Vimian Group AB (publ) (VIMIAN.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

-61.7%

SEK 15.74

vs SEK 41.10 price

Levered DCF

SEK 41.28

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.7

Safe zone

Rating

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	46.54×	94.19×	118.23×	-131.39×	371.59×	55.44×	-2,320.53×	-3,842.87×
P/B	2.1×	2.49×	2.21×	1.97×	7.28×	13.05×	70.62×	156.1×
P/S	3.45×	4.65×	3.51×	3.37×	15×	21.23×	117.79×	369.1×
EV / EBITDA	15.78×	23.07×	19.12×	28.74×	75.38×	45.74×	712.92×	-36,096.33×
Gross margin	68.9%	68.9%	69.2%	69.0%	70.9%	69.3%	62.9%	56.8%
Operating margin	17.3%	13.1%	12.4%	14.0%	12.5%	54.3%	5.1%	-13.2%
Net margin	7.4%	4.9%	3.0%	-2.6%	3.8%	38.3%	-5.0%	-9.7%
Current ratio	1.95×	2.03×	2.12×	1.24×	1.81×	1.22×	0.95×	1.26×
Debt / equity	0.34×	0.33×	0.6×	0.46×	0.5×	0.38×	0.38×	0.35×
Interest coverage	3.49×	1.94×	2.14×	3.56×	3.22×	10.43×	3.16×	-5.01×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.5%	2.6%	1.9%	-1.5%	1.8%	23.6%	-3.0%	-4.1%
Return on invested capital	5.2%	3.3%	2.5%	-40.2%	2.3%	16.8%	1.7%	-3.1%
Return on assets	2.8%	1.7%	1.0%	-0.8%	1.0%	11.6%	-1.2%	-2.4%
Free cash flow yield	6.2%	2.5%	-3.7%	1.6%	0.2%	-0.0%	0.0%	-0.1%
Earnings yield	2.1%	1.1%	0.8%	-0.8%	0.3%	1.8%	-0.0%	-0.0%
Enterprise value	SEK 1.7B	SEK 1.9B	SEK 1.4B	SEK 1.1B	SEK 2.7B	SEK 3B	SEK 2.9B	SEK 3B
Net debt / EBITDA	1.75×	2.04×	3.67×	4.56×	3.46×	0.86×	0.84×	-62.61×
Cash conversion cycle (days)	232	252	195	308	223	193	177	160