Corem Property Group AB (publ) (CORE-B.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

-468.8%

-SEK 7.71

vs SEK 2.09 price

Levered DCF

SEK 15.66

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.01

Distress zone

Rating

Overall 2 / 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	-1.69×	-7.12×	-1.44×	2.99×	5.81×	-60.65×	3.23×	3.27×
P/B	0.34×	0.35×	0.52×	0.29×	0.73×	0.89×	1.2×	0.73×
P/S	1.61×	2.04×	2.7×	2.02×	8.31×	7.22×	10.23×	4.01×
EV / EBITDA	-12.96×	338.24×	16.78×	-44.68×	11.16×	16,291.47×	17,427.28×	7.97×
Gross margin	63.7%	63.9%	67.9%	65.3%	64.1%	74.7%	72.9%	76.0%
Operating margin	60.3%	59.6%	63.7%	26.2%	181.5%	164.7%	264.2%	76.0%
Net margin	-95.6%	-28.7%	-187.8%	67.6%	157.3%	-12.1%	324.0%	122.6%
Current ratio	0.16×	0.08×	0.03×	0.2×	0.12×	0.02×	0.65×	0.03×
Debt / equity	1.83×	1.53×	1.58×	1.58×	1.43×	1.35×	0.93×	1.75×
Interest coverage	1.69×	1.69×	1.83×	1.01×	7.46×	5.02×	8.58×	2.34×
Dividend yield	9.4%	8.8%	7.2%	6.9%	1.9%	4.3%	2.4%	5.6%
Payout ratio	-15.8%	-62.2%	-10.4%	20.7%	10.2%	-257.4%	7.6%	18.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-20.1%	-4.9%	-36.2%	9.7%	13.7%	-1.5%	38.1%	22.3%
Return on invested capital	3.4%	3.2%	3.6%	1.3%	4.6%	-8.2%	14.2%	4.2%
Return on assets	-6.2%	-1.7%	-12.3%	3.3%	5.0%	-0.6%	18.2%	7.5%
Free cash flow yield	14.6%	12.2%	6.3%	24.2%	3.8%	5.7%	-0.4%	2.4%
Earnings yield	-59.3%	-14.1%	-69.6%	33.4%	18.9%	-1.7%	31.7%	30.6%
Enterprise value	SEK 33.9B	SEK 39.9B	SEK 45.7B	SEK 57.6B	SEK 71.5B	SEK 16.3B	SEK 17.4B	SEK 13.2B
Net debt / EBITDA	-10.83×	274.47×	12.58×	-37.65×	7.38×	9,835×	7,592×	5.63×
Cash conversion cycle (days)	0	20	-47	-235	-300	-74	-93	-87