Company Valuation: Volvo

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 427,626 387,546 534,513 546,897 601,921 714,396 - -
Change - -9.37% 37.92% 2.32% 10.06% 18.69% - -
Enterprise Value (EV) 1 377,226 326,246 467,813 479,697 553,521 657,115 644,888 634,314
Change - -13.51% 43.39% 2.54% 15.39% 18.72% -1.86% -1.64%
P/E 13x 11.7x 10.7x 10.8x 17.5x 17.1x 14.1x 13x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.65x 3.36x 3.11x
PEG - -62.87x 0.2x 9.45x -0.6x 0.8x 0.7x 1.6x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.44x 1.32x 1.25x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.32x 1.19x 1.11x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 8.43x 7.17x 6.55x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 11.4x 9.56x 8.59x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 19.2x 15.7x 14.4x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 5.21% 6.36% 6.95%
Dividend per Share 2 13 14 18 18.5 13 15.54 18.36 19.68
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.42% 5.23% 5.6%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.59 24.96 26.99
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 75.5% 73.5% 72.9%
Net sales 1 372,216 473,479 552,764 526,816 479,183 497,117 540,390 569,287
EBITDA 1 59,735 71,196 98,865 88,266 74,704 77,988 89,926 96,834
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,816 67,480 73,808
Net income 1 32,787 32,722 49,825 50,389 34,456 41,863 51,714 55,873
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -57,280 -69,507 -80,082
Reference price 2 209.65 188.48 261.70 268.60 295.90 351.30 351.30 351.30
Nbr of stocks (in thousands) 2,033,452 2,033,452 2,033,452 2,033,452 2,033,452 2,033,452 - -
Announcement Date 28/01/22 26/01/23 26/01/24 29/01/25 28/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.06x1.32x8.43x4.42% 74.93B
11.62x0.5x5.51x5.1% 13.98B
11.68x0.33x6.75x5.47% 3.54B
11.49x0.44x2.93x2.34% 3.04B
13.88x0.39x4.58x4.26% 2.35B
11.27x0.45x4.66x3.5% 2.15B
Average 12.83x 0.57x 5.48x 4.18% 16.67B
Weighted average by Cap. 15.74x 1.10x 7.62x 4.47%

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