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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
-104.0%
-SEK 0.03
vs SEK 0.83 price
Levered DCF
-SEK 0.07
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-29.47
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.77×-4.05×-1.56×-0.67×-4.73×-7.56×-8.87×-16.27×
P/B-5.66×22.84×3.56×0.89×6.33×101.54×30.58×15.6×
P/S48.45×11.3×51.19×4.09×12.25×84.08×28.85×50.51×
EV / EBITDA-2.1×-8.63×-1.59×-0.69×-4.96×-8×-9.02×-16.18×
Gross margin-2255.6%23.5%-287.3%-9.0%19.3%110.2%137.1%227.9%
Operating margin-2268.0%-301.3%-3080.9%-605.7%-244.1%-1072.3%-300.6%-294.8%
Net margin-2743.3%-277.8%-3285.2%-610.2%-258.6%-1113.7%-324.8%-310.9%
Current ratio0.25×1.87×1.27×0.95×1.92×0.69×1.73×1.24×
Debt / equity0×0×0.02×0.06×0.18×3.21×0×0.09×
Interest coverage-4.91×-15.89×-47.38×-32.58×-33.59×-51.71×-24.78×-18.29×
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 equity320.4%-561.4%-228.3%-132.5%-133.7%-1345.0%-344.3%-96.0%
Return on invested capital264.9%-608.9%-172.2%-109.2%-65.2%-94.9%-71.1%-60.3%
Return on assets-909.5%-275.6%-129.7%-85.8%-56.0%-58.4%-58.1%-42.1%
Free cash flow yield-44.7%-20.0%-59.5%-117.7%-23.7%-14.9%-14.0%-7.7%
Earnings yield-56.6%-24.6%-64.2%-149.3%-21.1%-13.2%-11.3%-6.2%
Enterprise valueSEK 129.7MSEK 176.1MSEK 63.8MSEK 25.8MSEK 126.7MSEK 181.4MSEK 204.9MSEK 250.6M
Net debt / EBITDA0.05×0.1×0.14×0.06×0.33×-0.04×0.64×0.96×
Cash conversion cycle (days)3263385911072431,350532417