Lindab International AB (publ) (LIAB.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

+164.5%

SEK 342.99

vs SEK 129.70 price

Levered DCF

SEK 365.66

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.31

Grey 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	21.14×	56.04×	18×	10.02×	25.63×	21.82×	13.47×	12.38×
P/B	2.19×	2.4×	2.11×	1.44×	4.35×	2.51×	1.82×	1.09×
P/S	1.24×	1.32×	1.17×	0.79×	2.54×	1.42×	0.92×	0.52×
EV / EBITDA	10.7×	15.53×	10.23×	7.13×	15.73×	12.6×	8.09×	7.91×
Gross margin	28.3%	27.7%	27.1%	28.0%	30.6%	28.6%	27.6%	26.1%
Operating margin	8.5%	5.5%	9.0%	10.7%	13.1%	9.2%	9.3%	5.9%
Net margin	5.9%	2.4%	6.5%	7.9%	5.6%	6.5%	6.9%	4.2%
Current ratio	1.81×	1.87×	2.08×	2.17×	1.79×	1.64×	1.64×	1.67×
Debt / equity	0.61×	0.64×	0.5×	0.53×	0.35×	0.38×	0.41×	0.26×
Interest coverage	4.79×	2.67×	6.4×	16.36×	32.46×	18.8×	18.67×	21.04×
Dividend yield	2.6%	2.4%	2.6%	3.1%	1.1%	1.0%	1.5%	2.4%
Payout ratio	54.7%	131.7%	47.0%	31.4%	48.4%	22.5%	19.8%	30.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.4%	4.3%	11.7%	14.4%	9.5%	11.5%	13.5%	8.8%
Return on invested capital	7.6%	3.9%	8.8%	9.7%	12.4%	8.2%	9.4%	6.8%
Return on assets	5.2%	2.0%	6.3%	7.5%	5.2%	6.3%	7.2%	5.0%
Free cash flow yield	6.4%	6.9%	9.3%	3.4%	1.3%	5.4%	8.1%	9.7%
Earnings yield	4.8%	1.8%	5.6%	10.0%	2.2%	4.6%	7.4%	8.1%
Enterprise value	SEK 20B	SEK 21.9B	SEK 18.3B	SEK 12.8B	SEK 26B	SEK 14.4B	SEK 10.7B	SEK 5.7B
Net debt / EBITDA	2.15×	3.01×	1.7×	1.72×	0.88×	1.24×	1.16×	1.18×
Cash conversion cycle (days)	111	106	111	133	120	40	36	82