Storytel AB (publ) (STORY-B.ST)

Storytel AB (publ) (STORY-B.ST) — VMCI valuation read

Headline read on STORY-B.ST: VMCI of 60/100 versus a Communication Services sector median of 50. The 10-point above-median position is what makes Storytel AB (publ) a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on STORY-B.ST: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on STORY-B.ST: value (STORY-B.ST trades at 19.0x earnings, 6% above the Communication Services median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Communication Services median (10.0%)), and risk (net debt to EBITDA of -0.4x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Communication Services 12.0x baseline.

STORY-B.ST fell 1.4% over the trailing 7 days, with a -6.2% read on a 30-day basis.