Vuxen Group AB (VUXEN.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

-35.4%

SEK 16.28

vs SEK 25.20 price

Levered DCF

SEK 93.55

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

6.17

Safe 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
P/E	16.59×	69.06×	30.54×	54.07×	37.73×	20.57×	55.41×
P/B	1.84×	1.91×	2.02×	2.79×	5.21×	5.47×	7.45×
P/S	0.79×	0.58×	0.62×	0.84×	1.34×	1.91×	2.41×
EV / EBITDA	7.12×	9.36×	7.23×	13.64×	17.59×	19.49×	34.87×
Gross margin	61.6%	58.2%	38.0%	37.1%	35.6%	40.2%	38.1%
Operating margin	6.5%	2.3%	4.6%	3.6%	4.1%	9.0%	7.0%
Net margin	4.7%	0.8%	2.0%	1.5%	3.5%	9.3%	4.4%
Current ratio	3.3×	2.93×	2.73×	3.07×	2.04×	3.28×	3.71×
Debt / equity	0.07×	0.14×	0.18×	0.23×	0.48×	0.32×	0.17×
Interest coverage	52.79×	4.75×	6.77×	6.14×	9.21×	27.33×	21.11×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.8%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	42.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.1%	2.8%	6.5%	5.1%	13.7%	26.6%	13.5%
Return on invested capital	10.5%	3.0%	5.9%	4.4%	7.1%	16.0%	13.2%
Return on assets	8.4%	1.5%	3.0%	2.4%	5.5%	16.3%	9.9%
Free cash flow yield	10.4%	11.4%	10.4%	-4.7%	-8.3%	-7.7%	1.0%
Earnings yield	6.0%	1.5%	3.2%	1.8%	2.6%	4.9%	1.8%
Enterprise value	SEK 163M	SEK 115M	SEK 121.2M	SEK 168.1M	SEK 209.1M	SEK 271.8M	SEK 262.6M
Net debt / EBITDA	-1.32×	-0.71×	-0.32×	0.37×	0.77×	0.02×	-1.18×
Cash conversion cycle (days)	95	111	85	86	70	65	69