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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
-96.0%
SEK 0.05
vs SEK 1.24 price
Levered DCF
-SEK 0.06
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
4.35
Safe 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×-1.61×-2.79×-8.61×-24.44×-22.91×-48.15×-53.03×
P/B0.37×0.51×1.13×4.86×4.67×4.23×4.87×3.55×
P/S39.24×22.59×18.09×25.33×41.53×22.03×45.16×19.05×
EV / EBITDA-1.23×-1.66×-4.27×-11.09×-21.89×-19.87×-39.8×-46.41×
Gross margin-3959.5%652.1%248.3%100.7%138.3%117.0%137.1%99.7%
Operating margin-3959.5%-1400.0%-646.7%-282.5%-172.0%-92.7%-100.3%-48.9%
Net margin-3924.3%-1402.2%-648.4%-293.9%-169.8%-96.3%-93.8%-36.1%
Current ratio1.01×2.5×2.81×1.36×8.8×8.94×19.29×6.89×
Debt / equity0.04×0.06×0.07×0.11×0×0×0×0×
Interest coverage-97.45×-74.68×-89.48×-159.87×0×-54,969.82×-9,029.27×-1,130.74×
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 equity-36.8%-31.8%-40.4%-56.3%-19.1%-18.5%-10.1%-6.7%
Return on invested capital-36.0%-29.2%-37.8%-48.7%-19.3%-17.8%-10.5%-9.1%
Return on assets-33.1%-28.2%-35.8%-41.5%-17.6%-17.0%-9.7%-5.9%
Free cash flow yield-106.0%-70.1%-48.0%-18.6%-5.8%-7.3%-3.8%-2.7%
Earnings yield-100.0%-62.1%-35.8%-11.6%-4.1%-4.4%-2.1%-1.9%
Enterprise valueSEK 41.8MSEK 49.5MSEK 117.3MSEK 430.1MSEK 545.1MSEK 330.2MSEK 440.9MSEK 173.8M
Net debt / EBITDA0.05×0.56×0.39×0.09×3.81×3.71×8.05×14.16×
Cash conversion cycle (days)1,7759021426,090414535331-11,182