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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
-180.1%
-SEK 0.09
vs SEK 0.11 price
Levered DCF
-SEK 0.12
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-0.04
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.35×-0.77×-1.41×-1.57×-3.08×-4.3×-2.27×-4.44×
P/B-76.69×4.7×2.01×1.62×4.84×2.32×1.75×2.67×
P/S22.32×9.18×11.81×9.16×14.36×50.74×35.11×139.28×
EV / EBITDA-7.06×-1.34×-2.17×-1.97×-3.64×-4.71×-2.7×-5.59×
Gross margin-1940.7%42.1%46.1%-18.2%-33.7%-126.9%-79.7%-38.9%
Operating margin-1940.7%-1201.2%-841.4%-604.3%-471.4%-1093.9%-1412.9%-2975.9%
Net margin-1660.1%-1197.4%-856.8%-598.6%-462.0%-1182.1%-1544.1%-3146.6%
Current ratio0.66×0.19×0.64×0.31×0.64×4.06×1.48×2.72×
Debt / equity-186.55×0.36×0.1×0.09×0.17×0.08×0.13×0.14×
Interest coverage-71.07×-9.91×-9.18×-22.23×-46.96×-12.86×-10.34×-17.2×
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 equity5704.5%-613.5%-145.6%-106.0%-155.6%-54.0%-76.9%-60.3%
Return on invested capital-22.5%-22.2%-20.8%-14.4%-141.0%-46.0%-66.1%-52.4%
Return on assets-18.1%-22.0%-21.4%-13.2%-97.1%-44.9%-51.6%-48.1%
Free cash flow yield-45.1%-70.2%-73.8%-108.5%-20.9%-18.0%-28.9%-21.1%
Earnings yield-74.4%-130.5%-72.5%-65.3%-32.2%-23.3%-44.0%-22.6%
Enterprise valueSEK 122.3MSEK 26.6MSEK 48.4MSEK 35.5MSEK 90.3MSEK 97.4MSEK 58MSEK 107.4M
Net debt / EBITDA-4.98×-0×0.13×0.1×-0.09×0.61×0.15×-0.07×
Cash conversion cycle (days)3,146-224671841436421,3863,251