Company Valuation: Ependion AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,244 3,184 3,635 2,821 3,633 4,843 - -
Change - 41.88% 14.18% -22.4% 28.8% 33.3% - -
Enterprise Value (EV) 1 2,875 3,918 4,348 3,503 4,325 5,482 5,335 5,086
Change - 36.26% 10.99% -19.44% 23.48% 26.76% -2.68% -4.68%
P/E 62.9x 21.8x 18.1x 17.8x 24x 24.5x 18.1x 14.7x
PBR 3.08x 3.22x 3.14x 2.12x 2.23x 2.69x 2.41x 2.15x
PEG - 0x 0.5x -0.8x -1.7x 0.8x 0.5x 0.7x
Capitalization / Revenue 1.39x 1.5x 1.47x 1.25x 1.63x 1.88x 1.69x 1.54x
EV / Revenue 1.78x 1.84x 1.76x 1.55x 1.94x 2.13x 1.86x 1.61x
EV / EBITDA 13.2x 11x 9.17x 8.19x 10x 10.1x 8.28x 6.98x
EV / EBIT 42.1x 19.5x 13.5x 14x 18.6x 17.8x 13.6x 11x
EV / FCF -30.8x 51.3x 42.5x 14.9x 22.2x 28.9x 21x 16.8x
FCF Yield -3.25% 1.95% 2.36% 6.72% 4.5% 3.47% 4.77% 5.96%
Dividend per Share 2 0.5 0.5 1 1.25 1.5 2 2.5 3.035
Rate of return 0.64% 0.45% 0.8% 1.29% 1.33% 1.33% 1.66% 2.02%
EPS 2 1.24 5.07 6.93 5.45 4.7 6.12 8.32 10.2
Distribution rate 40.3% 9.86% 14.4% 22.9% 31.9% 32.7% 30% 29.8%
Net sales 1 1,619 2,128 2,471 2,258 2,232 2,573 2,865 3,153
EBITDA 1 218 354.8 474 427.5 432.5 543.6 644.3 728.3
EBIT 1 68.27 201.1 321.7 250.9 232.1 308.4 393.3 464
Net income 1 35.76 146.1 200.4 157 146.7 212.1 275.6 333.7
Net Debt 1 631.2 734 713 682 692 639.5 492.5 243
Reference price 2 78.00 110.40 125.60 97.10 113.00 150.20 150.20 150.20
Nbr of stocks (in thousands) 28,768 28,837 28,941 29,050 32,152 32,243 - -
Announcement Date 1/27/22 1/25/23 1/25/24 1/31/25 1/26/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.54x2.13x10.09x1.33% 493M
-44.52x46.42x1356.95x - 46.12B
17.16x0.98x10.82x1.71% 18.65B
27.8x0.96x20.27x0.38% 13.99B
-1.65x2.71x11.14x-.--% 6.84B
37.9x4.33x25.8x1.8% 3.22B
Average 10.20x 9.59x 239.18x 1.05% 14.88B
Weighted average by Cap. -13.68x 24.70x 708.04x 1.01%

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 Ependion AB
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