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I-tech

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Financials

SEKm 2024 2025e 2026e
Sales 179 218 261
Sales growth (%) 48,5 21,4 19,9
EBITDA 54 73 98
EBITDA margin (%) 29,9 33,7 37,6
EBIT adj. 52 71 90
EBIT adj. margin (%) 29 32,5 34,5
Pretax profit 49 69 95
EPS 3,28 4,64 6,31
EPS growth (%) 92,9 41,4 36,1
EPS adj. 4,08 5,47 6,7
DPS 1,75 1,84 2,52
EV/EBITDA (x) 19,9 13,9 9,9
EV/EBIT adj. (x) 20,5 14,5 10,8
P/E (x) 29,9 21,1 15,5
P/E adj. (x) 24 17,9 14,6
EV/sales (x) 5,95 4,7 3,71
FCF yield (%) 3 5,4 6,7
Le. adj. FCF yld. (%) 3 5,4 6,7
Dividend yield (%) 1,8 1,9 2,6
Net IB debt/EBITDA (x) -1,9 -1,9 -2
Le. adj. ND/EBITDA (x) -1,7 -1,8 -2
SEKm 2024 2025e 2026e
Sales 179 218 261
COGS -84 -96 -115
Gross profit 95 122 146
Other operating items -42 -49 -48
EBITDA 54 73 98
Depreciation and amortisation -4 -4 -4
of which leasing depreciation 0 0 0
EBITA 50 70 95
EO Items -7 -5 0
Impairment and PPA amortisation -4 -4 -5
EBIT 45 65 90
Net financial items 4 4 5
Pretax profit 49 69 95
Tax -10 -14 -19
Net profit 39 55 75
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders 39 55 75
EPS 3,28 4,64 6,31
EPS adj. 4,08 5,47 6,7
Total extraordinary items after tax -5 -5 0
Leasing payments 0 0 0
Tax rate (%) 20,7 20,6 20,6
Gross margin (%) 53,1 56 56
EBITDA margin (%) 29,9 33,7 37,6
EBITA margin (%) 27,8 32,1 36,3
EBIT margin (%) 25,3 30 34,5
Pre-tax margin (%) 27,4 31,7 36,2
Net margin (%) 21,7 25,2 28,8
Sales growth (%) 48,5 21,4 19,9
EBITDA growth (%) 71,2 36,8 33,7
EBITA growth (%) 79,6 40 35,7
EBIT growth (%) 94,5 43,9 37,6
Net profit growth (%) 93,1 40,4 37,1
EPS growth (%) 92,9 41,4 36,1
Profitability N/A N/A N/A
ROE (%) 26,6 31,4 34,5
ROE adj. (%) 33,1 37 36,6
ROCE (%) 33,5 39,6 43,4
ROCE adj. (%) 40,9 45,2 45,6
ROIC (%) 71,8 104,1 156,9
ROIC adj. (%) 81,2 112,1 156,9
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 45 57 73
EBITA adj. 56 75 95
EBITDA adj. margin (%) 31 32,9 34,5
EBITA adj. margin (%) 31,4 34,5 36,3
EBITDA lease adj. 45 57 73
EBIT adj. 52 71 90
EBITDA lease adj. margin (%) 31 32,9 34,5
EBIT adj. margin (%) 29 32,5 34,5
Pretax profit Adj. 39 51 66
Net profit Adj. 31 40 53
Net profit to shareholders adj. 31 40 53
Net adj. margin (%) 21,5 23,2 25,1
SEKm 2024 2025e 2026e
EBITDA 54 73 98
Goodwill 0 0 0
Net financial items 4 4 5
Other intangible assets 23 15 9
Paid tax 0 -11 -19
Tangible fixed assets 2 2 3
Non-cash items 0 0 0
Right-of-use asset 0 0 0
Cash flow before change in WC 58 66 83
Total other fixed assets 0 0 0
Change in working capital -22 -3 -3
Fixed assets 25 17 11
Operating cash flow 35 63 80
Inventories 4 6 8
Capex tangible fixed assets 0 0 -1
Receivables 27 33 39
Capex intangible fixed assets 0 0 -1
Other current assets 17 15 18
Acquisitions and Disposals 0 0 0
Cash and liquid assets 100 142 198
Free cash flow 35 63 78
Total assets 173 213 275
Dividend paid -18 -21 -22
Shareholders equity 157 191 245
Share issues and buybacks 0 0 0
Minority 0 0 0
Leasing liability amortisation 0 0 0
Total equity 157 191 245
Other non-cash items 0 0 0
Long-term debt 0 0 0
Pension debt 0 0 0
Convertible debt N/A N/A N/A
Leasing liability 0 0 0
Total other long-term liabilities 0 0 0
Short-term debt 0 0 0
Accounts payable 8 11 16
Other current liabilities 8 11 14
Total liabilities and equity 173 213 275
Net IB debt -100 -142 -198
Net IB debt excl. pension debt -100 -142 -198
Net IB debt excl. leasing -100 -142 -198
Capital employed 157 191 245
Capital invested 57 49 47
Working capital 32 32 35
Market cap. diluted (m) 1167 1167 1167
Net IB debt adj. -100 -142 -198
