Company Valuation: NOTE AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2023 2024 2025 2026 2027
Market Cap 1 1,691 6,603 4,304 4,290 4,111 4,111 -
Change - 290.47% - -0.34% -4.16% 0% -
Enterprise Value (EV) 1 1,691 6,603 4,304 4,509 5,720 5,449 5,235
Change - 290.47% - 4.75% 26.87% 17.66% -3.93%
P/E 14.7x 34.4x 13.5x 17.2x 18.4x 14.3x 10.5x
PBR - - - 2.57x 3.15x 2.13x 1.82x
PEG - 0.5x - -0.8x 1.2x 2.54x 0.3x
Capitalization / Revenue - - - 1.1x 1.36x 0.89x 0.77x
EV / Revenue - - - 1.16x 1.5x 1.18x 0.99x
EV / EBITDA - - - 9.51x 11.3x 8.97x 7.11x
EV / EBIT - - - 12.8x 15x 12.1x 9.5x
EV / FCF - - - - 15.8x 27.6x 17.1x
FCF Yield - - - - 6.34% 3.63% 5.84%
Dividend per Share 2 - - - - 4.64 2.69 1.75
Rate of return - - - - 3.22% 1.87% 1.22%
EPS 2 4.05 6.72 11.04 8.61 9.89 10.09 13.68
Distribution rate - - - - 48.6% 26.7% 12.8%
Net sales 1 - - - 3,901 3,814 4,634 5,306
EBITDA 1 - - - 474 504 607.4 736.6
EBIT 1 - - - 352 381 450.4 550.9
Net income 1 116 194 320 248 281 288.2 390.5
Net Debt 1 - - - 219 530 1,338 1,124
Reference price 2 59.60 231.00 148.50 148.00 144.00 144.00 144.00
Nbr of stocks (in thousands) 28,373 28,584 28,984 28,984 28,549 28,549 -
Announcement Date 18/6/21 28/1/22 22/3/24 27/1/25 26/1/26 - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.43x1.24x9.51x3.15% 437M
56.31x8.91x45.24x1.42% 185B
73.86x10.9x20.93x-.--% 116B
70.17x - - 0.14% 70.67B
51.44x10.5x39.05x0.9% 56.53B
9601x91.04x2890.14x - 51.06B
60.46x8.34x33.31x0.69% 47.68B
41.41x9.47x30.77x0.49% 39B
29.46x7.94x22.2x1.15% 38.98B
50.15x8.3x33.98x0.87% 37.95B
Average 1,004.97x 17.41x 347.24x 0.98% 64.4B
Weighted average by Cap. 814.73x 16.67x 288.74x 0.77%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield