SinterCast AB (publ) (SINT.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

+12.3%

SEK 118.47

vs SEK 105.50 price

Levered DCF

SEK 129.34

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

16.44

Safe zone

Rating

A-

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	30.37×	22.06×	17.17×	24.41×	30.34×	39.68×	28.68×	17.01×
P/B	9.81×	7.34×	6.37×	7.22×	8.76×	8.09×	12.38×	5.6×
P/S	6.91×	5.58×	5.38×	6.81×	9.29×	9.23×	11.87×	6.34×
EV / EBITDA	22.49×	15.34×	14.46×	20.81×	29.27×	32.52×	31.09×	16.5×
Gross margin	70.4%	72.5%	73.3%	73.1%	70.9%	71.6%	76.4%	78.6%
Operating margin	27.2%	31.9%	31.8%	25.8%	27.5%	22.7%	34.4%	33.5%
Net margin	22.8%	25.3%	31.3%	27.9%	30.6%	23.3%	41.4%	37.3%
Current ratio	4.7×	3.46×	4×	3.99×	4.35×	4.13×	5.13×	5.86×
Debt / equity	0.01×	0.02×	0.02×	0.03×	0.04×	0.04×	0.03×	0×
Interest coverage	98×	108×	106.75×	76.5×	59×	54.25×	100.25×	294×
Dividend yield	6.6%	5.7%	5.4%	4.4%	2.8%	2.8%	2.6%	3.5%
Payout ratio	200.4%	125.7%	92.6%	107.3%	86.3%	111.7%	73.7%	59.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	32.3%	33.3%	37.1%	29.6%	28.9%	20.4%	43.2%	33.0%
Return on invested capital	28.7%	32.7%	36.6%	26.6%	25.1%	19.1%	35.0%	29.6%
Return on assets	28.5%	27.6%	32.0%	25.4%	25.0%	17.4%	37.8%	29.7%
Free cash flow yield	4.6%	7.6%	5.5%	2.9%	3.0%	2.2%	2.6%	4.0%
Earnings yield	3.3%	4.5%	5.8%	4.1%	3.3%	2.5%	3.5%	5.9%
Enterprise value	SEK 742.2M	SEK 734.8M	SEK 712.8M	SEK 797.1M	SEK 974.8M	SEK 858.5M	SEK 1.4B	SEK 523.1M
Net debt / EBITDA	-0.13×	-0.45×	-0.21×	-0.29×	-0.71×	-0.84×	-0.69×	-1.03×
Cash conversion cycle (days)	183	188	215	267	174	188	134	160