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 27,983 - -
Change - -39.16% 46.51% -6.21% -3.39% 33.08% - -
Enterprise Value (EV) 1 26,384 16,140 23,496 25,059 23,381 29,990 29,439 28,798
Change - -38.83% 45.58% 6.65% -6.7% 28.27% -1.84% -2.18%
P/E 73.7x 31.2x 40.8x 68.4x 48.4x 41x 32.7x 28.9x
PBR 129x 10.4x 13.2x 7.81x 6.13x 7.01x 6.12x 5.36x
PEG - 0.7x 3.4x -1.4x 1.3x 0.7x 1.3x 2.2x
Capitalization / Revenue 13.2x 6.32x 7.67x 7.12x 5.88x 6.88x 6.06x 5.64x
EV / Revenue 13.4x 6.44x 7.77x 8.19x 6.54x 7.37x 6.37x 5.8x
EV / EBITDA 48.1x 21.2x 26.8x 31.5x 22x 23.9x 20.6x 18.5x
EV / EBIT 59.2x 24.7x 31.2x 49.8x 30.7x 30.5x 25.5x 22.6x
EV / FCF 64.7x 248x 52.8x 53.2x 31.4x 44.3x 34.1x 28.9x
FCF Yield 1.55% 0.4% 1.89% 1.88% 3.18% 2.26% 2.93% 3.46%
Dividend per Share 2 3 4 4.4 4.4 4.8 5.418 6.316 7.542
Rate of return 0.54% 1.18% 0.88% 1.01% 1.15% 0.97% 1.13% 1.35%
EPS 2 7.57 10.89 12.19 6.34 8.66 13.6 17.06 19.29
Distribution rate 39.6% 36.7% 36.1% 69.4% 55.4% 39.8% 37% 39.1%
Net sales 1 1,972 2,506 3,025 3,059 3,577 4,069 4,620 4,965
EBITDA 1 548 760 877 796 1,064 1,254 1,432 1,553
EBIT 1 446 653 753 503 762 982.8 1,155 1,274
Net income 1 355 508 571 310 435 684.3 858.1 970.5
Net Debt 1 347 300 289 3,293 2,354 2,007 1,456 814.5
Reference price 2 558.00 339.60 497.40 433.80 419.00 557.50 557.50 557.50
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.($)
40.72x7.33x23.77x0.98% 2.82B
25.95x5.81x15.06x1.6% 420B
53.81x19.22x38.56x-.--% 259B
20.92x0.84x15.3x2.17% 187B
30.01x9.56x23.09x0.41% 163B
44.61x13.15x29.55x-.--% 84.83B
33.05x6.44x18.66x1.06% 75.58B
43.03x2.35x15.21x1.63% 59.48B
28.42x6.43x21.45x1.45% 54.9B
63.55x8.22x36.35x-.--% 52.26B
Average 38.41x 7.94x 23.70x 0.93% 135.87B
Weighted average by Cap. 34.93x 8.59x 22.74x 1.03%

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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