Company Valuation: Nokian Renkaat Oyj

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,603 1,324 1,139 1,013 1,305 2,219 - -
Change - -71.23% -14.04% -11.04% 28.85% 70.06% - -
Enterprise Value (EV) 1 4,504 1,465 1,362 1,626 1,969 2,847 2,747 2,673
Change - -67.47% -7.05% 19.37% 21.1% 44.59% -3.53% -2.69%
P/E 22.3x -7.54x -3.5x -43.2x -86x 35.8x 20.3x 14.7x
PBR 2.83x 0.92x 0.85x 0.8x 1.12x 1.87x 1.79x 1.67x
PEG - 0x -0x 0.5x 2.4x -0x 0.3x 0.4x
Capitalization / Revenue 2.69x 0.75x 0.97x 0.79x 0.95x 1.5x 1.37x 1.27x
EV / Revenue 2.63x 0.83x 1.16x 1.26x 1.43x 1.92x 1.7x 1.53x
EV / EBITDA 10.6x 7.54x 9.27x 12.9x 11.1x 10.8x 8.3x 6.96x
EV / EBIT 16.8x -12.6x 42.4x 903x 55x 24.4x 16.2x 12.1x
EV / FCF 16.3x -10.9x -8.03x -5.96x -148x 35.5x 21.3x 14.4x
FCF Yield 6.15% -9.14% -12.5% -16.8% -0.68% 2.81% 4.7% 6.95%
Dividend per Share 2 1.32 0.55 0.55 0.25 0.25 0.3 0.4188 0.5502
Rate of return 3.96% 5.74% 6.66% 3.4% 2.64% 1.86% 2.6% 3.42%
EPS 2 1.49 -1.27 -2.36 -0.17 -0.11 0.4494 0.7925 1.092
Distribution rate 88.6% -43.3% -23.3% -147% -227% 66.8% 52.8% 50.4%
Net sales 1 1,714 1,776 1,174 1,290 1,374 1,484 1,620 1,751
EBITDA 1 425.7 194.4 147 126 178 263.8 330.7 383.8
EBIT 1 268.2 -116.2 32.1 1.8 35.8 116.6 169.8 221.2
Net income 1 206.2 -175.5 -325.5 -22.8 -15 57.96 106.6 148.6
Net Debt 1 -98.7 140.9 223.6 613.1 664 627.7 527.3 453.4
Reference price 2 33.30 9.58 8.26 7.35 9.46 16.09 16.09 16.09
Nbr of stocks (in thousands) 1,38,224 1,38,251 1,37,867 1,37,870 1,37,875 1,37,928 - -
Announcement Date 08/02/22 07/02/23 06/02/24 04/02/25 10/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.22x1.08x5.73x3.24% 3.21TCr
13.98x1.02x5.69x3.93% 2.7TCr
11.5x1.18x6.64x2.58% 728.68Cr
8.44x1.13x5.46x3.43% 699.98Cr
9.94x - - 3.06% 654.76Cr
18.13x - - 3.09% 496.34Cr
9.78x0.66x5.34x4.14% 357.85Cr
7.79x0.84x4.02x3.81% 357.52Cr
35.81x1.92x10.79x1.86% 257.25Cr
Average 14.40x 1.12x 6.24x 3.24% 1.05TCr
Weighted average by Cap. 13.60x 1.07x 5.84x 3.4%

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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  5. Valuation Nokian Renkaat Oyj