Stock EVO EVOLUTION AB
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Financials Evolution AB

Equities

EVO

SE0012673267

Casinos & Gaming

Market Closed - Nasdaq Stockholm
Other stock markets
 11:29:33 2024-04-26 am EDT 		5-day change 1st Jan Change
1,264 SEK +1.53% Intraday chart for Evolution AB -1.37% +5.10%
Apr. 26 Evolution AB Approves Dividend for the Year 2023, Payable on 8 May 2024 CI
Apr. 24 Transcript : Evolution AB, Q1 2024 Earnings Call, Apr 24, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,893 17,584 26,900 19,432 22,989 22,781 - -
Enterprise Value (EV) 1 4,735 17,362 26,547 18,979 22,083 21,830 21,165 20,525
P/E ratio 32.5 x 54.8 x 46 x 23.5 x 21.9 x 20.1 x 17.4 x 14.7 x
Yield 1.56% 0.82% 1.13% 2.19% 2.45% 2.54% 3% 3.49%
Capitalization / Revenue 13.4 x 31.3 x 25.2 x 13.3 x 12.8 x 10.8 x 9.27 x 8.06 x
EV / Revenue 12.9 x 30.9 x 24.8 x 13 x 12.3 x 10.3 x 8.62 x 7.26 x
EV / EBITDA 25.9 x 49.4 x 36.1 x 18.8 x 17.4 x 14.7 x 12.2 x 10.2 x
EV / FCF 35.5 x 56.1 x 46.9 x 24.3 x 20.6 x 22.3 x 15.8 x 13.3 x
FCF Yield 2.81% 1.78% 2.13% 4.11% 4.86% 4.49% 6.33% 7.51%
Price to Book 17.4 x 6.45 x 8.43 x 5.62 x 5.73 x 5.46 x 4.76 x 4.36 x
Nbr of stocks (in thousands) 181,623 212,327 214,010 213,205 212,911 211,044 - -
Reference price 2 26.94 82.82 125.7 91.14 108.0 107.9 107.9 107.9
Announcement Date 2/12/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 365.8 561.1 1,069 1,457 1,799 2,117 2,456 2,826
EBITDA 1 182.9 351.6 734.6 1,008 1,267 1,481 1,738 2,003
EBIT 1 157.5 319.1 654 908.1 1,143 1,340 1,581 1,839
Operating Margin 43.05% 56.86% 61.19% 62.34% 63.53% 63.29% 64.38% 65.08%
Earnings before Tax (EBT) 1 157.3 298.7 647.5 906.6 1,149 1,351 1,596 1,872
Net income 1 149.7 284.6 605.4 843.4 1,071 1,142 1,336 1,564
Net margin 40.92% 50.72% 56.65% 57.89% 59.54% 53.96% 54.4% 55.34%
EPS 2 0.8300 1.510 2.730 3.880 4.930 5.364 6.220 7.354
Free Cash Flow 1 133.3 309.2 565.6 780.5 1,074 980.3 1,340 1,541
FCF margin 36.43% 55.11% 52.92% 53.58% 59.73% 46.31% 54.54% 54.52%
FCF Conversion (EBITDA) 72.86% 87.95% 76.99% 77.4% 84.76% 66.22% 77.08% 76.92%
FCF Conversion (Net income) 89.02% 108.65% 93.42% 92.55% 100.32% 85.82% 100.26% 98.52%
Dividend per Share 2 0.4200 0.6800 1.420 2.000 2.650 2.740 3.237 3.766
Announcement Date 2/12/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1EUR in Million2EUR
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 1 300.2 326.8 344 378.5 407.5 429.6 441.1 452.6 475.3 501.5 520.3 541.5 568.4 581.7 608
EBITDA 1 206.9 229.7 238.2 261 279.5 300.2 311.7 318.6 337 345.8 359.7 378.7 402.9 410 429
EBIT 1 184.5 207.1 214.6 236.4 250 271.5 281.5 287.1 302.6 311.6 325.4 342.7 365.5 374.7 -
Operating Margin 61.47% 63.37% 62.39% 62.46% 61.35% 63.2% 63.82% 63.44% 63.66% 62.14% 62.54% 63.29% 64.3% 64.41% -
Earnings before Tax (EBT) 1 184.2 211.4 217 237.7 240.5 270.1 283 292.5 303 317.5 327 347.5 371.5 381 399
Net income 1 171.6 197.7 200.9 221.3 223.5 251.2 264.1 272.8 282.9 269.2 275.9 291 312.5 - -
Net margin 57.14% 60.5% 58.4% 58.47% 54.85% 58.46% 59.87% 60.26% 59.51% 53.68% 53.03% 53.73% 54.97% - -
EPS 2 0.7700 0.9000 0.9200 1.020 1.030 1.180 1.240 1.260 1.310 1.250 1.305 1.361 1.469 - -
Dividend per Share 2 - - - - - - - - 2.650 - - - 2.790 - -
Announcement Date 2/9/22 4/28/22 7/21/22 10/27/22 2/2/23 4/27/23 7/21/23 10/26/23 2/1/24 4/24/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 157 222 354 453 906 951 1,616 2,256
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 133 309 566 781 1,074 980 1,340 1,541
ROE (net income / shareholders' equity) 67.6% 20.2% 20.5% 25.4% 28.7% 28.1% 29.2% 31%
ROA (Net income/ Total Assets) 44.4% 16.8% 17.1% 20.4% 22.9% 22.8% 24.3% 26.7%
Assets 1 337.4 1,691 3,536 4,136 4,671 5,015 5,500 5,851
Book Value Per Share 2 1.550 12.80 14.90 16.20 18.80 19.80 22.70 24.80
Cash Flow per Share 2 - 1.670 2.700 4.030 5.380 5.910 6.620 7.360
Capex 1 19 23.3 33.3 96.9 94.2 124 138 152
Capex / Sales 5.18% 4.14% 3.12% 6.65% 5.24% 5.85% 5.6% 5.38%
Announcement Date 2/12/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Evolution AB

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
107.9 EUR
Average target price
127.2 EUR
Spread / Average Target
+17.80%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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