Company Valuation: Klaveness Combination Carriers ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 285.1 346.3 518.4 394.9 467.9 607.7 - -
Change - 21.46% 49.67% -23.82% 18.48% 29.88% - -
Enterprise Value (EV) 1 586 600.9 697.2 563.1 687.3 927.2 879.3 856.7
Change - 2.55% 16.03% -19.23% 22.04% 34.91% -5.17% -2.56%
P/E 11.7x 5.71x 5.64x 4.85x 14.1x 6.76x 9.82x 9.47x
PBR 1.04x 1.16x 1.43x 1.1x 1.28x 1.54x 1.54x 1.54x
PEG - 0x 0.2x -0.4x -0.2x 0x -0.3x 2.54x
Capitalization / Revenue 2.46x 2.1x 2.63x 2.06x 3.24x 2.39x 2.59x 2.5x
EV / Revenue 5.06x 3.65x 3.54x 2.93x 4.76x 3.65x 3.75x 3.52x
EV / EBITDA 8.73x 5.62x 5.17x 4.45x 8.62x 6.05x 6.87x 6.76x
EV / EBIT 15.3x 7.95x 6.76x 5.86x 15.3x 8.52x 10.8x 10.7x
EV / FCF -8x 6.28x 5.12x 5.22x -403x 61.8x 9.16x 9.31x
FCF Yield -12.5% 15.9% 19.5% 19.1% -0.25% 1.62% 10.9% 10.7%
Dividend per Share 2 0.22 0.81 1.25 1.05 0.285 1.34 1.127 1.073
Rate of return 4.04% 12.2% 14.6% 16% 3.61% 13.1% 11% 10.5%
EPS 2 0.464 1.16 1.52 1.35 0.56 1.516 1.043 1.082
Distribution rate 47.4% 69.8% 82.2% 77.8% 50.9% 88.4% 108% 99.2%
Net sales 1 115.9 164.6 196.8 191.9 144.4 254 234.2 243.5
EBITDA 1 67.1 107 134.9 126.5 79.77 153.2 128 126.7
EBIT 1 38.4 75.61 103.1 96.07 45.02 108.9 81.21 80.01
Net income 1 22.6 60.87 86.9 81.41 33.41 90.73 61.99 64.23
Net Debt 1 300.8 254.6 178.9 168.2 219.4 319.5 271.6 249
Reference price 2 5.45 6.62 8.58 6.55 7.89 10.24 10.24 10.24
Nbr of stocks (in thousands) 52,332 52,332 60,418 60,284 59,290 59,318 - -
Announcement Date 2/18/22 2/16/23 2/16/24 2/14/25 2/13/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.61x1.2x4.11x9.85% 13.91B
9.88x1.58x5.37x7.4% 6.57B
46.08x17.44x25.1x1.98% 5.13B
15.72x - - - 4.86B
9.16x2.81x7.54x10.68% 3.54B
7.54x3.32x4.98x12.4% 3.22B
8.36x0.86x2.65x2.56% 3.24B
5.34x - -171.55x12.93% 2.67B
4.66x2.34x3.14x - 2.56B
Average 12.71x 4.22x -14.83x 8.26% 5.08B
Weighted average by Cap. 12.99x 3.82x -4.33x 8.26%

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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