Mentice AB (MNTC) AI Stock Analysis

Mentice AB

(Nasdaq OMX AB:MNTC)

Select Model

Rating:61Neutral

Price Target:SEK 18.00▲(14.65% Upside)

Action:reiterated

Date:10/17/26

SE:MNTC's overall score is constrained by its persistent unprofitability and weak valuation metrics, primarily its negative P/E ratio. However, the rating is heavily supported by strong technical upward momentum, a low-leverage balance sheet, and a recent notable rebound in free cash flow generation.

Positive Factors

Improving revenue trajectoryStronger TTM revenue growth indicates improving demand for Mentice’s simulation and training offering. If sustained, broader adoption across hospitals, training centers, and medical device customers can support operating leverage and provide a durable foundation for future earnings improvement.

Negative Factors

Persistent operating lossesMentice has improved its profitability trend but has not yet reached consistent bottom-line profitability. Continued EBIT and net losses can limit internally funded growth, weaken returns on invested capital, and make future performance more dependent on successful execution and revenue expansion.

Mentice AB (MNTC) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 435.95M
Dividend Yield: ―
Average Volume (3M): 9,856
Price to Earnings (P/E): -91.7
Beta (1Y): 0.85
Revenue Growth: 15.87%
EPS Growth: 92.43%
Country: Sweden
Employees: 109
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Devices

Mentice AB Business Overview & Revenue Model

Company Description

Mentice AB (publ), founded in 1998 and headquartered in Gothenburg, Sweden, specializes in delivering advanced endovascular simulation solutions. These are utilized by educational institutions, healthcare systems, and medical device manufacturers glo...

How the Company Makes Money

Mentice makes money primarily by selling and licensing simulation-based training solutions used for interventional procedure education. Key revenue streams include: (1) System sales and solutions delivery: revenue from providing simulator systems (ty...

Mentice AB Financial Statement Overview

Summary

Financial performance is mixed. The company exhibits steady top-line revenue growth and a highly resilient, low-leverage balance sheet with a debt-to-equity ratio of 0.12. However, this is significantly offset by persistent net losses and equity erosion, despite a recent positive rebound in trailing-twelve-month free cash flow.

Income Statement

42Neutral

Balance Sheet

68Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	303.13M	279.09M	290.33M	273.61M	217.95M	185.06M
Gross Profit	128.19M	-33.06M	257.25M	236.38M	188.94M	149.92M
EBITDA	18.86M	-1.72M	18.30M	28.87M	266.00K	1.44M
Net Income	-4.61M	-32.33M	-18.42M	-2.82M	-30.66M	-29.19M
Balance Sheet
Total Assets	298.51M	312.02M	323.90M	322.53M	332.98M	261.90M
Cash, Cash Equivalents and Short-Term Investments	61.07M	33.38M	53.59M	59.12M	47.28M	12.70M
Total Debt	13.56M	16.82M	9.14M	9.56M	16.68M	14.70M
Total Liabilities	174.93M	173.65M	180.24M	163.55M	170.34M	125.02M
Stockholders Equity	123.58M	138.38M	143.66M	158.97M	162.63M	136.89M
Cash Flow
Free Cash Flow	18.40M	-25.43M	1.48M	29.53M	1.85M	-31.03M
Operating Cash Flow	25.41M	-20.30M	17.92M	36.52M	14.91M	-5.13M
Investing Cash Flow	-12.65M	-15.46M	-16.44M	-16.18M	-32.28M	-25.90M
Financing Cash Flow	21.79M	19.66M	-9.31M	-7.05M	48.99M	-5.78M

Mentice AB Technical Analysis

Technical Analysis SentimentPositive

Last Price15.70

Price Trends

50DMA14.68Positive

100DMA14.13Positive

200DMA13.88Positive

Market Momentum

MACD0.31Positive

RSI54.69Neutral

STOCH9.98Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MNTC, the sentiment is Positive. The current price of 15.70 is above the 20-day moving average (MA) of 15.56, above the 50-day MA of 14.68, and above the 200-day MA of 13.88, indicating a bullish trend. The MACD of 0.31 indicates Positive momentum. The RSI at 54.69 is Neutral, neither overbought nor oversold. The STOCH value of 9.98 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MNTC.

Mentice AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SE:MNTC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SECT.B	74Outperform	SEK 67.51B	101.10	30.26%	0.38%	13.94%	5.70%
SE:GETI.B	67Neutral	SEK 75.64B	26.30	9.13%	1.74%	-3.90%	37.73%
SE:XVIVO	64Neutral	SEK 6.46B	48.83	5.89%	―	17.83%	330.94%
SE:MNTC	61Neutral	SEK 435.95M	-91.65	-3.61%	―	15.87%	92.43%
SE:BACTI.B	53Neutral	SEK 560.70M	87.78	1.93%	―	-0.51%	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:HEART	44Neutral	SEK 142.76M	-2.33	-54.68%	―	―	―

* Healthcare Sector Average

Performance Comparison

SE:MNTC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:MNTC	Mentice AB	15.70	6.30	67.02%
SE:GETI.B	Getinge AB (UK)	273.30	57.11	26.42%
SE:XVIVO	Xvivo Perfusion AB	199.70	22.50	12.70%
SE:BACTI.B	Bactiguard Holding AB	15.80	-0.40	-2.47%
SE:SECT.B	Sectra AB Class B	330.60	36.35	12.35%
SE:HEART	Scandinavian Real Heart AB	16.50	1.60	10.77%

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 17, 2026

Mentice AB AI Stock Analysis