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 84,913 146,294 153,169 - -
Change - 11.79% -19.63% -1.27% 72.29% 4.7% - -
Enterprise Value (EV) 1 94,811 106,996 96,735 95,575 161,499 168,395 163,476 159,068
Change - 12.85% -9.59% -1.2% 68.98% 4.27% -2.92% -2.7%
P/E 11x 8.62x 14.2x 8.47x 15.4x 13x 10.6x 9.66x
PBR 1.88x 1.84x 1.52x 1.31x 1.91x 1.79x 1.59x 1.45x
PEG - 0.2x -0.3x 0.1x -1.73x 0.5x 0.5x 1.01x
Capitalization / Revenue 1.39x 1.24x 1.09x 0.95x 1.56x 1.32x 1.21x 1.2x
EV / Revenue 1.38x 1.24x 1.23x 1.07x 1.73x 1.45x 1.29x 1.24x
EV / EBITDA 5.68x 4.85x 6.66x 4.67x 7.35x 6.33x 5.42x 5.05x
EV / EBIT 8.55x 6.73x 11.7x 6.98x 12.2x 10.5x 8.44x 7.72x
EV / FCF 13.3x 16.9x -28.8x 35.9x -17.5x 39.2x 18.5x 13.1x
FCF Yield 7.54% 5.92% -3.47% 2.79% -5.73% 2.55% 5.41% 7.61%
Dividend per Share 2 26 26.5 7.5 - - 13.86 20.66 24.63
Rate of return 7.43% 6.77% 2.38% - - 2.57% 3.83% 4.57%
EPS 2 31.81 45.37 22.21 36.65 33.39 41.42 50.98 55.84
Distribution rate 81.7% 58.4% 33.8% - - 33.5% 40.5% 44.1%
Net sales 1 68,635 86,437 78,554 89,207 93,509 115,906 127,040 128,028
EBITDA 1 16,703 22,057 14,533 20,475 21,972 26,584 30,142 31,503
EBIT 1 11,083 15,895 8,287 13,692 13,192 16,021 19,377 20,595
Net income 1 8,701 12,410 6,074 10,022 9,404 11,586 13,986 15,091
Net Debt 1 -918 -15 10,728 10,662 15,205 15,226 10,307 5,898
Reference price 2 350.00 391.25 314.50 310.50 515.20 539.40 539.40 539.40
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.($)
25.84x9.93x15.32x2.02% 168B
24x3.59x8.59x0.84% 102B
12.23x1.43x5.71x2.74% 55.82B
41.76x - - 0.47% 21.83B
20.01x3.84x12.48x0.97% 21.71B
8.62x0.28x8.56x4.7% 20.08B
21.74x1.25x10.77x2.02% 18.12B
12.52x1.71x11.88x2.59% 17.98B
Average 20.84x 3.15x 10.47x 2.04% 53.2B
Weighted average by Cap. 22.58x 5.59x 11.44x 1.85%

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