Company Valuation: Sandvik AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 316,858 236,326 273,582 248,745 377,068 493,099 - -
Change - -25.42% 15.76% -9.08% 51.59% 30.77% - -
Enterprise Value (EV) 1 343,760 280,278 317,057 289,860 411,038 520,709 509,013 492,738
Change - -18.47% 13.12% -8.58% 41.81% 26.68% -2.25% -3.2%
P/E 21.9x 21.1x 17.9x 20.3x 25.7x 23.4x 20.3x 19x
PBR 4.11x 2.91x 3.12x 2.57x 4.05x 4.47x 3.9x 3.46x
PEG - -0.9x 0.5x -1x 1.3x 0.5x 1.3x 2.84x
Capitalization / Revenue 3.2x 2.1x 2.16x 2.02x 3.12x 3.4x 3.01x 2.92x
EV / Revenue 3.47x 2.5x 2.51x 2.36x 3.41x 3.59x 3.11x 2.92x
EV / EBITDA 13.9x 11.1x 10.6x 11x 14.6x 14x 12.5x 11.6x
EV / EBIT 19x 13.3x 13.6x 13.4x 19.1x 17.5x 15.5x 14.3x
EV / FCF 35.7x 40.9x 23.6x 18.4x 26.7x 28.5x 21.6x 18.5x
FCF Yield 2.8% 2.45% 4.24% 5.44% 3.74% 3.5% 4.62% 5.4%
Dividend per Share 2 4.75 5 5.5 5.75 6 7.319 8.273 8.698
Rate of return 1.88% 2.65% 2.52% 2.9% 2% 1.86% 2.1% 2.21%
EPS 2 11.52 8.94 12.18 9.75 11.7 16.78 19.4 20.69
Distribution rate 41.2% 55.9% 45.2% 59% 51.3% 43.6% 42.7% 42%
Net sales 1 99,105 112,332 126,503 122,878 120,680 144,902 163,598 168,792
EBITDA 1 24,649 25,235 29,877 26,401 28,223 37,089 40,801 42,315
EBIT 1 18,116 21,020 23,300 21,635 21,502 29,680 32,914 34,373
Net income 1 14,470 12,854 15,300 12,243 14,690 21,108 24,480 26,109
Net Debt 1 26,902 43,952 43,475 41,115 33,970 27,610 15,914 -360.6
Reference price 2 252.60 188.40 218.10 198.30 300.60 393.10 393.10 393.10
Nbr of stocks (in thousands) 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 - -
Announcement Date 1/20/22 1/20/23 1/25/24 1/23/25 1/27/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.43x3.59x14.04x1.86% 51.44B
12.42x0.99x7.74x4.07% 3.88B
5.64x - - 7.91% 3.77B
7.77x - - - 3.06B
35.91x - - 0.16% 629M
Average 17.03x 2.29x 10.89x 3.5% 12.56B
Weighted average by Cap. 21.04x 3.41x 13.60x 2.37%

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