Company Valuation: Tele2

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 88,993 58,714 59,923 75,591 107,163 112,801 - -
Change - -34.02% 2.06% 26.15% 41.77% 5.26% - -
Enterprise Value (EV) 1 118,674 89,822 89,891 105,924 136,243 140,083 140,754 142,138
Change - -24.31% 0.08% 17.84% 28.62% 2.82% 0.48% 0.98%
P/E 20.8x 10.6x 16.1x 19.6x 23.5x 10.8x 19.6x 17.8x
PBR 2.86x 2.48x 2.63x 3.42x 4.81x 4.83x 5.18x 5.68x
PEG - 0.4x -0.5x 5.54x 1.3x 0x -0.4x 1.7x
Capitalization / Revenue 3.32x 2.09x 2.06x 2.56x 3.59x 3.72x 3.64x 3.57x
EV / Revenue 4.43x 3.2x 3.09x 3.58x 4.56x 4.62x 4.54x 4.5x
EV / EBITDA 10.9x 7.88x 7.56x 8.72x 10.2x 9.98x 9.67x 9.45x
EV / EBIT 23x 13x 15.7x 18.2x 20.6x 11.2x 17.7x 16.8x
EV / FCF 17x 19.2x 15.1x 18.2x 17.8x 13.8x 15.8x 15.5x
FCF Yield 5.87% 5.22% 6.63% 5.48% 5.61% 7.25% 6.31% 6.45%
Dividend per Share 2 6.75 19.8 6.9 6.35 10.5 11.22 11.28 12.57
Rate of return 5.23% 23.3% 7.97% 5.81% 6.79% 6.91% 6.95% 7.74%
EPS 2 6.21 8.03 5.37 5.56 6.58 14.99 8.265 9.139
Distribution rate 109% 247% 128% 114% 160% 74.9% 136% 138%
Net sales 1 26,789 28,102 29,099 29,583 29,890 30,345 30,975 31,555
EBITDA 1 10,900 11,395 11,885 12,149 13,397 14,038 14,553 15,044
EBIT 1 5,169 6,890 5,734 5,817 6,615 12,514 7,933 8,473
Net income 1 4,306 5,574 3,735 3,870 4,587 10,412 5,655 6,106
Net Debt 1 29,681 31,108 29,968 30,333 29,080 27,282 27,954 29,337
Reference price 2 129.10 85.10 86.54 109.25 154.55 162.40 162.40 162.40
Nbr of stocks (in thousands) 688,651 689,909 691,633 691,933 693,390 694,578 - -
Announcement Date 2/1/22 1/31/23 1/30/24 1/28/25 1/28/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.2x5.46x9.55x1.71% 127B
19.3x2.13x8.12x3.91% 68.97B
11.48x1.71x3.66x3.07% 21.63B
-267.09x8.89x11.08x2.97% 21.03B
25.19x3.03x6.84x4.01% 19.45B
-8.04x6.67x15.03x-.--% 15.33B
13.24x2.61x6.79x4.95% 13.01B
10.83x4.62x9.98x6.91% 11.81B
24.2x3.42x10.05x4.13% 11.29B
Average -15.63x 4.28x 9.01x 3.52% 34.38B
Weighted average by Cap. 2.38x 4.37x 8.95x 2.86%

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