Cash flow C-Rad AB Boerse Muenchen

Stocks

24C

SE0002016352

Advanced Medical Equipment & Technology

Real-time Boerse Muenchen 06:43:22 2026-08-31 EDT			5-day change	1st Jan Change
3.160 ^EUR	0.00%		0.00%	+9.15%

08-18	Investment firm Pamir reportedly planning IPO this fall - Breakit	FW
07-20	Pareto Securities raises C-Rad price target to 45 kronor (36), reiterates buy	FW

91855b37b50dfdf1407e3833.d_XP1DL3G5xu_zCWNC8qpYBXC3pew66YImdn49y4lI8.NpaQkHSFUKgJnkDJQl9E1dEvcTMxksXPRggppJGN8tBFsYPjVrFq5FmVYQ

Published financial data: C-RAD AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Revenues	261M	301M	425M	469M	442M
Other Revenues, Total	-	-	-	-	-
Total Revenues	261M	301M	425M	469M	442M
Cost of Goods Sold, Total	90.92M	96.02M	137M	146M	126M
Gross Profit	170M	205M	287M	323M	316M
Selling General & Admin Expenses, Total	124M	179M	229M	243M	246M
Depreciation & Amortization - (IS)	9.71M	10.11M	8.86M	9.88M	10.33M
Other Operating Expenses	-220K	-5.67M	-823K	-185K	-616K
Other Operating Expenses, Total	134M	184M	237M	253M	255M
Operating Income	36.56M	21.76M	49.81M	70.43M	60.64M
Interest Expense, Total	-154K	-201K	-337K	-131K	-797K
Interest And Investment Income	10K	162K	61K	2.27M	796K
Net Interest Expenses	-144K	-39K	-276K	2.14M	-1K
Currency Exchange Gains (Loss)	-569K	-	-5.8M	7.24M	-44.69M
Other Non Operating Income (Expenses)	-113K	-234K	-43K	-149K	-120K
EBT, Excl. Unusual Items	35.74M	21.48M	43.69M	79.66M	15.83M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Insurance Settlements	-	-	233K	123K	23K
EBT, Incl. Unusual Items	35.74M	21.48M	43.93M	79.78M	15.85M
Income Tax Expense	10.64M	14.01M	8.4M	23.33M	5.4M
Earnings From Continuing Operations	25.1M	7.48M	35.53M	56.45M	10.46M
Net Income to Company	25.1M	7.48M	35.53M	56.45M	10.46M
Net Income - (IS)	25.1M	7.48M	35.53M	56.45M	10.46M
Net Income to Common Incl Extra Items	25.1M	7.48M	35.53M	56.45M	10.46M
Net Income to Common Excl. Extra Items	25.1M	7.48M	35.53M	56.45M	10.46M
Per Share Items
Net EPS - Basic	0.74	0.22	1.05	1.67	0.31
Basic EPS - Continuing Operations	0.74	0.22	1.05	1.67	0.31
Basic Weighted Average Shares Outstanding	33.74M	33.76M	33.77M	33.77M	33.77M
Net EPS - Diluted	0.74	0.22	1.05	1.67	0.31
Diluted EPS - Continuing Operations	0.74	0.22	1.05	1.67	0.31
Diluted Weighted Average Shares Outstanding	33.93M	33.76M	33.77M	33.77M	33.77M
Normalized Basic EPS	0.66	0.4	0.81	1.47	0.29
Normalized Diluted EPS	0.66	0.4	0.81	1.47	0.29
Dividend Per Share	-	-	-	-	0.1
Supplemental Items
EBITDA	39.37M	23.95M	55.33M	71.52M	62.13M
EBITA	38.27M	22.66M	54.08M	70.44M	60.66M
EBIT	36.56M	21.76M	49.81M	70.43M	60.64M
EBITDAR	39.44M	24.01M	-	71.74M	62.35M
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	29.76	65.19	19.12	29.25	34.04
Normalized Net Income	22.34M	13.43M	27.31M	49.79M	9.89M
Interest on Long-Term Debt	149K	191K	151K	249K	547K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	3.82M	4.52M	4.26M	6.03M	5.09M
Net Rental Expense, Total	72K	58K	-	218K	225K
Imputed Operating Lease Interest Expense	9.16K	11.17K	-	27.37K	114K
Imputed Operating Lease Depreciation	62.84K	46.83K	-	191K	111K

