Railcare Group AB (publ) (RAIL.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

+486.8%

SEK 174.29

vs SEK 29.70 price

Levered DCF

SEK 123.35

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.27

Distress zone

Rating

B+

Overall 3 / 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	17.42×	20×	12.27×	13.13×	13.45×	13.24×	29.56×	-204.97×
P/B	2.23×	2.12×	1.95×	1.97×	2.47×	2.97×	3.98×	2.18×
P/S	1.04×	0.96×	0.95×	0.97×	1.24×	1.44×	1.65×	1.08×
EV / EBITDA	7.82×	6.76×	4.85×	7.01×	6.68×	6.88×	9.91×	18.21×
Gross margin	33.7%	11.2%	27.4%	25.5%	26.1%	29.4%	21.2%	26.8%
Operating margin	9.5%	10.4%	12.0%	10.5%	12.8%	15.0%	8.6%	0.6%
Net margin	6.0%	4.8%	7.7%	7.4%	9.3%	10.9%	5.6%	-0.5%
Current ratio	0.6×	0.56×	0.71×	0.94×	0.87×	0.69×	0.52×	0.68×
Debt / equity	3.03×	2.07×	0.76×	0.89×	0.98×	1.16×	1.42×	1.5×
Interest coverage	2.83×	3.1×	4.1×	9.61×	12.81×	12.61×	5.72×	0.29×
Dividend yield	2.4%	2.8%	2.7%	3.0%	2.7%	1.2%	0.0%	1.1%
Payout ratio	42.4%	55.6%	33.2%	39.4%	35.7%	16.5%	0.0%	-231.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.8%	10.6%	15.9%	15.1%	18.3%	22.5%	13.5%	-1.1%
Return on invested capital	4.8%	5.3%	10.3%	7.9%	9.1%	10.3%	6.3%	0.2%
Return on assets	3.4%	2.9%	6.8%	6.2%	7.3%	8.4%	4.5%	-0.3%
Free cash flow yield	17.8%	14.1%	7.8%	2.9%	10.5%	5.0%	7.1%	0.0%
Earnings yield	5.7%	5.0%	8.1%	7.6%	7.4%	7.6%	3.4%	-0.5%
Enterprise value	SEK 1.6B	SEK 1.1B	SEK 704.2M	SEK 667.6M	SEK 724.4M	SEK 781.3M	SEK 808.5M	SEK 467.4M
Net debt / EBITDA	4.37×	3.15×	1.16×	1.95×	1.65×	1.78×	2.41×	6.88×
Cash conversion cycle (days)	73	44	45	46	46	43	26	17