SolTech Energy Sweden AB (publ) (SOLT.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

-22248.7%

-SEK 11.19

vs SEK 0.05 price

Levered DCF

-SEK 24.26

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-1.22

Distress zone

Rating

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	-0.1×	-0.8×	-6.1×	-3.91×	24.51×	-13.67×	-22.26×	-23.06×
P/B	0.13×	0.3×	0.99×	0.94×	2.22×	4.54×	5.09×	2.61×
P/S	0.04×	0.09×	0.34×	0.55×	2.19×	4.43×	3.88×	6.88×
EV / EBITDA	-2.24×	3.55×	12.03×	-8.6×	6×	42.36×	25.8×	30.8×
Gross margin	-28.3%	35.5%	0.8%	30.9%	46.1%	44.8%	44.6%	74.8%
Operating margin	-27.6%	-6.2%	1.0%	-6.8%	31.3%	0.5%	9.4%	9.8%
Net margin	-34.4%	-11.6%	-5.7%	-14.0%	9.0%	-32.5%	-17.3%	-29.5%
Current ratio	0.83×	1.1×	1.11×	1.47×	2.16×	2.04×	1.4×	1.02×
Debt / equity	1.24×	0.48×	0.24×	0.13×	0.09×	2.09×	4.13×	2.26×
Interest coverage	-10.74×	-4.03×	1.36×	-7.61×	2.46×	0.02×	0.33×	0.22×
Dividend yield	0.0%	3.5%	0.4%	0.1%	0.1%	0.0%	0.3%	0.0%
Payout ratio	0.0%	-2.8%	-2.4%	-0.3%	2.0%	0.0%	-7.2%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-125.8%	-37.2%	-16.3%	-24.2%	9.0%	-33.2%	-22.7%	-11.2%
Return on invested capital	-40.9%	-10.4%	1.7%	-7.4%	21.2%	0.1%	1.9%	0.9%
Return on assets	-33.5%	-13.3%	-6.6%	-11.6%	5.5%	-8.1%	-3.3%	-2.2%
Free cash flow yield	-263.9%	9.1%	-10.0%	-20.8%	-14.1%	-9.6%	-46.2%	-102.5%
Earnings yield	-963.3%	-125.8%	-16.5%	-25.6%	4.1%	-7.3%	-4.5%	-4.3%
Enterprise value	SEK 409.1M	SEK 347.7M	SEK 1B	SEK 935.8M	SEK 1.8B	SEK 2.6B	SEK 1.8B	SEK 643.1M
Net debt / EBITDA	-1.91×	1.29×	0.4×	1.09×	-0.87×	10.87×	10.82×	13.09×
Cash conversion cycle (days)	35	53	64	97	90	51	-90	-1,404