Stock AXFO AXFOOD AB
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Financials Axfood AB

Equities

AXFO

SE0006993770

Food Retail & Distribution

Market Closed - Nasdaq Stockholm
Other stock markets
 08:59:32 26/04/2024 pm IST 		5-day change 1st Jan Change
281.3 SEK -3.00% Intraday chart for Axfood AB -2.87% +3.04%
25/04 Transcript : Axfood AB, Q1 2024 Earnings Call, Apr 25, 2024
25/04 Axfood AB Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 43,618 40,124 54,451 61,699 58,907 60,698 - -
Enterprise Value (EV) 1 48,328 44,701 62,091 70,681 68,246 69,844 68,921 69,626
P/E ratio 26.5 x 21.1 x 25.4 x 26 x 25.1 x 22.5 x 20.7 x 20 x
Yield 3.48% 3.91% 2.98% 2.85% 3.11% 2.99% 3.18% 3.51%
Capitalization / Revenue 0.86 x 0.75 x 0.94 x 0.84 x 0.73 x 0.72 x 0.69 x 0.67 x
EV / Revenue 0.95 x 0.83 x 1.07 x 0.96 x 0.84 x 0.83 x 0.78 x 0.77 x
EV / EBITDA 10.9 x 9.39 x 12.2 x 12.4 x 10.8 x 9.87 x 9.06 x 8.96 x
EV / FCF 22.3 x 11.9 x 22.5 x 21.2 x 17.7 x 16.9 x 14.7 x 14 x
FCF Yield 4.49% 8.44% 4.45% 4.72% 5.66% 5.93% 6.8% 7.16%
Price to Book 10.8 x 9.29 x 11 x 9.34 x 8.61 x 8.06 x 7.07 x 6.41 x
Nbr of stocks (in thousands) 2,09,299 2,09,199 2,09,105 2,15,805 2,15,778 2,15,778 - -
Reference price 2 208.4 191.8 260.4 285.9 273.0 281.3 281.3 281.3
Announcement Date 06/02/20 04/02/21 03/02/22 01/02/23 01/02/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 50,740 53,696 57,891 73,474 81,111 84,315 87,930 90,783
EBITDA 1 4,434 4,762 5,103 5,716 6,345 7,078 7,604 7,774
EBIT 1 2,288 2,510 2,690 3,229 3,602 3,833 4,086 4,180
Operating Margin 4.51% 4.67% 4.65% 4.39% 4.44% 4.55% 4.65% 4.6%
Earnings before Tax (EBT) 1 2,173 2,393 2,582 2,935 3,037 3,476 3,770 3,650
Net income 1 1,648 1,908 2,150 2,360 2,357 2,716 2,944 2,885
Net margin 3.25% 3.55% 3.71% 3.21% 2.91% 3.22% 3.35% 3.18%
EPS 2 7.850 9.090 10.24 10.99 10.87 12.53 13.58 14.10
Free Cash Flow 1 2,169 3,771 2,765 3,334 3,861 4,143 4,685 4,983
FCF margin 4.27% 7.02% 4.78% 4.54% 4.76% 4.91% 5.33% 5.49%
FCF Conversion (EBITDA) 48.92% 79.19% 54.18% 58.33% 60.85% 58.54% 61.6% 64.1%
FCF Conversion (Net income) 131.61% 197.64% 128.6% 141.27% 163.81% 152.53% 159.1% 172.73%
Dividend per Share 2 7.250 7.500 7.750 8.150 8.500 8.422 8.933 9.867
Announcement Date 06/02/20 04/02/21 03/02/22 01/02/23 01/02/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 17,062 16,593 18,468 18,674 19,740 19,252 20,797 20,293 20,769 20,252 21,505 21,064 21,493 21,286 22,401
EBITDA 1 1,373 1,479 1,433 1,617 1,188 1,398 1,630 1,794 1,523 1,619 1,758 2,039 1,725 1,752 1,891
EBIT 1 653 653 828 1,015 734 750 942 1,095 815 817 961 1,156 844.5 - -
Operating Margin 3.83% 3.94% 4.48% 5.44% 3.72% 3.9% 4.53% 5.4% 3.92% 4.03% 4.47% 5.49% 3.93% - -
Earnings before Tax (EBT) 1 705 794 749 942 450 615 801 956 665 724 835 1,230 857 - -
Net income 1 610 690 586 735 350 475 632 729 522 561 675 821 583 - -
Net margin 3.58% 4.16% 3.17% 3.94% 1.77% 2.47% 3.04% 3.59% 2.51% 2.77% 3.14% 3.9% 2.71% - -
EPS 2 2.910 3.300 2.740 3.390 1.610 2.190 2.910 3.360 2.410 2.590 3.205 3.915 2.770 - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 03/02/22 21/04/22 15/07/22 20/10/22 01/02/23 26/04/23 14/07/23 25/10/23 01/02/24 25/04/24 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,710 4,577 7,640 8,982 9,339 9,146 8,223 8,928
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.062 x 0.9612 x 1.497 x 1.571 x 1.472 x 1.292 x 1.081 x 1.148 x
Free Cash Flow 1 2,169 3,771 2,765 3,334 3,861 4,143 4,685 4,983
ROE (net income / shareholders' equity) 39.6% 45.7% 46.3% 40.8% 35% 36.9% 35.3% 33.1%
ROA (Net income/ Total Assets) 11.2% 10.6% 10.1% 9.02% 8.04% 9.12% 9.71% 10.5%
Assets 1 14,780 18,068 21,273 26,175 29,318 29,774 30,327 27,502
Book Value Per Share 2 19.20 20.60 23.60 30.60 31.70 34.90 39.80 43.90
Cash Flow per Share 2 17.00 23.10 21.90 27.70 26.80 28.00 28.10 28.40
Capex 1 1,386 1,080 3,842 2,593 1,946 1,736 1,633 1,592
Capex / Sales 2.73% 2.01% 6.64% 3.53% 2.4% 2.06% 1.86% 1.75%
Announcement Date 06/02/20 04/02/21 03/02/22 01/02/23 01/02/24 - - -
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Axfood AB

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
281.3 SEK
Average target price
293 SEK
Spread / Average Target
+4.16%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Supermarkets & Convenience Stores

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Supermarkets & Convenience Stores
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