Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 324,057 - -
Change - -38.58% 3.04% 42.39% 0.82% 7.31% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 274,890 265,763 258,763
Change - -36.08% 11.82% 32.33% -1.1% -1.13% -3.32% -2.63%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 18.6x 15.8x 14.3x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.94x 2.76x 2.57x
PEG - -0.6x 0x -90x 0x -0.5x 0.9x 1.4x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.43x 1.41x 1.38x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.22x 1.15x 1.1x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 7.31x 6.99x 6.51x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 9.29x 8.87x 8.22x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 12x 10.2x 9.75x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.32% 9.81% 10.3%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.063 3.176 3.32
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.1% 3.22% 3.37%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.306 6.248 6.882
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 57.7% 50.8% 48.2%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,153 230,405 235,282
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,622 38,042 39,778
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,592 29,966 31,473
Net income 1 23,000 18,724 -26,446 20 28,428 17,844 20,326 21,797
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -49,167 -58,294 -65,294
Reference price 2 99.79 60.90 63.11 89.88 90.60 98.66 98.66 98.66
Nbr of stocks (in thousands) 3,329,738 3,330,142 3,330,142 3,332,672 3,333,287 3,283,682 - -
Announcement Date 1/25/22 1/20/23 1/23/24 1/24/25 1/23/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.54x6.12x15.85x1.52% 442B
52.63x18.66x37.44x-.--% 252B
21.6x0.87x15.49x2.14% 190B
29.96x9.48x22.88x0.43% 162B
43.73x12.89x29.14x-.--% 83.12B
33.83x6.56x18.74x1% 77.15B
45.69x2.42x15.79x1.58% 62.11B
28.22x6.38x21.29x1.46% 54.51B
60.69x7.81x34.55x-.--% 49.57B
Average 38.21x 7.91x 23.47x 0.9% 152.43B
Weighted average by Cap. 34.99x 8.43x 22.45x 1.02%

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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