Kinda Brave Entertainment Group (BRAVE.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

-86.9%

SEK 0.29

vs SEK 2.23 price

Levered DCF

SEK 0.25

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-0.71

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-2.36×	-0.73×	-4.27×	-29.23×
P/B	38.41×	1.38×	11×	9.64×
P/S	192.74×	14.21×	1,762.44×	0×
EV / EBITDA	-2.66×	-1.63×	-4.57×	-28.75×
Gross margin	4984.8%	1831.9%	40026.8%	0.0%
Operating margin	-6157.2%	-1399.7%	-39136.6%	0.0%
Net margin	-8157.2%	-1942.5%	-41287.8%	0.0%
Current ratio	0.22×	0.24×	0.17×	0×
Debt / equity	0×	0.86×	0×	0×
Interest coverage	-3.08×	-2.58×	-17.58×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-1625.7%	-188.9%	-257.7%	-33.7%
Return on invested capital	-378.2%	-73.0%	-114.0%	0.0%
Return on assets	-47.4%	-55.9%	-71.7%	-17.4%
Free cash flow yield	-11.0%	-168.7%	-36.4%	-3.3%
Earnings yield	-42.3%	-136.7%	-23.4%	-3.5%
Enterprise value	SEK 72.9M	SEK 35.4M	SEK 72M	SEK 72.3M
Net debt / EBITDA	0.52×	-0.6×	0.02×	0×
Cash conversion cycle (days)	984	1,356	95	0