Premium Snacks Nordic AB (publ) (SNX.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

-73.0%

SEK 8.05

vs SEK 29.80 price

Levered DCF

-SEK 4.65

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.17

Safe zone

Rating

B+

Overall 3 / 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	21.41×	23.2×	115.81×	-11.45×	64.71×	31.36×	96.34×	-21×
P/B	6.3×	3.37×	1.87×	1.62×	2.21×	1.44×	1.73×	2.08×
P/S	0.96×	0.51×	0.3×	0.29×	0.45×	0.29×	0.32×	1.02×
EV / EBITDA	12.46×	9.16×	8.69×	28.02×	10.42×	7×	11.23×	-21.67×
Gross margin	5.9%	41.5%	40.4%	39.1%	42.9%	39.1%	38.0%	48.1%
Operating margin	5.9%	3.6%	1.3%	-2.3%	2.0%	2.5%	1.6%	-6.1%
Net margin	4.4%	2.2%	0.3%	-2.5%	0.7%	0.9%	0.3%	-5.6%
Current ratio	1.17×	0.94×	0.84×	0.85×	1.01×	1.09×	0.84×	2.51×
Debt / equity	0.53×	0.56×	0.94×	0.76×	0.48×	0.87×	0.63×	0.52×
Interest coverage	13.21×	6.35×	1.63×	-4.41×	2.35×	2.55×	1.61×	-16.78×
Dividend yield	0.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	10.9%	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	29.1%	14.5%	1.6%	-14.1%	3.5%	4.6%	1.8%	-11.4%
Return on invested capital	19.0%	10.7%	2.2%	-6.5%	4.1%	4.0%	2.9%	-7.1%
Return on assets	11.4%	5.8%	0.6%	-5.6%	1.6%	1.7%	0.7%	-6.1%
Free cash flow yield	-0.2%	6.4%	2.6%	-14.4%	-1.1%	16.7%	-6.5%	-11.6%
Earnings yield	4.6%	4.3%	0.9%	-8.7%	1.6%	3.2%	1.0%	-5.5%
Enterprise value	SEK 580.6M	SEK 268.4M	SEK 165.6M	SEK 136.8M	SEK 175.2M	SEK 119.4M	SEK 136.8M	SEK 39.8M
Net debt / EBITDA	0.89×	1.29×	2.88×	8.76×	1.75×	1.64×	2.64×	3.53×
Cash conversion cycle (days)	40	22	28	28	15	13	30	24