Company Valuation: Ependion AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,244 3,184 3,635 2,821 3,633 4,875 - -
Change - 41.88% 14.18% -22.4% 28.8% 34.18% - -
Enterprise Value (EV) 1 2,875 3,918 4,348 3,503 4,325 5,515 5,368 5,118
Change - 36.26% 10.99% -19.44% 23.48% 27.5% -2.67% -4.65%
P/E 62.9x 21.8x 18.1x 17.8x 24x 25.2x 18.5x 15.1x
PBR 3.08x 3.22x 3.14x 2.12x 2.23x 2.75x 2.48x 2.21x
PEG - 0x 0.5x -0.8x -1.7x 0.8x 0.5x 0.7x
Capitalization / Revenue 1.39x 1.5x 1.47x 1.25x 1.63x 1.89x 1.7x 1.55x
EV / Revenue 1.78x 1.84x 1.76x 1.55x 1.94x 2.14x 1.87x 1.62x
EV / EBITDA 13.2x 11x 9.17x 8.19x 10x 10.1x 8.33x 7.03x
EV / EBIT 42.1x 19.5x 13.5x 14x 18.6x 17.9x 13.6x 11x
EV / FCF -30.8x 51.3x 42.5x 14.9x 22.2x 29x 21.1x 16.9x
FCF Yield -3.25% 1.95% 2.36% 6.72% 4.5% 3.45% 4.74% 5.92%
Dividend per Share 2 0.5 0.5 1 1.25 1.5 2 2.5 3.035
Rate of return 0.64% 0.45% 0.8% 1.29% 1.33% 1.3% 1.62% 1.97%
EPS 2 1.24 5.07 6.93 5.45 4.7 6.12 8.32 10.2
Distribution rate 40.3% 9.86% 14.4% 22.9% 31.9% 32.7% 30% 29.8%
Net sales 1 1,619 2,128 2,471 2,258 2,232 2,573 2,865 3,153
EBITDA 1 218 354.8 474 427.5 432.5 543.6 644.3 728.3
EBIT 1 68.27 201.1 321.7 250.9 232.1 308.4 393.3 464
Net income 1 35.76 146.1 200.4 157 146.7 212.1 275.6 333.7
Net Debt 1 631.2 734 713 682 692 639.5 492.5 243
Reference price 2 78.00 110.40 125.60 97.10 113.00 154.00 154.00 154.00
Nbr of stocks (in thousands) 28,768 28,837 28,941 29,050 32,152 32,243 - -
Announcement Date 27/01/22 25/01/23 25/01/24 31/01/25 26/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.16x2.18x10.31x1.3% 51Cr
-41.55x42.96x1255.76x - 4.3TCr
17.44x1x10.96x1.68% 1.9TCr
27.74x0.96x20.23x0.38% 1.39TCr
-1.67x2.76x11.34x-.--% 693.75Cr
38.07x4.35x25.92x1.8% 322.89Cr
29.18x - - 0.3% 264.38Cr
Average 13.48x 9.03x 222.42x 0.91% 1.28TCr
Weighted average by Cap. -9.74x 22.12x 631.59x 0.96%

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

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