Initiator Pharma Ratios and Metrics

Market cap in millions SEK. Fiscal year is January - December.

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Mar '26 Mar 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Market Capitalization	205	203	385	485	317	356	Upgrade
Market Cap Growth	-50.05%	-47.31%	-20.69%	52.80%	-10.94%	167.93%	Upgrade
Enterprise Value	170	163	366	475	268	318	Upgrade
Last Close Price	2.99	2.96	6.85	9.24	6.06	8.14	Upgrade
Forward PE	-	13.08	11.25	16.59	7.36	-	Upgrade
PB Ratio	4.78	4.73	16.93	29.13	6.23	7.36	Upgrade
P/TBV Ratio	4.78	4.73	16.93	29.13	6.23	7.36	Upgrade
Debt / Equity Ratio	0.07	0.07	-	1.38	0.37	0.38	Upgrade
Net Debt / Equity Ratio	-0.82	-0.82	-0.90	-0.80	-0.78	-0.60	Upgrade
Net Debt / EBITDA Ratio	-	-	-	-	0.64	0.91	Upgrade
Net Debt / FCF Ratio	1.36	1.36	1.11	0.50	0.81	0.62	Upgrade
Quick Ratio	23.13	23.13	15.02	9.34	26.54	7.10	Upgrade
Current Ratio	25.77	25.77	15.02	9.34	27.70	9.91	Upgrade
Return on Equity (ROE)	-61.75%	-61.75%	-99.69%	-101.24%	-111.44%	-85.27%	Upgrade
Return on Assets (ROA)	-45.54%	-45.54%	-39.73%	-43.24%	-51.13%	-41.61%	Upgrade
Return on Capital Employed (ROCE)	-56.10%	-56.10%	-98.10%	-101.60%	-89.60%	-47.80%	Upgrade
Earnings Yield	-9.69%	-9.79%	-5.17%	-7.04%	-18.15%	-8.18%	Upgrade
FCF Yield	-	-12.71%	-4.83%	-5.43%	-15.43%	-13.23%	Upgrade
Buyback Yield / Dilution	-8.78%	-8.78%	-9.25%	-8.47%	-37.72%	-28.18%	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.