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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
-3221.5%
-SEK 82.09
vs SEK 2.63 price
Levered DCF
-SEK 21.74
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
3.66
Safe zone
Rating
B
Overall 3 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E36.91×-0.88×-1.53×-2.39×-5.93×-22.79×-15.46×-36.08×
P/B4.82×3.01×1.2×0.99×2.92×14.81×9.42×20.53×
P/S0.89×0.29×0.41×0.98×1.72×5.08×10.07×7.68×
EV / EBITDA11.63×-1.99×-4.39×-5.86×-14.68×-30.59×-16.59×-41.61×
Gross margin1.4%37.5%43.2%-37.9%-29.4%-15.0%-52.3%-17.9%
Operating margin2.5%-8.3%-23.4%-37.9%-29.4%-15.0%-64.3%-27.1%
Net margin2.4%-32.9%-26.9%-41.0%-28.8%-22.8%-65.3%-22.0%
Current ratio1.36×1.07×1.26×1.83×1.09×1.31×4.35×2.66×
Debt / equity0.35×1.5×0.67×0.47×0.58×1.67×0.36×1.05×
Interest coverage2.35×-3.26×-11.46×-6.73×-4.39×-6.71×-17.87×-11.36×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity13.1%-340.4%-78.3%-41.4%-49.1%-66.4%-61.1%-58.7%
Return on invested capital8.7%-24.2%-35.1%-25.4%-27.2%-14.4%-44.2%-35.4%
Return on assets4.7%-56.8%-27.1%-22.5%-19.0%-14.3%-39.8%-24.4%
Free cash flow yield3.7%-4.8%-5.8%-27.7%-7.6%-3.8%-8.7%-5.0%
Earnings yield2.7%-113.2%-65.2%-41.9%-16.8%-4.5%-6.5%-2.9%
Enterprise valueSEK 187.4MSEK 80.3MSEK 103.5MSEK 75MSEK 80.3MSEK 74.7MSEK 68MSEK 70.4M
Net debt / EBITDA0.32×-0.66×-1.5×-1.7×-2.4×-3.09×-0.2×-1.89×
Cash conversion cycle (days)96126248219189269118102