Company Valuation: Volvo

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 427,626 387,546 534,513 546,897 601,921 653,409 - -
Change - -9.37% 37.92% 2.32% 10.06% 8.55% - -
Enterprise Value (EV) 1 377,226 326,246 467,813 479,697 553,521 596,073 583,674 572,779
Change - -13.51% 43.39% 2.54% 15.39% 7.69% -2.08% -1.87%
P/E 13x 11.7x 10.7x 10.8x 17.5x 15.5x 12.7x 11.7x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.33x 3.05x 2.83x
PEG - -62.87x 0.2x 9.45x -0.6x 0.7x 0.6x 1.37x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.31x 1.2x 1.14x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.19x 1.07x 1x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 7.68x 6.46x 5.9x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 10.3x 8.54x 7.68x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 17.4x 14.2x 12.9x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 5.75% 7.05% 7.75%
Dividend per Share 2 13 14 18 18.5 13 15.5 18.37 19.72
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.83% 5.72% 6.14%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.7 25.2 27.36
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 74.9% 72.9% 72.1%
Net sales 1 372,216 473,479 552,764 526,816 479,183 500,442 545,628 573,593
EBITDA 1 59,735 71,196 98,865 88,266 74,704 77,597 90,403 97,142
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,663 68,314 74,560
Net income 1 32,787 32,722 49,825 50,389 34,456 42,226 52,260 56,694
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -57,337 -69,735 -80,630
Reference price 2 209.65 188.48 261.70 268.60 295.90 321.20 321.20 321.20
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.($)
15.8x1.22x7.84x4.74% 65.67B
9.8x0.36x3.91x5.88% 12.56B
11.49x0.33x6.72x5.72% 3.46B
11.02x0.42x2.78x2.42% 2.76B
10.35x0.41x4.18x3.72% 2.01B
11.96x0.29x3.44x4.95% 2.01B
Average 11.73x 0.50x 4.81x 4.57% 14.75B
Weighted average by Cap. 14.41x 1.00x 6.90x 4.85%

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