Company Valuation: Castellum AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 83,025 41,461 70,590 59,364 52,360 57,821 - -
Change - -50.06% 70.26% -15.9% -11.8% 10.43% - -
Enterprise Value (EV) 1 152,657 117,452 130,173 115,597 109,259 105,931 106,359 104,592
Change - -23.06% 10.83% -11.2% -5.48% -3.05% 0.4% -1.66%
P/E 5.83x 23.9x -5.58x 25.2x 55.7x 13.8x 11.5x 10.3x
PBR 1x 0.52x 0.91x 0.75x 0.67x 0.81x 0.76x 0.71x
PEG - -0.3x 0x -0x -0.9x 0x 0.6x 0.8x
Capitalization / Revenue 13.1x 4.61x 7.2x 6.03x 5.46x 6.38x 7.01x 6.85x
EV / Revenue 24x 13.1x 13.3x 11.7x 11.4x 11.7x 12.9x 12.4x
EV / EBITDA 36.6x 21.1x 21.1x 17.7x 17.5x 16.8x 18x 17.2x
EV / EBIT 36.6x 21.1x 21.1x 17.7x 17.5x 16.3x 17.3x 16.6x
EV / FCF -13.4x 124x 96.3x 64.4x 145x 65.3x 49x 45.4x
FCF Yield -7.45% 0.8% 1.04% 1.55% 0.69% 1.53% 2.04% 2.2%
Dividend per Share 2 7.6 - - 2.48 - 2.464 2.588 2.792
Rate of return 3.12% - - 2.06% - 1.91% 2% 2.16%
EPS 2 41.81 5.29 -25.68 4.79 1.91 9.368 11.19 12.61
Distribution rate 18.2% - - 51.8% - 26.3% 23.1% 22.1%
Net sales 1 6,353 8,996 9,806 9,849 9,593 9,065 8,248 8,446
EBITDA 1 4,172 5,568 6,163 6,545 6,260 6,295 5,920 6,068
EBIT 1 4,172 5,568 6,163 6,545 6,260 6,484 6,147 6,315
Net income 1 11,828 1,750 -11,592 2,357 938 4,175 4,026 4,189
Net Debt 1 69,632 75,991 59,583 56,233 56,899 48,109 48,538 46,770
Reference price 2 243.80 126.25 143.30 120.55 106.40 129.25 129.25 129.25
Nbr of stocks (in thousands) 340,544 328,401 492,601 492,446 492,102 447,361 - -
Announcement Date 2/16/22 2/13/23 2/14/24 2/18/25 2/18/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.33x4.63x12.44x3.54% 40.79B
18x3.97x15.96x1.36% 28.36B
7.97x1.43x7.89x4.44% 26.64B
5.77x0.77x1.62x8.62% 27.91B
13.83x3.09x14.76x2.53% 26.05B
10.56x2.14x9.09x3.98% 21.24B
7.98x0.88x3.22x2.8% 20.41B
13.17x6.42x16.88x1.65% 19.28B
37x13.59x33.76x3.2% 17.93B
Average 14.29x 4.10x 12.85x 3.57% 25.4B
Weighted average by Cap. 13.70x 3.81x 12.20x 3.67%

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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