BICO Group AB Class B AI Stock Analysis
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BICO Group AB Class B (BICO) AI Stock Analysis
BICO Group AB Class B
(Nasdaq OMX AB:BICO)
The score is held back primarily by weak financial performance—large ongoing losses and deteriorating free cash flow despite strong recent revenue growth. Technicals are supportive with the stock trading above key moving averages and positive momentum indicators. Earnings call takeaways were mixed: strong growth and restructuring progress were tempered by one-time profit benefits, negative operating cash flow, and significant Biosero-related issues. Valuation is difficult to support on earnings due to the negative P/E and no dividend yield provided.
BICO Group AB Class B (BICO) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 175.62M
- Dividend Yield
- ―
- Average Volume (3M)
- 368.76K
- Price to Earnings (P/E)
- -5.2
- Beta (1Y)
- 1.12
- Revenue Growth
- -15.45%
- EPS Growth
- -164.23%
- Country
- Sweden
- Employees
- 554
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Devices
BICO Group AB Class B Business Overview & Revenue Model
Company Description
BICO Group AB (publ) is a global bio-convergence enterprise, extending its operations across North America, Europe, Asia, and other international markets. Its business is segmented into two primary divisions: Laboratory Solutions and Bioautomation. T...
How the Company Makes Money
BICO makes money primarily by selling life science tools, laboratory instruments, consumables, and related services to customers such as biotech and pharmaceutical companies, contract research organizations, and academic or research institutions. Its...
BICO Group AB Class B Earnings Call Summary
The call presented a strong Q3 with 19% organic sales growth, 14% growth in own benchtop instruments, a 27% adjusted EBITDA margin, restructuring progress, and a clear new precision-biology strategy. However, reported profitability benefited materially from a one-time SCIENION agreement, operating cash flow was negative, working capital was elevated, academic demand remained weak, and Biosero required a substantial SEK 296 million impairment and strategic reassessment. Overall, the positive operating momentum and strategic clarity were offset by significant execution, cash conversion, and Biosero-related challenges.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
BICO reconfirmed its long-term financial targets of double-digit organic growth in constant currencies, an EBITDA margin less capitalized development costs above 10%, and net debt-to-EBITDA below 3x, with new long-term financial targets to be defined once the current targets have been achieved. The restructuring program is expected to generate around SEK 30 million in annual savings, with the full effect expected later in Q4. Management said it does not give forecasts, expects the margin to be around the same level, and will ramp up for key product launches in 2027.
BICO Group AB Class B Financial Statement Overview
Summary
Revenue growth in the latest TTM is strong and gross margin improved, but profitability remains very weak (deeply negative net margin and negative operating profitability). Leverage looks more manageable in TTM, yet strongly negative ROE and deteriorating free cash flow (slightly negative, with weaker momentum vs 2024–2025) keep financial risk elevated.
Income Statement
22NegativeBalance Sheet
48NeutralCash Flow
36Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.50B | 1.50B | 1.95B | 2.01B | 2.24B | 1.26B |
| Gross Profit | 686.00M | 581.90M | 1.01B | 993.20M | 1.83B | 1.00B |
| EBITDA | -1.06B | -34.90M | 505.30M | 442.80M | 322.30M | 31.80M |
| Net Income | -839.20M | -1.09B | -5.50M | -1.17B | -835.70M | -229.20M |
Balance Sheet | ||||||
| Total Assets | 2.83B | 3.70B | 5.48B | 6.06B | 10.20B | 9.75B |
| Cash, Cash Equivalents and Short-Term Investments | 627.60M | 1.28B | 598.00M | 804.10M | 925.20M | 1.48B |
| Total Debt | 266.40M | 1.50B | 1.76B | 1.96B | 1.85B | 1.61B |
| Total Liabilities | 1.27B | 1.95B | 2.48B | 2.96B | 3.26B | 2.95B |
| Stockholders Equity | 1.57B | 1.75B | 2.98B | 3.07B | 6.91B | 6.77B |
Cash Flow | ||||||
| Free Cash Flow | -5.90M | 55.10M | 72.70M | -112.80M | -799.00M | -676.20M |
| Operating Cash Flow | 11.30M | 68.40M | 158.40M | 178.40M | -269.40M | -409.20M |
| Investing Cash Flow | 739.40M | 709.30M | 128.00M | -129.70M | 212.90M | -4.45B |
| Financing Cash Flow | -778.50M | -455.10M | -200.70M | -102.00M | 455.30M | 4.90B |
BICO Group AB Class B Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BICO, the sentiment is Negative. The current price of 16.76 is below the 20-day moving average (MA) of 23.77, below the 50-day MA of 22.76, and below the 200-day MA of 18.70, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 23.94 is Positive, neither overbought nor oversold. The STOCH value of 43.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BICO.
