Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 303,926 - -
Change - -38.58% 3.04% 42.39% 0.82% 0.65% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 252,103 242,824 235,400
Change - -36.08% 11.82% 32.33% -1.1% -9.33% -3.68% -3.06%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 17.2x 14.2x 13.2x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.76x 2.57x 2.37x
PEG - -0.6x 0x -90x 0x -0.5x 0.7x 1.79x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.34x 1.32x 1.29x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.11x 1.05x 1x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 6.71x 6.45x 5.99x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 8.6x 8.16x 7.51x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 11.1x 9.38x 8.76x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 9.04% 10.7% 11.4%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.035 3.154 3.285
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.28% 3.41% 3.55%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.385 6.498 6.978
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 56.4% 48.5% 47.1%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,162 230,787 235,774
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,573 37,659 39,325
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,306 29,760 31,346
Net income 1 23,000 18,724 -26,446 20 28,428 17,791 20,605 21,437
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -51,822 -61,101 -68,526
Reference price 2 99.79 60.90 63.11 89.88 90.60 92.44 92.44 92.44
Nbr of stocks (in thousands) 3,329,738 3,330,142 3,330,142 3,332,672 3,333,287 3,283,682 - -
Announcement Date 1/25/22 1/20/23 1/23/24 1/24/25 1/23/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.01x5.83x15.09x1.6% 421B
54.16x19.35x38.83x-.--% 261B
20.16x0.81x14.74x2.25% 180B
28.98x9.22x22.26x0.42% 157B
44.42x13.09x29.42x-.--% 84.47B
33.06x6.44x18.67x1.06% 75.61B
42.56x2.31x14.94x1.66% 58.24B
29.37x6.65x22.2x1.41% 56.73B
61.54x7.96x35.21x-.--% 50.61B
Average 37.81x 7.96x 23.49x 0.93% 149.35B
Weighted average by Cap. 34.78x 8.63x 22.64x 1.04%

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