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 1 285.1 346.3 518.4 394.9 467.9 620.4 - -
Change - 21.46% 49.67% -23.82% 18.48% 32.59% - -
Enterprise Value (EV) 1 586 600.9 697.2 563.1 687.3 939.8 905.4 869.4
Change - 2.55% 16.03% -19.23% 22.04% 36.75% -3.66% -3.98%
P/E 11.7x 5.71x 5.64x 4.85x 14.1x 6.9x 10x 9.67x
PBR 1.04x 1.16x 1.43x 1.1x 1.28x 1.57x 1.57x 1.57x
PEG - 0x 0.2x -0.4x -0.2x 0x -0.3x 2.6x
Capitalization / Revenue 2.46x 2.1x 2.63x 2.06x 3.24x 2.44x 2.65x 2.55x
EV / Revenue 5.06x 3.65x 3.54x 2.93x 4.76x 3.7x 3.87x 3.57x
EV / EBITDA 8.73x 5.62x 5.17x 4.45x 8.62x 6.13x 7.08x 6.86x
EV / EBIT 15.3x 7.95x 6.76x 5.86x 15.3x 8.63x 11.1x 10.9x
EV / FCF -8x 6.28x 5.12x 5.22x -403x 62.7x 9.43x 9.45x
FCF Yield -12.5% 15.9% 19.5% 19.1% -0.25% 1.6% 10.6% 10.6%
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% 12.8% 10.8% 10.3%
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 10.46 10.46 10.46
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.($)
6.78x3.66x6.06x13.04% 610M
7.47x1.18x4.04x10.05% 13.61B
9.68x1.55x5.29x7.56% 6.38B
45.54x17.3x24.89x2.01% 5.07B
14.53x - - - 4.47B
8.52x2.67x7.09x11.66% 3.23B
7.96x0.84x2.58x2.69% 3.08B
7.52x3.35x5.31x13.39% 3.03B
4.98x2.29x3.29x - 2.5B
4.12x2.58x4.07x0.31% 2.23B
Average 11.71x 3.93x 6.96x 7.59% 4.42B
Weighted average by Cap. 12.66x 3.74x 7.12x 7.79%

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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