Financials Volvo Nasdaq Stockholm

Stocks

VOLV A

SE0000115420

Heavy Machinery & Vehicles

Delayed Nasdaq Stockholm Other stock markets 20:00:00 18/06/2026 +04			5-day change	1st Jan Change
320.60 ^SEK	+0.75%		+3.15%	+8.16%

06-18	Westport Fuel Systems Surged 54% in U.S.-Pre-Market After Cespira JV Entered Development Agreement With Volvo Group	MT
06-18	Westport Fuel Systems Joint Venture Finalizes Volvo Hydrogen Engine Deal	MT

Projected Income Statement: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	372,216	473,479	552,764	526,816	479,183	489,760	525,503	554,277
Change	-	27.21%	16.75%	-4.69%	-9.04%	2.21%	7.3%	5.48%
EBITDA ¹	59,735	71,196	98,865	88,266	74,704	77,476	88,039	94,940
Change	-	19.19%	38.86%	-10.72%	-15.36%	3.71%	13.63%	7.84%
EBIT ¹	41,015	50,467	77,638	65,718	51,218	56,976	66,611	72,325
Change	-	23.05%	53.84%	-15.35%	-22.06%	11.24%	16.91%	8.58%
Interest Paid ¹	117	-634	-58	599	-1,114	-541.4	-433.6	-500.1
Earnings before Tax (EBT) ¹	43,190	45,077	66,726	67,210	47,391	55,294	65,762	71,828
Change	-	4.37%	48.03%	0.73%	-29.49%	16.68%	18.93%	9.22%
Net income ¹	32,787	32,722	49,825	50,389	34,456	42,485	50,800	54,635
Change	-	-0.2%	52.27%	1.13%	-31.62%	23.3%	19.57%	7.55%
Announcement Date	28/01/22	26/01/23	26/01/24	29/01/25	28/01/26	-	-	-

¹SEK in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	90,561	85,258	102,378	105,317	118,943	114,917	134,302	131,420	140,821	132,405	148,117	131,177	140,249	116,978	138,413	121,792	122,896	110,692	123,803	110,765	123,893	122,394	138,015	126,113	136,850	134,197	150,662	128,620
Change	-	-5.86%	20.08%	2.87%	12.94%	-3.38%	16.87%	-2.15%	7.15%	-5.98%	11.87%	-11.44%	6.92%	-16.59%	18.32%	-12.01%	0.91%	-9.93%	11.84%	-10.53%	11.85%	-1.21%	12.76%	-8.62%	8.51%	-1.94%	12.27%	-14.63%
EBITDA ¹	14,271	14,220	14,879	17,566	18,723	16,910	17,996	23,517	27,022	24,448	23,879	23,325	23,563	17,189	20,301	17,701	19,614	17,368	18,749	15,311	21,494	22,130	23,460	21,631	24,280	23,999	25,730	22,742
Change	-	-0.36%	4.63%	18.06%	6.59%	-9.68%	6.42%	30.68%	14.9%	-9.53%	-2.33%	-2.32%	1.02%	-27.05%	18.1%	-12.81%	10.81%	-11.45%	7.95%	-18.34%	40.38%	2.96%	6.01%	-7.8%	12.25%	-1.16%	7.21%	-11.61%
EBIT ¹	9,730	9,403	10,060	12,681	13,745	11,869	12,171	18,409	21,732	19,114	18,384	18,159	19,446	14,074	14,039	13,258	13,484	11,707	12,769	10,678	14,398	14,551	17,100	16,614	16,008	-	-	-
Change	-	-3.36%	6.99%	26.05%	8.39%	-13.65%	2.54%	51.25%	18.05%	-12.05%	-3.82%	-1.22%	7.09%	-27.63%	-0.25%	-5.56%	1.7%	-13.18%	9.07%	-16.38%	34.84%	1.06%	17.52%	-2.84%	-3.65%	-	-	-
Charge d'intérêts ¹	-120	30	-17	471	127	-111	-1,122	-312	-52	317	-10	283	-	-501	-	-	-256	-381	-74	85	-223	-223	-223	-	-	-	-	-
Earnings before Tax (EBT) ¹	11,265	9,433	10,202	9,027	13,873	11,758	10,420	16,797	14,409	18,636	16,884	18,442	20,534	13,573	14,660	12,855	9,705	12,136	12,695	10,762	14,085	14,580	17,207	16,117	16,037	-	-	-
Change	-	-16.26%	8.15%	-11.52%	53.68%	-15.25%	-11.38%	61.2%	-14.22%	29.34%	-9.4%	9.23%	11.34%	-33.9%	8.01%	-12.31%	-24.5%	25.05%	4.61%	-15.23%	30.88%	3.51%	18.02%	-6.33%	-0.5%	-	-	-
Net income ¹	8,900	7,052	7,995	7,033	10,443	8,627	6,620	12,910	10,770	14,092	12,053	14,080	15,551	10,017	10,742	9,890	7,412	7,540	9,614	8,315	10,788	11,146	13,010	11,936	12,851	13,091	14,639	12,430
Change	-	-20.76%	13.37%	-12.03%	48.49%	-17.39%	-23.26%	95.02%	-16.58%	30.84%	-14.47%	16.82%	10.45%	-35.59%	7.24%	-7.93%	-25.06%	1.73%	27.51%	-13.51%	29.74%	3.32%	16.72%	-8.26%	7.66%	1.87%	11.82%	-15.09%
Announcement Date	20/07/21	21/10/21	28/01/22	22/04/22	19/07/22	20/10/22	26/01/23	20/04/23	19/07/23	18/10/23	26/01/24	17/04/24	18/07/24	18/10/24	29/01/25	23/04/25	17/07/25	17/10/25	28/01/26	24/04/26	-	-	-	-	-	-	-	-

