Fortnox AB
STO:FNOX

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Fortnox AB
STO:FNOX
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Price: 89.4 SEK 1.52%
Market Cap: kr54.5B

EV/EBIT

57.3
Current
No historical data
Comparison unavailable

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
57.3
=
Enterprise Value
kr53.8B
/
EBIT
kr938m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
57.3
=
Enterprise Value
kr53.8B
/
EBIT
kr938m

Valuation Scenarios

Fortnox AB is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (57.3), the stock would be worth kr89.4 (0% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-69%
Maximum Upside
No Upside Scenarios
Average Downside
34%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 57.3 kr89.4
0%
3-Year Average 57.3 kr89.4
0%
5-Year Average 57.3 kr89.4
0%
Industry Average 19.3 kr30.11
-66%
Country Average 17.8 kr27.76
-69%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
kr53.8B
/
Apr 2025
kr938m
=
57.3
Current
kr53.8B
/
Dec 2025
kr1.1B
=
47
Forward
kr53.8B
/
Dec 2026
kr1.5B
=
36.9
Forward
kr53.8B
/
Dec 2027
kr1.8B
=
30.5
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
SE
Fortnox AB
STO:FNOX
54.5B SEK 57.3 70.7
US
Ezenia! Inc
OTC:EZEN
567B USD -177 298 -180 630.8
US
Palantir Technologies Inc
NASDAQ:PLTR
363.8B USD 251.8 223.3
DE
SAP SE
XETRA:SAP
174.8B EUR 15.9 23
US
Salesforce Inc
NYSE:CRM
177.8B USD 20 23.8
US
Applovin Corp
NASDAQ:APP
163.6B USD 39.7 49.1
US
Intuit Inc
NASDAQ:INTU
113.4B USD 21.1 26.1
US
Adobe Inc
NASDAQ:ADBE
103.9B USD 11.3 14.4
US
NCR Corp
LSE:0K45
93B USD 647.4 2 214.5
US
Synopsys Inc
NASDAQ:SNPS
91.4B USD 100.8 83
US
Cadence Design Systems Inc
NASDAQ:CDNS
90.1B USD 54 81.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
SE
Fortnox AB
STO:FNOX
Average EV/EBIT: 121.9
57.3
26%
2.2
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -177 298 N/A N/A
US
Palantir Technologies Inc
NASDAQ:PLTR
251.8
82%
3.1
DE
SAP SE
XETRA:SAP
15.9
15%
1.1
US
Salesforce Inc
NYSE:CRM
20
29%
0.7
US
Applovin Corp
NASDAQ:APP
39.7
37%
1.1
US
Intuit Inc
NASDAQ:INTU
21.1
31%
0.7
US
Adobe Inc
NASDAQ:ADBE
11.3
17%
0.7
US
N
NCR Corp
LSE:0K45
647.4
23%
28.1
US
Synopsys Inc
NASDAQ:SNPS
100.8
79%
1.3
US
Cadence Design Systems Inc
NASDAQ:CDNS
54
28%
1.9
P/E Multiple
Earnings Growth PEG
SE
Fortnox AB
STO:FNOX
Average P/E: 280.9
70.7
26%
2.7
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -180 630.8 N/A N/A
US
Palantir Technologies Inc
NASDAQ:PLTR
223.3
58%
3.9
DE
SAP SE
XETRA:SAP
23
17%
1.4
US
Salesforce Inc
NYSE:CRM
23.8
29%
0.8
US
Applovin Corp
NASDAQ:APP
49.1
38%
1.3
US
Intuit Inc
NASDAQ:INTU
26.1
30%
0.9
US
Adobe Inc
NASDAQ:ADBE
14.4
20%
0.7
US
N
NCR Corp
LSE:0K45
2 214.5
52%
42.6
US
Synopsys Inc
NASDAQ:SNPS
83
44%
1.9
US
Cadence Design Systems Inc
NASDAQ:CDNS
81.3
39%
2.1

Market Distribution

Higher than 92% of companies in Sweden
Percentile
92nd
Based on 1 191 companies
92nd percentile
57.3
Low
0.2 — 14
Typical Range
14 — 23.3
High
23.3 —
Distribution Statistics
Sweden
Min 0.2
30th Percentile 14
Median 17.8
70th Percentile 23.3
Max 4 325.3

Fortnox AB
Glance View

Market Cap
54.5B SEK
Industry
Technology

Fortnox AB, nestled in the heart of Sweden, has carved a remarkable niche in the realm of cloud-based solutions, catering predominantly to small and medium-sized enterprises (SMEs). Born out of the necessity to simplify and streamline cumbersome business processes, Fortnox offers a spectrum of software services that facilitate accounting, invoicing, payroll, and much more. At its core, the company operates on a subscription-based model, which not only ensures a steady stream of recurring revenue but also allows its customers to customize their usage based on unique business needs. This adaptability and the convenience of cloud services provide Fortnox’s clients with the freedom to manage their business affairs with unparalleled ease and efficiency, from anywhere at any time. Emphasizing integration and user-friendliness, Fortnox thrives on the principle of connectivity—partnering seamlessly with various banks and financial institutions. This interconnectedness enhances the company’s appeal as it transforms financial data management into a more streamlined, automated process, fostering greater agility for its customers. By continuously evolving its product offerings and incorporating cutting-edge technological advancements, Fortnox ensures it remains at the forefront of innovation within the crowded financial technology sector. As businesses increasingly migrate to digital platforms, Fortnox cleverly positions itself as more than just a service provider; it becomes an indispensable partner in the digital transformation journey, effectively creating an ecosystem that encourages growth and innovation for SMEs across Sweden and beyond.

FNOX Intrinsic Value
34.79 SEK
Overvaluation 61%
Intrinsic Value
Price kr89.4
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