Company Valuation: Nordnet AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 43,400 37,681 42,948 59,141 67,357 88,854 - -
Change - -13.18% 13.98% 37.7% 13.89% 31.91% - -
Enterprise Value (EV) 39,150 33,954 38,755 55,356 62,682 88,854 88,854 88,854
Change - -13.27% 14.14% 42.83% 13.24% 41.75% 0% 0%
P/E Ratio 22.4x 23.8x 17.4x 21.6x 22.9x 26.1x 23.1x 20.6x
PBR 7.25x 6.24x 5.55x 7.44x 8.02x 10.2x 9.16x 8.05x
PEG - -1.3x 0.3x 2.1x 2.56x 1.6x 1.8x 1.6x
Capitalization / Revenue 12x 11.1x 9.44x 11.5x 12.5x 14.6x 13.2x 11.9x
EV / Revenue 0x 0x 0x 0x 0x 14.6x 13.2x 11.9x
EV / EBITDA 0x 0x 0x 0x 0x 19.4x 16.9x 14.9x
EV / EBIT 0x 0x 0x 0x 0x 20.8x 18.6x 16.6x
EV / FCF - - - 0x 0x 25.7x 23.5x 20.8x
FCF Yield - - - 9.9% 18.2% 3.89% 4.26% 4.81%
Dividend per Share 2 5.56 4.6 7.2 8.1 8.6 9.551 10.87 12.22
Rate of return 3.2% 3.05% 4.21% 3.45% 3.18% 2.67% 3.04% 3.42%
EPS 2 7.75 6.33 9.83 10.85 11.82 13.73 15.45 17.4
Distribution rate 71.7% 72.7% 73.2% 74.7% 72.8% 69.6% 70.4% 70.2%
Net sales 1 3,628 3,382 4,550 5,152 5,384 6,085 6,749 7,475
EBITDA 1 2,650 2,263 3,430 3,790 3,962 4,583 5,256 5,956
EBIT 1 2,488 2,091 3,251 3,506 3,736 4,263 4,780 5,367
Net income 1 1,985 1,652 2,579 2,814 3,015 3,427 3,837 4,296
Net Debt -4,250 -3,726 -4,193 -3,785 -4,675 - - -
Reference price 2 173.60 150.95 171.00 234.80 270.20 357.60 357.60 357.60
Nbr of stocks (in thousands) 250,000 249,625 251,159 251,877 249,287 248,473 - -
Announcement Date 03/02/22 31/01/23 30/01/24 28/01/25 28/01/26 - - -
1SEK in Million2SEK
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.08x - - 2.77% 8.96B
14.05x - - 2.01% 840B
12.33x - - 2.14% 391B
5.85x - - 5.29% 382B
5.71x - - 5.35% 300B
10.89x - - 4.75% 302B
6.12x - - 5.09% 276B
17.5x - - 2.44% 276B
11.8x - - 2.28% 252B
16.05x - - 2.41% 221B
Average 12.54x 3.45% 324.9B
Weighted average by Cap. 11.43x 3.32%

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

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