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I-tech

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Financials

SEKm 2025 2026e 2027e
Sales 168,12 197 236,41
Sales growth (%) -6,3 17,2 20
EBITDA 49 61 81
EBITDA margin (%) 29,2 30,8 34,4
EBIT adj. 41 53 78
EBIT adj. margin (%) 24,4 26,8 32,8
Pretax profit 42 56 82
EPS 2,77 3,73 5,42
EPS growth (%) -15,5 34,7 45,3
EPS adj. 3,13 4,12 5,43
Dividend per share 1,25 1,49 2,17
EV/EBITDA (x) 13,3 10 7
EV/EBIT adj. (x) 15,9 11,5 7,3
P/E (x) 24,04 17,85 12,29
P/E adj. (x) 21,3 16,2 12,3
EV/sales (x) 3,87 3,08 2,41
FCF yield (%) 8 5,5 7
Le. adj. FCF yld. (%) 8 5,5 7
Dividend yield (%) 1,9 2,2 3,3
Net IB debt/EBITDA (x) -3 -3,2 -2,8
Le. adj. ND/EBITDA (x) -3 -3,2 -2,8
SEKm 2025 2026e 2027e
Sales 168,12 197 236,41
COGS -72 -81 -97
Gross profit 96 116 139
Other operating items -47 -55 -58
EBITDA 49 61 81
Depreciation and amortisation -4 -3 -4
Depreciation on leased assets 0 0 0
EBITA 45,43 57,43 77,8
Operating EO items 0 0 0
Impairment and amortisation charges -4 -5 0
EBIT 41,04 52,81 77,63
Net financial items 1 3 4
Pretax profit 42 56 82
Tax -9 -12 -17
Net profit 33 45 65
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders 33 45 65
EPS 2,77 3,73 5,42
EPS adj. 3,13 4,12 5,43
Total extraordinary items after tax 0 0 0
Leasing payments 0 0 0
Tax rate (%) 20,7 20,6 20,6
Gross margin (%) 57 58,7 59
EBITDA margin (%) 29,2 30,8 34,4
EBITA margin (%) 27 29,2 32,9
EBIT margin (%) 24,4 26,8 32,8
Pre-tax margin (%) 24,9 28,5 34,6
Net margin (%) 19,7 22,6 27,5
Sales growth (%) -6,3 17,2 20
EBITDA growth (%) -8,7 24 33,8
EBITA growth (%) -8,9 26,4 35,5
EBIT growth (%) -9,8 28,7 47
Net profit growth (%) -14,9 34,4 45,8
EPS growth (%) -15,5 34,7 45,3
Profitability N/A N/A N/A
ROE (%) 20 22,7 26,8
ROE adj. (%) 22,7 25 26,9
ROCE (%) 25,8 29,1 33,8
ROCE adj. (%) 28,4 31,4 33,8
ROIC (%) 86,4 170,4 193,4
ROIC adj. (%) 86,4 170,4 193,4
Year N/A N/A N/A
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 49 61 81
EBITDA adj. margin (%) 29,2 30,8 34,4
EBITDA lease adj. 49 61 81
EBITDA lease adj. margin (%) 29,2 30,8 34,4
EBITA adj. 45 57 78
EBITA adj. margin (%) 27 29,2 32,9
EBIT adj. 41 53 78
EBIT adj. margin (%) 24,4 26,8 32,8
Pretax profit Adj. 46 61 82
Net profit Adj. 38 49 65
Net profit to shareholders adj. 38 49 65
Net adj. margin (%) 22,4 25 27,6
SEKm 2025 2026e 2027e
EBITDA 49 61 81
Goodwill 0 0 0
Net financial items 1 3 4
Other intangible assets 16 9 6
Paid tax 0 -17 -17
Tangible fixed assets 2 2 2
Non-cash items 0 0 0
Right-of-use asset 0 0 0
Cash flow before change in WC 50 47 69
Other Fixed Assets All 0 0 0
Change in working capital 15 -3 -12
Fixed assets 18 11 8
Operating cash flow 65 45 56
Inventories 4 8 8
Capex tangible fixed assets 0 -1 0
Receivables 16 26 33
Capex intangible fixed assets 0 0 0
