Arcoma AB (ARCOMA.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

-14.6%

SEK 7.33

vs SEK 8.58 price

Levered DCF

SEK 9.93

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.68

Safe 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	20.97×	12.65×	41.84×	51.2×	-22.41×	200×	38.08×	-103.46×
P/B	1.41×	2.39×	2.15×	2.19×	3.82×	5.65×	5.54×	4.36×
P/S	0.8×	0.9×	0.64×	0.8×	1.44×	2.38×	1.87×	1.42×
EV / EBITDA	4.36×	5.85×	16.96×	12.03×	-88.59×	42.36×	19.22×	34.15×
Gross margin	5.2%	39.9%	35.5%	40.3%	35.6%	38.5%	38.8%	39.2%
Operating margin	6.6%	8.7%	2.9%	2.5%	-6.4%	1.9%	6.8%	-0.3%
Net margin	3.8%	7.1%	1.6%	1.5%	-6.4%	1.2%	4.9%	-1.3%
Current ratio	3.49×	2.72×	1.75×	1.33×	1.31×	1.37×	1.45×	1.49×
Debt / equity	0×	0×	0.08×	0.55×	0.38×	0.34×	0.16×	0.34×
Interest coverage	73.58×	52.52×	3.35×	3.46×	-9.81×	4.24×	22.58×	-0.78×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.7%	18.8%	5.3%	4.1%	-17.0%	2.8%	14.6%	-4.1%
Return on invested capital	9.3%	18.7%	7.2%	3.9%	-10.1%	2.6%	12.7%	-0.7%
Return on assets	5.2%	13.9%	3.1%	1.9%	-9.4%	1.4%	7.9%	-2.1%
Free cash flow yield	12.5%	8.5%	15.8%	-4.3%	-3.6%	-1.7%	-0.0%	-0.5%
Earnings yield	4.8%	7.9%	2.4%	1.9%	-4.4%	0.5%	2.6%	-0.9%
Enterprise value	SEK 69.8M	SEK 128.4M	SEK 103.7M	SEK 115.8M	SEK 180M	SEK 288.4M	SEK 255.4M	SEK 175.6M
Net debt / EBITDA	-2.2×	-0.61×	-0.18×	1.6×	-5.8×	1.24×	0.38×	1.08×
Cash conversion cycle (days)	73	78	67	105	88	30	98	82