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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
-71.0%
SEK 0.03
vs SEK 0.10 price
Levered DCF
SEK 0.00
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-0.42
Distress zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-2.13×26.92×-15×-12.45×-18.83×-25.54×-2.72×-1.16×
P/B3.45×3.73×4.15×7.4×4.75×9.08×0.79×0.28×
P/S24.68×8.46×99.35×133.28×142.2×853.2×115.91×39.72×
EV / EBITDA-8.41×19.23×-14.79×-14.98×-22.04×-34.01×-2.37×-1.29×
Gross margin-302.2%94.3%-197.3%74.1%88.1%99.1%46.2%45.3%
Operating margin-323.0%29.2%-672.1%-1050.5%-749.5%-3301.8%-4080.3%-3197.3%
Net margin-1162.6%31.4%-662.3%-1045.5%-755.2%-3342.0%-4155.5%-3435.4%
Current ratio1.8×2.06×5.23×1.77×8.19×3.13×4.58×1.18×
Debt / equity0.02×0.01×0.02×0.04×0×0.03×0.04×0.07×
Interest coverage-0.92×32.87×-23.95×-395.21×-342.77×-126.05×-89.22×-13.13×
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 equity-162.4%13.8%-27.7%-58.1%-25.2%-35.6%-28.4%-24.5%
Return on invested capital-44.4%12.7%-27.6%-55.9%-25.9%-36.1%-27.9%-22.1%
Return on assets-130.5%12.1%-24.2%-48.8%-23.6%-32.2%-25.6%-20.5%
Free cash flow yield-24.6%-2.1%-7.0%-9.3%-5.2%-3.8%-33.2%-57.4%
Earnings yield-47.1%3.7%-6.7%-7.8%-5.3%-3.9%-35.9%-86.5%
Enterprise valueSEK 708.4MSEK 1.4BSEK 1.2BSEK 1BSEK 957.1MSEK 1.3BSEK 74.7MSEK 30.3M
Net debt / EBITDA0.83×-0.99×2.64×0.35×2.82×0.97×1.63×0.62×
Cash conversion cycle (days)145-520120-992-1,122-39,415-597-694