Bambuser AB (publ) (BUSER.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

-276.6%

-SEK 34.43

vs SEK 19.50 price

Levered DCF

-SEK 37.59

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-10.76

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	FY2021	FY2020	FY2019	FY2018
P/E	-0.85×	-1.12×	-0.96×	-3.88×	-13.76×	-32.84×	-7.26×	-1.06×
P/B	1.02×	0.6×	0.84×	1.32×	4.14×	6.15×	6.58×	2.83×
P/S	1.16×	1.21×	1.42×	3.75×	20.07×	67.73×	44.38×	4.66×
EV / EBITDA	0.08×	0.71×	0.02×	-3.04×	-14×	-28.19×	-7.27×	-0.84×
Gross margin	50.2%	76.8%	29.4%	19.8%	-27.6%	-72.8%	-295.7%	-210.7%
Operating margin	-142.9%	-116.8%	-150.7%	-105.6%	-145.4%	-204.9%	-621.0%	-438.7%
Net margin	-136.0%	-108.4%	-147.7%	-96.2%	-145.6%	-205.1%	-611.1%	-441.6%
Current ratio	2.57×	3.96×	5.43×	4.94×	8.42×	11.7×	4.52×	2.39×
Debt / equity	0×	0×	0×	0×	0×	0×	0.04×	0.19×
Interest coverage	-9,896.67×	-9,252.62×	-13,524.14×	-1,220.61×	-1,685.88×	-1,181.38×	-231.39×	-148.55×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	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	-120.1%	-53.4%	-87.3%	-33.9%	-30.0%	-18.6%	-90.6%	-268.2%
Return on invested capital	-126.1%	-57.5%	-89.1%	-37.3%	-28.9%	-18.1%	-86.6%	-223.5%
Return on assets	-79.7%	-42.7%	-74.4%	-29.6%	-26.6%	-16.8%	-76.1%	-167.8%
Free cash flow yield	-87.0%	-66.6%	-45.0%	-20.9%	-5.1%	-3.2%	-16.8%	-90.2%
Earnings yield	-117.6%	-89.2%	-103.9%	-25.7%	-7.3%	-3.0%	-13.8%	-94.8%
Enterprise value	-SEK 7M	-SEK 57.9M	-SEK 4.2M	SEK 401M	SEK 2.6B	SEK 1.8B	SEK 127.4M	SEK 14.4M
Net debt / EBITDA	1.15×	2.23×	1.3×	2.87×	2.87×	5×	0.84×	0.38×
Cash conversion cycle (days)	-33	-34	29	53	62	76	78	-21