Company Valuation: Balder

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,21,561 55,992 82,534 91,392 81,158 62,421 - -
Change - -53.94% 47.4% 10.73% -11.2% -23.09% - -
Enterprise Value (EV) 1 2,36,463 1,82,220 2,09,336 2,23,800 2,13,956 2,02,319 2,02,770 2,00,967
Change - -22.94% 14.88% 6.91% -4.4% -5.44% 0.22% -0.89%
P/E 6.57x 5.34x -12.2x 27.2x 11.6x 11x 9.36x 8.91x
PBR 1.57x 0.62x 1x 1.03x 0.86x 0.63x 0.6x 0.56x
PEG - -0.1x 0x -0x 0x -0.6x 0.5x 1.77x
Capitalization / Revenue 13.6x 5.32x 6.91x 7.1x 5.91x 4.36x 4.21x 4.09x
EV / Revenue 26.4x 17.3x 17.5x 17.4x 15.6x 14.1x 13.7x 13.2x
EV / EBITDA 39.9x 26.9x 24.3x 26.2x 23.4x 20.6x 19.9x 19.1x
EV / EBIT 36.5x 27x 24.3x 26.6x 23.6x 18.9x 18.3x 17.6x
EV / FCF -8.34x -23.2x -155x 117x 150x 75.7x 73.5x 71.1x
FCF Yield -12% -4.32% -0.65% 0.85% 0.67% 1.32% 1.36% 1.41%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 16.54 9.09 -5.85 2.82 5.86 4.86 5.701 5.988
Distribution rate - - - - - - - -
Net sales 1 8,956 10,521 11,944 12,876 13,721 14,307 14,835 15,264
EBITDA 1 5,927 6,777 8,624 8,533 9,154 9,800 10,201 10,533
EBIT 1 6,480 6,760 8,608 8,425 9,063 10,682 11,098 11,401
Net income 1 18,508 10,175 -6,746 3,304 7,621 5,623 5,624 5,779
Net Debt 1 1,14,902 1,26,228 1,26,802 1,32,408 1,32,798 1,39,898 1,40,348 1,38,546
Reference price 2 108.63 48.52 71.52 76.80 68.20 53.34 53.34 53.34
Nbr of stocks (in thousands) 11,19,000 11,54,000 11,54,000 11,90,000 11,90,000 11,70,250 - -
Announcement Date 11/02/22 10/02/23 09/02/24 07/02/25 06/02/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.39x5.15x13.85x3.09% 4.67TCr
9x1.53x8x3.95% 3.11TCr
18.3x4.04x16.3x1.34% 2.81TCr
5.55x0.68x1.43x9.01% 2.67TCr
14x3.1x14.84x2.51% 2.56TCr
11.15x2.12x9.92x3.98% 2.11TCr
8.15x0.9x3.29x2.74% 2.08TCr
13.56x6.56x17.49x1.58% 1.97TCr
10.59x1.68x14.51x3.57% 1.93TCr
Average 11.85x 2.86x 11.07x 3.53% 2.66TCr
Weighted average by Cap. 12.30x 3.03x 11.18x 3.56%

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