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INVISIO

INVISIO

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Financials

SEKm 2025 2026e 2027e
Sales 1690 2112 2450
Sales growth (%) -6,5 25 16
EBITDA 344 548 659
EBITDA margin (%) 20,3 25,9 26,9
EBIT adj. 273 476 584
EBIT adj. margin (%) 16,2 22,5 23,8
Pretax profit 264 478 586
EPS 4,02 7,34 9,01
EPS growth (%) -40,2 82,6 22,8
EPS adj. 4,24 7,58 9,27
DPS 2,76 3,31 3,97
EV/EBITDA (x) 45,2 28,2 23,2
EV/EBIT adj. (x) 56,8 32,5 26,2
P/E (x) 83,5 45,7 37,2
P/E adj. (x) 79,1 44,2 36,2
EV/sales (x) 9,19 7,31 6,25
FCF yield (%) 1,2 1,6 2,2
Le. adj. FCF yld. (%) 1,5 1,5 2,1
Dividend yield (%) 0,8 1 1,2
Net IB debt/EBITDA (x) -0,5 -0,5 -0,6
Le. adj. ND/EBITDA (x) -0,9 -0,7 -0,8
SEKm 2025 2026e 2027e
Sales 1690 2112 2450
COGS -710 -824 -931
Gross profit 980 1289 1519
Other operating items -637 -741 -861
EBITDA 344 548 659
Depreciation and amortisation -55 -56 -57
of which leasing depreciation -14 -14 -14
EBITA 288 492 601
EO Items 0 0 0
Impairment and PPA amortisation -15 -16 -17
EBIT 273 476 584
Net financial items -9 2 2
Pretax profit 264 478 586
Tax -76 -134 -164
Net profit 188 344 422
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders 188 344 422
EPS 4,02 7,34 9,01
EPS adj. 4,24 7,58 9,27
Total extraordinary items after tax 0 0 0
Leasing payments -14 -14 -14
Tax rate (%) 28,7 28 28
Gross margin (%) 58 61 62
EBITDA margin (%) 20,3 25,9 26,9
EBITA margin (%) 17 23,3 24,5
EBIT margin (%) 16,2 22,5 23,8
Pre-tax margin (%) 15,6 22,6 23,9
Net margin (%) 11,1 16,3 17,2
Sales growth (%) -6,5 25 16
EBITDA growth (%) -25,9 59,5 20,2
EBITA growth (%) -30,7 70,6 22,3
EBIT growth (%) -32 74 22,9
Net profit growth (%) -38,5 82,6 22,8
EPS growth (%) -40,2 82,6 22,8
Profitability N/A N/A N/A
ROE (%) 17,6 28,2 28,9
ROE adj. (%) 19 29,5 30
ROCE (%) 24 36,4 37,7
ROCE adj. (%) 25,3 37,4 38,6
ROIC (%) 23,8 35,7 38,6
ROIC adj. (%) 23,8 35,7 38,6
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 344 548 659
EBITDA adj. margin (%) 20,3 25,9 26,9
EBITDA lease adj. 330 534 645
EBITDA lease adj. margin (%) 19,5 25,3 26,3
EBITA adj. 288 492 601
EBITA adj. margin (%) 17 23,3 24,5
EBIT adj. 273 476 584
EBIT adj. margin (%) 16,2 22,5 23,8
Pretax profit Adj. 279 494 603
Net profit Adj. 203 360 439
Net profit to shareholders adj. 203 360 439
Net adj. margin (%) 12 17 17,9
SEKm 2025 2026e 2027e
EBITDA 344 548 659
Goodwill 101 101 101
Net financial items -9 2 2
Other intangible assets 293 321 359
Paid tax -76 -134 -164
Tangible fixed assets 126 145 170
Non-cash items 0 0 0
Right-of-use asset 30 30 30
Cash flow before change in WC 258 416 497
Total other fixed assets 20 22 24
Change in working capital 84 -84 -68
Fixed assets 571 620 684
Operating cash flow 342 332 429
Inventories 304 380 441
Capex tangible fixed assets -2 -2 -2
Receivables 414 499 566
Capex intangible fixed assets -118 -74 -86
Other current assets 0 0 0
Acquisitions and Disposals -39 0 0
Cash and liquid assets 264 346 484
Free cash flow 184 256 341
Total assets 1553 1845 2175
Dividend paid -106 -127 -153
Shareholders equity 1111 1327 1597
Share issues and buybacks 0 0 0
Minority 0 0 0
Leasing liability amortisation 46 -14 -14
Total equity 1111 1327 1597
Other non-cash items -161 -30 -34
Long-term debt 0 0 0
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 97 97 97
Total other long-term liabilities 41 41 41
Short-term debt 0 0 0
Accounts payable 101 127 147
Other current liabilities 203 253 294
Total liabilities and equity 1553 1845 2175
Net IB debt -186 -271 -411
Net IB debt excl. pension debt -186 -271 -411
Net IB debt excl. leasing -283 -368 -508
Capital employed 1208 1424 1693
Capital invested 924 1056 1186
Working capital 414 499 566
Market cap. diluted (m) 15721 15721 15721
Net IB debt adj. -186 -271 -411
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 15534 15450 15310
Total assets turnover (%) 113,5 124,3 121,9
Working capital/sales (%) 27 21,6 21,7
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -16,8 -20,4 -25,7
Net debt / market cap (%) -1,2 -1,8 -2,7
Equity ratio (%) 71,5 71,9 73,4
Net IB debt adj. / equity (%) -16,8 -20,4 -25,7
Current ratio 3,23 3,22 3,38
EBITDA/net interest 36,5 274 329,4
Net IB debt/EBITDA (x) -0,5 -0,5 -0,6
Net IB debt/EBITDA lease adj. (x) -0,9 -0,7 -0,8
Interest coverage 30,7 245,8 300,7
SEKm 2025 2026e 2027e
Shares outstanding adj. 46 46 46
Diluted shares adj. 47 47 47
EPS 4,02 7,34 9,01
Dividend per share 2,76 3,31 3,97
EPS adj. 4,24 7,58 9,27
BVPS 23,71 28,33 34,07
BVPS adj. 15,28 19,31 24,25
Net IB debt/share -3,98 -5,79 -8,77
Share price 335,5 335,5 335,5
Market cap. (m) 15493 15493 15493
P/E (x) 83,5 45,7 37,2
EV/sales (x) 9,2 7,3 6,2
EV/EBITDA (x) 45,2 28,2 23,2
EV/EBITA (x) 53,9 31,4 25,5
EV/EBIT (x) 56,8 32,5 26,2
Dividend yield (%) 0,8 1 1,2
FCF yield (%) 1,2 1,6 2,2
Le. adj. FCF yld. (%) 1,5 1,5 2,1
P/BVPS (x) 14,15 11,84 9,85
P/BVPS adj. (x) 21,63 17,13 13,64
P/E adj. (x) 79,1 44,2 36,2
EV/EBITDA adj. (x) 45,2 28,2 23,2
EV/EBITA adj. (x) 53,9 31,4 25,5
EV/EBIT adj. (x) 56,8 32,5 26,2
EV/CE (x) 12,9 10,8 9
Investment ratios N/A N/A N/A
Capex/sales (%) 7,1 3,6 3,6
Capex/depreciation 2,9 1,8 2
Capex tangibles / tangible fixed assets 1,3 1,5 1,4
Capex intangibles / definite intangibles 40,3 23 23,9
Depreciation on intang / def. intang 14,2 13,3 12,1
Depreciation on tangibles / tangibles 0 0 0

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.

37,2

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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25,7

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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6,1

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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9,7