¹SEK in Million

Estimates

Fiscal Period: December	2022 S1	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	-	244,687	234,495	227,473	247,679
Change	-	-	-4.17%	-2.99%	8.88%
EBITDA ¹	-	38,588	36,116	37,962	41,491
Change	-	-	-6.41%	5.11%	9.3%
EBIT ¹	26,426	26,742	24,476	25,277	28,705
Change	-	1.2%	-8.47%	3.27%	13.56%
Charge d'intérêts	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	22,560	24,831	23,843	28,471
Change	-	-	10.07%	-3.98%	19.41%
Net income ¹	-	17,302	17,154	18,243	21,638
Change	-	-	-0.86%	6.35%	18.61%
Announcement Date	19/07/22	17/07/25	28/01/26	-	-

¹SEK in Million

Estimates

Forecast Balance Sheet: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-50,400	-61,300	-66,700	-67,200	-48,400	-58,027	-71,426	-82,310
Change	-	-21.63%	-8.81%	-0.75%	27.98%	-19.89%	-23.09%	-15.24%
Announcement Date	28/01/22	26/01/23	26/01/24	29/01/25	28/01/26	-	-	-

¹SEK in Million

Estimates

Cash Flow Forecast: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	18,117	20,456	23,387	17,904	25,460	24,100	22,047	24,220
Change	-	12.91%	14.33%	-23.44%	42.2%	-5.34%	-8.52%	9.86%
Free Cash Flow (FCF) ¹	15,530	12,788	11,130	28,540	20,135	32,418	37,644	39,109
Change	-	-17.66%	-12.97%	156.42%	-29.45%	61.01%	16.12%	3.89%
Announcement Date	28/01/22	26/01/23	26/01/24	29/01/25	28/01/26	-	-	-

¹SEK in Million

Estimates

Forecast Financial Ratios: Volvo

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	16.05%	15.04%	17.89%	16.75%	15.59%	15.82%	16.75%	17.13%
EBIT Margin (%)	11.02%	10.66%	14.05%	12.47%	10.69%	11.63%	12.68%	13.05%
EBT Margin (%)	11.6%	9.52%	12.07%	12.76%	9.89%	11.29%	12.51%	12.96%
Net margin (%)	8.81%	6.91%	9.01%	9.56%	7.19%	8.67%	9.67%	9.86%
FCF margin (%)	4.17%	2.7%	2.01%	5.42%	4.2%	6.62%	7.16%	7.06%
FCF / Net Income (%)	47.37%	39.08%	22.34%	56.64%	58.44%	76.3%	74.1%	71.58%
Profitability
ROA	6.39%	5.72%	8.95%	7.16%	5.35%	7.4%	8.2%	8.1%
ROE	21.79%	23.83%	34.26%	26.74%	19.57%	23.58%	25.09%	25%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	4.87%	4.32%	4.23%	3.4%	5.31%	4.92%	4.2%	4.37%
CAPEX / EBITDA (%)	30.33%	28.73%	23.66%	20.28%	34.08%	31.11%	25.04%	25.51%
CAPEX / FCF (%)	116.66%	159.96%	210.13%	62.73%	126.45%	74.34%	58.57%	61.93%
Items per share
Cash flow per share ¹	16.55	16.35	13.12	22.85	22.43	28.85	31.87	33.08
Change	-	-1.2%	-19.76%	74.15%	-1.85%	28.63%	10.49%	3.79%
Dividend per Share ¹	13	14	18	18.5	13	15.41	17.9	19.05
Change	-	7.69%	28.57%	2.78%	-29.73%	18.55%	16.13%	6.42%
Book Value Per Share ¹	69.36	80.03	87.45	95.4	87.7	96.09	104.4	112.4
Change	-	15.39%	9.28%	9.09%	-8.07%	9.57%	8.63%	7.63%
EPS ¹	16.12	16.09	24.5	24.78	16.94	20.76	24.35	26.17
Change	-	-0.19%	52.27%	1.14%	-31.64%	22.53%	17.33%	7.47%
Nbr of stocks (in thousands)	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452	2,033,452
Announcement Date	28/01/22	26/01/23	26/01/24	29/01/25	28/01/26	-	-	-