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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
-2166.8%
-SEK 0.39
vs SEK 0.02 price
Levered DCF
-SEK 0.44
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
30.02
Safe zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020
P/E-7×-120.67×-2.26×-2.8×-8.52×-6.26×
P/B2.46×14.9×-11,991.01×3.69×9.34×4.4×
P/S0.16×0.46×1.32×0.92×4.19×66.22×
EV / EBITDA34.38×61.23×-19.03×-7.6×-60.06×-5.87×
Gross margin0.4%1.6%-5.8%-2.9%1.0%-551.3%
Operating margin-2.4%-0.1%-46.0%-33.2%-10.1%-1109.1%
Net margin-2.4%-0.4%-58.4%-32.8%-49.2%-1057.5%
Current ratio2.35×2.88×0.32×0.55×1.13×1.72×
Debt / equity0×0.29×-2,174.35×0.37×0.2×0.27×
Interest coverage-112.77×-0.39×-2.62×-26.96×-0.26×-94.42×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020
Return on equity-35.3%-14.1%529394.1%-132.2%-109.7%-70.3%
Return on invested capital-35.6%-3.3%-191.8%-97.4%-18.8%-58.0%
Return on assets-32.9%-10.2%-205.5%-94.2%-90.3%-47.2%
Free cash flow yield-47.7%-5.0%-0.9%-19.7%-7.9%-8.8%
Earnings yield-14.3%-0.9%-44.1%-35.8%-11.7%-16.0%
Enterprise valueSEK 357.2MSEK 442.1MSEK 234MSEK 284.5MSEK 1.4BSEK 118.8M
Net debt / EBITDA-0.6×0.03×-2.45×-0.57×-0.43×0.48×
Cash conversion cycle (days)20-1013283