Idun Industrier AB (publ) (IDUN-B.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

-13.5%

SEK 283.73

vs SEK 328.00 price

Levered DCF

SEK 295.90

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.98

Grey zone

Rating

B-

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	75.69×	106.38×	62.78×	32.67×	65.17×	136.43×	-606.9×	275×
P/B	6.72×	5.34×	4.16×	4.99×	7.98×	13.02×	13.24×	13.28×
P/S	1.78×	1.49×	0.86×	1.24×	2.68×	2.75×	2.71×	3.11×
EV / EBITDA	13.63×	10.7×	7.25×	9.34×	17.32×	22.23×	27.68×	24.91×
Gross margin	8.1%	29.5%	58.4%	36.9%	37.3%	27.0%	25.5%	26.2%
Operating margin	8.1%	8.4%	8.4%	9.1%	9.0%	6.2%	3.2%	6.4%
Net margin	2.3%	1.4%	1.4%	2.1%	2.7%	0.3%	-0.4%	1.1%
Current ratio	2×	2.38×	2×	2.36×	1.96×	1.73×	2.01×	2.09×
Debt / equity	1.63×	1.65×	2.34×	2.23×	1.58×	3.27×	3.11×	2.03×
Interest coverage	3×	2.46×	2.22×	3.18×	3.95×	1.79×	1.34×	2.07×
Dividend yield	0.3%	1.8%	0.5%	1.9%	0.8%	0.1%	0.2%	0.3%
Payout ratio	22.2%	196.0%	33.8%	111.4%	74.5%	138.3%	-98.0%	91.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.9%	5.0%	6.6%	8.5%	8.1%	1.2%	-2.2%	4.8%
Return on invested capital	5.6%	4.8%	4.9%	5.0%	4.4%	2.4%	0.1%	4.0%
Return on assets	2.3%	1.3%	1.2%	1.6%	1.8%	0.2%	-0.4%	1.0%
Free cash flow yield	3.8%	6.2%	11.4%	-0.6%	3.8%	2.3%	0.8%	1.3%
Earnings yield	1.3%	0.9%	1.6%	1.7%	1.0%	0.1%	-0.2%	0.4%
Enterprise value	SEK 4.9B	SEK 3.9B	SEK 2.5B	SEK 2.7B	SEK 3.5B	SEK 2.2B	SEK 2.1B	SEK 2B
Net debt / EBITDA	2.31×	1.7×	2.1×	2.08×	1.9×	3.34×	3.54×	1.83×
Cash conversion cycle (days)	116	126	181	152	140	99	108	93