Asker Healthcare Group AB (ASKER.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

+93.3%

SEK 132.93

vs SEK 68.75 price

Levered DCF

SEK 118.84

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.8

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
P/E	67.52×	89.04×	157.92×	74.73×	68.61×
P/B	4.74×	9.24×	10.61×	11.6×	17.9×
P/S	1.85×	2.13×	2.38×	2.74×	3.43×
EV / EBITDA	17.21×	25.55×	32.72×	32.79×	42.51×
Gross margin	36.1%	39.1%	33.6%	32.3%	27.9%
Operating margin	7.6%	6.4%	4.3%	6.0%	6.4%
Net margin	2.9%	2.4%	1.5%	3.7%	5.0%
Current ratio	1.36×	1.4×	1.4×	1.53×	1.76×
Debt / equity	0.89×	1.72×	1.65×	1.72×	2.19×
Interest coverage	2.23×	3.03×	2.1×	3.96×	27.18×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	7.5%	10.4%	6.7%	15.6%	26.1%
Return on invested capital	7.3%	6.2%	4.3%	6.6%	8.7%
Return on assets	2.9%	2.7%	1.8%	4.2%	6.3%
Free cash flow yield	2.4%	2.7%	2.8%	2.7%	0.8%
Earnings yield	1.6%	1.1%	0.6%	1.3%	1.5%
Enterprise value	SEK 36B	SEK 37.5B	SEK 36.6B	SEK 36.6B	SEK 35.5B
Net debt / EBITDA	2.36×	3.72×	4.09×	4.06×	4.11×
Cash conversion cycle (days)	70	67	54	69	55