Company Valuation: NIBE Industrier AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,75,697 1,95,760 1,42,738 87,175 71,812 89,554 - -
Change - -28.99% -27.09% -38.93% -17.62% 24.71% - -
Enterprise Value (EV) 1 2,81,271 2,02,300 1,59,976 1,06,279 88,911 1,04,292 1,01,165 98,484
Change - -28.08% -20.92% -33.57% -16.34% 17.3% -3% -2.65%
P/E 82.9x 45x 29.9x 74.6x 31.5x 26.7x 22.1x 19.9x
PBR 12.9x 7.01x 4.73x 2.72x 2.37x 2.66x 2.44x 2.25x
PEG - 1.5x 3.08x -1x 0.3x 0.6x 1.1x 1.8x
Capitalization / Revenue 8.94x 4.89x 3.06x 2.15x 1.76x 2.06x 1.91x 1.79x
EV / Revenue 9.12x 5.05x 3.43x 2.62x 2.18x 2.4x 2.16x 1.97x
EV / EBITDA 49x 27.5x 18.3x 20.1x 13.8x 13.8x 12.2x 11x
EV / EBIT 63.4x 34.5x 22.9x 32.9x 20.7x 20.1x 17.2x 15.4x
EV / FCF 139x 368x -7,272x 59.6x 43.8x 25.1x 22.8x 20.8x
FCF Yield 0.72% 0.27% -0.01% 1.68% 2.28% 3.98% 4.38% 4.82%
Dividend per Share 2 0.5 0.65 0.65 0.3 0.35 0.4907 0.5938 0.6582
Rate of return 0.37% 0.67% 0.92% 0.69% 0.98% 1.1% 1.34% 1.48%
EPS 2 1.65 2.16 2.37 0.58 1.13 1.661 2.006 2.23
Distribution rate 30.3% 30.1% 27.4% 51.7% 31% 29.5% 29.6% 29.5%
Net sales 1 30,832 40,071 46,649 40,521 40,841 43,449 46,932 50,064
EBITDA 1 5,735 7,347 8,745 5,275 6,441 7,532 8,300 8,919
EBIT 1 4,438 5,863 6,973 3,226 4,303 5,177 5,892 6,395
Net income 1 3,320 4,351 4,785 1,173 2,277 3,352 4,052 4,479
Net Debt 1 5,574 6,540 17,238 19,104 17,099 14,739 11,612 8,930
Reference price 2 136.75 97.10 70.80 43.24 35.62 44.42 44.42 44.42
Nbr of stocks (in thousands) 20,16,066 20,16,066 20,16,066 20,16,066 20,16,066 20,16,066 - -
Announcement Date 17/02/22 15/02/23 16/02/24 14/02/25 12/02/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.6x4.12x20.2x0.94% 9.53TCr
30.35x3.79x20.31x1.11% 8.79TCr
26.74x2.39x11.63x1.81% 4.5TCr
20.8x1.1x8.05x1.74% 3.67TCr
15.35x2.43x11.09x1.41% 1.26TCr
26.09x1.52x14.92x3.94% 1.22TCr
26.74x2.4x13.85x1.1% 910.6Cr
15.72x2.09x10.18x2.53% 774.14Cr
28.03x2.12x16.27x1.13% 758.86Cr
Average 24.27x 2.44x 14.06x 1.75% 3.49TCr
Weighted average by Cap. 26.90x 3.11x 16.49x 1.39%

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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