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Assets
Cash And Equivalents	122M	122M	129M	151M	171M
Total Cash And Short Term Investments	122M	122M	129M	151M	171M
Accounts Receivable, Total	96.66M	106M	117M	164M	158M
Other Receivables	22.79M	33.18M	47.9M	62.52M	55.51M
Total Receivables	119M	139M	165M	227M	213M
Inventory	17.22M	40.01M	64.13M	53.43M	45.71M
Prepaid Expenses	4.99M	6.2M	6.54M	9.9M	7.87M
Total Current Assets	264M	307M	365M	441M	438M
Gross Property Plant And Equipment	23.85M	22.87M	24.67M	32.76M	40.2M
Accumulated Depreciation	-11.26M	-12.77M	-14.07M	-14.11M	-16.5M
Net Property Plant And Equipment	12.59M	10.11M	10.6M	18.65M	23.7M
Other Intangibles, Total	1.11M	210K	53K	38K	23K
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	13.08M	227K	180K	-	46K
Deferred Charges Long-Term	15.84M	21.5M	30.08M	29.85M	39M
Other Long-Term Assets, Total	-	1K	-	-	3K
Total Assets	307M	339M	406M	489M	501M
Liabilities
Accounts Payable, Total	22.64M	31.01M	29.68M	31.43M	27.64M
Accrued Expenses, Total	17.18M	20.89M	41.42M	23.34M	26.93M
Current Portion of Leases	3.05M	3.2M	3.15M	2.8M	3.95M
Current Income Taxes Payable	-	-	-	-	18.17M
Unearned Revenue Current, Total	14.64M	18.97M	23.74M	34.44M	38.44M
Other Current Liabilities	11.73M	18.48M	34.61M	60.67M	26.65M
Total Current Liabilities	69.24M	92.56M	133M	153M	142M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	6.37M	4.08M	1.75M	9M	9.42M
Deferred Tax Liability Non Current	-	-	-	2.69M	2.36M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	75.62M	96.63M	134M	164M	154M
Common Stock, Total	5.06M	5.06M	5.06M	5.06M	5.06M
Additional Paid In Capital	380M	381M	379M	375M	364M
Retained Earnings	-153M	-146M	-110M	-53.65M	-43.19M
Comprehensive Income and Other	-1.32M	1.65M	-2.95M	-1.81M	21.5M
Total Common Equity	231M	243M	271M	325M	347M
Total Equity	231M	243M	271M	325M	347M
Total Liabilities And Equity	307M	339M	406M	489M	501M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	33.75M	33.77M	33.68M	33.58M	33.21M
ECS Total Common Shares Outstanding	33.75M	33.77M	33.68M	33.58M	33.21M
Book Value / Share	6.85	7.18	8.05	9.68	10.46
Tangible Book Value	230M	242M	271M	325M	347M
Tangible Book Value Per Share	6.81	7.18	8.05	9.68	10.45
Total Debt	9.42M	7.28M	4.9M	11.8M	13.37M
Net Debt	-113M	-115M	-124M	-139M	-158M
Debt Equivalent Oper. Leases	576K	464K	-	1.74M	1.8M
Account Code - Inventory Valuation	5	5	5	6	6
Inventories - Finished Goods, Total	11.63M	32.73M	55.54M	45.68M	38.72M
Inventories - Others	5.6M	7.28M	8.59M	7.75M	7M
Machinery, Total	14.57M	15.88M	20.04M	19.78M	27.24M
Full Time Employees	62	79	87	99	110
Accumulated Allowance for Doubtful Accounts (Supple)	417K	-	611K	5.95M	3.51M
Order Backlog	-	616M	763M	759M	752M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Net Income	25.1M	7.48M	35.53M	56.45M	10.46M
Depreciation & Amortization - CF	4.18M	4.69M	4.44M	3.87M	5.22M
Amortization of Goodwill and Intangible Assets - (CF)	1.7M	898K	4.26M	15K	16K
