Company Valuation: Evolution AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,876 19,433 23,026 15,372 11,605 14,277 - -
Change - -27.69% 18.49% -33.24% -24.5% 23.02% - -
Enterprise Value (EV) 1 26,522 18,980 22,120 14,664 10,878 13,410 13,269 12,752
Change - -28.44% 16.55% -33.71% -25.81% 23.27% -1.05% -3.9%
P/E 46x 23.5x 21.9x 12.6x 11.1x 13.9x 12.3x 11.3x
PBR 8.42x 5.62x 5.74x 3.87x 2.85x 3.58x 3.37x 3.08x
PEG - 0.6x 0.8x 0.6x -1x 4.96x 0.9x 1.29x
Capitalization / Revenue 25.1x 13.3x 12.8x 7.45x 5.62x 6.8x 6.4x 6.02x
EV / Revenue 24.8x 13x 12.3x 7.11x 5.26x 6.39x 5.95x 5.38x
EV / EBITDA 36.1x 18.8x 17.5x 10.4x 7.97x 9.71x 9.04x 8.18x
EV / EBIT 40.6x 20.9x 19.4x 10.3x 8.65x 11.1x 10.3x 9.3x
EV / FCF 46.9x 24.3x 20.6x 12.6x 9.71x 12.6x 12x 10.8x
FCF Yield 2.13% 4.11% 4.86% 7.94% 10.3% 7.95% 8.33% 9.23%
Dividend per Share 2 1.42 2 2.65 2.8 - 2.697 3.062 3.397
Rate of return 1.13% 2.19% 2.45% 3.76% - 3.6% 4.09% 4.53%
EPS 2 2.73 3.88 4.93 5.91 5.23 5.376 6.09 6.623
Distribution rate 52% 51.5% 53.8% 47.4% - 50.2% 50.3% 51.3%
Net sales 1 1,069 1,457 1,799 2,063 2,067 2,098 2,231 2,372
EBITDA 1 734.6 1,008 1,267 1,411 1,366 1,381 1,467 1,559
EBIT 1 654 908.1 1,143 1,420 1,257 1,210 1,288 1,371
Net income 1 605.4 843.4 1,071 1,244 1,062 1,028 1,088 1,153
Net Debt 1 -353.6 -453 -906.3 -708 -726.9 -866.6 -1,008 -1,525
Reference price 2 125.58 91.15 108.15 74.42 58.25 74.96 74.96 74.96
Nbr of stocks (in thousands) 214,010 213,205 212,911 206,562 199,227 190,466 - -
Announcement Date 2/9/22 2/2/23 2/1/24 1/30/25 2/5/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.67x6.13x14.37x1.65% 25.87B
14.43x2.43x8.47x5.11% 19.18B
-129.67x1.52x10.29x-.--% 16.49B
13.94x6.39x9.71x3.6% 16.63B
15.25x2.49x9.24x7.05% 14.58B
233.14x1.92x17.67x-.--% 12.02B
31.31x3.64x17.31x3.37% 8.08B
16.31x2.41x8.83x2.23% 7.03B
Average 27.30x 3.37x 11.99x 2.87% 14.98B
Weighted average by Cap. 19.82x 3.69x 11.80x 2.89%

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