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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
-485.9%
-SEK 0.54
vs SEK 0.14 price
Levered DCF
-SEK 0.71
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
-22.65
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020
P/E-0.51×-0.15×-0.56×-0.46×-2.94×-5.93×
P/B-0.86×-0.17×4.54×0.88×2.52×3.11×
P/S1.58×0.49×1.61×1.84×5.16×7.36×
EV / EBITDA-1.47×-1.75×-0.66×-0.44×-3.05×-6.67×
Gross margin-249.3%26.1%22.0%5.5%46.1%26.6%
Operating margin-277.5%-285.8%-273.1%-400.0%-176.1%-118.6%
Net margin-313.5%-325.6%-286.2%-402.0%-175.7%-124.1%
Current ratio0.42×0.32×0.75×2.85×5.08×1.86×
Debt / equity-1.58×-1.48×0.2×0×0×0×
Interest coverage-7.68×-7.17×-59.8×-1,020.76×-7,702×-19.13×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020
Return on equity171.0%115.2%-807.4%-193.0%-85.8%-52.5%
Return on invested capital-260.2%-212.5%-644.1%-192.0%-85.0%-49.4%
Return on assets-118.6%-113.1%-142.8%-154.0%-74.0%-32.3%
Free cash flow yield-153.6%-647.2%-96.4%-183.3%-44.0%0.0%
Earnings yield-198.8%-660.7%-178.0%-218.3%-34.1%-16.9%
Enterprise valueSEK 18.2MSEK 23.2MSEK 10.4MSEK 15.7MSEK 44.1MSEK 41.6M
Net debt / EBITDA-0.84×-1.56×-0.01×0.05×0.07×0.57×
Cash conversion cycle (days)252610396404629300