Vertiseit AB (publ) (VERT-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

-141.1%

-SEK 26.87

vs SEK 65.40 price

Levered DCF

-SEK 2.16

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.27

Grey zone

Rating

C+

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	337×	29.83×	40.52×	73.11×	237.65×	40.54×	28.21×	60.36×
P/B	2.78×	1.88×	1.77×	2.56×	3.22×	4.34×	4.1×	17.63×
P/S	2.98×	2.64×	1.37×	2.05×	4.5×	2.5×	1.95×	2.16×
EV / EBITDA	28.23×	15.61×	11.64×	26.62×	35.66×	15.43×	12.07×	22.89×
Gross margin	29.0%	46.3%	29.8%	25.4%	26.7%	26.6%	31.5%	20.5%
Operating margin	2.8%	13.1%	8.1%	4.3%	3.6%	8.9%	9.2%	5.2%
Net margin	0.9%	8.9%	3.4%	2.8%	1.9%	6.1%	6.9%	3.6%
Current ratio	0.75×	0.83×	0.53×	1.05×	1.99×	1.42×	1.58×	1.15×
Debt / equity	0.43×	0.43×	0.7×	0.75×	0.6×	0.79×	0.4×	0.99×
Interest coverage	1.21×	6.11×	2.64×	2.92×	3.07×	17.98×	46.76×	42.49×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.2%	0.9%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	34.7%	52.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.8%	6.3%	4.4%	3.5%	1.3%	10.6%	14.6%	29.7%
Return on invested capital	1.8%	5.1%	4.1%	3.0%	1.4%	6.1%	10.0%	14.0%
Return on assets	0.5%	3.6%	2.2%	1.6%	0.7%	4.3%	6.7%	7.8%
Free cash flow yield	0.2%	3.4%	3.4%	0.2%	-3.0%	-0.5%	10.1%	3.3%
Earnings yield	0.3%	3.4%	2.5%	1.4%	0.4%	2.4%	3.6%	1.7%
Enterprise value	SEK 2.3B	SEK 1.5B	SEK 642.8M	SEK 799.6M	SEK 596.8M	SEK 177M	SEK 144.2M	SEK 177.8M
Net debt / EBITDA	3.5×	2.59×	3×	5.13×	0.54×	-1.25×	-1.49×	1×
Cash conversion cycle (days)	45	75	71	91	89	21	19	58