Financials Swedish Match

Equities

SWMA

SE0015812219

Tobacco

Delayed Nasdaq Stockholm 11:29:52 2022-12-30 am EST 5-day change 1st Jan Change
113.6 SEK -.--% Intraday chart for Swedish Match -.--% -.--%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 57,365 59,861 79,986 101,880 111,934 172,677
Enterprise Value (EV) 1 64,937 70,537 91,331 114,118 125,403 185,905
P/E ratio 17.1 x 16.9 x 20.8 x 21 x 18.1 x 26.6 x
Yield 2.85% 3.01% 2.59% 2.35% 2.58% 0.82%
Capitalization / Revenue 3.56 x 4.62 x 5.43 x 6.1 x 6.05 x 7.7 x
EV / Revenue 4.03 x 5.44 x 6.2 x 6.83 x 6.78 x 8.29 x
EV / EBITDA 14.3 x 13.6 x 15.1 x 15.4 x 14.9 x 19.2 x
EV / FCF 26.3 x 34.1 x 27.2 x 30.2 x 39.7 x 82.1 x
FCF Yield 3.8% 2.93% 3.68% 3.31% 2.52% 1.22%
Price to Book -13.6 x -10.6 x -12.5 x -12.9 x -16.5 x -81.7 x
Nbr of stocks (in thousands) 1,774,898 1,714,727 1,656,714 1,597,371 1,554,204 1,520,714
Reference price 2 32.32 34.91 48.28 63.78 72.02 113.6
Announcement Date 3/19/18 3/18/19 3/6/20 3/16/21 3/25/22 4/25/23
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 16,101 12,966 14,739 16,698 18,489 22,417
EBITDA 1 4,540 5,172 6,050 7,421 8,421 9,706
EBIT 1 4,161 4,767 5,598 6,925 7,903 9,061
Operating Margin 25.84% 36.77% 37.98% 41.47% 42.74% 40.42%
Earnings before Tax (EBT) 1 4,352 4,531 5,060 6,645 7,941 8,160
Net income 1 3,400 3,578 3,895 4,888 6,217 6,487
Net margin 21.12% 27.6% 26.43% 29.27% 33.63% 28.94%
EPS 2 1.888 2.063 2.321 3.039 3.972 4.266
Free Cash Flow 1 2,471 2,067 3,363 3,780 3,160 2,264
FCF margin 15.34% 15.94% 22.82% 22.64% 17.09% 10.1%
FCF Conversion (EBITDA) 54.42% 39.97% 55.58% 50.93% 37.53% 23.33%
FCF Conversion (Net income) 72.67% 57.77% 86.34% 77.33% 50.83% 34.91%
Dividend per Share 2 0.9200 1.050 1.250 1.500 1.860 0.9300
Announcement Date 3/19/18 3/18/19 3/6/20 3/16/21 3/25/22 4/25/23
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 7,572 10,676 11,345 12,238 13,469 13,228
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.668 x 2.064 x 1.875 x 1.649 x 1.599 x 1.363 x
Free Cash Flow 1 2,471 2,067 3,363 3,780 3,160 2,265
ROE (net income / shareholders' equity) -123% -73.1% -65.4% -69.3% -86% -148%
ROA (Net income/ Total Assets) 17.9% 21.8% 24.8% 29.5% 31.6% 28.2%
Assets 1 18,943 16,430 15,710 16,597 19,702 22,976
Book Value Per Share 2 -2.380 -3.300 -3.870 -4.930 -4.370 -1.390
Cash Flow per Share 2 2.270 1.700 1.450 2.150 1.390 1.750
Capex 1 369 649 720 1,126 1,172 1,126
Capex / Sales 2.29% 5.01% 4.88% 6.74% 6.34% 5.02%
Announcement Date 3/19/18 3/18/19 3/6/20 3/16/21 3/25/22 4/25/23
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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