Company Valuation: Castellum AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 83,025 41,461 70,590 59,364 52,360 59,454 - -
Change - -50.06% 70.26% -15.9% -11.8% 13.55% - -
Enterprise Value (EV) 1 152,657 117,452 130,173 115,597 109,259 105,811 107,982 106,209
Change - -23.06% 10.83% -11.2% -5.48% -3.16% 2.05% -1.64%
P/E 5.83x 23.9x -5.58x 25.2x 55.7x 14.2x 11.9x 10.5x
PBR 1x 0.52x 0.91x 0.75x 0.67x 0.84x 0.78x 0.73x
PEG - -0.3x 0x -0x -0.9x 0x 0.6x 0.8x
Capitalization / Revenue 13.1x 4.61x 7.2x 6.03x 5.46x 6.56x 7.21x 6.91x
EV / Revenue 24x 13.1x 13.3x 11.7x 11.4x 11.7x 13.1x 12.4x
EV / EBITDA 36.6x 21.1x 21.1x 17.7x 17.5x 16.8x 18.2x 17.2x
EV / EBIT 36.6x 21.1x 21.1x 17.7x 17.5x 16.4x 17.6x 16.8x
EV / FCF -13.4x 124x 96.3x 64.4x 145x 65.2x 49.7x 46.1x
FCF Yield -7.45% 0.8% 1.04% 1.55% 0.69% 1.53% 2.01% 2.17%
Dividend per Share 2 7.6 - - 2.48 - 2.466 2.597 2.799
Rate of return 3.12% - - 2.06% - 1.86% 1.95% 2.11%
EPS 2 41.81 5.29 -25.68 4.79 1.91 9.368 11.19 12.61
Distribution rate 18.2% - - 51.8% - 26.3% 23.2% 22.2%
Net sales 1 6,353 8,996 9,806 9,849 9,593 9,065 8,248 8,600
EBITDA 1 4,172 5,568 6,163 6,545 6,260 6,295 5,921 6,189
EBIT 1 4,172 5,568 6,163 6,545 6,260 6,452 6,148 6,315
Net income 1 11,828 1,750 -11,592 2,357 938 4,175 4,026 4,189
Net Debt 1 69,632 75,991 59,583 56,233 56,899 46,357 48,527 46,755
Reference price 2 243.80 126.25 143.30 120.55 106.40 132.90 132.90 132.90
Nbr of stocks (in thousands) 340,544 328,401 492,601 492,446 492,102 447,361 - -
Announcement Date 16/02/22 13/02/23 14/02/24 18/02/25 18/02/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.51x4.92x13.25x3.27% 44.16B
18.25x4x16.07x1.34% 28.47B
8.36x1.53x7.99x4.29% 27.74B
5.5x0.66x1.4x9.09% 26.47B
14.38x3.1x14.83x2.51% 26.04B
10.51x2.12x9.04x4% 21.13B
7.81x0.86x3.15x2.86% 19.97B
13.23x6.43x16.91x1.65% 19.16B
10.05x1.48x12.38x3.81% 18.38B
Average 11.51x 2.79x 10.56x 3.65% 25.73B
Weighted average by Cap. 11.97x 2.96x 10.77x 3.67%

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