TradeDoubler AB (NYOR) AI Stock Analysis

TradeDoubler AB

(Nasdaq OMX AB:NYOR)

Select Model

Rating:61Neutral

Price Target:SEK 6.50▲(3.83% Upside)

Action:reiterated

Date:08/10/26

The score is held up by improving revenue growth, stronger cash flow, and a healthier balance sheet. It is limited by ongoing net losses, weak technical momentum, and a valuation profile that lacks earnings support.

Positive Factors

Sustained Revenue GrowthConsistent ~25% TTM revenue growth indicates expanding market traction in performance marketing and a growing advertiser/publisher base. Durable top-line expansion supports scale economics, deeper platform adoption, and provides a foundation for margin improvement and reinvestment over months.

Negative Factors

Inconsistent ProfitabilityEarnings have been volatile, with net income returning to losses in recent periods. This uneven bottom-line performance undermines earnings quality and predictability, complicates planning, and can constrain reinvestment and ability to convert revenue growth into stable, recurring profits.

TradeDoubler AB (NYOR) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 353.00M
Dividend Yield: ―
Average Volume (3M): 24.69K
Price to Earnings (P/E): -24.2
Beta (1Y): 0.41
Revenue Growth: 2.62%
EPS Growth: -235.03%
Country: Sweden
Employees: 344
Sector: Communication Services
Sector Strength: 60
Industry: Advertising Agencies

TradeDoubler AB Business Overview & Revenue Model

Company Description

Nyorda AB, together with its subsidiaries, provides performance marketing and technology solutions for publishers and advertisers in Europe. The company offers affiliate marketing network solutions; white-label partner management platform to manage a...

How the Company Makes Money

TradeDoubler primarily makes money from performance-based digital marketing by acting as an intermediary between advertisers (brands/merchants) and publishers/partners (websites, content creators, comparison sites, and other traffic sources). Key rev...

TradeDoubler AB Financial Statement Overview

Summary

Revenue growth and margin improvement are strong, and cash generation is healthy. However, net losses and negative ROE limit the score despite a solid balance sheet and lower leverage.

Income Statement

65Positive

Balance Sheet

75Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.23B	2.22B	2.11B	1.98B	1.64B	1.42B
Gross Profit	490.20M	489.44M	445.88M	408.37M	346.08M	277.04M
EBITDA	105.39M	108.64M	69.60M	42.43M	59.13M	50.54M
Net Income	-15.84M	1.02M	-3.19M	25.28M	24.29M	23.91M
Balance Sheet
Total Assets	1.09B	1.18B	1.25B	1.15B	1.04B	922.65M
Cash, Cash Equivalents and Short-Term Investments	83.25M	125.75M	78.42M	70.20M	93.47M	94.01M
Total Debt	69.24M	71.81M	97.69M	133.87M	130.27M	134.92M
Total Liabilities	714.09M	800.33M	847.62M	818.92M	729.72M	661.34M
Stockholders Equity	377.32M	378.04M	398.55M	333.25M	307.71M	261.31M
Cash Flow
Free Cash Flow	92.66M	120.68M	18.77M	35.98M	27.69M	27.55M
Operating Cash Flow	111.20M	122.14M	55.89M	74.09M	59.42M	57.15M
Investing Cash Flow	-44.77M	-40.56M	-44.75M	-63.22M	-41.01M	-13.99M
Financing Cash Flow	-23.92M	-23.90M	-5.00M	-33.76M	-26.91M	-41.07M

TradeDoubler AB Technical Analysis

Technical Analysis SentimentNegative

Last Price6.26

Price Trends

50DMA6.44Negative

100DMA6.37Negative

200DMA6.54Negative

Market Momentum

MACD-0.04Positive

RSI46.38Neutral

STOCH36.94Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NYOR, the sentiment is Negative. The current price of 6.26 is below the 20-day moving average (MA) of 6.34, below the 50-day MA of 6.44, and below the 200-day MA of 6.54, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 46.38 is Neutral, neither overbought nor oversold. The STOCH value of 36.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NYOR.

TradeDoubler AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

SE:NYOR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ENRO	70Outperform	SEK 557.36M	19.25	9.27%	6.49%	1.90%	-60.00%
SE:ADTR	62Neutral	SEK 649.34M	-48.41	―	5.54%	7.51%	41.20%
SE:NYOR	61Neutral	SEK 353.00M	-24.23	-4.06%	―	2.62%	-235.03%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SE:RAKE	51Neutral	SEK 90.90M	-0.71	―	―	-43.50%	96.29%
SE:BRIGHT	43Neutral	SEK 41.86M	-0.20	-239.15%	―	-22.11%	-1.01%
SE:CTM	40Underperform	SEK 243.82M	-2.10	-11.22%	―	17.70%	85.68%

* Communication Services Sector Average

Performance Comparison

SE:NYOR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:NYOR	TradeDoubler AB	6.26	-0.64	-9.28%
SE:CTM	Catena Media plc	3.06	0.54	21.52%
SE:ENRO	Eniro Group AB Class A	38.50	19.74	105.22%
SE:BRIGHT	Speqta AB	0.17	-0.10	-36.19%
SE:ADTR	Adtraction Group AB	39.70	14.41	56.98%
SE:RAKE	Raketech Group Holding Plc	2.01	-0.44	-17.96%

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: Aug 10, 2026

TradeDoubler AB AI Stock Analysis