Gigasun AB (publ) (GIGA.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

-8159.8%

-SEK 44.97

vs SEK 0.56 price

Levered DCF

-SEK 55.38

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.34

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	-18.77×	-4.73×	-3.97×	-26.39×	69.1×	-8.48×	-59.38×	285×
P/B	0.29×	0.27×	0.53×	1.41×	2.22×	4.06×	4.71×	4.4×
P/S	0.69×	0.84×	1.69×	4.68×	9.44×	9.53×	13.61×	28.66×
EV / EBITDA	10.46×	9.7×	13.26×	13.42×	11.82×	43.23×	28.29×	31.05×
Gross margin	18.2%	100.0%	100.0%	20.7%	21.1%	28.3%	27.0%	100.0%
Operating margin	18.2%	32.8%	40.5%	36.0%	94.7%	-1.5%	72.8%	113.5%
Net margin	-3.5%	-17.8%	-42.7%	-18.5%	13.7%	-112.3%	-23.1%	10.5%
Current ratio	0.31×	0.35×	0.21×	0.11×	0.93×	1.37×	0.59×	0.32×
Debt / equity	2.53×	2.29×	1.81×	1.96×	1.92×	4.36×	4.72×	2.1×
Interest coverage	0.45×	0.72×	0.71×	0.6×	1.27×	-0.02×	0.71×	1.44×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	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	-1.5%	-5.7%	-13.4%	-5.6%	3.2%	-47.9%	-8.0%	1.6%
Return on invested capital	1.2%	3.1%	4.4%	2.9%	4.9%	-0.1%	3.2%	5.5%
Return on assets	-0.3%	-1.3%	-3.7%	-1.5%	0.9%	-7.7%	-1.2%	0.4%
Free cash flow yield	-49.3%	-108.0%	-72.5%	-24.8%	-17.3%	-20.7%	-52.9%	-37.1%
Earnings yield	-5.2%	-21.2%	-25.2%	-4.0%	1.4%	-11.8%	-1.7%	0.4%
Enterprise value	SEK 1.3B	SEK 1.4B	SEK 1.3B	SEK 1.7B	SEK 1.9B	SEK 1.6B	SEK 1.6B	SEK 1.2B
Net debt / EBITDA	9.36×	8.62×	10.21×	7.59×	4.95×	21.43×	13.73×	9.51×
Cash conversion cycle (days)	-195	380	225	-463	-259	-97	-547	0