Company Valuation: NOBA AB ADR

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,170 3,584 1,851 2,588 2,901 2,086 - -
Change - -60.92% -48.36% 39.85% 12.06% -28.08% - -
Enterprise Value (EV) 1 11,184 7,564 7,234 7,384 8,157 5,474 5,320 4,944
Change - -32.37% -4.36% 2.08% 10.46% -32.89% -2.8% -7.07%
P/E 13x -2,130x -5.31x -1.56x -0.89x -28.4x 7.43x 5.38x
PBR 1.87x 0.76x 0.43x 0.49x 3.06x 0.92x 0.82x 0.71x
PEG - 21x -0x -0.1x -0x 0.3x -0x 0.1x
Capitalization / Revenue 0.67x 0.24x 0.14x 0.25x 0.33x 0.37x 0.35x 0.34x
EV / Revenue 0.82x 0.51x 0.54x 0.7x 0.92x 0.97x 0.9x 0.79x
EV / EBITDA 6.18x 6.94x 9.38x 15.7x 13.6x 7.31x 5.48x 4.49x
EV / EBIT 11.1x 15.2x -73.1x 90.1x 35.9x 13.1x 9.88x 7.74x
EV / FCF 16.6x -9.44x -9.19x -10.9x -627x -72x 17.6x 9.33x
FCF Yield 6.01% -10.6% -10.9% -9.17% -0.16% -1.39% 5.68% 10.7%
Dividend per Share 2 25 - - - - - - 0.285
Rate of return 4.59% - - - - - - 2.07%
EPS 2 41.8 -0.1 -20.7 -24.6 -48.3 -0.485 1.855 2.56
Distribution rate 59.8% - - - - - - 11.1%
Net sales 1 13,719 14,929 13,373 10,538 8,877 5,655 5,930 6,226
EBITDA 1 1,809 1,090 771 470 600 748.6 971.4 1,100
EBIT 1 1,009 497 -99 82 227 416.6 538.2 638.6
Net income 1 706 -2 -347 -1,343 -3,253 -108 281.4 387.8
Net Debt 1 2,014 3,980 5,383 4,796 5,256 3,388 3,234 2,858
Reference price 2 545.00 213.00 110.00 38.46 43.10 13.78 13.78 13.78
Nbr of stocks (in thousands) 16,825 16,825 16,825 67,301 67,301 151,428 - -
Announcement Date 2/1/22 2/9/23 2/20/24 2/4/25 2/5/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.7x1.84x8.38x3.02% 5.49B
21x - - 0.68% 372M
-28.4x0.97x7.31x-.--% 212M
8.61x0.71x6.17x6.38% 104M
Average 3.98x 1.17x 7.29x 2.52% 1.54B
Weighted average by Cap. 13.50x 1.79x 8.30x 2.83%

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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