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 3,25,121 - -
Change - -38.58% 3.04% 42.39% 0.82% 7.67% - -
Enterprise Value (EV) 1 2,97,231 1,89,986 2,12,445 2,81,130 2,78,032 2,75,954 2,66,827 2,59,826
Change - -36.08% 11.82% 32.33% -1.1% -0.75% -3.31% -2.62%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 18.6x 15.8x 14.4x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.95x 2.77x 2.57x
PEG - -0.6x 0x -90x 0x -0.5x 0.9x 1.4x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.44x 1.41x 1.38x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.22x 1.16x 1.1x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 7.33x 7.01x 6.53x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 9.33x 8.9x 8.26x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 12.1x 10.2x 9.79x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.28% 9.77% 10.2%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.063 3.176 3.32
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.09% 3.21% 3.35%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.306 6.248 6.882
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 57.7% 50.8% 48.2%
Net sales 1 2,32,314 2,71,546 2,63,351 2,47,880 2,36,681 2,26,153 2,30,405 2,35,282
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,622 38,042 39,778
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,592 29,966 31,473
Net income 1 23,000 18,724 -26,446 20 28,428 17,844 20,326 21,797
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -49,167 -58,294 -65,294
Reference price 2 99.79 60.90 63.11 89.88 90.60 98.96 98.96 98.96
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.($)
26.46x5.88x15.24x1.58% 42TCr
52.09x18.45x37.03x-.--% 25TCr
20.6x0.83x15.07x2.2% 18TCr
29.37x9.33x22.52x0.42% 16TCr
33.32x6.45x19x1.01% 7.62TCr
43.37x12.78x28.71x-.--% 8.25TCr
42.24x2.23x14.52x1.71% 5.71TCr
27.65x6.24x20.83x1.49% 5.34TCr
58.72x7.6x33.63x-.--% 4.83TCr
Average 37.09x 7.75x 22.95x 0.93% 14.83TCr
Weighted average by Cap. 34.11x 8.32x 22.06x 1.05%

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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