Nexam Chemical Holding AB (NEXAM) AI Stock Analysis

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Nexam Chemical Holding AB

(Nasdaq OMX AB:NEXAM)

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Rating:40Underperform

Price Target:SEK 2.50▼(-0.79% Downside)

Action:downgraded

Date:10/17/26

The score is primarily constrained by weak profitability and negative cash flow, despite a strong balance sheet. Bearish technical positioning and the negative P/E ratio provide additional downside signals, resulting in a low overall score.

Positive Factors

Conservative balance sheetModest leverage and a sizable equity base provide financial resilience while the company works through weak profitability. Declining debt since 2022 also suggests less balance-sheet pressure, preserving flexibility to fund operations and pursue development without relying as heavily on additional borrowing.

Negative Factors

Persistent unprofitabilityLosses across net income and operating profit, together with negative TTM gross profit, indicate that the company is not currently covering its full operating cost base. This weakens internal funding capacity and makes sustained profitability dependent on reversing the deterioration in margins and execution.

Nexam Chemical Holding AB (NEXAM) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 269.56M
Dividend Yield: ―
Average Volume (3M): 88.98K
Price to Earnings (P/E): -12.4
Beta (1Y): 0.18
Revenue Growth: -4.57%
EPS Growth: -15.20%
Country: Sweden
Employees: 60
Sector: Basic Materials
Sector Strength: 61
Industry: Chemicals

Nexam Chemical Holding AB Business Overview & Revenue Model

Company Description

Nexam Chemical Holding AB (publ) specializes in creating advanced chemical solutions designed to elevate the properties and performance of various polymers. Operating globally, with a strong presence in Sweden and Europe, the company delivers product...

Nexam Chemical Holding AB Financial Statement Overview

Summary

Financial performance is very weak overall: declining revenue, negative gross profit, EBIT and net income losses, and negative operating and free cash flow outweigh the strong, low-debt balance sheet.

Income Statement

15Very Negative

Balance Sheet

80Positive

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	188.69M	192.25M	199.58M	190.28M	221.76M	219.45M
Gross Profit	-68.76M	-11.81M	92.40M	81.79M	86.73M	84.48M
EBITDA	1.91M	4.12M	10.52M	-5.01M	780.00K	6.30M
Net Income	-18.45M	-16.53M	-9.01M	-22.84M	-12.71M	-5.46M
Balance Sheet
Total Assets	251.07M	225.95M	231.13M	245.81M	278.10M	284.35M
Cash, Cash Equivalents and Short-Term Investments	16.74M	12.17M	2.88M	9.06M	22.88M	63.60M
Total Debt	15.96M	28.22M	23.10M	26.15M	31.84M	27.72M
Total Liabilities	47.61M	57.78M	47.82M	52.75M	62.48M	56.28M
Stockholders Equity	203.46M	168.17M	183.31M	193.06M	215.62M	228.06M
Cash Flow
Free Cash Flow	-2.45M	7.22M	-2.47M	-9.53M	-44.22M	516.00K
Operating Cash Flow	-14.18M	11.29M	7.43M	-352.00K	-11.10M	7.19M
Investing Cash Flow	-16.01M	-9.57M	-9.71M	-9.18M	-33.12M	-6.25M
Financing Cash Flow	35.65M	1.44M	-3.06M	-5.17M	3.85M	33.23M

Nexam Chemical Holding AB Technical Analysis

Technical Analysis SentimentNegative

Last Price2.52

Price Trends

50DMA2.61Negative

100DMA2.91Negative

200DMA2.82Negative

Market Momentum

MACD-0.01Negative

RSI49.29Neutral

STOCH77.33Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NEXAM, the sentiment is Negative. The current price of 2.52 is above the 20-day moving average (MA) of 2.50, below the 50-day MA of 2.61, and below the 200-day MA of 2.82, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 49.29 is Neutral, neither overbought nor oversold. The STOCH value of 77.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NEXAM.

Nexam Chemical Holding AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:NEXAM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ARPL	65Neutral	SEK 748.99M	10.78	10.16%	4.35%	-8.16%	-26.09%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SE:ORGC	46Neutral	SEK 75.30M	-1.70	-156.22%	―	-27.65%	3.02%
SE:AERO	42Neutral	SEK 22.71M	-0.53	-87.92%	―	-11.55%	60.56%
SE:POLYG	41Neutral	SEK 94.24M	-22.30	-1.52%	―	-18.26%	35.77%
SE:NEXAM	40Underperform	SEK 269.56M	-12.35	-9.37%	―	-4.57%	-15.20%
SE:AXIC.A	38Underperform	SEK 127.11M	-6.56	-27.51%	―	36.35%	38.34%

* Basic Materials Sector Average

Performance Comparison

SE:NEXAM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:NEXAM	Nexam Chemical Holding AB	2.52	-0.49	-16.28%
SE:AERO	Svenska Aerogel Holding AB	0.44	-0.94	-68.12%
SE:POLYG	Polygiene AB	2.66	-5.64	-67.95%
SE:AXIC.A	aXichem AB Class A	1.64	-0.94	-36.41%
SE:ORGC	OrganoClick AB	0.44	-1.27	-74.27%
SE:ARPL	Arla Plast AB	36.75	-11.39	-23.66%

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

Nexam Chemical Holding AB AI Stock Analysis