	331.00M	21.78M	25.89M	332.70M	144.33M
Total Liabilities	1.09B	1.12B	89.25M	90.14M	897.50M	684.99M
Stockholders Equity	1.03B	844.00M	55.37M	39.93M	327.50M	339.76M
Cash Flow
Free Cash Flow	132.50M	117.70M	42.40M	94.70M	-110.60M	145.82M
Operating Cash Flow	150.40M	333.30M	206.20M	215.80M	31.50M	227.30M
Investing Cash Flow	-17.90M	-214.50M	-163.70M	-121.60M	-141.40M	-81.58M
Financing Cash Flow	-120.00M	-115.30M	-34.20M	-93.30M	46.30M	-78.39M

Apotea AB Technical Analysis

Technical Analysis SentimentPositive

Last Price100.40

Price Trends

50DMA86.97Positive

100DMA80.78Positive

200DMA73.43Positive

Market Momentum

MACD4.72Negative

RSI64.12Neutral

STOCH71.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:APOTEA, the sentiment is Positive. The current price of 100.40 is above the 20-day moving average (MA) of 95.35, above the 50-day MA of 86.97, and above the 200-day MA of 73.43, indicating a bullish trend. The MACD of 4.72 indicates Negative momentum. The RSI at 64.12 is Neutral, neither overbought nor oversold. The STOCH value of 71.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:APOTEA.

Apotea AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:APOTEA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:CLAS.B	88Outperform	SEK 35.09B	28.11	41.64%	1.23%	9.82%	33.55%
SE:RUSTA	61Neutral	SEK 12.24B	20.69	―	2.25%	8.20%	40.01%
SE:DSNO	59Neutral	SEK 124.70M	-44.31	-2.54%	―	-8.90%	67.39%
SE:CDON	58Neutral	SEK 494.30M	-6.21	―	―	7.12%	8.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:APOTEA	52Neutral	SEK 10.41B	40.48	―	0.60%	10.25%	-1.52%
SE:KJELL	45Neutral	SEK 1.80B	-50.01	-2.25%	―	-2.34%	93.68%

* General Sector Average

Performance Comparison

SE:APOTEA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:APOTEA	Apotea AB	100.40	14.07	16.29%
SE:CLAS.B	Clas Ohlson AB	558.50	215.37	62.77%
SE:DSNO	Desenio Group AB	0.13	0.06	80.28%
SE:KJELL	Kjell Group AB	18.20	10.37	132.56%
SE:RUSTA	Rusta AB	79.85	15.43	23.96%
SE:CDON	CDON AB	44.00	-21.00	-32.31%

Apotea AB Corporate Events

Apotea reports stronger growth and improved profitability

Nov 5, 2026

Apotea reported third-quarter revenue of SEK 1,990.4 million, up 12.5% year on year, while operating profit rose to SEK 107.4 million and the EBIT margin improved to 5.4%. Profit for the period increased to SEK 81.8 million, although gross margin eas...

Apotea Sets Date for Q3 2026 Report and Investor Webcast

Oct 9, 2026

Apotea AB will publish its third-quarter 2026 report on 5 November at 07:30 CEST and follow up with a webcast presentation at 09:30 CEST the same day. The interim results for January to September 2026 will be presented in English by CEO Pär Svärdson,...

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.

Date of analysis: Nov 07, 2026

Apotea AB AI Stock Analysis