Company Valuation: Volvo

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,27,626 3,87,546 5,34,513 5,46,897 6,01,921 6,51,925 - -
Change - -9.37% 37.92% 2.32% 10.06% 8.31% - -
Enterprise Value (EV) 1 3,77,226 3,26,246 4,67,813 4,79,697 5,53,521 5,95,356 5,83,161 5,72,376
Change - -13.51% 43.39% 2.54% 15.39% 7.56% -2.05% -1.85%
P/E 13x 11.7x 10.7x 10.8x 17.5x 15.4x 12.5x 11.5x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.32x 3.01x 2.78x
PEG - -62.87x 0.2x 9.45x -0.6x 0.7x 0.5x 1.33x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.3x 1.19x 1.13x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.18x 1.06x 0.99x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 7.63x 6.43x 5.85x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 10.3x 8.36x 7.55x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 17.2x 13.8x 12.3x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 5.81% 7.24% 8.11%
Dividend per Share 2 13 14 18 18.5 13 15.29 18.37 19.9
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.77% 5.73% 6.21%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.75 25.57 27.77
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 73.7% 71.9% 71.7%
Net sales 1 3,72,216 4,73,479 5,52,764 5,26,816 4,79,183 5,02,475 5,48,767 5,77,321
EBITDA 1 59,735 71,196 98,865 88,266 74,704 78,070 90,761 97,813
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,811 69,746 75,764
Net income 1 32,787 32,722 49,825 50,389 34,456 42,246 52,461 56,922
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -56,569 -68,764 -79,549
Reference price 2 209.65 188.48 261.70 268.60 295.90 320.60 320.60 320.60
Nbr of stocks (in thousands) 20,33,452 20,33,452 20,33,452 20,33,452 20,33,452 20,33,452 - -
Announcement Date 28/01/22 26/01/23 26/01/24 29/01/25 28/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.66x4.72x21.07x0.84% 34TCr
35.15x5.47x29.82x1.03% 17TCr
15.45x1.18x7.63x4.77% 6.59TCr
18.52x1.72x13.96x2.94% 5.8TCr
30.9x4.36x18.2x0.42% 4.88TCr
15.67x1.6x9.12x2.76% 3.95TCr
11.18x1.05x10.5x4.67% 3.49TCr
31.3x4.55x18.15x1.6% 3TCr
12.19x0.4x4.09x4.03% 2.57TCr
Average 22.00x 2.78x 14.73x 2.56% 9.05TCr
Weighted average by Cap. 26.15x 3.90x 19.47x 1.71%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Volvo

Historical PBR trend

Valuation ratios - PBR - Volvo

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Volvo

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Volvo


Year-on-year evolution of the Yield

Valuation ratios - Yield - Volvo