Depreciation & Amortization, Total	5.88M	5.59M	8.7M	3.89M	5.24M
Amortization of Deferred Charges, Total - (CF)	3.82M	4.52M	157K	6.03M	5.09M
Asset Writedown & Restructuring Costs	-	-	-	5.81M	-
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	11.28M	13.86M	12.2M	19.85M	28.03M
Change In Accounts Receivable	-42.35M	-20.78M	-24.66M	-67.86M	8.18M
Change In Inventories	8.48M	-22.78M	-24.13M	10.7M	8.04M
Change in Other Net Operating Assets	5.94M	21.8M	25.59M	-4.78M	6.03M
Cash from Operations	18.17M	9.69M	33.38M	30.08M	71.08M
Capital Expenditure	-1.23M	-1.11M	-4.11M	-869K	-8.39M
Sale (Purchase) of Intangible assets	-4.57M	-10.11M	-12.82M	-5.8M	-12.39M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Cash from Investing	-5.8M	-11.22M	-16.93M	-6.67M	-20.78M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-3.16M	-3.39M	-3.4M	-3.26M	-3.59M
Total Debt Repaid	-3.16M	-3.39M	-3.4M	-3.26M	-3.59M
Issuance of Common Stock	3.77M	697K	-	-	-
Repurchase of Common Stock	-	-	-2.77M	-4.35M	-11.93M
Other Financing Activities, Total	437K	308K	474K	569K	416K
Cash from Financing	1.04M	-2.38M	-5.69M	-7.04M	-15.1M
Foreign Exchange Rate Adjustments	961K	3.39M	-3.3M	5.15M	-14.86M
Miscellaneous Cash Flow Adjustments	-1K	-	-1K	-	-
Net Change in Cash	14.38M	-523K	7.46M	21.52M	20.34M
Supplemental Items
Cash Interest Paid	2K	320K	262K	564K	917K
Cash Income Tax Paid (Refund)	-	-	-2.02M	2.15M	15.12M
Levered Free Cash Flow	-1.79M	-8.04M	12.93M	12.92M	38.03M
Unlevered Free Cash Flow	-1.7M	-7.92M	13.14M	13.01M	38.53M
Change In Net Working Capital	28.46M	20.41M	9.93M	34.26M	-11.08M
Net Debt Issued / Repaid	-3.16M	-3.39M	-3.4M	-3.26M	-3.59M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Profitability
Return on Assets	7.92	4.21	8.36	9.84	7.66
Return on Total Capital	10.15	5.55	11.84	14.36	10.87
Return On Equity %	11.65	3.16	13.83	18.94	3.11
Return on Common Equity	11.65	3.16	13.83	18.94	3.11
Margin Analysis
Gross Profit Margin %	65.18	68.13	67.64	68.87	71.52
SG&A Margin	47.55	59.44	54.02	51.79	55.6
EBITDA Margin %	15.08	7.95	13.03	15.25	14.06
EBITA Margin %	14.65	7.52	12.74	15.02	13.73
EBIT Margin %	14	7.22	11.73	15.02	13.72
Income From Continuing Operations Margin %	9.61	2.48	8.37	12.04	2.37
Net Income Margin %	9.61	2.48	8.37	12.04	2.37
Net Avail. For Common Margin %	9.61	2.48	8.37	12.04	2.37
Normalized Net Income Margin	8.55	4.46	6.43	10.62	2.24
Levered Free Cash Flow Margin	-0.69	-2.67	3.04	2.76	8.61
Unlevered Free Cash Flow Margin	-0.65	-2.63	3.09	2.77	8.72
Asset Turnover
Asset Turnover	0.9	0.93	1.14	1.05	0.89
Fixed Assets Turnover	20.38	26.56	41.01	32.07	20.87
Receivables Turnover (Average Receivables)	3.32	2.98	3.82	3.34	2.75
Inventory Turnover (Average Inventory)	4.24	3.36	2.64	2.48	2.54
Short Term Liquidity
Current Ratio	3.81	3.32	2.75	2.89	3.09
Quick Ratio	3.49	2.82	2.22	2.47	2.71
Operating Cash Flow to Current Liabilities	0.26	0.1	0.25	0.2	0.5
