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 3,64,024 - -
Change - -38.58% 3.04% 42.39% 0.82% 20.55% - -
Enterprise Value (EV) 1 2,97,231 1,89,986 2,12,445 2,81,130 2,78,032 3,13,125 3,05,048 2,96,325
Change - -36.08% 11.82% 32.33% -1.1% 12.62% -2.58% -2.86%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 20.3x 17.1x 16.1x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 3.31x 3.1x 2.88x
PEG - -0.6x 0x -90x 0x -0.6x 0.9x 2.52x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.6x 1.57x 1.54x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.38x 1.31x 1.25x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 8.39x 7.94x 7.54x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 10.8x 9.85x 9.39x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 13.6x 12.5x 11.8x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 7.37% 8.01% 8.48%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.1 3.242 3.405
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 2.81% 2.94% 3.09%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.423 6.454 6.865
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 57.2% 50.2% 49.6%
Net sales 1 2,32,314 2,71,546 2,63,351 2,47,880 2,36,681 2,27,020 2,32,049 2,36,135
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,312 38,398 39,294
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,094 30,958 31,558
Net income 1 23,000 18,724 -26,446 20 28,428 18,639 21,388 22,175
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -50,899 -58,976 -67,699
Reference price 2 99.79 60.90 63.11 89.88 90.60 110.20 110.20 110.20
Nbr of stocks (in thousands) 33,29,738 33,30,142 33,30,142 33,32,672 33,33,287 33,04,253 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.32x1.38x8.39x2.81% 3.78TCr
37.46x7.8x20.14x1.37% 48TCr
55.51x19x39.78x-.--% 24TCr
21.61x0.9x15.69x2.08% 19TCr
40.1x12.29x31.26x0.27% 18TCr
31.88x6.04x17.67x1.12% 7.02TCr
43.32x2.78x18.05x1.38% 6.99TCr
88.51x10.31x47.59x-.--% 6.52TCr
162.37x20.9x61.37x-.--% 6.24TCr
25.64x5.54x19.18x1.7% 4.69TCr
Average 52.67x 8.69x 27.91x 1.07% 14.4TCr
Weighted average by Cap. 45.51x 9.37x 26.61x 1.02%

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