Company Valuation: NOTE AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2023 2024 2025 2026 2027
Market Cap 1 1,691 6,603 4,304 4,290 4,194 4,194 -
Change - 290.47% - -0.34% -2.23% 0% -
Enterprise Value (EV) 1 1,691 6,603 4,304 4,509 5,720 5,532 5,319
Change - 290.47% - 4.75% 26.87% 17.36% -3.87%
P/E 14.7x 34.4x 13.5x 17.2x 18.4x 14.6x 10.7x
PBR - - - 2.57x 3.15x 2.13x 1.8x
PEG - 0.5x - -0.8x 1.2x 2.6x 0.3x
Capitalization / Revenue - - - 1.1x 1.36x 0.91x 0.79x
EV / Revenue - - - 1.16x 1.5x 1.19x 1x
EV / EBITDA - - - 9.51x 11.3x 9.11x 7.22x
EV / EBIT - - - 12.8x 15x 12.6x 9.66x
EV / FCF - - - - 15.8x 28x 17.4x
FCF Yield - - - - 6.34% 3.58% 5.75%
Dividend per Share 2 - - - - 4.64 2.69 1.75
Rate of return - - - - 3.16% 1.83% 1.19%
EPS 2 4.05 6.72 11.04 8.61 9.89 10.09 13.68
Distribution rate - - - - 48.6% 26.7% 12.8%
Net sales 1 - - - 3,901 3,814 4,634 5,306
EBITDA 1 - - - 474 504 607.6 736.4
EBIT 1 - - - 352 381 437.6 550.8
Net income 1 116 194 320 248 281 288 390.7
Net Debt 1 - - - 219 530 1,339 1,125
Reference price 2 59.60 231.00 148.50 148.00 146.90 146.90 146.90
Nbr of stocks (in thousands) 28,373 28,584 28,984 28,984 28,549 28,549 -
Announcement Date 18/06/21 28/01/22 22/03/24 27/01/25 26/01/26 - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.83x1.19x9.18x3.28% 42Cr
54.94x8.73x44.01x1.44% 18TCr
72.67x11x21.11x-.--% 12TCr
61.75x - - 0.16% 6.22TCr
48.91x9.86x36.4x0.98% 5.34TCr
9955.56x94.45x2998.34x - 5.29TCr
52.74x7.32x29.21x0.8% 4.18TCr
36.38x8.42x27.74x0.55% 3.48TCr
46.15x7.69x31.32x0.95% 3.52TCr
25.57x7.06x19.77x1.33% 3.42TCr
Average 1,036.95x 17.30x 357.45x 1.05% 6.14TCr
Weighted average by Cap. 908.89x 17.25x 317.35x 0.81%

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