Days Sales Outstanding (Average Receivables)	109.83	122.65	95.65	109.56	132.9
Days Outstanding Inventory (Average Inventory)	86.16	108.77	138.33	147.34	143.76
Average Days Payable Outstanding	87.91	82.41	68.58	82.66	91.26
Cash Conversion Cycle (Average Days)	108.07	149.01	165.39	174.24	185.4
Long Term Solvency
Total Debt/Equity	4.08	3	1.81	3.63	3.85
Total Debt / Total Capital	3.92	2.91	1.77	3.5	3.71
LT Debt/Equity	2.76	1.68	0.65	2.77	2.71
Long-Term Debt / Total Capital	2.65	1.63	0.63	2.67	2.61
Total Liabilities / Total Assets	24.65	28.49	33.13	33.59	30.66
EBIT / Interest Expense	237.44	108.25	147.81	537.61	76.08
EBITDA / Interest Expense	275.64	136.05	173.64	567.29	82.66
(EBITDA - Capex) / Interest Expense	267.68	130.54	161.45	560.66	72.13
Total Debt / EBITDA	0.22	0.27	0.08	0.16	0.2
Net Debt / EBITDA	-2.66	-4.19	-2.13	-1.87	-2.4
Total Debt / (EBITDA - Capex)	0.23	0.28	0.09	0.16	0.23
Net Debt / (EBITDA - Capex)	-2.74	-4.37	-2.29	-1.89	-2.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	17.83	15.38	40.92	10.45	-5.78
Gross Profit, 1 Yr. Growth %	24.35	20.6	39.9	12.46	-2.15
EBITDA, 1 Yr. Growth %	72.63	-39.16	100.62	39.62	-13.09
EBITA, 1 Yr. Growth %	76.01	-40.8	105.76	40.97	-13.89
EBIT, 1 Yr. Growth %	82.37	-40.5	128.94	41.39	-13.9
Earnings From Cont. Operations, 1 Yr. Growth %	74.74	-70.21	375.05	58.88	-81.48
Net Income, 1 Yr. Growth %	74.74	-70.21	375.05	58.88	-81.48
Normalized Net Income, 1 Yr. Growth %	118.17	-39.88	103.37	82.32	-80.13
Diluted EPS Before Extra, 1 Yr. Growth %	72.09	-70.27	377.27	59.05	-81.46
Accounts Receivable, 1 Yr. Growth %	59.78	9.5	10.25	40.62	-3.89
Inventory, 1 Yr. Growth %	-32.99	132.31	60.28	-16.68	-14.44
Net Property, Plant and Equip., 1 Yr. Growth %	-3.5	-19.71	4.91	75.87	27.12
Total Assets, 1 Yr. Growth %	13.38	10.59	19.57	20.67	2.34
Tangible Book Value, 1 Yr. Growth %	16.76	5.37	11.88	19.85	6.85
Common Equity, 1 Yr. Growth %	15.67	4.96	11.81	19.84	6.85
Cash From Operations, 1 Yr. Growth %	-1.51	-46.66	244.51	-9.91	136.32
Capital Expenditures, 1 Yr. Growth %	-19.18	-9.54	270.24	-78.84	865.59
Levered Free Cash Flow, 1 Yr. Growth %	-58.09	348.6	-260.69	-0.02	195.14
Unlevered Free Cash Flow, 1 Yr. Growth %	-59.63	366.64	-265.9	-1	197.12
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.76	16.6	27.51	24.76	2.02
Gross Profit, 2 Yr. CAGR %	15.43	22.46	29.9	25.43	4.9
EBITDA, 2 Yr. CAGR %	144.82	2.48	18.54	61.04	10.13
EBITA, 2 Yr. CAGR %	121.24	2.08	18.87	63.72	10.18
EBIT, 2 Yr. CAGR %	103.69	4.17	16.72	79.91	10.33
Earnings From Cont. Operations, 2 Yr. CAGR %	34.87	-27.84	18.97	174.73	-45.75
Net Income, 2 Yr. CAGR %	34.87	-27.84	18.97	174.73	-45.75
Normalized Net Income, 2 Yr. CAGR %	77.32	14.52	10.57	92.55	-39.81
Diluted EPS Before Extra, 2 Yr. CAGR %	28.24	-28.47	19.12	175.52	-45.69
Accounts Receivable, 2 Yr. CAGR %	65.83	32.27	9.87	24.51	16.25
Inventory, 2 Yr. CAGR %	7.32	24.77	92.96	15.56	-15.57
