Mentice AB (MNTC) AI Stock Analysis

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Mentice AB

(Nasdaq OMX AB:MNTC)

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Rating:59Neutral

Price Target:SEK 16.50▲(1.85% Upside)

Action:reiterated

Date:11/13/26

The score is primarily supported by improving fundamentals (strong TTM revenue rebound, sharply better operating/free cash flow, and low leverage) and a constructive technical trend (price above key moving averages). Offsetting these positives, profitability remains negative and valuation is difficult to justify on earnings (negative P/E) with no dividend yield data, keeping the overall score in the mid-range.

Positive Factors

Revenue reboundThe sharp TTM revenue rebound indicates renewed demand for Mentice’s simulation and training solutions after a weaker prior period. If sustained, higher scale can improve operating leverage, support continued product investment, and reinforce the company’s position in image-guided procedure training.

Negative Factors

Loss-making operationsDespite the revenue recovery, Mentice has not yet converted its business into sustainable operating profitability. Continued net and operating losses can constrain reinvestment, weaken shareholder returns, and make future performance more dependent on maintaining cash generation and revenue momentum.

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

Market Cap: SEK 450.01M
Dividend Yield: ―
Average Volume (3M): 11.45K
Price to Earnings (P/E): -24.1
Beta (1Y): 0.88
Revenue Growth: 11.18%
EPS Growth: 60.51%
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...

Mentice AB Financial Statement Overview

Summary

Financials are improving but still mixed: TTM revenue rebounded strongly (+67.6%) and cash flow turned solidly positive (operating cash flow ~37.5m; free cash flow ~32.7m) with low leverage (debt-to-equity ~0.13). The key drag is profitability—TTM net margin remains negative (~-6.1%) with negative operating profit and margin volatility, which keeps the score moderate.

Income Statement

46Neutral

Balance Sheet

67Positive

Cash Flow

71Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	305.17M	279.09M	290.33M	273.61M	217.95M	185.06M
Gross Profit	49.68M	-33.06M	257.25M	236.38M	188.94M	149.92M
EBITDA	2.65M	-1.72M	18.30M	28.87M	266.00K	1.44M
Net Income	-18.60M	-32.33M	-18.42M	-2.82M	-30.66M	-29.19M
Balance Sheet
Total Assets	302.54M	312.02M	323.90M	322.53M	332.98M	261.90M
Cash, Cash Equivalents and Short-Term Investments	59.06M	33.38M	53.59M	59.12M	47.28M	12.70M
Total Debt	14.06M	16.82M	9.14M	9.56M	16.68M	14.70M
Total Liabilities	191.87M	173.65M	180.24M	163.55M	170.34M	125.02M
Stockholders Equity	110.67M	138.38M	143.66M	158.97M	162.63M	136.89M
Cash Flow
Free Cash Flow	32.74M	-25.43M	1.48M	29.53M	1.85M	-31.03M
Operating Cash Flow	37.45M	-20.30M	17.92M	36.52M	14.91M	-5.13M
Investing Cash Flow	-11.48M	-15.46M	-16.44M	-16.18M	-32.28M	-25.90M
Financing Cash Flow	-7.72M	19.66M	-9.31M	-7.05M	48.99M	-5.78M

Mentice AB Technical Analysis

Technical Analysis SentimentPositive

Last Price16.20

Price Trends

50DMA15.01Positive

100DMA14.36Positive

200DMA13.96Positive

Market Momentum

MACD0.09Positive

RSI56.64Neutral

STOCH92.45Negative

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 16.20 is above the 20-day moving average (MA) of 15.63, above the 50-day MA of 15.01, and above the 200-day MA of 13.96, indicating a bullish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 56.64 is Neutral, neither overbought nor oversold. The STOCH value of 92.45 is Negative, 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 61.97B	98.41	30.26%	0.41%	13.94%	5.70%
SE:GETI.B	67Neutral	SEK 76.26B	27.10	9.13%	1.69%	-3.90%	37.73%
SE:XVIVO	64Neutral	SEK 6.39B	50.37	5.89%	―	17.83%	330.94%
SE:MNTC	59Neutral	SEK 450.01M	-24.13	-15.00%	―	11.18%	60.51%
SE:BACTI.B	53Neutral	SEK 509.89M	85.28	1.93%	―	-0.51%	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:HEART	44Neutral	SEK 130.87M	-2.23	-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	16.20	2.35	16.97%
SE:GETI.B	Getinge AB (UK)	281.60	74.49	35.96%
SE:XVIVO	Xvivo Perfusion AB	206.00	42.50	25.99%
SE:BACTI.B	Bactiguard Holding AB	15.35	-0.55	-3.46%
SE:SECT.B	Sectra AB Class B	321.80	36.48	12.78%
SE:HEART	Scandinavian Real Heart AB	15.80	1.50	10.50%

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: Nov 13, 2026

Mentice AB AI Stock Analysis