Company Valuation: Axfood AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 54,451 61,699 58,907 50,484 62,660 54,878 - -
Change - 13.31% -4.52% -14.3% 24.12% -12.42% - -
Enterprise Value (EV) 1 62,091 70,681 68,246 65,345 77,258 69,578 68,925 68,565
Change - 13.83% -3.44% -4.25% 18.23% -9.94% -0.94% -0.52%
P/E 25.4x 26x 25.1x 23.1x 26.9x 22x 19.7x 18.6x
PBR 11x 9.34x 8.61x 7.19x 8.35x 7.12x 6.41x 5.8x
PEG - 3.55x -22.99x -3.3x 4x 3.09x 1.7x 3.34x
Capitalization / Revenue 0.94x 0.84x 0.73x 0.6x 0.7x 0.6x 0.58x 0.56x
EV / Revenue 1.07x 0.96x 0.84x 0.78x 0.87x 0.76x 0.73x 0.7x
EV / EBITDA 12.2x 12.4x 10.8x 9.8x 10.1x 8.75x 8.17x 7.86x
EV / EBIT 23.1x 21.9x 18.9x 19x 20.9x 18.3x 16.6x 15.8x
EV / FCF 22.5x 21.2x 17.7x 16.7x 15.4x 17.8x 14x 14.3x
FCF Yield 4.45% 4.72% 5.66% 6% 6.5% 5.61% 7.15% 7%
Dividend per Share 2 7.75 8.15 8.5 8.75 9 9.479 9.993 10.39
Rate of return 2.98% 2.85% 3.11% 3.74% 3.1% 3.73% 3.93% 4.09%
EPS 2 10.24 10.99 10.87 10.11 10.79 11.56 12.92 13.63
Distribution rate 75.7% 74.2% 78.2% 86.5% 83.4% 82% 77.4% 76.2%
Net sales 1 57,891 73,474 81,111 84,057 89,152 91,170 94,776 98,105
EBITDA 1 5,103 5,716 6,345 6,665 7,649 7,952 8,437 8,718
EBIT 1 2,690 3,229 3,602 3,433 3,688 3,811 4,142 4,338
Net income 1 2,150 2,360 2,357 2,192 2,339 2,533 2,831 2,986
Net Debt 1 7,640 8,982 9,339 14,861 14,598 14,701 14,048 13,687
Reference price 2 260.40 285.90 273.00 234.00 290.20 254.20 254.20 254.20
Nbr of stocks (in thousands) 209,105 215,805 215,778 215,745 215,922 215,884 - -
Announcement Date 2/3/22 2/1/23 2/1/24 1/30/25 1/29/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.99x0.76x8.75x3.73% 5.47B
36.24x1.17x17.87x0.96% 827B
24x1.15x10.01x0.99% 50.17B
15.37x0.53x7.79x3.34% 38.65B
15.51x0.62x11.55x2.86% 38.12B
20.4x0.88x5.87x6.2% 35.64B
11.76x0.33x6.18x2.54% 34.86B
26.19x0.82x9.47x2.81% 32.5B
11.74x0.46x5.77x4% 30.98B
16.23x0.58x6.63x2.99% 26.61B
Average 19.94x 0.73x 8.99x 3.04% 112.02B
Weighted average by Cap. 31.49x 1.04x 15.32x 1.52%

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