olivLaw · European equity research
SinterCast Aktiebolag SINT.ST
Sweden · Nasdaq Stockholm · ISIN SE0000950982 · Vertical: Listed companies from Sweden
SinterCast Aktiebolag develops measurement and process control technology for producing compacted graphite iron (CGI), used in engines for trucks, pickups and industrial equipment. Its business model relies largely on recurring royalties, and industry trends make the topic relevant now.
At the close of 05 Nov 2026, SinterCast Aktiebolag (SINT.ST) stock was 107.50 SEK (+0.47% on the day), with beta 0.24, 52-week range 85.60–112.00 SEK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 57.9
- strong (55–70)
- Bollinger (20, 2)
- 103.05 – 107.35
- above the upper band · %B 1.03 · band width 4.1%
- SMA 50 / 200
- 105.12 / 100.54
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.53 / 0.28
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.9% | −0.6% | +5.5 pp | — |
| 3 months | 0.0% | −4.2% | +4.2 pp | — |
| 6 months | +5.4% | +4.3% | +1.1 pp | — |
| Year to date | +1.4% | +7.5% | −6.1 pp | — |
| 1 year | −0.9% | +9.9% | −10.8 pp | −8.5% |
| 3 years | −0.5% | +49.8% | −50.3 pp | +12.3% |
| 5 years | −29.0% | +42.8% | −71.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 134.4 m | 135.6 m | 108.0 m |
| Revenue YoY | unavailable | +0.9% | −20.4% |
| Net income | 42.1 m | 34.3 m | 24.6 m |
| Net income YoY | unavailable | −18.5% | −28.3% |
| Diluted EPS | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | 31.3% | 25.3% | 22.8% |
| Free cash flow | 40.4 m | 57.8 m | 34.6 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.2 m SEK
- Financial debt
- unavailable SEK
- Net debt
- unavailable SEK
- Equity
- 76.1 m SEK
- Total assets
- 86.2 m SEK
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 27.5%
- ROA
- 23.4%
- FCF margin
- 32.0%
Financial statements (source on every figure)
Revenue and net income (SEK)
Margins
Income statement · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 134.4 m | 135.6 m | 108.0 m | esef· 26 Oct 2026verified |
| Cost of revenue | 35.9 m | 37.3 m | 32.0 m | esef· 26 Oct 2026verified |
| Gross profit | 98.5 m | 98.3 m | 76.0 m | esef· 26 Oct 2026verified |
| Research & development | 12.5 m | 6.9 m | 6.1 m | esef· 26 Oct 2026verified |
| Operating income | 42.7 m | 43.2 m | 32.8 m | esef· 26 Oct 2026verified |
| Interest expense | 400.0 k | 400.0 k | 300.0 k | esef· 26 Oct 2026verified |
| Pre-tax income | 42.6 m | 43.2 m | 32.7 m | esef· 26 Oct 2026verified |
| Income tax | 400.0 k | 9.0 m | 8.1 m | esef· 26 Oct 2026verified |
| Net income | 42.1 m | 34.3 m | 24.6 m | esef· 26 Oct 2026verified |
Balance sheet · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 12.3 m | 23.1 m | 5.2 m | esef· 26 Oct 2026verified |
| Receivables | 43.6 m | 37.9 m | 30.6 m | esef· 26 Oct 2026verified |
| Inventories | 14.1 m | 12.1 m | 9.3 m | esef· 26 Oct 2026verified |
| Current assets | 70.0 m | 73.1 m | 45.1 m | esef· 26 Oct 2026verified |
| Property, plant & equipment, net | 8.7 m | 8.1 m | 6.2 m | esef· 26 Oct 2026verified |
| Intangibles (excl. goodwill) | 1.7 m | 1.1 m | 700.0 k | esef· 26 Oct 2026verified |
| Total assets | 131.6 m | 124.4 m | 86.2 m | esef· 26 Oct 2026verified |
| Accounts payable | 4.2 m | 3.1 m | 2.1 m | esef· 26 Oct 2026verified |
| Current liabilities | 17.5 m | 21.1 m | — | esef· 08 May 2025verified |
| Total liabilities | 17.9 m | 21.5 m | 10.1 m | esef· 26 Oct 2026verified |
| Equity | 113.6 m | 102.9 m | 76.1 m | esef· 26 Oct 2026verified |
Cash flow · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 45.5 m | 59.6 m | 35.1 m | esef· 26 Oct 2026verified |
| Capex | 5.1 m | 1.8 m | 500.0 k | esef· 26 Oct 2026verified |
| Free cash flow | 40.4 m ≈ | 57.8 m ≈ | 34.6 m ≈ | esef· 26 Oct 2026derived |
