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 1 285.1 346.3 518.4 394.9 467.9 604.8 - -
Change - 21.46% 49.67% -23.82% 18.48% 29.26% - -
Enterprise Value (EV) 1 586 600.9 697.2 563.1 687.3 924.3 889.8 853.8
Change - 2.55% 16.03% -19.23% 22.04% 34.48% -3.72% -4.05%
P/E 11.7x 5.71x 5.64x 4.85x 14.1x 6.72x 9.77x 9.42x
PBR 1.04x 1.16x 1.43x 1.1x 1.28x 1.53x 1.53x 1.53x
PEG - 0x 0.2x -0.4x -0.2x 0x -0.3x 2.53x
Capitalization / Revenue 2.46x 2.1x 2.63x 2.06x 3.24x 2.38x 2.58x 2.48x
EV / Revenue 5.06x 3.65x 3.54x 2.93x 4.76x 3.64x 3.8x 3.51x
EV / EBITDA 8.73x 5.62x 5.17x 4.45x 8.62x 6.03x 6.95x 6.74x
EV / EBIT 15.3x 7.95x 6.76x 5.86x 15.3x 8.49x 11x 10.7x
EV / FCF -8x 6.28x 5.12x 5.22x -403x 61.6x 9.27x 9.28x
FCF Yield -12.5% 15.9% 19.5% 19.1% -0.25% 1.62% 10.8% 10.8%
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% 11.1% 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 1 300.8 254.6 178.9 168.2 219.4 319.5 285.1 249
Reference price 2 5.45 6.62 8.58 6.55 7.89 10.20 10.20 10.20
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.79x3.66x6.07x13.02% 610M
7.34x1.16x3.97x10.22% 13.37B
9.61x1.54x5.26x7.62% 6.34B
44.49x17.02x24.48x2.05% 4.96B
14.74x - - - 4.54B
8.61x2.7x7.16x11.54% 3.27B
7.75x3.44x5.45x12.98% 3.12B
7.47x0.81x2.49x2.86% 2.9B
5.42x - -174.24x18.46% 2.64B
5.09x2.34x3.36x - 2.56B
Average 11.73x 4.08x -12.89x 9.85% 4.43B
Weighted average by Cap. 12.46x 3.76x -4.85x 9.1%

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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