Company Valuation: AAK AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 50,485 46,163 58,349 81,917 68,707 48,167 - -
Change - -8.56% 26.4% 40.39% -16.13% -29.89% - -
Enterprise Value (EV) 1 54,302 51,870 60,774 83,613 72,065 52,084 51,830 50,897
Change - -4.48% 17.17% 37.58% -13.81% -27.73% -0.49% -1.8%
P/E 35.1x 26x 19.8x 23.2x 20x 13.5x 12.4x 11.6x
PBR 4.28x 3.07x 3.41x 4.08x 3.45x 2.24x 2.04x 1.85x
PEG - 1.1x 0.3x 1.2x -6.64x 3.55x 1.39x 1.72x
Capitalization / Revenue 1.42x 0.92x 1.27x 1.82x 1.49x 1.03x 0.95x 0.91x
EV / Revenue 1.53x 1.03x 1.32x 1.86x 1.57x 1.11x 1.03x 0.96x
EV / EBITDA 17.8x 15.5x 12.2x 14.5x 13x 9.06x 8.37x 7.75x
EV / EBIT 22.7x 20.4x 14.8x 17.1x 15.4x 10.7x 9.85x 9.08x
EV / FCF -489x -39.9x 14.9x 75.5x -163x 20.5x 19.1x 15.3x
FCF Yield -0.2% -2.5% 6.7% 1.32% -0.61% 4.87% 5.23% 6.52%
Dividend per Share 2 2.5 2.75 3.7 5 9.35 5.837 6.143 6.707
Rate of return 1.28% 1.55% 1.65% 1.58% 3.54% 3.16% 3.33% 3.63%
EPS 2 5.57 6.84 11.35 13.62 13.21 13.71 14.94 15.95
Distribution rate 44.9% 40.2% 32.6% 36.7% 70.8% 42.6% 41.1% 42.1%
Net sales 1 35,452 50,425 46,028 45,052 46,021 46,815 50,532 53,200
EBITDA 1 3,047 3,337 4,993 5,758 5,557 5,748 6,193 6,566
EBIT 1 2,393 2,538 4,116 4,896 4,675 4,872 5,260 5,604
Net income 1 1,437 1,770 2,946 3,536 3,429 3,582 3,920 4,197
Net Debt 1 3,817 5,707 2,425 1,696 3,358 3,916 3,663 2,730
Reference price 2 195.30 177.85 224.80 315.60 263.80 184.60 184.60 184.60
Nbr of stocks (in thousands) 258,501 259,559 259,559 259,559 260,451 260,928 - -
Announcement Date 2/4/22 2/2/23 2/7/24 2/5/25 2/5/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.46x1.11x9.06x3.16% 4.83B
19.98x2.74x13.68x4.13% 234B
17.99x2.35x14.02x3.56% 73.8B
15.61x1.66x9.42x4.01% 42.88B
14.7x0.53x9.46x2.63% 38.26B
19.08x2.93x11.9x3.66% 31.67B
34.99x3.03x17.65x1.06% 31.05B
25.03x5.24x16.72x3.35% 28.41B
-8.01x1.78x8.89x7.06% 26.94B
60.78x9.32x38.65x1.25% 26.39B
Average 21.36x 3.07x 14.94x 3.39% 53.86B
Weighted average by Cap. 20.61x 2.86x 14.31x 3.69%

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