VITEC SOFTWARE GROUP AB |
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 519.8 SEK | +0.24% |
|
+3.80% | -11.36% |
| Apr. 23 | Vitec Software Group AB Approves Dividend | CI |
| Apr. 18 | Transcript : Vitec Software Group AB, Q1 2024 Earnings Call, Apr 18, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,026 | 11,176 | 19,521 | 15,611 | 21,977 | 19,462 | - | - |
| Enterprise Value (EV) 1 | 6,480 | 11,599 | 20,158 | 16,527 | 23,976 | 21,946 | 22,142 | 22,369 |
| P/E ratio | 58.5 x | 69.2 x | 90.7 x | 60.6 x | 64.2 x | 47.7 x | 40 x | 33.1 x |
| Yield | 0.73% | 0.48% | 0.29% | 0.48% | 0.39% | 0.69% | 0.83% | 1.02% |
| Capitalization / Revenue | 5.21 x | 8.51 x | 12.4 x | 7.89 x | 7.91 x | 6.32 x | 5.64 x | 4.97 x |
| EV / Revenue | 5.61 x | 8.84 x | 12.8 x | 8.35 x | 8.63 x | 7.12 x | 6.41 x | 5.71 x |
| EV / EBITDA | 17.7 x | 25.4 x | 35.5 x | 23.2 x | 22.5 x | 18 x | 16 x | 13.9 x |
| EV / FCF | -70.2 x | 121 x | -20.2 x | -18.9 x | -33.6 x | -1,372 x | 138 x | 138 x |
| FCF Yield | -1.42% | 0.83% | -4.96% | -5.3% | -2.97% | -0.07% | 0.72% | 0.72% |
| Price to Book | 7.93 x | 13.3 x | 9.81 x | 4.86 x | 6.45 x | 5.35 x | 4.88 x | 4.4 x |
| Nbr of stocks (in thousands) | 32,573 | 32,773 | 35,046 | 37,329 | 37,535 | 37,535 | - | - |
| Reference price 2 | 185.0 | 341.0 | 557.0 | 418.2 | 585.5 | 518.5 | 518.5 | 518.5 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/11/22 | 2/1/23 | 2/1/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,156 | 1,313 | 1,571 | 1,978 | 2,778 | 3,081 | 3,453 | 3,917 |
| EBITDA 1 | 365.7 | 457 | 567.6 | 711.3 | 1,064 | 1,222 | 1,385 | 1,612 |
| EBIT 1 | 144 | 222.4 | 283 | 355.8 | 590.1 | 680.1 | 767.3 | 909.3 |
| Operating Margin | 12.46% | 16.94% | 18.01% | 17.99% | 21.25% | 22.07% | 22.22% | 23.22% |
| Earnings before Tax (EBT) 1 | 130 | 207.6 | 262.1 | 312.2 | 467.8 | 546.4 | 647.2 | 780.6 |
| Net income 1 | 102.2 | 160.7 | 206.9 | 244.9 | 339.2 | 411.1 | 491.9 | 593.4 |
| Net margin | 8.84% | 12.24% | 13.17% | 12.38% | 12.21% | 13.34% | 14.25% | 15.15% |
| EPS 2 | 3.160 | 4.930 | 6.140 | 6.900 | 9.120 | 10.86 | 12.96 | 15.68 |
| Free Cash Flow 1 | -92.27 | 96.21 | -1,000 | -875.8 | -713.1 | -16 | 160 | 162 |
| FCF margin | -7.98% | 7.33% | -63.66% | -44.27% | -25.67% | -0.52% | 4.63% | 4.14% |
| FCF Conversion (EBITDA) | - | 21.05% | - | - | - | - | 11.55% | 10.05% |
| FCF Conversion (Net income) | - | 59.86% | - | - | - | - | 32.53% | 27.3% |
| Dividend per Share 2 | 1.350 | 1.640 | 1.640 | 2.000 | 2.280 | 3.600 | 4.300 | 5.300 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/11/22 | 2/1/23 | 2/1/24 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 421.4 | 446.6 | 448.6 | 504.8 | 578.1 | 612.6 | 723.7 | 701 | 740.3 | 716 | 780 | 774 | 811.5 |
