Company Valuation: NP3 AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 19,736 10,845 13,397 15,391 15,949 13,868 - -
Change - -45.05% 23.53% 14.88% 3.63% -13.05% - -
Enterprise Value (EV) 1 29,943 22,876 25,157 27,881 29,889 29,665 29,709 29,665
Change - -23.6% 9.97% 10.83% 7.21% -0.75% 0.15% -0.15%
P/E - - - 17.6x - 11.4x 13.1x 12.7x
PBR 3.6x 1.69x 2.03x 1.9x 1.8x 1.31x 1.2x 1.1x
PEG - - - - - - -1x 4.08x
Capitalization / Revenue 15.9x 6.99x 7.46x 7.73x 7.01x 5.49x 5.17x 4.96x
EV / Revenue 24.2x 14.7x 14x 14x 13.1x 11.8x 11.1x 10.6x
EV / EBITDA 29.6x 21.2x 19.7x - 18.3x 16.2x 15.1x 14.4x
EV / EBIT - 18.6x 20x 19.4x 17.7x 16x 15x 14.4x
EV / FCF - - - - - -50.3x 53.2x 41.1x
FCF Yield - - - - - -1.99% 1.88% 2.43%
Dividend per Share 2 4.3 5 5.475 5.2 6.4 6.855 7.248 7.613
Rate of return 1.19% 2.52% 2.35% 2.08% 2.47% 3.05% 3.22% 3.38%
EPS 2 - - - 14.17 - 19.65 17.12 17.65
Distribution rate - - - 36.7% - 34.9% 42.3% 43.1%
Net sales 1 1,238 1,551 1,797 1,992 2,274 2,524 2,682 2,799
EBITDA 1 1,013 1,081 1,279 - 1,634 1,826 1,962 2,065
EBIT 1 - 1,232 1,259 1,438 1,684 1,852 1,977 2,065
Net income 1 2,017 1,224 -62 914 1,276 1,310 1,172 1,282
Net Debt 1 10,207 12,031 11,760 12,490 13,940 15,797 15,841 15,797
Reference price 2 362.50 198.60 233.00 250.00 259.00 225.00 225.00 225.00
Nbr of stocks (in thousands) 54,445 54,608 57,497 61,562 61,581 61,635 - -
Announcement Date 2/11/22 4/6/23 2/9/24 2/7/25 2/6/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 11.75x16.25x3.05% 1.39B
13.96x4.53x12.19x3.63% 39.75B
5.77x0.79x1.62x8.53% 28.2B
17.93x3.96x15.92x1.37% 27.75B
8.01x1.43x7.9x4.41% 26.78B
13.78x3.08x14.74x2.54% 25.49B
8.35x0.93x3.37x2.68% 21.36B
10.35x2.03x8.37x4.06% 20.8B
12.99x6.38x16.78x1.68% 18.67B
37.66x13.81x34.76x3.15% 18.18B
Average 14.31x 4.87x 13.19x 3.51% 22.84B
Weighted average by Cap. 13.67x 3.84x 12.14x 3.68%

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