Bonzun AB (PADEL) AI Stock Analysis

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Bonzun AB

(Nasdaq OMX AB:PADEL)

Select Model

Rating:46Neutral

Price Target:SEK 2.00▲(11.11% Upside)

Action:reiterated

Date:10/09/26

The score is weighed down primarily by weak financial performance: deeply negative profitability, ongoing cash burn, and negative equity meaningfully increase financial risk. Technical indicators are supportive in the near term (price above key averages and positive MACD) but are tempered by overbought momentum readings. Valuation is also constrained by losses (negative P/E) and the absence of a dividend yield.

Positive Factors

Strong 2025 revenue growthThe sharp increase in 2025 revenue indicates stronger commercial activity and customer demand than in prior periods. If the expanded revenue base is maintained, it could provide operating leverage and a foundation for improving profitability as the company develops its business further.

Negative Factors

Negative shareholders’ equityNegative equity weakens the balance sheet and reduces financial flexibility, making it harder to absorb operating setbacks or fund expansion internally. It also means leverage measures are distorted and can signal a greater need for refinancing, recapitalization, or other balance-sheet actions.

Bonzun AB (PADEL) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 837.53K
Dividend Yield: ―
Average Volume (3M): 18.44K
Price to Earnings (P/E): -0.6
Beta (1Y): 0.60
Revenue Growth: ―
EPS Growth: ―
Country: Sweden
Employees: 7
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Bonzun AB Business Overview & Revenue Model

Company Description

Acenta Group AB develops a comprehensive sport-technology platform designed to unite and empower the global padel community, from individual players and fans to clubs and businesses. This platform facilitates engagement, competition, and the overall...

Bonzun AB Financial Statement Overview

Summary

Despite strong 2025 revenue growth (~20.2M), profitability is deeply negative (gross profit, EBIT/EBITDA, and net income) with materially negative margins. The balance sheet shows heightened risk with negative shareholders’ equity (2025), and cash flow remains consistently negative with sizable 2025 operating/free cash outflows (about -14.6M), implying reliance on external funding.

Income Statement

14Very Negative

Balance Sheet

18Very Negative

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Sep 2024	Sep 2023	Dec 2022	Mar 2022
Income Statement
Total Revenue	12.20M	20.16M	159.00K	2.74M	1.09M	359.48K
Gross Profit	-8.90M	-8.82M	-8.66M	-25.25M	1.08M	-9.29M
EBITDA	-8.60M	-8.53M	-8.59M	-28.58M	-14.15M	-6.38M
Net Income	-10.90M	-28.91M	-51.31M	13.88M	-43.38M	-10.29M
Balance Sheet
Total Assets	15.70M	18.53M	540.00K	46.75M	27.41M	48.47M
Cash, Cash Equivalents and Short-Term Investments	1.40M	1.41M	6,000	203.00K	369.00K	609.23K
Total Debt	9.90M	7.57M	0	554.00K	667.00K	866.66K
Total Liabilities	21.80M	22.32M	8.30M	6.95M	17.23M	18.89M
Stockholders Equity	-6.10M	-3.79M	-7.76M	39.80M	10.18M	29.58M
Cash Flow
Free Cash Flow	-1.30M	-14.61M	-3.71M	-25.76M	-9.32M	-9.24M
Operating Cash Flow	-2.90M	-14.61M	-3.71M	-25.11M	-7.72M	-7.32M
Investing Cash Flow	-1.00M	-5.60M	0	3.01M	-1.59M	-1.93M
Financing Cash Flow	3.80M	20.36M	3.52M	21.93M	9.08M	9.67M

Bonzun AB Technical Analysis

Technical Analysis SentimentNegative

Last Price1.80

Price Trends

50DMA1.93Negative

100DMA1.95Negative

200DMA3.51Negative

Market Momentum

MACD-0.07Positive

RSI35.58Neutral

STOCH1.59Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PADEL, the sentiment is Negative. The current price of 1.80 is below the 20-day moving average (MA) of 2.07, below the 50-day MA of 1.93, and below the 200-day MA of 3.51, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 35.58 is Neutral, neither overbought nor oversold. The STOCH value of 1.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:PADEL.

Bonzun AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:PADEL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SWEC.B	79Outperform	SEK 51.31B	21.50	18.37%	2.61%	6.16%	9.75%
SE:AFRY	67Neutral	SEK 14.90B	17.24	6.63%	4.60%	-3.51%	-7.54%
SE:INSTAL	67Neutral	SEK 11.42B	22.88	15.56%	1.15%	8.64%	96.94%
SE:ELTEL	56Neutral	SEK 2.63B	25.76	5.85%	―	-0.10%	674.16%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:PADEL	46Neutral	SEK 14.35M	-0.64	―	―	―	―
SE:NETEL	41Neutral	SEK 514.38M	-1.22	―	―	-9.70%	4.65%

* General Sector Average

Performance Comparison

SE:PADEL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:PADEL	Bonzun AB	1.80	-12.70	-87.59%
SE:SWEC.B	Sweco AB	141.50	-19.97	-12.37%
SE:AFRY	AFRY AB Class B	130.50	-20.06	-13.32%
SE:INSTAL	Instalco AB	43.48	20.85	92.16%
SE:ELTEL	Eltel AB	16.35	7.75	90.12%
SE:NETEL	Netel Holding AB	3.08	-0.90	-22.74%

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 09, 2026

Bonzun AB AI Stock Analysis