BETSSON B |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 125.2 SEK | +1.62% |
|
+2.62% | +15.39% |
| Apr. 26 | Nordic Shares Closed Up Friday; Medicover Series B Climbed Highest | DJ |
| Apr. 26 | Betsson AB Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,046 | 10,071 | 7,476 | 11,597 | 14,896 | 16,914 | - | - |
| Enterprise Value (EV) 1 | 6,232 | 10,229 | 7,502 | 11,597 | 14,220 | 15,077 | 13,441 | 11,782 |
| P/E ratio | 7.68 x | 10.1 x | 6.92 x | 8.75 x | 7.47 x | 7.14 x | 6.91 x | 5.67 x |
| Yield | 6.5% | 4.99% | 7.21% | - | 6.69% | 7.01% | 7.24% | 8.92% |
| Capitalization / Revenue | 1.17 x | 1.58 x | 1.12 x | 1.34 x | 1.39 x | 1.33 x | 1.27 x | 1.15 x |
| EV / Revenue | 1.2 x | 1.6 x | 1.12 x | 1.34 x | 1.33 x | 1.19 x | 1.01 x | 0.8 x |
| EV / EBITDA | 5.07 x | 6.69 x | 4.81 x | 6.04 x | 4.81 x | 4.04 x | 3.57 x | 2.65 x |
| EV / FCF | 7.04 x | 14.8 x | 10.3 x | - | 6.68 x | 7.27 x | 5.22 x | 4.23 x |
| FCF Yield | 14.2% | 6.75% | 9.68% | - | 15% | 13.7% | 19.2% | 23.7% |
| Price to Book | 1.23 x | 1.99 x | 1.28 x | - | 1.72 x | 1.67 x | 1.53 x | 1.25 x |
| Nbr of stocks (in thousands) | 138,415 | 136,652 | 136,801 | 136,801 | 137,286 | 137,286 | - | - |
| Reference price 2 | 43.68 | 73.70 | 54.65 | 84.77 | 108.5 | 123.2 | 123.2 | 123.2 |
| Announcement Date | 2/13/20 | 2/9/21 | 2/10/22 | 2/14/23 | 2/15/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,173 | 6,390 | 6,672 | 8,658 | 10,678 | 12,689 | 13,287 | 14,759 |
| EBITDA 1 | 1,230 | 1,529 | 1,560 | 1,921 | 2,958 | 3,730 | 3,767 | 4,438 |
| EBIT 1 | 865 | 1,170 | 1,194 | 1,462 | 2,371 | 3,087 | 3,148 | 3,757 |
| Operating Margin | 16.72% | 18.3% | 17.89% | 16.88% | 22.2% | 24.33% | 23.7% | 25.46% |
| Earnings before Tax (EBT) 1 | 810.9 | 1,069 | 1,137 | 1,388 | 2,194 | 2,912 | 2,977 | 3,599 |
| Net income 1 | 787.5 | 1,006 | 1,080 | 1,332 | 1,997 | 2,416 | 2,509 | 3,041 |
| Net margin | 15.22% | 15.75% | 16.18% | 15.39% | 18.7% | 19.04% | 18.88% | 20.6% |
| EPS 2 | 5.690 | 7.320 | 7.900 | 9.692 | 14.53 | 17.25 | 17.82 | 21.72 |
| Free Cash Flow 1 | 885.2 | 690.6 | 726.2 | - | 2,128 | 2,073 | 2,576 | 2,787 |
| FCF margin | 17.11% | 10.81% | 10.88% | - | 19.93% | 16.33% | 19.39% | 18.88% |
| FCF Conversion (EBITDA) | 71.99% | 45.18% | 46.55% | - | 71.95% | 55.56% | 68.38% | 62.8% |
| FCF Conversion (Net income) | 112.41% | 68.61% | 67.25% | - | 106.6% | 85.77% | 102.69% | 91.65% |
| Dividend per Share 2 | 2.840 | 3.680 | 3.940 | - | 7.264 | 8.640 | 8.915 | 10.99 |
| Announcement Date | 2/13/20 | 2/9/21 | 2/10/22 | 2/14/23 | 2/15/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,595 | 1,767 | 1,946 | 2,191 | 2,458 | 2,518 | 2,726 | 2,792 | 2,837 | 2,905 | 3,197 | 3,182 | 3,384 | 3,159 | 3,159 |
