Company Valuation: Sandvik AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 316,858 236,326 273,582 248,745 377,068 483,189 - -
Change - -25.42% 15.76% -9.08% 51.59% 28.14% - -
Enterprise Value (EV) 1 343,760 280,278 317,057 289,860 411,038 510,789 499,150 482,708
Change - -18.47% 13.12% -8.58% 41.81% 24.27% -2.28% -3.29%
P/E 21.9x 21.1x 17.9x 20.3x 25.7x 22.9x 19.7x 18.5x
PBR 4.11x 2.91x 3.12x 2.57x 4.05x 4.38x 3.81x 3.39x
PEG - -0.9x 0.5x -1x 1.3x 0.5x 1.2x 2.85x
Capitalization / Revenue 3.2x 2.1x 2.16x 2.02x 3.12x 3.33x 2.95x 2.85x
EV / Revenue 3.47x 2.5x 2.51x 2.36x 3.41x 3.52x 3.04x 2.85x
EV / EBITDA 13.9x 11.1x 10.6x 11x 14.6x 13.8x 12.2x 11.4x
EV / EBIT 19x 13.3x 13.6x 13.4x 19.1x 17.2x 15.1x 14x
EV / FCF 35.7x 40.9x 23.6x 18.4x 26.7x 27.9x 20.9x 18x
FCF Yield 2.8% 2.45% 4.24% 5.44% 3.74% 3.59% 4.77% 5.56%
Dividend per Share 2 4.75 5 5.5 5.75 6 7.319 8.273 8.698
Rate of return 1.88% 2.65% 2.52% 2.9% 2% 1.9% 2.15% 2.26%
EPS 2 11.52 8.94 12.18 9.75 11.7 16.8 19.51 20.77
Distribution rate 41.2% 55.9% 45.2% 59% 51.3% 43.6% 42.4% 41.9%
Net sales 1 99,105 112,332 126,503 122,878 120,680 144,922 164,015 169,252
EBITDA 1 24,649 25,235 29,877 26,401 28,223 37,126 40,973 42,464
EBIT 1 18,116 21,020 23,300 21,635 21,502 29,770 33,078 34,511
Net income 1 14,470 12,854 15,300 12,243 14,690 21,139 24,631 26,218
Net Debt 1 26,902 43,952 43,475 41,115 33,970 27,599 15,960 -481.6
Reference price 2 252.60 188.40 218.10 198.30 300.60 385.20 385.20 385.20
Nbr of stocks (in thousands) 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 - -
Announcement Date 20/01/22 20/01/23 25/01/24 23/01/25 27/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.93x3.52x13.76x1.9% 49.87B
13.01x1.05x8.28x4.15% 3.98B
5.27x - - 8.46% 3.54B
7.61x - - - 3B
32.02x - - 0.17% 562M
Average 16.17x 2.29x 11.02x 3.67% 12.19B
Weighted average by Cap. 20.59x 3.34x 13.35x 2.44%

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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