Röko AB (publ) (ROKO-B.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

+17.2%

SEK 2,379.88

vs SEK 2,030.00 price

Levered DCF

SEK 2,472.89

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.51

Grey zone

Rating

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
P/E	33.62×	45.58×	58.33×	75.36×	134.09×	519.88×
P/B	4.6×	5.74×	6.38×	8.64×	14.61×	40.46×
P/S	3.93×	5.1×	5.62×	7.31×	13.97×	47.38×
EV / EBITDA	17.48×	23.01×	27.15×	38.38×	72.26×	204.12×
Gross margin	44.7%	42.7%	40.5%	38.2%	37.9%	49.5%
Operating margin	18.1%	15.7%	14.6%	14.2%	15.0%	14.5%
Net margin	11.7%	11.4%	9.6%	8.9%	10.4%	9.1%
Current ratio	0.95×	1.11×	1.11×	0.63×	0.59×	0.54×
Debt / equity	0.26×	0.21×	0.28×	0.73×	0.7×	0.97×
Interest coverage	13×	11.96×	7.2×	8.62×	12×	6.85×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	13.7%	12.8%	10.9%	10.6%	10.9%	7.8%
Return on invested capital	8.7%	7.3%	6.6%	4.7%	4.9%	3.5%
Return on assets	6.5%	6.1%	5.1%	3.8%	3.8%	2.6%
Free cash flow yield	4.0%	3.3%	2.7%	1.5%	0.7%	0.1%
Earnings yield	3.0%	2.2%	1.7%	1.2%	0.7%	0.2%
Enterprise value	SEK 26.4B	SEK 32.3B	SEK 32.2B	SEK 33.7B	SEK 30.2B	SEK 29.6B
Net debt / EBITDA	0.67×	0.52×	0.55×	2.4×	2.66×	3.49×
Cash conversion cycle (days)	117	107	103	116	112	98