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 6,56,080 - -
Change - -9.37% 37.92% 2.32% 10.06% 9% - -
Enterprise Value (EV) 1 3,77,226 3,26,246 4,67,813 4,79,697 5,53,521 5,98,997 5,86,003 5,74,879
Change - -13.51% 43.39% 2.54% 15.39% 8.22% -2.17% -1.9%
P/E 13x 11.7x 10.7x 10.8x 17.5x 15.6x 12.8x 11.7x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.34x 3.07x 2.84x
PEG - -62.87x 0.2x 9.45x -0.6x 0.7x 0.6x 1.34x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.31x 1.2x 1.14x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.2x 1.07x 1x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 7.71x 6.47x 5.9x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 10.4x 8.55x 7.68x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 17.4x 14.2x 12.9x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 5.74% 7.05% 7.77%
Dividend per Share 2 13 14 18 18.5 13 15.5 18.37 19.72
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.8% 5.69% 6.11%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.73 25.28 27.49
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 74.8% 72.7% 71.7%
Net sales 1 3,72,216 4,73,479 5,52,764 5,26,816 4,79,183 5,00,784 5,46,531 5,75,103
EBITDA 1 59,735 71,196 98,865 88,266 74,704 77,719 90,610 97,496
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,751 68,519 74,880
Net income 1 32,787 32,722 49,825 50,389 34,456 42,295 52,418 56,956
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -57,083 -70,077 -81,201
Reference price 2 209.65 188.48 261.70 268.60 295.90 322.60 322.60 322.60
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.32x5.15x22.85x0.76% 37TCr
37.05x5.73x31.24x0.98% 18TCr
15.56x1.2x7.71x4.8% 6.57TCr
18.36x1.7x13.9x2.97% 5.78TCr
31.21x4.31x18.18x0.42% 4.85TCr
17.22x1.73x9.87x2.53% 4.33TCr
11.22x1.06x10.58x4.61% 3.61TCr
32.13x4.66x18.58x1.56% 3.03TCr
12.05x0.39x4.04x4.08% 2.54TCr
Average 22.79x 2.88x 15.22x 2.52% 9.57TCr
Weighted average by Cap. 27.92x 4.19x 20.72x 1.62%

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