Bonäsudden Holding AB (publ) (BONAS.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

-282.1%

-SEK 245.84

vs SEK 135.00 price

Levered DCF

-SEK 358.80

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.12

Distress zone

Rating

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	10.55×	145.54×	-9.68×	-17.06×	3.59×	5.9×	5.14×	8.72×
P/B	0.52×	0.85×	0.73×	0.91×	1.04×	1.2×	1.25×	1.05×
P/S	5.89×	5.57×	4.89×	8.26×	8.92×	7.97×	7.29×	4.92×
EV / EBITDA	21.7×	25.02×	25.22×	-30.25×	5.02×	8.42×	7.8×	40.86×
Gross margin	72.7%	67.5%	77.5%	62.6%	65.1%	61.9%	59.0%	65.3%
Operating margin	56.7%	54.1%	84.2%	62.8%	53.9%	51.1%	187.3%	55.1%
Net margin	55.8%	3.0%	-50.5%	-48.4%	248.2%	135.2%	142.0%	56.4%
Current ratio	0.27×	0.19×	4.01×	4.55×	0.19×	1.77×	0.26×	1.63×
Debt / equity	1.51×	1.23×	1.24×	1.15×	0.99×	1.33×	1.58×	1.95×
Interest coverage	1.86×	1.67×	2.61×	3.08×	2.82×	2.48×	8.1×	0×
Dividend yield	0.0%	0.0%	1.4%	4.1%	3.3%	3.8%	4.3%	6.3%
Payout ratio	0.0%	0.0%	-13.1%	-69.7%	11.8%	22.4%	22.2%	55.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.9%	0.5%	-7.6%	-5.3%	28.9%	20.3%	24.4%	12.1%
Return on invested capital	1.5%	0.6%	4.5%	1.9%	2.4%	2.4%	9.6%	3.2%
Return on assets	1.9%	0.2%	-3.1%	-2.3%	13.1%	8.1%	8.9%	3.9%
Free cash flow yield	2.2%	3.8%	3.2%	3.1%	-1.4%	5.9%	2.6%	6.8%
Earnings yield	9.5%	0.5%	-10.3%	-5.9%	27.8%	17.0%	19.5%	11.5%
Enterprise value	SEK 1.1B	SEK 605.2M	SEK 571.6M	SEK 640.7M	SEK 712.8M	SEK 683.7M	SEK 634.6M	SEK 548.2M
Net debt / EBITDA	15.83×	13.7×	14.84×	-15.5×	2.28×	4.28×	4.16×	25.84×
Cash conversion cycle (days)	19	-30	-119	-52	2	-31	-40	-39