Momentum Group AB (publ) (MMGR-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

+109.4%

SEK 266.39

vs SEK 127.20 price

Levered DCF

SEK 235.32

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.73

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	FY2019	FY2018	FY2017
P/E	40.69×	49.39×	37.83×	21.05×	83.65×	34.62×	57.47×	0×
P/B	9.41×	12.1×	10.43×	5.78×	21.21×	13.16×	33.68×	0×
P/S	2.46×	3.06×	2.8×	1.66×	6.51×	2.72×	4.03×	0×
EV / EBITDA	18.33×	22.6×	20.37×	12.15×	46.77×	21.81×	42.72×	0×
Gross margin	9.0%	47.4%	19.2%	56.4%	56.3%	42.9%	42.3%	0.0%
Operating margin	9.1%	9.5%	10.3%	10.6%	10.4%	10.4%	9.3%	0.0%
Net margin	6.0%	6.2%	7.4%	7.9%	7.8%	7.8%	7.0%	0.0%
Current ratio	1.44×	1.35×	1.47×	1.56×	1.53×	1.75×	1.33×	1.29×
Debt / equity	0.77×	0.67×	0.91×	0.4×	0.29×	0.75×	0.99×	0.83×
Interest coverage	9.43×	8.53×	11.29×	26.43×	22.14×	43.33×	55.5×	0×
Dividend yield	0.8%	0.6%	0.8%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	34.4%	30.3%	28.8%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2019	FY2018	FY2017
Return on equity	23.1%	24.5%	27.6%	27.5%	25.3%	37.8%	58.7%	0.0%
Return on invested capital	12.6%	14.3%	13.0%	17.7%	18.5%	21.2%	30.0%	0.0%
Return on assets	8.3%	8.9%	9.1%	11.7%	11.8%	14.1%	13.7%	0.0%
Free cash flow yield	4.3%	3.6%	3.9%	4.5%	1.7%	3.9%	2.1%	0.0%
Earnings yield	2.5%	2.0%	2.6%	4.8%	1.2%	2.9%	1.7%	0.0%
Enterprise value	SEK 8.2B	SEK 9.2B	SEK 6.9B	SEK 3.1B	SEK 9.8B	SEK 3.6B	SEK 5B	SEK 109M
Net debt / EBITDA	1.28×	1.12×	1.51×	0.72×	0.3×	1.16×	1.21×	0×
Cash conversion cycle (days)	78	92	94	113	99	92	95	0