Company Valuation: Real AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 248.3 248.5 341.5 307.3 210.2 302.9
Change - 0.06% 37.44% -10% -31.59% 44.07%
Enterprise Value (EV) 1 589.3 739.7 892 975.9 921.7 985.4
Change - 25.51% 20.59% 9.41% -5.55% 6.9%
P/E 2.87x 4.13x 5.56x 21.6x 3.91x 28.6x
PBR 512x 412x 0.63x 0.56x 0.35x 0.49x
PEG - -0.1x -0.1x -0.3x 0x -0.4x
Capitalization / Revenue 3.73x 3.09x 2.59x 1.92x 1.27x 1.78x
EV / Revenue 8.86x 9.2x 6.77x 6.11x 5.56x 5.79x
EV / EBITDA 20.6x 22.3x 17.6x 13.5x 12.9x 17.8x
EV / EBIT 20.8x 22.5x 17.7x 13.6x 13x 18x
EV / FCF -36.1x 30x -5.51x -13.1x -18x -22.1x
FCF Yield -2.77% 3.34% -18.1% -7.64% -5.54% -4.53%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 4.873 3.388 2.068 0.4782 1.808 0.357
Distribution rate - - - - - -
Net sales 1 66.5 80.4 131.7 159.7 165.9 170.3
EBITDA 1 28.6 33.2 50.8 72.1 71.2 55.4
EBIT 1 28.4 32.9 50.3 71.7 70.8 54.8
Net income 1 65.4 60.1 57.3 14.2 53.7 10.6
Net Debt 1 341 491.2 550.5 668.6 711.5 682.5
Reference price 2 14.000 14.000 11.500 10.350 7.080 10.200
Nbr of stocks (in thousands) 8,867,895 8,873,216 29,694 29,694 29,694 29,694
Announcement Date 4/19/21 4/13/22 4/18/23 4/23/24 4/23/25 4/28/26
1SEK in Million2SEK
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 30.49M
16.01x5.02x13.53x3.17% 45.58B
21.11x4.3x17.62x1.19% 31.22B
8.85x1.49x7.65x3.98% 31.49B
5.77x0.68x1.39x8.65% 27.82B
14.33x3.11x14.9x2.45% 25.66B
15.38x6.88x18.47x1.39% 21.75B
8.96x2.31x7.11x4.07% 21.13B
Average 12.92x 3.40x 11.52x 3.56% 25.59B
Weighted average by Cap. 13.29x 3.46x 11.63x 3.55%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA