Lifco AB (publ) (LIFCO-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

-43.6%

SEK 155.38

vs SEK 275.60 price

Levered DCF

SEK 145.07

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.42

Safe 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	44×	44.1×	34.17×	28.41×	51.46×	43×	34.56×	21.76×
P/B	8.35×	7.97×	7.36×	5.98×	11.55×	8.32×	6.57×	4.53×
P/S	5.66×	5.57×	4.58×	3.67×	7.03×	5.2×	3.75×	2.53×
EV / EBITDA	24.04×	23.19×	19.07×	16.71×	31.48×	24.87×	20.85×	14.57×
Gross margin	43.7%	44.3%	44.2%	41.8%	41.9%	42.2%	42.0%	42.8%
Operating margin	18.1%	18.7%	19.4%	18.3%	18.0%	16.4%	14.9%	15.9%
Net margin	12.9%	12.6%	13.4%	12.9%	13.7%	12.1%	10.9%	11.6%
Current ratio	0.99×	0.88×	0.88×	0.92×	0.9×	0.97×	0.79×	0.99×
Debt / equity	0.57×	0.57×	0.63×	0.62×	0.65×	0.57×	0.67×	0.53×
Interest coverage	12.54×	9.4×	11.16×	29.72×	46.19×	34.26×	33.75×	42.27×
Dividend yield	0.7%	0.8%	0.9%	1.1%	0.4%	0.7%	0.9%	1.3%
Payout ratio	30.0%	37.2%	29.7%	30.5%	22.8%	28.6%	32.6%	27.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.0%	18.1%	21.5%	21.0%	22.5%	19.3%	19.0%	20.8%
Return on invested capital	11.0%	10.7%	12.0%	11.3%	11.9%	10.9%	10.3%	12.5%
Return on assets	8.8%	8.5%	9.5%	9.4%	9.6%	9.1%	8.6%	10.0%
Free cash flow yield	2.9%	2.7%	3.6%	3.4%	2.1%	3.6%	3.3%	4.5%
Earnings yield	2.3%	2.3%	2.9%	3.5%	1.9%	2.3%	2.9%	4.6%
Enterprise value	SEK 169B	SEK 154.4B	SEK 119.8B	SEK 85.7B	SEK 128.4B	SEK 75.4B	SEK 56.6B	SEK 33.4B
Net debt / EBITDA	1.3×	1.33×	1.26×	1.28×	1.32×	1.24×	1.69×	1.37×
Cash conversion cycle (days)	115	116	118	118	105	96	105	103