Knowit AB (publ) (KNOW.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

+283.0%

SEK 456.55

vs SEK 119.20 price

Levered DCF

SEK 446.63

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.88

Grey zone

Rating

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	-11.31×	35.57×	17.9×	14.51×	30.63×	24.04×	17.29×	13.08×
P/B	0.89×	0.91×	1.03×	1.33×	2.29×	3.92×	3.28×	2.67×
P/S	0.56×	0.59×	0.6×	0.82×	1.85×	1.78×	1.2×	0.95×
EV / EBITDA	28.24×	7.95×	6.99×	8.97×	15.36×	13.89×	9.89×	8.47×
Gross margin	2.9%	13.9%	15.1%	17.1%	17.9%	17.0%	16.9%	18.0%
Operating margin	3.2%	3.1%	4.4%	6.5%	7.5%	9.5%	9.4%	10.0%
Net margin	-4.9%	1.7%	3.4%	5.6%	6.0%	7.4%	7.0%	7.2%
Current ratio	1.12×	1.14×	1.1×	1.17×	1.09×	1.29×	1.29×	1.31×
Debt / equity	0.23×	0.25×	0.26×	0.38×	0.23×	0.34×	0.17×	0.04×
Interest coverage	4.05×	3.37×	17.22×	7.65×	26.38×	60.95×	22.54×	52.2×
Dividend yield	2.1%	4.1%	4.8%	3.7%	1.6%	0.1%	2.8%	3.4%
Payout ratio	-24.2%	144.8%	86.2%	53.0%	49.2%	3.4%	49.2%	44.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-7.8%	2.6%	5.8%	9.2%	7.5%	16.3%	19.0%	20.4%
Return on invested capital	4.0%	2.7%	4.5%	6.0%	5.8%	11.2%	13.5%	18.9%
Return on assets	-4.8%	1.6%	3.4%	5.1%	4.6%	8.2%	10.4%	11.6%
Free cash flow yield	9.7%	15.9%	8.2%	7.2%	5.1%	7.2%	7.2%	9.0%
Earnings yield	-8.8%	2.8%	5.6%	6.9%	3.3%	4.2%	5.8%	7.6%
Enterprise value	SEK 3.7B	SEK 4.4B	SEK 5.2B	SEK 6.7B	SEK 8.9B	SEK 5.9B	SEK 3.9B	SEK 2.8B
Net debt / EBITDA	3.86×	1.13×	1.27×	1.47×	0.07×	-0.36×	-0.19×	-0.45×
Cash conversion cycle (days)	-6	51	60	60	63	63	62	-14