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 84,913 146,294 156,179 - -
Change - 11.79% -19.63% -1.27% 72.29% 6.76% - -
Enterprise Value (EV) 1 94,811 106,996 96,735 95,575 161,499 171,190 166,998 162,279
Change - 12.85% -9.59% -1.2% 68.98% 6% -2.45% -2.83%
P/E 11x 8.62x 14.2x 8.47x 15.4x 13.1x 10.6x 9.77x
PBR 1.88x 1.84x 1.52x 1.31x 1.91x 1.82x 1.6x 1.46x
PEG - 0.2x -0.3x 0.1x -1.73x 0.5x 0.4x 1.18x
Capitalization / Revenue 1.39x 1.24x 1.09x 0.95x 1.56x 1.34x 1.2x 1.19x
EV / Revenue 1.38x 1.24x 1.23x 1.07x 1.73x 1.47x 1.29x 1.24x
EV / EBITDA 5.68x 4.85x 6.66x 4.67x 7.35x 6.41x 5.4x 5.03x
EV / EBIT 8.55x 6.73x 11.7x 6.98x 12.2x 10.6x 8.31x 7.64x
EV / FCF 13.3x 16.9x -28.8x 35.9x -17.5x 39.7x 18.1x 12.9x
FCF Yield 7.54% 5.92% -3.47% 2.79% -5.73% 2.52% 5.51% 7.78%
Dividend per Share 2 26 26.5 7.5 - - 14.01 21.21 25.19
Rate of return 7.43% 6.77% 2.38% - - 2.55% 3.86% 4.58%
EPS 2 31.81 45.37 22.21 36.65 33.39 41.83 52 56.3
Distribution rate 81.7% 58.4% 33.8% - - 33.5% 40.8% 44.7%
Net sales 1 68,635 86,437 78,554 89,207 93,509 116,452 129,698 130,978
EBITDA 1 16,703 22,057 14,533 20,475 21,972 26,717 30,931 32,289
EBIT 1 11,083 15,895 8,287 13,692 13,192 16,214 20,096 21,252
Net income 1 8,701 12,410 6,074 10,022 9,404 11,700 14,460 15,410
Net Debt 1 -918 -15 10,728 10,662 15,205 15,011 10,818 6,100
Reference price 2 350.00 391.25 314.50 310.50 515.20 550.00 550.00 550.00
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.($)
13.07x1.46x6.37x2.56% 16.07B
25.06x9.68x14.84x2.06% 164B
23.99x3.59x8.54x0.84% 102B
12.68x1.48x6.13x2.79% 58.16B
20.55x3.83x13.07x0.85% 23.53B
7.51x0.31x8.08x5.65% 22.08B
33.07x - - 1.23% 20.17B
21.5x1.24x10.66x2.04% 18.55B
11.78x1.6x11.02x2.75% 17.76B
Average 18.80x 2.90x 9.84x 2.31% 49.17B
Weighted average by Cap. 21.32x 5.24x 11.00x 2%

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

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  4. Valuation Boliden AB
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