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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
+293.5%
SEK 0.22
vs SEK 0.06 price
Levered DCF
SEK 0.22
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
-42.87
Distress 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-0.54×-0.46×-0.09×-1.58×-4.17×-6.67×-11.86×-11.91×
P/B1.21×3.01×0.4×0.94×1.51×1.64×3.8×2.23×
P/S114.1×37.67×16.92×200.84×776.94×2,714.29×3,813.26×3,097.3×
EV / EBITDA-0.02×-0.17×0.28×-1.14×-2.96×-4.06×-10.81×-7.69×
Gross margin-11606.4%100.0%-324.3%-267.8%1873.6%11155.2%7604.5%7632.3%
Operating margin-11606.4%-11752.0%-18822.9%-16694.3%-19756.0%-37203.9%-32120.8%-26371.1%
Net margin-21301.5%-8221.4%-19646.9%-12666.7%-18649.1%-40732.3%-32168.8%-26019.2%
Current ratio5.12×1.34×2.69×4.8×9.07×14.05×9.4×25.83×
Debt / equity0.01×0.06×0.06×0.15×0.08×0.06×0.11×0×
Interest coverage-1.2×-58.82×-254.25×-119.47×-116.44×-94.98×-86.76×-125,837.63×
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-225.4%-657.1%-461.9%-59.5%-36.3%-24.6%-32.0%-18.7%
Return on invested capital-108.4%-887.4%-415.9%-58.6%-35.7%-21.3%-30.1%-19.0%
Return on assets-165.4%-231.6%-313.6%-48.2%-31.9%-22.3%-27.3%-18.1%
Free cash flow yield-100.3%-275.9%-555.9%-77.1%-27.0%-17.1%-9.5%-11.8%
Earnings yield-186.7%-218.2%-1161.3%-63.1%-24.0%-15.0%-8.4%-8.4%
Enterprise valueSEK 1.6MSEK 10.4M-SEK 45.9MSEK 161.5MSEK 401.6MSEK 547.2MSEK 1.1BSEK 644M
Net debt / EBITDA0.99×0.4×0.44×0.48×1.88×3.23×2.15×4.61×
Cash conversion cycle (days)6711,079-1281,2011,9624,4283,5699,656