Alligo AB (publ) (ALLIGO-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

+110.8%

SEK 238.58

vs SEK 113.20 price

Levered DCF

SEK 207.62

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.67

Grey zone

Rating

B+

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	24.61×	22.52×	12.7×	8.32×	33.28×	32.13×	8.77×	11.63×
P/B	1.71×	1.66×	1.73×	1.17×	2.83×	2.04×	0.65×	2.04×
P/S	0.67×	0.66×	0.67×	0.43×	1.14×	0.84×	0.31×	0.44×
EV / EBITDA	8.3×	8.12×	6.88×	5.67×	12.08×	8.17×	4.52×	8.42×
Gross margin	4.8%	41.0%	41.4%	40.5%	41.2%	38.2%	37.0%	36.9%
Operating margin	5.6%	5.4%	8.0%	7.3%	5.0%	4.0%	4.9%	5.0%
Net margin	2.7%	2.9%	5.3%	5.2%	5.1%	2.6%	3.5%	3.8%
Current ratio	2.03×	2.03×	2.02×	1.91×	1.66×	1.62×	3.08×	1.61×
Debt / equity	0.97×	0.96×	0.84×	0.81×	0.75×	0×	0.64×	0.21×
Interest coverage	3.71×	3.26×	6.08×	11.53×	10.95×	7.17×	17.82×	60.4×
Dividend yield	1.6%	2.8%	2.4%	2.2%	0.8%	1.4%	4.7%	2.7%
Payout ratio	38.3%	63.9%	30.8%	18.3%	17.7%	44.9%	41.6%	31.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.0%	7.4%	13.6%	14.1%	12.5%	6.4%	7.5%	17.6%
Return on invested capital	5.1%	5.0%	8.2%	8.0%	5.1%	4.1%	4.8%	13.9%
Return on assets	2.7%	2.8%	5.6%	5.8%	5.0%	2.5%	3.6%	7.9%
Free cash flow yield	10.8%	13.9%	12.5%	9.0%	6.1%	16.7%	26.0%	7.6%
Earnings yield	4.1%	4.4%	7.9%	12.0%	4.4%	3.1%	11.4%	8.6%
Enterprise value	SEK 9.6B	SEK 9.1B	SEK 8.9B	SEK 6.6B	SEK 12B	SEK 6B	SEK 2.6B	SEK 2.9B
Net debt / EBITDA	2.73×	2.6×	2.05×	2.21×	2.29×	-0.51×	1.2×	0.76×
Cash conversion cycle (days)	108	140	142	135	106	-80	21	16