BICO Group AB Class B Peers Comparison
Overall Rating
SE:CEVI83Outperform
SE:BONEX81Outperform
SE:XVIVO64Neutral
SE:VITR63Neutral- SE:BICO54Neutral
SE:OSSD45Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:CEVI | 83Outperform | SEK 4.84B | 35.03 | 15.23% | 1.36% | 1.95% | -8.91% |
| SE:BONEX | 81Outperform | SEK 20.71B | 77.58 | 29.00% | ― | 25.20% | 79.34% |
| SE:XVIVO | 64Neutral | SEK 6.43B | 50.37 | 5.89% | ― | 17.83% | 330.94% |
| SE:VITR | 63Neutral | SEK 16.01B | -3.23 | -61.57% | 0.93% | -1.94% | -1223.74% |
| SE:BICO | 54Neutral | SEK 1.74B | -5.19 | -49.84% | ― | -15.45% | -164.23% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| SE:OSSD | 45Neutral | SEK 413.19M | -8.10 | ― | ― | -11.89% | -11.85% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:BICO | BICO Group AB Class B | 16.76 | -3.28 | -16.37% | |
| SE:VITR | Vitrolife AB | 118.30 | -21.76 | -15.53% | |
| SE:BONEX | BONESUPPORT HOLDING AB | 320.40 | 114.20 | 55.38% | |
| SE:CEVI | CellaVision AB | 202.50 | 45.59 | 29.05% | |
| SE:XVIVO | Xvivo Perfusion AB | 206.00 | 39.60 | 23.80% | |
| SE:OSSD | OssDsign AB | 3.67 | -7.24 | -66.38% |
BICO Group AB Class B Corporate Events
BICO Launches 2030 Strategy, Changes Executive Management
BICO Group focuses on Precision Biology technologies and workflows for life-science laboratories, including instruments and products for precise handling, culture, automation and analysis of biological material. Its lead market is cell-based applicat...
BICO reports Q3 sales growth and higher adjusted EBITDA
Third-quarter net sales rose 20.2% year on year to SEK 465.2m, while adjusted EBITDA reached SEK 124.3m, compared with SEK 17.0m a year earlier. Revenue from SCIENION supply and license agreements totaled SEK 135m, including SEK 83m in license revenu...
BICO to Present Third-Quarter 2026 Interim Report
BICO announced that its third-quarter 2026 interim report will be published on November 11 at 07:00 CET. An English-language presentation, webcast and question-and-answer conference with senior management will follow, providing investors with access...
BICO Calls Extraordinary Meeting to Propose Board Changes
BICO Group, headquartered in Gothenburg, will hold an extraordinary general meeting on December 7, 2026, offering shareholders in-person and postal-voting options. Eligibility requires registration in the Euroclear share register as of November 27 an...
BICO folds Cellenion into SCIENION to sharpen precision biotech focus
BICO Group AB has completed the integration of single-cell specialist Cellenion into its precision dispensing unit SCIENION, consolidating the two businesses, technologies, and teams under one brand. The move retires the Cellenion name and brings pro...
BICO lifts margins on stronger benchtop sales, restructures project business amid AI-driven push
BICO Group AB reported Q2 2026 net sales of SEK 336.1 million, up 3.7 percent year-on-year, with strong organic growth of 7.3 percent driven by benchtop instruments and consumables despite currency headwinds and soft academic demand. Adjusted EBITDA...
BICO Group Names Chief Commercial Officer Anders Fogelberg as New CEO
BICO Group AB has announced a leadership change, appointing current Chief Commercial Officer Anders Fogelberg as President and CEO effective September 1, 2026, following a joint decision by the Board and outgoing CEO Maria Forss that the timing is ri...
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 11, 2026