Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 304,804 - -
Change - -38.58% 3.04% 42.39% 0.82% 0.94% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 252,981 243,711 236,312
Change - -36.08% 11.82% 32.33% -1.1% -9.01% -3.66% -3.04%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 17.2x 14.3x 13.3x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.77x 2.57x 2.37x
PEG - -0.6x 0x -90x 0x -0.5x 0.7x 1.79x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.35x 1.32x 1.29x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.12x 1.05x 1x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 6.82x 6.49x 6.03x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 8.77x 8.22x 7.56x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 11.4x 9.7x 9.05x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.74% 10.3% 11%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.035 3.154 3.285
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.27% 3.4% 3.54%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.382 6.504 6.988
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 56.4% 48.5% 47%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,129 231,076 236,160
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,072 37,530 39,204
EBIT 1 32,300 27,419 18,093 24,658 40,971 28,845 29,662 31,259
Net income 1 23,000 18,724 -26,446 20 28,428 17,806 20,657 21,503
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -51,823 -61,093 -68,492
Reference price 2 99.79 60.90 63.11 89.88 90.60 92.80 92.80 92.80
Nbr of stocks (in thousands) 3,329,738 3,330,142 3,330,142 3,332,672 3,333,287 3,283,682 - -
Announcement Date 25/01/22 20/01/23 23/01/24 24/01/25 23/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.5x6.16x15.95x1.51% 445B
54.26x19.39x38.9x-.--% 261B
19.23x0.78x14.05x2.36% 172B
26.15x8.31x20.06x0.47% 142B
50.76x15.19x33.54x-.--% 97.92B
32.95x6.42x18.62x1.06% 75.36B
42.74x2.32x14.98x1.65% 57.54B
67.19x8.68x38.41x-.--% 55.26B
28.51x6.45x21.51x1.45% 55.06B
Average 38.81x 8.19x 24.00x 0.95% 151.26B
Weighted average by Cap. 35.71x 8.85x 23.05x 1.03%

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