Company Valuation: NOTE AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2023 2024 2025 2026 2027
Market Cap 1 1,691 6,603 4,304 4,290 4,810 4,810 -
Change - 290.47% - -0.34% 12.14% 0% -
Enterprise Value (EV) 1 1,691 6,603 4,304 4,509 5,720 6,126 5,894
Change - 290.47% - 4.75% 26.87% 14.92% -3.79%
P/E Ratio 14.7x 34.4x 13.5x 17.2x 18.4x 14.8x 12x
PBR - - - 2.57x 3.15x 2.44x 2.1x
PEG - 0.5x - -0.8x 1.2x 0.8x 0.5x
Capitalization / Revenue - - - 1.1x 1.36x 1.01x 0.89x
EV / Revenue - - - 1.16x 1.5x 1.29x 1.1x
EV / EBITDA - - - 9.51x 11.3x 9.39x 7.81x
EV / EBIT - - - 12.8x 15x 12.5x 10.4x
EV / FCF - - - - 15.8x 27.3x 18.1x
FCF Yield - - - - 6.34% 3.66% 5.54%
Dividend per Share 2 - - - - 4.64 1.41 1.77
Rate of return - - - - 2.75% 0.84% 1.05%
EPS 2 4.05 6.72 11.04 8.61 9.89 11.38 14.06
Distribution rate - - - - 48.6% 12.4% 12.6%
Net sales 1 - - - 3,901 3,814 4,766 5,383
EBITDA 1 - - - 474 504 652.1 754.5
EBIT 1 - - - 352 381 488.4 566
Net income 1 116 194 320 248 281 325 401.1
Net Debt 1 - - - 219 530 1,316 1,084
Reference price 2 59.60 231.00 148.50 148.00 168.50 168.50 168.50
Nbr of stocks (in thousands) 28,373 28,584 28,984 28,984 28,549 28,549 -
Announcement Date 6/18/21 1/28/22 3/22/24 1/27/25 1/26/26 - -
1SEK in Million2SEK
Estimates

P/E Ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.64x1.4x10.72x2.75% 504M
61.38x9.74x49.33x1.3% 206B
72.35x8.96x17.18x-.--% 93.85B
55.62x - - 0.18% 56.76B
56.72x11.08x41.9x0.85% 57.67B
32.67x9.58x27.39x1.29% 47.23B
59.69x7.42x29.33x0.74% 42.85B
7911.11x75.24x2365.72x - 42.04B
50.19x8.36x34.19x0.89% 37.82B
48.91x5.35x27.56x0.97% 36.28B
Average 836.63x 15.24x 289.26x 1% 62.09B
Weighted average by Cap. 589.83x 14.06x 210.04x 0.85%

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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