K-Fast Holding AB (publ) (KFAST-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

-2367.5%

-SEK 231.73

vs SEK 10.22 price

Levered DCF

-SEK 347.65

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.28

Distress zone

Rating

B-

Overall 3 / 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	-41.68×	85.1×	-12.23×	5.7×	17.94×	19.4×	11.37×	21.73×
P/B	0.63×	0.8×	1.05×	0.98×	4.42×	2.87×	1.86×	5.44×
P/S	1.67×	3.61×	4.84×	3.66×	15.08×	43.06×	22.43×	43.28×
EV / EBITDA	33.59×	21.61×	47.67×	10.05×	16.83×	18.93×	12.81×	23.81×
Gross margin	32.9%	43.2%	36.2%	21.8%	21.5%	67.4%	58.8%	43.1%
Operating margin	32.7%	32.2%	26.3%	66.3%	108.4%	319.6%	247.1%	33.8%
Net margin	-4.0%	6.5%	-36.4%	65.5%	84.1%	221.6%	197.0%	198.4%
Current ratio	0.27×	0.05×	0.06×	0.15×	0.32×	0.71×	1.71×	0.6×
Debt / equity	3.1×	1.98×	2.01×	1.64×	1.4×	1.2×	1.18×	2.03×
Interest coverage	1.32×	0.87×	0.83×	6.73×	17.81×	14.25×	12.87×	2.48×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	3.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-1.5%	1.4%	-7.9%	17.6%	24.7%	14.8%	16.3%	24.9%
Return on invested capital	-6.5%	0.9%	1.4%	4.9%	9.6%	7.0%	7.5%	1.1%
Return on assets	-0.3%	0.4%	-2.4%	5.9%	9.1%	6.2%	6.8%	7.3%
Free cash flow yield	22.2%	-32.9%	3.6%	-35.8%	-5.6%	-9.8%	-11.3%	-7.8%
Earnings yield	-2.4%	1.8%	-7.5%	17.9%	5.6%	5.1%	8.8%	4.6%
Enterprise value	SEK 18.7B	SEK 14.5B	SEK 15.4B	SEK 13.5B	SEK 24.6B	SEK 12.6B	SEK 6B	SEK 7.3B
Net debt / EBITDA	27.89×	15.39×	31.28×	6.28×	4.01×	5.04×	3.97×	6.35×
Cash conversion cycle (days)	27	5	-36	18	45	44	-119	-30