Rankings Machinery & automation Ecomb
Ecomb
19
15070100
A view of the same findings, not a new score. How it works
The model found several serious problems. That does not mean the stock will fall.
Biggest deductions
- Margin−10
- Multiples vs own history−10
- Funding and going concern−10
Strengths
- No documented strengths.
How the score is built
From 100 to 19, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 0.22 SEK
- Median analyst target
- –
- Upside to median
- –
- Analysts
- none
- Target range
- –
- 52-week change
- −94%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 4 findings−29 of −30
- −10MarginOperating margin −248% (TTM): revenue SEK 2.0m vs an operating loss of 4.9m; losses every year since at least 2021.
- −8Quality of growthRevenue fell from SEK 18.8m (2024) to 1.4m (2025); H1 2026 1.3m and an order book of only SEK 1.3m.
- −5MoatThe Ecotube technology dates from 1992 and has never reached scale; 2–3 employees and projects of SEK 0.05–1m.
- −6Capital allocation1:150 reverse split in Feb 2025, share count +1,530% in a year; adjusted share price down from 91.80 (2021) to SEK 0.28.
Price
Today's multiples against the company's own history and its peers. · 2 findings−16 of −35
- −10Multiples vs own historyWith 32.6m shares after the issue, market value is about SEK 9m and P/S about 4.6 vs 0.3–3.5 in 2022–2025 – for a company with falling revenue and negative equity.
- −6PeersLoss-making industrial environmental-tech microcaps often trade below 1x sales; P/B is negative (−2.2).
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 6 findings−30 of −35
- −10Funding and going concernEquity −1.1m and cash SEK 0.45m at 30/6; operating cash flow −11.5m TTM vs a share issue of 8m (gross) – new capital is needed within a year. Altman Z −16.7.
- −5ExecutionLOI with a large industrial customer (SEK 4–6m) postponed to winter 2026/27; the TO2 warrants yielded only 7,136 shares (about SEK 12k).
- −4Customer concentrationA few large single orders (EON, SUEZ/EVONEO, Tekniska Verken via RJM at 4.3m) exceed annual revenue.
- −5DilutionShare issue in Aug 2026 at SEK 0.41 per share (only 64% subscribed by shareholders, the rest by guarantors) plus TO5 warrants at SEK 0.75 in 2027; share count 9.8 → 32.6m.
- −4Share price riskThe share price is −92.5% over 52 weeks and now trades at SEK 0.28 – below the 0.41 issue price; beta 1.9.
- −2Key people2–3 employees; dependent on CEO Ulf Hagström and grants (Swedish Energy Agency) for demo projects.
Plus
Only documented strengths. · 0 findings±0 of +15
- No findings recorded.
Caveats
What the score does not capture, or where the data is weak.
Microcap (about SEK 9m on 32.6m shares), 2–3 employees, no analysts; negative equity before the August share issue; stockanalysis uses the old share count (9.78m)
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