Scandinavian Real Heart AB (Publ)

HEART.ST

Medical - Devices · Healthcare

Exchange

Stockholm Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Winston Score History

The full picture

Scandinavian Real Heart AB is a Swedish medical device company working to build a total artificial heart — a mechanical device designed to replace a failing human heart entirely. Its main product is the Total Artificial Heart (TAH), aimed at patients with severe heart failure who cannot survive long enough to receive a donor heart transplant. The company is in the research and development stage and sells no commercial products yet.

Real Heart earns no meaningful revenue today, as it is still conducting preclinical and early clinical testing of its device. It operates primarily in Sweden and is a very small company with a market cap around $100 million. The core risk is significant: developing a medical device this complex requires years of regulatory approvals, large amounts of ongoing funding, and successful human clinical trials — none of which are guaranteed. Investors are essentially betting on whether the company can clear those hurdles before running out of money.

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

Revenue data limited

EPS Growth

+71.7% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

66.2%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~6 months

kr 17M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Scandinavian Real Heart AB (Publ) has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-58.7%

Weak — -58.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.07

Conservative — low debt load (0.07)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

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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