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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
-59614.5%
-SEK 12.26
vs SEK 0.02 price
Levered DCF
-SEK 13.64
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-11.71
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-3.07×-3.23×-0.61×-0.36×-10.6×-6.59×-1.14×-14.55×
P/B-1.02×-0.87×-0.16×-0.13×-6.18×-5.89×-1.34×21.02×
P/S2.69×2.28×0.57×0.67×18.96×18.94×5.19×24.97×
EV / EBITDA-19.16×-14.31×-6.44×-5.22×-29.81×-11.28×-3.41×-3.67×
Gross margin-49.9%21.1%-95.5%128.8%130.2%118.1%124.5%130.4%
Operating margin-49.9%-66.5%-117.7%-194.6%-177.5%-182.0%-297.1%-168.1%
Net margin-85.1%-77.9%-95.8%-186.9%-178.7%-287.3%-455.2%-171.6%
Current ratio0.1×0.9×0.77×0.92×2.74×0.32×0.14×0.6×
Debt / equity-1.22×-1.2×-1.14×-1.13×-1.99×-1.08×-1.17×0.49×
Interest coverage-2.79×-3.76×-4.65×-2.81×-2.46×-2.63×-3.48×-1.04×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%8.5%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%-9.7%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity32.1%29.6%26.3%36.5%58.2%89.4%117.5%-144.5%
Return on invested capital-83.8%-128.9%-238.5%-294.4%-58.3%-727.1%-448.6%-22.9%
Return on assets-86.6%-76.6%-73.0%-96.3%-41.2%-200.7%-297.1%-63.2%
Free cash flow yield-24.4%-34.0%-221.6%-303.7%-17.8%-8.5%-61.5%-6.5%
Earnings yield-31.6%-34.1%-167.1%-280.4%-9.4%-15.2%-87.6%-6.9%
Enterprise valueSEK 494.1MSEK 438.5MSEK 270MSEK 276.1MSEK 862.5MSEK 1.2BSEK 473.7MSEK 409.7M
Net debt / EBITDA-10.17×-8.04×-5.61×-4.65×-4.34×-1.58×-1.57×-0.08×
Cash conversion cycle (days)47461036105001302442,022