IDL Diagnostics AB (publ)

IDLDX.ST

Medical - Diagnostics & Research · Healthcare

Price

kr 0.41

+0.00 (+0.24%)

Market Cap

kr 94.7M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Exceptional

Valuation

Good

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Share count rising — dilution

+139.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 96.2M (2021) → 230.4M (2025)

Winston Score History

The full picture

IDL Diagnostics AB is a Swedish healthcare company that makes and sells diagnostic test kits and laboratory reagents. These products help doctors and lab technicians detect diseases and health conditions by analyzing blood and other biological samples. The company sells primarily to hospitals, clinical laboratories, and healthcare providers across Europe.

IDL Diagnostics earns revenue by selling its diagnostic products directly and through distribution partners, with a gross margin above 65%, suggesting meaningful pricing power on its proprietary test kits. The company operates mainly in Scandinavia and broader European markets and remains a relatively small player in the global diagnostics industry, which is dominated by much larger companies like Roche and Abbott. Its main growth opportunity lies in expanding its product portfolio and geographic reach, but its low return on invested capital and small scale mean it faces real pressure competing against well-funded multinational rivals with larger sales forces and R&D budgets.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+43.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+92.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 14M/ year

↓ Declining (-40% vs prior year)

25.6% of revenue

In line with sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

32.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 35M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

IDL Diagnostics AB (publ) grew revenue 44% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

59.9%

Premium pricing power — 59.9% gross margin

Profit after running costs

Operating Margin

-8.1%

Losing money on operations — -8.1%

Return on the money invested

ROCE

11.1%

Below par — 11.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+7.6%

Steady sales growth (+7.6% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

-29%

Weak — only -29% of profit becomes cash

Spare cash per sale

FCF Margin

-8.5%

Burning cash (-8.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.02

Conservative — low debt load (0.02)

Covers its interest

Interest Cover

76.98x

Comfortably covers interest (77.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

6.2x

Attractive valuation — P/E 6.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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