Other current assets 9 14 14
Acquisitions and Disposals 0 0 0
Cash and liquid assets 148 192 230
Free cash flow 64 44 56
Total assets 194 250 293
Dividend paid -21 0 -18
Shareholders equity 174 219 266
Share issues and buybacks 5 0 0
Minority 0 0 0
Leasing liability amortisation 0 0 0
Total equity 174 219 266
Other changes in net debt 0 0 0
Long-term debt 0 0 0
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 0 0 0
Total other long-term liabilities 0 0 0
Short-term debt 0 0 0
Accounts payable 6 11 13
Other current liabilities 14 20 13
Total liabilities and equity 194 250 293
Net IB debt -148 -192 -230
Net IB debt excl. pension debt -148 -192 -230
Net IB debt excl. leasing -148 -192 -230
Capital employed 174 219 266
Capital invested 26 27 37
Working capital 9 17 29
Market cap. diluted (m) 799 799 799
Net IB debt adj. -148 -192 -230
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 651 607 569
Total assets turnover (%) 91,7 88,9 87,2
Financial risk and debt service N/A N/A N/A
Working capital/sales (%) 12,1 6,5 9,7
Year N/A N/A N/A
Net debt/equity (%) -85 -87,6 -86,2
Net debt / market cap (%) -18,5 -24 -28,7
Equity ratio (%) 90 87,8 91
Net IB debt adj. / equity (%) -85 -87,6 -86,2
Current ratio 9,11 7,83 10,77
EBITDA/net interest 61,2 17,8 42,4
Net IB debt/EBITDA (x) -3 -3,2 -2,8
Net IB debt/EBITDA lease adj. (x) -3 -3,2 -2,8
Interest coverage 50,2 61 N/A
SEKm 2025 2026e 2027e
Shares outstanding adj. 12 12 12
Diluted shares adj. 12 12 12
EPS 2,77 3,73 5,42
Dividend per share 1,25 1,49 2,17
EPS adj. 3,13 4,12 5,43
BVPS 14,53 18,25 22,19
BVPS adj. 13,24 17,54 21,69
Net IB debt/share -12,35 -15,98 -19,13
Share price 66,6 66,6 66,6
Market cap. (m) 799 799 799
P/E (x) 24,04 17,85 12,29
EV/sales (x) 3,87 3,08 2,41
EV/EBITDA (x) 13,3 10 7
EV/EBITA (x) 14,3 10,6 7,3
EV/EBIT (x) 15,9 11,5 7,3
Dividend yield (%) 1,9 2,2 3,3
FCF yield (%) 8 5,5 7
Le. adj. FCF yld. (%) 8 5,5 7
P/BVPS (x) 4,58 3,65 3
P/BVPS adj. (x) 5,03 3,8 3,07
P/E adj. (x) 21,3 16,2 12,3
EV/EBITDA adj. (x) 13,3 10 7
EV/EBITA adj. (x) 14,3 10,6 7,3
EV/EBIT adj. (x) 15,9 11,5 7,3
EV/CE (x) 3,7 2,8 2,1
Investment ratios N/A N/A N/A
Year N/A N/A N/A
Capex/sales (%) -0,2 -0,5 -0,3
Capex/depreciation 0,1 0,3 0,2
Capex tangibles / tangible fixed assets 16,3 35,8 30,6
Capex intangibles / definite intangibles 0,6 2,7 3,9
Depreciation on intang / def. intang 18 31 44
Depreciation on tangibles / tangibles 38,84 36,02 56,79

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.

12,3

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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7,3

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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2,4

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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