Boho Group AB (publ) (BOHO) AI Stock Analysis

Boho Group AB (publ)

(Nasdaq OMX AB:BOHO)

Select Model

Rating:25Underperform

Price Target:SEK 6.00▼(-19.79% Downside)

Action:reiterated

Date:10/23/26

Boho Group scores at the low end of the range. The dominant factor is severely weak financial performance: collapsing revenue, near-zero gross margins, persistent losses that have eroded nearly half the equity base, rising leverage, and negative operating and free cash flow — a dangerous combination for a developer dependent on project financing. Technicals reinforce the negative picture, with the price below all major moving averages and negative MACD, though deeply oversold RSI and Stochastic readings leave room for a short-term bounce. Valuation provides no cushion: earnings are negative so the P/E is not meaningful, and there is no dividend. A credible turnaround with evidence of pipeline execution and restored cash generation would be needed before the risk profile improves.

Positive Factors

Positive EquityPositive shareholder equity provides some balance-sheet resilience despite recent losses and higher leverage. This reduces immediate insolvency concerns and leaves the company with a capital base that could support recovery, although returns remain inadequate and equity has been eroded.

Negative Factors

Persistent LossesPersistent losses and a roughly 4% TTM gross margin show that the current business model is not producing adequate economic returns. Continued weak profitability limits internally generated capital, increases dependence on financing, and makes earnings recovery highly dependent on improved project outcomes.

Boho Group AB (publ) (BOHO) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 431.57M
Dividend Yield: ―
Average Volume (3M): 5,246
Price to Earnings (P/E): -16.5
Beta (1Y): 0.28
Revenue Growth: -15.73%
EPS Growth: 26.82%
Country: Sweden
Employees: 95
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

Boho Group AB (publ) Business Overview & Revenue Model

Company Description

Boho Group AB (publ) specializes in the development and management of hotels and restaurants, with its operations spanning Spain and the wider European region. A key asset is the Boho Club, an exclusive boutique resort located on Marbella's prestigio...

How the Company Makes Money

null

Boho Group AB (publ) Financial Statement Overview

Summary

Fundamentals are deeply distressed. Revenue has collapsed more than 65% from the 2023 peak, gross margins have fallen from ~19% to under 2%, and the company has posted net losses in five of the last six periods (net margin around -29%). Leverage has risen to 1.56x debt-to-equity while equity has nearly halved to SEK 126M, with return on equity at -19% to -23%. Operating cash flow is negative (-SEK 4.9M TTM) with negative free cash flow, making the 2024 positive year look like a one-off project-driven outlier. For a capital-intensive real estate developer, this mix of shrinking revenue, vanishing margins, rising leverage and cash burn raises genuine liquidity and going-concern risk.

Income Statement

12Very Negative

Balance Sheet

28Negative

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	105.55M	111.93M	164.25M	329.79M	203.39M	156.48M
Gross Profit	2.99M	2.21M	5.19M	63.25M	-1.43M	-9.29M
EBITDA	664.00K	-4.55M	-5.83M	52.70M	43.56M	18.55M
Net Income	-26.34M	-32.88M	-44.69M	6.63M	-41.92M	-54.50M
Balance Sheet
Total Assets	365.63M	360.23M	418.35M	516.10M	547.90M	596.14M
Cash, Cash Equivalents and Short-Term Investments	8.68M	10.79M	33.65M	37.17M	18.91M	48.74M
Total Debt	223.15M	204.90M	207.96M	223.58M	271.90M	288.44M
Total Liabilities	240.12M	217.24M	225.57M	277.63M	307.52M	349.36M
Stockholders Equity	125.51M	142.98M	192.79M	238.48M	240.38M	246.78M
Cash Flow
Free Cash Flow	-8.42M	-7.70M	54.56M	6.58M	-44.77M	21.33M
Operating Cash Flow	-4.87M	-5.39M	56.33M	7.79M	-41.51M	22.37M
Investing Cash Flow	-5.79M	-13.52M	-37.80M	56.91M	-21.80M	44.19M
Financing Cash Flow	10.07M	-2.22M	-23.13M	-46.33M	-40.72M	-35.00M

Boho Group AB (publ) Technical Analysis

Technical Analysis SentimentPositive

Last Price7.48

Price Trends

50DMA7.34Positive

100DMA7.66Negative

200DMA8.26Negative

Market Momentum

MACD-0.04Negative

RSI57.95Neutral

STOCH44.58Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BOHO, the sentiment is Positive. The current price of 7.48 is above the 20-day moving average (MA) of 7.01, above the 50-day MA of 7.34, and below the 200-day MA of 8.26, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 57.95 is Neutral, neither overbought nor oversold. The STOCH value of 44.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BOHO.

Boho Group AB (publ) Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:BOHO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SOLNA	64Neutral	SEK 443.68M	9.05	―	6.78%	2.81%	12.44%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:BONAS	51Neutral	SEK 358.12M	10.33	―	―	41.00%	62.83%
SE:STUDBO	43Neutral	SEK 804.81M	-35.11	―	―	4.83%	-109.13%
SE:BOHO	25Underperform	SEK 391.19M	-16.52	―	―	-15.73%	26.82%

* General Sector Average

Performance Comparison

SE:BOHO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:BOHO	Boho Group AB (publ)	7.48	-0.22	-2.86%
SE:BESQAB	Aros Bostadsutveckling AB	24.20	-0.70	-2.81%
SE:SOLNA	Solnaberg Property AB	118.00	3.07	2.67%
SE:STUDBO	Studentbostader i Norden AB	1.16	-0.57	-33.24%
SE:BONAS	Bonasudden Holding AB	136.00	0.00	0.00%
SE:KAPIAB	Kallebaeck Property Invest AB	201.00	10.58	5.56%

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.

Date of analysis: Oct 23, 2026

Boho Group AB (publ) AI Stock Analysis