AddLife AB (publ) (ALIF-B.ST) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-52.1%

SEK 85.37

vs SEK 178.10 price

Levered DCF

SEK 81.16

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.43

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	34.59×	66.33×	70.13×	27.56×	63.36×	31.17×	56.89×	37.08×
P/B	3.56×	3.15×	2.69×	2.66×	10.63×	8.58×	5.47×	5.16×
P/S	1.86×	1.63×	1.38×	1.46×	5.7×	3.06×	2.31×	1.94×
EV / EBITDA	12.96×	14.15×	11.96×	12.71×	33.66×	17.61×	20.61×	21.11×
Gross margin	38.1%	37.5%	37.2%	37.7%	35.7%	34.5%	34.4%	35.9%
Operating margin	7.5%	7.0%	6.0%	8.9%	12.5%	12.8%	5.6%	6.8%
Net margin	5.4%	2.4%	2.0%	5.3%	9.0%	9.8%	4.0%	5.2%
Current ratio	1.04×	1.23×	0.84×	0.8×	0.56×	0.97×	0.8×	0.69×
Debt / equity	0.88×	0.96×	1.07×	1.13×	0.96×	0.43×	0.61×	0.91×
Interest coverage	3.68×	2.26×	2.03×	6.41×	16.88×	37.78×	15.82×	23.29×
Dividend yield	0.5%	0.4%	1.1%	1.8%	0.4%	0.3%	0.8%	1.1%
Payout ratio	16.3%	24.2%	76.8%	50.6%	25.5%	10.9%	44.2%	41.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.3%	4.7%	3.8%	9.7%	16.8%	27.5%	9.6%	13.9%
Return on invested capital	5.3%	4.2%	3.1%	5.8%	8.6%	17.9%	5.9%	6.9%
Return on assets	4.4%	1.9%	1.5%	3.7%	6.8%	12.5%	4.3%	4.8%
Free cash flow yield	5.7%	4.8%	4.1%	4.7%	1.9%	5.3%	3.9%	2.7%
Earnings yield	2.9%	1.5%	1.4%	3.6%	1.6%	3.2%	1.8%	2.7%
Enterprise value	SEK 23.3B	SEK 21.5B	SEK 18.3B	SEK 18.4B	SEK 49.3B	SEK 16.7B	SEK 8.8B	SEK 5.6B
Net debt / EBITDA	2.2×	3.13×	3.27×	3.59×	2.56×	0.62×	1.86×	2.96×
Cash conversion cycle (days)	93	99	96	99	81	54	76	97