Net Property, Plant and Equip., 2 Yr. CAGR %	60.16	-11.98	-8.22	35.83	49.52
Total Assets, 2 Yr. CAGR %	39.42	11.97	14.99	20.12	11.13
Tangible Book Value, 2 Yr. CAGR %	69.79	10.92	8.58	15.8	13.17
Common Equity, 2 Yr. CAGR %	66.52	10.18	8.33	15.76	13.16
Cash From Operations, 2 Yr. CAGR %	7.14	-27.52	35.55	76.18	45.92
Capital Expenditures, 2 Yr. CAGR %	-32.65	-14.5	83.01	-11.48	42.95
Levered Free Cash Flow, 2 Yr. CAGR %	-46.83	37.12	168.49	26.76	71.53
Unlevered Free Cash Flow, 2 Yr. CAGR %	-47.95	37.24	178.24	28.16	71.26
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.16	13.63	24.2	21.55	13.61
Gross Profit, 3 Yr. CAGR %	14.45	17.13	28.02	23.8	15.47
EBITDA, 3 Yr. CAGR %	100.67	53.92	34.37	22.01	31.09
EBITA, 3 Yr. CAGR %	117.33	42.57	35.49	22.56	32.15
EBIT, 3 Yr. CAGR %	138.54	35.15	35.44	24.42	40.73
Earnings From Cont. Operations, 3 Yr. CAGR %	5.81	-18.47	35.24	31.01	11.82
Net Income, 3 Yr. CAGR %	5.81	-18.47	35.24	31.01	11.82
Normalized Net Income, 3 Yr. CAGR %	513.2	23.64	38.68	30.63	-9.68
Diluted EPS Before Extra, 3 Yr. CAGR %	2.86	-21.22	34.66	31.17	12.07
Accounts Receivable, 3 Yr. CAGR %	29.67	44.41	24.48	19.29	14.22
Inventory, 3 Yr. CAGR %	13.87	38.83	35.63	45.85	4.54
Net Property, Plant and Equip., 3 Yr. CAGR %	114.58	27.23	-6.67	14	32.86
Total Assets, 3 Yr. CAGR %	27.89	29.06	14.45	16.85	13.87
Tangible Book Value, 3 Yr. CAGR %	36.5	44.83	11.24	12.21	12.74
Common Equity, 3 Yr. CAGR %	35.14	42.78	10.72	12.04	12.71
Cash From Operations, 3 Yr. CAGR %	23.67	-15.09	21.86	18.3	94.3
Capital Expenditures, 3 Yr. CAGR %	69.67	-25.69	39.36	-10.84	96.32
Levered Free Cash Flow, 3 Yr. CAGR %	-29.08	8.25	44.57	93.17	67.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	-30.36	8.12	46.2	97.16	69.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	25.87	17.75	17.44	17.96	14.8
Gross Profit, 5 Yr. CAGR %	27.83	19.86	20.39	20.38	18.22
EBITDA, 5 Yr. CAGR %	6.99	29.63	62.57	61.21	22.19
EBITA, 5 Yr. CAGR %	5.34	21.39	70.73	55.22	22.78
EBIT, 5 Yr. CAGR %	3.67	17.7	79.22	51.54	24.78
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.26	-7.27	10.89	32.54	-6.15
Net Income, 5 Yr. CAGR %	-4.26	-7.27	10.89	32.54	-6.15
Normalized Net Income, 5 Yr. CAGR %	2.75	14.52	209.04	47.61	-0.68
Diluted EPS Before Extra, 5 Yr. CAGR %	-9.43	-9.88	9.08	29.99	-6.35
Accounts Receivable, 5 Yr. CAGR %	21.49	35.15	21.36	36.09	21.12
Inventory, 5 Yr. CAGR %	22.05	14.76	40.62	29.01	12.21
Net Property, Plant and Equip., 5 Yr. CAGR %	30.41	36.39	52.77	30.6	12.69
Total Assets, 5 Yr. CAGR %	24.61	23.5	22.57	25.4	13.11
Tangible Book Value, 5 Yr. CAGR %	28.53	29.16	24.56	32.43	12
Common Equity, 5 Yr. CAGR %	26.76	27.71	23.7	31.28	11.69
Cash From Operations, 5 Yr. CAGR %	-16.45	19.24	28.29	13.7	30.97
Capital Expenditures, 5 Yr. CAGR %	18.9	4.9	74.88	-20.3	40.79
Levered Free Cash Flow, 5 Yr. CAGR %	-46.61	0.76	20.79	15.3	54.8
Unlevered Free Cash Flow, 5 Yr. CAGR %	-47.19	0.44	21.2	15.73	55.75