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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
-1931.2%
-SEK 0.42
vs SEK 0.02 price
Levered DCF
-SEK 0.52
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-1.01
Distress zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-1×0.69×-0.22×-0.22×-1.08×-0.93×0×
P/B-253.15×0.52×0.43×0.48×0.98×0.78×0×
P/S0.83×0.02×0.03×0.08×1.48×13.94×0×
EV / EBITDA-1.52×1.87×-1.85×-2.04×-1.64×-0.72×0×
Gross margin19.6%9.1%10.2%13.4%18.9%52.1%0.0%
Operating margin-76.8%4.0%-13.7%-32.7%-122.5%-1455.9%0.0%
Net margin-82.9%2.4%-15.3%-35.5%-137.9%-1503.4%0.0%
Current ratio0.93×0.83×0.88×1.68×0.88×2.66×0×
Debt / equity-13.59×4.45×2.22×0.95×0.52×0.02×0×
Interest coverage-10.59×2.27×-8.01×-11.41×-10.12×-393.98×0×
Dividend yield0.0%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%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity25323.5%74.4%-197.6%-217.7%-90.7%-84.2%0.0%
Return on invested capital-58.0%23.0%-54.3%-101.4%-52.0%-79.3%0.0%
Return on assets-35.8%7.9%-42.8%-88.8%-35.5%-63.0%0.0%
Free cash flow yield-10.2%116.1%-68.9%-289.4%-136.0%-206.2%0.0%
Earnings yield-100.0%143.9%-456.1%-451.4%-92.9%-107.9%0.0%
Enterprise valueSEK 44.3MSEK 36MSEK 44.8MSEK 34.1MSEK 53.8MSEK 15.1MSEK 0
Net debt / EBITDA-0.04×1.65×-1.52×-1.05×-0.33×0.25×0×
Cash conversion cycle (days)2413235524714,7240