RVRC Holding AB (publ) (RVRC.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

-32.8%

SEK 36.17

vs SEK 53.80 price

Levered DCF

SEK 65.69

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

10.23

Safe zone

Rating

Overall 4 / 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	18.19×	17.15×	16.15×	15.45×	16.31×	49.43×	165.66×	219.5×
P/B	4.8×	3.93×	3.98×	3.3×	4.82×	11.15×	15.81×	14.2×
P/S	3.02×	2.49×	2.71×	2.4×	3.53×	9.44×	25.63×	34.85×
EV / EBITDA	13.36×	12.48×	11.77×	11.36×	12.6×	35.93×	119.42×	172.85×
Gross margin	63.7%	69.8%	65.1%	72.2%	72.3%	72.3%	70.1%	71.5%
Operating margin	20.9%	18.5%	21.0%	19.9%	27.5%	25.7%	21.5%	20.1%
Net margin	16.6%	14.7%	16.7%	15.6%	21.6%	19.1%	15.4%	15.8%
Current ratio	2.2×	2.49×	2.48×	2.45×	1.64×	1.93×	2.58×	2.18×
Debt / equity	0.01×	0.01×	0.01×	0.01×	0.03×	0.31×	0.38×	0.2×
Interest coverage	0×	89.25×	96.5×	62×	122.27×	36.11×	14.24×	13.22×
Dividend yield	2.3%	2.8%	1.9%	2.3%	1.5%	1.3%	1.3%	0.0%
Payout ratio	42.8%	46.6%	31.5%	35.8%	25.1%	64.1%	221.1%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	26.3%	23.2%	24.6%	21.4%	29.6%	22.6%	9.5%	6.4%
Return on invested capital	25.3%	22.4%	23.5%	20.7%	28.0%	17.6%	7.2%	5.5%
Return on assets	19.4%	18.1%	19.0%	16.9%	20.7%	13.5%	6.2%	4.9%
Free cash flow yield	7.1%	4.5%	7.0%	4.9%	1.3%	2.6%	1.1%	0.4%
Earnings yield	5.5%	5.9%	6.2%	6.5%	6.1%	2.0%	0.6%	0.5%
Enterprise value	SEK 5.8B	SEK 4.6B	SEK 4.7B	SEK 3.6B	SEK 4.6B	SEK 8.4B	SEK 10B	SEK 10B
Net debt / EBITDA	-0.72×	-0.48×	-0.71×	-0.44×	-0.13×	-0.26×	1.43×	1.76×
Cash conversion cycle (days)	157	259	180	215	259	72	39	248