CirChem AB (CIRCHE) AI Stock Analysis

CirChem AB

(Nasdaq OMX AB:CIRCHE)

Select Model

Rating:38Underperform

Price Target:SEK 0.40▼(-12.78% Downside)

Action:reiterated

Date:10/03/26

CirChem's precarious score is driven primarily by fundamental weaknesses, including plunging revenues, widening net losses, and significant cash bleed. While the company maintains manageable leverage, heavily bearish technical momentum and negative valuation metrics present substantial risks to investors.

Positive Factors

Circular-chemistry focusCirChem’s stated circular-chemistry model is centered on recovering chemical products and materials for industrial reuse. That gives the company a defined business identity in waste management and aligns its activities with resource-reuse applications over the medium term.

Negative Factors

Severe profitability deteriorationDeeply negative gross, operating, and net margins show that the current revenue base is not covering the company’s cost structure. Unless margins recover materially, ongoing losses can erode equity, restrict investment capacity, and weaken the durability of the business model.

CirChem AB (CIRCHE) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 29.95M
Dividend Yield: ―
Average Volume (3M): 46.87K
Price to Earnings (P/E): -1.0
Beta (1Y): -0.13
Revenue Growth: -69.60%
EPS Growth: -937.97%
Country: Sweden
Employees: 10
Sector: Industrials
Sector Strength: 63
Industry: Waste Management

CirChem AB Business Overview & Revenue Model

Company Description

CirChem AB (publ) focuses on the reclamation of spent industrial solvents across Sweden. The company collects and purifies these used chemicals, preparing them for reuse, and furthermore produces other chemical solutions such as windshield washer flu...

CirChem AB Financial Statement Overview

Summary

Severe operational challenges, plunging top-line revenues, and unremitting cash burn heavily weigh down the score, offset only slightly by a low-debt balance sheet.

Income Statement

15Very Negative

Balance Sheet

60Neutral

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.18M	9.96M	20.66M	5.75M	590.62K	85.55K
Gross Profit	-12.35M	-7.93M	19.53M	3.04M	2.92M	2.62M
EBITDA	-16.02M	-10.12M	374.00K	-15.52M	-19.87M	-16.74M
Net Income	-18.14M	-12.05M	-1.07M	-17.14M	-25.50M	-19.48M
Balance Sheet
Total Assets	64.35M	69.47M	61.18M	59.11M	50.30M	52.14M
Cash, Cash Equivalents and Short-Term Investments	8.12M	13.65M	11.93M	16.58M	9.78M	14.57M
Total Debt	11.56M	20.52M	8.92M	8.92M	1.75M	2.00M
Total Liabilities	26.15M	25.14M	15.49M	24.00M	25.17M	25.77M
Stockholders Equity	38.21M	44.33M	45.68M	35.10M	25.13M	26.37M
Cash Flow
Free Cash Flow	-17.08M	-20.57M	-12.85M	-27.48M	-25.27M	-5.47M
Operating Cash Flow	-11.60M	-13.70M	-6.38M	-26.68M	-21.49M	-2.78M
Investing Cash Flow	-5.49M	-6.88M	-6.47M	-798.49K	-3.78M	-2.69M
Financing Cash Flow	18.35M	22.29M	8.20M	34.29M	20.48M	-2.04M

CirChem AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.45

Price Trends

50DMA0.55Negative

100DMA0.62Negative

200DMA0.80Negative

Market Momentum

MACD-0.03Positive

RSI44.40Neutral

STOCH32.49Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CIRCHE, the sentiment is Negative. The current price of 0.45 is below the 20-day moving average (MA) of 0.48, below the 50-day MA of 0.55, and below the 200-day MA of 0.80, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 44.40 is Neutral, neither overbought nor oversold. The STOCH value of 32.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CIRCHE.

CirChem AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

SE:CIRCHE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SE:SES	43Neutral	SEK 154.31M	-0.30	-169.96%	―	-85.56%	-528.21%
SE:BIOEX	42Neutral	SEK 115.51M	-5.39	-116.56%	―	-37.50%	1.01%
SE:SALT.B	40Underperform	SEK 949.33M	-10.62	-43.17%	―	-8.88%	-10.62%
SE:CIRCHE	38Underperform	SEK 29.95M	-1.04	-42.40%	―	-69.60%	-937.97%
SE:FREEM	38Underperform	SEK 402.57M	-3.47	-52.39%	―	23.50%	37.20%

* Industrials Sector Average

Performance Comparison

SE:CIRCHE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:CIRCHE	CirChem AB	0.47	-0.83	-63.89%
SE:SES	Scandinavian Enviro Systems AB	0.12	-0.92	-88.80%
SE:FREEM	Freemelt Holding AB	1.77	-0.07	-3.86%
SE:SALT.B	SaltX Technology Holding AB Class B	4.12	-1.97	-32.43%
SE:BIOEX	Bioextrax AB	2.34	0.07	3.31%
SE:META	Metacon AB	0.10	-0.41	-81.30%

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 03, 2026

CirChem AB AI Stock Analysis