SolTech Energy Sweden AB (publ)

SOLT.ST

Solar · Technology

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

SolTech Energy Sweden AB is a Swedish company that installs solar energy systems on buildings. It sells solar panels and related equipment to homeowners, businesses, and property owners across Sweden and China. The company is known for making solar panels that look like traditional roof tiles or building materials, so they blend into the appearance of a building rather than sitting on top of it.

SolTech makes money by selling and installing these solar systems, and it also earns recurring revenue from energy production through its subsidiary operations in China. The company operates primarily in Sweden and China, making it unusual among Nordic solar firms for having a significant Asian presence. However, the financial data tells a difficult story — negative gross margins mean the company is currently losing money on every sale before even counting overhead costs. The main risk is whether SolTech can scale its operations enough to reach profitability, especially as competition in the solar installation market intensifies and interest rates affect construction activity.

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

-13.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+100.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

0.5%ownership

Relatively low insider ownership

Cash Runway

~5 months

kr 111M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

SolTech Energy Sweden 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

41.6%

Healthy — 41.6% gross margin

Profit after running costs

Operating Margin

6.4%

Modest — 6.4% operating margin

Return on the money invested

ROCE

-53.6%

Weak — -53.6% 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

-26.7%

Shrinking sales (-26.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-9.4%

Burning cash (-9.4%)

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

0.65

Moderate — manageable debt (0.65)

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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