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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
-190.0%
-SEK 0.90
vs SEK 1.00 price
Levered DCF
-SEK 1.16
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
-34.91
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-1.73×-5.88×-151.73×-4,552.16×-137,719.77×-176,870.88×0×
P/B-4.74×-911.64×-1,045.94×4,667×40,090.57×40,610.25×0×
P/S109.73×26,054.69×99,120.07×23,642.1×134,093.37×175,258.16×0×
EV / EBITDA-2.68×-105.07×-160.82×-5,450.81×-151,216.21×-186,625.78×-0.05×
Gross margin-5590.7%-316.0%-2586.9%-59.7%112.4%172.0%83.9%
Operating margin-5982.7%-25856.0%-69138.1%-532.1%-110.7%-151.0%-43.3%
Net margin-6345.1%-111962.0%-65555.7%-517.7%-97.9%-97.3%-45.4%
Current ratio0.56×1.32×0.3×0.75×3.72×1.32×0.79×
Debt / equity-1.92×-6.09×-0.88×0.58×0.04×0.04×0.07×
Interest coverage-16.51×-248.62×-22.72×-19.61×-18.75×-56.85×-30.47×
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 equity273.8%3917.5%691.8%-102.2%-29.3%-22.6%-8.4%
Return on invested capital-279.6%-177.8%5689.0%-61.5%-21.8%-21.2%-6.9%
Return on assets-213.4%-481.1%-409.7%-48.3%-20.1%-15.9%-6.9%
Free cash flow yield-60.4%-4.2%-0.3%-0.0%-0.0%-0.0%0.0%
Earnings yield-57.8%-4.3%-0.7%-0.0%-0.0%-0.0%0.0%
Enterprise valueSEK 48.6MSEK 1.3BSEK 24.2BSEK 425.4BSEK 5.3TSEK 3.6TSEK 146.7K
Net debt / EBITDA-0.72×-0.48×-0.12×-0.49×1.96×0.87×-0.05×
Cash conversion cycle (days)2751,0784,1923332531641