SaltX Technology Holding AB Class B (SALT.B) AI Stock Analysis

SaltX Technology Holding AB Class B

(Nasdaq OMX AB:SALT.B)

Select Model

Rating:44Neutral

Price Target:SEK 3.50▼(-14.95% Downside)

Action:reiterated

Date:10/20/26

The score is held down primarily by weak financial performance (large losses, negative gross profit, and ongoing cash burn) and bearish technicals (price below major moving averages with very oversold momentum readings). Valuation is also constrained by negative earnings (negative P/E), while low leverage is a partial stabilizer but not enough to offset operating weakness.

Positive Factors

Proprietary decarbonization technologySaltX is developing technologies aimed at electrifying and decarbonizing hard-to-abate industrial processes. If validated and adopted, electric calcination and thermal storage could address persistent emissions-reduction needs in lime, cement, and other process industries over multiple years.

Negative Factors

Revenue contractionThe sharp TTM revenue decline indicates that customer activity and project monetization have not yet translated into sustained top-line expansion. Continued contraction would make it harder to absorb fixed development costs, fund commercialization, and demonstrate scalable demand for the company’s technologies.

SaltX Technology Holding AB Class B (SALT.B) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 949.33M
Dividend Yield: ―
Average Volume (3M): 281.94K
Price to Earnings (P/E): -10.6
Beta (1Y): 0.14
Revenue Growth: -8.88%
EPS Growth: -10.62%
Country: Sweden
Employees: 20
Sector: Industrials
Sector Strength: 63
Industry: Industrial - Machinery

SaltX Technology Holding AB Class B Business Overview & Revenue Model

Company Description

SaltX Technology Holding AB (publ) is a Swedish company that specializes in developing and commercializing patented energy storage solutions. Established in 2001, the firm is based in Hagersten, Sweden, and primarily serves clients across the energy...

How the Company Makes Money

SaltX primarily aims to make money by commercializing its proprietary industrial decarbonization technologies through customer projects and related technology delivery. Key revenue streams include: (1) Project-based and engineering revenues: income f...

SaltX Technology Holding AB Class B Financial Statement Overview

Summary

Financials are pressured by sharply weaker revenue (TTM down ~29%) and very poor profitability (negative gross profit; operating margin ~-245% and net margin ~-227%). The main offset is low leverage (TTM debt-to-equity ~0.001), but persistent losses and negative ROE (~-43%) keep overall financial quality weak.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	36.40M	43.99M	39.90M	25.97M	256.00K	164.00K
Gross Profit	-91.42M	-69.52M	15.39M	87.66M	607.00K	18.32M
EBITDA	-60.85M	-41.59M	-26.66M	-31.82M	-46.91M	-30.21M
Net Income	-82.76M	-63.21M	-56.51M	-48.85M	-60.86M	-38.94M
Balance Sheet
Total Assets	209.32M	263.19M	169.32M	200.79M	167.24M	151.25M
Cash, Cash Equivalents and Short-Term Investments	103.48M	33.82M	21.93M	26.22M	74.34M	51.16M
Total Debt	153.00K	1.05M	23.32M	29.32M	32.10M	28.78M
Total Liabilities	24.58M	35.73M	49.42M	61.78M	41.62M	38.87M
Stockholders Equity	184.74M	227.45M	119.90M	139.00M	125.62M	112.38M
Cash Flow
Free Cash Flow	-71.54M	-48.81M	-67.71M	-112.24M	-49.19M	-51.10M
Operating Cash Flow	-66.80M	-45.66M	-58.64M	-36.89M	-47.72M	-36.09M
Investing Cash Flow	-5.16M	-3.14M	-9.07M	-75.35M	-1.48M	-15.01M
Financing Cash Flow	157.61M	60.70M	63.42M	64.12M	72.37M	56.61M

SaltX Technology Holding AB Class B Technical Analysis

Technical Analysis SentimentNegative

Last Price4.12

Price Trends

50DMA4.84Negative

100DMA5.53Negative

200DMA5.14Negative

Market Momentum

MACD-0.24Negative

RSI41.24Neutral

STOCH44.67Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SALT.B, the sentiment is Negative. The current price of 4.12 is below the 20-day moving average (MA) of 4.17, below the 50-day MA of 4.84, and below the 200-day MA of 5.14, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 41.24 is Neutral, neither overbought nor oversold. The STOCH value of 44.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SALT.B.

SaltX Technology Holding AB Class B Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

SE:SALT.B against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ATCO.B	73Outperform	SEK 858.54B	32.43	24.21%	1.87%	2.72%	0.11%
SE:SYSR	73Outperform	SEK 17.70B	22.14	13.24%	1.71%	3.31%	20.40%
SE:ALFA	67Neutral	SEK 225.51B	27.71	17.58%	1.65%	4.27%	-2.41%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SE:MTRS	60Neutral	SEK 25.27B	47.60	10.12%	1.16%	-0.19%	78.46%
SE:NMAN	60Neutral	SEK 4.86B	21.66	―	2.89%	-6.05%	-24.08%
SE:SALT.B	44Neutral	SEK 949.33M	-10.62	-43.17%	―	-8.88%	-10.62%

* Industrials Sector Average

Performance Comparison

SE:SALT.B and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SALT.B	SaltX Technology Holding AB Class B	4.12	-2.36	-36.47%
SE:ALFA	Alfa Laval AB	545.60	106.83	24.35%
SE:ATCO.B	Atlas Copco AB (0R82)	160.40	23.52	17.18%
SE:MTRS	Munters Group AB	138.35	-25.20	-15.41%
SE:SYSR	Systemair AB	85.00	8.29	10.80%
SE:NMAN	Nederman Holding AB	138.40	-19.61	-12.41%

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 20, 2026

SaltX Technology Holding AB Class B AI Stock Analysis