Company Valuation: Sandvik AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 316,858 236,326 273,582 248,745 377,068 489,336 - -
Change - -25.42% 15.76% -9.08% 51.59% 29.77% - -
Enterprise Value (EV) 1 343,760 280,278 317,057 289,860 411,038 516,946 505,250 488,975
Change - -18.47% 13.12% -8.58% 41.81% 25.77% -2.26% -3.22%
P/E 21.9x 21.1x 17.9x 20.3x 25.7x 23.3x 20.1x 18.9x
PBR 4.11x 2.91x 3.12x 2.57x 4.05x 4.44x 3.87x 3.44x
PEG - -0.9x 0.5x -1x 1.3x 0.5x 1.3x 2.83x
Capitalization / Revenue 3.2x 2.1x 2.16x 2.02x 3.12x 3.38x 2.99x 2.9x
EV / Revenue 3.47x 2.5x 2.51x 2.36x 3.41x 3.57x 3.09x 2.9x
EV / EBITDA 13.9x 11.1x 10.6x 11x 14.6x 13.9x 12.4x 11.6x
EV / EBIT 19x 13.3x 13.6x 13.4x 19.1x 17.4x 15.4x 14.2x
EV / FCF 35.7x 40.9x 23.6x 18.4x 26.7x 28.3x 21.5x 18.4x
FCF Yield 2.8% 2.45% 4.24% 5.44% 3.74% 3.53% 4.66% 5.44%
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% 1.88% 2.12% 2.23%
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 2 252.60 188.40 218.10 198.30 300.60 390.10 390.10 390.10
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.($)
23.25x3.57x13.94x1.88% 51.15B
13x1.04x8.28x4.16% 3.97B
5.42x - - 8.22% 3.62B
7.41x - - - 2.92B
34.23x - - 0.16% 601M
Average 16.66x 2.30x 11.11x 3.61% 12.45B
Weighted average by Cap. 20.92x 3.39x 13.53x 2.4%

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