Financials Volvo BOERSE MUENCHEN

Stocks

VOL4

US9288541082

Heavy Machinery & Vehicles

Market Closed - BOERSE MUENCHEN Other stock markets 16:43:49 2026-07-15 EDT			5-day change	1st Jan Change
30.80 ^EUR	+0.65%		+1.99%	+13.24%

07-15	Segro expects GBP6 million new rent from latest leasing deals	AN
07-15	Volvo expected to report 14,324 million kronor in adjusted operating profit - Bloomberg	FW

Projected Income Statement: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	372,216	473,479	552,764	526,816	479,183	492,400	531,454	560,855
Change	-	27.21%	16.75%	-4.69%	-9.04%	2.76%	7.93%	5.53%
EBITDA ¹	59,735	71,196	98,865	88,266	74,704	77,591	88,979	96,141
Change	-	19.19%	38.86%	-10.72%	-15.36%	3.87%	14.68%	8.05%
EBIT ¹	41,015	50,467	77,638	65,718	51,218	56,717	66,928	72,968
Change	-	23.05%	53.84%	-15.35%	-22.06%	10.74%	18%	9.02%
Interest Paid ¹	117	-634	-58	599	-1,114	-541.5	-433.6	-500
Earnings before Tax (EBT) ¹	43,190	45,077	66,726	67,210	47,391	54,308	66,402	72,531
Change	-	4.37%	48.03%	0.73%	-29.49%	14.6%	22.27%	9.23%
Net income ¹	32,787	32,722	49,825	50,389	34,456	41,527	51,234	55,645
Change	-	-0.2%	52.27%	1.13%	-31.62%	20.52%	23.38%	8.61%
Announcement Date	1/28/22	1/26/23	1/26/24	1/29/25	1/28/26	-	-	-

¹SEK in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	90,561	85,258	102,378	105,317	118,943	114,917	134,302	131,420	140,821	132,405	148,117	131,177	140,249	116,978	138,413	121,792	122,896	110,692	123,803	110,765	124,722	124,062	139,169	127,247	137,035	138,469	154,569	131,753
Change	-	-5.86%	20.08%	2.87%	12.94%	-3.38%	16.87%	-2.15%	7.15%	-5.98%	11.87%	-11.44%	6.92%	-16.59%	18.32%	-12.01%	0.91%	-9.93%	11.84%	-10.53%	12.6%	-0.53%	12.18%	-8.57%	7.69%	1.05%	11.63%	-14.76%
EBITDA ¹	14,271	14,220	14,879	17,566	18,723	16,910	17,996	23,517	27,022	24,448	23,879	23,325	23,563	17,189	20,301	17,701	19,614	17,368	18,749	15,311	21,532	22,733	23,750	22,150	24,841	24,959	26,376	23,198
Change	-	-0.36%	4.63%	18.06%	6.59%	-9.68%	6.42%	30.68%	14.9%	-9.53%	-2.33%	-2.32%	1.02%	-27.05%	18.1%	-12.81%	10.81%	-11.45%	7.95%	-18.34%	40.63%	5.58%	4.47%	-6.74%	12.15%	0.48%	5.68%	-12.05%
EBIT ¹	9,730	9,403	10,060	12,681	13,745	11,869	12,171	18,409	21,732	19,114	18,384	18,159	19,446	14,074	14,039	13,258	13,484	11,707	12,769	10,678	13,611	14,518	16,973	16,620	16,008	-	-	-
Change	-	-3.36%	6.99%	26.05%	8.39%	-13.65%	2.54%	51.25%	18.05%	-12.05%	-3.82%	-1.22%	7.09%	-27.63%	-0.25%	-5.56%	1.7%	-13.18%	9.07%	-16.38%	27.47%	6.66%	16.91%	-2.08%	-3.68%	-	-	-
Charge d'intérêts ¹	-120	30	-17	471	127	-111	-1,122	-312	-52	317	-10	283	-	-501	-	-	-256	-381	-74	85	-223	-223	-223	-	-	-	-	-
Earnings before Tax (EBT) ¹	11,265	9,433	10,202	9,027	13,873	11,758	10,420	16,797	14,409	18,636	16,884	18,442	20,534	13,573	14,660	12,855	9,705	12,136	12,695	10,762	13,160	14,471	16,879	16,117	16,037	-	-	-
Change	-	-16.26%	8.15%	-11.52%	53.68%	-15.25%	-11.38%	61.2%	-14.22%	29.34%	-9.4%	9.23%	11.34%	-33.9%	8.01%	-12.31%	-24.5%	25.05%	4.61%	-15.23%	22.28%	9.96%	16.64%	-4.52%	-0.5%	-	-	-
Net income ¹	8,900	7,052	7,995	7,033	10,443	8,627	6,620	12,910	10,770	14,092	12,053	14,080	15,551	10,017	10,742	9,890	7,412	7,540	9,614	8,315	9,979	11,154	12,832	12,038	12,967	13,646	14,927	12,665
Change	-	-20.76%	13.37%	-12.03%	48.49%	-17.39%	-23.26%	95.02%	-16.58%	30.84%	-14.47%	16.82%	10.45%	-35.59%	7.24%	-7.93%	-25.06%	1.73%	27.51%	-13.51%	20.01%	11.77%	15.05%	-6.19%	7.72%	5.24%	9.38%	-15.15%
Announcement Date	7/20/21	10/21/21	1/28/22	4/22/22	7/19/22	10/20/22	1/26/23	4/20/23	7/19/23	10/18/23	1/26/24	4/17/24	7/18/24	10/18/24	1/29/25	4/23/25	7/17/25	10/17/25	1/28/26	4/24/26	-	-	-	-	-	-	-	-

