Company Valuation: Boliden AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 95,729 107,011 86,007 84,913 146,294 147,547 - -
Change - 11.79% -19.63% -1.27% 72.29% 0.86% - -
Enterprise Value (EV) 1 94,811 106,996 96,735 95,575 161,499 162,756 158,149 153,145
Change - 12.85% -9.59% -1.2% 68.98% 0.78% -2.83% -3.16%
P/E 11x 8.62x 14.2x 8.47x 15.4x 12.3x 9.9x 9.07x
PBR 1.88x 1.84x 1.52x 1.31x 1.91x 1.72x 1.5x 1.37x
PEG - 0.2x -0.3x 0.1x -1.73x 0.5x 0.4x 0.99x
Capitalization / Revenue 1.39x 1.24x 1.09x 0.95x 1.56x 1.26x 1.12x 1.12x
EV / Revenue 1.38x 1.24x 1.23x 1.07x 1.73x 1.4x 1.2x 1.16x
EV / EBITDA 5.68x 4.85x 6.66x 4.67x 7.35x 6.04x 5.07x 4.64x
EV / EBIT 8.55x 6.73x 11.7x 6.98x 12.2x 9.64x 7.76x 7.14x
EV / FCF 13.3x 16.9x -28.8x 35.9x -17.5x 41.6x 15.8x 11.6x
FCF Yield 7.54% 5.92% -3.47% 2.79% -5.73% 2.41% 6.34% 8.61%
Dividend per Share 2 26 26.5 7.5 - 11 14.3 21.45 25.41
Rate of return 7.43% 6.77% 2.38% - 2.14% 2.75% 4.13% 4.89%
EPS 2 31.81 45.37 22.21 36.65 33.39 42.34 52.49 57.29
Distribution rate 81.7% 58.4% 33.8% - 32.9% 33.8% 40.9% 44.4%
Net sales 1 68,635 86,437 78,554 89,207 93,509 116,641 131,769 131,630
EBITDA 1 16,703 22,057 14,533 20,475 21,972 26,944 31,182 32,973
EBIT 1 11,083 15,895 8,287 13,692 13,192 16,892 20,379 21,461
Net income 1 8,701 12,410 6,074 10,022 9,404 11,963 14,751 15,711
Net Debt 1 -918 -15 10,728 10,662 15,205 15,210 10,602 5,598
Reference price 2 350.00 391.25 314.50 310.50 515.20 519.60 519.60 519.60
Nbr of stocks (in thousands) 273,511 273,511 273,471 273,471 283,955 283,962 - -
Announcement Date 2/11/22 2/14/23 2/8/24 2/6/25 2/3/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.53x10.25x15.7x1.95% 174B
24.23x3.6x8.61x0.83% 103B
11.21x1.3x5.36x3.17% 51.44B
26.84x5.27x7.98x1.72% 49.59B
14.43x4.29x7.03x5.54% 24.15B
74.34x4.22x12.76x0.03% 22.86B
19.41x3.55x12.12x0.98% 21.78B
6.84x0.28x7.74x6.21% 18.67B
Average 25.48x 4.10x 9.66x 2.55% 58.19B
Weighted average by Cap. 24.96x 5.94x 11.08x 2.03%

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