Company Valuation: Holmen AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 70,968 67,509 67,704 63,898 54,434 45,933 - -
Change - -4.87% 0.29% -5.62% -14.81% -15.62% - -
Enterprise Value (EV) 1 75,069 69,654 69,573 67,295 59,413 50,724 51,053 50,974
Change - -7.21% -0.12% -3.27% -11.71% -14.63% 0.65% -0.15%
P/E 23.5x 11.4x 18.5x 22.6x 19.2x 19.5x 18.2x 17.6x
PBR 1.5x 1.18x 1.2x 1.13x - 0.84x 0.81x 0.79x
PEG - 0.1x -0.5x -1x 6.91x -1.3x 2.56x 5.2x
Capitalization / Revenue 3.64x 2.82x 2.97x 2.81x 2.47x 2.11x 2.1x 2.09x
EV / Revenue 3.85x 2.91x 3.05x 2.96x 2.69x 2.33x 2.33x 2.32x
EV / EBITDA 14.1x 8.09x 11.4x 13.2x 12.6x 11.4x 10.9x 10.6x
EV / EBIT 18.5x 9.59x 14.6x 18.1x 18.2x 16.3x 15.2x 14.6x
EV / FCF 51.6x 17.1x 17x 56.4x 34.7x 20x 25x 26.2x
FCF Yield 1.94% 5.86% 5.89% 1.77% 2.88% 5% 4% 3.82%
Dividend per Share 2 7.5 8 8.5 9 9.5 9.733 9.859 10.1
Rate of return 1.73% 1.93% 2% 2.22% 2.68% 3.17% 3.21% 3.29%
EPS 2 18.5 36.3 23 18 18.5 15.73 16.85 17.42
Distribution rate 40.5% 22% 37% 50% 51.4% 61.9% 58.5% 58%
Net sales 1 19,479 23,952 22,795 22,759 22,056 21,730 21,882 21,968
EBITDA 1 5,322 8,607 6,114 5,110 4,733 4,434 4,669 4,800
EBIT 1 4,061 7,262 4,755 3,721 3,270 3,110 3,350 3,480
Net income 1 3,004 5,874 3,697 2,861 2,879 2,370 2,534 2,606
Net Debt 1 4,101 2,145 1,869 3,397 4,979 4,791 5,120 5,041
Reference price 2 434.70 413.90 425.70 406.20 354.40 307.20 307.20 307.20
Nbr of stocks (in thousands) 161,926 162,002 159,222 158,108 154,285 150,435 - -
Announcement Date 1/28/22 1/31/23 1/31/24 1/31/25 1/30/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.31x1.55x9.26x6.4% 14.08B
5.57x2.25x5.27x3.72% 10.17B
18.94x0.84x10.99x4.3% 4.37B
9.82x2.19x6.02x5.57% 4.22B
16.29x1.04x6.61x1.29% 2.91B
14.18x1.67x7.67x6.64% 2.57B
10.01x - - 3.51% 1.97B
4.16x0.86x4.06x2.67% 1.88B
-118.36x14.94x-369.44x0.17% 1.67B
Average -2.79x 3.17x -39.94x 3.81% 4.87B
Weighted average by Cap. 6.76x 2.18x -7.45x 4.64%

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