Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 270,861 326,988 332,382 204,141 210,346 284,891 284,891 -
Change - 20.72% 1.65% -38.58% 3.04% 35.44% 0% -
Enterprise Value (EV) 1 236,365 306,716 297,231 189,986 212,445 281,130 234,798 230,329
Change - 29.76% -3.09% -36.08% 11.82% 32.33% -9.53% -1.9%
P/E ratio 122x 18.6x 14.7x 10.8x -7.95x 8,988x 15.7x 14.3x
PBR 3.27x 3.75x 3.06x 1.51x 2.16x 3.18x 2.8x 2.53x
PEG - 0x 0.5x -0.6x 0x -90x 0x 1.45x
Capitalization / Revenue 1.19x 1.41x 1.43x 0.75x 0.8x 1.21x 1.11x 1.08x
EV / Revenue 1.04x 1.32x 1.28x 0.7x 0.81x 1.13x 0.92x 0.88x
EV / EBITDA 7.58x 8.12x 7.2x 5x 7.06x 5.58x 6.8x 6.25x
EV / EBIT 10.7x 10.5x 9.2x 6.93x 11.7x 11.4x 8.53x 7.76x
EV / FCF 31x 20.3x 8.37x 7.13x 54.8x 6.4x 8.7x 10.2x
FCF Yield 3.23% 4.92% 11.9% 14% 1.83% 15.6% 11.5% 9.76%
Dividend per Share 2 1.5 2 2.5 2.5 2.7 2.85 2.974 3.133
Rate of return 1.84% 2.05% 2.51% 4.11% 4.28% 3.17% 3.48% 3.66%
EPS 2 0.67 5.26 6.81 5.62 -7.94 0.01 5.444 5.981
Distribution rate 224% 38% 36.7% 44.5% -34% 28,500% 54.6% 52.4%
Net sales 1 227,216 232,390 232,314 271,546 263,351 247,880 256,177 263,130
EBITDA 1 31,189 37,788 41,298 37,962 30,084 50,358 34,528 36,835
EBIT 1 22,100 29,100 32,300 27,419 18,093 24,658 27,521 29,690
Net income 1 2,223 17,483 23,000 18,724 -26,446 20 17,407 19,494
Net Debt 1 -34,496 -20,272 -35,151 -14,155 2,099 -18,390 -50,093 -54,562
Reference price 2 81.56 97.64 99.79 60.90 63.11 85.50 85.50 85.50
Nbr of stocks (in thousands) 3,308,683 3,328,108 3,329,738 3,330,142 3,330,142 3,332,672 3,332,672 -
Announcement Date 1/24/20 1/29/21 1/25/22 1/20/23 1/23/24 1/24/25 - -
1SEK in Million2SEK
Estimates

P/E ratio, Detailed evolution

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P/E ratio (Y) EV / Sales (Y) EV / EBITDA (Y) Yield (Y) Capi.($)
118.15x1.04x7.61x3.28% 26.51B
25.6x4.85x12.81x2.5% 258B
50.48x18.28x38.32x-.--% 135B
34.04x6.66x20.84x0.9% 73.14B
18.78x0.71x13.54x2.79% 62.61B
30.11x6.24x22.77x1.41% 40.83B
21.65x2.62x13.64x2.78% 40.15B
23.8x1.13x6.66x2.8% 26.92B
20.06x1.24x10.82x1.78% 25.37B
35.48x - - - 20.64B
Average 37.81x 4.75x 16.33x 2.03% 70.92B
Weighted average by Cap. 34.11x 6.82x 18.84x 1.83%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield