Alpcot Holding AB (publ) (ALPCOT-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

-1276.4%

-SEK 15.65

vs SEK 1.33 price

Levered DCF

-SEK 18.70

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.36

Grey zone

Rating

C+

Overall 2 / 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
P/E	46.46×	-4.29×	-10.09×	-7.57×	-8.95×	-18.33×	0×
P/B	2.39×	1.3×	1.75×	2.74×	4.66×	6.44×	0×
P/S	1.51×	1.02×	2.14×	3.06×	57.17×	8.67×	0×
EV / EBITDA	9.01×	-4.18×	-6.06×	-11.24×	-54.75×	-26.54×	1.59×
Gross margin	28.4%	42.4%	43.2%	53.6%	51.0%	76.4%	60.1%
Operating margin	2.6%	-23.7%	-21.4%	-40.3%	-113.6%	-47.9%	-36.2%
Net margin	3.2%	-23.7%	-21.4%	-40.4%	-641.8%	-47.9%	-36.2%
Current ratio	7.52×	1.97×	1.58×	2.06×	5.67×	1.82×	1.03×
Debt / equity	0.15×	0.01×	0.03×	0.06×	0.07×	0×	0×
Interest coverage	0×	0×	0×	0×	-164.8×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.2%	-30.4%	-17.5%	-36.3%	-52.4%	-35.6%	-72.3%
Return on invested capital	2.8%	-25.0%	-17.3%	-31.5%	-6.6%	-35.6%	-71.9%
Return on assets	3.5%	-20.6%	-13.9%	-28.3%	-35.1%	-26.7%	-31.7%
Free cash flow yield	-3.7%	-21.4%	-11.3%	-19.7%	-4.6%	-6.3%	0.0%
Earnings yield	2.2%	-23.3%	-10.0%	-13.2%	-11.2%	-5.5%	0.0%
Enterprise value	SEK 185.2M	SEK 89.3M	SEK 152.5M	SEK 218.4M	SEK 337.2M	SEK 238.5M	-SEK 14.6M
Net debt / EBITDA	-0.31×	0.49×	0.8×	0.71×	5.85×	1.8×	1.59×
Cash conversion cycle (days)	92	69	-17	23	-2,396	-56	-47