Wise Group AB (publ) (WISE.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

+250.0%

SEK 36.92

vs SEK 10.55 price

Levered DCF

SEK 12.68

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.58

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	-6.18×	-6.56×	-12.92×	14.21×	7.18×	-98.28×	-350×	10.25×
P/B	1.79×	1.83×	2.41×	2.05×	2.1×	2.1×	2.52×	2.81×
P/S	0.2×	0.2×	0.26×	0.3×	0.4×	0.31×	0.28×	0.39×
EV / EBITDA	37.23×	19.93×	23.69×	3.96×	2.78×	7.76×	6.94×	5.7×
Gross margin	37.2%	41.9%	39.3%	45.4%	45.8%	39.9%	37.3%	38.2%
Operating margin	-2.8%	-2.7%	-2.3%	3.2%	5.1%	2.7%	0.4%	5.1%
Net margin	-3.2%	-3.0%	-2.0%	2.1%	5.6%	-0.3%	-0.1%	3.8%
Current ratio	0.98×	1.08×	1.1×	1.31×	1.4×	0.84×	0.79×	1.07×
Debt / equity	0.9×	0.89×	0.82×	0.79×	0.67×	1.22×	0.31×	0.14×
Interest coverage	-5.94×	-5.63×	-6.47×	8.09×	9.52×	8.59×	1.51×	49.97×
Dividend yield	0.0%	0.0%	14.1%	10.9%	0.0%	0.0%	10.0%	6.3%
Payout ratio	0.0%	0.0%	-182.6%	154.4%	0.0%	0.0%	-3467.6%	64.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-29.0%	-28.0%	-18.6%	14.4%	29.2%	-2.2%	-0.7%	27.4%
Return on invested capital	-13.4%	-13.1%	-9.8%	8.7%	13.4%	7.8%	-1.3%	29.2%
Return on assets	-8.2%	-8.1%	-5.3%	4.7%	10.2%	-0.5%	-0.2%	9.8%
Free cash flow yield	-1.4%	2.5%	-0.0%	18.2%	6.6%	19.4%	12.2%	12.7%
Earnings yield	-16.2%	-15.2%	-7.7%	7.0%	13.9%	-1.0%	-0.3%	9.7%
Enterprise value	SEK 118.5M	SEK 150M	SEK 226.8M	SEK 272.7M	SEK 278.1M	SEK 291.6M	SEK 284.5M	SEK 348.9M
Net debt / EBITDA	7.98×	3.24×	1.85×	0.01×	-0.19×	2.15×	0.63×	-0.22×
Cash conversion cycle (days)	-56	-1	8	14	12	38	29	-67