Company Valuation: Essity AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 207,509 191,871 175,494 205,499 181,162 177,290 - -
Change - -7.54% -8.54% 17.1% -11.84% -2.14% - -
Enterprise Value (EV) 1 262,942 254,740 229,197 236,268 207,705 206,270 203,235 199,404
Change - -3.12% -10.03% 3.09% -12.09% -0.69% -1.47% -1.89%
P/E 24.1x 34.5x 18.4x 9.91x 14.4x 15.2x 13.3x 12.3x
PBR 3.46x 2.85x 2.48x 2.34x 2.13x 1.93x 1.8x 1.67x
PEG - -1x 0.3x 0x -0.4x -2.49x 0.9x 1.5x
Capitalization / Revenue 1.7x 1.23x 1.19x 1.41x 1.31x 1.26x 1.21x 1.18x
EV / Revenue 2.16x 1.63x 1.56x 1.62x 1.5x 1.46x 1.39x 1.33x
EV / EBITDA 13.1x 12.5x 9.16x 8.91x 8.07x 8.25x 7.65x 7.14x
EV / EBIT 20.5x 21.3x 12.9x 12.3x 11.2x 11.9x 10.7x 9.88x
EV / FCF 36x 43x 18.7x 24.2x 24.8x 19.3x 16.9x 15.2x
FCF Yield 2.78% 2.33% 5.33% 4.14% 4.03% 5.18% 5.93% 6.59%
Dividend per Share 2 7 7.25 7.75 8.25 8.75 9.171 9.733 10.27
Rate of return 2.37% 2.65% 3.1% 2.79% 3.3% 3.51% 3.72% 3.93%
EPS 2 12.27 7.93 13.6 29.83 18.37 17.25 19.7 21.32
Distribution rate 57% 91.4% 57% 27.7% 47.6% 53.2% 49.4% 48.2%
Net sales 1 121,867 156,173 147,147 145,546 138,494 141,094 146,465 150,017
EBITDA 1 20,040 20,390 25,024 26,517 25,722 24,993 26,581 27,941
EBIT 1 12,828 11,942 17,789 19,234 18,531 17,279 19,042 20,181
Net income 1 8,620 5,567 9,554 20,888 12,656 11,708 13,217 14,219
Net Debt 1 55,433 62,869 53,703 30,769 26,543 28,980 25,945 22,114
Reference price 2 295.40 273.30 250.00 295.70 265.20 261.60 261.60 261.60
Nbr of stocks (in thousands) 702,342 702,342 702,342 694,998 683,049 677,842 - -
Announcement Date 1/26/22 1/26/23 1/25/24 1/23/25 1/22/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.51x4.11x15.02x3% 340B
18.22x2.71x11.94x3.55% 133B
23.79x3.57x15.01x2.43% 69.73B
40.21x6.46x28.01x2.33% 47.31B
18.76x2.65x11.04x4.74% 34.21B
31.51x2.5x13.86x1.71% 33.8B
22.47x1.64x10.48x2.25% 20.05B
19.59x1.24x8.12x1.34% 18.58B
15.17x1.46x8.25x3.51% 17.98B
Average 23.47x 2.93x 13.53x 2.76% 79.42B
Weighted average by Cap. 22.51x 3.59x 14.59x 2.97%

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

-40%: Exceptional extension
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