Codemill AB (CDMIL) AI Stock Analysis

Codemill AB

(Nasdaq OMX AB:CDMIL)

Select Model

Rating:57Neutral

Price Target:SEK 16.00▲(14.29% Upside)

Action:reiterated

Date:08/24/26

Codemill AB's overall score of 57 is deeply penalized by massive overvaluation and a persistently bearish technical trend. While the company's fundamentals offer a bright spot—highlighted by a return to profitability, a debt-free balance sheet, and robust cash flow—the astronomical P/E ratio and declining top-line revenues introduce significant risks that overshadow its fundamental resilience.

Positive Factors

Low LeverageZero reported debt and substantial equity relative to assets give Codemill a conservative financial structure. This reduces leverage-related pressure on cash flow, preserves flexibility to invest in its software offering, and improves resilience if operating conditions weaken over the next several quarters.

Negative Factors

Revenue DeclineA sharp TTM revenue contraction points to weaker demand, customer spending, or business mix and directly limits the company’s ability to scale its software platform. Sustained top-line weakness could reduce operating leverage and make the recent profitability recovery harder to maintain.

Codemill AB (CDMIL) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 190.70M
Dividend Yield: ―
Average Volume (3M): 6,387
Price to Earnings (P/E): 71.7
Beta (1Y): -0.18
Revenue Growth: -21.20%
EPS Growth: -39.49%
Country: Sweden
Employees: 39
Sector: General
Sector Strength: 55
Industry: Software - Application

Codemill AB Business Overview & Revenue Model

Company Description

Based in Umeå, Sweden, and established in 2007, CodeMill AB (publ) specializes in crafting media and video software solutions for both Swedish and global markets. The company offers Accurate.Video, a web-based platform engineered for seamless integra...

Codemill AB Financial Statement Overview

Summary

Codemill AB presents a pristine, debt-free balance sheet and strong free cash flow generation of 8.90 million in the TTM period. However, this financial stability is partially offset by ongoing revenue contraction and gross margin compression.

Income Statement

50Neutral

Balance Sheet

90Very Positive

Cash Flow

80Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	63.39M	67.19M	91.97M	78.79M	57.31M	34.64M
Gross Profit	9.64M	1.50M	40.19M	26.78M	14.02M	-4.28M
EBITDA	16.41M	17.11M	27.11M	13.20M	948.00K	-16.41M
Net Income	2.71M	-42.00K	10.94M	-2.69M	-13.69M	-28.23M
Balance Sheet
Total Assets	81.82M	79.41M	91.69M	81.19M	82.99M	98.83M
Cash, Cash Equivalents and Short-Term Investments	34.42M	28.74M	32.82M	15.66M	12.38M	28.68M
Total Debt	0	796.00K	2.40M	4.93M	6.93M	9.10M
Total Liabilities	28.18M	29.59M	34.81M	35.30M	34.40M	36.45M
Stockholders Equity	53.64M	49.82M	56.88M	45.89M	48.59M	62.38M
Cash Flow
Free Cash Flow	8.90M	0	19.92M	5.84M	-14.78M	-45.30M
Operating Cash Flow	18.50M	14.55M	28.26M	14.46M	-166.00K	-15.54M
Investing Cash Flow	-10.59M	-9.65M	-8.34M	-8.61M	-14.00M	-36.40M
Financing Cash Flow	-717.00K	-8.97M	-2.64M	-2.56M	-2.14M	53.32M

Codemill AB Technical Analysis

Technical Analysis SentimentNeutral

Last Price14.00

Price Trends

50DMA14.01Negative

100DMA14.27Negative

200DMA14.73Negative

Market Momentum

MACD-0.06Negative

RSI50.31Neutral

STOCH28.85Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CDMIL, the sentiment is Neutral. The current price of 14.00 is below the 20-day moving average (MA) of 14.03, below the 50-day MA of 14.01, and below the 200-day MA of 14.73, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 50.31 is Neutral, neither overbought nor oversold. The STOCH value of 28.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:CDMIL.

Codemill AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:CDMIL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:UPSALE	82Outperform	SEK 463.06M	16.98	―	7.91%	11.34%	40.60%
SE:LIME	79Outperform	SEK 3.62B	29.42	32.20%	1.57%	8.57%	17.98%
SE:VIT.B	75Outperform	SEK 12.31B	25.95	9.27%	1.18%	5.55%	18.93%
SE:LITI	60Neutral	SEK 185.37M	-103.68	-1.46%	―	26.50%	-137.53%
SE:CDMIL	57Neutral	SEK 190.70M	71.68	―	―	-21.20%	-39.49%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

SE:CDMIL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:CDMIL	Codemill AB	14.00	-2.90	-17.16%
SE:LITI	Litium AB	9.58	-2.42	-20.17%
SE:LIME	Lime Technologies AB	271.00	-90.35	-25.00%
SE:VIT.B	Vitec Software Group AB Class B	308.60	-17.63	-5.40%
SE:UPSALE	Upsales Technology AB	27.50	-4.59	-14.29%

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: Aug 24, 2026

Codemill AB AI Stock Analysis