| EBITDA 1 | 149.5 | 163 | 155.1 | 183.2 | 206.5 | 222.5 | 275.7 | 292.9 | 288.1 | 279.6 | 309 | 315.5 | 318 |
| EBIT 1 | 70.39 | 83.36 | 74.29 | 92.2 | 106 | 122.6 | 163.9 | 157.6 | 146 | 153 | 174 | 180 | 177.5 |
| Operating Margin | 16.7% | 18.66% | 16.56% | 18.26% | 18.33% | 20.01% | 22.65% | 22.48% | 19.73% | 21.37% | 22.31% | 23.26% | 21.87% |
| Earnings before Tax (EBT) 1 | 65.78 | 78.45 | 69.46 | 75.06 | 89.19 | 101.3 | 128.7 | 118.8 | 119 | - | 139 | 152 | 141 |
| Net income 1 | 55.68 | 61.82 | 53.3 | 61.91 | 67.84 | 77.14 | 96.87 | 85.2 | 79.97 | 85.55 | 105.5 | 111 | 109 |
| Net margin | 13.21% | 13.84% | 11.88% | 12.26% | 11.73% | 12.59% | 13.39% | 12.15% | 10.8% | 11.95% | 13.53% | 14.34% | 13.43% |
| EPS 2 | 1.590 | 1.730 | 1.500 | 1.760 | 1.920 | 2.170 | 2.430 | 2.260 | 2.230 | 2.300 | 2.760 | 3.020 | 2.800 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/11/22 | 4/22/22 | 7/15/22 | 10/20/22 | 2/1/23 | 4/21/23 | 7/14/23 | 10/19/23 | 2/1/24 | 4/18/24 | - | - | - |
1SEK in Million2SEK
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 454 | 423 | 638 | 916 | 1,999 | 2,484 | 2,680 | 2,907 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.241 x | 0.9264 x | 1.123 x | 1.287 x | 1.879 x | 2.031 x | 1.935 x | 1.804 x |
| Free Cash Flow 1 | -92.3 | 96.2 | -1,000 | -876 | -713 | -16 | 160 | 162 |
| ROE (net income / shareholders' equity) | 14% | 20% | 15% | 9% | 10% | 11.3% | 11.8% | 12.6% |
| ROA (Net income/ Total Assets) | 5.73% | 7.85% | 6.95% | 4.86% | 4.79% | 5.19% | 5.86% | 6.85% |
| Assets 1 | 1,783 | 2,049 | 2,979 | 5,036 | 7,075 | 7,915 | 8,391 | 8,665 |
| Book Value Per Share 2 | 23.30 | 25.70 | 56.80 | 86.00 | 90.80 | 96.90 | 106.0 | 118.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 157 | 173 | 228 | 285 | 377 | 413 | 434 | 469 |
| Capex / Sales | 13.55% | 13.17% | 14.52% | 14.42% | 13.57% | 13.39% | 12.57% | 11.97% |
| Announcement Date | 2/13/20 | 2/11/21 | 2/11/22 | 2/1/23 | 2/1/24 | - | - | - |
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
HOLD
Number of Analysts
1
Last Close Price
518.5
SEK
Average target price
576
SEK
Spread / Average Target
+11.09%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -11.36% | 1.78B | |
| +11.17% | 322B | |
| +23.99% | 216B | |
| +2.41% | 149B | |
| +10.65% | 56.27B | |
| +8.71% | 32.13B | |
| -4.57% | 27.45B | |
| +103.03% | 22.62B | |
| +22.50% | 19.55B | |
| -0.34% | 14.61B |
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