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I-Tech AB
(ITECH)
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Rating:78Outperform
Price Target:
kr76.00
▲(41.26% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by strong fundamentals (high profitability and a very low-debt balance sheet) and an attractive valuation (low P/E with a dividend). Technicals are supportive in the near term but are tempered by the stock sitting below its 200-day average, while recent revenue and free-cash-flow softening are key risks to watch.
Positive Factors
Conservative balance sheet
Near-zero debt and rising equity provide a durable financial cushion. Low leverage reduces interest burden and default risk, letting I-Tech fund operations, R&D and partner trials from internal resources. This resilience supports long-term commercialization of Selektope® across cycles.
Negative Factors
Recent revenue decline
Top-line contraction after a high-growth run signals adoption or demand headwinds. Sustained revenue decline would constrain reinvestment capacity, slow partner rollout and limit scale benefits, increasing the risk that operating leverage and margin gains reverse.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Near-zero debt and rising equity provide a durable financial cushion. Low leverage reduces interest burden and default risk, letting I-Tech fund operations, R&D and partner trials from internal resources. This resilience supports long-term commercialization of Selektope® across cycles.
Read all positive factors
I-Tech AB (ITECH) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr801.45M
Dividend Yield1.87%
Average Volume (3M)30.18K
Price to Earnings (P/E)23.0
Beta (1Y)-0.18
Revenue Growth-17.22%
EPS Growth-22.73%
CountrySE
Employees11
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)2.90
Shares Outstanding11,997,777
10 Day Avg. Volume43,174
30 Day Avg. Volume30,179
Financial Highlights & Ratios
PEG Ratio-1.25
Price to Book (P/B)3.58
Price to Sales (P/S)3.71
P/FCF Ratio9.68
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)3.73
Revenue Forecast (FY)kr197.00M
I-Tech AB Business Overview & Revenue Model
Company Description
I-Tech AB, a biotechnology firm established in Mölndal, Sweden, in 2000, focuses on creating and commercializing products to prevent biofouling. Their flagship innovation is Selektope, a unique bio-repellent ingredient engineered for marine coatin...
How the Company Makes Money
I-Tech AB makes money primarily by commercializing Selektope® as an active ingredient for use in antifouling paint and coating formulations. Revenue is generated through sales of Selektope® to coating manufacturers and/or through licensing-type ar...
I-Tech AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 163.96M | 168.12M | 179.45M | 120.86M | 83.63M | 52.90M |
| Gross Profit | 47.30M | 47.43M | 95.22M | 63.54M | 45.13M | 27.48M |
| EBITDA | 52.55M | 49.74M | 54.31M | 30.34M | 18.06M | 1.60M |
| Net Income | 34.77M | 33.19M | 39.01M | 20.20M | 10.62M | -2.65M |
Balance Sheet | ||||||
| Total Assets | 218.49M | 193.73M | 173.11M | 152.44M | 125.41M | 115.12M |
| Cash, Cash Equivalents and Short-Term Investments | 156.70M | 148.16M | 100.16M | 83.26M | 52.75M | 35.01M |
| Total Debt | 0.00 | 0.00 | 7.79M | 0.00 | 2.25M | 4.29M |
| Total Liabilities | 28.66M | 19.35M | 15.73M | 16.20M | 9.37M | 10.19M |
| Stockholders Equity | 189.83M | 174.39M | 157.39M | 136.24M | 116.03M | 104.94M |
Cash Flow | ||||||
| Free Cash Flow | 46.75M | 64.51M | 35.04M | 32.76M | 20.06M | -2.43M |
| Operating Cash Flow | 47.65M | 64.60M | 35.17M | 35.14M | 20.13M | -1.70M |
| Investing Cash Flow | -913.00K | -409.00K | -408.00K | -2.38M | -822.00K | -928.00K |
| Financing Cash Flow | -16.20M | -16.20M | -17.86M | -2.25M | -1.56M | -3.35M |
I-Tech AB Peers Comparison
UnderperformOutperform
Sector (55)
SE:ITECH
I-Tech AB
66.00
-50.22
-43.21%
SE:ONCO
Oncopeptides AB
1.60
-2.65
-62.36%
DE:8F8
SynAct Pharma AB
1.61
-0.10
-6.07%
DE:30S
Saniona AB
1.27
0.49
63.61%
DE:6XP
Xspray Pharma AB
1.39
-2.98
-68.14%
DE:7V3
Cantargia AB
0.18
-0.08
-30.23%
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.