Duroc AB (publ) (DURC-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

+230.3%

SEK 64.40

vs SEK 19.50 price

Levered DCF

SEK 63.51

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.45

Grey zone

Rating

B-

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	-7.43×	-332.65×	31.64×	-3.18×	15×	24.3×	7.96×	12.86×
P/B	0.74×	0.59×	0.63×	0.7×	0.78×	1.26×	0.98×	1.18×
P/S	0.27×	0.21×	0.23×	0.22×	0.26×	0.41×	0.29×	0.38×
EV / EBITDA	13.07×	5.99×	5.61×	-11.33×	7.58×	8.6×	4.54×	8.58×
Gross margin	44.5%	42.3%	42.5%	39.0%	37.7%	41.1%	41.5%	34.7%
Operating margin	-1.7%	1.1%	1.5%	-5.4%	2.2%	2.7%	2.9%	3.2%
Net margin	-3.6%	-0.1%	0.7%	-6.8%	1.7%	1.7%	3.7%	2.9%
Current ratio	1.78×	1.95×	2.11×	1.88×	1.75×	1.82×	2.06×	1.72×
Debt / equity	0.48×	0.28×	0.18×	0.26×	0.34×	0.32×	0.42×	0.5×
Interest coverage	-1.45×	1.84×	3.27×	-12.94×	9.76×	9.33×	6.19×	17.68×
Dividend yield	1.8%	1.9%	1.4%	1.3%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-13.6%	-615.8%	43.4%	-4.1%	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	-10.0%	-0.2%	2.0%	-21.9%	5.2%	5.2%	12.3%	9.2%
Return on invested capital	-2.8%	1.3%	2.6%	-13.1%	4.0%	4.1%	4.6%	6.0%
Return on assets	-5.0%	-0.1%	1.2%	-12.7%	2.7%	2.7%	5.9%	4.7%
Free cash flow yield	14.5%	7.3%	8.9%	20.5%	-10.7%	-1.7%	24.7%	0.8%
Earnings yield	-13.4%	-0.3%	3.2%	-31.4%	6.7%	4.1%	12.6%	7.8%
Enterprise value	SEK 985.4M	SEK 815.2M	SEK 830.8M	SEK 1B	SEK 1.4B	SEK 1.6B	SEK 1.2B	SEK 1.2B
Net debt / EBITDA	3.11×	1.35×	0.78×	-2.82×	2.2×	1.5×	0.99×	0.85×
Cash conversion cycle (days)	126	122	124	110	132	109	106	96