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Athanase Innovation AB
(ATIN)
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Rating:47Neutral
Price Target:
kr17.50
▼(-15.05% Downside)
Action:Reiterated
Date:10/16/26
The score is held down primarily by weak profitability and ongoing cash burn, which outweigh the benefit of a strong, low-debt balance sheet. Technical indicators also suggest weak near-term momentum (oversold RSI and negative MACD), while valuation signals are constrained by negative earnings (negative P/E) and no provided dividend yield.
Positive Factors
Debt-Free Balance Sheet
Effectively no debt materially lowers solvency and refinancing risk, giving ATIN greater flexibility while it develops its portfolio holdings. A lightly leveraged balance sheet also reduces fixed financial obligations, which can help preserve strategic options during periods of weak profitability or uneven cash generation.
Negative Factors
Severe Unprofitability
Deeply negative gross profit, operating results, and net income indicate that the current business model is not converting activity into durable earnings. Persistently weak margins limit internal funding capacity, reduce the value of revenue growth, and make future performance highly dependent on a meaningful improvement in operating discipline.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Effectively no debt materially lowers solvency and refinancing risk, giving ATIN greater flexibility while it develops its portfolio holdings. A lightly leveraged balance sheet also reduces fixed financial obligations, which can help preserve strategic options during periods of weak profitability or uneven cash generation.
Read all positive factors
Athanase Innovation AB (ATIN) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr347.36M
Dividend Yield56.54%
Average Volume (3M)15.00
Price to Earnings (P/E)―
Beta (1Y)0.35
Revenue Growth-57.62%
EPS Growth19.14%
CountrySE
Employees27
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-2.30
Shares Outstanding19,297,642
10 Day Avg. Volume17
30 Day Avg. Volume15
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.81
Price to Sales (P/S)9.42
P/FCF Ratio-5.15
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
Athanase Innovation AB Business Overview & Revenue Model
Company Description
Established in 2016, Athanase Innovation AB is a Stockholm-based alternative investment firm dedicated to funding businesses that lead the way in robotics, digitalization, and automation within Sweden....
Athanase Innovation AB Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
72
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.38M | 36.86M | 176.83M | 40.60M | 6.38M | 7.06M |
| Gross Profit | -65.03M | -95.53M | 74.94M | 17.78M | -84.02M | -31.01M |
| EBITDA | -57.73M | -67.29M | 696.00K | -63.41M | -108.04M | -18.75M |
| Net Income | -44.31M | -57.62M | -19.64M | -56.26M | -114.53M | -26.55M |
Balance Sheet | ||||||
| Total Assets | 472.34M | 481.31M | 551.97M | 683.18M | 827.25M | 918.70M |
| Cash, Cash Equivalents and Short-Term Investments | 347.48M | 245.39M | 310.64M | 457.25M | 644.36M | 746.92M |
| Total Debt | 0.00 | 0.00 | 0.00 | 328.00K | 422.00K | 515.00K |
| Total Liabilities | 66.61M | 53.90M | 67.20M | 49.09M | 35.36M | 11.30M |
| Stockholders Equity | 405.32M | 427.20M | 484.76M | 634.09M | 791.89M | 907.40M |
Cash Flow | ||||||
| Free Cash Flow | -7.25M | -67.46M | -14.96M | -83.58M | -45.70M | -14.95M |
| Operating Cash Flow | -65.86M | -65.63M | -14.96M | -83.40M | -43.65M | -14.89M |
| Investing Cash Flow | 140.01M | -2.79M | -1.49M | 5.90M | -64.98M | -159.47M |
| Financing Cash Flow | 2.16M | 3.20M | -129.63M | -101.84M | -1.03M | 920.80M |
Athanase Innovation AB Technical Analysis
Negative
20.60
Price Trends
20.01
Negative
19.74
Negative
17.12
Positive
Market Momentum
-0.48
Positive
0.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ATIN, the sentiment is Negative. The current price of 20.6 is above the 20-day moving average (MA) of 19.60, above the 50-day MA of 20.01, and above the 200-day MA of 17.12, indicating a neutral trend. The MACD of -0.48 indicates Positive momentum. The RSI at 0.74 is Positive, neither overbought nor oversold. The STOCH value of 0.00 is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ATIN.
Athanase Innovation AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr11.26B | 5.75 | 16.53% | 1.93% | 6.97% | 50.85% | |
58 Neutral | kr6.56B | 15.63 | 7.28% | 2.18% | 1359.94% | 4701.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr1.77B | 55.95 | ― | ― | ― | ― | |
47 Neutral | kr347.36M | -7.83 | ― | 56.54% | -57.62% | 19.14% |
* General Sector Average
SE:ATIN
Athanase Innovation AB
18.00
-2.00
-10.00%
SE:CRED.A
Creades AB
82.95
9.18
12.45%
SE:SVOL.B
Svolder AB Class B
62.05
7.61
13.97%
SE:MTI
MTI Investment AB
0.61
-0.40
-39.50%
SE:VEFAB
VEF AB
1.70
-0.52
-23.33%
SE:BMC
Brock Milton Capital AB
95.00
-12.43
-11.57%
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.