Stock THULE THULE GROUP AB
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Financials Thule Group AB

Equities

THULE

SE0006422390

Auto, Truck & Motorcycle Parts

Market Closed - Nasdaq Stockholm
Other stock markets
 11:59:30 30/04/2024 BST 		5-day change 1st Jan Change
314 SEK +1.55% Intraday chart for Thule Group AB +3.29% +14.39%
04-26 Thule Group AB Announces Board Appointments CI
04-26 Thule Group AB Approves Dividend for the Year 2023, Payable on 6 May 2024 and 10 October 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,293 32,163 57,300 22,763 29,024 32,693 - -
Enterprise Value (EV) 1 24,412 32,547 58,767 25,631 31,030 34,398 33,871 33,546
P/E ratio 25.3 x 27.4 x 32.3 x 18 x 26.3 x 24.8 x 21.2 x 19.3 x
Yield - 5.04% 2.37% 4.23% 3.46% 3.15% 3.48% 3.78%
Capitalization / Revenue 3.17 x 4.11 x 5.52 x 2.25 x 3.18 x 3.29 x 3.11 x 2.9 x
EV / Revenue 3.47 x 4.16 x 5.66 x 2.53 x 3.4 x 3.46 x 3.22 x 2.97 x
EV / EBITDA 17.7 x 18.7 x 23.6 x 13.4 x 17.6 x 16.7 x 14.4 x 13.2 x
EV / FCF 27.6 x 22.5 x 94 x 148 x 19.4 x 22.1 x 21 x 20.2 x
FCF Yield 3.62% 4.44% 1.06% 0.67% 5.15% 4.52% 4.76% 4.96%
Price to Book 5.15 x 6.12 x 9.85 x 3.47 x 4.21 x 4.48 x 4.03 x 3.88 x
Nbr of stocks (in thousands) 103,209 104,562 104,562 104,562 105,733 105,733 - -
Reference price 2 216.0 307.6 548.0 217.7 274.5 309.2 309.2 309.2
Announcement Date 12/02/20 10/02/21 09/02/22 10/02/23 09/02/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,038 7,828 10,386 10,138 9,132 9,929 10,516 11,289
EBITDA 1 1,383 1,737 2,493 1,906 1,763 2,059 2,352 2,546
EBIT 1 1,245 1,593 2,341 1,706 1,505 1,787 2,075 2,268
Operating Margin 17.69% 20.35% 22.54% 16.83% 16.48% 18% 19.73% 20.09%
Earnings before Tax (EBT) 1 1,146 1,527 2,303 1,647 1,420 1,710 1,998 2,202
Net income 1 883 1,166 1,790 1,275 1,099 1,314 1,537 1,692
Net margin 12.55% 14.9% 17.23% 12.58% 12.03% 13.24% 14.62% 14.98%
EPS 2 8.550 11.21 16.95 12.12 10.44 12.45 14.56 16.01
Free Cash Flow 1 883 1,444 625 173 1,599 1,554 1,611 1,664
FCF margin 12.55% 18.45% 6.02% 1.71% 17.51% 15.65% 15.32% 14.74%
FCF Conversion (EBITDA) 63.85% 83.13% 25.07% 9.08% 90.7% 75.46% 68.49% 65.35%
FCF Conversion (Net income) 100% 123.84% 34.92% 13.57% 145.5% 118.25% 104.78% 98.35%
Dividend per Share 2 - 15.50 13.00 9.200 9.500 9.728 10.75 11.68
Announcement Date 12/02/20 10/02/21 09/02/22 10/02/23 09/02/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,846 3,034 3,314 2,139 1,651 2,226 3,029 2,311 1,566 2,420 3,292 2,488 1,718
EBITDA 1 232 738 865 243 59 441 776 427 119 479 859.5 556.9 165.6
EBIT 1 190 692 817 193 4 382 711 359 53 412 799.7 467.6 108
Operating Margin 10.29% 22.81% 24.65% 9.02% 0.24% 17.16% 23.47% 15.53% 3.38% 17.02% 24.29% 18.79% 6.29%
Earnings before Tax (EBT) 1 180 682 806 177 -17 358 702 329 31 393 779.3 447.9 90.04
Net income 1 154 527 626 137 -16 275 539 262 24 300 598.2 348.5 68.65
Net margin 8.34% 17.37% 18.89% 6.4% -0.97% 12.35% 17.79% 11.34% 1.53% 12.4% 18.17% 14% 4%
EPS 2 1.460 4.990 5.950 1.310 -0.1500 2.620 5.140 2.470 0.2300 2.830 6.836 0.3500 1.780
Dividend per Share - - - - - - - - - - - - -
Announcement Date 09/02/22 26/04/22 21/07/22 27/10/22 10/02/23 27/04/23 19/07/23 27/10/23 09/02/24 26/04/24 - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,119 384 1,467 2,868 2,006 1,705 1,178 853
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.532 x 0.2211 x 0.5884 x 1.505 x 1.138 x 0.8278 x 0.5008 x 0.3352 x
Free Cash Flow 1 883 1,444 625 173 1,599 1,554 1,611 1,664
ROE (net income / shareholders' equity) 21.2% 24.3% 32.3% 20.6% 15.1% 18.6% 19.9% 20.9%
ROA (Net income/ Total Assets) 11.1% 13.9% 19.2% 11.7% 9.71% 11.8% 13.4% 14.2%
Assets 1 7,991 8,367 9,320 10,935 11,322 11,185 11,439 11,908
Book Value Per Share 2 42.00 50.20 55.60 62.70 65.20 69.10 76.70 79.70
Cash Flow per Share 2 9.970 15.50 10.80 5.890 17.60 18.10 20.00 18.70
Capex 1 147 170 503 443 251 303 291 326
Capex / Sales 2.09% 2.17% 4.84% 4.37% 2.75% 3.05% 2.76% 2.89%
Announcement Date 12/02/20 10/02/21 09/02/22 10/02/23 09/02/24 - - -
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Thule Group AB

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
309.2 SEK
Average target price
312 SEK
Spread / Average Target
+0.91%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Automotive Accessories

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Automotive Accessories
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