MTI Investment AB (MTI.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

-14884.3%

-SEK 89.45

vs SEK 0.61 price

Levered DCF

-SEK 166.52

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.1

Distress zone

Rating

C-

Overall 1 / 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
P/E	-2.49×	-0.7×	-0.98×	-3.33×	-4.34×	-4.36×	-2.62×
P/B	5.8×	1.33×	0.94×	1×	2.29×	2.64×	2.75×
P/S	1.59×	2.26×	4.88×	1.11×	3.73×	13.63×	5.65×
EV / EBITDA	-3.59×	-0.35×	-0.52×	0.91×	-3.88×	-6.6×	-3.12×
Gross margin	49.5%	-34.9%	15.6%	11.0%	26.9%	63.2%	46.0%
Operating margin	-57.9%	-232.5%	-478.2%	-87.2%	-79.6%	-246.2%	-96.4%
Net margin	-62.6%	-317.0%	-499.9%	-33.2%	-78.5%	-242.6%	-215.7%
Current ratio	0.57×	0.92×	1.44×	2.19×	2.12×	1.44×	1.04×
Debt / equity	0×	0×	0×	0×	0.08×	0.13×	0×
Interest coverage	-2.51×	-2.49×	-14.04×	-94.61×	-16.7×	-27.45×	-22.84×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-227.9%	-186.8%	-96.3%	-29.9%	-48.2%	-46.9%	-105.1%
Return on invested capital	-23.5%	-42.5%	-47.1%	-73.1%	-38.4%	-38.4%	-33.3%
Return on assets	-17.4%	-40.3%	-39.8%	-22.4%	-25.2%	-29.7%	-56.7%
Free cash flow yield	-22.5%	-40.7%	-51.5%	-72.7%	-6.8%	-21.3%	-8.9%
Earnings yield	-39.3%	-140.0%	-102.5%	-30.0%	-21.1%	-17.8%	-38.2%
Enterprise value	SEK 10.2M	SEK 241.4K	SEK 675.7K	SEK 1.3M	SEK 3M	SEK 3.2M	SEK 3.1M
Net debt / EBITDA	1.37×	0.99×	0.55×	-0.48×	2.76×	0.7×	0.33×
Cash conversion cycle (days)	54	25	-73	46	88	-615	-128