Company Valuation: Veidekke ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,705 13,043 13,779 19,221 24,156 29,059 - -
Change - -26.33% 5.64% 39.49% 25.68% 20.3% - -
Enterprise Value (EV) 1 13,996 10,207 11,003 19,221 21,836 24,567 24,487 24,441
Change - -27.07% 7.8% 74.68% 13.61% 12.51% -0.33% -0.19%
P/E 18.6x 12x 12.9x 15.3x 15.5x 17.2x 16.8x 16.2x
PBR 6.24x 4.36x - 5.81x 6.55x 7.76x 7.49x 7.24x
PEG - 0.9x -5.22x 0.9x 0.7x 2.04x 7.35x 4.22x
Capitalization / Revenue 0.47x 0.34x 0.32x 0.46x 0.56x 0.62x 0.6x 0.58x
EV / Revenue 0.37x 0.26x 0.26x 0.46x 0.51x 0.53x 0.5x 0.48x
EV / EBITDA 6.13x 4.17x 4.48x 7.09x 6.99x 7.54x 7.43x 7.22x
EV / EBIT 10.3x 6.77x 7.81x 12x 10.8x 11.3x 11.2x 10.8x
EV / FCF 8.13x 10.4x 12x 10.1x 6.64x 7.51x 10x 9.99x
FCF Yield 12.3% 9.6% 8.36% 9.93% 15.1% 13.3% 9.96% 10%
Dividend per Share 2 7 7.75 7.9 9 11.25 11.75 12.25 12.75
Rate of return 5.29% 8.01% 7.73% 6.33% 6.3% 5.48% 5.71% 5.94%
EPS 2 7.1 8.1 7.9 9.3 11.5 12.47 12.76 13.24
Distribution rate 98.6% 95.7% 100% 96.8% 97.8% 94.2% 96% 96.3%
Net sales 1 37,592 38,658 43,146 41,403 43,143 46,602 48,744 50,496
EBITDA 1 2,282 2,446 2,454 2,712 3,126 3,260 3,294 3,385
EBIT 1 1,364 1,508 1,409 1,605 2,021 2,174 2,186 2,261
Net income 1 1,100 1,226 1,069 1,261 1,553 1,683 1,722 1,788
Net Debt 1 -3,709 -2,836 -2,776 - -2,320 -4,492 -4,572 -4,618
Reference price 2 132.40 96.80 102.20 142.20 178.60 214.50 214.50 214.50
Nbr of stocks (in thousands) 133,726 134,746 134,825 135,166 135,251 135,475 - -
Announcement Date 2/9/22 2/8/23 2/8/24 2/13/25 2/12/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
55.55x2.56x24.44x0.07% 96.62B
12.36x1.06x5.79x4.73% 71.21B
33.46x4.2x22.82x0.2% 57.1B
26.01x2x19.7x1.14% 55.69B
51.4x4.07x25.79x1.9% 40.35B
27.66x0.7x11.44x2.23% 34.75B
23.1x1.58x14.53x0.2% 33.37B
22.33x0.45x7.09x2.71% 30.42B
4.96x0.31x5.79x5.92% 26.52B
Average 28.54x 1.88x 15.27x 2.12% 49.56B
Weighted average by Cap. 31.89x 2.10x 16.74x 1.83%

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