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 84,913 146,294 155,271 - -
Change - 11.79% -19.63% -1.27% 72.29% 6.14% - -
Enterprise Value (EV) 1 94,811 106,996 96,735 95,575 161,499 170,282 166,089 161,370
Change - 12.85% -9.59% -1.2% 68.98% 5.44% -2.46% -2.84%
P/E 11x 8.62x 14.2x 8.47x 15.4x 13.1x 10.5x 9.71x
PBR 1.88x 1.84x 1.52x 1.31x 1.91x 1.81x 1.59x 1.45x
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 1.33x 1.2x 1.19x
EV / Revenue 1.38x 1.24x 1.23x 1.07x 1.73x 1.46x 1.28x 1.23x
EV / EBITDA 5.68x 4.85x 6.66x 4.67x 7.35x 6.37x 5.37x 5x
EV / EBIT 8.55x 6.73x 11.7x 6.98x 12.2x 10.5x 8.26x 7.59x
EV / FCF 13.3x 16.9x -28.8x 35.9x -17.5x 39.5x 18x 12.8x
FCF Yield 7.54% 5.92% -3.47% 2.79% -5.73% 2.53% 5.54% 7.82%
Dividend per Share 2 26 26.5 7.5 - - 14.01 21.21 25.19
Rate of return 7.43% 6.77% 2.38% - - 2.56% 3.88% 4.61%
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 2 350.00 391.25 314.50 310.50 515.20 546.80 546.80 546.80
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.66x1.52x6.63x2.45% 16.07B
27.01x10.43x15.99x1.91% 164B
25.68x3.83x9.12x0.78% 102B
12.74x1.49x6.18x2.78% 58.16B
21.08x3.92x13.37x0.83% 23.53B
7.66x0.31x8.11x5.54% 22.08B
33.67x - - 1.21% 20.17B
21.55x1.24x10.69x2.04% 18.55B
12.02x1.64x10.98x2.73% 17.76B
Average 19.45x 3.05x 10.13x 2.25% 49.17B
Weighted average by Cap. 22.53x 5.60x 11.62x 1.91%

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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