Bufab AB (publ) (BUFAB.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

-48.5%

SEK 68.27

vs SEK 132.60 price

Levered DCF

SEK 123.54

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.03

Safe 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	FY2020	FY2019	FY2018
P/E	30.47×	30.19×	25.67×	14.4×	35.62×	24.15×	3.86×	2.54×
P/B	4.73×	0.85×	0.86×	0.58×	1.41×	0.75×	0.56×	0.4×
P/S	2.36×	0.41×	0.34×	0.21×	0.57×	0.3×	0.22×	0.17×
EV / EBITDA	17.2×	5.61×	4.99×	4.63×	6.25×	4.66×	6.01×	4.37×
Gross margin	31.9%	29.7%	28.7%	28.3%	27.9%	26.3%	27.2%	28.7%
Operating margin	11.7%	11.1%	11.2%	11.0%	11.3%	9.5%	8.5%	9.5%
Net margin	7.8%	6.9%	6.6%	7.2%	8.0%	6.3%	5.8%	6.7%
Current ratio	2.64×	2.8×	2.76×	1.86×	2.33×	2.64×	2.85×	3×
Debt / equity	0.89×	0.9×	1.05×	1.33×	0.95×	0.93×	1.36×	0.8×
Interest coverage	5.41×	4.26×	4.22×	7.95×	16.2×	7.66×	7.51×	11.93×
Dividend yield	1.0%	5.7%	6.1%	8.0%	3.1%	0.0%	9.6%	13.1%
Payout ratio	31.8%	34.3%	31.4%	23.0%	21.9%	0.0%	37.2%	33.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.5%	14.1%	16.8%	20.1%	19.8%	15.5%	14.5%	15.9%
Return on invested capital	9.1%	9.0%	10.2%	9.1%	9.8%	8.4%	6.2%	9.2%
Return on assets	6.7%	6.0%	6.7%	6.5%	7.2%	6.0%	4.8%	6.9%
Free cash flow yield	4.5%	30.8%	46.1%	-6.4%	4.1%	34.9%	32.8%	8.2%
Earnings yield	3.3%	16.6%	19.5%	34.7%	14.1%	20.7%	25.9%	39.4%
Enterprise value	SEK 22.4B	SEK 6.6B	SEK 6.3B	SEK 5.5B	SEK 5.3B	SEK 3B	SEK 3.1B	SEK 1.8B
Net debt / EBITDA	2.59×	2.8×	2.66×	3.15×	2.31×	2.38×	4.15×	2.79×
Cash conversion cycle (days)	159	204	185	222	181	149	193	194