Attendo AB (publ) (ATT.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

+306.6%

SEK 453.37

vs SEK 111.50 price

Levered DCF

SEK 394.89

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.46

Distress zone

Rating

A-

Overall 4 / 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	15.03×	17.83×	15.43×	-86.5×	110×	-7.9×	107.9×	12.37×
P/B	2.24×	1.5×	1.08×	0.78×	1.26×	1.47×	1.49×	2.06×
P/S	0.64×	0.42×	0.34×	0.27×	0.48×	0.58×	0.73×	1.16×
EV / EBITDA	7.08×	6.95×	6.43×	8.36×	9.82×	17.51×	10.62×	7.51×
Gross margin	16.9%	43.2%	34.2%	10.5%	11.0%	10.6%	4.8%	7.7%
Operating margin	9.2%	7.5%	7.4%	4.2%	5.9%	-2.3%	5.6%	6.5%
Net margin	4.3%	2.4%	2.2%	-0.3%	0.4%	-7.4%	0.7%	9.4%
Current ratio	0.76×	0.69×	0.75×	0.67×	0.71×	0.76×	0.83×	1.21×
Debt / equity	3.02×	3.14×	2.75×	2.96×	2.81×	2.68×	2.12×	0.86×
Interest coverage	2.14×	1.66×	1.57×	0.93×	1.16×	-0.43×	1.21×	1.34×
Dividend yield	1.5%	2.0%	0.0%	0.0%	0.0%	0.0%	1.1%	1.6%
Payout ratio	22.0%	35.3%	0.0%	0.0%	0.0%	0.0%	118.5%	19.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.9%	8.4%	7.0%	-0.9%	1.1%	-18.6%	1.4%	16.6%
Return on invested capital	6.2%	4.9%	4.9%	3.1%	2.3%	-1.5%	2.8%	4.3%
Return on assets	3.2%	1.8%	1.6%	-0.2%	0.3%	-4.5%	0.4%	7.5%
Free cash flow yield	21.6%	28.2%	35.9%	29.0%	19.5%	18.2%	10.2%	4.2%
Earnings yield	6.7%	5.6%	6.5%	-1.2%	0.9%	-12.7%	0.9%	8.1%
Enterprise value	SEK 27.4B	SEK 23.9B	SEK 19.6B	SEK 18.2B	SEK 19.6B	SEK 19.4B	SEK 20.5B	SEK 15.2B
Net debt / EBITDA	3.92×	4.62×	4.53×	6.57×	6.71×	11.06×	6.12×	1.21×
Cash conversion cycle (days)	20	22	23	29	29	29	36	-13