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CDON AB
(CDON)
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Rating:48Neutral
Price Target:
kr41.00
▼(-25.18% Downside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by ongoing operating losses and a weak technical trend (price below key moving averages with negative MACD). These risks are partially offset by improved revenue momentum, very strong gross margins, positive recent operating/free cash flow, and a conservative balance sheet with no debt.
Positive Factors
Marketplace model
CDON’s marketplace model lets it facilitate transactions without operating as a traditional retailer, while providing storefront and merchant tools. This platform-based structure can support broader product selection and transaction growth as merchant participation and customer usage expand.
Negative Factors
Persistent operating losses
Persistent EBIT and net losses show that CDON has not yet converted its marketplace and high gross-margin economics into sustainable operating profitability. Continued losses can consume capital, constrain investment capacity, and make future performance dependent on execution rather than established earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
Marketplace model
CDON’s marketplace model lets it facilitate transactions without operating as a traditional retailer, while providing storefront and merchant tools. This platform-based structure can support broader product selection and transaction growth as merchant participation and customer usage expand.
Read all positive factors
CDON AB (CDON) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr490.92M
Dividend YieldN/A
Average Volume (3M)1.42K
Price to Earnings (P/E)―
Beta (1Y)0.76
Revenue Growth7.99%
EPS Growth33.84%
CountrySE
Employees74
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-5.71
Shares Outstanding11,259,717
10 Day Avg. Volume424
30 Day Avg. Volume1,415
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.23
Price to Sales (P/S)1.55
P/FCF Ratio-116.70
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)-5.05
Revenue Forecast (FY)kr452.01M
CDON AB Business Overview & Revenue Model
Company Description
CDON AB operates a major digital marketplace throughout the Nordic region. This platform empowers consumers to effortlessly purchase and compare prices for millions of products offered by a wide array of online retailers across the Nordics. Its ex...
How the Company Makes Money
CDON primarily makes money through its marketplace model by monetizing transactions and services provided to third-party merchants. Key revenue streams typically include: (1) commissions/fees on gross merchandise value (GMV), where CDON takes a pe...
CDON AB Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
74
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 457.00M | 444.00M | 435.20M | 468.70M | 461.20M | 542.20M |
| Gross Profit | 381.90M | 365.60M | 333.00M | 323.40M | 227.10M | 226.90M |
| EBITDA | -12.70M | 10.70M | -26.90M | -7.30M | -146.20M | -60.70M |
| Net Income | -64.90M | -56.80M | -110.90M | -68.60M | -149.90M | -62.60M |
Balance Sheet | ||||||
| Total Assets | 744.90M | 802.40M | 864.60M | 954.30M | 237.70M | 371.00M |
| Cash, Cash Equivalents and Short-Term Investments | 140.70M | 149.60M | 144.90M | 153.80M | 123.10M | 202.90M |
| Total Debt | 0.00 | 0.00 | 7.10M | 6.40M | 0.00 | 0.00 |
| Total Liabilities | 235.10M | 241.60M | 288.70M | 267.20M | 193.20M | 174.20M |
| Stockholders Equity | 509.80M | 560.80M | 576.00M | 687.10M | 44.50M | 189.90M |
Cash Flow | ||||||
| Free Cash Flow | 31.60M | -5.90M | -8.80M | -1.00M | -78.10M | -127.00M |
| Operating Cash Flow | 43.70M | -5.80M | 15.20M | -700.00K | -56.00M | -105.40M |
| Investing Cash Flow | -26.60M | -24.90M | -24.00M | 23.80M | -23.40M | -52.90M |
| Financing Cash Flow | 41.90M | 35.40M | 0.00 | 7.50M | 100.00K | 188.40M |
CDON AB Technical Analysis
Negative
54.80
Price Trends
50.78
Negative
57.66
Negative
63.14
Negative
Market Momentum
-2.13
Negative
33.20
Neutral
53.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CDON, the sentiment is Negative. The current price of 54.8 is above the 20-day moving average (MA) of 45.57, above the 50-day MA of 50.78, and below the 200-day MA of 63.14, indicating a bearish trend. The MACD of -2.13 indicates Negative momentum. The RSI at 33.20 is Neutral, neither overbought nor oversold. The STOCH value of 53.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CDON.
CDON AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr27.49B | 21.72 | 41.64% | 1.60% | 9.82% | 33.55% | |
68 Neutral | kr1.15B | 13.26 | ― | 5.37% | 3.43% | 69.60% | |
66 Neutral | kr9.05B | 36.12 | ― | 0.70% | 9.35% | -91.93% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr3.55B | 40.37 | ― | ― | 7.07% | ― | |
51 Neutral | kr1.51B | -2.41 | -45.33% | ― | -5.59% | -1230.42% | |
48 Neutral | kr490.92M | -7.23 | ― | ― | 7.99% | 33.84% |
* General Sector Average
SE:CDON
CDON AB
41.30
-32.30
-43.89%
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19.88
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-26.64%
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-1.42%
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70.80
6.93
10.84%
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.