Careium AB (Publ) (CARE.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

+128.9%

SEK 66.40

vs SEK 29.00 price

Levered DCF

SEK 179.07

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.17

Grey 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
P/E	17.76×	12.63×	14.81×	-25.7×	150.75×	41.69×	62.94×
P/B	0.85×	1.09×	0.94×	0.39×	1.31×	2.02×	2.04×
P/S	0.68×	0.85×	0.68×	0.3×	1.23×	1.49×	1.64×
EV / EBITDA	6.08×	5.99×	5.48×	7.39×	13.43×	11.76×	12.87×
Gross margin	43.9%	42.9%	41.3%	37.7%	40.9%	41.5%	42.1%
Operating margin	6.0%	9.6%	7.2%	-2.2%	1.5%	5.4%	4.7%
Net margin	4.2%	6.7%	4.6%	-1.2%	0.8%	3.6%	2.6%
Current ratio	1.69×	1.66×	1.6×	1.87×	2.18×	1.38×	1.43×
Debt / equity	0.31×	0.29×	0.38×	0.57×	0.53×	0.41×	0.33×
Interest coverage	2.74×	6.32×	3.58×	-1.84×	3.91×	11.83×	18.83×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.3%	8.6%	6.3%	-1.5%	0.9%	4.9%	3.3%
Return on invested capital	5.6%	7.5%	5.5%	-1.0%	0.5%	3.4%	2.4%
Return on assets	3.3%	5.6%	3.9%	-0.9%	0.4%	2.6%	2.0%
Free cash flow yield	8.9%	5.0%	11.0%	-39.8%	-9.8%	0.3%	2.4%
Earnings yield	6.2%	7.9%	6.7%	-3.9%	0.6%	2.4%	1.6%
Enterprise value	SEK 733.8M	SEK 902M	SEK 755.7M	SEK 501.6M	SEK 874.4M	SEK 905.4M	SEK 851.7M
Net debt / EBITDA	1.28×	1.09×	1.41×	4.16×	2.3×	1.62×	1.07×
Cash conversion cycle (days)	61	74	61	88	85	65	75