¹SEK in Million

Estimates

Fiscal Period: December	2022 S1	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	-	244,687	234,495	236,715	247,362
Change	-	-	-4.17%	0.95%	4.5%
EBITDA ¹	-	38,588	36,116	39,003	40,418
Change	-	-	-6.41%	7.99%	3.63%
EBIT ¹	26,426	26,742	24,476	26,319	27,593
Change	-	1.2%	-8.47%	7.53%	4.84%
Charge d'intérêts	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	22,560	24,831	24,882	27,326
Change	-	-	10.07%	0.21%	9.82%
Net income ¹	-	17,302	17,154	19,032	20,768
Change	-	-	-0.86%	10.95%	9.12%
Announcement Date	7/19/22	7/17/25	1/28/26	-	-

¹SEK in Million

Estimates

Forecast Balance Sheet: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-50,400	-61,300	-66,700	-67,200	-48,400	-56,925	-70,700	-81,868
Change	-	-21.63%	-8.81%	-0.75%	27.98%	-17.61%	-24.2%	-15.8%
Announcement Date	1/28/22	1/26/23	1/26/24	1/29/25	1/28/26	-	-	-

¹SEK in Million

Estimates

Cash Flow Forecast: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	18,117	20,456	23,387	17,904	25,460	24,221	22,363	24,661
Change	-	12.91%	14.33%	-23.44%	42.2%	-4.87%	-7.67%	10.28%
Free Cash Flow (FCF) ¹	15,530	12,788	11,130	28,540	20,135	31,674	39,056	41,650
Change	-	-17.66%	-12.97%	156.42%	-29.45%	57.31%	23.3%	6.64%
Announcement Date	1/28/22	1/26/23	1/26/24	1/29/25	1/28/26	-	-	-

¹SEK in Million

Estimates

Forecast Financial Ratios: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	16.05%	15.04%	17.89%	16.75%	15.59%	15.76%	16.74%	17.14%
EBIT Margin (%)	11.02%	10.66%	14.05%	12.47%	10.69%	11.52%	12.59%	13.01%
EBT Margin (%)	11.6%	9.52%	12.07%	12.76%	9.89%	11.03%	12.49%	12.93%
Net margin (%)	8.81%	6.91%	9.01%	9.56%	7.19%	8.43%	9.64%	9.92%
FCF margin (%)	4.17%	2.7%	2.01%	5.42%	4.2%	6.43%	7.35%	7.43%
FCF / Net Income (%)	47.37%	39.08%	22.34%	56.64%	58.44%	76.27%	76.23%	74.85%
Profitability
ROA	6.39%	5.72%	8.95%	7.16%	5.35%	7.4%	8.2%	8.1%
ROE	21.79%	23.83%	34.26%	26.74%	19.57%	23.49%	25.42%	25.35%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	4.87%	4.32%	4.23%	3.4%	5.31%	4.92%	4.21%	4.4%
CAPEX / EBITDA (%)	30.33%	28.73%	23.66%	20.28%	34.08%	31.22%	25.13%	25.65%
CAPEX / FCF (%)	116.66%	159.96%	210.13%	62.73%	126.45%	76.47%	57.26%	59.21%
Items per share
Cash flow per share ¹	16.55	16.35	13.12	22.85	22.43	28.77	32.33	33.44
Change	-	-1.2%	-19.76%	74.15%	-1.85%	28.3%	12.35%	3.45%
Dividend per Share ¹	13	14	18	18.5	13	15.36	17.97	19.24
Change	-	7.69%	28.57%	2.78%	-29.73%	18.16%	17%	7.03%
Book Value Per Share ¹	69.36	80.03	87.45	95.4	87.7	95.73	104.5	112.8
Change	-	15.39%	9.28%	9.09%	-8.07%	9.15%	9.21%	7.93%
EPS ¹	16.12	16.09	24.5	24.78	16.94	20.4	24.46	26.47
Change	-	-0.19%	52.27%	1.14%	-31.64%	20.42%	19.89%	8.23%
Nbr of stocks (in thousands)	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452
Announcement Date	1/28/22	1/26/23	1/26/24	1/29/25	1/28/26	-	-	-