ByggPartner Gruppen AB (publ) (BYGGP.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

+125.6%

SEK 82.34

vs SEK 36.50 price

Levered DCF

SEK 138.37

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.57

Safe zone

Rating

S-

Overall 5 / 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	14.96×	11.95×	-2.74×	-4.78×	15.29×	14.31×	10.99×	10.88×
P/B	3.18×	1.3×	1.03×	1.39×	5.42×	4.54×	3.83×	2.83×
P/S	0.37×	0.13×	0.09×	0.11×	0.47×	0.41×	0.3×	0.23×
EV / EBITDA	8.45×	4.83×	-6.27×	-12.02×	8.75×	7.48×	5.07×	4.37×
Gross margin	6.6%	5.4%	-0.3%	0.4%	6.4%	6.2%	5.6%	4.9%
Operating margin	2.9%	1.8%	-3.6%	-2.6%	3.9%	3.7%	3.6%	2.8%
Net margin	2.5%	1.1%	-3.4%	-2.4%	3.1%	2.9%	2.8%	2.1%
Current ratio	0.91×	0.83×	0.87×	0.82×	1.11×	1.12×	1.11×	1.1×
Debt / equity	0.17×	0.41×	0.58×	0.92×	0.13×	0.1×	0.12×	0.04×
Interest coverage	17.44×	5.89×	-6.91×	-10.52×	284.89×	121.69×	58.49×	61.6×
Dividend yield	1.2%	0.0%	0.0%	10.2%	4.0%	5.2%	5.6%	8.0%
Payout ratio	18.0%	0.0%	0.0%	-48.6%	60.8%	73.8%	62.0%	86.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.2%	10.9%	-37.7%	-29.1%	35.5%	31.7%	34.8%	26.0%
Return on invested capital	15.7%	8.5%	-19.3%	-12.5%	29.7%	225.9%	30.3%	24.3%
Return on assets	6.8%	3.1%	-9.2%	-5.0%	8.9%	7.2%	8.2%	6.6%
Free cash flow yield	14.2%	11.7%	-30.4%	-17.3%	7.6%	3.4%	12.9%	31.0%
Earnings yield	6.7%	8.4%	-36.5%	-20.9%	6.5%	7.0%	9.1%	9.2%
Enterprise value	SEK 1.8B	SEK 802.7M	SEK 620.2M	SEK 656M	SEK 922.9M	SEK 619.3M	SEK 426.1M	SEK 233.4M
Net debt / EBITDA	-0.27×	0.98×	-1.71×	-3.85×	-1.35×	-1.73×	-1.96×	-2.72×
Cash conversion cycle (days)	21	31	24	32	28	25	-47	17