Company Valuation: NOTE AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2023 2024 2025 2026 2027
Market Cap 1 1,691 6,603 4,304 4,290 4,796 4,796 -
Change - 290.47% - -0.34% 11.81% 0% -
Enterprise Value (EV) 1 1,691 6,603 4,304 4,509 5,720 6,226 5,899
Change - 290.47% - 4.75% 26.87% 17.11% -5.25%
P/E Ratio 14.7x 34.4x 13.5x 17.2x 18.4x 15x 12x
PBR - - - 2.57x 3.15x 2.45x 2.1x
PEG - 0.5x - -0.8x 1.2x 0.9x 0.5x
Capitalization / Revenue - - - 1.1x 1.36x 1.02x 0.89x
EV / Revenue - - - 1.16x 1.5x 1.32x 1.1x
EV / EBITDA - - - 9.51x 11.3x 9.67x 7.84x
EV / EBIT - - - 12.8x 15x 12.9x 10.5x
EV / FCF - - - - 15.8x 27.8x 18.1x
FCF Yield - - - - 6.34% 3.6% 5.53%
Dividend per Share 2 - - - - 4.64 1.362 1.756
Rate of return - - - - 2.76% 0.81% 1.05%
EPS 2 4.05 6.72 11.04 8.61 9.89 11.22 14.01
Distribution rate - - - - 48.6% 12.1% 12.5%
Net sales 1 - - - 3,901 3,814 4,720 5,369
EBITDA 1 - - - 474 504 643.6 752.1
EBIT 1 - - - 352 381 481.4 564.1
Net income 1 116 194 320 248 281 320.5 399.6
Net Debt 1 - - - 219 530 1,430 1,103
Reference price 2 59.60 231.00 148.50 148.00 168.00 168.00 168.00
Nbr of stocks (in thousands) 28,373 28,584 28,984 28,984 28,549 28,549 -
Announcement Date 18/06/21 28/01/22 22/03/24 27/01/25 26/01/26 - -
1SEK in Million2SEK
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.59x1.39x10.7x2.76% 510M
62.81x9.97x50.52x1.27% 211B
70.73x8.79x16.85x-.--% 91.89B
57.35x - - 0.17% 58.6B
53.77x10.5x39.73x0.9% 54.73B
32.85x9.62x27.51x1.28% 47.51B
63.04x7.84x31.01x0.7% 45.31B
7721x73.39x2307.71x - 41.09B
50.64x8.44x34.5x0.88% 38.2B
37.94x8.45x29.93x0.6% 35.6B
Average 816.77x 15.38x 283.16x 0.95% 62.44B
Weighted average by Cap. 562.09x 14.03x 202.00x 0.82%

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

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