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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
-534.4%
-SEK 0.17
vs SEK 0.04 price
Levered DCF
-SEK 0.19
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
0.85
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-0.82×-1.47×-1.05×-1.32×-9.86×-5.6×-1.97×-4.63×
P/B-3.46×-0.31×-20.24×-8.61×7.19×3.33×5.9×4.07×
P/S0.47×0.21×0.8×1.33×7.18×9.34×7.74×4.74×
EV / EBITDA-1.34×-2.75×-1.94×-3.07×-15.35×-7.09×-2.54×-8.44×
Gross margin-50.6%29.1%61.3%-91.7%-90.3%-167.7%-223.4%-95.3%
Operating margin-50.6%-49.1%-67.8%-91.7%-90.3%-167.7%-223.4%-95.3%
Net margin-57.0%-57.6%-76.0%-100.6%-72.5%-167.1%-393.2%-102.5%
Current ratio0.18×0.22×0.7×0.18×0.84×1.19×0.27×0.3×
Debt / equity0×-1.28×-10.05×-6.47×0.45×0.31×0.55×0.7×
Interest coverage-6.23×-5.66×-8.23×-9.03×-24.3×-22.15×-13.12×-11.83×
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 equity420.7%84.0%1928.2%650.8%-72.6%-59.6%-299.4%-87.8%
Return on invested capital373.9%-258.1%-190.2%-108.5%-62.5%-43.0%-109.6%-48.0%
Return on assets-127.0%-110.0%-97.4%-79.5%-38.3%-32.3%-103.0%-37.4%
Free cash flow yield-89.3%-180.3%-59.4%-45.0%-14.2%-19.9%-25.7%-23.7%
Earnings yield-121.6%-271.7%-95.2%-75.6%-10.1%-17.9%-50.8%-21.6%
Enterprise valueSEK 5.7MSEK 16.5MSEK 14.6MSEK 33.9MSEK 100.3MSEK 60MSEK 56.8MSEK 57.2M
Net debt / EBITDA0.07×-2.2×-0.41×-1.26×-0.67×0.58×-0.2×-1.15×
Cash conversion cycle (days)-39-80-34-32-17-34-13-11