| Investing cash flow | -5.6 m | -1.8 m | -500.0 k | esef· 26 Oct 2026verified |
| Financing cash flow | -41.8 m | -47.0 m | -52.5 m | esef· 26 Oct 2026verified |
| Dividends paid | 39.0 m | 43.1 m | 49.3 m | esef· 26 Oct 2026verified |
| Share repurchases | 1.2 m | 2.2 m | 1.7 m | esef· 26 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 22.9% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
23% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 22.8% | 94 (vs peers) | 27% |
| FCF conversion · Quality | 140.7% | 100 (on a fixed band) | 27% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 109.3x | 100 (on a fixed band) | 27% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 142.5% | 0 (on a fixed band) | 18% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality97/100 · 2/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SinterCast Aktiebolag (SINT.ST). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 108.0 m SEK in 2025; YoY growth -20.4%; net margin 22.8%; ROE 27.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 22.8%
- FCF conversion: 140.7%
- Interest coverage: 109.3x
What contradicts it
- Payout ratio (FCF): 142.5%
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Listed companies from Sweden · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALFA.STAlfa Laval AB | 223.0 bn | 27.0 | 19.4% | 11.9% | +4.1% | +21% / +38% |
| BOL.STBoliden Ab | 143.0 bn | 15.2 | 13.3% | 10.1% | +4.8% | +12% / +81% |
| CAST.STCastellum Aktiebolag | 66.6 bn | 71.0 | 1.2% | 9.8% | −2.6% | +27% / +6% |
| AAK.STAak Ab (publ) | 47.5 bn | 13.9 | 17.2% | 7.5% | +2.2% | −31% / −14% |
| CAMX.STCamurus AB | 42.5 bn | 58.5 | 19.5% | 32.5% | +21.3% | +16% / +55% |
| BRAV.STBravida Holding AB | 30.1 bn | 24.5 | 13.7% | 4.4% | −4.9% | +84% / +123% |
| ASKER.STAsker Healthcare Group AB | 29.8 bn | 60.5 | 9.8% | 2.9% | +11.7% | −18% / unavailable |
| ALLEI.STAlleima AB | 22.7 bn | 33.8 | 4.1% | 3.6% | −5.4% | +11% / +19% |
| BURE.STBure Equity AB | 22.6 bn | — | -21.0% | — | unavailable | +20% / +19% |
| AQ.STAQ Group AB | 19.7 bn | 29.2 | 14.9% | 7.5% | +6.0% | +14% / +119% |
| ALTRA.STAltra Fastigheter AB | 18.4 bn | 33.9 | 3.0% | 15.1% | −2.2% | +9% / +19% |
| ATT.STAttendo AB (publ) | 16.8 bn | 20.7 | 15.1% | 4.3% | +0.1% | +34% / +223% |
| AFRY.STAfry Ab | 14.9 bn | 18.7 | 6.2% | 3.1% | −5.2% | −17% / +4% |
| ATRLJ-B.STAtrium Ljungberg AB | 14.0 bn | 17.1 | 2.9% | 23.9% | −2.0% | −33% / −44% |
| ALIG.STAlimak Group AB (publ) | 12.7 bn | 21.3 | 8.2% | 8.8% | −3.2% | −18% / +50% |
| ACAD.STAcadeMedia AB | 12.7 bn | 15.5 | 12.7% | 4.3% | +9.7% | +22% / +138% |
| APOTEA.STApotea AB (publ) | 10.7 bn | 46.8 | 31.3% | 3.2% | +10.1% | +15% / unavailable |
| BOOZT.STBoozt AB | 10.6 bn | 37.9 | 10.4% | 3.6% | +0.5% | +58% / +44% |
| BUFAB.STBufab AB (publ) | 5.0 bn | 9.2 | 15.1% | 6.9% | −7.4% | +36% / +110% |
| ACTI.STActive Biotech AB (publ) | 4.9 bn | — | -84.5% | — | unavailable | −32% / −77% |
| CEVI.STCellaVision AB | 4.7 bn | 30.8 | 18.0% | 20.2% | +4.9% | +20% / +12% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.2 | 13.0% | 2.2% | +16.7% | +1% / +25% |
| BHG.STBHG Group AB | 4.5 bn | 31.1 | 2.5% | 1.4% | +6.2% | −18% / +113% |
| CARA.STCarasent AB (publ) | 1.8 bn | 51.7 | 4.1% | 10.1% | +24.9% | −8% / +87% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +16% / −51% |
1- and 3-year price returns: for SINT.ST from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
SinterCast Aktiebolag develops measurement and process control technology for producing compacted graphite iron (CGI), used in engines for trucks, pickups and industrial equipment. Its business model relies largely on recurring royalties, and industry trends make the topic relevant now 1.
