Company Valuation: Securitas AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 45,445 49,821 56,478 78,432 84,333 86,110 - -
Change - 9.63% 13.36% 38.87% 7.52% 2.11% - -
Enterprise Value (EV) 1 59,996 90,355 94,008 116,355 115,634 114,918 111,714 108,186
Change - 50.6% 4.04% 23.77% -0.62% -0.62% -2.79% -3.16%
P/E 14.5x 9.45x 44x 15.2x 16.5x 12.4x 11.4x 10.7x
PBR 2.19x 1.37x 1.54x 1.84x 2.16x 1.98x 1.81x 1.69x
PEG - 1.33x -0.6x 0x -18.58x 0.3x 1.35x 1.47x
Capitalization / Revenue 0.42x 0.37x 0.36x 0.48x 0.54x 0.57x 0.55x 0.53x
EV / Revenue 0.56x 0.68x 0.6x 0.72x 0.75x 0.76x 0.71x 0.66x
EV / EBITDA 7.15x 8.41x 7.13x 8.15x 7.69x 7.59x 6.98x 6.45x
EV / EBIT 10.5x 11.9x 9.77x 11x 10.6x 10.4x 9.48x 8.67x
EV / FCF 15x 26.4x 19x 22.9x 16.9x 17.1x 14.9x 13.3x
FCF Yield 6.67% 3.79% 5.25% 4.36% 5.91% 5.84% 6.69% 7.5%
Dividend per Share 2 4.4 3.45 3.8 4.5 5.3 6.016 6.509 6.935
Rate of return 3.53% 3.97% 3.85% 3.29% 3.6% 4% 4.33% 4.61%
EPS 2 8.59 9.2 2.24 9.01 8.93 12.13 13.15 14.1
Distribution rate 51.2% 37.5% 170% 49.9% 59.4% 49.6% 49.5% 49.2%
Net sales 1 107,700 133,237 157,249 161,921 155,113 151,468 157,137 162,936
EBITDA 1 8,392 10,739 13,183 14,284 15,044 15,133 16,012 16,776
EBIT 1 5,688 7,619 9,627 10,561 10,930 11,088 11,782 12,482
Net income 1 3,133 4,310 1,285 5,160 5,115 6,961 7,544 8,097
Net Debt 1 14,551 40,534 37,530 37,923 31,301 28,809 25,605 22,077
Reference price 2 124.65 86.96 98.58 136.90 147.20 150.30 150.30 150.30
Nbr of stocks (in thousands) 364,584 572,918 572,918 572,918 572,918 572,918 - -
Announcement Date 2/8/22 2/7/23 2/7/24 2/6/25 2/4/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.54x1.64x8.63x1.88% 16.4B
77.91x3.45x7.6x2.36% 10.65B
12.28x0.76x7.57x4.02% 8.94B
67.3x - - - 4.64B
24.44x1.83x9.89x - 4.08B
14.21x1.52x6.48x3.17% 3.64B
11.24x0.58x5.04x6.19% 1.75B
Average 32.70x 1.63x 7.53x 3.52% 7.16B
Weighted average by Cap. 35.45x 1.86x 7.98x 2.76%

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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