Svedbergs i Dalstorp AB (publ) (SVED-B.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

-64.2%

SEK 19.78

vs SEK 55.20 price

Levered DCF

SEK 168.50

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.95

Grey 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	16.76×	12.75×	9.51×	4.53×	31.04×	15.02×	11.62×	10.02×
P/B	2.25×	1.4×	1.16×	0.91×	6.83×	3.19×	2.7×	2.5×
P/S	1.61×	0.98×	0.62×	0.46×	2.1×	1.12×	0.79×	0.65×
EV / EBITDA	10.6×	7.62×	7.53×	4.47×	19.14×	10.09×	8.26×	7.79×
Gross margin	47.1%	45.6%	43.6%	41.3%	42.2%	42.2%	42.3%	41.7%
Operating margin	14.6%	13.6%	11.5%	12.8%	10.9%	10.2%	9.2%	8.8%
Net margin	9.6%	7.7%	6.5%	9.0%	6.7%	7.4%	6.8%	6.5%
Current ratio	1.84×	1.71×	1.05×	1.99×	0.85×	1.33×	1.44×	1.41×
Debt / equity	0.59×	0.62×	1.17×	0.7×	4.82×	1.08×	1.31×	1.33×
Interest coverage	7.04×	3.64×	4.12×	8.18×	17.83×	14.31×	11.36×	9.76×
Dividend yield	2.2%	2.5%	4.7%	0.0%	1.5%	0.0%	5.5%	11.7%
Payout ratio	36.8%	31.5%	44.5%	0.0%	45.2%	0.0%	63.7%	116.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.5%	11.0%	12.1%	17.7%	22.0%	21.2%	23.2%	25.0%
Return on invested capital	9.1%	8.0%	6.3%	10.0%	3.8%	9.6%	10.0%	10.9%
Return on assets	6.7%	5.4%	4.1%	7.2%	2.5%	7.1%	7.7%	8.0%
Free cash flow yield	10.5%	6.0%	15.0%	23.8%	4.4%	9.2%	7.1%	8.9%
Earnings yield	6.0%	7.8%	10.5%	19.4%	3.2%	6.6%	8.6%	10.0%
Enterprise value	SEK 4.4B	SEK 2.9B	SEK 2.1B	SEK 1.3B	SEK 2.8B	SEK 912.4M	SEK 680.6M	SEK 603.1M
Net debt / EBITDA	1.89×	1.89×	3.4×	1.55×	6.63×	2.08×	2.41×	2.53×
Cash conversion cycle (days)	153	171	179	170	334	166	173	150