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
EV 1067 1025 969
Reversal of conv. debt assumed equity N/A N/A N/A
Total assets turnover (%) 110,2 112,8 107,1
Working capital/sales (%) 11,9 14,7 12,8
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -63,6 -74,2 -80,9
Net debt / market cap (%) -8,6 -12,2 -17
Equity ratio (%) 90,9 89,8 89,1
Net IB debt adj. / equity (%) -63,6 -74,2 -80,9
Current ratio 9,41 8,98 8,77
EBITDA/net interest 24 42,7 64,4
Net IB debt/EBITDA (x) -1,9 -1,9 -2
Net IB debt/EBITDA lease adj. (x) -1,7 -1,8 -2
Interest coverage 1372,7 40351,1 N/A
SEKm 2024 2025e 2026e
Shares outstanding adj. 12 12 12
Diluted shares adj. 12 12 12
EPS 3,28 4,64 6,31
Dividend per share 1,75 1,84 2,52
EPS adj. 4,08 5,47 6,7
BVPS 13,22 16,07 20,54
BVPS adj. 11,31 14,77 19,8
Net IB debt/share -8,41 -11,93 -16,62
Share price 98 98 98
Market cap. (m) 1167 1167 1167
P/E (x) 29,9 21,1 15,5
EV/sales (x) 5,95 4,7 3,71
EV/EBITDA (x) 19,9 13,9 9,9
EV/EBITA (x) 21,4 14,7 10,2
EV/EBIT (x) 23,5 15,7 10,8
Dividend yield (%) 1,8 1,9 2,6
FCF yield (%) 3 5,4 6,7
Le. adj. FCF yld. (%) 3 5,4 6,7
P/BVPS (x) 7,41 6,1 4,77
P/BVPS adj. (x) 8,67 6,63 4,95
P/E adj. (x) 24 17,9 14,6
EV/EBITDA adj. (x) 9,1 6,6 4,7
EV/EBITA adj. (x) 18,9 13,6 10,2
EV/EBIT adj. (x) 20,5 14,5 10,8
EV/CE (x) 6,8 5,4 4
Investment ratios N/A N/A N/A
Capex/sales (%) 0,2 0,2 0,8
Capex/depreciation 0,1 0,1 0,6
Capex tangibles / tangible fixed assets 33,4 25 32,9
Capex intangibles / definite intangibles 5,4 7,5 11,5
Depreciation on intang / def. intang 29 39 57
Depreciation on tangibles / tangibles 26,28 33,91 41,75

Key Figure Counter

It is not always easy to generate comparative valuations. Therefore, in order to make it easier for you as an investor, we have created this key figure calculator. Enter share price in the field below and then select the year in which you want to retrieve the financial data.

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P/E

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A common valuation multiple, the share price is divided by earnings per share.

P/E ratio stands for Price and Earnings. By dividing a company's market cap to its earnings, investors get a key ratio which they are able to compare between different companies. The ratio can either be calculated on historical or forward-looking numbers. 

It is important to notice that earnings are calculated after taxes, which mean that they can vary between companies due to different accounting standards.

15,5

EV/EBIT

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EV stands for Enterprise Value and is calculated as a company's markets cap in addition to its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. 

EBIT is the Earnings Before Interest and Taxes which is the operating income. This result, in comparison to the P/E ratio, is not affected by any financial items.

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10,9

EV/Sales

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EV stands for Enterprise Value and is calculated as a company's market cap adjusted for its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. S is the company's total sales.

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3,7

P/BVPS

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P/B stands for Price to Book, which is used to compare a share's market cap to its book value. A P/B ratio that is below one is considered to be valued below its assets.

Companies with high return on equity are usually associated with high P/B ratios, and vice versa. 

 

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4,8