Genova Property Group AB (publ) (GPG.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

+183.6%

SEK 84.52

vs SEK 29.80 price

Levered DCF

-SEK 74.19

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.4

Distress 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	7.84×	15.38×	-4.05×	9.85×	9.16×	6.91×	6.46×	6.5×
P/B	0.62×	0.58×	0.52×	0.57×	1.56×	1.01×	2.01×	2.33×
P/S	3.56×	3.77×	3.63×	5.57×	17.43×	9.69×	13.91×	7.1×
EV / EBITDA	15.07×	16.89×	-36.17×	17.98×	11.65×	9.94×	7.93×	10.34×
Gross margin	69.3%	72.6%	73.1%	70.4%	73.6%	80.0%	78.7%	89.2%
Operating margin	59.5%	61.2%	-130.3%	116.0%	281.3%	219.2%	329.0%	28.0%
Net margin	45.3%	24.5%	-89.6%	56.6%	190.3%	155.9%	231.0%	109.2%
Current ratio	0.44×	0.18×	0.35×	0.4×	0.39×	1.33×	0.57×	0.77×
Debt / equity	2.56×	1.98×	1.81×	1.67×	1.48×	1.41×	1.81×	2.04×
Interest coverage	1.24×	1.16×	-2.59×	3.43×	8.89×	6.24×	11.48×	2.07×
Dividend yield	4.1%	3.6%	4.7%	2.6%	1.1%	1.6%	2.6%	5.6%
Payout ratio	32.2%	56.0%	-18.9%	25.3%	9.9%	10.1%	15.8%	36.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.9%	3.7%	-12.8%	5.8%	17.1%	16.3%	33.4%	35.8%
Return on invested capital	1.8%	2.0%	-5.0%	3.1%	7.3%	7.9%	12.6%	2.8%
Return on assets	1.8%	1.1%	-3.9%	1.9%	6.3%	6.2%	10.7%	10.6%
Free cash flow yield	4.8%	4.2%	6.1%	3.3%	1.3%	3.6%	0.3%	12.9%
Earnings yield	12.7%	6.5%	-24.7%	10.2%	10.9%	16.1%	16.6%	15.4%
Enterprise value	SEK 9.2B	SEK 8.4B	SEK 7.9B	SEK 8.4B	SEK 10.5B	SEK 5.6B	SEK 6.2B	SEK 4.2B
Net debt / EBITDA	12.08×	13.02×	-27.84×	13.25×	5.48×	5.37×	3.69×	4.6×
Cash conversion cycle (days)	-28	95	-22	-99	-241	-277	656	2,711