AVTECH Sweden AB (publ) (AVT-B.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

+508.5%

SEK 21.82

vs SEK 3.59 price

Levered DCF

SEK 9.09

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

12.67

Safe zone

Rating

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	28.8×	26.82×	24.69×	26.82×	-92.34×	-26.31×	593.75×	-92.63×
P/B	8.35×	7.07×	5.55×	5.34×	5.15×	1.97×	5.65×	6.31×
P/S	10.3×	9.72×	8.11×	7.79×	10.96×	4.26×	10.63×	14.22×
EV / EBITDA	21.65×	17.36×	15.04×	24.92×	69.15×	-133.98×	37.54×	-86.42×
Gross margin	67.1%	70.3%	76.7%	117.0%	121.8%	118.1%	137.8%	127.6%
Operating margin	34.6%	34.4%	32.8%	28.5%	-11.9%	-15.6%	3.0%	-15.6%
Net margin	35.9%	36.7%	32.9%	28.5%	-11.9%	-16.2%	2.4%	-15.4%
Current ratio	9.61×	8.22×	9.22×	8.13×	4.96×	3.91×	6.29×	6.34×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	0×	8,179.64×	4,294.21×	-6,425.9×	-21.15×	4.61×	-975×
Dividend yield	1.2%	1.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	33.2%	44.8%	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	29.1%	26.8%	22.5%	19.5%	-5.6%	-7.5%	1.3%	-6.8%
Return on invested capital	28.0%	25.1%	22.4%	19.5%	-5.6%	-7.2%	1.2%	-6.9%
Return on assets	26.7%	24.4%	20.8%	18.1%	-5.0%	-6.5%	1.2%	-6.1%
Free cash flow yield	0.0%	3.1%	3.7%	2.6%	-1.5%	-2.1%	0.6%	0.0%
Earnings yield	3.5%	3.8%	4.1%	3.7%	-1.1%	-3.8%	0.2%	-1.1%
Enterprise value	SEK 454.1M	SEK 305.9M	SEK 200.3M	SEK 152M	SEK 119.2M	SEK 40.2M	SEK 147.8M	SEK 161.7M
Net debt / EBITDA	-1.62×	-1.55×	-1.71×	-2.39×	-5.87×	40.18×	-3.35×	8.36×
Cash conversion cycle (days)	90	57	47	159	417	657	191	659