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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
-44.2%
SEK 0.15
vs SEK 0.27 price
Levered DCF
SEK 0.14
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
2.08
Grey zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-3.71×-2.06×-2.08×-9.82×-3.8×-4.87×-8.23×-0.65×
P/B0.36×0.27×0.43×1.45×2.05×4.56×6.1×0.46×
P/S0×4.67×8.79×25.25×0×0×0×4,610.48×
EV / EBITDA-3.38×-1.7×-2.6×-7.6×-2.18×-3.7×-7.01×0.77×
Gross margin0.0%100.0%100.0%-2.1%0.0%0.0%0.0%-708735.1%
Operating margin0.0%-217.0%-384.1%-265.0%0.0%0.0%0.0%-708735.0%
Net margin0.0%-227.2%-422.4%-257.1%0.0%0.0%0.0%-708769.9%
Current ratio2.93×2.06×0.45×2.23×23.56×6.54×11.98×6×
Debt / equity0×0×0.09×0×0×0×0×0×
Interest coverage0×-19.86×-9.99×-435,137.62×-1,502,349.47×-175,910.43×0×-20,331.53×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-9.6%-13.1%-20.6%-14.7%-53.9%-93.7%-74.2%-70.0%
Return on invested capital-9.6%-12.5%-17.1%-15.2%-54.0%-93.7%-74.2%-70.0%
Return on assets-9.5%-12.6%-17.6%-12.7%-51.7%-79.9%-68.2%-58.5%
Free cash flow yield-40.8%-78.6%-54.6%-48.4%-34.9%-16.9%-13.2%-122.4%
Earnings yield-26.9%-48.6%-48.1%-10.2%-26.3%-20.5%-12.1%-153.7%
Enterprise valueSEK 21.2MSEK 13.5MSEK 26MSEK 66.8MSEK 61.8MSEK 89.6MSEK 122.1M-SEK 15.8M
Net debt / EBITDA0.47×0.52×-0.29×2.3×1.63×1.18×1.26×1.42×
Cash conversion cycle (days)-362109-3,786-18,747-5,539-15,516-3,69546,457