SWOT
Strengths
Weaknesses
- The company is small, with few employees, which limits its capacity to develop several projects at once 1.
- Dependence on a small number of large customers, particularly one main partner, can increase concentration risk 1.
- The report shows that earnings and equity fell in 2025 and that liquidity is limited 1.
Opportunities
Risks
- Customer concentrationhigh
One main customer represents an important part of the business, and losing or reducing volumes from it could affect results 1.
- Currency riskmedium
Inflows are mainly in US dollars and euros while costs are mainly in Swedish kronor, exposing the company to exchange rate movements 1.
- Limited liquiditymedium
Cash at year end was modest, and the company mentions an unused overdraft facility of 20 million kronor 1.
- Customer credit risklow
Although most customers are large, part of receivables are overdue, and the company generally does not use credit insurance 1.
- Fraud risklow
Social engineering fraud is named as a risk, and the company has introduced bank detail checks and training programmes 1.
Investment thesis
What would need to be true (bull case)
- If demand for CGI in heavy vehicles grows as the company estimates, the royalty-based model could generate higher recurring revenue 1.
- Expansion in Asia and in new markets such as India could diversify the customer base 1.
- The environmental argument based on CO2 reduction could support long-term adoption of the technology 1.
What to watch
- Production volume trends at the main customer and new CGI programmes2026
- Implementation of US 2027 standards and Euro VII in OEM plans2027
- Progress toward the five million engine equivalents goal2030
- Level of liquidity and cash in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
SinterCast supplies process control systems for series production in compacted graphite iron, along with product development and traceability solutions 1. The company describes itself as a Tier II technology and service supplier to the global foundry industry, whose customers deliver castings to the automotive industry 1. The 2025 annual report shows 58 installations in 13 countries and 24 employees with 11 nationalities 1.
The business model is described as highly scalable, so profitability rises as production volume grows 1. Revenue comes mainly from royalties on production, plus new installations, technical support, spare parts, test pieces and software licences 1.
The strategy targets a short-term goal of five million engine equivalents and a return to double-digit growth by 2030, according to the report 1. The company links this goal to lower CO2 emissions both in the foundry and on the road 1.
Segments
Heavy vehicles
Heavy vehicles make up most of the volume and are expected to keep growing, according to estimates in the report 1.
Pickups and SUVs
Super Duty, full-size and mid-size pickups, along with SUVs and crossovers, form an important segment, especially in Latin America, Africa and Asia-Pacific 1.
Industrial engines
The industrial segment includes marine, locomotive, off-road and backup power generator engines, with growth particularly for data centre generators 1.
Market context
Trends
- Tighter emission standardstailwind
The US standards for 2027 and the EU openness to alternative fuels under Euro VII from 2029 increase predictability for heavy-vehicle manufacturers 1.
- Higher-compression enginestailwind
Next-generation engines could offer better efficiency and could favour CGI adoption in new platforms 1.
- Trade and regulatory uncertaintyheadwind
Uncertainty about international trade relations and emissions legislation has recently affected the automotive market, while electrification has brought high costs and limited acceptance 1.
- Uneven electrification across segmentsmixed
Electrification remains limited in heavy vehicles and pickups, where much of sales still depends on diesel engines, which could support CGI demand but depends on regulation 1.
Competitive position
The annual report does not explicitly name competitors, so the competitive landscape cannot be detailed from the sources provided. The company emphasises its position as the global leader in CGI process control 1.
Direct competition could come from other casting technologies or alternative materials such as aluminium, which the company compares with CGI in its presentation material 1.
- Compacted graphite iron foundries and suppliers
The source does not name specific competitors; current customers such as Tupy, Scania and FAW are partners rather than declared competitors 1.
- Aluminium as alternative material
Aluminium is the main alternative material the company mentions, compared with CGI on strength, energy use and emissions 1.
- Conventional grey iron
Grey iron is another material the company compares with CGI on strength and durability 1.
- Electric vehicles
Electric vehicles are an alternative route to lower emissions, although the report states that electrification is not a complete substitute across all segments 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202526 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / SinterCast Aktiebolag · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.