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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
-4093.6%
-SEK 1.96
vs SEK 0.05 price
Levered DCF
-SEK 1.50
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
-5.17
Distress zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-5.13×-2.06×-2.54×-1.6×-8.11×-8.52×-2.35×122.26×
P/B13.99×9.7×4.35×0.83×4.68×16.28×3.19×1.1×
P/S1.17×1.3×1.24×0.8×5.59×13.48×3.91×11.53×
EV / EBITDA94.09×-2.67×-2.97×-4.05×-7.37×-11.75×-2.18×-5.13×
Gross margin55.3%-60.2%21.0%124.2%128.2%143.5%118.2%-388.8%
Operating margin-16.7%-60.2%-52.8%-55.2%-73.4%-144.7%-177.5%4.5%
Net margin-22.8%-63.1%-48.8%-48.1%-69.3%-157.8%-166.1%9.5%
Current ratio0.64×0.55×0.62×0.46×1.64×0.49×1.2×28.9×
Debt / equity0×0×0×0×0×0×0.1×0.1×
Interest coverage-2.86×-25.52×-118.12×-30.41×-91.37×-174.53×-68.53×0.29×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-273.4%-470.7%-171.3%-50.2%-58.0%-190.5%-135.5%0.9%
Return on invested capital-200.9%-449.8%-185.4%-112.1%-61.5%-174.6%-131.5%0.3%
Return on assets-24.0%-48.2%-43.8%-34.3%-39.5%-119.8%-95.1%0.9%
Free cash flow yield-27.6%-54.5%15.2%-62.8%-13.3%-10.5%-56.7%-22.7%
Earnings yield-19.5%-48.5%-39.4%-60.1%-12.4%-11.7%-42.5%0.8%
Enterprise valueSEK 31.9MSEK 23.5MSEK 20.9MSEK 13MSEK 78.5MSEK 157.9MSEK 41.9MSEK 47.2M
Net debt / EBITDA-23.15×1.05×1.8×0.64×0.87×0.08×0.23×-0.32×
Cash conversion cycle (days)-5027-1019715421428843