John Mattson Fastighetsföretagen AB (publ) (JOMA.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

+100.0%

SEK 104.00

vs SEK 52.00 price

Levered DCF

SEK 11.13

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.67

Distress zone

Rating

A-

Overall 4 / 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	13.41×	10.81×	-1.79×	32.46×	7.06×	12.29×	34×	15.09×
P/B	0.83×	0.78×	0.41×	0.72×	1.34×	1.72×	2.07×	1.25×
P/S	7.87×	7.22×	3.69×	6.46×	16.93×	20.01×	24.05×	14.33×
EV / EBITDA	17.21×	16.84×	-8.25×	34.79×	9.23×	14.2×	30.42×	21.34×
Gross margin	91.9%	89.3%	91.9%	83.6%	82.0%	84.5%	78.8%	70.7%
Operating margin	72.4%	71.5%	71.6%	18.0%	423.6%	228.4%	110.4%	47.7%
Net margin	58.7%	66.7%	-205.8%	19.9%	326.7%	162.9%	70.7%	95.0%
Current ratio	0.09×	0.28×	0.4×	0.05×	0.09×	0.06×	0.04×	0.33×
Debt / equity	1.13×	1.21×	1.37×	1.67×	1.9×	1.06×	0.89×	0.9×
Interest coverage	2.31×	2.04×	1.73×	0.61×	20.67×	11.38×	5.74×	2.71×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.2%	7.2%	-22.8%	2.2%	25.9%	14.0%	6.1%	8.3%
Return on invested capital	2.6%	2.8%	2.7%	0.4%	8.3%	6.6%	3.3%	1.8%
Return on assets	2.6%	2.9%	-8.6%	0.8%	8.1%	5.9%	2.8%	3.7%
Free cash flow yield	4.3%	3.8%	6.3%	-0.2%	1.7%	1.9%	0.7%	0.6%
Earnings yield	7.5%	9.2%	-55.8%	3.1%	19.3%	8.1%	2.9%	6.6%
Enterprise value	SEK 12.4B	SEK 11.8B	SEK 9.4B	SEK 13.2B	SEK 16.5B	SEK 9.5B	SEK 8.7B	SEK 5.9B
Net debt / EBITDA	9.86×	10.21×	-6.27×	24.24×	5.36×	5.39×	9.09×	8.94×
Cash conversion cycle (days)	68	-660	-773	-252	-334	-192	-98	-262