Investment AB Öresund (publ) (ORES.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

-95.7%

SEK 6.29

vs SEK 148.00 price

Levered DCF

SEK 3.31

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

16.67

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	FY2020	FY2019	FY2018
P/E	6.12×	19.96×	19.61×	-2.85×	5.25×	-33.44×	13.5×	11.94×
P/B	1×	1.04×	1.04×	1.01×	0.99×	0.99×	1×	1×
P/S	30.63×	11.65×	18.91×	-2.85×	5.22×	-33.77×	13.4×	11.79×
EV / EBITDA	6.16×	10.87×	19.41×	-2.5×	5.15×	-32.83×	12.51×	11.27×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating margin	491.1%	100.3%	88.5%	100.2%	99.5%	101.0%	99.3%	98.8%
Net margin	500.6%	100.3%	96.5%	100.2%	99.5%	101.0%	99.3%	98.8%
Current ratio	19.45×	36,720.89×	1,139.65×	1,262.11×	715.12×	741.22×	2,717.14×	11,580.83×
Debt / equity	0×	0×	0×	0×	0.01×	0.02×	0.01×	0.01×
Interest coverage	0×	3,113.91×	1,838.72×	-37,256.58×	39,466.38×	-5,831.9×	57,009.25×	0×
Dividend yield	6.2%	6.5%	6.4%	6.2%	4.1%	4.8%	4.1%	0.0%
Payout ratio	38.1%	75.1%	125.4%	-17.6%	21.6%	-161.3%	54.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.3%	8.9%	5.3%	-35.6%	18.9%	-3.0%	7.4%	8.3%
Return on invested capital	15.8%	8.9%	4.8%	-35.4%	18.7%	-2.9%	7.4%	8.1%
Return on assets	16.1%	8.9%	5.3%	-35.4%	18.7%	-2.9%	7.4%	8.2%
Free cash flow yield	3.0%	3.8%	2.8%	1.3%	2.1%	0.4%	1.8%	2.9%
Earnings yield	16.3%	8.6%	5.1%	-35.1%	19.1%	-3.0%	7.4%	8.4%
Enterprise value	SEK 5.2B	SEK 4.6B	SEK 4.5B	SEK 4.2B	SEK 6.5B	SEK 5.5B	SEK 5.7B	SEK 5.6B
Net debt / EBITDA	-0.07×	-0.74×	-1.62×	0.35×	-0.1×	0.64×	-0.98×	-0.67×
Cash conversion cycle (days)	8	-24	1	-3,812	-3,239	-3,323	-8,577	2