Company Valuation: Volvo

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 427,626 387,546 534,513 546,897 601,921 640,307 - -
Change - -9.37% 37.92% 2.32% 10.06% 6.38% - -
Enterprise Value (EV) 1 377,226 326,246 467,813 479,697 553,521 583,172 570,312 558,960
Change - -13.51% 43.39% 2.54% 15.39% 5.36% -2.21% -1.99%
P/E 13x 11.7x 10.7x 10.8x 17.5x 15.2x 12.4x 11.4x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.26x 2.98x 2.76x
PEG - -62.87x 0.2x 9.45x -0.6x 0.7x 0.6x 1.34x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.28x 1.17x 1.11x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.16x 1.04x 0.97x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 7.5x 6.29x 5.73x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 10.1x 8.3x 7.46x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 16.6x 13.3x 12x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 6.01% 7.5% 8.31%
Dividend per Share 2 13 14 18 18.5 13 15.5 18.37 19.72
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.92% 5.83% 6.26%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.75 25.36 27.52
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 74.7% 72.4% 71.6%
Net sales 1 372,216 473,479 552,764 526,816 479,183 500,978 547,541 575,896
EBITDA 1 59,735 71,196 98,865 88,266 74,704 77,719 90,610 97,496
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,808 68,727 74,964
Net income 1 32,787 32,722 49,825 50,389 34,456 42,337 52,575 57,024
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -57,135 -69,995 -81,347
Reference price 2 209.65 188.48 261.70 268.60 295.90 314.80 314.80 314.80
Nbr of stocks (in thousands) 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 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.61x5.36x23.74x0.73% 389B
37.9x5.83x31.79x0.96% 185B
15.17x1.16x7.5x4.92% 63.8B
18.33x1.7x13.88x2.97% 57.73B
31.25x4.32x18.2x0.42% 48.57B
16.92x1.71x9.72x2.57% 42.39B
10.91x1.05x10.4x4.74% 34.79B
32.14x4.66x18.59x1.56% 30.17B
12.05x0.39x4.03x4.08% 25.38B
Average 22.92x 2.91x 15.32x 2.55% 97.41B
Weighted average by Cap. 28.77x 4.34x 21.35x 1.59%

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