| EBITDA 1 | 307.5 | 346.7 | 410.5 | 531.5 | 569.3 | 616.1 | 778.1 | 809.7 | 809.7 | 838.1 | 944.6 | 902.4 | 1,044 | 878.2 | 901.6 |
| EBIT 1 | 210.6 | 245 | 305 | 420 | 445.6 | 487.9 | 627.3 | 658.1 | 641.9 | 677.7 | 780.4 | 744.1 | 879.6 | 714.3 | 749.4 |
| Operating Margin | 13.21% | 13.87% | 15.67% | 19.17% | 18.13% | 19.38% | 23.02% | 23.57% | 22.63% | 23.33% | 24.41% | 23.38% | 25.99% | 22.61% | 23.72% |
| Earnings before Tax (EBT) 1 | 193.7 | 231.5 | 328 | 383.9 | 398.8 | 464.1 | 599.7 | 597 | 573.2 | 637.9 | 739.4 | 697.2 | 838.6 | 679.2 | 714.3 |
| Net income 1 | 189.5 | 220.1 | 305 | 362 | 403.3 | 427.8 | 577.8 | 560.6 | 469.6 | 483.4 | 628.5 | 591.8 | 710.8 | 573.8 | 597.2 |
| Net margin | 11.88% | 12.46% | 15.67% | 16.53% | 16.41% | 16.99% | 21.2% | 20.08% | 16.55% | 16.64% | 19.66% | 18.6% | 21% | 18.16% | 18.9% |
| EPS 2 | 1.390 | 1.661 | 2.194 | 2.625 | 2.896 | 3.177 | 4.259 | 4.113 | 3.378 | 3.512 | 4.574 | 4.290 | 5.162 | 4.215 | 4.333 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/10/22 | 4/28/22 | 7/21/22 | 10/26/22 | 2/14/23 | 4/27/23 | 7/20/23 | 10/26/23 | 2/15/24 | 4/26/24 | - | - | - | - | - |
1SEK in Million2SEK
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 186 | 158 | 26 | - | - | - | - | - |
| Net Cash position 1 | - | - | - | - | 676 | 1,837 | 3,473 | 5,132 |
| Leverage (Debt/EBITDA) | 0.1513 x | 0.1034 x | 0.0167 x | - | - | - | - | - |
| Free Cash Flow 1 | 885 | 691 | 726 | - | 2,128 | 2,073 | 2,576 | 2,787 |
| ROE (net income / shareholders' equity) | 16.6% | 20.3% | 19.9% | - | 24.9% | 25.2% | 23.4% | 23.8% |
| ROA (Net income/ Total Assets) | 10.4% | 12.6% | 12.4% | - | 16% | 15.3% | 15.3% | 15.1% |
| Assets 1 | 7,583 | 7,979 | 8,720 | - | 12,493 | 15,794 | 16,396 | 20,138 |
| Book Value Per Share 2 | 35.40 | 37.10 | 42.60 | - | 63.20 | 73.60 | 80.60 | 98.50 |
| Cash Flow per Share | - | - | 10.70 | - | - | - | - | - |
| Capex 1 | 265 | 366 | 327 | - | 466 | 562 | 609 | 644 |
| Capex / Sales | 5.12% | 5.72% | 4.9% | - | 4.37% | 4.43% | 4.58% | 4.36% |
| Announcement Date | 2/13/20 | 2/9/21 | 2/10/22 | 2/14/23 | 2/15/24 | - | - | - |
1SEK in Million2SEK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
123.2
SEK
Average target price
148.3
SEK
Spread / Average Target
+20.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.01% | 1.55B | |
| +10.94% | 33.87B | |
| +0.82% | 23.35B | |
| +22.07% | 20.47B | |
| -14.29% | 20.24B | |
| -11.38% | 19.98B | |
| -2.20% | 16.18B | |
| -1.35% | 9.78B | |
| -25.04% | 7.6B | |
| +3.41% | 7.2B |
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