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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
-122.2%
-SEK 0.31
vs SEK 1.41 price
Levered DCF
-SEK 1.43
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
43.43
Safe zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-4.2×-8.52×-3.4×-2×-5.15×-13.39×-11.21×-24.91×
P/B4.82×18.15×5.07×5.6×3.01×41.19×18.89×21.7×
P/S63.25×123.19×23.08×28.39×126.67×0×406.66×0×
EV / EBITDA-3.48×-8.96×-3.24×-1.72×-3.67×-41.52×-15.82×-27.87×
Gross margin-604.9%-1048.3%100.0%100.0%94.7%0.0%-601.0%0.0%
Operating margin-700.4%-1046.3%-437.0%-472.7%-1287.6%0.0%-1361.9%0.0%
Net margin-1496.3%-1450.5%-678.7%-1423.7%-2392.5%0.0%-2502.3%0.0%
Current ratio11.26×5.21×3.48×5.59×18.81×1.04×9.47×4.81×
Debt / equity0×0×0.12×0×0×0.15×0×0×
Interest coverage-36.05×-153×-159.48×-13,510.78×-303.2×-16,729.61×-5,349.35×-5,243.8×
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-114.1%-213.7%-149.1%-281.0%-56.8%-309.5%-116.2%-86.3%
Return on invested capital-53.4%-154.1%-86.0%-93.3%-30.6%-86.2%-63.3%-76.2%
Return on assets-104.0%-180.6%-117.4%-246.0%-54.1%-197.2%-109.1%-76.6%
Free cash flow yield-12.9%-8.2%-14.4%-17.0%-10.3%-1.4%-3.6%-5.5%
Earnings yield-23.7%-11.8%-29.4%-50.1%-18.9%-7.5%-6.2%-4.0%
Enterprise valueSEK 55.4MSEK 90.6MSEK 28.6MSEK 46.2MSEK 62.9MSEK 139.5MSEK 136.8MSEK 137.5M
Net debt / EBITDA1×0.48×0.59×0.27×1.64×0.42×0.47×0.69×
Cash conversion cycle (days)7239-644-5,963-160459-137