Company Valuation: Veidekke ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,705 13,043 13,779 19,221 24,156 28,924 - -
Change - -26.33% 5.64% 39.49% 25.68% 19.74% - -
Enterprise Value (EV) 1 13,996 10,207 11,003 19,221 21,836 24,432 24,351 24,305
Change - -27.07% 7.8% 74.68% 13.61% 11.89% -0.33% -0.19%
P/E 18.6x 12x 12.9x 15.3x 15.5x 17.1x 16.7x 16.1x
PBR 6.24x 4.36x - 5.81x 6.55x 7.72x 7.45x 7.21x
PEG - 0.9x -5.22x 0.9x 0.7x 2.03x 7.31x 4.19x
Capitalization / Revenue 0.47x 0.34x 0.32x 0.46x 0.56x 0.62x 0.59x 0.57x
EV / Revenue 0.37x 0.26x 0.26x 0.46x 0.51x 0.52x 0.5x 0.48x
EV / EBITDA 6.13x 4.17x 4.48x 7.09x 6.99x 7.49x 7.39x 7.18x
EV / EBIT 10.3x 6.77x 7.81x 12x 10.8x 11.2x 11.1x 10.7x
EV / FCF 8.13x 10.4x 12x 10.1x 6.64x 7.47x 9.99x 9.94x
FCF Yield 12.3% 9.6% 8.36% 9.93% 15.1% 13.4% 10% 10.1%
Dividend per Share 2 7 7.75 7.9 9 11.25 11.75 12.25 12.75
Rate of return 5.29% 8.01% 7.73% 6.33% 6.3% 5.5% 5.74% 5.97%
EPS 2 7.1 8.1 7.9 9.3 11.5 12.47 12.76 13.24
Distribution rate 98.6% 95.7% 100% 96.8% 97.8% 94.2% 96% 96.3%
Net sales 1 37,592 38,658 43,146 41,403 43,143 46,602 48,744 50,496
EBITDA 1 2,282 2,446 2,454 2,712 3,126 3,260 3,294 3,385
EBIT 1 1,364 1,508 1,409 1,605 2,021 2,174 2,186 2,261
Net income 1 1,100 1,226 1,069 1,261 1,553 1,683 1,722 1,788
Net Debt 1 -3,709 -2,836 -2,776 - -2,320 -4,492 -4,572 -4,618
Reference price 2 132.40 96.80 102.20 142.20 178.60 213.50 213.50 213.50
Nbr of stocks (in thousands) 133,726 134,746 134,825 135,166 135,251 135,475 - -
Announcement Date 09/02/22 08/02/23 08/02/24 13/02/25 12/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
55.04x2.54x24.23x0.07% 95.73B
12.19x1.05x5.73x4.79% 70.41B
34x4.27x23.21x0.2% 58.02B
25.94x2x19.66x1.18% 55.34B
50.17x3.99x25.34x1.89% 39.47B
27.1x0.68x11.21x2.28% 34.12B
22.9x1.56x14.41x0.2% 33.09B
21.74x0.43x6.87x2.76% 29.68B
4.94x0.31x5.78x5.95% 26.39B
Average 28.22x 1.87x 15.16x 2.15% 49.14B
Weighted average by Cap. 31.60x 2.10x 16.67x 1.85%

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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