Lime Technologies AB (publ) (LIME.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

+164.9%

SEK 676.81

vs SEK 255.50 price

Levered DCF

SEK 640.91

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.26

Safe 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	34.17×	54.75×	49.68×	45.01×	77.87×	86.33×	49.8×	43.44×
P/B	10.62×	15.72×	15.66×	14.88×	33.85×	48.84×	28.34×	28.03×
P/S	5.11×	7.14×	7.18×	6.21×	11.31×	15.98×	6.71×	4.32×
EV / EBITDA	17.36×	24.14×	23.7×	21.24×	35.95×	45.27×	24.06×	22.33×
Gross margin	49.4%	48.2%	48.3%	64.1%	64.4%	50.7%	47.7%	46.1%
Operating margin	19.5%	19.6%	19.9%	18.5%	18.8%	24.6%	18.0%	13.0%
Net margin	14.9%	13.0%	14.4%	13.8%	14.5%	18.5%	13.5%	9.9%
Current ratio	0.53×	0.52×	0.56×	0.49×	0.56×	0.73×	0.61×	0.59×
Debt / equity	0.5×	0.81×	0.64×	1.09×	1.88×	0.88×	1.63×	2.84×
Interest coverage	11.65×	7.21×	10.94×	14.33×	16.65×	33.47×	21.1×	14.03×
Dividend yield	1.4%	0.9%	0.9%	1.1%	0.7%	0.4%	0.7%	7.1%
Payout ratio	47.6%	52.0%	44.6%	50.9%	56.6%	31.8%	34.0%	308.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	31.1%	28.7%	31.5%	33.0%	43.5%	56.6%	56.9%	64.5%
Return on invested capital	18.6%	15.4%	18.4%	14.7%	12.4%	27.6%	19.8%	15.3%
Return on assets	12.4%	9.7%	12.0%	10.2%	8.8%	17.2%	12.5%	9.0%
Free cash flow yield	3.5%	3.2%	2.7%	2.9%	2.2%	1.9%	2.8%	1.9%
Earnings yield	2.9%	1.8%	2.0%	2.2%	1.3%	1.2%	2.0%	2.3%
Enterprise value	SEK 3.9B	SEK 5.1B	SEK 4.3B	SEK 3.2B	SEK 4.8B	SEK 5.4B	SEK 2B	SEK 1.1B
Net debt / EBITDA	0.58×	0.96×	0.77×	1.24×	1.5×	0.27×	0.96×	1.68×
Cash conversion cycle (days)	50	49	54	47	41	52	59	66