Company Valuation: JM AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,051 11,352 11,450 10,766 8,986 8,199 - -
Change - -59.53% 0.86% -5.97% -16.54% -8.76% - -
Enterprise Value (EV) 1 32,454 17,997 25,817 21,998 19,189 20,952 23,057 25,633
Change - -44.55% 43.45% -14.79% -12.77% 9.19% 10.05% 11.17%
P/E 15.8x 7.35x 26.5x 43.6x 144x 30x 14.6x 9.79x
PBR 3.37x 1.27x 1.37x 1.32x 1.13x 1.01x 0.96x 0.9x
PEG - -0.76x -0.4x -1x -1.9x 0x 0x 0.2x
Capitalization / Revenue 1.92x 0.69x 0.83x 0.86x 0.9x 0.71x 0.63x 0.55x
EV / Revenue 2.22x 1.1x 1.86x 1.76x 1.92x 1.81x 1.76x 1.72x
EV / EBITDA 13.9x 8.9x 17.1x 31.8x 58.9x 38x 26.3x 20.8x
EV / EBIT 14.6x 8.72x 35.3x 41.4x 64.6x 39.3x 26.5x 20.9x
EV / FCF -33.2x - 24.5x 6.47x 385x 66.5x -65.7x 93.5x
FCF Yield -3.01% - 4.09% 15.5% 0.26% 1.5% -1.52% 1.07%
Dividend per Share 2 13.5 14 3 3.25 2 2.625 4.75 7
Rate of return 3.3% 8.13% 1.69% 1.95% 1.44% 2.06% 3.72% 5.49%
EPS 2 25.9 23.4 6.7 3.83 0.97 4.253 8.742 13.04
Distribution rate 52.1% 59.8% 44.8% 84.9% 206% 61.7% 54.3% 53.7%
Net sales 1 14,608 16,385 13,851 12,507 9,981 11,607 13,077 14,929
EBITDA 1 2,329 2,021 1,510 692 326 552 878.2 1,232
EBIT 1 2,216 2,064 732 531 297 533.2 871.4 1,224
Net income 1 1,798 1,575 433 246 63 278 617 907.7
Net Debt 1 4,403 6,645 14,367 11,232 10,203 12,754 14,858 17,434
Reference price 2 408.60 172.10 177.50 166.90 139.30 127.60 127.60 127.60
Nbr of stocks (in thousands) 68,652 65,961 64,505 64,505 64,505 64,505 - -
Announcement Date 02/02/22 01/02/23 30/01/24 31/01/25 30/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30x1.81x38.02x2.06% 855M
13.63x1.3x9.94x1.26% 39.79B
12.15x - - 0.82% 23.19B
10.73x0.96x9.08x3.77% 18.54B
10.06x0.83x9.03x4.25% 13.94B
11.03x1.32x7.85x0.73% 12.97B
13.45x0.82x6.57x3.15% 6.62B
13.86x0.59x6x1.92% 5.74B
13.09x0.7x10.45x3.84% 5.04B
11.38x0.91x7.1x5.35% 4.93B
Average 13.94x 1.02x 11.56x 2.71% 13.16B
Weighted average by Cap. 12.33x 1.07x 9.13x 2.18%

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