Financials Sandvik AB Deutsche Boerse AG

Equities

SVKB

SE0000667891

Industrial Machinery & Equipment

Market Closed - Deutsche Boerse AG 11:15:53 2024-06-14 am EDT 5-day change 1st Jan Change
19.06 EUR -2.90% Intraday chart for Sandvik AB -3.40% -2.58%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 229,114 252,508 316,858 236,326 273,582 270,571 - -
Enterprise Value (EV) 1 240,245 255,154 343,760 280,278 317,057 303,969 293,535 283,017
P/E ratio 26.2 x 28.8 x 21.9 x 21.1 x 17.9 x 19.1 x 14.9 x 13.7 x
Yield - 2.24% 1.88% 2.65% 2.52% 2.68% 3.1% 3.34%
Capitalization / Revenue 2.22 x 2.92 x 3.2 x 2.1 x 2.16 x 2.14 x 2.04 x 1.97 x
EV / Revenue 2.33 x 2.95 x 3.47 x 2.5 x 2.51 x 2.41 x 2.22 x 2.06 x
EV / EBITDA 10.2 x 14.9 x 13.9 x 11.1 x 10.6 x 10.4 x 9.02 x 8.3 x
EV / FCF 17.6 x 20.9 x 35.7 x 40.9 x 23.6 x 18.3 x 15.7 x 14.2 x
FCF Yield 5.69% 4.79% 2.8% 2.45% 4.24% 5.45% 6.37% 7.02%
Price to Book 3.7 x 3.88 x 4.11 x 2.91 x 3.12 x 2.81 x 2.54 x 2.31 x
Nbr of stocks (in thousands) 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 1,254,386 - -
Reference price 2 182.6 201.3 252.6 188.4 218.1 215.7 215.7 215.7
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/25/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 103,238 86,404 99,105 112,332 126,503 126,169 132,375 137,646
EBITDA 1 23,454 17,180 24,649 25,235 29,877 29,285 32,543 34,096
EBIT 1 19,219 14,563 18,116 21,020 23,300 23,085 25,626 27,081
Operating Margin 18.62% 16.85% 18.28% 18.71% 18.42% 18.3% 19.36% 19.67%
Earnings before Tax (EBT) 1 12,150 11,270 18,460 17,738 19,794 18,921 24,102 25,912
Net income 1 8,728 8,753 14,470 12,854 15,300 14,643 18,478 19,863
Net margin 8.45% 10.13% 14.6% 11.44% 12.09% 11.61% 13.96% 14.43%
EPS 2 6.960 6.980 11.52 8.940 12.18 11.27 14.48 15.75
Free Cash Flow 1 13,671 12,216 9,639 6,858 13,443 16,580 18,709 19,880
FCF margin 13.24% 14.14% 9.73% 6.11% 10.63% 13.14% 14.13% 14.44%
FCF Conversion (EBITDA) 58.29% 71.11% 39.11% 27.18% 44.99% 56.62% 57.49% 58.31%
FCF Conversion (Net income) 156.63% 139.56% 66.61% 53.35% 87.86% 113.24% 101.25% 100.08%
Dividend per Share 2 - 4.500 4.750 5.000 5.500 5.790 6.690 7.194
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/25/24 - - -
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 29,128 24,921 27,050 29,267 31,094 30,968 32,243 31,476 31,816 29,002 32,148 31,631 33,009 30,904 34,137
EBITDA 1 6,793 6,184 5,346 6,653 7,051 7,344 7,185 7,631 7,717 4,320 7,977 7,791 8,092 7,677 8,653
EBIT 1 5,106 4,730 4,794 5,519 5,977 5,638 6,109 5,815 5,738 4,824 6,085 6,030 6,731 - -
Operating Margin 17.53% 18.98% 17.72% 18.86% 19.22% 18.21% 18.95% 18.47% 18.03% 16.63% 18.93% 19.06% 20.39% - -
Earnings before Tax (EBT) 1 5,272 4,432 3,709 4,827 4,769 5,063 4,428 5,004 5,298 1,688 5,478 5,551 5,940 5,478 6,318
Net income 1 3,857 3,380 2,627 3,396 3,435 3,817 3,326 3,900 4,260 1,247 4,314 4,254 4,506 4,175 4,815
Net margin 13.24% 13.56% 9.71% 11.6% 11.05% 12.33% 10.32% 12.39% 13.39% 4.3% 13.42% 13.45% 13.65% 13.51% 14.1%
EPS 2 3.070 2.700 2.100 2.710 2.750 3.040 2.650 3.100 3.390 0.9900 3.439 3.390 3.591 3.326 3.837
Dividend per Share 2 4.750 - - - 5.000 - - - 5.500 - 2.750 - 4.146 - 2.875
Announcement Date 1/20/22 4/20/22 7/15/22 10/17/22 1/20/23 4/21/23 7/19/23 10/23/23 1/25/24 4/22/24 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,131 2,646 26,902 43,952 43,475 33,398 22,964 12,446
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.4746 x 0.154 x 1.091 x 1.742 x 1.455 x 1.14 x 0.7057 x 0.365 x
Free Cash Flow 1 13,671 12,216 9,639 6,858 13,443 16,580 18,709 19,880
ROE (net income / shareholders' equity) 14.2% 13.6% 20.5% 19% 17.7% 16.7% 18.3% 17.7%
ROA (Net income/ Total Assets) 7.32% 7.31% 10.5% 7.74% 8.72% 8.43% 9.91% 9.85%
Assets 1 119,217 119,776 137,323 166,100 175,447 173,784 186,424 201,690
Book Value Per Share 2 49.30 51.90 61.50 64.80 69.90 76.70 85.00 93.50
Cash Flow per Share 2 14.20 12.30 10.50 8.840 15.00 16.90 19.60 20.30
Capex 1 4,136 3,198 3,578 4,234 5,354 5,228 5,346 5,641
Capex / Sales 4.01% 3.7% 3.61% 3.77% 4.23% 4.14% 4.04% 4.1%
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/25/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
215.7 SEK
Average target price
238.8 SEK
Spread / Average Target
+10.73%
Consensus