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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
-2371.8%
-SEK 9.77
vs SEK 0.43 price
Levered DCF
-SEK 14.23
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
0.36
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-17.91×-19.25×-2.82×-5.74×-0.75×-0.13×-0.31×-0.44×
P/B3.5×11.81×4.88×8.5×1.13×0.29×0.12×0.09×
P/S6.02×12.14×12.57×8.31×7.54×21.34×11.75×3.51×
EV / EBITDA-30.89×-23.54×-2.92×-5.99×-1.11×0.31×-0.04×0.62×
Gross margin-33.6%69.6%66.6%-199.2%-110.1%-7578.3%-3846.2%-902.3%
Operating margin-33.6%-64.1%-447.8%-201.2%-110.1%-7596.2%-3846.2%-902.3%
Net margin-33.6%-63.1%-447.9%-260.2%-1000.4%-16760.4%-3810.1%-799.5%
Current ratio2.05×3.24×1.47×2.38×11.25×6.27×2.61×3.49×
Debt / equity0.02×0.06×0.07×0.26×0.23×0.03×0.04×0×
Interest coverage0×-127.41×-505.88×-45.49×0×-467.75×-196.99×-23,708.5×
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 equity-19.6%-61.4%-174.0%-266.0%-149.8%-225.4%-39.3%-21.0%
Return on invested capital-15.1%-58.8%-544.5%-160.7%-15.4%-99.0%-38.3%-21.5%
Return on assets-12.4%-49.1%-140.7%-82.3%-146.1%-197.1%-36.2%-19.6%
Free cash flow yield-4.6%-7.5%-14.1%-9.1%-38.1%-271.3%-320.1%-274.2%
Earnings yield-5.6%-5.2%-35.6%-31.3%-132.7%-785.4%-324.2%-227.7%
Enterprise valueSEK 127.3MSEK 192.1MSEK 131.3MSEK 46MSEK 42.8M-SEK 55.4MSEK 2.8M-SEK 23.4M
Net debt / EBITDA4.03×0.41×-0.02×1.42×0.04×0.47×0.29×1.11×
Cash conversion cycle (days)1212437438525638791388