Nicoccino Holding AB (publ) (NICO.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

-419.2%

-SEK 4.76

vs SEK 1.49 price

Levered DCF

-SEK 7.41

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-15.13

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	FY2018
P/E	-2.88×	-4.79×	-10.14×	-5.39×	-17.56×	-10.3×	-11.61×	-31.85×
P/B	4.88×	2.55×	3.18×	1.62×	5.65×	2.25×	6.13×	9.19×
P/S	32.96×	104.91×	482.02×	263.13×	1,802.74×	983.4×	0×	0×
EV / EBITDA	-4.93×	-6.91×	-11.64×	-4.15×	-15.72×	-6.12×	-10.14×	-29.21×
Gross margin	-889.4%	15.7%	-3.1%	-354.0%	-821.4%	-146.3%	0.0%	0.0%
Operating margin	-889.4%	-2001.0%	-4466.3%	-4800.0%	-10237.5%	-9461.1%	0.0%	0.0%
Net margin	-1146.6%	-2163.5%	-4687.1%	-4801.3%	-10251.8%	-9501.9%	0.0%	0.0%
Current ratio	0.14×	0.36×	1.43×	16.54×	22.25×	19.5×	7.08×	13.2×
Debt / equity	0.22×	0.09×	0.05×	0×	0×	0.01×	0.03×	0×
Interest coverage	-3.46×	-12.11×	-19.68×	-7,200×	-1,433.25×	-1,021.8×	-961.2×	-1,383.33×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-169.6%	-52.6%	-30.9%	-29.5%	-32.1%	-21.7%	-53.6%	-28.8%
Return on invested capital	-113.7%	-44.8%	-28.1%	-29.5%	-31.9%	-21.5%	-56.2%	-30.6%
Return on assets	-45.0%	-34.2%	-24.9%	-28.6%	-30.9%	-20.6%	-45.7%	-26.6%
Free cash flow yield	-22.8%	-17.6%	-20.5%	-42.8%	-8.7%	-15.7%	-8.9%	-3.1%
Earnings yield	-34.8%	-20.6%	-9.7%	-18.2%	-5.7%	-9.7%	-8.7%	-3.1%
Enterprise value	SEK 29.7M	SEK 41.2M	SEK 74M	SEK 28M	SEK 86.3M	SEK 29.7M	SEK 45.5M	SEK 110.7M
Net debt / EBITDA	-0.07×	0.03×	0.72×	1.7×	2.66×	4.81×	1.94×	3.68×
Cash conversion cycle (days)	276	970	-764	1,891	1,371	-1,921	-9,636	-2,820