Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 317,155 - -
Change - -38.58% 3.04% 42.39% 0.82% 5.03% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 267,988 258,861 251,861
Change - -36.08% 11.82% 32.33% -1.1% -3.61% -3.41% -2.7%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 18.2x 15.4x 14x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.88x 2.7x 2.51x
PEG - -0.6x 0x -90x 0x -0.5x 0.9x 1.4x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.4x 1.38x 1.35x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.18x 1.12x 1.07x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 7.12x 6.8x 6.33x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 9.06x 8.64x 8x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 11.7x 9.92x 9.49x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.53% 10.1% 10.5%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.063 3.176 3.32
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.17% 3.29% 3.44%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.306 6.248 6.882
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 57.7% 50.8% 48.2%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,153 230,405 235,282
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,622 38,042 39,778
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,592 29,966 31,473
Net income 1 23,000 18,724 -26,446 20 28,428 17,844 20,326 21,797
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -49,167 -58,294 -65,294
Reference price 2 99.79 60.90 63.11 89.88 90.60 96.48 96.48 96.48
Nbr of stocks (in thousands) 3,329,738 3,330,142 3,330,142 3,332,672 3,333,287 3,283,682 - -
Announcement Date 25/01/22 20/01/23 23/01/24 24/01/25 23/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.76x7.07x18.27x1.51% 433B
49.91x17.63x35.38x-.--% 239B
21.22x0.85x15.22x2.18% 186B
27.74x9.15x22.1x0.46% 150B
40.99x12.14x27.52x-.--% 77.94B
35.65x6.88x19.66x0.95% 81.3B
41.02x2.16x14.07x1.75% 55.69B
27.49x6.2x20.74x1.5% 53.07B
69.05x8.06x37.11x-.--% 51.01B
Average 38.54x 7.79x 23.34x 0.93% 147.31B
Weighted average by Cap. 36.18x 8.42x 22.63x 1.04%

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