Studsvik AB (publ) (SVIK.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

-40.3%

SEK 117.06

vs SEK 196.00 price

Levered DCF

SEK 155.82

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.1

Grey 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	59.03×	100.51×	21.9×	18.97×	13.55×	20.42×	-9.33×	35.47×
P/B	5.69×	2.4×	2.73×	2.08×	2.21×	2.29×	0.86×	0.98×
P/S	2.49×	1.08×	1.29×	1.11×	1.07×	0.99×	0.4×	0.43×
EV / EBITDA	27.82×	15.86×	11.67×	8.92×	7.11×	9.99×	23.26×	7.71×
Gross margin	24.1%	22.2%	25.4%	25.1%	25.9%	27.0%	24.0%	27.1%
Operating margin	5.2%	3.0%	8.9%	9.2%	10.7%	6.4%	0.2%	4.6%
Net margin	4.2%	1.1%	5.9%	5.9%	7.9%	4.9%	-4.3%	1.2%
Current ratio	0.87×	0.84×	0.96×	1.31×	1.2×	1.05×	0.94×	1×
Debt / equity	0.3×	0.47×	0.41×	0.23×	0.16×	0.32×	0.47×	0.63×
Interest coverage	2.35×	1.44×	5.4×	13.05×	10.24×	8.35×	0.07×	1.83×
Dividend yield	0.7%	1.7%	1.5%	1.8%	1.0%	0.0%	0.0%	0.0%
Payout ratio	44.0%	171.2%	33.8%	34.3%	13.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.6%	2.4%	12.5%	11.0%	16.3%	11.2%	-9.3%	2.8%
Return on invested capital	4.7%	1.9%	8.1%	7.7%	10.3%	7.1%	0.2%	2.3%
Return on assets	3.7%	0.9%	4.8%	4.7%	6.7%	4.6%	-3.5%	1.0%
Free cash flow yield	4.2%	-4.7%	3.8%	-2.7%	6.4%	8.4%	-17.7%	15.6%
Earnings yield	1.7%	1.0%	4.6%	5.3%	7.4%	4.9%	-10.7%	2.8%
Enterprise value	SEK 2.3B	SEK 1.1B	SEK 1.1B	SEK 888.5M	SEK 811.5M	SEK 743.1M	SEK 363.2M	SEK 353.3M
Net debt / EBITDA	0.8×	1.91×	0.75×	-0.19×	-0.39×	0.33×	6.52×	0.97×
Cash conversion cycle (days)	-62	89	77	76	58	-32	-19	-14