XP Chemistries AB (XPC) AI Stock Analysis

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XP Chemistries AB

(Nasdaq OMX AB:XPC)

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Rating:28Underperform

Price Target:SEK 0.14▼(-17.18% Downside)

Action:downgraded

Date:10/28/26

The score is driven primarily by very weak fundamentals: essentially no revenue, widening operating and net losses, and roughly SEK 12 million of annual cash burn with an eroding equity cushion that points to likely future dilution. The debt-free balance sheet is a genuine positive and removes credit risk, but it only extends a limited runway. Technicals reinforce the caution, with the price below all key moving averages and negative MACD momentum. Valuation offers no support given negative earnings and no dividend. This is a high-risk, speculative story whose outcome depends on commercialising its technology before cash runs out.

Positive Factors

Debt-free balance sheetThe absence of reported debt limits solvency pressure and avoids interest obligations that could further burden a loss-making business. This gives XP Chemistries greater financial flexibility to pursue scaling efforts and withstand operating volatility over the next several quarters.

Negative Factors

Persistent deep lossesPersistent negative net and operating results show that the current revenue base is insufficient to cover the company’s cost structure. Continued losses can erode equity, constrain reinvestment capacity, and keep the business dependent on additional funding until operating scale improves.

XP Chemistries AB (XPC) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 51.18M
Dividend Yield: ―
Average Volume (3M): 292.53K
Price to Earnings (P/E): -4.2
Beta (1Y): 0.12
Revenue Growth: ―
EPS Growth: ―
Country: Sweden
Employees: 2
Sector: General
Sector Strength: 55
Industry: Chemicals

XP Chemistries AB Business Overview & Revenue Model

Company Description

As a biotechnology company, XP Chemistries AB specializes in the development and production of forest-derived capsaicin and its related compounds. Its diverse offerings include ingredients for animal nutrition, components for cosmetic formulations, h...

How the Company Makes Money

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XP Chemistries AB Financial Statement Overview

Summary

XP Chemistries is a pre-commercial, development-stage chemicals company with negligible and declining revenue (roughly SEK 0.32 million TTM, down about 10.5% year-over-year) and a widening operating loss of about SEK 12.0 million. Operating cash flow was negative SEK 11.7 million and free cash flow negative SEK 12.3 million, confirming that losses are real cash costs rather than accounting charges. The one clear offset is a debt-free balance sheet, with roughly SEK 32.1 million of equity funding about 95% of assets, eliminating credit and refinancing risk. However, equity has already fallen from SEK 36.9 million, return on equity is around -27%, and the 2025 capital raise underscores dependence on equity markets. At the current burn rate the runway is limited, making further dilution or fundraising likely.

Income Statement

8Very Negative

Balance Sheet

58Neutral

Cash Flow

9Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	320.05K	327.39K	283.94K	663.68K	1.06M	279.39K
Gross Profit	116.40K	127.68K	328.97K	335.61K	488.98K	149.56K
EBITDA	-10.28M	-9.05M	-7.52M	-8.70M	-8.50M	-5.01M
Net Income	-9.56M	-8.52M	-7.13M	-8.04M	-7.92M	-4.55M
Balance Sheet
Total Assets	33.90M	38.07M	22.72M	27.20M	30.65M	34.39M
Cash, Cash Equivalents and Short-Term Investments	9.71M	15.23M	2.15M	7.83M	15.20M	21.40M
Total Debt	0	0	0	0	0	0
Total Liabilities	1.77M	1.13M	1.16M	1.51M	1.58M	3.09M
Stockholders Equity	32.14M	36.94M	21.56M	25.69M	29.07M	31.30M
Cash Flow
Free Cash Flow	-12.34M	-9.18M	-8.53M	-11.41M	-11.80M	-8.13M
Operating Cash Flow	-11.68M	-8.85M	-7.69M	-9.08M	-9.85M	-4.99M
Investing Cash Flow	-1.30M	-332.30K	-834.96K	-2.33M	-1.95M	-6.31M
Financing Cash Flow	22.47M	22.26M	2.85M	4.04M	5.60M	32.70M

XP Chemistries AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.16

Price Trends

50DMA0.17Negative

100DMA0.17Negative

200DMA0.18Negative

Market Momentum

MACD-0.00Negative

RSI46.35Neutral

STOCH31.67Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:XPC, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.17, and below the 200-day MA of 0.18, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 46.35 is Neutral, neither overbought nor oversold. The STOCH value of 31.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:XPC.

XP Chemistries AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:XPC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:PCAT	70Outperform	SEK 19.18M	5.13	―	―	-17.14%	88.76%
SE:IMPC	59Neutral	SEK 317.76M	-12.16	―	―	6.10%	51.80%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:ENZY	46Neutral	SEK 609.27M	-15.00	―	―	-2.36%	23.44%
SE:NEXAM	40Underperform	SEK 258.28M	-12.35	-9.37%	―	-4.57%	-15.20%
SE:CLBIO	39Underperform	SEK 371.09M	-28.83	―	―	54.37%	52.22%
SE:XPC	28Underperform	SEK 51.18M	-4.17	―	―	―	―

* General Sector Average

Performance Comparison

SE:XPC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:XPC	XP Chemistries AB	0.16	-0.06	-27.23%
SE:NEXAM	Nexam Chemical Holding AB	2.52	-0.49	-16.28%
SE:ENZY	Enzymatica AB	2.51	0.61	32.11%
SE:IMPC	Impact Coatings AB	3.02	1.44	91.50%
SE:CLBIO	Corline Biomedical AB	14.20	-5.60	-28.28%
SE:PCAT	Photocat A/S	3.20	-0.60	-15.79%

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 28, 2026

XP Chemistries AB AI Stock Analysis