Company Valuation: Heimstaden AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 5,551 6,348 3,813 2,722 2,917 4,080
Change - 14.37% -39.94% -28.6% 7.14% 39.87%
Enterprise Value (EV) 1 70,921 163,263 193,612 193,330 195,329 176,087
Change - 130.21% 18.59% -0.15% 1.03% -9.85%
P/E 1.25x 0.43x -0.82x -0.18x 1.06x 0.62x
PBR 0.25x 0.18x 0.1x 0.15x 0.12x 0.17x
PEG - 0x 0x -0x -0x 0x
Capitalization / Revenue 0.79x 0.63x 0.26x 0.17x 0.17x 0.23x
EV / Revenue 10.1x 16.3x 13x 12x 11.1x 9.74x
EV / EBITDA 18.8x 50.9x 23.6x 22.5x 19.4x 16.3x
EV / EBIT 18.9x 50.9x 23.7x 22.6x 19.5x 16.3x
EV / FCF 53.8x 27.8x -19,606x 125x 189x 51.3x
FCF Yield 1.86% 3.6% -0.01% 0.8% 0.53% 1.95%
Dividend per Share 2 2 2 2 - - -
Rate of return 5.6% 6.01% 10% - - -
EPS 2 28.5 77.45 -24.28 -79.58 14.49 34.31
Distribution rate 7.02% 2.58% -8.24% - - -
Net sales 1 7,048 10,011 14,842 16,139 17,587 18,073
EBITDA 1 3,766 3,210 8,210 8,611 10,060 10,825
EBIT 1 3,749 3,204 8,186 8,571 10,030 10,771
Net income 1 4,431 10,208 -4,628 -15,171 2,763 6,541
Net Debt 1 65,370 156,915 189,799 190,608 192,412 172,007
Reference price 2 35.70 33.30 20.00 14.28 15.30 21.40
Nbr of stocks (in thousands) 155,478 190,634 190,634 190,634 190,634 190,634
Announcement Date 3/18/21 2/28/22 2/24/23 2/26/24 2/28/25 2/27/26
1SEK in Million2SEK
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.34x4.63x12.45x3.53% 40.81B
5.71x0.76x1.6x8.67% 27.77B
17.85x3.95x15.88x1.37% 27.6B
7.94x1.42x7.86x4.46% 26.52B
13.72x3.07x14.71x2.55% 25.38B
8.02x0.89x3.24x2.79% 20.52B
10.21x2x8.25x4.11% 20.52B
13.01x6.39x16.79x1.67% 18.69B
38.23x13.99x35.22x3.11% 18.46B
Average 14.34x 4.12x 12.89x 3.58% 25.14B
Weighted average by Cap. 13.78x 3.85x 12.25x 3.69%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


-40%: Exceptional extension
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