Company Valuation: Tingsvalvet AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 284.2 282.7 427.6 435.3 555.6 687.8
Change - -0.53% 51.25% 1.81% 27.62% 23.8%
Enterprise Value (EV) 1 659.6 702.8 1,267 1,462 1,925 2,482
Change - 6.55% 80.33% 15.38% 31.63% 28.96%
P/E -21.4x -137x -8.71x -37.1x 22.5x 6.97x
PBR 0.91x 0.96x 0.56x 0.55x 0.64x 0.6x
PEG - 1.6x -0x 0.5x -0x 0x
Capitalization / Revenue 6.07x 5.96x 5.62x 3.31x 3.54x 3.24x
EV / Revenue 14.1x 14.8x 16.7x 11.1x 12.3x 11.7x
EV / EBITDA - - - - - -
EV / EBIT 20.8x 22.5x 27.1x 16.6x 18.1x 17x
EV / FCF 58.4x 108x 39.3x 47.2x 37.7x 54.4x
FCF Yield 1.71% 0.92% 2.55% 2.12% 2.65% 1.84%
Dividend per Share 2 5 7.6 - - - 0.3
Rate of return 5.35% 8.17% - - - 0.76%
EPS 2 -4.375 -0.6809 -3.81 -0.91 1.63 5.65
Distribution rate -114% -1,116% - - - 5.31%
Net sales 1 46.81 47.43 76.11 131.7 157.1 212
EBITDA - - 46.81 88.44 107 146.3
EBIT 1 31.74 31.27 46.72 88.13 106.6 146
Net income 1 -13.3 -2.07 -19.04 -0.919 47.19 124.1
Net Debt 1 375.3 420.1 839.7 1,027 1,369 1,794
Reference price 2 93.50 93.00 33.20 33.80 36.60 39.40
Nbr of stocks (in thousands) 3,040 3,040 12,880 12,880 15,180 17,457
Announcement Date 3/12/21 3/11/22 4/27/23 4/26/24 4/28/25 4/28/26
1SEK in Million2SEK
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
62.18x - - - 66.41B
14x4.54x12.22x3.62% 39.85B
5.74x0.78x1.6x8.58% 28.06B
8.28x1.46x8.04x4.27% 27.68B
17.51x3.91x15.72x1.4% 27.05B
13.43x3.04x14.56x2.6% 24.8B
9.36x3.54x7.84x-.--% 22.08B
8.3x0.92x3.35x2.69% 21.22B
10.35x2.03x8.38x4.06% 20.81B
Average 16.57x 2.53x 8.96x 3.4% 30.88B
Weighted average by Cap. 23.32x 2.67x 9.26x 3.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA