Lagercrantz Group AB (publ) (LAGR-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

-51.1%

SEK 112.05

vs SEK 229.00 price

Levered DCF

SEK 104.38

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.11

Safe 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	34.18×	41.7×	38.24×	34.77×	38.01×	41.41×	21.44×	20.67×
P/B	9.24×	11.08×	9.67×	8.77×	9.76×	8.67×	4.66×	4.68×
P/S	3.86×	4.53×	4.13×	3.64×	3.97×	3.93×	1.88×	1.79×
EV / EBITDA	20.01×	25.25×	21.39×	20×	21.89×	22.41×	12.7×	13.88×
Gross margin	39.3%	39.0%	39.3%	37.8%	38.2%	38.6%	37.4%	36.7%
Operating margin	15.5%	15.3%	15.3%	14.6%	14.0%	13.1%	11.6%	11.5%
Net margin	11.3%	10.9%	10.8%	10.5%	10.4%	9.5%	8.8%	8.7%
Current ratio	1.37×	1.35×	1.13×	1.5×	1.31×	1.02×	1.01×	0.87×
Debt / equity	1.02×	1.05×	0.94×	0.87×	0.97×	0.75×	0.8×	0.71×
Interest coverage	9.36×	10.21×	8.86×	14.07×	27.46×	20.54×	23×	23.74×
Dividend yield	1.1%	0.9%	1.0%	1.0%	1.0%	0.9%	2.3%	1.9%
Payout ratio	37.8%	38.5%	37.5%	35.0%	37.4%	36.1%	48.9%	40.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	27.1%	26.6%	25.3%	25.2%	25.7%	20.9%	21.7%	22.7%
Return on invested capital	12.6%	12.4%	13.2%	13.4%	12.4%	11.6%	11.5%	12.5%
Return on assets	9.4%	9.1%	8.9%	9.4%	9.2%	8.4%	8.4%	8.9%
Free cash flow yield	3.1%	2.8%	3.6%	3.4%	2.2%	4.3%	5.2%	5.4%
Earnings yield	2.9%	2.4%	2.6%	2.9%	2.6%	2.4%	4.7%	4.8%
Enterprise value	SEK 45.2B	SEK 46.1B	SEK 36.4B	SEK 28.7B	SEK 23.7B	SEK 17.3B	SEK 9.1B	SEK 8B
Net debt / EBITDA	1.86×	1.96×	1.7×	1.59×	1.8×	1.6×	1.73×	1.61×
Cash conversion cycle (days)	124	112	134	124	127	42	95	29