Company Valuation: HMS Networks AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,037 15,840 23,207 21,766 21,027 25,197 - -
Change - -39.16% 46.51% -6.21% -3.39% 19.83% - -
Enterprise Value (EV) 1 26,384 16,140 23,496 25,059 23,381 27,112 26,563 25,933
Change - -38.83% 45.58% 6.65% -6.7% 15.95% -2.02% -2.37%
P/E 73.7x 31.2x 40.8x 68.4x 48.4x 36.8x 29.6x 26.5x
PBR 129x 10.4x 13.2x 7.81x 6.13x 6.29x 5.5x 4.83x
PEG - 0.7x 3.4x -1.4x 1.3x 0.6x 1.2x 2.2x
Capitalization / Revenue 13.2x 6.32x 7.67x 7.12x 5.88x 6.21x 5.54x 5.15x
EV / Revenue 13.4x 6.44x 7.77x 8.19x 6.54x 6.68x 5.84x 5.3x
EV / EBITDA 48.1x 21.2x 26.8x 31.5x 22x 21.7x 18.8x 17x
EV / EBIT 59.2x 24.7x 31.2x 49.8x 30.7x 27.7x 23.3x 20.7x
EV / FCF 64.7x 248x 52.8x 53.2x 31.4x 37x 30.9x 26.3x
FCF Yield 1.55% 0.4% 1.89% 1.88% 3.18% 2.7% 3.24% 3.81%
Dividend per Share 2 3 4 4.4 4.4 4.8 5.418 6.344 7.525
Rate of return 0.54% 1.18% 0.88% 1.01% 1.15% 1.08% 1.26% 1.5%
EPS 2 7.57 10.89 12.19 6.34 8.66 13.66 16.95 18.97
Distribution rate 39.6% 36.7% 36.1% 69.4% 55.4% 39.7% 37.4% 39.7%
Net sales 1 1,972 2,506 3,025 3,059 3,577 4,057 4,547 4,889
EBITDA 1 548 760 877 796 1,064 1,247 1,410 1,528
EBIT 1 446 653 753 503 762 978.5 1,139 1,254
Net income 1 355 508 571 310 435 686.9 852.2 954.4
Net Debt 1 347 300 289 3,293 2,354 1,914 1,366 735.4
Reference price 2 558.00 339.60 497.40 433.80 419.00 502.00 502.00 502.00
Nbr of stocks (in thousands) 46,661 46,643 46,656 50,175 50,184 50,194 - -
Announcement Date 1/26/22 1/26/23 1/26/24 1/28/25 1/27/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.71x6.84x22.26x1.05% 2.69B
33.76x7.07x18.27x1.51% 433B
49.91x17.63x35.38x-.--% 239B
21.22x0.85x15.22x2.18% 186B
27.74x9.15x22.1x0.46% 150B
35.65x6.88x19.66x0.95% 81.3B
40.99x12.14x27.52x-.--% 77.94B
41.02x2.16x14.07x1.75% 55.69B
27.49x6.2x20.74x1.5% 53.07B
69.05x8.06x37.11x-.--% 51.01B
Average 38.45x 7.70x 23.23x 0.94% 132.85B
Weighted average by Cap. 36.18x 8.42x 22.63x 1.04%

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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