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C-Rad AB Class B
(CRAD.B)
Select Model
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Rating:56Neutral
Price Target:
kr24.00
▼(-31.43% Downside)
Action:Reiterated
Date:10/24/26
The score is held back primarily by very weak technical momentum (price well below key moving averages, negative MACD, and extremely low RSI), alongside mixed fundamentals driven by contracting TTM revenue and materially weaker free cash flow. These negatives are partially offset by a very strong, low-leverage balance sheet and a reasonable P/E valuation.
Positive Factors
Conservative balance sheet
Very low leverage gives C-Rad substantial financial flexibility and limits refinancing risk as it funds operations and growth. A conservative capital structure also reduces dependence on external financing, allowing the company to withstand uneven earnings or cash conversion without excessive balance-sheet strain.
Negative Factors
Contracting revenue
A shrinking top line is a fundamental concern because it suggests current demand or deployment activity is not expanding at the pace required to support durable growth. Continued contraction could reduce operating leverage, limit reinvestment capacity, and make future earnings more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives C-Rad substantial financial flexibility and limits refinancing risk as it funds operations and growth. A conservative capital structure also reduces dependence on external financing, allowing the company to withstand uneven earnings or cash conversion without excessive balance-sheet strain.
Read all positive factors
C-Rad AB Class B (CRAD.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr783.39M
Dividend Yield0.43%
Average Volume (3M)75.91K
Price to Earnings (P/E)16.5
Beta (1Y)0.66
Revenue Growth-8.76%
EPS Growth103.87%
CountrySE
Employees98
SectorHealthcare
Sector Strength45
IndustryMedical - Specialties
Share Statistics
EPS (TTM)1.41
Shares Outstanding32,904,050
10 Day Avg. Volume161,304
30 Day Avg. Volume75,908
Financial Highlights & Ratios
PEG Ratio-1.27
Price to Book (P/B)3.12
Price to Sales (P/S)2.45
P/FCF Ratio21.52
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)2.07
Revenue Forecast (FY)kr443.56M
C-Rad AB Class B Business Overview & Revenue Model
Company Description
C-Rad AB (publ) develops, manufactures, and sells products and systems with applications in radiotherapy for the treatment of cancer in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company offers Catalyst+ HD, a patient...
How the Company Makes Money
C-Rad makes money primarily by selling and supporting SGRT solutions used by radiotherapy clinics. The company’s revenue model typically includes (1) system sales—installation of SGRT hardware (e.g., optical camera units and associated components)...
C-Rad AB Class B Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 417.60M | 441.90M | 469.00M | 424.62M | 301.33M | 261.15M |
| Gross Profit | 181.70M | 306.00M | 323.24M | 287.21M | 205.30M | 170.23M |
| EBITDA | 64.60M | 55.33M | 89.94M | 53.17M | 31.87M | 45.71M |
| Net Income | 47.50M | 10.50M | 56.45M | 35.53M | 7.48M | 25.10M |
Balance Sheet | ||||||
| Total Assets | 511.10M | 500.80M | 489.36M | 405.54M | 339.17M | 306.71M |
| Cash, Cash Equivalents and Short-Term Investments | 144.20M | 171.20M | 150.90M | 129.36M | 121.90M | 122.42M |
| Total Debt | 7.90M | 9.40M | 9.00M | 1.75M | 4.08M | 6.37M |
| Total Liabilities | 136.80M | 153.60M | 164.37M | 134.36M | 96.63M | 75.62M |
| Stockholders Equity | 374.30M | 347.20M | 325.00M | 271.18M | 242.54M | 231.09M |
Cash Flow | ||||||
| Free Cash Flow | 2.91M | 50.30M | 29.11M | 29.31M | -1.53M | 12.37M |
| Operating Cash Flow | 12.90M | 71.10M | 29.98M | 33.41M | 9.69M | 18.17M |
| Investing Cash Flow | -22.40M | -20.80M | -6.67M | -16.93M | -11.22M | -5.80M |
| Financing Cash Flow | -25.30M | -15.10M | -7.04M | -5.69M | -2.38M | 1.04M |
C-Rad AB Class B Technical Analysis
Negative
35.00
Price Trends
31.77
Negative
34.14
Negative
31.80
Negative
Market Momentum
-3.03
Positive
31.29
Neutral
30.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CRAD.B, the sentiment is Negative. The current price of 35 is above the 20-day moving average (MA) of 27.45, above the 50-day MA of 31.77, and above the 200-day MA of 31.80, indicating a bearish trend. The MACD of -3.03 indicates Positive momentum. The RSI at 31.29 is Neutral, neither overbought nor oversold. The STOCH value of 30.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CRAD.B.
C-Rad AB Class B Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | kr67.51B | 105.81 | 30.26% | 0.38% | 13.94% | 5.70% | |
68 Neutral | kr22.23B | 34.66 | 11.32% | 0.82% | 1.62% | 63.45% | |
68 Neutral | kr6.95B | 32.66 | 22.81% | 1.97% | 1.42% | 10.40% | |
64 Neutral | kr6.46B | 50.12 | 5.89% | ― | 17.83% | 330.94% | |
60 Neutral | kr1.54B | -303.85 | -1.22% | ― | 34.05% | -144.96% | |
56 Neutral | kr783.39M | 16.48 | 13.23% | 0.43% | -8.76% | 103.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
SE:CRAD.B
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C-Rad AB Class B Corporate Events
C-Rad Wins 8 MSEK SGRT Deal, Bolsters U.S. Northeast Presence
Oct 28, 2026
C-Rad AB, a NASDAQ Stockholm-listed provider of surface-guided radiation therapy systems, specializes in high-speed 3D camera and augmented reality-based imaging to enhance radiotherapy accuracy and protect healthy tissue. Its vendor-independent S...
C-Rad Navigates Soft Demand With Stronger Margins and Radiotherapy Portfolio
Oct 22, 2026
C-Rad AB reported a weak third quarter, with order intake down 29 percent and revenue down 24 percent, mainly due to restrained investment decisions and softer demand in EMEA and APAC. Despite lower volumes, the gross margin rose to 76 percent on ...
C-RAD Launches Share Buyback to Tighten Capital Structure and Support Growth Targets
Oct 22, 2026
C-RAD AB, a Nasdaq Stockholm-listed specialist in surface-guided radiation therapy, designs high-speed 3D camera and augmented reality-based imaging systems that improve the accuracy and safety of dose delivery in cancer treatment. Its solutions e...
C-RAD Sets October 22 Presentation for Q3 2026 Interim Report
Oct 8, 2026
C-RAD AB has scheduled the publication of its interim and third-quarter 2026 report for October 22 at 08:00 CET and will host a same-day presentation led by CEO Tomas Blomquist and CFO Linda Frölén. The session, available via webcast and...
C-RAD and SeeTreat Join Forces to Build Integrated Adaptive Radiotherapy Platform
Sep 29, 2026
C-RAD AB and Australian software firm SeeTreat Pty Ltd have entered a partnership to co-develop integrated, patient-centric radiotherapy workflows. By combining C-RAD’s Catalyst# HD platform for patient positioning and motion management with...
C-RAD Showcases Next-Generation SGRT and Workflow Platform at ASTRO 2026
Sep 28, 2026
C-RAD AB, a global leader in Surface Guided Radiation Therapy, is showcasing its Catalyst# family of systems, expanded interoperability for its Sentinel CT solution, and a new software platform at the ASTRO 2026 meeting in Boston. The company̵...
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.
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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.