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QleanAir AB
(QAIR)
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Rating:59Neutral
Price Target:
kr20.00
▼(-1.96% Downside)
Action:Reiterated
Date:08/27/26
The score is primarily supported by improving profitability versus 2024 and solid operating/free cash flow, with leverage trending better. These positives are tempered by muted revenue growth and historically inconsistent margins, while technicals are weak (price below key moving averages and negative MACD). Valuation is a modest support given the ~11.18 P/E.
Positive Factors
Solid Cash Generation
Strong operating and free cash flow supports funding for equipment, service delivery and growth while reducing reliance on external financing. Healthy cash conversion also strengthens resilience across the recurring rental and service model.
Negative Factors
Muted Revenue Growth
Limited top-line expansion may constrain operating leverage and make future profit improvement dependent on cost control rather than market growth. It also suggests customer adoption and recurring-unit expansion are not yet accelerating materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Solid Cash Generation
Strong operating and free cash flow supports funding for equipment, service delivery and growth while reducing reliance on external financing. Healthy cash conversion also strengthens resilience across the recurring rental and service model.
Read all positive factors
QleanAir AB (QAIR) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr282.32M
Dividend Yield1.96%
Average Volume (3M)11.42K
Price to Earnings (P/E)11.2
Beta (1Y)0.79
Revenue Growth0.33%
EPS Growth2248.34%
CountrySE
Employees121
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)1.70
Shares Outstanding14,859,200
10 Day Avg. Volume16,137
30 Day Avg. Volume11,421
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.36
Price to Sales (P/S)0.64
P/FCF Ratio4.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.95
Revenue Forecast (FY)kr472.45M
QleanAir AB Business Overview & Revenue Model
Company Description
QleanAir AB (publ) provides advanced air purification systems for professional settings globally. The company's product line features freestanding smoking cabins, designed to safeguard against passive smoke exposure, alongside cleanroom solutions ...
How the Company Makes Money
QleanAir primarily makes money by providing indoor air-cleaning solutions to customers, with revenues generated from delivering its air-cleaning units and associated services. A key part of the model is recurring revenue from renting or subscribin...
QleanAir AB Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 452.19M | 454.74M | 450.38M | 503.52M | 455.17M | 450.58M |
| Gross Profit | 107.15M | 47.73M | 293.22M | 344.04M | 311.02M | 318.04M |
| EBITDA | 73.31M | 69.44M | 48.51M | 102.43M | 56.04M | 109.64M |
| Net Income | 25.26M | 27.89M | -1.43M | 43.37M | 13.29M | 59.26M |
Balance Sheet | ||||||
| Total Assets | 588.80M | 563.20M | 631.13M | 662.05M | 647.72M | 610.81M |
| Cash, Cash Equivalents and Short-Term Investments | 44.81M | 39.53M | 52.04M | 56.88M | 66.96M | 69.66M |
| Total Debt | 182.85M | 175.89M | 240.82M | 246.54M | 261.07M | 235.00M |
| Total Liabilities | 366.98M | 348.48M | 429.41M | 446.75M | 463.75M | 416.72M |
| Stockholders Equity | 221.82M | 214.72M | 201.72M | 215.29M | 183.98M | 194.09M |
Cash Flow | ||||||
| Free Cash Flow | 52.45M | 67.73M | 15.92M | 38.86M | 1.44M | 75.86M |
| Operating Cash Flow | 67.38M | 80.07M | 39.74M | 62.65M | 29.73M | 104.15M |
| Investing Cash Flow | -21.40M | -19.08M | -23.83M | -23.79M | -28.29M | -28.30M |
| Financing Cash Flow | -47.81M | -67.74M | -21.25M | -46.24M | -6.56M | -59.20M |
QleanAir AB Technical Analysis
Negative
20.40
Price Trends
19.26
Negative
21.09
Negative
22.23
Negative
Market Momentum
-0.05
Negative
50.04
Neutral
78.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QAIR, the sentiment is Negative. The current price of 20.4 is above the 20-day moving average (MA) of 18.88, above the 50-day MA of 19.26, and below the 200-day MA of 22.23, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 50.04 is Neutral, neither overbought nor oversold. The STOCH value of 78.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:QAIR.
QleanAir AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr17.74B | 22.21 | 13.24% | 1.70% | 3.31% | 20.40% | |
70 Neutral | kr69.54B | 29.42 | 10.47% | 1.06% | -0.16% | -0.47% | |
68 Neutral | kr2.45B | 27.80 | ― | 1.50% | -0.75% | 2.22% | |
64 Neutral | kr26.90B | 52.68 | 10.02% | 1.09% | -4.33% | 38.59% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | kr282.32M | 11.18 | 11.69% | 1.96% | 0.33% | 2248.34% | |
56 Neutral | kr4.81B | 18.67 | 17.77% | 6.92% | -0.20% | 117.61% |
* Industrials Sector Average
SE:QAIR
QleanAir AB
19.00
-4.50
-19.15%
SE:MTRS
Munters Group AB
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SE:SYSR
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SE:BEIJ.B
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SE:COOR
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11.25%
SE:ABSO
Absolent Air Care Group AB
216.00
-17.22
-7.39%
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.