Cantargia AB (publ) (CANTA.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

+1047.8%

SEK 20.43

vs SEK 1.78 price

Levered DCF

SEK 11.78

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.27

Safe zone

Rating

Overall 4 / 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	7.08×	-1.92×	-2.28×	-1.06×	-5.04×	-39.75×	-15.5×	-12.43×
P/B	3.91×	2.67×	3.78×	1.01×	3.47×	7.71×	12.11×	7.34×
P/S	3.28×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	4.91×	-1.68×	-1.75×	-0.56×	-4.41×	-36.39×	-15.19×	657.24×
Gross margin	99.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	48.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	46.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	9.8×	3.04×	3.91×	5.43×	8.87×	29.96×	6.69×	10.27×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	11.37×	0×	-45.51×	-95,387.25×	-123,422.33×	-173,945×	0×	-93,306×
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	55.3%	-139.0%	-165.9%	-95.4%	-68.8%	-19.4%	-77.9%	-58.8%
Return on invested capital	57.9%	-144.8%	-171.7%	-97.9%	-69.4%	-19.4%	-78.3%	-60.2%
Return on assets	49.5%	-94.9%	-125.2%	-78.3%	-61.1%	-18.7%	-66.7%	-53.2%
Free cash flow yield	14.4%	-52.4%	-44.9%	-92.8%	-18.8%	-2.4%	-6.9%	-9.2%
Earnings yield	14.1%	-52.1%	-43.9%	-94.3%	-19.8%	-2.5%	-6.4%	-8.0%
Enterprise value	SEK 757.4M	SEK 277.4M	SEK 498.4M	SEK 204.7M	SEK 1.6B	SEK 6.2B	SEK 1.7B	SEK 1.1B
Net debt / EBITDA	-1.83×	0.2×	0.49×	0.51×	0.68×	4.08×	0.36×	-47.41×
Cash conversion cycle (days)	-652	-1,166	-2,451	-514	-826	-1,200	-383,858	0