Rederiaktiebolaget Gotland (publ) (GOTL-A.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

+151.9%

SEK 574.29

vs SEK 228.00 price

Levered DCF

SEK 415.61

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.11

Safe zone

Rating

B-

Overall 3 / 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	-76.22×	13.85×	11.74×	20.72×	47.82×	16.5×	22.53×	37.12×
P/B	1.24×	0.94×	0.91×	1.19×	1.2×	1.23×	0×	0×
P/S	1.79×	1.98×	2.05×	1.99×	2.4×	2.94×	0×	0×
EV / EBITDA	13.75×	5.89×	4.26×	3.49×	6.12×	9.33×	-2.12×	-0.11×
Gross margin	11.1%	9.7%	14.0%	-5.5%	3.4%	0.1%	11.9%	13.1%
Operating margin	0.5%	9.7%	19.0%	-5.5%	3.4%	0.1%	11.9%	13.1%
Net margin	-2.3%	14.3%	17.4%	9.6%	5.0%	17.8%	12.3%	8.5%
Current ratio	4.22×	5.17×	8.76×	9.28×	6.62×	6.14×	5.03×	4.92×
Debt / equity	0×	0×	0×	0.04×	0.04×	0.04×	0.35×	0.48×
Interest coverage	3.89×	0×	71.84×	-18.5×	12×	0×	4.74×	5.08×
Dividend yield	0.8%	0.5%	0.4%	0.4%	0.4%	0.0%	0.0%	0.0%
Payout ratio	-58.2%	6.5%	5.1%	7.4%	17.4%	0.0%	6.0%	8.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-1.6%	6.8%	7.8%	5.7%	2.5%	7.5%	7.4%	5.4%
Return on invested capital	0.3%	3.2%	6.1%	-2.1%	1.2%	0.0%	3.6%	3.9%
Return on assets	-1.3%	5.6%	6.7%	4.8%	2.1%	6.3%	4.7%	3.2%
Free cash flow yield	-4.7%	4.0%	3.9%	-0.2%	8.4%	5.1%	0.0%	0.0%
Earnings yield	-1.3%	7.2%	8.5%	4.8%	2.1%	6.1%	0.0%	0.0%
Enterprise value	SEK 6.4B	SEK 5B	SEK 3.7B	SEK 2.8B	SEK 3.3B	SEK 3.6B	-SEK 1.3B	-SEK 59.4M
Net debt / EBITDA	-0.58×	-0.28×	-1.28×	-3.7×	-4.17×	-4.81×	-2.12×	-0.11×
Cash conversion cycle (days)	2	4	4	-11	-19	-12	-11	5