Company Valuation: BESB AB

Data adjusted to current consolidation scope
Fiscal Period: December 2018 2019 2020 2021 2022 2023
Market Cap 1 1,509 2,259 1,915 2,848 1,218 1,471
Change - 49.72% -15.25% 48.74% -57.22% 20.76%
Enterprise Value (EV) 1 1,386 2,193 2,847 6,069 5,473 4,192
Change - 58.2% 29.82% 113.16% -9.83% -23.4%
P/E 12.5x 20.9x 6.95x 36.5x -4x -4.64x
PBR 1.15x 1.63x 1.3x 1.88x 1.06x 0.87x
PEG - -1.9x 0x -0.5x 0x 0.1x
Capitalization / Revenue 1.15x 1.74x 1.42x 5.28x 0.56x 0.62x
EV / Revenue 1.06x 1.69x 2.1x 11.2x 2.53x 1.76x
EV / EBITDA 9.91x 17.5x 27.8x -248x -24.6x -32.6x
EV / EBIT 10.2x 18.2x 29.3x -213x -23.8x -31.3x
EV / FCF -5.73x -64.7x 6.29x -2.93x -8.53x 3.67x
FCF Yield -17.4% -1.54% 15.9% -34.1% -11.7% 27.2%
Dividend per Share 2 2.5 2.5 2.5 4 - -
Rate of return 2.54% 1.7% 2.01% 2.16% - -
EPS 2 7.89 7.04 17.92 5.07 -19.74 -6.86
Distribution rate 31.7% 35.5% 14% 78.9% - -
Net sales 1 1,312 1,297 1,353 539.6 2,167 2,385
EBITDA 1 139.8 125.4 102.3 -24.5 -222.6 -128.4
EBIT 1 136 120.5 97.3 -28.5 -229.6 -133.9
Net income 1 121.5 108.5 276.5 78.4 -304.4 -253.8
Net Debt 1 -122.5 -65.85 932.7 3,222 4,254 2,721
Reference price 2 98.30 147.00 124.50 185.00 79.00 31.80
Nbr of stocks (in thousands) 15,350 15,368 15,378 15,393 15,423 46,268
Announcement Date 3/25/19 3/27/20 3/26/21 3/25/22 3/24/23 5/22/24
1SEK in Million2SEK
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 140M
14.36x1.37x10.44x1.2% 41.92B
12.83x - - 0.78% 24.47B
10.47x0.95x9.04x3.87% 17.9B
11.68x1.43x8.5x0.68% 13.96B
10.1x0.83x9.06x4.23% 13.94B
13.69x0.84x6.74x3.06% 6.78B
14.71x0.65x6.57x1.78% 6.19B
11.94x0.96x7.45x5.09% 5.18B
10x0.78x11.06x3.74% 5.14B
Average 12.20x 0.97x 8.61x 2.72% 13.56B
Weighted average by Cap. 12.58x 1.12x 9.25x 2.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA