Company Valuation: Systemair AB

Data adjusted to current consolidation scope
Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 12,979 18,491 15,600 17,098 14,734 18,096 - -
Change - 42.47% -15.64% 9.6% -13.82% 22.82% - -
Enterprise Value (EV) 1 15,022 19,994 16,648 17,999 15,622 18,831 18,119 17,531
Change - 33.09% -16.73% 8.11% -13.2% 20.54% -3.78% -3.24%
P/E 23.9x 17.8x 24.2x 25.1x 19.3x 19x 16.4x 15x
PBR 3.4x 3.51x 2.76x 2.97x 2.41x 2.67x 2.41x 2.19x
PEG - 0.2x -0.6x 4.58x 1.6x 0.8x 1x 1.62x
Capitalization / Revenue 1.35x 1.53x 1.27x 1.39x 1.18x 1.35x 1.27x 1.21x
EV / Revenue 1.56x 1.66x 1.36x 1.46x 1.25x 1.41x 1.27x 1.17x
EV / EBITDA 12.2x 11.9x 11x 11.3x 9.58x 10.3x 8.96x 8.07x
EV / EBIT 18.3x 18x 15.3x 16x 13.4x 14x 11.8x 10.5x
EV / FCF -165x 76.3x 17.6x 24.9x 22.2x 28.1x 17.8x 16.8x
FCF Yield -0.61% 1.31% 5.69% 4.02% 4.51% 3.56% 5.61% 5.94%
Dividend per Share 2 0.9 1.1 1.2 1.35 1.45 1.78 2.08 2.26
Rate of return 1.44% 1.24% 1.6% 1.64% 2.04% 2.04% 2.39% 2.59%
EPS 2 2.61 5 3.1 3.27 3.67 4.588 5.314 5.806
Distribution rate 34.5% 22% 38.7% 41.3% 39.5% 38.8% 39.1% 38.9%
Net sales 1 9,634 12,058 12,257 12,302 12,503 13,400 14,227 15,001
EBITDA 1 1,229 1,678 1,507 1,586 1,630 1,828 2,023 2,172
EBIT 1 821 1,110 1,085 1,125 1,170 1,347 1,535 1,669
Net income 1 543.9 1,040 645.6 680.7 760.8 953.4 1,105 1,208
Net Debt 1 2,043 1,502 1,048 901 888.1 734.4 22.58 -565
Reference price 2 62.40 88.90 75.00 82.20 71.00 87.20 87.20 87.20
Nbr of stocks (in thousands) 208,000 208,000 208,000 208,000 207,525 207,525 - -
Announcement Date 08/06/22 08/06/23 04/06/24 05/06/25 10/06/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.32x4.09x20.01x0.95% 94.41B
29.95x3.74x20.07x1.13% 86.79B
26.38x2.37x11.51x1.83% 44.41B
20.8x1.1x8.05x1.74% 36.78B
15.16x2.4x10.96x1.43% 12.42B
25.6x1.5x14.67x4.01% 12.03B
26.43x2.33x13.46x1.14% 8.79B
15.71x2.09x10.18x2.53% 7.74B
27.17x2.06x15.87x1.17% 7.34B
Average 23.95x 2.41x 13.86x 1.77% 34.52B
Weighted average by Cap. 26.58x 3.08x 16.30x 1.41%

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

-40%: Exceptional extension
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