Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 306,031 - -
Change - -38.58% 3.04% 42.39% 0.82% 1.35% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 254,208 244,938 237,539
Change - -36.08% 11.82% 32.33% -1.1% -8.57% -3.65% -3.02%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 17.3x 14.4x 13.4x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.79x 2.59x 2.4x
PEG - -0.6x 0x -90x 0x -0.5x 0.7x 1.8x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.35x 1.33x 1.3x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.12x 1.06x 1.01x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 6.86x 6.54x 6.07x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 8.81x 8.28x 7.62x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 11.5x 9.8x 9.13x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.7% 10.2% 10.9%
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% 3.26% 3.38% 3.53%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.382 6.485 6.967
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 56.4% 48.6% 47.1%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,162 230,728 235,774
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,078 37,447 39,107
EBIT 1 32,300 27,419 18,093 24,658 40,971 28,852 29,571 31,153
Net income 1 23,000 18,724 -26,446 20 28,428 17,811 20,598 21,437
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 93.18 93.18 93.18
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.51x5.94x15.38x1.57% 429B
53.62x19.15x38.42x-.--% 258B
19.23x0.78x14.05x2.36% 172B
26.15x8.29x20.01x0.47% 142B
49.33x14.52x32.41x-.--% 93.81B
32.42x6.33x18.34x1.08% 74.15B
42.85x2.32x15.01x1.65% 57.93B
28.2x6.37x21.27x1.47% 54.47B
65.37x8.45x37.38x-.--% 53.77B
Average 38.19x 8.02x 23.59x 0.95% 148.28B
Weighted average by Cap. 35.05x 8.66x 22.63x 1.05%

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