Generic Sweden AB (GENI.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

+26.7%

SEK 48.78

vs SEK 38.50 price

Levered DCF

SEK 72.29

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

11.75

Safe zone

Rating

A-

Overall 4 / 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	18.41×	24.89×	27.26×	20.48×	56.05×	47.16×	27.64×	14.23×
P/B	8.56×	12.24×	13.69×	10.87×	33.41×	23.17×	11.58×	3.26×
P/S	3.1×	3.83×	4.46×	3.27×	8.87×	6.29×	3.51×	1.51×
EV / EBITDA	12.94×	17.89×	20.24×	14.34×	40.48×	32.06×	17.47×	7.31×
Gross margin	21.1%	25.3%	26.8%	27.8%	28.0%	29.6%	30.4%	29.5%
Operating margin	21.0%	18.9%	20.1%	20.2%	20.0%	17.0%	16.2%	14.3%
Net margin	16.9%	15.4%	16.3%	16.0%	15.9%	13.4%	12.7%	10.7%
Current ratio	2.98×	2.94×	2.83×	2.65×	2.42×	2.49×	2.97×	2.82×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	7,715.4×	1,753.37×	14,310.5×	560.07×	692.09×	431.66×	401.14×	856.7×
Dividend yield	3.4%	2.7%	2.4%	2.9%	1.0%	1.9%	4.0%	13.5%
Payout ratio	63.4%	67.7%	65.9%	60.1%	54.3%	90.7%	111.7%	190.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	46.6%	49.3%	50.2%	53.2%	59.8%	49.2%	41.9%	23.1%
Return on invested capital	41.8%	42.9%	43.2%	45.8%	49.7%	38.5%	32.4%	19.6%
Return on assets	29.5%	30.6%	30.1%	30.1%	30.5%	24.4%	22.7%	13.9%
Free cash flow yield	6.8%	3.2%	3.1%	3.3%	1.8%	2.4%	3.2%	12.3%
Earnings yield	5.4%	4.0%	3.7%	4.9%	1.8%	2.1%	3.6%	7.1%
Enterprise value	SEK 512.1M	SEK 635.4M	SEK 610.3M	SEK 385.3M	SEK 981.8M	SEK 487.6M	SEK 223M	SEK 70.6M
Net debt / EBITDA	-1.47×	-1.14×	-0.84×	-1.21×	-1.28×	-1.48×	-1.59×	-2.11×
Cash conversion cycle (days)	35	44	42	33	10	-41	31	-51