Norditek Group AB (publ) (NOTEK.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

-330.9%

-SEK 13.94

vs SEK 6.04 price

Levered DCF

-SEK 19.67

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

2.5

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-97.27×	16.87×	179.31×	40.66×	16.96×	26.67×	24.83×
P/B	1.52×	1.96×	1.74×	2.74×	1.72×	5.26×	5.87×
P/S	1.48×	1.79×	1.59×	2.13×	1.58×	2.58×	3.41×
EV / EBITDA	31.47×	9.69×	15.01×	16.86×	9.31×	39.02×	14.95×
Gross margin	0.3%	15.9%	44.9%	42.8%	43.8%	42.0%	52.1%
Operating margin	0.3%	15.9%	7.2%	10.6%	12.1%	12.5%	17.8%
Net margin	-1.6%	10.6%	0.9%	5.2%	9.4%	9.6%	13.7%
Current ratio	4.37×	3.62×	3.33×	3.57×	2.61×	2.35×	4.07×
Debt / equity	0.68×	0.43×	0.53×	0.65×	0.56×	1.14×	0.22×
Interest coverage	0.11×	8.16×	1.58×	3.81×	6.89×	22.42×	38.15×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	1.9%	1.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	51.7%	26.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-1.6%	11.7%	1.0%	6.7%	10.2%	19.6%	23.5%
Return on invested capital	0.1%	8.2%	1.5%	5.1%	6.5%	8.4%	17.7%
Return on assets	-0.9%	6.4%	0.5%	3.4%	4.8%	6.9%	14.2%
Free cash flow yield	-16.6%	-3.0%	17.6%	-6.8%	-12.1%	-2.7%	1.9%
Earnings yield	-1.1%	6.0%	0.6%	2.5%	5.9%	3.7%	4.0%
Enterprise value	SEK 198.4M	SEK 213.8M	SEK 152M	SEK 241.3M	SEK 133.4M	SEK 217.5M	SEK 183.2M
Net debt / EBITDA	8.11×	0.98×	2.68×	3.22×	1.42×	6.37×	0.1×
Cash conversion cycle (days)	389	395	709	654	535	353	458