Company Valuation: JM AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,051 11,352 11,450 10,766 8,986 7,476 - -
Change - -59.53% 0.86% -5.97% -16.54% -16.8% - -
Enterprise Value (EV) 1 32,454 17,997 25,817 21,998 19,189 20,230 22,335 24,910
Change - -44.55% 43.45% -14.79% -12.77% 5.43% 10.41% 11.53%
P/E 15.8x 7.35x 26.5x 43.6x 144x 27.3x 13.3x 8.89x
PBR 3.37x 1.27x 1.37x 1.32x 1.13x 0.92x 0.87x 0.81x
PEG - -0.76x -0.4x -1x -1.9x 0x 0x 0.2x
Capitalization / Revenue 1.92x 0.69x 0.83x 0.86x 0.9x 0.64x 0.57x 0.5x
EV / Revenue 2.22x 1.1x 1.86x 1.76x 1.92x 1.74x 1.71x 1.67x
EV / EBITDA 13.9x 8.9x 17.1x 31.8x 58.9x 36.6x 25.4x 20.2x
EV / EBIT 14.6x 8.72x 35.3x 41.4x 64.6x 36x 25.6x 20.3x
EV / FCF -33.2x - 24.5x 6.47x 385x 64.2x -63.6x 90.9x
FCF Yield -3.01% - 4.09% 15.5% 0.26% 1.56% -1.57% 1.1%
Dividend per Share 2 13.5 14 3 3.25 2 2.625 4.75 7
Rate of return 3.3% 8.13% 1.69% 1.95% 1.44% 2.26% 4.1% 6.04%
EPS 2 25.9 23.4 6.7 3.83 0.97 4.253 8.742 13.04
Distribution rate 52.1% 59.8% 44.8% 84.9% 206% 61.7% 54.3% 53.7%
Net sales 1 14,608 16,385 13,851 12,507 9,981 11,607 13,077 14,929
EBITDA 1 2,329 2,021 1,510 692 326 552 878.2 1,232
EBIT 1 2,216 2,064 732 531 297 562 871.4 1,224
Net income 1 1,798 1,575 433 246 63 278 617 907.7
Net Debt 1 4,403 6,645 14,367 11,232 10,203 12,754 14,858 17,434
Reference price 2 408.60 172.10 177.50 166.90 139.30 115.90 115.90 115.90
Nbr of stocks (in thousands) 68,652 65,961 64,505 64,505 64,505 64,505 - -
Announcement Date 2/2/22 2/1/23 1/30/24 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.($)
12.95x1.24x9.57x1.33% 37.76B
11.46x1.33x7.98x0.89% 21.69B
16.44x0.72x11.17x2.51% 18.95B
9.66x0.91x8.57x4.18% 16.84B
16.71x1.71x11.79x-.--% 15.97B
9.51x0.8x8.65x4.38% 13.61B
10.74x1.28x7.75x0.75% 12.59B
12.8x0.79x6.33x3.28% 6.4B
Average 12.54x 1.10x 8.98x 2.16% 17.98B
Weighted average by Cap. 12.69x 1.14x 9.28x 1.93%

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