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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
-1589.6%
-SEK 125.13
vs SEK 8.40 price
Levered DCF
-SEK 53.41
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-11.26
Distress zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-6.6×-0.12×-0.02×-0.02×-0.02×-0.03×-0.01×
P/B25.24×-0.38×-0.04×0.06×0.02×0.03×0.02×
P/S0.3×0.35×0.03×0.01×0.01×0.01×0.01×
EV / EBITDA-37.16×-0.35×-0.12×-0.16×0.9×-1.22×0×
Gross margin-15.2%-182.2%-137.7%-33.6%-7.3%13.0%77.5%
Operating margin-0.9%-254.2%-173.3%-70.4%-31.4%-25.4%-120.0%
Net margin-4.8%-280.0%-176.1%-72.7%-33.4%-27.9%-120.2%
Current ratio0.43×0.16×0.18×0.8×1.1×0.63×0.52×
Debt / equity6.62×-0.6×-0.26×0.57×0.26×0.88×0×
Interest coverage-0.24×-9.88×-60.81×-30.6×-15.68×-10.23×-529.78×
Dividend yield0.0%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%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-401.5%305.2%189.5%-353.1%-82.7%-122.7%-228.2%
Return on invested capital-10.3%695.5%258.0%-166.8%-53.0%-50.6%-227.8%
Return on assets-12.0%-613.2%-185.8%-64.1%-34.5%-33.5%-123.6%
Free cash flow yield-154.7%-76.8%209.7%-2402.8%-3278.7%-2334.1%-8136.4%
Earnings yield-15.9%-796.3%-5139.8%-6084.7%-4391.4%-3699.9%-13040.8%
Enterprise valueSEK 11.9MSEK 18.4MSEK 4.3MSEK 1.1M-SEK 4MSEK 3.9M-SEK 42.6K
Net debt / EBITDA-5×-0.21×-0.1×-0.13×0.95×-1.16×0.01×
Cash conversion cycle (days)3131321523554-161