Serstech AB (SERT) AI Stock Analysis

Serstech AB

(Nasdaq OMX AB:SERT)

Select Model

Rating:43Neutral

Price Target:SEK 0.50▲(2.48% Upside)

Action:reiterated

Date:09/19/26

The score is primarily held down by weak financial performance—large ongoing losses and significant negative operating/free cash flow—despite some balance-sheet buffer and TTM revenue growth. Technicals are largely neutral with slightly negative momentum, and valuation provides limited support because earnings are negative and no dividend yield is available.

Positive Factors

TTM Revenue GrowthRevenue growth and the return to positive gross profit indicate that customer demand and product-level economics have some underlying support. If maintained, this can provide a foundation for operating leverage, although the current cost base still prevents that growth from translating into profits.

Negative Factors

Severe Ongoing LossesThe scale of current losses shows that revenue and gross profit are not covering the company’s operating cost base. Persistent negative earnings can erode equity, restrict internal funding capacity, and make improvement dependent on a substantial recovery in operating efficiency.

Serstech AB (SERT) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 123.09M
Dividend Yield: ―
Average Volume (3M): 152.86K
Price to Earnings (P/E): -4.3
Beta (1Y): 0.41
Revenue Growth: -26.35%
EPS Growth: -5.95%
Country: Sweden
Employees: 26
Sector: Basic Materials
Sector Strength: 61
Industry: Chemicals

Serstech AB Business Overview & Revenue Model

Company Description

Founded in 2006 and headquartered in Lund, Sweden, Serstech AB is a global provider of advanced chemical identification instruments. The company's offerings include the compact, lightweight, handheld Serstech 100 Indicator, a Raman spectrometer capab...

How the Company Makes Money

Serstech AB primarily makes money by selling its chemical identification products (portable/handheld analyzers) and associated software used to detect and identify substances in operational environments. Revenue is generated from (1) product sales of...

Serstech AB Financial Statement Overview

Summary

Financial performance is weak: despite TTM revenue growth (+20.2%) and gross profit turning positive again, profitability has deteriorated sharply with very large losses (TTM net margin about -137%). Cash flow is a major risk with deeply negative operating cash flow (-24.8m) and free cash flow (-29.1m). The balance sheet provides some buffer (moderate leverage; 10.0m debt vs 36.0m equity), but returns remain strongly negative (ROE about -65%), indicating ongoing value erosion if losses persist.

Income Statement

22Negative

Balance Sheet

44Neutral

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	44.31M	38.59M	52.26M	62.76M	25.89M	18.65M
Gross Profit	25.05M	-20.80M	38.33M	48.44M	21.71M	15.53M
EBITDA	-19.35M	-20.59M	-8.78M	12.98M	-22.21M	-3.26M
Net Income	-28.96M	-29.27M	-9.13M	715.00K	-29.57M	-10.25M
Balance Sheet
Total Assets	58.33M	57.49M	94.72M	59.71M	52.55M	66.56M
Cash, Cash Equivalents and Short-Term Investments	4.17M	9.76M	9.29M	18.47M	1.87M	19.57M
Total Debt	10.00M	0	0	1.80M	4.74M	1.70M
Total Liabilities	22.31M	9.71M	18.16M	11.74M	25.93M	10.45M
Stockholders Equity	36.02M	47.79M	76.56M	47.97M	26.62M	56.11M
Cash Flow
Free Cash Flow	-34.09M	-37.41M	-8.49M	-1.37M	-20.75M	-13.19M
Operating Cash Flow	-24.79M	-28.02M	562.00K	7.63M	-13.16M	-628.00K
Investing Cash Flow	-9.30M	-9.40M	-7.95M	-9.00M	-7.59M	-12.55M
Financing Cash Flow	10.29M	37.88M	-1.80M	17.98M	3.04M	21.36M

Serstech AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.48

Price Trends

50DMA0.52Negative

100DMA0.51Negative

200DMA0.49Negative

Market Momentum

MACD-0.01Positive

RSI41.96Neutral

STOCH25.84Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SERT, the sentiment is Negative. The current price of 0.48 is below the 20-day moving average (MA) of 0.51, below the 50-day MA of 0.52, and below the 200-day MA of 0.49, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 41.96 is Neutral, neither overbought nor oversold. The STOCH value of 25.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SERT.

Serstech AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:SERT against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ARPL	72Outperform	SEK 805.63M	11.03	10.54%	4.17%	-13.36%	-31.32%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SE:ORGC	45Neutral	SEK 83.91M	-1.52	-176.65%	―	-21.95%	-28.77%
SE:POLYG	44Neutral	SEK 85.47M	-19.61	-1.52%	―	-18.26%	35.77%
SE:NEXAM	43Neutral	SEK 258.28M	-12.35	-9.37%	―	-4.57%	-15.20%
SE:SERT	43Neutral	SEK 123.09M	-4.31	-63.36%	―	-26.35%	-5.95%
SE:AXIC.A	38Underperform	SEK 133.98M	-7.04	-27.51%	―	36.35%	38.34%

* Basic Materials Sector Average

Performance Comparison

SE:SERT and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SERT	Serstech AB	0.48	-0.03	-6.38%
SE:NEXAM	Nexam Chemical Holding AB	2.52	-0.60	-19.23%
SE:POLYG	Polygiene AB	2.34	-7.06	-75.11%
SE:AXIC.A	aXichem AB Class A	1.75	-0.97	-35.48%
SE:ORGC	OrganoClick AB	0.46	-1.42	-75.64%
SE:ARPL	Arla Plast AB	38.40	-20.72	-35.04%

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: Sep 19, 2026

Serstech AB AI Stock Analysis