Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,32,382 2,04,141 2,10,346 2,99,520 3,01,970 3,12,143 - -
Change - -38.58% 3.04% 42.39% 0.82% 3.37% - -
Enterprise Value (EV) 1 2,97,231 1,89,986 2,12,445 2,81,130 2,78,032 2,60,311 2,50,919 2,43,755
Change - -36.08% 11.82% 32.33% -1.1% -6.37% -3.61% -2.86%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 17.6x 14.6x 13.6x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.83x 2.64x 2.44x
PEG - -0.6x 0x -90x 0x -0.5x 0.7x 1.86x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.38x 1.35x 1.32x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.15x 1.09x 1.03x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 6.93x 6.66x 6.19x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 8.88x 8.42x 7.77x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 11.4x 9.6x 9.14x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.76% 10.4% 10.9%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.057 3.171 3.314
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.22% 3.34% 3.49%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.387 6.503 6.979
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 56.7% 48.8% 47.5%
Net sales 1 2,32,314 2,71,546 2,63,351 2,47,880 2,36,681 2,26,117 2,30,616 2,35,603
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,590 37,695 39,360
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,323 29,798 31,384
Net income 1 23,000 18,724 -26,446 20 28,428 17,802 20,630 21,459
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -51,832 -61,224 -68,388
Reference price 2 99.79 60.90 63.11 89.88 90.60 94.96 94.96 94.96
Nbr of stocks (in thousands) 33,29,738 33,30,142 33,30,142 33,32,672 33,33,287 32,83,682 - -
Announcement Date 25/01/22 20/01/23 23/01/24 24/01/25 23/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.01x5.83x15.09x1.6% 42TCr
54.16x19.35x38.83x-.--% 26TCr
20.16x0.81x14.74x2.25% 18TCr
28.98x9.22x22.26x0.42% 16TCr
44.42x13.09x29.42x-.--% 8.45TCr
33.06x6.44x18.67x1.06% 7.56TCr
42.56x2.31x14.94x1.66% 5.82TCr
29.37x6.65x22.2x1.41% 5.67TCr
61.54x7.96x35.21x-.--% 5.06TCr
Average 37.81x 7.96x 23.49x 0.93% 14.93TCr
Weighted average by Cap. 34.78x 8.63x 22.64x 1.04%

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