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C-Rad AB Class B
(CRAD.B)
Select Model
Select Model
Rating:70Outperform
Price Target:
kr36.00
▲(2.86% Upside)
Action:Upgraded
Date:07/18/26
The score is driven primarily by strong financial quality (low leverage and improved TTM profitability) and supportive technicals (price above key moving averages with positive MACD). These positives are tempered by a relatively expensive valuation (high P/E and low dividend yield) and some inconsistency in revenue momentum and cash conversion.
Positive Factors
Conservative balance sheet
Very low leverage gives C-Rad substantial financial resilience and flexibility. The company is less exposed to interest costs and refinancing pressure, while its equity base can support product development, customer support, and expansion through hospital investment cycles.
Negative Factors
Uneven revenue growth
Inconsistent revenue momentum makes it harder to assess the pace of sustained market expansion. Because system purchases depend partly on hospital capital spending cycles, uneven sales can create volatility in near-term growth and complicate operating planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives C-Rad substantial financial resilience and flexibility. The company is less exposed to interest costs and refinancing pressure, while its equity base can support product development, customer support, and expansion through hospital investment cycles.
Read all positive factors
C-Rad AB Class B (CRAD.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.12B
Dividend Yield0.31%
Average Volume (3M)24.61K
Price to Earnings (P/E)21.7
Beta (1Y)0.43
Revenue Growth-0.27%
EPS Growth93.40%
CountrySE
Employees98
SectorHealthcare
Sector Strength45
IndustryMedical - Specialties
Share Statistics
EPS (TTM)1.48
Shares Outstanding32,904,050
10 Day Avg. Volume27,555
30 Day Avg. Volume24,614
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)1.98
Revenue Forecast (FY)kr463.90M
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 SGRT hardware systems and associated software to hospitals and radiotherapy clinics, and by generating recurring revenue from software licenses/subscriptions, service contracts, maintenance, and support. Reve...
C-Rad AB Class B Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 444.40M | 441.90M | 469.00M | 424.62M | 301.33M | 261.15M |
| Gross Profit | 197.20M | 306.00M | 323.24M | 287.21M | 205.30M | 170.23M |
| EBITDA | 77.60M | 55.33M | 89.94M | 53.17M | 31.87M | 45.71M |
| Net Income | 49.90M | 10.50M | 56.45M | 35.53M | 7.48M | 25.10M |
Balance Sheet | ||||||
| Total Assets | 509.10M | 500.80M | 489.36M | 405.54M | 339.17M | 306.71M |
| Cash, Cash Equivalents and Short-Term Investments | 138.20M | 171.20M | 150.90M | 129.36M | 121.90M | 122.42M |
| Total Debt | 9.10M | 9.40M | 9.00M | 1.75M | 4.08M | 6.37M |
| Total Liabilities | 142.70M | 153.60M | 164.37M | 134.36M | 96.63M | 75.62M |
| Stockholders Equity | 366.40M | 347.20M | 325.00M | 271.18M | 242.54M | 231.09M |
Cash Flow | ||||||
| Free Cash Flow | 16.31M | 50.30M | 29.11M | 29.31M | -1.53M | 12.37M |
| Operating Cash Flow | 27.80M | 71.10M | 29.98M | 33.41M | 9.69M | 18.17M |
| Investing Cash Flow | -23.90M | -20.80M | -6.67M | -16.93M | -11.22M | -5.80M |
| Financing Cash Flow | -25.10M | -15.10M | -7.04M | -5.69M | -2.38M | 1.04M |
C-Rad AB Class B Technical Analysis
Negative
35.00
Price Trends
35.04
Negative
35.55
Negative
32.27
Positive
Market Momentum
-0.49
Positive
40.72
Neutral
77.78
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 34.13, below the 50-day MA of 35.04, and above the 200-day MA of 32.27, indicating a neutral trend. The MACD of -0.49 indicates Positive momentum. The RSI at 40.72 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 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 | kr57.48B | 89.36 | 30.26% | 0.44% | 13.94% | 5.70% | |
72 Outperform | kr20.89B | 34.96 | 10.82% | 0.88% | 0.82% | 77.45% | |
70 Outperform | kr1.12B | 21.66 | 14.08% | 0.31% | -0.27% | 93.40% | |
70 Outperform | kr6.85B | 73.38 | 4.13% | ― | 8.79% | -20.48% | |
68 Neutral | kr6.30B | 29.47 | 22.81% | 2.19% | 1.42% | 10.40% | |
60 Neutral | kr1.55B | -303.85 | -1.22% | ― | 34.05% | -144.96% | |
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 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...
C-RAD boosts margins as EMEA drives growth amid restructuring push
Jul 17, 2026
C-RAD delivered strong revenue and profitability in the second quarter, with sales rising 16 percent to MSEK 122 and EBIT margin improving to 23 percent, despite a 15 percent drop in order intake largely due to weaker performance in the Americas. ...
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.