Sinch AB (publ) (SINCH.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

-84.2%

SEK 6.74

vs SEK 42.61 price

Levered DCF

SEK 12.24

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.27

Distress zone

Rating

B-

Overall 2 / 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	121.04×	-2.73×	751.7×	-6.33×	89.22×	176.32×	56.18×	26.24×
P/B	1.16×	0.6×	0.94×	0.91×	2.37×	10.43×	7.69×	2.79×
P/S	0.97×	0.61×	1.1×	1.13×	4.99×	9.77×	3.05×	1.16×
EV / EBITDA	9.23×	-7.34×	10.61×	-20.65×	47.25×	111.3×	28.35×	12.77×
Gross margin	10.4%	35.1%	8.7%	31.8%	24.3%	27.2%	27.7%	25.3%
Operating margin	4.4%	3.7%	1.7%	-14.5%	10.4%	8.1%	7.4%	5.5%
Net margin	0.8%	-22.3%	0.1%	-17.8%	5.6%	5.6%	5.5%	4.5%
Current ratio	0.78×	0.66×	0.86×	1.28×	0.46×	2.29×	1.52×	1.12×
Debt / equity	0.3×	0.24×	0.07×	0.33×	0.37×	0.15×	0.69×	0.35×
Interest coverage	0.52×	1.9×	0.7×	-9.29×	18.84×	14.52×	10.55×	5.72×
Dividend yield	0.0%	0.0%	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%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.0%	-22.1%	0.1%	-14.4%	2.7%	5.9%	13.7%	10.8%
Return on invested capital	1.6%	2.6%	-0.3%	-7.9%	2.4%	7.1%	7.5%	7.5%
Return on assets	0.5%	-13.4%	0.1%	-8.6%	1.6%	3.8%	5.5%	5.0%
Free cash flow yield	5.5%	13.5%	3.7%	6.0%	0.2%	0.4%	1.8%	5.9%
Earnings yield	0.8%	-36.7%	0.1%	-15.8%	1.1%	0.6%	1.8%	3.9%
Enterprise value	SEK 32.6B	SEK 23.5B	SEK 32.9B	SEK 40.5B	SEK 91.3B	SEK 76.4B	SEK 16.3B	SEK 5B
Net debt / EBITDA	1.8×	-1.88×	0.44×	-4.67×	5.51×	-2.9×	1.61×	1.03×
Cash conversion cycle (days)	42	31	43	41	70	-34	43	34